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Registered number: 14789716
SM Carpentry IOW Limited
Financial Statements
For The Year Ended 31 July 2024
Apple Accountancy Limited
Chartered Certified Accountants
5 Holyrood Street
Newport
Isle of Wight
PO30 5AU
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of SM Carpentry IOW Limited For The Year Ended 31 July 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of SM Carpentry IOW Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of SM Carpentry IOW Limited , as a body, in accordance with the terms of our engagement letter dated 20 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of SM Carpentry IOW Limited and state those matters that we have agreed to state to the director of SM Carpentry IOW Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SM Carpentry IOW Limited and its director as a body for our work or for this report.
It is your duty to ensure that SM Carpentry IOW 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 SM Carpentry IOW Limited . You consider that SM Carpentry IOW Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of SM Carpentry IOW 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.
Signed
9th November 2024
Apple Accountancy Limited
Chartered Certified Accountants
5 Holyrood Street
Newport
Isle of Wight
PO30 5AU
Page 1
Page 2
Balance Sheet
Registered number: 14789716
31 July 2024 31 July 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,783 -
26,783 -
CURRENT ASSETS
Debtors - 100
Cash at bank and in hand 6,607 -
6,607 100
Creditors: Amounts Falling Due Within One Year (24,499 ) -
NET CURRENT ASSETS (LIABILITIES) (17,892 ) 100
TOTAL ASSETS LESS CURRENT LIABILITIES 8,891 100
NET ASSETS 8,891 100
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 8,791 -
SHAREHOLDERS' FUNDS 8,891 100
Page 2
Page 3
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Scott Maguire
Director
18th November 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
SM Carpentry IOW Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14789716 . The registered office is 5 Holyrood Street, Newport, Isle of Wight, PO30 5AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% Straight line
Motor Vehicles 25% Reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: )
1 -
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 August 2023 - - -
Additions 28,924 10,000 38,924
As at 31 July 2024 28,924 10,000 38,924
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 August 2023 - - -
Provided during the period 9,641 2,500 12,141
As at 31 July 2024 9,641 2,500 12,141
Net Book Value
As at 31 July 2024 19,283 7,500 26,783
As at 1 August 2023 - - -
5. Share Capital
31 July 2024 31 July 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
Page 5