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REGISTERED NUMBER: 04433931 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

MEDWAY JOINERY LIMITED

MEDWAY JOINERY LIMITED (REGISTERED NUMBER: 04433931)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEDWAY JOINERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: C A Haynes





SECRETARY: Mrs L B Haynes





REGISTERED OFFICE: Unit 59
Second Avenue Industrial Estate
Chatham
Kent
ME4 5AU





REGISTERED NUMBER: 04433931 (England and Wales)





ACCOUNTANTS: George & Co.
Chartered Accountants
44a Joy Lane
Whitstable
Kent
CT5 4LT

MEDWAY JOINERY LIMITED (REGISTERED NUMBER: 04433931)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,535 19,902

CURRENT ASSETS
Stocks 21,757 20,023
Debtors 5 114,038 98,966
Cash at bank and in hand 178,217 214,286
314,012 333,275
CREDITORS
Amounts falling due within one year 6 75,131 67,548
NET CURRENT ASSETS 238,881 265,727
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,416

285,629

PROVISIONS FOR LIABILITIES 6,524 474
NET ASSETS 319,892 285,155

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 319,742 285,005
SHAREHOLDERS' FUNDS 319,892 285,155

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MEDWAY JOINERY LIMITED (REGISTERED NUMBER: 04433931)

BALANCE SHEET - continued
31 MAY 2024


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 director and authorised for issue on 28 August 2024 and were signed by:





C A Haynes - Director


MEDWAY JOINERY LIMITED (REGISTERED NUMBER: 04433931)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Medway Joinery 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.

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.

Revenue
Revenue represents the total value, excluding value added tax, of sales earned during the year.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost

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

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 balance sheet date.

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.

MEDWAY JOINERY LIMITED (REGISTERED NUMBER: 04433931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 222,210
Additions 99,077
Disposals (32,083 )
At 31 May 2024 289,204
DEPRECIATION
At 1 June 2023 202,308
Charge for year 28,233
Eliminated on disposal (28,872 )
At 31 May 2024 201,669
NET BOOK VALUE
At 31 May 2024 87,535
At 31 May 2023 19,902

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 85,893 79,526
Other debtors 28,145 19,440
114,038 98,966

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 37,543 39,766
Taxation and social security 30,557 24,818
Other creditors 7,031 2,964
75,131 67,548

7. LEASING AGREEMENTS
There is five year lease at an initial rent of £48,750 per annum on the factory unit ending on 19th December 2028.The lease has a 6 month break notice option operable at any time.

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The premises are rented from a pension scheme of which the director, Mr Carl Haynes, is a member. The rent payable is set at an independently agreed market rate.