YK Carpentry&Joinery Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 09450949

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		36,808		22,342

			36,808		22,342
CURRENT ASSETS
Stocks	5	288,500		43,500
Debtors	6	316,822		739,160
Cash at bank and in hand		26,890		198

		632,212		782,858
Creditors: Amounts Falling Due Within One Year	7	(371,462 )		(800,775 )

NET CURRENT ASSETS (LIABILITIES)			260,750		(17,917 )

TOTAL ASSETS LESS CURRENT LIABILITIES			297,558		4,425

Creditors: Amounts Falling Due After More Than One Year	8		(288,982 )		(21,183 )

NET ASSETS/(LIABILITIES)			8,576		(16,758 )

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			8,574		(16,760 )

SHAREHOLDERS' FUNDS			8,576		(16,758)

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YK Carpentry&Joinery Ltd

Balance Sheet (continued)

As At 28 February 2025

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Yuriy Kushnir

Director

14th September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

YK Carpentry&Joinery Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09450949 . The registered office is Unit 18 Boughton Road, West Thamesmead Business Park, London, SE28 0AG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	Over their useful life of 5 years
Motor Vehicles	Over their useful life of 5 years

2.4. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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YK Carpentry&Joinery Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: )

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 29 February 2024	322,098	50,954	373,052
Additions	-	46,010	46,010

As at 28 February 2025	322,098	96,964	419,062

Depreciation
As at 29 February 2024	304,568	46,142	350,710
Provided during the period	17,530	14,014	31,544

As at 28 February 2025	322,098	60,156	382,254

Net Book Value
As at 28 February 2025	-	36,808	36,808

As at 29 February 2024	17,530	4,812	22,342

5. Stocks

	2025	2024
	£	£
Finished goods	43,500	43,500
Work in progress	245,000	-

	288,500	43,500

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	199,303	577,539
Retainage	10,202	-
Other debtors	107,317	161,621

	316,822	739,160

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	186,913	131,605
Bank loans and overdrafts	32,801	63,181
Other loans	3,046	-
Other creditors	14,942	48,470
Taxation and social security	133,760	557,519

	371,462	800,775

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YK Carpentry&Joinery Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	288,982	21,183

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

10. Post Balance Sheet Events

Reduction of Loan Balance:

Subsequent to the reporting date, the Company made significant repayments towards the loan from Funding Circle. The outstanding balance as at the year-end was £267,799.35. By the date the financial statements were authorised for issue, this had been reduced to £114,486.

This is a non-adjusting event under FRS 102, Section 32, as it relates to conditions that arose after the reporting period. However, the directors consider the substantial reduction in the loan balance to be an important development, reflecting the Company’s improved cash flow and stronger financial position.

The director is actively committed to reducing the outstanding balance further and has been making substantial payments on a regular basis since the year-end. This demonstrates a proactive approach to managing debt and strengthening the Company’s financial stability

This substantial repayment reflects the Company’s strengthened trading performance and continued focus on reducing debt and improving its financial stability.

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