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Company Registration No. 10193231 (England and Wales)
THORINGTON JOINERY LTD Unaudited accounts for the year ended 31 May 2024
THORINGTON JOINERY LTD Unaudited accounts Contents
Page
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THORINGTON JOINERY LTD Company Information for the year ended 31 May 2024
Directors
Christopher William Hayton Christopher Paul Pipe
Company Number
10193231 (England and Wales)
Registered Office
UNIT 52 RAYDON ROAD GREAT WENHAM COLCHESTER ESSEX CO7 6QD UNITED KINGDOM
Accountants
ABBEYGATE ACCOUNTANCY LTD UNIT 27 STATION HILL THURSTON BURY ST. EDMUNDS ENGLAND IP31 3QU
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THORINGTON JOINERY LTD Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
73,626 
56,255 
Current assets
Inventories
5,000 
940 
Debtors
38,593 
77,984 
Cash at bank and in hand
119,462 
225,012 
163,055 
303,936 
Creditors: amounts falling due within one year
(104,452)
(134,683)
Net current assets
58,603 
169,253 
Total assets less current liabilities
132,229 
225,508 
Creditors: amounts falling due after more than one year
(8,769)
(11,193)
Provisions for liabilities
Deferred tax
(17,774)
(10,354)
Net assets
105,686 
203,961 
Capital and reserves
Called up share capital
2 
1 
Profit and loss account
105,684 
203,960 
Shareholders' funds
105,686 
203,961 
For the year ending 31 May 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 3 October 2024 and were signed on its behalf by
Christopher William Hayton Director Company Registration No. 10193231
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THORINGTON JOINERY LTD Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
THORINGTON JOINERY LTD is a private company, limited by shares, registered in England and Wales, registration number 10193231. The registered office is UNIT 52 RAYDON ROAD, GREAT WENHAM, COLCHESTER, ESSEX, CO7 6QD, UNITED KINGDOM.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
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
15% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
33% on cost
Deferred taxation
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.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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THORINGTON JOINERY LTD Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 June 2023
112,016 
16,200 
4,034 
- 
132,250 
Additions
20,562 
6,000 
- 
652 
27,214 
At 31 May 2024
132,578 
22,200 
4,034 
652 
159,464 
Depreciation
At 1 June 2023
61,910 
11,573 
2,512 
- 
75,995 
Charge for the year
8,264 
1,282 
228 
69 
9,843 
At 31 May 2024
70,174 
12,855 
2,740 
69 
85,838 
Net book value
At 31 May 2024
62,404 
9,345 
1,294 
583 
73,626 
At 31 May 2023
50,106 
4,627 
1,522 
- 
56,255 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
37,775 
77,984 
Accrued income and prepayments
818 
- 
38,593 
77,984 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
15,264 
34,302 
Trade creditors
62,542 
50,527 
Taxes and social security
25,306 
49,004 
Loans from directors
57 
- 
Accruals
1,283 
850 
104,452 
134,683 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
7,194 
11,193 
Other creditors
1,575 
- 
8,769 
11,193 
8
Average number of employees
During the year the average number of employees was 14 (2023: 13).
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