Silverfin false false 31/03/2025 01/04/2024 31/03/2025 A P Robson 02/09/2002 10 July 2025 The principal activity of the company continues to be that of quality joinery. 04523972 2025-03-31 04523972 bus:Director1 2025-03-31 04523972 2024-03-31 04523972 core:CurrentFinancialInstruments 2025-03-31 04523972 core:CurrentFinancialInstruments 2024-03-31 04523972 core:ShareCapital 2025-03-31 04523972 core:ShareCapital 2024-03-31 04523972 core:RetainedEarningsAccumulatedLosses 2025-03-31 04523972 core:RetainedEarningsAccumulatedLosses 2024-03-31 04523972 core:OtherPropertyPlantEquipment 2024-03-31 04523972 core:OtherPropertyPlantEquipment 2025-03-31 04523972 bus:OrdinaryShareClass1 2025-03-31 04523972 2024-04-01 2025-03-31 04523972 bus:AbridgedAccounts 2024-04-01 2025-03-31 04523972 bus:SmallEntities 2024-04-01 2025-03-31 04523972 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 04523972 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04523972 bus:Director1 2024-04-01 2025-03-31 04523972 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 04523972 2023-04-01 2024-03-31 04523972 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 04523972 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04523972 (England and Wales)

JOINERY CRAFT LIMITED

Abridged Unaudited Financial Statements
For the financial year ended 31 March 2025

JOINERY CRAFT LIMITED

Abridged Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

JOINERY CRAFT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
JOINERY CRAFT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 44,721 27,293
44,721 27,293
Current assets
Stocks 8,000 8,000
Debtors 118,788 93,830
Cash at bank and in hand 415,598 497,113
542,386 598,943
Creditors: amounts falling due within one year ( 52,066) ( 77,142)
Net current assets 490,320 521,801
Total assets less current liabilities 535,041 549,094
Provision for liabilities ( 8,474) ( 6,793)
Net assets 526,567 542,301
Capital and reserves
Called-up share capital 4 1 1
Profit and loss account 526,566 542,300
Total shareholders' funds 526,567 542,301

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Joinery Craft Limited (registered number: 04523972) were approved and authorised for issue by the Director on 10 July 2025. They were signed on its behalf by:

A P Robson
Director
JOINERY CRAFT LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
JOINERY CRAFT LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Joinery Craft Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Se56 Gloucestershire Airport, Staverton, Cheltenham, GL51 6SR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance
Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including the director 6 7

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2024 246,219 246,219
Additions 32,117 32,117
Disposals ( 19,285) ( 19,285)
At 31 March 2025 259,051 259,051
Accumulated depreciation
At 01 April 2024 218,926 218,926
Charge for the financial year 13,625 13,625
Disposals ( 18,221) ( 18,221)
At 31 March 2025 214,330 214,330
Net book value
At 31 March 2025 44,721 44,721
At 31 March 2024 27,293 27,293

4. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each 1 1

5. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
within one year 29,250 25,750

6. Related party transactions

Transactions with the entity's director

2025 2024
£ £
Dividends paid to director 34,000 35,000

An amount of £635 (2024: £635) was owed to the director at the year end