Company registration number 07906631 (England and Wales)
KH CARPENTRY & BUILDING SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
KH CARPENTRY & BUILDING SERVICES LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
KH CARPENTRY & BUILDING SERVICES LTD
COMPANY INFORMATION
- 1 -
Directors
Mr K T Q Hawkins
Mrs M F Hawkins
Company number
07906631
Registered office
10 Bridge Street
Christchurch
Dorset
BH23 1EF
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
KH CARPENTRY & BUILDING SERVICES LTD
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
6,407
7,294
Current assets
Stocks
17,457
40,834
Debtors
5
23,490
20,727
Cash at bank and in hand
27,534
19,460
68,481
81,021
Creditors: amounts falling due within one year
6
(66,952)
(75,645)
Net current assets
1,529
5,376
Total assets less current liabilities
7,936
12,670
Provisions for liabilities
(1,217)
(1,385)
Net assets
6,719
11,285
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
6,619
11,185
Total equity
6,719
11,285
KH CARPENTRY & BUILDING SERVICES LTD
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 April 2025 and are signed on its behalf by:
Mrs M F Hawkins
Director
Company Registration No. 07906631
The notes on pages 4 to 7 form part of these financial statements
KH CARPENTRY & BUILDING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information
KH Carpentry & Building Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 10 Bridge Street, Christchurch, Dorset, BH23 1EF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computers
25% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Work in progress is valued at the sales value of work done, net of VAT, at the balance sheet date.
KH CARPENTRY & BUILDING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
5
KH CARPENTRY & BUILDING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
20,000
Amortisation and impairment
At 1 January 2024 and 31 December 2024
20,000
Carrying amount
At 31 December 2024
At 31 December 2023
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
3,620
225
4,909
59,372
68,126
Additions
999
999
At 31 December 2024
3,620
225
5,908
59,372
69,125
Depreciation and impairment
At 1 January 2024
3,441
216
4,504
52,671
60,832
Depreciation charged in the year
45
2
164
1,675
1,886
At 31 December 2024
3,486
218
4,668
54,346
62,718
Carrying amount
At 31 December 2024
134
7
1,240
5,026
6,407
At 31 December 2023
179
9
405
6,701
7,294
KH CARPENTRY & BUILDING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
9,481
4,124
Other debtors
12,515
13,284
Prepayments and accrued income
1,494
3,319
23,490
20,727
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
28,075
37,099
Taxation and social security
35,727
36,088
Accruals and deferred income
3,150
2,458
66,952
75,645
7
Directors' transactions
During the year the directors loan account was overdrawn by a maximum balance of £19,832. At the year end the balance owed was £12,515 (2023 - £13,284) this has been repaid within 9 months of the year end. Interest of £275 was charged on this loan.