REGISTERED NUMBER: 14647416 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

FOR

AG JOINERY (LINCS) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A J Gray

REGISTERED OFFICE:

113 Gainsborough Road

Lea

GAINSBOROUGH

Lincolnshire

DN21 5JJ

REGISTERED NUMBER:

14647416 (England and Wales)

ACCOUNTANTS:

Shucksmith Accountants (Gainsborough) Limited

94-96 Oswald Road

SCUNTHORPE

North Lincolnshire

DN15 7PA

FIXED ASSETS

Intangible assets

4

12,331

13,872

Tangible assets

5

31,066

21,014

43,397

34,886

CURRENT ASSETS

Stocks

123,374

6,480

Debtors

6

57,734

100,101

Cash at bank

109,332

59,956

290,440

166,537

CREDITORS

Amounts falling due within one year

7

65,274

68,170

NET CURRENT ASSETS

225,166

98,367

TOTAL ASSETS LESS CURRENT LIABILITIES

268,563

133,253

CREDITORS

Amounts falling due after more than one year

8

(11,860

)

(17,790

)

PROVISIONS FOR LIABILITIES

9

(2,303

)

(393

)

NET ASSETS

254,400

115,070

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

254,300

114,970

SHAREHOLDERS' FUNDS

254,400

115,070

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 5 September 2025 and were signed by:

Mr A J Gray - Director

1.	STATUTORY INFORMATION

AG Joinery (Lincs) 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

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 2 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 6 April 2024

and 5 April 2025

15,413

AMORTISATION

At 6 April 2024

1,541

Amortisation for year

1,541

At 5 April 2025

3,082

NET BOOK VALUE

At 5 April 2025

12,331

At 5 April 2024

13,872

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 6 April 2024

2,490

275

23,962

943

27,670

Additions

13,775

-

4,500

-

18,275

At 5 April 2025

16,265

275

28,462

943

45,945

DEPRECIATION

At 6 April 2024

374

55

5,991

236

6,656

Charge for year

2,384

44

5,618

177

8,223

At 5 April 2025

2,758

99

11,609

413

14,879

NET BOOK VALUE

At 5 April 2025

13,507

176

16,853

530

31,066

At 5 April 2024

2,116

220

17,971

707

21,014

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 6 April 2024

and 5 April 2025

23,962

DEPRECIATION

At 6 April 2024

and 5 April 2025

5,991

NET BOOK VALUE

At 5 April 2025

17,971

At 5 April 2024

17,971

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.25

5.4.24

£

£

Trade debtors

18,072

42,862

Tax

35,322

52,207

VAT

3,181

2,920

Prepayments and accrued income

1,159

2,112

57,734

100,101

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.25

5.4.24

£

£

Hire purchase contracts

5,930

5,930

Trade creditors

10,288

6,381

Corporation tax

42,933

47,913

Other creditors

232

-

Directors' current accounts

3,439

6,697

Accruals and deferred income

2,452

1,249

65,274

68,170

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5.4.25

5.4.24

£

£

Hire purchase contracts

11,860

17,790

9.	PROVISIONS FOR LIABILITIES

5.4.25

5.4.24

£

£

Deferred tax

2,303

393

Deferred

tax

£

Balance at 6 April 2024

393

Accelerated capital allowances

1,910

Balance at 5 April 2025

2,303

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

5.4.25

5.4.24

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 6 April 2024

114,970

Profit for the year

139,830

Dividends

(500

)

At 5 April 2025

254,300

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the period Mr A J Gray - the sole director and 100% shareholder - charged the company £520 (2024 - £312) for the use of home as office.

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £500 (2024 - £25,000) were paid to the director .

At 5 April 2025 there was a balance owing to the director, Mr A J Gray, of £3,439 (2024 - £6,697).

This balance has been shown in Creditors.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A J Gray.