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REGISTERED NUMBER: 04019821 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Ashbocking Joinery Ltd

Ashbocking Joinery Ltd (Registered number: 04019821)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ashbocking Joinery Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D R Mills
Mrs A Mills



SECRETARY: Mrs A Mills



REGISTERED OFFICE: Commercial Barns
Helmingham Road
Ashbocking
Ipswich
Suffolk
IP6 9JS



REGISTERED NUMBER: 04019821 (England and Wales)



ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BANKERS: NatWest
2 Tavern Street
Ipswich
Suffolk
IP1 3BD

Ashbocking Joinery Ltd (Registered number: 04019821)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,665 27,149

CURRENT ASSETS
Stocks 5 9,934 13,471
Debtors 6 23,964 22,498
Cash at bank 50,933 29,668
84,831 65,637
CREDITORS
Amounts falling due within one year 7 34,613 28,041
NET CURRENT ASSETS 50,218 37,596
TOTAL ASSETS LESS CURRENT LIABILITIES 69,883 64,745

CREDITORS
Amounts falling due after more than one
year

8

(18,057

)

(22,029

)

PROVISIONS FOR LIABILITIES 10 (4,331 ) (4,685 )
NET ASSETS 47,495 38,031

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 11 47,195 37,731
SHAREHOLDERS' FUNDS 47,495 38,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Ashbocking Joinery Ltd (Registered number: 04019821)

Statement of Financial Position - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





D R Mills - Director


Ashbocking Joinery Ltd (Registered number: 04019821)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ashbocking Joinery Ltd 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 represents the manufacture of bespoke joinery excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight line over 7 years
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Ashbocking Joinery Ltd (Registered number: 04019821)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 37,747 58,663 11,091 46,814 154,315
Disposals - - - (14,624 ) (14,624 )
At 31 December 2023 37,747 58,663 11,091 32,190 139,691
DEPRECIATION
At 1 January 2023 37,747 57,450 9,298 22,671 127,166
Charge for year - 821 627 6,036 7,484
Eliminated on disposal - - - (14,624 ) (14,624 )
At 31 December 2023 37,747 58,271 9,925 14,083 120,026
NET BOOK VALUE
At 31 December 2023 - 392 1,166 18,107 19,665
At 31 December 2022 - 1,213 1,793 24,143 27,149

Ashbocking Joinery Ltd (Registered number: 04019821)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 32,190
DEPRECIATION
At 1 January 2023 8,047
Charge for year 6,036
At 31 December 2023 14,083
NET BOOK VALUE
At 31 December 2023 18,107
At 31 December 2022 24,143

5. STOCKS
2023 2022
£    £   
Stocks 1,626 2,000
Work-in-progress 8,308 11,471
9,934 13,471

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 22,308 9,365
Other debtors 1,656 13,133
23,964 22,498

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,972 3,972
Trade creditors 4,649 15,182
Taxation and social security 11,407 2,317
Other creditors 14,585 6,570
34,613 28,041

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 18,057 22,029

Ashbocking Joinery Ltd (Registered number: 04019821)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 22,029 26,001

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,331 4,685

Deferred
tax
£   
Balance at 1 January 2023 4,685
Accelerated capital allowances (354 )
Balance at 31 December 2023 4,331

11. RESERVES
Retained
earnings
£   

At 1 January 2023 37,731
Profit for the year 34,464
Dividends (25,000 )
At 31 December 2023 47,195