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2023-10-01
Sage Accounts Production Advanced 2024 - FRS102_2024
40,000
20,000
4,000
24,000
16,000
20,000
xbrli:pure
xbrli:shares
iso4217:GBP
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2024-09-30
COMPANY REGISTRATION NUMBER:
10717310
|
TWENTY FIVE (YORK) LIMITED |
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
|
TWENTY FIVE (YORK) LIMITED |
|
YEAR ENDED 30 SEPTEMBER 2024
The director presents his report and the unaudited financial statements of the company for the year ended
30 September 2024
.
PRINCIPAL ACTIVITIES
The principal activity of the company during the year was construction, bespoke cabinetry and joinery manufacture. The company is an innovative, multi-disciplined principal contractor and management company, providing services throughout the UK to support construction and fit out clients.
DIRECTOR
The director who served the company during the year was as follows:
STRATEGIC REPORT
This is our seventh financial year for Twenty Five (York) Ltd and our second five year plan to grow organically in a debt free manner is sustainable and is based on our founding values: Honesty, Passionate, Trustworthy, Dedicated, Accountable, Enjoyment.
The thirty three friends and colleagues in the business, successfully and safely committing to delivering our valued clients works, continue to amaze me in being diverse and vibrant in their approach, as we continue to provide a dedicated service we can all be proud of and whilst maintaining the enjoyment in all we do.
My sincere thanks and ongoing appreciation are offered in our continued development to all our staff, subcontractors, suppliers and professionals.
Investment in training, plant, machinery and transport has been made during the period together with further development of our premises.
The last twelve months have broadened and increased our work in
Sushi and joinery manufacture UK wide and overseas
Exhibitions
Food manufacturing
Pet food manufacturing
Bettys and Taylors
NHS & Property Services
Animal welfare
Vehicle manufacture & refurbishment
F1 racing team bespoke joinery and fit out
High end retail
M&S approved contractor
Agricultural Estates
Charity Hub in Leeds
Bespoke joinery
Private residences
Education projects
Health and safety remains paramount in all we do together with the wellbeing of our staff and subtrades.
Our accreditations have been renewed and a claim free renewal with our insurers.
The workload for the next 12 months has some exciting projects and will continue to demonstrate our ability to deliver successful projects around the country.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
15 July 2025
and signed on behalf of the board by:
|
Registered office: |
|
Station Yard |
|
Hessay |
|
York |
|
United Kingdom |
|
YO26 8JS |
|
|
TWENTY FIVE (YORK) LIMITED |
|
|
STATEMENT OF FINANCIAL POSITION |
|
30 September 2024
FIXED ASSETS
|
Intangible assets |
5 |
|
16,000 |
20,000 |
|
Tangible assets |
6 |
|
230,484 |
226,820 |
|
|
---------- |
---------- |
|
|
246,484 |
246,820 |
|
|
|
|
|
CURRENT ASSETS
|
Stocks |
469,665 |
|
371,927 |
|
Debtors |
7 |
1,258,174 |
|
359,859 |
|
Cash at bank and in hand |
532,805 |
|
375,736 |
|
------------- |
|
------------- |
|
2,260,644 |
|
1,107,522 |
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
8 |
1,729,585 |
|
735,950 |
|
------------- |
|
------------- |
|
NET CURRENT ASSETS |
|
531,059 |
371,572 |
|
|
---------- |
---------- |
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
777,543 |
618,392 |
|
|
|
|
|
|
CREDITORS: amounts falling due after more than one year |
9 |
|
18,991 |
18,892 |
|
|
|
|
|
|
PROVISIONS |
|
57,621 |
45,364 |
|
|
---------- |
---------- |
|
NET ASSETS |
|
700,931 |
554,136 |
|
|
---------- |
---------- |
|
|
|
|
CAPITAL AND RESERVES
|
Called up share capital |
|
1 |
1 |
|
Profit and loss account |
|
700,930 |
554,135 |
|
|
---------- |
---------- |
|
SHAREHOLDERS FUNDS |
|
700,931 |
554,136 |
|
|
---------- |
---------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 member has 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
TWENTY FIVE (YORK) LIMITED |
|
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
30 September 2024
These financial statements were approved by the
board of directors
and authorised for issue on
15 July 2025
, and are signed on behalf of the board by:
Company registration number:
10717310
|
TWENTY FIVE (YORK) LIMITED |
|
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 30 SEPTEMBER 2024
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Station Yard, Hessay, York, YO26 8JS, United Kingdom.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
ACCOUNTING POLICIES
(a)
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b)
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c)
Judgements and key sources of estimation uncertainty
Work in progress The company's accounting policy for work in progress is set out in note 3(j). Any provisions made for foreseeable future losses are based on management's judgements and historical experience with similar developments.
(d)
Revenue recognition
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
(e)
Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(f)
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
(g)
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(h)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(i)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
20% reducing balance |
|
Fixtures and fittings |
- |
20% reducing balance |
|
Motor vehicles |
- |
20% reducing balance |
|
Equipment |
- |
20% reducing balance |
|
|
|
|
(j)
Impairment of fixed assets
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.
(k)
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(l)
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts 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.
(m)
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuations of work in progress.
(n)
Provisions
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 as a finance cost in profit or loss in the period it arises.
(o)
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.
(p)
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
24
(2023:
24
).
5.
INTANGIBLE ASSETS
|
Goodwill |
|
£ |
|
Cost |
|
|
At 1 October 2023 and 30 September 2024 |
40,000 |
|
-------- |
|
Amortisation |
|
|
At 1 October 2023 |
20,000 |
|
Charge for the year |
4,000 |
|
-------- |
|
At 30 September 2024 |
24,000 |
|
-------- |
|
Carrying amount |
|
|
At 30 September 2024 |
16,000 |
|
-------- |
|
At 30 September 2023 |
20,000 |
|
-------- |
|
|
6.
TANGIBLE ASSETS
|
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
Cost |
|
|
|
|
|
|
At 1 October 2023 |
47,424 |
18,784 |
358,430 |
31,568 |
456,206 |
|
Additions |
– |
– |
59,093 |
2,381 |
61,474 |
|
Disposals |
(
187) |
– |
– |
– |
(
187) |
|
-------- |
-------- |
---------- |
-------- |
---------- |
|
At 30 September 2024 |
47,237 |
18,784 |
417,523 |
33,949 |
517,493 |
|
-------- |
-------- |
---------- |
-------- |
---------- |
|
Depreciation |
|
|
|
|
|
|
At 1 October 2023 |
19,878 |
12,803 |
175,536 |
21,170 |
229,387 |
|
Charge for the year |
5,472 |
1,196 |
48,398 |
2,556 |
57,622 |
|
-------- |
-------- |
---------- |
-------- |
---------- |
|
At 30 September 2024 |
25,350 |
13,999 |
223,934 |
23,726 |
287,009 |
|
-------- |
-------- |
---------- |
-------- |
---------- |
|
Carrying amount |
|
|
|
|
|
|
At 30 September 2024 |
21,887 |
4,785 |
193,589 |
10,223 |
230,484 |
|
-------- |
-------- |
---------- |
-------- |
---------- |
|
At 30 September 2023 |
27,546 |
5,981 |
182,894 |
10,398 |
226,819
|
|
-------- |
-------- |
---------- |
-------- |
---------- |
|
|
|
|
|
|
7.
DEBTORS
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
1,205,811 |
359,859 |
|
Other debtors |
52,363 |
– |
|
------------- |
---------- |
|
1,258,174 |
359,859 |
|
------------- |
---------- |
|
|
|
8.
CREDITORS:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
15,058 |
– |
|
Trade creditors |
1,053,495 |
337,626 |
|
Amounts owed to group undertakings |
155,338 |
229,933 |
|
Accruals and deferred income |
258,647 |
8,178 |
|
Corporation tax |
59,586 |
23,936 |
|
Social security and other taxes |
171,439 |
121,959 |
|
Obligations under finance leases and hire purchase contracts |
16,022 |
14,318 |
|
------------- |
---------- |
|
1,729,585 |
735,950 |
|
------------- |
---------- |
|
|
|
9.
CREDITORS:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
16,121 |
– |
|
Obligations under finance leases and hire purchase contracts |
2,870 |
18,892 |
|
-------- |
-------- |
|
18,991 |
18,892 |
|
-------- |
-------- |
|
|
|
10.
RELATED PARTY TRANSACTIONS
During the year a director made available a loan to the company. At the year end the balance of this loan was £
155,338
(2023: £229,933). This loan is repayable upon demand and has been subject to interest payable at the UK market rate on a monthly basis.