Company Registration No. 08077024 (England and Wales)
Interior Joinery Contracts Ltd
Unaudited accounts
for the year ended 30 April 2024
Interior Joinery Contracts Ltd
Unaudited accounts
Contents
Interior Joinery Contracts Ltd
Statement of financial position
as at 30 April 2024
Tangible assets
8,139
13,768
Cash at bank and in hand
15,879
18,358
Creditors: amounts falling due within one year
(201,561)
(193,381)
Net current (liabilities)/assets
(15,282)
65,572
Total assets less current liabilities
(7,143)
79,340
Creditors: amounts falling due after more than one year
(13,436)
(22,681)
Net (liabilities)/assets
(20,579)
56,659
Called up share capital
10
10
Profit and loss account
(20,589)
56,649
Shareholders' funds
(20,579)
56,659
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by
A D Laffan
Director
Company Registration No. 08077024
Interior Joinery Contracts Ltd
Notes to the Accounts
for the year ended 30 April 2024
Interior Joinery Contracts Ltd is a private company, limited by shares, registered in England and Wales, registration number 08077024. The registered office is Units 6 & 7 Goscote Industrial Estate, Slacky Lane, Walsall, West Midlands, WS3 1LX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Interior Joinery Contracts Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2023
118,092
16,390
5,558
140,040
Disposals
-
(16,390)
-
(16,390)
At 30 April 2024
118,092
-
5,558
123,650
At 1 May 2023
108,322
13,473
4,477
126,272
Charge for the year
2,442
729
270
3,441
On disposals
-
(14,202)
-
(14,202)
At 30 April 2024
110,764
-
4,747
115,511
At 30 April 2024
7,328
-
811
8,139
At 30 April 2023
9,770
2,917
1,081
13,768
Amounts falling due within one year
Trade debtors
113,305
148,539
Accrued income and prepayments
4,345
4,345
Other debtors
30,250
1,536
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,000
9,706
Trade creditors
92,522
67,683
Taxes and social security
17,064
7,342
Other creditors
81,565
107,261
7
Creditors: amounts falling due after more than one year
2024
2023
At the year end £21,000 was owed by a director, the loan was unsecured, interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 12 (2023: 13).