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Registered number: 09458674
Pro Carpentry Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Charlton Baker
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09458674
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 330,650 192,564
330,650 192,564
CURRENT ASSETS
Stocks 6 1,320 1,250
Debtors 7 288,995 276,974
Cash at bank and in hand 316,651 320,491
606,966 598,715
Creditors: Amounts Falling Due Within One Year 8 (183,663 ) (172,584 )
NET CURRENT ASSETS (LIABILITIES) 423,303 426,131
TOTAL ASSETS LESS CURRENT LIABILITIES 753,953 618,695
Creditors: Amounts Falling Due After More Than One Year 9 (14,997 ) (24,995 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,736 ) (10,292 )
NET ASSETS 721,220 583,408
CAPITAL AND RESERVES
Called up share capital 10 140 140
Profit and Loss Account 721,080 583,268
SHAREHOLDERS' FUNDS 721,220 583,408
Page 1
Page 2
For the year ending 28 February 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 Darren Lilley
Director
29/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pro Carpentry Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09458674 . The registered office is 33 Duke Street, Trowbridge, Wiltshire, BA14 8EA.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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:
Freehold 0
Plant & Machinery 18
Motor Vehicles 25
Fixtures & Fittings 18
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 9)
8 9
4. Intangible Assets
Other
£
Cost
As at 1 March 2023 1,740
As at 28 February 2024 1,740
Amortisation
As at 1 March 2023 1,740
As at 28 February 2024 1,740
Net Book Value
As at 28 February 2024 -
As at 1 March 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 March 2023 135,897 1,299 97,775 14,931 249,902
Additions 98,905 - 82,116 - 181,021
Disposals - - (36,000 ) - (36,000 )
As at 28 February 2024 234,802 1,299 143,891 14,931 394,923
Depreciation
As at 1 March 2023 - 1,002 45,454 10,882 57,338
Provided during the period - 54 30,763 728 31,545
Disposals - - (24,610 ) - (24,610 )
As at 28 February 2024 - 1,056 51,607 11,610 64,273
Net Book Value
As at 28 February 2024 234,802 243 92,284 3,321 330,650
As at 1 March 2023 135,897 297 52,321 4,049 192,564
Page 4
Page 5
6. Stocks
2024 2023
£ £
Stock 1,320 1,250
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 212,538 138,382
Prepayments and accrued income 2,634 6,000
Other debtors 55,326 130,326
VAT 18,497 2,266
288,995 276,974
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 81,378 73,022
Bank loans and overdrafts 10,000 10,000
Other creditors 1,471 1,302
Taxation and social security 90,814 88,260
183,663 172,584
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,997 24,995
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 140 140
Page 5