Registered number
04650027
Artisan Joinery Limited
Filleted Accounts
31 December 2024
Artisan Joinery Limited
Registered number: 04650027
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 56,387 55,433
Current assets
Stocks 66,857 108,553
Debtors 4 32,894 19,608
Cash at bank and in hand 111,241 84,089
210,992 212,250
Creditors: amounts falling due within one year 5 (40,183) (39,858)
Net current assets 170,809 172,392
Total assets less current liabilities 227,196 227,825
Creditors: amounts falling due after more than one year 6 (4,131) (14,261)
Net assets 223,065 213,564
Capital and reserves
Called up share capital 657 657
Profit and loss account 222,408 212,907
Shareholders' funds 223,065 213,564
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Christie
Director
Approved by the board on 3 March 2025
Artisan Joinery Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 10% Straight line
Plant and machinery Between 5% and 20% Straight line
Motor vehicles 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 34,066 93,426 26,308 153,800
Additions - - 15,000 15,000
At 31 December 2024 34,066 93,426 41,308 168,800
Depreciation
At 1 January 2024 29,713 53,755 14,899 98,367
Charge for the year 2,089 3,949 8,008 14,046
At 31 December 2024 31,802 57,704 22,907 112,413
Net book value
At 31 December 2024 2,264 35,722 18,401 56,387
At 31 December 2023 4,353 39,671 11,409 55,433
4 Debtors 2024 2023
£ £
Trade debtors 2,538 19,382
Other debtors 30,356 226
32,894 19,608
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 5,694 1,424
Taxation and social security costs 23,841 27,786
40,183 39,858
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,131 14,261
7 Controlling party
The ultimate controlling party is David Christie, who owns 61% of the company's shareholding.
8 Other information
Artisan Joinery Limited is a private company limited by shares and incorporated in England. Its registered office is:
Riversdale
Ovington
Prudhoe
Northumberland
NE42 6DF
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