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Registration number: 09786063

Pankhurst Joinery Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Pankhurst Joinery Limited
(Registration number: 09786063)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Pankhurst Joinery Limited
(Registration number: 09786063)

Company Information

Director

Mr T Townsend

Registered office

8 Pankhurst Close
Exmouth
Devon
EX8 2RN

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Pankhurst Joinery Limited
(Registration number: 09786063)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,610

6,041

Current assets

 

Stocks

5

10,000

13,000

Debtors

6

33,019

33,087

Cash at bank and in hand

 

76,031

57,090

 

119,050

103,177

Creditors: Amounts falling due within one year

7

(25,991)

(24,499)

Net current assets

 

93,059

78,678

Total assets less current liabilities

 

97,669

84,719

Provisions for liabilities

(876)

(1,148)

Net assets

 

96,793

83,571

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

95,793

82,571

Shareholders' funds

 

96,793

83,571

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Pankhurst Joinery Limited
(Registration number: 09786063)

Balance Sheet as at 30 September 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 January 2025
 

.........................................
Mr T Townsend
Director

 

Pankhurst Joinery Limited
(Registration number: 09786063)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 Pankhurst Close
Exmouth
Devon
EX8 2RN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102
Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as
disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Pankhurst Joinery Limited
(Registration number: 09786063)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% straight line

Fixtures, Fittings and Equipment

25% straight line

Motor Vehicles

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Pankhurst Joinery Limited
(Registration number: 09786063)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Pankhurst Joinery Limited
(Registration number: 09786063)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

4,769

700

15,815

21,284

Additions

1,173

-

-

1,173

At 30 September 2024

5,942

700

15,815

22,457

Depreciation

At 1 October 2023

4,043

700

10,500

15,243

Charge for the year

622

-

1,982

2,604

At 30 September 2024

4,665

700

12,482

17,847

Carrying amount

At 30 September 2024

1,277

-

3,333

4,610

At 30 September 2023

726

-

5,315

6,041

5

Stocks

2024
£

2023
£

Other stocks

10,000

13,000

6

Debtors

2024
£

2023
£

Trade debtors

19,918

16,035

Other debtors

12,093

16,060

Prepayments and accrued income

1,008

992

Total current trade and other debtors

33,019

33,087

 

Pankhurst Joinery Limited
(Registration number: 09786063)

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

10,383

8,744

Amounts owed to group undertakings and undertakings in which the company has a participating interest

5,590

10,870

Taxation and social security

 

8,970

1,929

Other creditors

 

(852)

331

Accrued expenses

 

1,900

2,625

 

25,991

24,499

8

Parent and ultimate parent undertaking

The company's immediate parent is AHE Properties Limited, incorporated in the UK.