Company registration number 02759819 (England and Wales)
S & B CARPENTRY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
S & B CARPENTRY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
S & B CARPENTRY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
2,696
Investment property
5
450,000
450,000
450,000
452,696
Current assets
Cash at bank and in hand
15,275
35,136
Creditors: amounts falling due within one year
6
(23,718)
(21,892)
Net current (liabilities)/assets
(8,443)
13,244
Total assets less current liabilities
441,557
465,940
Creditors: amounts falling due after more than one year
8
(38,128)
(51,266)
Provisions for liabilities
(50,595)
(51,108)
Net assets
352,834
363,566
Capital and reserves
Called up share capital
100
100
Revaluation reserve
9
215,695
215,695
Profit and loss reserves
137,039
147,771
Total equity
352,834
363,566

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial 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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

S & B CARPENTRY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 December 2024 and are signed on its behalf by:
S Chana
Director
Company Registration No. 02759819
S & B CARPENTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

S & B Carpentry Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wellesley House, Duke of Wellington Avenue, Royal Arsenal, London, SE18 6SS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. Where a service is incomplete at the year end, turnover represents the sales value of services provided based on an appropriate proportion of time spent. Any partially completed services that are un-billed at year end are recorded in accrued income within other debtors.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account and then transferred to an undistributable reserve.

 

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

S & B CARPENTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).

2024
2023
Number
Number
Total
2
2
4
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 April 2023
20,459
Disposals
(20,459)
At 31 March 2024
-
0
Depreciation and impairment
At 1 April 2023
17,763
Depreciation charged in the year
2,696
Eliminated in respect of disposals
(20,459)
At 31 March 2024
-
0
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
2,696
S & B CARPENTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
450,000

The fair value of the investment property has been arrived at on the basis of a valuation carried by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

 

6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
15,056
14,290
Trade creditors
-
0
1,080
Taxation and social security
2,686
1,866
Other creditors
5,976
4,656
23,718
21,892
7
Loans and overdrafts
2024
2023
£
£
Bank loans
53,184
65,556
Payable within one year
15,056
14,290
Payable after one year
38,128
51,266

Included within creditors at the balance sheet date is an amount of £18,477 (2023: £25,278) in relation to a bank loan. The loan is secured by way of a legal charge over the property owned by the company.

 

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
38,128
51,266
S & B CARPENTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
9
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
215,695
215,695
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