Company No: 06841799 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	216,397		195,116
		216,397		195,116
Current assets
Debtors	4	432,780		560,050
Cash at bank and in hand		107,047		174,726
		539,827		734,776
Creditors: amounts falling due within one year	5	( 108,069)		( 162,491)
Net current assets		431,758		572,285
Total assets less current liabilities		648,155		767,401
Creditors: amounts falling due after more than one year	6	( 48,285)		( 33,685)
Provision for liabilities		( 49,000)		( 43,000)
Net assets		550,870		690,716
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		550,770		690,616
Total shareholders' funds		550,870		690,716

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of ASAP Carpentry and Kitchens Limited (registered number: 06841799) were approved and authorised for issue by the Board of Directors on 12 December 2025. They were signed on its behalf by:

Mr A Perrott Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ASAP Carpentry and Kitchens Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of trade discounts and net of VAT. 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.

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

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Computer equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	12		13

3. Tangible assets

	Plant and machinery		Vehicles		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	271,322		129,368		2,463		403,153
Additions	22,240		58,556		332		81,128
Disposals	0		( 21,257)		0		( 21,257)
At 31 March 2025	293,562		166,667		2,795		463,024
Accumulated depreciation
At 01 April 2024	144,601		62,407		1,029		208,037
Charge for the financial year	31,211		20,766		341		52,318
Disposals	0		( 13,728)		0		( 13,728)
At 31 March 2025	175,812		69,445		1,370		246,627
Net book value
At 31 March 2025	117,750		97,222		1,425		216,397
At 31 March 2024	126,721		66,961		1,434		195,116

4. Debtors

	2025		2024
	£		£
Trade debtors	249,448		298,767
Amounts owed by directors	0		53,112
Prepayments and accrued income	22,996		4,146
VAT recoverable	13,339		12,544
Other debtors	146,997		191,481
	432,780		560,050

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	8,687		9,824
Trade creditors	59,383		85,240
Amounts owed to directors	5,096		0
Accruals	5,828		4,301
Taxation and social security	0		38,600
Obligations under finance leases and hire purchase contracts (secured)	19,508		10,153
Other creditors	9,567		14,373
	108,069		162,491

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	1,563		9,763
Obligations under finance leases and hire purchase contracts (secured)	46,722		23,922
	48,285		33,685

The finance leases and hire purchase contracts are secured on the assets to which they relate.

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Opening balance	53,112		58,046
Advances to director	84,451		130,924
Repayments from director	(142,679)		(137,027)
Interest charged	20		1,169
Closing balance	(5,096)		53,112

The above loan is unsecured and repayable on demand. Interest has been charged in line with the official rate of interest.