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MF CARPENTRY LTD

Registered Number
11566096
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

MF CARPENTRY LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

TRAFFORD, Fergus Henry
WATKINS, Marc Antony

Registered Address

5 Rotherhill Road
Crowborough
TN6 3AU

Registered Number

11566096 (England and Wales)
MF CARPENTRY LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets472,08519,322
72,08519,322
Current assets
Debtors5417,121305,012
Cash at bank and on hand132,240202,670
549,361507,682
Creditors amounts falling due within one year6(163,760)(156,201)
Net current assets (liabilities)385,601351,481
Total assets less current liabilities457,686370,803
Creditors amounts falling due after one year7(74,052)(29,640)
Provisions for liabilities(18,021)-
Net assets365,613341,163
Capital and reserves
Called up share capital22
Profit and loss account365,611341,161
Shareholders' funds365,613341,163
The financial statements were approved and authorised for issue by the Board of Directors on 4 February 2025, and are signed on its behalf by:
TRAFFORD, Fergus Henry
Director
Registered Company No. 11566096
MF CARPENTRY LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 rendering of services.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery3
Vehicles5
Office Equipment3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year44
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 October 2331,898
Additions76,589
At 30 September 24108,487
Depreciation and impairment
At 01 October 2312,576
Charge for year23,826
At 30 September 2436,402
Net book value
At 30 September 2472,085
At 30 September 2319,322
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables411,409293,055
Other debtors3,3129,722
Prepayments and accrued income2,4002,235
Total417,121305,012
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables59,20962,481
Bank borrowings and overdrafts16,23914,032
Taxation and social security86,71278,587
Accrued liabilities and deferred income1,6001,101
Total163,760156,201
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts74,05229,640
Total74,05229,640