Optimum Carpentry & Joinery Ltd

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 7

Optimum Carpentry & Joinery Ltd

(Registration number: 11718444)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	172,280	176,302
Current assets
Stocks	5	134,306	295,520
Debtors	6	300,003	183,973
Cash at bank and in hand		1,694,482	473,655
		2,128,791	953,148
Creditors: Amounts falling due within one year	7	(621,182)	(377,031)
Net current assets		1,507,609	576,117
Total assets less current liabilities		1,679,889	752,419
Creditors: Amounts falling due after more than one year	7	(2,472)	(17,936)
Provisions for liabilities		(43,070)	(45,645)
Net assets		1,634,347	688,838
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,634,247	688,738
Shareholders' funds		1,634,347	688,838

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

Director's responsibilities:

•	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 director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 30 April 2026
 

Mr R Hornby Director

Optimum Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
5a Willow Court
Endsleigh
Ivybridge
United Kingdom
PL21 9JL

Principal activity

The principal activity of the company is that of carpentry services.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Optimum Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's 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 income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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
Motor vehicles	25% reducing balance
Computer equipment	Straight line over 4 years

Optimum Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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 statement of comprehensive income 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.

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2024 - 8).

Optimum Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2025	1,223	10,687	244,208	256,118
Additions	-	5,694	40,401	46,095
Disposals	-	-	(18,810)	(18,810)
At 31 December 2025	1,223	16,381	265,799	283,403
Depreciation
At 1 January 2025	140	3,353	76,323	79,816
Charge for the year	271	3,689	40,577	44,537
Eliminated on disposal	-	-	(13,230)	(13,230)
At 31 December 2025	411	7,042	103,670	111,123
Carrying amount
At 31 December 2025	812	9,339	162,129	172,280
At 31 December 2024	1,083	7,334	167,885	176,302

5

Stocks

	2025 £	2024 £
Work in progress	134,306	295,520

6

Debtors

	2025 £	2024 £
Trade debtors	180,778	113,873
Other debtors	103,632	58,259
Prepayments	15,593	11,841
	300,003	183,973

Optimum Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

		2025 £	2024 £
Loans and borrowings	9	15,464	17,323
Trade creditors		229,380	139,156
Taxation and social security		366,684	84,848
Accruals and deferred income		3,692	3,940
Other creditors		5,962	131,764
		621,182	377,031

Creditors: amounts falling due after more than one year

		2025 £	2024 £
Loans and borrowings	9	2,472	17,936

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Optimum Carpentry & Joinery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	5,576
Hire purchase contracts	2,472	12,360
	2,472	17,936

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,576	7,435
Hire purchase contracts	9,888	9,888
	15,464	17,323

The bank borrowings are secured by a government guarantee.

The hire purchase contract is secured against the asset to which it relates.

10	Related party transactions

Transactions with the director

During the year the directors entered into the following advances and credits with the company:
 

2025	At 1 January 2025 £	Advances to director £	Repayments by director £	At 31 December 2025 £
Director	(115,172)	211,705	(81,145)	15,388

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
Director	(51,118)	35,220	(99,274)	(115,172)