Registered number
03051789
Manchester Doors & Cubicles Ltd
Report and Accounts
31 July 2024
Manchester Doors & Cubicles Ltd
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6
Manchester Doors & Cubicles Ltd
Company Information
Directors
M T Finney - Resigned 12/06/2023
P J McGuire
J J Vann -Resigned 15th May 2024
M S Frimston - Resigned 15/06/2023
N P Finney - Appointed 30/03/2023
M A Finney - Appointed 12/06/2023
D T Finney - Appointed 12/06/2023
Registered office
Unit 10, Spartan Ind Centre
Brickhouse Lane
Great Bridge
West Midlands
Registered number
03051789
Manchester Doors & Cubicles Ltd
Registered number: 03051789
Directors' Report
The directors present their report and accounts for the year ended 31 July 2024.
Principal activities
The company's principal activity during the year continued to be suppliers of joinery products and appliances to the building industry
Directors
The following persons served as directors during the year:
M T Finney - Resigned 12/06/2023
P J McGuire
J J Vann -Resigned 15th May 2024
M S Frimston - Resigned 15/06/2023
N P Finney - Appointed 30/03/2023
M A Finney - Appointed 12/06/2023
D T Finney - Appointed 12/06/2023
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 28 April 2025 and signed on its behalf.
M A Finney
Director
Manchester Doors & Cubicles Ltd
Profit and Loss Account
for the year ended 31 July 2024
2024 2023
£ £
Turnover 6,670,891 6,130,267
Cost of sales (4,728,360) (4,329,048)
Gross profit 1,942,531 1,801,219
Distribution costs (227,405) (209,545)
Administrative expenses (1,488,674) (1,431,025)
Operating profit 226,452 160,649
Profit on the disposal of tangible fixed assets - 7,100
Interest receivable - 14
Profit before taxation 226,452 167,763
Tax on profit (60,934) (44,442)
Profit for the financial year 165,518 123,321
Manchester Doors & Cubicles Ltd
Registered number: 03051789
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 258,355 313,058
Current assets
Stocks 508,123 771,960
Debtors 4 1,240,285 1,071,878
Cash at bank and in hand 325,951 516,000
2,074,359 2,359,838
Creditors: amounts falling due within one year 5 (1,562,196) (1,923,788)
Net current assets 512,163 436,050
Total assets less current liabilities 770,518 749,108
Provisions for liabilities (42,230) (51,338)
Net assets 728,288 697,770
Capital and reserves
Called up share capital 20,000 20,000
Profit and loss account 708,288 677,770
Shareholders' funds 728,288 697,770
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D T Finney
Director
Approved by the board on 28 April 2025
Manchester Doors & Cubicles Ltd
Statement of Changes in Equity
for the year ended 31 July 2024
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 August 2022 20,000 - - 654,449 674,449
Profit for the financial year 123,321 123,321
Dividends (100,000) (100,000)
At 31 July 2023 20,000 - - 677,770 697,770
At 1 August 2023 20,000 - - 677,770 697,770
Profit for the financial year 165,518 165,518
Dividends (135,000) (135,000)
At 31 July 2024 20,000 - - 708,288 728,288
Manchester Doors & Cubicles Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
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).
Going concern
The directors believe the company is well placed to manage its business risks sucessfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements over 10 years
Plant and machinery over 4 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 21 22
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 184,339 438,334 313,117 935,790
Additions - - 43,436 43,436
At 31 July 2024 184,339 438,334 356,553 979,226
Depreciation
At 1 August 2023 83,827 330,246 208,659 622,732
Charge for the year 16,977 29,136 52,026 98,139
At 31 July 2024 100,804 359,382 260,685 720,871
Net book value
At 31 July 2024 83,535 78,952 95,868 258,355
At 31 July 2023 100,512 108,088 104,458 313,058
4 Debtors 2024 2023
£ £
Trade debtors 1,055,724 881,747
Other debtors 184,561 190,131
1,240,285 1,071,878
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 878,239 1,337,463
Taxation and social security costs 216,606 66,080
Other creditors 467,351 520,245
1,562,196 1,923,788
6 Related party transactions
The directors, MA Finney, DT Finney, PJ McGuire and JJ Vann or their immediate families control the following companies and as a consequence thay are related parties. The transactions with these companies are detailed below
Sales Purchases Debtor Creditor
Year 2024 £ £ £ £
Midland Building Products Ltd 13,480 870,246 10,563 103,094
Specialist Joinery Products Ltd 80 60 - -
Southern Doors and Cubicles Ltd - - - -
Z.M.R. Limited - 801,565 - 241,647
UK Doorsets Limited 64,925 660,021 77,769 167,807
Leeds Doors & Cubicles Limited 1,868 10,896 578 137
Fire & Acoustic Seals Ltd - 80,755 - 10,943
Joinery Specialists Ltd 635 2,115 - -
Door-Kit Solutions Ltd - 73,962 - 12,770
IBS Building Products Ltd 586 60 702 -
MBP Ironmongery Ltd - 1,946 - 768
Sales Purchases Debtor Creditor
Year 2023 £ £ £ £
Midland Building Products Ltd 14,309 831,527 2,750 182,281
Specialist Joinery Products Ltd 977 68,896 - -
Southern Doors and Cubicles Ltd 513 935 - -
Z.M.R. Limited - 821,686 - 305,780
UK Doorsets Limited 1,998 480,006 - 113,552
Leeds Doors & Cubicles Limited 8,587 365 1,009 -
Fire & Acoustic Seals Ltd - 70,465 - 10,754
Joinery Specialists Ltd 822 3,293 - 1,169
Door-Kit Solutions Ltd - 641 - 239
IBS Building Products Ltd 4,921 752 992 902
The company occupies trading premises, the landlord being the directors of the company, at an annual rental of £120,000 (2023 £120,000). At the balance sheet date the creditor for rent was £24,000 (2023 £24,000).
7 Controlling party
The company is controlled by the board of directors, by virtue of their own and immediate families direct and indirect shareholdings, who own 100% of the share capital for the current and prior year.
8 Other information
Manchester Doors & Cubicles Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 10 Spartan Industrial Centre
Brickhouse Lane
Great Bridge
West Midlands
B70 0DH
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