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REGISTERED NUMBER: 07815856 (England and Wales)












James Yeo Cabinet Makers Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2024






James Yeo Cabinet Makers Ltd (Registered number: 07815856)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


James Yeo Cabinet Makers Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: A J Hodgson
J W Yeo





REGISTERED OFFICE: Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED





REGISTERED NUMBER: 07815856 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

James Yeo Cabinet Makers Ltd (Registered number: 07815856)

Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,881 77,064

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 229,701 144,592
Cash at bank 16,440 11,566
251,141 161,158
CREDITORS
Amounts falling due within one year 6 233,851 271,171
NET CURRENT ASSETS/(LIABILITIES) 17,290 (110,013 )
TOTAL ASSETS LESS CURRENT LIABILITIES 77,171 (32,949 )

CREDITORS
Amounts falling due after more than one year 7 337,124 368,275
NET LIABILITIES (259,953 ) (401,224 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (260,053 ) (401,324 )
(259,953 ) (401,224 )

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 directors acknowledge their 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.

James Yeo Cabinet Makers Ltd (Registered number: 07815856)

Statement of Financial Position - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2025 and were signed on its behalf by:




A J Hodgson - Director



J W Yeo - Director


James Yeo Cabinet Makers Ltd (Registered number: 07815856)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

James Yeo Cabinet Makers Ltd 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services, adjusted for deposits in hand
and work in progress

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight line over 25 years
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

James Yeo Cabinet Makers Ltd (Registered number: 07815856)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2023 56,839 138,562 9,961
Additions - 2,713 -
At 31 October 2024 56,839 141,275 9,961
DEPRECIATION
At 1 November 2023 32,653 93,157 7,628
Charge for year 1,487 13,444 918
At 31 October 2024 34,140 106,601 8,546
NET BOOK VALUE
At 31 October 2024 22,699 34,674 1,415
At 31 October 2023 24,186 45,405 2,333

James Yeo Cabinet Makers Ltd (Registered number: 07815856)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 17,750 34,195 257,307
Additions - 1,391 4,104
At 31 October 2024 17,750 35,586 261,411
DEPRECIATION
At 1 November 2023 14,200 32,605 180,243
Charge for year 3,550 1,888 21,287
At 31 October 2024 17,750 34,493 201,530
NET BOOK VALUE
At 31 October 2024 - 1,093 59,881
At 31 October 2023 3,550 1,590 77,064

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 63,617 17,750 81,367
DEPRECIATION
At 1 November 2023 12,723 14,200 26,923
Charge for year 5,779 - 5,779
At 31 October 2024 18,502 14,200 32,702
NET BOOK VALUE
At 31 October 2024 45,115 3,550 48,665
At 31 October 2023 50,894 3,550 54,444

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 163,056 102,058
Other debtors 66,645 42,534
229,701 144,592

James Yeo Cabinet Makers Ltd (Registered number: 07815856)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 35,333 13,373
Hire purchase contracts 9,451 11,943
Trade creditors 16,135 102,171
Taxation and social security 57,156 94,680
Other creditors 115,776 49,004
233,851 271,171

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 30,498 44,884
Hire purchase contracts 31,475 44,606
Other creditors 275,151 278,785
337,124 368,275

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,028 12,507

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Loans 8,951 15,604

Cornwall and Isles of Scilly Investment have fixed and floating charges over all of the company assets in order to secure bank loans.