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Registration number: 03120867

Taunton Joinery Limited
Annual Report and Unaudited Filleted Abridged Financial Statements
for the Year Ended 30 November 2025

Taunton Joinery Limited

Contents

Abridged Balance Sheet | 1 to 2
Notes to the Unaudited Abridged Financial Statements | 3 to 6

Taunton Joinery Limited

(Registration number: 03120867)
Abridged Balance Sheet as at 30 November 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 584,494 | 476,174
Current assets |  |  |
Stocks |  | 134,248 | 118,416
Debtors |  | 438,564 | 500,364
Investments |  | 652 | 484
Cash at bank and in hand |  | 574,834 | 434,268
|  | 1,148,298 | 1,053,532
Creditors: Amounts falling due within one year |  | (516,477) | (436,710)
Net current assets |  | 631,821 | 616,822
Total assets less current liabilities |  | 1,216,315 | 1,092,996
Creditors: Amounts falling due after more than one year | 5 | (152,114) | (108,615)
Provisions for liabilities |  | (111,582) | (81,304)
Net assets |  | 952,619 | 903,077
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Profit and loss account |  | 952,617 | 903,075
Total equity |  | 952,619 | 903,077

Taunton Joinery Limited

(Registration number: 03120867)
Abridged Balance Sheet as at 30 November 2025

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

| The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
| The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 12 March 2026 and signed on its behalf by:

Mr N A Morris

Director

Mr J W A Stewart

Director

Taunton Joinery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 14 Cornishway South
Galmington Trading Estate
Taunton
Somerset
TA1 5NQ

These financial statements were authorised for issue by the Board on 12 March 2026.

2 | Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Taunton Joinery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land and buildings | 20% straight line
Fixtures and fittings | 33% straight line
Motor vehicles | 33% straight line
Plant and machinery | 10% / 15% / 20% / 33% straight line

Investments

Investments in equity shares where the fair value can be reliably are initially measured at fair value, with changes in fair value recognised in the profit and loss account. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Taunton Joinery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.
The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.
Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2024 - 18).

4 | Tangible assets

| Total £
Cost or valuation
At 1 December 2024 | 870,980
Additions | 213,971
Disposals | (62,161)
At 30 November 2025 | 1,022,790
Depreciation
At 1 December 2024 | 395,223
Charge for the year | 96,356
Eliminated on disposal | (53,283)
At 30 November 2025 | 438,296
Carrying amount
At 30 November 2025 | 584,494
At 30 November 2024 | 476,174

Included within the net book value of land and buildings above is £139,382 (2024 - £152,685) in respect of short leasehold land and buildings.

Taunton Joinery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2025

5 | Creditors: amounts falling due after more than one year

Bank borrowings

Bank loans is denominated in with a nominal interest rate of 2.5%, and the final instalment is due on 15 July 2026. The carrying amount at year end is £5,834 (2024 - £15,833). The borrowings include a Bounce Back loan of £50,000 received during the year. The UK Government has provided a full guarantee in respect of the loan.

Other borrowings

The carrying amount of HP and finance lease liabilities at year end is £226,214 (2024 - £137,982). The liabilities are secured against the assets to which they relate.

6 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £216,638 (2024 - £234,888).

7 | Parent and ultimate parent undertaking

The company's immediate parent is Taunton Joinery Holdings Limited, incorporated in England and Wales.
These financial statements are available upon request from Unit 14 Cornishway South, Galmington Trading Estate, Taunton, Somerset TA1 5NQ.