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Registration number: 14748346

Origin Woodworks Ltd

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2025

 

Origin Woodworks Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Origin Woodworks Ltd

Company Information

Director

Dr Paul Stanbridge

Registered office

Deep Well House
2 Yarmouth Road
Hales
Norfolk
NR14 6SP

Accountants

Headspace Accountancy Ltd
Chartered AccountantsDeep Well House
2 Yarmouth Road
Hales
Norfolk
NR14 6SP

 

Origin Woodworks Ltd

(Registration number: 14748346)
Balance Sheet as at 5 April 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

13,725

16,916

Current assets

 

Stocks

5

3,750

-

Cash at bank and in hand

 

4,055

4,682

 

7,805

4,682

Creditors: Amounts falling due within one year

6

(20,652)

(18,248)

Net current liabilities

 

(12,847)

(13,566)

Total assets less current liabilities

 

878

3,350

Provisions for liabilities

(877)

(905)

Net assets

 

1

2,445

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

-

2,444

Shareholders' funds

 

1

2,445

For the financial year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 April 2025
 

.........................................
Dr Paul Stanbridge
Director

 

Origin Woodworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Deep Well House
2 Yarmouth Road
Hales
Norfolk
NR14 6SP

These financial statements were authorised for issue by the director on 12 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Origin Woodworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% on a reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Origin Woodworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Origin Woodworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 6 April 2024

22,558

22,558

Additions

1,391

1,391

At 5 April 2025

23,949

23,949

Depreciation

At 6 April 2024

5,642

5,642

Charge for the year

4,582

4,582

At 5 April 2025

10,224

10,224

Carrying amount

At 5 April 2025

13,725

13,725

At 5 April 2024

16,916

16,916

5

Stocks

2025
£

2024
£

Other inventories

3,750

-

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

8,462

4,100

Accruals and deferred income

618

600

Other creditors

11,572

13,548

20,652

18,248

7

Share capital

Allotted, called up and fully paid shares

 

Origin Woodworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

2025

2024

No.

£

No.

£

Ordinary of £1 each

1

1

1

1