Registered number
13687579
SPL Carpentry Limited
Filleted Accounts
31 October 2024
SPL Carpentry Limited
Registered number: 13687579
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 4,000 6,000
Tangible assets 4 36,840 23,960
40,840 29,960
Current assets
Stocks 20,000 -
Debtors 5 24,575 23,296
Cash at bank and in hand 44 38,900
44,619 62,196
Creditors: amounts falling due within one year 6 (32,171) (41,409)
Net current assets 12,448 20,787
Total assets less current liabilities 53,288 50,747
Creditors: amounts falling due after more than one year 7 (37,754) (47,729)
Net assets 15,534 3,018
Capital and reserves
Called up share capital 100 100
Profit and loss account 15,434 2,918
Shareholder's funds 15,534 3,018
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S P Lear
Director
Approved by the board on 31 July 2025
SPL Carpentry Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Tools and equipment over 5 years
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 10,000
At 31 October 2024 10,000
Amortisation
At 1 November 2023 4,000
Provided during the year 2,000
At 31 October 2024 6,000
Net book value
At 31 October 2024 4,000
At 31 October 2023 6,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Tools and equipment Plant & machinery Total
£ £ £
Cost
At 1 November 2023 2,035 27,917 29,952
Additions 959 22,625 23,584
At 31 October 2024 2,994 50,542 53,536
Depreciation
At 1 November 2023 405 5,587 5,992
Charge for the year 599 10,105 10,704
At 31 October 2024 1,004 15,692 16,696
Net book value
At 31 October 2024 1,990 34,850 36,840
At 31 October 2023 1,630 22,330 23,960
5 Debtors 2024 2023
£ £
Trade debtors 2,935 1,500
Directors loan 18,000 20,020
Other debtors 3,640 1,776
24,575 23,296
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,524 -
Trade creditors 18,133 35,407
Taxation and social security costs 8,134 2,574
Other creditors 3,380 3,428
32,171 41,409
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 37,754 23,729
Other creditors - 24,000
37,754 47,729
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 10,920 10,920
9 Controlling party
The company is controlled by the director.
10 Other information
SPL Carpentry Limited is a private company limited by shares and incorporated in England. Its registered office is:
28 Chestnut Road
Brockworth
Gloucester
Glos
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