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Aspen Woodwork Limited

Registered Number
03122928
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Aspen Woodwork Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

Neil Alan Porter

Registered Address

5/6 Salmon Fields Business Village
Oldham
OL2 6HT

Place of Business

Unit 16-17 Parkside Industrial Estate

Edge Lane Street

Royton

Oldham

OL2 6DS


Registered Number

03122928 (England and Wales)
Aspen Woodwork Limited
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets444,72851,510
44,72851,510
Current assets
Stocks1,0001,000
Debtors545,32177,110
Cash at bank and on hand286,036230,588
332,357308,698
Creditors amounts falling due within one year6(150,706)(158,998)
Net current assets (liabilities)181,651149,700
Total assets less current liabilities226,379201,210
Creditors amounts falling due after one year7(9,826)(21,115)
Provisions for liabilities(8,498)(9,787)
Net assets208,055170,308
Capital and reserves
Called up share capital200200
Profit and loss account207,855170,108
Shareholders' funds208,055170,308
The financial statements were approved and authorised for issue by the Director on 5 June 2025, and are signed on its behalf by:
Neil Alan Porter
Director
Registered Company No. 03122928
Aspen Woodwork Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Amortisation is provided over its estimated useful life.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Reducing balance (%)Straight line (years)
Plant and machinery20-
Vehicles-5
Finance leases and hire purchase contracts
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year77
3.Intangible assets

Total

£
Cost or valuation
At 01 January 2460,000
At 31 December 2460,000
Amortisation and impairment
At 01 January 2460,000
At 31 December 2460,000
Net book value
At 31 December 24-
At 31 December 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 24105,260
Additions1,750
At 31 December 24107,010
Depreciation and impairment
At 01 January 2453,750
Charge for year8,532
At 31 December 2462,282
Net book value
At 31 December 2444,728
At 31 December 2351,510
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables45,32177,110
Total45,32177,110
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables68,09596,156
Taxation and social security68,65048,503
Finance lease and HP contracts11,28911,289
Other creditors2,67250
Accrued liabilities and deferred income-3,000
Total150,706158,998
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts9,82621,115
Total9,82621,115