Registered number
06517203
Carpentry Division Ltd
Filleted Accounts
29 February 2024
Carpentry Division Ltd
Registered number: 06517203
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,508,114 1,451,971
Current assets
Debtors 4 207,724 66,962
Cash at bank and in hand 241,669 263,907
449,393 330,869
Creditors: amounts falling due within one year 5 (297,818) (393,001)
Net current assets/(liabilities) 151,575 (62,132)
Total assets less current liabilities 1,659,689 1,389,839
Creditors: amounts falling due after more than one year 6 (705,650) (749,942)
Provisions for liabilities (6,515) (6,515)
Net assets 947,524 633,382
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 946,524 632,382
Shareholders' funds 947,524 633,382
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.
Wojciech Zielinski
Director
Approved by the board on 15 November 2024
Carpentry Division Ltd
Notes to the Accounts
for the year ended 29 February 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.
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:
Freehold buildings non-depreciating
Leasehold land and buildings over the lease term
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
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. 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. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.
Pensions
Contributions to stakeholder pension plans are expensed when paid.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 1,417,682 225,344 37,007 1,680,033
Additions - 50,865 32,577 83,442
Disposals - - (17,008) (17,008)
At 29 February 2024 1,417,682 276,209 52,576 1,746,467
Depreciation
At 1 March 2023 - 198,137 29,925 228,062
Charge for the year - 16,191 11,108 27,299
On disposals - - (17,008) (17,008)
At 29 February 2024 - 214,328 24,025 238,353
Net book value
At 29 February 2024 1,417,682 61,881 28,551 1,508,114
At 28 February 2023 1,417,682 27,207 7,082 1,451,971
4 Debtors 2024 2023
£ £
Trade debtors 195,450 59,349
Other debtors, prepayments and deposits 12,274 7,613
207,724 66,962
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 104,324 104,324
Trade creditors 95,469 172,059
Taxation and social security costs 98,025 101,982
Other creditors - 14,636
297,818 393,001
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 705,650 749,942
7 Other information
Carpentry Division Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 18-19 Fleetway Business Park,
Wadsworth Road
Perivale, Greenford,
Middlesex,
UB6 7LD
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