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Registered number: 03289410
Westwood Joinery Services Limited
Unaudited Financial Statements
For The Year Ended 31 May 2025
Goldwyns London LLP
Westwood Joinery Services Limited
Contents
Contents
Page
Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—7
Page 1
Westwood Joinery Services Limited
Balance Sheet
As At 31 May 2025
Balance Sheet
Registered number: 03289410
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 74,661 94,835
74,661 94,835
CURRENT ASSETS
Stocks 5 84,529 58,897
Debtors 6 1,203,215 711,768
Cash at bank and in hand 11,347 71,442
1,299,091 842,107
Creditors: Amounts Falling Due Within One Year 7 (712,523 ) (507,808 )
NET CURRENT ASSETS (LIABILITIES) 586,568 334,299
TOTAL ASSETS LESS CURRENT LIABILITIES 661,229 429,134
Creditors: Amounts Falling Due After More Than One Year 8 (22,303 ) (43,462 )
NET ASSETS 638,926 385,672
CAPITAL AND RESERVES
Called up share capital 11 3 3
Profit and Loss Account 638,923 385,669
SHAREHOLDERS' FUNDS 638,926 385,672
Page 1
Page 2
Westwood Joinery Services Limited
Balance Sheet (continued)
As At 31 May 2025
For the year ending 31 May 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account for the year end 31 May 2025 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr J M Bennett
Director
21/11/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Westwood Joinery Services Limited
Notes to the Abridged Financial Statements
For The Year Ended 31 May 2025
Notes to the Abridged Financial Statements
1. General Information
Westwood Joinery Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03289410 . The registered office is C/O Goldwyns London LLP, No.1 Royal Exchange, London, EC3V 3DG.
2. Accounting Policies
2.1. Basis of Preparation of 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.
The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound
The principle accounting polices adopted are set below.
2.2. Going Concern Disclosure
The director has considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The director has also pledged their financial support to assist with this if required. On this basis, the director will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Tangible Fixed Assets and Depreciation
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 20% Straight line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. 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.
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Westwood Joinery Services Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended 31 May 2025
2.7. 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 statement of financial position date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
Government assistance
The company received assistance in the form of a government backed loan (including Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) and Future Fund Scheme) of £11,373 during the year ended 31 May 2025. This is reported the current and long term liabilities of the balance sheet based on the allocation of payments due within 12 months (£10,496) and greater than 12 months (£877).
2.10. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.11. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.12. Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
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Westwood Joinery Services Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended 31 May 2025
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 6 5
6 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 June 2024 109,198 77,142 2,742 189,082
Additions 6,456 - 862 7,318
As at 31 May 2025 115,654 77,142 3,604 196,400
Depreciation
As at 1 June 2024 74,276 19,286 685 94,247
Provided during the period 12,298 14,464 730 27,492
As at 31 May 2025 86,574 33,750 1,415 121,739
Net Book Value
As at 31 May 2025 29,080 43,392 2,189 74,661
As at 1 June 2024 34,922 57,856 2,057 94,835
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Motor Vehicles 34,918 46,557
5. Stocks
2025 2024
£ £
Stock 84,529 58,897
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 418,743 204,288
Other debtors 784,472 507,480
1,203,215 711,768
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Westwood Joinery Services Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended 31 May 2025
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 10,662 10,244
Trade creditors 200,666 237,582
Bank loans and overdrafts 10,496 10,222
Other creditors 60,614 37,408
Taxation and social security 430,085 212,352
712,523 507,808
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 21,426 32,087
Bank loans 877 11,375
22,303 43,462
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,662 10,244
Later than five years 21,426 32,087
32,088 42,331
32,088 42,331
10. Deferred Taxation
The provision for deferred tax is made up as follows:
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 3 3
The nominal value per share is £1 and as at year-end there is 1 Ordinary Share, 1 Ordinary A Share and 1 Ordinary B Share in issue.
12. Pension Commitments
The company operates a defined contribution pension scheme for staff. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £353 were due to the fund. They are included in creditors and shown seperatly.
13. Dividends
2025 2024
£ £
On equity shares:
Interim dividend paid 70,000 144,460
Page 6
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Westwood Joinery Services Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended 31 May 2025
14. Related Party Transactions
The amount owed by Level West Ltd, a company related via common control, totalled £634,682 as at the year-end, which is a current asset, interest free and repayable on demand.
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