1 November 2023 v2025.44.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP031089202023-11-012024-10-31031089202024-10-31031089202023-10-3103108920core:WithinOneYear2024-10-3103108920core:WithinOneYear2023-10-3103108920core:AfterOneYear2024-10-3103108920core:AfterOneYear2023-10-3103108920core:ShareCapital2024-10-3103108920core:ShareCapital2023-10-3103108920core:RetainedEarningsAccumulatedLosses2024-10-3103108920core:RetainedEarningsAccumulatedLosses2023-10-3103108920bus:Director12023-11-012024-10-3103108920bus:RegisteredOffice2023-11-012024-10-3103108920core:PlantMachinery2023-11-012024-10-3103108920core:MotorVehicles2023-11-012024-10-31031089202022-11-012023-10-3103108920core:PlantMachinery2023-11-0103108920core:PlantMachinery2024-10-3103108920core:PlantMachinery2023-10-310310892012023-11-012024-10-3103108920countries:EnglandWales2023-11-012024-10-3103108920bus:AuditExemptWithAccountantsReport2023-11-012024-10-3103108920bus:PrivateLimitedCompanyLtd2023-11-012024-10-3103108920bus:SmallEntities2023-11-012024-10-3103108920bus:FullAccounts2023-11-012024-10-31
Company registration number:
03108920
Southern Carpentry Limited
Unaudited Filleted Financial Statements for the year ended
31 October 2024
Southern Carpentry Limited
Statement of Financial Position
31 October 2024
20242023
Note££
Fixed assets    
Tangible assets 5
113,641
 
36,681
 
Current assets    
Debtors 6
16,040
 
596
 
Cash at bank and in hand
252,529
 
151,265
 
268,569
 
151,861
 
Creditors: amounts falling due within one year 7
(241,900
)
(128,375
)
Net current assets
26,669
 
23,486
 
Total assets less current liabilities 140,310   60,167  
Creditors: amounts falling due after more than one year 8
(84,829
)
(29,517
)
Provisions for liabilities
(7,994
)
(3,101
)
Net assets
47,487
 
27,549
 
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
46,487
 
26,549
 
Shareholders funds
47,487
 
27,549
 
For the year ending
31 October 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 financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
11 July 2025
, and are signed on behalf of the board by:
Mr Gary Parker
Director
Company registration number:
03108920
Southern Carpentry Limited
Notes to the Financial Statements
Year ended
31 October 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Suite 131
,
80 Churchill Square
,
West Malling
,
Kent
,
ME19 4YU
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 November 2023
136,688
 
Additions
87,275
 
Disposals
(21,658
)
At
31 October 2024
202,305
 
Depreciation  
At
1 November 2023
100,007
 
Charge
8,788
 
Disposals
(20,131
)
At
31 October 2024
88,664
 
Carrying amount  
At
31 October 2024
113,641
 
At 31 October 2023
36,681
 

6 Debtors

20242023
££
Other debtors
16,040
 
596
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
11,131
 
10,991
 
Trade creditors
40,536
 
1,100
 
Taxation and social security
37,557
 
46,471
 
Other creditors
152,676
 
69,813
 
241,900
 
128,375
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
18,437
 
29,517
 
Other creditors
66,392
  -  
84,829
 
29,517
 

9 Share capital

During the period, the company had ordinary share capital (£1 per share) of £1,000 Allotted, called up and fully paid (2023: £1,000).