Accounts







	UNDERWOOD CARPENTER LTD



	UNAUDITED FINANCIAL STATEMENTS


	FOR THE YEAR ENDED 31 DECEMBER 2024




	COMPANY NUMBER 04112103





































BRADLEY & CO

CHARTERED ACCOUNTANTS

	UNDERWOOD CARPENTER LTD
	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024


	DIRECTORS

	Mr T Salter
	Mr D Kassar


	REGISTERED OFFICE

	Vinters Business Park New Cut Road Maidstone Kent ME14 5NZ


	COMPANY REGISTERED NUMBER

	04112103


	BANKERS

	Natwest


	ACCOUNTANTS

	Bradley & Co
	Chartered Accountants
	4B Christchurch House Beaufort Court Medway City Estate Rochester Kent ME2 4FX

	page 1

	UNDERWOOD CARPENTER LTD
	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024









	CONTENTS

	Pages

	3-4	Abridged Statement of Financial Position

	5-7	Notes to the Financial Statements

	page 2

UNDERWOOD CARPENTER LTD
Company registered number: 04112103
ABRIDGED STATEMENT OF FINANCIAL POSITION AT 31 December 2024

	Note	2024		2023
		£	£	£
FIXED ASSETS
Property, plant and equipment			130,364	190,925
CURRENT ASSETS
Debtors		731,995		761,629
Financial assets		2,261		9,247
Cash at bank and in hand		1,371,510		907,437
		2,105,766		1,678,313
CREDITORS: Amounts falling due within one year		726,659		459,553
NET CURRENT ASSETS			1,379,107	1,218,760
TOTAL ASSETS LESS CURRENT LIABILITIES			1,509,471	1,409,685

PROVISIONS FOR LIABILITIES			(32,594)	(47,730)
NET ASSETS			£1,476,877	£1,361,955

CAPITAL AND RESERVES
Called up share capital			3,000	3,000
Other reserves			2,000	2,000
Retained earnings			1,471,877	1,356,955
SHAREHOLDERS' FUNDS			£1,476,877	£1,361,955

	page 3

	UNDERWOOD CARPENTER LTD
	Company registered number: 04112103
	ABRIDGED STATEMENT OF FINANCIAL POSITION AT 31 December 2024 (CONT.)



	In approving these financial statements as directors of the company we hereby confirm the following:

	For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

	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: 1) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.



	These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies

	All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2024 in accordance with Section 444 (2A) of the Companies Act 2006

	In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered
	The financial statements were approved and authorised for issue by the board of directors on 07 April 2025

	Signed on behalf of the board of directors



	Mr D Kassar, Director

	page 4

	UNDERWOOD CARPENTER LTD
	NOTES TO THE ACCOUNTS
	FOR THE YEAR ENDED 31 DECEMBER 2024



1.	SIGNIFICANT ACCOUNTING POLICIES


1a.	Statement of compliance

	Underwood Carpenter Ltd is a Limited Company incorporated in England and Wales.

	Registered office:
	Vinters Business Park New Cut Road Maidstone Kent ME14 5NZ

1b.	Basis of accounting

	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" and the Companies Act 2006.
	The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.


1c.	Revenue recognition

	Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.


1d.	Borrowing costs

	Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.


1e.	Taxation

	Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

	page 5

	UNDERWOOD CARPENTER LTD
	NOTES TO THE ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 31 DECEMBER 2024



1.	SIGNIFICANT ACCOUNTING POLICIES (CONT.)


1f.	Property, plant and equipment

	Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.

	Vehicles	Reducing balance 30%
	Equipment	over 3-4 years on a straight line basis


1g.	Short term debtors and creditors

	Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.


1h.	Cash and cash equivalents

	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.


1i.	Interest bearing borrowings

	All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.


1j.	Leased assets

	Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.


1k.	Employee benefits

	The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

	page 6

	UNDERWOOD CARPENTER LTD
	NOTES TO THE ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 31 DECEMBER 2024



1.	SIGNIFICANT ACCOUNTING POLICIES (CONT.)


1l.	Provisions

	Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.



2.	DIRECTORS AND EMPLOYEES

	The average weekly number of employees during the year were as follows:
		2024	2023
		No.	No.
	Management and administration	27	24

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