Registered number
10930066
Door-kit Solutions Limited
Report and Accounts
31 October 2024
Door-kit Solutions Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6-9
Door-kit Solutions Limited
Company Information
Directors
M T Finney - Resigned 11/07/2025
P J McGuire
P Zarelli
M A Finney - Appointed 11/07/2025
D T Finney - Appointed 11/07/2025
Registered office
Units 6-11 Spartan Ind Centre
Brickhouse Lane
Great Bridge
West Midlands
Registered number
10930066
Door-kit Solutions Limited
Registered number: 10930066
Directors' Report
The directors present their report and accounts for the year ended 31 October 2024.
Principal activities
During the year the principal activity of the company comtinued to be a supplier of joinery products to the construction industry.
Directors
The following persons served as directors during the year:
M T Finney - Resigned 11/07/2025
P J McGuire
P Zarelli
M A Finney - Appointed 11/07/2025
D T Finney - Appointed 11/07/2025
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 24 July 2025 and signed on its behalf.
M A Finney
Director
Door-kit Solutions Limited
Profit and Loss Account
for the year ended 31 October 2024
2024 2023
£ £
Turnover 9,760,361 7,381,976
Cost of sales (6,425,613) (4,924,404)
Gross profit 3,334,748 2,457,572
Distribution costs (393,279) (222,242)
Administrative expenses (2,311,274) (1,410,949)
Operating profit 630,195 824,381
Interest payable (9,889) -
Profit before taxation 620,306 824,381
Tax on profit (164,322) (192,375)
Profit for the financial year 455,984 632,006
Door-kit Solutions Limited
Registered number: 10930066
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 749,686 665,896
Current assets
Stocks 991,919 810,657
Debtors 4 2,053,680 1,721,580
Cash at bank and in hand 1,099,393 1,013,451
4,144,992 3,545,688
Creditors: amounts falling due within one year 5 (3,420,984) (3,002,968)
Net current assets 724,008 542,720
Total assets less current liabilities 1,473,694 1,208,616
Provisions for liabilities (80,312) (71,218)
Net assets 1,393,382 1,137,398
Capital and reserves
Called up share capital 400,000 400,000
Profit and loss account 993,382 737,398
Shareholders' funds 1,393,382 1,137,398
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
D T Finney
Director
Approved by the board on 24 July 2025
Door-kit Solutions Limited
Statement of Changes in Equity
for the year ended 31 October 2024
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 November 2022 400,000 - - 405,392 805,392
Profit for the financial year 632,006 632,006
Dividends (300,000) (300,000)
At 31 October 2023 400,000 - - 737,398 1,137,398
At 1 November 2023 400,000 - - 737,398 1,137,398
Profit for the financial year 455,984 455,984
Dividends (200,000) (200,000)
At 31 October 2024 400,000 - - 993,382 1,393,382
Door-kit Solutions 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.
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:
Leasehold land and buildings over 5 years
Plant and machinery over 4 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 19 16
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 510,288 245,570 32,870 788,728
Additions 19,046 125,573 87,088 231,707
At 31 October 2024 529,334 371,143 119,958 1,020,435
Depreciation
At 1 November 2023 13,489 83,771 25,572 122,832
Charge for the year 51,746 71,860 24,311 147,917
At 31 October 2024 65,235 155,631 49,883 270,749
Net book value
At 31 October 2024 464,099 215,512 70,075 749,686
At 31 October 2023 496,799 161,799 7,298 665,896
4 Debtors 2024 2023
£ £
Trade debtors 2,014,208 1,639,282
Other debtors 39,472 82,298
2,053,680 1,721,580
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,637,396 1,452,813
Taxation and social security costs 324,344 322,569
Other creditors 1,459,244 1,227,586
3,420,984 3,002,968
6 Pension commitments
The company operates defined contribution pension schemes on behalf of employees. The assets of the schemes are held separately from those of the company in independently administered funds. At the balance sheet date unpaid contributions of £ 3,549 (2023 £ £2,359) were due to the funds. They are included in other creditors.
7 Related party transactions
The following companies are related parties by virtue of the fact that the directors M T Finney and P J McGuire control these companies by virtue of their own or close family members' shareholdings.
Sales Purchases Debtor Creditor
Year 31 October 2024 £ £ £ £
Midland Building Products Ltd 3,652 14,863 2,240 67,900
Manchester Doors & Cubicles Ltd 127,899 - 24,989 -
Southern Doors & Cubicles Ltd 443,184 90 109,035 -
Specialist Joinery Products Ltd 135,963 18,874 25,936 -
Leeds Doors & Cubicles Ltd 7,115 2,613 4,977 -
Joinery Specialists Ltd 57,435 - 39,724 -
ZMR Ltd - 10,080 - 905
UK Doorsets Ltd - 1,009,082 - 142,548
Fire & Acoustic Seals Ltd - 46,710 - 1,577
IBS Ltd 331,911 20,222 133,050 -
FSC Doors Ltd - 187,256 - 48,244
MBP Ironmongery Ltd - 17,820 - 2,748
Year 31 October 2023 £ £ £ £
Midland Building Products Ltd - 453,867 - 98,691
Manchester Doors & Cubicles Ltd 2,895 - - -
Southern Doors & Cubicles Ltd - - - -
Specialist Joinery Products Ltd 69,981 21,992 50,737 -
Leeds Doors & Cubicles Ltd - - - -
Joinery Specialists Ltd 32,458 - 12,900 -
ZMR Ltd - 11,336 - 4,099
UK Doorsets Ltd - 574,259 - 95,784
Fire & Acoustic Seals Ltd - 22,488 - 3,699
IBS Ltd - 1,170 - -
Midland Building Products Ltd holds a 20% shareholding in the company.
During the year the company paid rent on premises amounting to £177,827 to the directors MT Finney, JP McGuire and JJ Vann and their family members (2023 £118,334). In addition the company paid £36,500 for premises rent to the MBP pension Fund (2023 £4,563).
8 Controlling party
The company is controlled by the board of directors who own 60% of the issued share capital.
9 Other information
Door-kit Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Units 6-11 Spartan Ind Centre
Brickhouse Lane
Great Bridge
West Midlands
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