| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| ERW Joinery Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| ERW Joinery Limited |
| ERW Joinery Limited (Registered number: 07018411) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ERW Joinery Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Kepier House |
| Belmont Business Park |
| Durham |
| DH1 1TW |
| ERW Joinery Limited (Registered number: 07018411) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Retained earnings |
| 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. |
| ERW Joinery Limited (Registered number: 07018411) |
| Balance Sheet - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ERW Joinery Limited (Registered number: 07018411) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| ERW Joinery Limited 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 the provisions of Section 1A "Small Entities" of 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. |
| There were no material departures from that standard. |
| The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Income recognition |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on completion of the contract. |
| 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. |
| Patents and licences have been fully amortised over their estimated useful life at 15% of the cost per annum. |
| Goodwill |
| Goodwill is amortised over its estimated useful life at 15% of the cost per annum. |
| Tangible fixed assets |
| Leasehold property improvements | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets are included at cost less accumulated depreciation and impairment. |
| Government grants |
| Revenue based grants are credited to the profit and loss account when entitled. |
| Capital based grants are accounted for using the accruals model and are credited to the profit and loss account over the useful life of the asset. |
| ERW Joinery Limited (Registered number: 07018411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks and work in progress |
| Stocks and work in progress are valued at the lower of cost and selling price less estimated costs to sell, after making due allowance for obsolete and slow moving items. |
| Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ERW Joinery Limited (Registered number: 07018411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents |
| and |
| Goodwill | licences | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| AMORTISATION |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Leasehold | Fixtures |
| property | Plant and | and |
| improvements | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| Disposals |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| ERW Joinery Limited (Registered number: 07018411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 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 |
| Disposals | ( |
) | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| Work-in-progress |
| ERW Joinery Limited (Registered number: 07018411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Directors' current accounts | 11,019 | - |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 10) |
| Payments on account |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Accruals and deferred income |
| Deferred government grants |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Hire purchase contracts (see note 10) |
| Deferred government grants |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| ERW Joinery Limited (Registered number: 07018411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 10. | LEASING AGREEMENTS - continued |
| Non-cancellable |
| operating leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 141,687 | 201,921 |
| Bank loans are secured by a fixed and floating charge covering all property and undertaking of the company. |
| Hire purchase contracts are secured on the assets to which they relate. |
| 12. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 42,026 | 53,912 |
| Warranty provisions | 124,437 | 119,887 |
| Deferred | Warranty |
| tax | provision |
| £ | £ |
| Balance at 1 January 2024 |
| Accelerated capital allowances | (11,886 | ) | - |
| Balance at 31 December 2024 |
| ERW Joinery Limited (Registered number: 07018411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid up: |
| Number | Class | Nominal value | 2024 | 2023 |
| £ | £ |
| 5,100 | Ordinary | £1 | 5,100 | 5,100 |
| 500 | A Ordinary | £1 | 500 | 500 |
| 500 | B Ordinary | £1 | 500 | 500 |
| 500 | C Ordinary | £1 | 500 | 500 |
| 3,400 | D Ordinary | £1 | 3,400 | 3,400 |
| 10,000 | 10,000 |
| 14. | ULTIMATE PARENT COMPANY |
| The ultimate parent company is ERW Group Limited, a company registered in England and Wales, their registered office is Renovation House, Skippers Lane, Skippers Lane Industrial Estate, Middlesbrough, Cleveland, TS6 6HA. |