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Company No: 04799219 (England and Wales)

MANDEVILLE JOINERY LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

MANDEVILLE JOINERY LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

MANDEVILLE JOINERY LIMITED

BALANCE SHEET

As at 30 September 2024
MANDEVILLE JOINERY LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 32,693 33,388
32,693 33,388
Current assets
Stocks 5 38,515 43,236
Debtors 6 22,602 8,510
Cash at bank and in hand 62,864 36,431
123,981 88,177
Creditors: amounts falling due within one year 7 ( 71,865) ( 52,727)
Net current assets 52,116 35,450
Total assets less current liabilities 84,809 68,838
Creditors: amounts falling due after more than one year 8 ( 16,873) ( 32,389)
Provision for liabilities ( 6,168) ( 5,541)
Net assets 61,768 30,908
Capital and reserves
Called-up share capital 500 500
Capital redemption reserve 500 500
Profit and loss account 60,768 29,908
Total shareholder's funds 61,768 30,908

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Mandeville Joinery Limited (registered number: 04799219) were approved and authorised for issue by the Director on 12 December 2024. They were signed on its behalf by:

P J Taylor
Director
MANDEVILLE JOINERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
MANDEVILLE JOINERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mandeville Joinery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 4 Townsend Buildings, Melbury Osmond, DT2 0LP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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 value added tax, returns, rebates, and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 33 % reducing balance
Vehicles 25 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid to pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 7 8

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2023 12,000 12,000
At 30 September 2024 12,000 12,000
Accumulated amortisation
At 01 October 2023 12,000 12,000
At 30 September 2024 12,000 12,000
Net book value
At 30 September 2024 0 0
At 30 September 2023 0 0

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 October 2023 129,982 13,600 5,467 149,049
Additions 10,673 0 233 10,906
At 30 September 2024 140,655 13,600 5,700 159,955
Accumulated depreciation
At 01 October 2023 103,690 7,863 4,108 115,661
Charge for the financial year 9,887 1,434 280 11,601
At 30 September 2024 113,577 9,297 4,388 127,262
Net book value
At 30 September 2024 27,078 4,303 1,312 32,693
At 30 September 2023 26,292 5,737 1,359 33,388

5. Stocks

2024 2023
£ £
Stocks 2,880 7,050
Work in progress 35,635 36,186
38,515 43,236

6. Debtors

2024 2023
£ £
Trade debtors 20,966 3,724
Corporation tax 0 2,856
Other debtors 1,636 1,930
22,602 8,510

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 6,438 951
Taxation and social security 23,097 20,317
Other creditors 32,330 21,459
71,865 52,727

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 7,500 17,500
Other creditors 9,373 14,889
16,873 32,389

There are no amounts included above in respect of which any security has been given by the small entity.