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Registered Number: 06855195
England and Wales

 

 

 

MADE TO MEASURE WOODWORK LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director Daniel Alex Panayiotou
Registered Number 06855195
Registered Office 20 Tylney Road
Bromley
Kent
BR1 2RL
Accountants Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
Secretary Jacqueline Anne Panayiotou
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 March 2024.
Principal activities
The principal activity of the company during the financial year was of the manufacture of furniture and woodworking.
Director
The director who served the company throughout the year was as follows:
Daniel Alex Panayiotou
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Daniel Alex Panayiotou
Director

Date approved: 24 October 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of Made To Measure Woodwork Limited for the year ended 31 March 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Made To Measure Woodwork Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of Made To Measure Woodwork Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Made To Measure Woodwork Limited and state those matters that we have agreed to state to the Board of Directors of Made To Measure Woodwork Limited, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Made To Measure Woodwork Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Made To Measure Woodwork Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Made To Measure Woodwork Limited.You consider that Made To Measure Woodwork Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Made To Measure Woodwork Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 March 2024.



....................................................
Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
24 October 2024
3
 
 
Notes
 
2024
£
  2023
£
Turnover 104,421    62,301 
Cost of sales (15,983)   (22,080)
Gross profit 88,438    40,221 
Administrative expenses (67,542)   (57,205)
Operating profit/(loss) 20,896    (16,984)
Profit/(Loss) on ordinary activities before taxation 20,896    (16,984)
Tax on profit on ordinary activities (939)  
Profit/(Loss) for the financial year 19,957    (16,984)
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 5 3,280    4,311 
3,280    4,311 
Current assets      
Stocks 6 500    4,935 
Debtors 7 10,598    37 
Cash at bank and in hand 14,560    37,478 
25,658    42,450 
Creditors: amount falling due within one year 8 (25,963)   (30,443)
Net current assets (305)   12,007 
 
Total assets less current liabilities 2,975    16,318 
Accruals and deferred income   (33,300)
Net assets 2,975    (16,982)
 

Capital and reserves
     
Called up share capital 9 2    2 
Profit and loss account 2,973    (16,984)
Shareholders' funds 2,975    (16,982)
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 24 October 2024 and were signed by:


-------------------------------
Daniel Alex Panayiotou
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2022 2 
Profit for the year (16,984) (16,984)
Total comprehensive income for the year (16,984) (16,984)
Total investments by and distributions to owners
At 31 March 2023 2  (16,984) (16,982)
At 01 April 2023 2  (16,984) (16,982)
Profit for the year 19,957  19,957 
Total comprehensive income for the year 19,957  19,957 
Total investments by and distributions to owners
At 31 March 2024 2  2,973  2,975 
6
General Information
Made To Measure Woodwork Limited is a private company, limited by shares, registered in England and Wales, registration number 06855195, registration address 20 Tylney Road, Bromley, Kent, BR1 2RL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 16.66% Reducing Balance
Motor Vehicles 33.33% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Directors' Emoluments

2024
£
  2023
£
Administrative Expenses
Directors Remuneration 38,692    30,161 
38,692    30,161 

3.

Staff Costs

2024
£
  2023
£
Wages and salaries 38,692    30,161 
Pension costs, defined contribution plan 3,892    840 
Other staff costs 120   
42,704    31,001 

4.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
5.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 April 2023 16,400    9,495    25,895 
Additions    
Disposals    
At 31 March 2024 16,400    9,495    25,895 
Depreciation
At 01 April 2023 13,963    7,621    21,584 
Charge for year 406    625    1,031 
On disposals    
At 31 March 2024 14,369    8,246    22,615 
Net book values
Closing balance as at 31 March 2024 2,031    1,249    3,280 
Opening balance as at 01 April 2023 2,437    1,874    4,311 


6.

Stocks

2024
£
  2023
£
Stocks 500    4,935 
500    4,935 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 9,900   
Prepayments & Accrued Income 698   
VAT   37 
10,598    37 

8.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 208   
Corporation Tax 939   
PAYE & Social Security 2,815   
Other Creditors 1,570    698 
Unpaid Pension Contributions 2,852   
Directors Current Account 14,549    29,745 
VAT 3,030   
25,963    30,443 

9.

Share Capital

Authorised
1,000 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

7