Registered number
13841923
AK Carpentry Ltd
Filleted Accounts
31 January 2024
AK Carpentry Ltd
Registered number: 13841923
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,092 6,017
Current assets
Stocks 1,901 1,799
Debtors 4 19,390 13,969
Cash at bank and in hand 39,294 10,769
60,585 26,537
Creditors: amounts falling due within one year 5 (17,976) (10,059)
Net current assets 42,609 16,478
Total assets less current liabilities 48,701 22,495
Provisions for liabilities (781) (1,143)
Net assets 47,920 21,352
Capital and reserves
Called up share capital 1 1
Profit and loss account 47,919 21,351
Shareholder's funds 47,920 21,352
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A P Pedrick
Director
Approved by the board on 13 September 2024
AK Carpentry Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Motor vehicle 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 2,843 4,800 7,643
Additions 1,573 - 1,573
At 31 January 2024 4,416 4,800 9,216
Depreciation
At 1 February 2023 426 1,200 1,626
Charge for the year 598 900 1,498
At 31 January 2024 1,024 2,100 3,124
Net book value
At 31 January 2024 3,392 2,700 6,092
At 31 January 2023 2,417 3,600 6,017
4 Debtors 2024 2023
£ £
Other debtors 19,390 13,969
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 14,902 9,215
Other creditors 3,074 844
17,976 10,059
6 Related party transactions
The company owed the director £2,437 as at 31st January 2024 (£244 as at 31st January 2023).
7 Other information
AK Carpentry Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 18 City Business Park
Somerset Place
Plymouth
Devon
PL3 4BB
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