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REGISTERED NUMBER: 12377524 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2024

for

PW Joinery Ltd

PW Joinery Ltd (Registered number: 12377524)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PW Joinery Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: P A J Worth
Mrs S Worth





REGISTERED OFFICE: 10 Medina Gardens
Oakley
Basingstoke
Hampshire
RG23 7AY





REGISTERED NUMBER: 12377524 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

PW Joinery Ltd (Registered number: 12377524)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,000
Tangible assets 5 20,216 21,398
20,216 23,398

CURRENT ASSETS
Stocks 4,700 4,700
Debtors 6 9,325 12,404
Cash at bank 24,524 13,813
38,549 30,917
CREDITORS
Amounts falling due within one year 7 54,949 54,117
NET CURRENT LIABILITIES (16,400 ) (23,200 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,816

198

PROVISIONS FOR LIABILITIES 8 3,511 -
NET ASSETS 305 198

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 205 98
SHAREHOLDERS' FUNDS 305 198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PW Joinery Ltd (Registered number: 12377524)

Balance Sheet - continued
31 December 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:




P A J Worth - Director



Mrs S Worth - Director


PW Joinery Ltd (Registered number: 12377524)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

PW Joinery Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

PW Joinery Ltd (Registered number: 12377524)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 10,000
AMORTISATION
At 1 January 2024 8,000
Amortisation for year 2,000
At 31 December 2024 10,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 2,000

PW Joinery Ltd (Registered number: 12377524)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024
and 31 December 2024 57,577 14,400 1,641 73,618
DEPRECIATION
At 1 January 2024 44,018 7,200 1,002 52,220
Charge for year 885 - 297 1,182
At 31 December 2024 44,903 7,200 1,299 53,402
NET BOOK VALUE
At 31 December 2024 12,674 7,200 342 20,216
At 31 December 2023 13,559 7,200 639 21,398

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 8,160 -
Other debtors 1,165 12,404
9,325 12,404

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Taxation and social security 14,104 10,669
Other creditors 40,845 43,448
54,949 54,117

8. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 3,511 -

Deferred
tax
£   
Accelerated capital allowances 3,511
Balance at 31 December 2024 3,511