IRIS Accounts Production v25.1.3.33 04096306 director 1.11.23 31.10.24 31.10.24 false true false false true false Ordinary 1.00000 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh040963062023-10-31040963062024-10-31040963062023-11-012024-10-31040963062022-10-31040963062022-11-012023-10-31040963062023-10-3104096306ns15:EnglandWales2023-11-012024-10-3104096306ns14:PoundSterling2023-11-012024-10-3104096306ns10:Director12023-11-012024-10-3104096306ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3104096306ns10:SmallEntities2023-11-012024-10-3104096306ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3104096306ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3104096306ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3104096306ns10:FullAccounts2023-11-012024-10-3104096306ns10:OrdinaryShareClass12023-11-012024-10-3104096306ns10:RegisteredOffice2023-11-012024-10-3104096306ns5:CurrentFinancialInstruments2024-10-3104096306ns5:CurrentFinancialInstruments2023-10-3104096306ns5:Non-currentFinancialInstruments2024-10-3104096306ns5:Non-currentFinancialInstruments2023-10-3104096306ns5:ShareCapital2024-10-3104096306ns5:ShareCapital2023-10-3104096306ns5:RetainedEarningsAccumulatedLosses2024-10-3104096306ns5:RetainedEarningsAccumulatedLosses2023-10-3104096306ns5:PlantMachinery2023-11-012024-10-3104096306ns5:FurnitureFittings2023-11-012024-10-3104096306ns5:MotorVehicles2023-11-012024-10-3104096306ns5:ComputerEquipment2023-11-012024-10-3104096306ns5:PlantMachinery2023-10-3104096306ns5:FurnitureFittings2023-10-3104096306ns5:MotorVehicles2023-10-3104096306ns5:ComputerEquipment2023-10-3104096306ns5:PlantMachinery2024-10-3104096306ns5:FurnitureFittings2024-10-3104096306ns5:MotorVehicles2024-10-3104096306ns5:ComputerEquipment2024-10-3104096306ns5:PlantMachinery2023-10-3104096306ns5:FurnitureFittings2023-10-3104096306ns5:MotorVehicles2023-10-3104096306ns5:ComputerEquipment2023-10-3104096306ns5:CostValuation2023-10-3104096306ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3104096306ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3104096306ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-10-3104096306ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-10-3104096306ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-10-3104096306ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-10-3104096306ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-10-3104096306ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-10-3104096306ns5:BetweenOneFiveYears2024-10-3104096306ns5:BetweenOneFiveYears2023-10-3104096306ns10:OrdinaryShareClass12024-10-31
REGISTERED NUMBER: 04096306 (England and Wales)



















MICHAEL PEPPER JOINERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






MICHAEL PEPPER JOINERY LIMITED (REGISTERED NUMBER: 04096306)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MICHAEL PEPPER JOINERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: Mr J J Pepper





REGISTERED OFFICE: Wetherby Road
Osmaston Park Industrial Estate
DERBY
DE24 8HL





REGISTERED NUMBER: 04096306 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

MICHAEL PEPPER JOINERY LIMITED (REGISTERED NUMBER: 04096306)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 339,094 227,828
Investments 5 1 1
339,095 227,829

CURRENT ASSETS
Stocks 6 103,012 155,036
Debtors 7 1,065,068 1,117,961
Cash at bank and in hand 1,054,043 860,870
2,222,123 2,133,867
CREDITORS
Amounts falling due within one year 8 821,732 770,327
NET CURRENT ASSETS 1,400,391 1,363,540
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,739,486

1,591,369

CREDITORS
Amounts falling due after more than one
year

9

328,259

369,509
NET ASSETS 1,411,227 1,221,860

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,411,127 1,221,760
SHAREHOLDERS' FUNDS 1,411,227 1,221,860

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MICHAEL PEPPER JOINERY LIMITED (REGISTERED NUMBER: 04096306)

BALANCE SHEET - continued
31 OCTOBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 May 2025 and were signed by:





Mr J J Pepper - Director


MICHAEL PEPPER JOINERY LIMITED (REGISTERED NUMBER: 04096306)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Michael Pepper Joinery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MICHAEL PEPPER JOINERY LIMITED (REGISTERED NUMBER: 04096306)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 33 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 354,251 22,144 63,188 15,899 455,482
Additions 189,845 - 4,000 666 194,511
At 31 October 2024 544,096 22,144 67,188 16,565 649,993
DEPRECIATION
At 1 November 2023 193,044 13,869 14,905 5,836 227,654
Charge for year 66,409 2,069 12,237 2,530 83,245
At 31 October 2024 259,453 15,938 27,142 8,366 310,899
NET BOOK VALUE
At 31 October 2024 284,643 6,206 40,046 8,199 339,094
At 31 October 2023 161,207 8,275 48,283 10,063 227,828

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 1
NET BOOK VALUE
At 31 October 2024 1
At 31 October 2023 1

6. STOCKS
2024 2023
£    £   
Stocks 92,742 53,505
Work-in-progress 10,270 101,531
103,012 155,036

MICHAEL PEPPER JOINERY LIMITED (REGISTERED NUMBER: 04096306)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 946,167 1,000,558
Other debtors 99,873 71,493
Prepayments and accrued income 19,028 45,910
1,065,068 1,117,961

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 11,972 11,972
Trade creditors 324,699 309,476
Corporation tax 142,434 170,396
Social security and other taxes 26,323 21,051
VAT 201,935 157,455
Other creditors 19,884 24,983
Accruals and deferred income 84,485 64,994
821,732 770,327

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 6,667 10,000
Bank loans - 2-5 years - 6,667
Other loans - 1-2 years 11,972 11,972
Other loans - 2-5 years 35,916 35,916
Other loans more 5yrs instal 273,704 304,954
328,259 369,509

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 273,704 304,954

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Between one and five years 58,800 56,340

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

MICHAEL PEPPER JOINERY LIMITED (REGISTERED NUMBER: 04096306)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


12. RELATED PARTY DISCLOSURES

As at 31 October 2024 the company owed £333,564 (2023: £364,814) to a connected company. There is a formal agreement in place to repay this loan over 35 years, of which 32 years is remaining at the year end. No interest is charged on this loan.