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Company Registration No. SC395329 (Scotland)
Classic Joinery Products Limited Unaudited accounts for the year ended 31 March 2024
Classic Joinery Products Limited Unaudited accounts Contents
Page
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Classic Joinery Products Limited Company Information for the year ended 31 March 2024
Directors
Morag Makarewicz Stephen Makarewicz
Company Number
SC395329 (Scotland)
Registered Office
Unit G The Roundel Falkirk FK2 9HG
Accountants
Armet Accounting Ltd Room 31 Haypark Business Centre Polmont FK2 0NZ
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Classic Joinery Products Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,277 
14,800 
Current assets
Inventories
12,250 
8,250 
Debtors
20,476 
113,247 
Cash at bank and in hand
87,799 
86,879 
120,525 
208,376 
Creditors: amounts falling due within one year
(36,460)
(102,856)
Net current assets
84,065 
105,520 
Total assets less current liabilities
95,342 
120,320 
Creditors: amounts falling due after more than one year
- 
(8,667)
Provisions for liabilities
Deferred tax
(2,987)
(3,921)
Net assets
92,355 
107,732 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
92,353 
107,730 
Shareholders' funds
92,355 
107,732 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by
Morag Makarewicz Director Company Registration No. SC395329
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Classic Joinery Products Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Classic Joinery Products Limited is a private company, limited by shares, registered in Scotland, registration number SC395329. The registered office is Unit G, The Roundel, Falkirk, FK2 9HG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Straight Line
Computer equipment
33% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
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Classic Joinery Products Limited Notes to the Accounts for the year ended 31 March 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
41,650 
At 31 March 2024
41,650 
Amortisation
At 1 April 2023
41,650 
At 31 March 2024
41,650 
Net book value
At 31 March 2024
- 
Goodwill, the amount paid in connection with the acquisition of a business in 2011, has been amortised evenly over its estimated useful life of five years.
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
17,159 
20,750 
4,572 
1,247 
43,728 
Additions
- 
- 
- 
193 
193 
At 31 March 2024
17,159 
20,750 
4,572 
1,440 
43,921 
Depreciation
At 1 April 2023
14,306 
11,997 
1,461 
1,164 
28,928 
Charge for the year
795 
2,188 
686 
47 
3,716 
At 31 March 2024
15,101 
14,185 
2,147 
1,211 
32,644 
Net book value
At 31 March 2024
2,058 
6,565 
2,425 
229 
11,277 
At 31 March 2023
2,853 
8,753 
3,111 
83 
14,800 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
17,868 
106,788 
Accrued income and prepayments
2,608 
3,460 
Other debtors
- 
2,999 
20,476 
113,247 
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Classic Joinery Products Limited Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
4,000 
VAT
9,425 
21,101 
Trade creditors
10,078 
33,123 
Taxes and social security
10,563 
15,469 
Other creditors
408 
1,211 
Loans from directors
230 
- 
Accruals
756 
590 
Deferred income
5,000 
27,362 
36,460 
102,856 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
8,667 
A bounceback loan was repaid in full within the year.
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
2,987 
3,921 
2024 
2023 
£ 
£ 
Provision at start of year
3,921 
3,584 
(Credited)/charged to the profit and loss account
(934)
337 
Provision at end of year
2,987 
3,921 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loans to directors
2,998 
677 
3,905 
(230)
2,998 
677 
3,905 
(230)
12
Transactions with related parties
The company operates from a property owned jointly by the directors. Rent of £12,000 (2022: £12,000) has been paid.
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Classic Joinery Products Limited Notes to the Accounts for the year ended 31 March 2024
13
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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