REGISTERED NUMBER: 02998505 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Advance Joinery Group Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A A Evans

J A Evans

SECRETARY:

A Jameson

REGISTERED OFFICE:

Old Brickyard

Pontrilas

Hereford

Herefordshire

HR2 ODJ

REGISTERED NUMBER:

02998505 (England and Wales)

ACCOUNTANTS:

Thorne Widgery Accountancy Ltd

Chartered Accountants

2 Wyevale Business Park

Kings Acre

Hereford

Herefordshire

HR4 7BS

FIXED ASSETS

Intangible assets

4

143,906

-

Tangible assets

5

651,432

562,731

795,338

562,731

CURRENT ASSETS

Stocks

346,705

317,345

Debtors

412,081

731,922

Investments

-

50,002

Cash at bank and in hand

3,461

182,887

762,247

1,282,156

CREDITORS

Amounts falling due within one year

(1,541,950

)

(1,463,372

)

NET CURRENT LIABILITIES

(779,703

)

(181,216

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,635

381,515

CREDITORS

Amounts falling due after more than one year

(168,263

)

(119,723

)

PROVISIONS FOR LIABILITIES

(139,520

)

(139,520

)

NET (LIABILITIES)/ASSETS

(292,148

)

122,272

CAPITAL AND RESERVES

Called up share capital

95

95

Capital redemption reserve

5

5

Retained earnings

(292,248

)

122,172

(292,148

)

122,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 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 by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

J A A Evans - Director

1.	STATUTORY INFORMATION

Advance Joinery Group 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 0, is being amortised evenly over its estimated useful life of nil 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.

Improvements to property

-

2% on cost

Plant and machinery

-

20% reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 67 (2023 - 51 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

Additions

157,107

At 30 September 2024

157,107

AMORTISATION

Amortisation for year

13,201

At 30 September 2024

13,201

NET BOOK VALUE

At 30 September 2024

143,906

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2023

959,233

Additions

330,262

Disposals

(187,332

)

At 30 September 2024

1,102,163

DEPRECIATION

At 1 October 2023

396,502

Charge for year

126,090

Eliminated on disposal

(71,861

)

At 30 September 2024

450,731

NET BOOK VALUE

At 30 September 2024

651,432

At 30 September 2023

562,731

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

Totals

£

COST

At 1 October 2023

215,289

Additions

156,540

Disposals

(21,500

)

Transfer to ownership

(68,790

)

At 30 September 2024

281,539

DEPRECIATION

At 1 October 2023

86,455

Charge for year

35,306

Eliminated on disposal

(5,375

)

Transfer to ownership

(49,144

)

At 30 September 2024

67,242

NET BOOK VALUE

At 30 September 2024

214,297

At 30 September 2023

128,834

6.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.9.24

30.9.23

£

£

Net obligations repayable:

Within one year

92,526

91,675

Between one and five years

168,263

119,723

260,789

211,398

7.	ULTIMATE CONTROLLING PARTY

On 14 October 2022 the company was sold to Spokeshave Holdings limited and J Evans became the ultimate controlling party