Registered number
08975820
P Deare Carpentry & Joinery Ltd
Filleted Accounts
31 March 2024
P Deare Carpentry & Joinery Ltd
Registered number: 08975820
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 30,694 65,869
Investments 5 18,033 14,068
48,727 79,937
Current assets
Stocks 20,000 12,500
Debtors 6 1,013,102 688,941
Cash at bank and in hand 191,200 135,583
1,224,302 837,024
Creditors: amounts falling due within one year 7 (474,358) (271,904)
Net current assets 749,944 565,120
Total assets less current liabilities 798,671 645,057
Creditors: amounts falling due after more than one year 8 (9,482) (54,721)
Net assets 789,189 590,336
Capital and reserves
Called up share capital 90 90
Capital redemption reserve 10 10
Profit and loss account 789,089 590,236
Shareholders' funds 789,189 590,336
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Philip Geoffrey Deare
Director
Approved by the board on 14 October 2024
P Deare Carpentry & Joinery Ltd
Notes to the Accounts
for the year ended 31 March 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 over 3 years
Motor vehicles over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 26 23
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 11,000
At 31 March 2024 11,000
Amortisation
At 1 April 2023 11,000
At 31 March 2024 11,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 24,790 107,505 132,295
Additions 8,260 - 8,260
Disposals - (71,452) (71,452)
At 31 March 2024 33,050 36,053 69,103
Depreciation
At 1 April 2023 14,351 52,075 66,426
Charge for the year 7,216 7,211 14,427
On disposals - (42,444) (42,444)
At 31 March 2024 21,567 16,842 38,409
Net book value
At 31 March 2024 11,483 19,211 30,694
At 31 March 2023 10,439 55,430 65,869
5 Investments
Other
investments
£
Cost
At 1 April 2023 14,068
Additions 230
Revaluation 3,857
Disposals (122)
At 31 March 2024 18,033
6 Debtors 2024 2023
£ £
Trade debtors 650,449 361,625
Other debtors 362,653 327,316
1,013,102 688,941
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 45,238 46,959
Trade creditors 96,717 38,012
Taxation and social security costs 135,565 130,056
Other creditors 196,838 56,877
474,358 271,904
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,482 54,721
9 Other information
P Deare Carpentry & Joinery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Pynes Hill Business
Pynes Hill
Exeter
England
EX2 5JL
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