REGISTERED NUMBER: 03761000 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

IAN WILLIAMS CARPENTRY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I R Williams

Mrs L Williams

Mr C J White

Mr J Wilde

REGISTERED OFFICE:

Unit A Innovation Centre

Ely Valley Business Park

Pontyclun

RCT

CF72 9DZ

REGISTERED NUMBER:

03761000 (England and Wales)

ACCOUNTANTS:

Sullivans Chartered Accountants

13-14 Gelliwastad Road

Pontypridd

Rhondda Cynon Taf

CF37 2BW

FIXED ASSETS

Intangible assets

4

207,300

107,100

Property, plant and equipment

5

223,750

257,677

431,050

364,777

CURRENT ASSETS

Debtors

6

3,711,988

3,391,971

Cash at bank

941,173

1,843,401

4,653,161

5,235,372

CREDITORS

Amounts falling due within one year

7

1,826,344

1,690,982

NET CURRENT ASSETS

2,826,817

3,544,390

TOTAL ASSETS LESS CURRENT LIABILITIES

3,257,867

3,909,167

CREDITORS

Amounts falling due after more than one year

8

-

(33,699

)

PROVISIONS FOR LIABILITIES

(13,609

)

(23,707

)

NET ASSETS

3,244,258

3,851,761

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

3,244,256

3,851,759

SHAREHOLDERS' FUNDS

3,244,258

3,851,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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.

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 25 November 2025 and were signed on its behalf by:

Mr I R Williams - Director

1.	STATUTORY INFORMATION

Ian Williams Carpentry 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 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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the value of work, excluding value added tax, performed during the year with respect of carpentry and joinery services to the commercial building and residential carpentry construction sector.

Turnover is recognised on service contracts as the contract activity progresses and will therefore include amounts recoverable on contract, based upon the completion percentage at each year end..

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten 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.

Short leasehold

-

in accordance with the property

Plant and machinery

-

33% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on cost

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 is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 34 (2024 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

119,000

Additions

125,000

At 31 May 2025

244,000

AMORTISATION

At 1 June 2024

11,900

Amortisation for year

24,800

At 31 May 2025

36,700

NET BOOK VALUE

At 31 May 2025

207,300

At 31 May 2024

107,100

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2024

169,223

181,930

351,153

Additions

1,913

9,940

11,853

Disposals

-

(21,696

)

(21,696

)

At 31 May 2025

171,136

170,174

341,310

DEPRECIATION

At 1 June 2024

-

93,476

93,476

Charge for year

15,688

24,660

40,348

Eliminated on disposal

-

(16,264

)

(16,264

)

At 31 May 2025

15,688

101,872

117,560

NET BOOK VALUE

At 31 May 2025

155,448

68,302

223,750

At 31 May 2024

169,223

88,454

257,677

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

Plant and

machinery

etc

£

COST

At 1 June 2024

and 31 May 2025

56,932

DEPRECIATION

At 1 June 2024

24,908

Charge for year

8,066

At 31 May 2025

32,974

NET BOOK VALUE

At 31 May 2025

23,958

At 31 May 2024

32,024

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/25

31/5/24

£

£

Trade debtors

1,346,549

1,091,052

Amounts recoverable on contract

935,020

1,133,289

Other debtors

1,430,419

1,167,630

3,711,988

3,391,971

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/25

31/5/24

£

£

Hire purchase contracts (see note 9)

33,699

8,747

Trade creditors

1,236,524

1,027,123

Taxation and social security

328,549

441,075

Other creditors

227,572

214,037

1,826,344

1,690,982

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/5/25

31/5/24

£

£

Hire purchase contracts (see note 9)

-

33,699

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31/5/25

31/5/24

£

£

Net obligations repayable:

Within one year

33,699

8,747

Between one and five years

-

33,699

33,699

42,446

Non-cancellable

operating leases

31/5/25

31/5/24

£

£

Within one year

67,075

108,680

Between one and five years

102,392

137,238

In more than five years

79,300

103,700

248,767

349,618

Operating lease commitments mainly relate to office premises and commercial vehicles.

10.	SECURED DEBTS

The following secured debts are included within creditors:

31/5/25

31/5/24

£

£

Hire purchase contracts

33,699

42,446

A registered deed of charge in favour of Barclays Bank Plc is in place over specific company assets.

The charge is connected to current and/or future banking facilities.

Hire purchase assets are secured against the assets to which they relate.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number

Class

NominalValue

31/05/25

31/05/24

£

£

85

Ordinary A

£0.01

0.85

0.85

85

Ordinary B

£0.01

0.85

0.85

15

Ordinary C

£0.01

0.15

0.15

15

Ordinary D

£0.01

0.15

0.15

2.00

2.00

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2025 and 31 May 2024:

31/5/25

31/5/24

£

£

Mr I R Williams and Mrs L Williams

Balance outstanding at start of year

-

-

Amounts advanced

150,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

150,000

-

Directors' loans were repaid shortly after the year end.