REGISTERED NUMBER: SC236982 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Manson Smith Joiners Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Smith

Mr S M Smith

Mrs J Smith

REGISTERED OFFICE:

Inchgarth

29 Longside Road

Mintlaw

Peterhead

Aberdeenshire

AB42 5EJ

REGISTERED NUMBER:

SC236982 (Scotland)

ACCOUNTANTS:

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

FIXED ASSETS

Tangible assets

4

88,578

124,902

CURRENT ASSETS

Stocks

200

900

Debtors

5

35,557

109,079

Cash at bank

22,187

-

57,944

109,979

CREDITORS

Amounts falling due within one year

6

48,220

91,223

NET CURRENT ASSETS

9,724

18,756

TOTAL ASSETS LESS CURRENT LIABILITIES

98,302

143,658

CREDITORS

Amounts falling due after more than one year

7

(23,585

)

(44,933

)

PROVISIONS FOR LIABILITIES

8

(18,764

)

(28,964

)

NET ASSETS

55,953

69,761

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

55,943

69,751

SHAREHOLDERS' FUNDS

55,953

69,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2025 and were signed on its behalf by:

Mrs J Smith - Director

1.	STATUTORY INFORMATION

Manson Smith Joiners Ltd. is a private company, limited by shares , registered in Scotland. 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 represents net invoiced work done in respect of the provision of joinery and related building services, excluding value added tax. Work in progress is recognised and included in turnover when the value of work completed can be established with a reasonable degree of certainty and when payment could reasonably be expected to be obtained.

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 cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Stock & work in progress

Stock of materials and work in progress are valued at the lower of cost and net realisable value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

156,867

1,079

77,627

2,181

237,754

Additions

21,515

-

-

-

21,515

Disposals

(55,810

)

(1,079

)

-

-

(56,889

)

At 31 December 2024

122,572

-

77,627

2,181

202,380

DEPRECIATION

At 1 January 2024

76,675

1,079

33,058

2,040

112,852

Charge for year

8,098

-

11,143

70

19,311

Eliminated on disposal

(17,282

)

(1,079

)

-

-

(18,361

)

At 31 December 2024

67,491

-

44,201

2,110

113,802

NET BOOK VALUE

At 31 December 2024

55,081

-

33,426

71

88,578

At 31 December 2023

80,192

-

44,569

141

124,902

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 January 2024

47,000

53,877

100,877

Disposals

(47,000

)

-

(47,000

)

At 31 December 2024

-

53,877

53,877

DEPRECIATION

At 1 January 2024

14,452

13,469

27,921

Charge for year

-

10,102

10,102

Eliminated on disposal

(14,452

)

-

(14,452

)

At 31 December 2024

-

23,571

23,571

NET BOOK VALUE

At 31 December 2024

-

30,306

30,306

At 31 December 2023

32,548

40,408

72,956

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

35,230

108,724

Other debtors

327

355

35,557

109,079

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

-

2,344

Hire purchase contracts

15,723

22,473

Trade creditors

1,397

11,331

Taxation and social security

22,908

35,873

Other creditors

8,192

19,202

48,220

91,223

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

23,585

44,933

8.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

18,764

28,964

Deferred

tax

£

Balance at 1 January 2024

28,964

Provided during year

(10,200

)

Balance at 31 December 2024

18,764

9.	RELATED PARTY DISCLOSURES

Included in Sub contractors are costs of £nil (2023 - £29,419) from SMS Plant Hire, a sole trader operated by the director Mr S M Smith. Sales income includes charges of £6,865 to SMS Plant Hire for the provision of digger hire and materials.

The Directors, Mr M.Smith and Mrs J.Smith operate current accounts with the company and as at the financial year end the combined balance owing to them was £4,609.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr M Smith.