2 2 Speakman Joinery Limited 05169609 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is joinery Digita Accounts Production Advanced 6.30.9574.0 true 05169609 2023-08-01 2024-07-31 05169609 2024-07-31 05169609 core:CurrentFinancialInstruments 2024-07-31 05169609 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 05169609 core:Non-currentFinancialInstruments 2024-07-31 05169609 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 05169609 bus:SmallEntities 2023-08-01 2024-07-31 05169609 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 05169609 bus:FilletedAccounts 2023-08-01 2024-07-31 05169609 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 05169609 bus:RegisteredOffice 2023-08-01 2024-07-31 05169609 bus:Director2 2023-08-01 2024-07-31 05169609 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05169609 countries:EnglandWales 2023-08-01 2024-07-31 05169609 2023-07-31 05169609 2022-08-01 2023-07-31 05169609 2023-07-31 05169609 core:CurrentFinancialInstruments 2023-07-31 05169609 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 05169609 core:Non-currentFinancialInstruments 2023-07-31 05169609 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 xbrli:pure iso4217:GBP

Registration number: 05169609

Speakman Joinery Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Speakman Joinery Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Speakman Joinery Limited

(Registration number: 05169609)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

374,754

374,754

Current assets

 

Debtors

5

(13,197)

8,529

Cash at bank and in hand

 

11,537

18,780

 

(1,660)

27,309

Creditors: Amounts falling due within one year

6

(61,676)

(45,585)

Net current liabilities

 

(63,336)

(18,276)

Total assets less current liabilities

 

311,418

356,478

Creditors: Amounts falling due after more than one year

6

(8,333)

(18,981)

Provisions for liabilities

(10,450)

(10,450)

Net assets

 

292,635

327,047

Capital and reserves

 

Called up share capital

2

2

Other reserves

44,550

44,550

Retained earnings

248,083

282,495

Shareholders' funds

 

292,635

327,047

 

Speakman Joinery Limited

(Registration number: 05169609)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 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 his 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 2 April 2025
 

.........................................
Mr A Speakman
Director

 

Speakman Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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:
Watson Laithe Farm
Accrington Road
Hapton
Lancashire
BB11 5QG

These financial statements were authorised for issue by the director on 2 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 in sterling (£) 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.

Government grants

Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss.

Tax

The tax expense for the period comprises current 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.

 

Speakman Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Speakman Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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 2 (2023 - 2).

4

Investment properties

2024
£

At 1 August

374,754

At 31 July

374,754

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

2023
£

Trade debtors

(13,197)

8,529

 

(13,197)

8,529

 

Speakman Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

10,648

10,000

Trade creditors

 

828

31

Taxation and social security

 

49,139

34,792

Accruals and deferred income

 

350

300

Other creditors

 

711

462

 

61,676

45,585

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

8,333

18,981

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

8,333

18,981

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,648

10,000