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COMPANY REGISTRATION NUMBER: 03772703
Advanced Joinery Solutions Limited
Filleted Unaudited Financial Statements
For the period ended
31 December 2024
Advanced Joinery Solutions Limited
Statement of Financial Position
31 December 2024
31 Dec 24
30 Nov 23
Note
£
£
£
Fixed assets
Tangible assets
6
3,036
4,489
Current assets
Stocks
2,000
5,000
Debtors
7
29,537
41,466
Cash at bank and in hand
10,596
26,794
--------
--------
42,133
73,260
Creditors: amounts falling due within one year
8
35,458
56,205
--------
--------
Net current assets
6,675
17,055
-------
--------
Total assets less current liabilities
9,711
21,544
Creditors: amounts falling due after more than one year
9
4,537
8,974
Provisions
Deferred taxation
577
853
-------
--------
Net assets
4,597
11,717
-------
--------
Capital and reserves
Called up share capital
99
99
Profit and loss account
4,498
11,618
-------
--------
Shareholders funds
4,597
11,717
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Advanced Joinery Solutions Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 4 March 2025 , and are signed on behalf of the board by:
J Owen
Director
Company registration number: 03772703
Advanced Joinery Solutions Limited
Notes to the Financial Statements
Period from 1 December 2023 to 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units 5-7 Sergeants Way, Elms Farm Industrial Estate, Bedford, MK41 0EH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting period
These financial statements are for the period 1 December 2023 to 31 December 2024. The comparative period is for the year ended 30 November 2023.
4. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and of value added tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Office equipment
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Pension costs
Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.
5. Employee numbers
The average number of persons employed by the company during the period amounted to 3 (2023: 3 ).
6. Tangible assets
Plant and machinery
Fixtures and fittings
Office equipment
Total
£
£
£
£
Cost
At 1 December 2023 and 31 December 2024
43,223
1,170
3,979
48,372
--------
-------
-------
--------
Depreciation
At 1 December 2023
40,214
1,154
2,515
43,883
Charge for the period
806
5
642
1,453
--------
-------
-------
--------
At 31 December 2024
41,020
1,159
3,157
45,336
--------
-------
-------
--------
Carrying amount
At 31 December 2024
2,203
11
822
3,036
--------
-------
-------
--------
At 30 November 2023
3,009
16
1,464
4,489
--------
-------
-------
--------
7. Debtors
31 Dec 24
30 Nov 23
£
£
Trade debtors
28,088
37,870
Other debtors
1,449
3,596
--------
--------
29,537
41,466
--------
--------
8. Creditors: amounts falling due within one year
31 Dec 24
30 Nov 23
£
£
Bank loans
4,101
3,981
Trade creditors
13,550
42,205
Social security and other taxes
14,062
7,269
Other creditors
3,745
2,750
--------
--------
35,458
56,205
--------
--------
The bank loan is secured by way of a debenture held over the company's assets.
9. Creditors: amounts falling due after more than one year
31 Dec 24
30 Nov 23
£
£
Bank loans
4,537
8,974
-------
-------
The bank loan is secured by way of a debenture held over the company's assets.
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
31 Dec 24
30 Nov 23
£
£
Included in provisions
577
853
----
----
The deferred tax account consists of the tax effect of timing differences in respect of:
31 Dec 24
30 Nov 23
£
£
Accelerated capital allowances
577
853
----
----
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
31 Dec 24
30 Nov 23
£
£
Later than 1 year and not later than 5 years
20,000
19,653
--------
--------