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Registration number: 07324037

Christie's Carpentry & Construction Ltd
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 November 2024

 

Christie's Carpentry & Construction Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Christie's Carpentry & Construction Ltd

(Registration number: 07324037)
Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

79,547

86,259

Investment property

5

438,000

470,000

 

517,547

556,259

Current assets

 

Stocks

6

689,799

1,049,923

Debtors

7

250,570

184,473

Cash at bank and in hand

 

433,615

297,659

 

1,373,984

1,532,055

Creditors: Amounts falling due within one year

8

(1,328,540)

(1,509,171)

Net current assets

 

45,444

22,884

Total assets less current liabilities

 

562,991

579,143

Creditors: Amounts falling due after more than one year

8

(146,102)

(138,102)

Provisions for liabilities

(53,375)

(63,053)

Net assets

 

363,514

377,988

Capital and reserves

 

Called up share capital

100

100

Fair value reserve

106,233

106,233

Profit and loss account

257,181

271,655

Shareholders' funds

 

363,514

377,988

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

 

Christie's Carpentry & Construction Ltd

(Registration number: 07324037)
Statement of Financial Position as at 30 November 2024

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:
 

.........................................
I J Christie
Director

 

Christie's Carpentry & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Christie's Carpentry & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Christie's Carpentry & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 13).

 

Christie's Carpentry & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

2,480

113,492

3,175

102,083

221,230

Additions

-

9,250

-

10,559

19,809

At 30 November 2024

2,480

122,742

3,175

112,642

241,039

Depreciation

At 1 December 2023

2,369

59,803

2,904

69,895

134,971

Charge for the year

28

15,735

69

10,689

26,521

At 30 November 2024

2,397

75,538

2,973

80,584

161,492

Carrying amount

At 30 November 2024

83

47,204

202

32,058

79,547

At 30 November 2023

111

53,689

271

32,188

86,259

5

Investment properties

2024
£

At 1 December 2023

470,000

Fair value adjustments

(32,000)

At 30 November 2024

438,000

There has been no valuation of investment property by an independent valuer.

The valuation has been determined by the directors based on a review of prices obtained for similar properties in the area.

6

Stocks

2024
£

2023
£

Other inventories

689,799

1,049,923

7

Debtors

 

Christie's Carpentry & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2024
£

2023
£

Trade debtors

74,453

21,061

Prepayments

1,363

1,250

Accrued income

174,754

162,162

250,570

184,473

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

9

357,022

492,350

Trade creditors

 

103,107

123,820

Taxation and social security

 

104,017

121,473

Accruals and deferred income

 

14,090

12,547

Other creditors

 

750,304

758,981

 

1,328,540

1,509,171

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

9

146,102

138,102

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

141,824

130,158

Hire purchase contracts

4,278

7,944

146,102

138,102

Current loans and borrowings

2024
£

2023
£

Bank borrowings

71,355

106,683

Hire purchase contracts

3,667

3,667

Other borrowings

282,000

382,000

357,022

492,350