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Registration number: 12351941

AM Carpentry & Joinery Ltd
Annual Report and
Unaudited Financial Statements

31 March 2024

 

AM Carpentry & Joinery Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

AM Carpentry & Joinery Ltd

Balance Sheet
31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

-

4,322

Current assets

 

Debtors

5

32,673

82,886

Cash at bank and in hand

 

6,997

4,357

 

39,670

87,243

Creditors: Amounts falling due within one year

6

(16,343)

(38,416)

Net current assets

 

23,327

48,827

Total assets less current liabilities

 

23,327

53,149

Creditors: Amounts falling due after more than one year

6

(13,729)

(17,083)

Net assets

 

9,598

36,066

Capital and reserves

 

Called up share capital

100

100

Retained earnings

9,498

35,966

Shareholders' funds

 

9,598

36,066

 

AM Carpentry & Joinery Ltd

Balance Sheet
31 March 2024

For the financial period from 1 January 2023 to 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:
 

.........................................
Mr A C Fox
Director

Company Registration Number: 12351941

 

AM Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements
Period from 1 January 2023 to 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Tower House
269 Walmersley Road
Bury
Lancashire
BL9 6NX
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have not been prepared on the going concern basis as the company ceased trading on the 31st March 2024.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

AM Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements
Period from 1 January 2023 to 31 March 2024

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Straight Line

Office Equipment

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

 

AM Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements
Period from 1 January 2023 to 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 4 (2022 - 3).

 

AM Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements
Period from 1 January 2023 to 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

646

5,954

6,600

Disposals

(646)

(5,954)

(6,600)

At 31 March 2024

-

-

-

Depreciation

At 1 January 2023

444

1,834

2,278

Charge for the period

162

1,489

1,651

Eliminated on disposal

(606)

(3,323)

(3,929)

At 31 March 2024

-

-

-

Carrying amount

At 31 March 2024

-

-

-

At 31 December 2022

202

4,120

4,322

5

Debtors

Current

2024
£

2022
£

Trade debtors

-

23,903

Other debtors

32,673

58,983

 

32,673

82,886

 

AM Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements
Period from 1 January 2023 to 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

Trade creditors

-

6,347

Taxation and social security

13,949

12,994

Accruals and deferred income

-

209

Other creditors

2,394

18,866

16,343

38,416

Creditors: amounts falling due after more than one year

Note

2024
£

2022
£

Due after one year

 

Loans and borrowings

7

13,729

17,083

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2022
£

Other borrowings

13,729

17,083

8

Related party transactions

Directors' remuneration

The directors are remunerated by the company. The directors consider that their remuneration meets the criteria of being under normal market conditions.
The directors who are also shareholders receive dividends as part of this remuneration package.