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REGISTERED NUMBER: 08302203 (England and Wales)











Financial Statements

for the Year Ended 30 November 2023

for

PENRITH JOINERY CONTRACTORS LIMITED

PENRITH JOINERY CONTRACTORS LIMITED (REGISTERED NUMBER: 08302203)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENRITH JOINERY CONTRACTORS LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr M Kirkland
Mr T White
Mrs R White





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 08302203 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

PENRITH JOINERY CONTRACTORS LIMITED (REGISTERED NUMBER: 08302203)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,271 -
Tangible assets 5 133,688 151,404
138,959 151,404

CURRENT ASSETS
Stocks 6 201,007 275,000
Debtors 7 127,743 118,439
Cash at bank 153,952 253,640
482,702 647,079
CREDITORS
Amounts falling due within one year 8 242,375 314,669
NET CURRENT ASSETS 240,327 332,410
TOTAL ASSETS LESS CURRENT
LIABILITIES

379,286

483,814

CREDITORS
Amounts falling due after more than one year 9 (231,077 ) (280,534 )

PROVISIONS FOR LIABILITIES 11 (8,146 ) (8,146 )
NET ASSETS 140,063 195,134

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 139,863 194,934
140,063 195,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PENRITH JOINERY CONTRACTORS LIMITED (REGISTERED NUMBER: 08302203)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:




Mr T White - Director



Mr M Kirkland - Director


PENRITH JOINERY CONTRACTORS LIMITED (REGISTERED NUMBER: 08302203)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Penrith Joinery Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PENRITH JOINERY CONTRACTORS LIMITED (REGISTERED NUMBER: 08302203)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 5,857
At 30 November 2023 5,857
AMORTISATION
Charge for year 586
At 30 November 2023 586
NET BOOK VALUE
At 30 November 2023 5,271

PENRITH JOINERY CONTRACTORS LIMITED (REGISTERED NUMBER: 08302203)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2022 77,240 41,543 10,148 95,831 224,762
Additions - 1,100 - - 1,100
At 30 November 2023 77,240 42,643 10,148 95,831 225,862
DEPRECIATION
At 1 December 2022 - 21,546 6,537 45,275 73,358
Charge for year - 5,274 903 12,639 18,816
At 30 November 2023 - 26,820 7,440 57,914 92,174
NET BOOK VALUE
At 30 November 2023 77,240 15,823 2,708 37,917 133,688
At 30 November 2022 77,240 19,997 3,611 50,556 151,404

6. STOCKS
30.11.23 30.11.22
£    £   
Stocks 114,102 250,000
Work-in-progress 86,905 25,000
201,007 275,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 108,654 110,938
Directors' current accounts 13,003 -
Prepayments and accrued income 6,086 7,501
127,743 118,439

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 10) 51,250 51,250
Trade creditors 52,354 30,098
Tax 20,217 52,685
Social security and other taxes (10,590 ) 4,877
Net wages 7,236 -
VAT 73,502 43,261
Other creditors 544 -
Directors' current accounts 40,657 130,353
Accruals and deferred income 7,205 2,145
242,375 314,669

PENRITH JOINERY CONTRACTORS LIMITED (REGISTERED NUMBER: 08302203)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 10) 231,077 280,534

10. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 51,250 51,250

Amounts falling due between one and two years:
Bank loans - 1-2 years 231,077 280,534

11. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 8,146 8,146

Deferred
tax
£   
Balance at 1 December 2022 8,146
Balance at 30 November 2023 8,146

12. RELATED PARTY DISCLOSURES

As at the balance sheet date included within creditors is £27,654 (2022: 130,353) due and payable to the directors. This amount is interest free and repayable upon demand.