HATTAM CARPENTERS LTD


Director	Mr A P Rattenbury


Registered Address	2 Endeavour House Parkway Court
	Longbridge Road
	Plymouth
	PL6 8LR


Place of Business	19 Doulton Road
	St Austell
	PL25 3JA


Registered Number	09305913 (England and Wales)

Notes to the Financial Statements
for the year ended 30 November 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and with the Companies Act 2006.

	Basis of preparation
	The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

	Revenue from rendering of services
	Revenue 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.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted net present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted net present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. The taxation expense represents the current tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

The taxation expense represents the current tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax
losses and other 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. Deferred tax is
measured using the tax rates and laws that have been enacted or substantively enacted by the
reporting date that are expected to apply to the reversal of the timing difference.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Tangible fixed assets and depreciation

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

	Investment property
	Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. Investment properties are valued by the directors, on an open market value for existing use basis.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	10		9

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 December 24	500,000	500,000
At 30 November 25	500,000	500,000
Amortisation and impairment
At 01 December 24	370,833	370,833
Charge for year	50,000	50,000
At 30 November 25	420,833	420,833
Net book value
At 30 November 25	79,167	79,167
At 30 November 24	129,167	129,167

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 December 24	67,743	7,256	73,050	148,049
Additions	1,639	-	14,999	16,638
Disposals	-	-	(10,299)	(10,299)
At 30 November 25	69,382	7,256	77,750	154,388
Depreciation and impairment
At 01 December 24	70	3,616	26,490	30,176
Charge for year	439	876	11,102	12,417
On disposals	-	-	(8,149)	(8,149)
At 30 November 25	509	4,492	29,443	34,444
Net book value
At 30 November 25	68,873	2,764	48,307	119,944
At 30 November 24	67,673	3,640	46,560	117,873

5.	Investment property


		£
	Fair value at 01 December 24	180,000
	Additions	4,215
	Fair value adjustments	4,785
	At 30 November 25	189,000

6.	Stocks

	2025	2024
	£	£
Raw materials and consumables	3,825	4,332
Total	3,825	4,332

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	604,942	534,189
Other debtors	15,784	9,925
Prepayments and accrued income	4,201	4,731
Total	624,927	548,845

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	89,766	87,478
Taxation and social security	58,541	45,619
Finance lease and HP contracts	9,636	6,027
Other creditors	131,753	117,382
Accrued liabilities and deferred income	59,277	52,154
Total	348,973	308,660

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	39,780	89,415
Total	39,780	89,415

10.	Secured creditors
	Included within creditors are loans of £79,167 (2024: £129,167), secured by a personal guarantee.

11.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	20,248		16,275

12.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	17,642	12,343
Total	17,642	12,343

13.	Share capital
	Ordinary shares of £1 each, issued called up and fully paid £1 (2024: £1).

14.	Fair value reserve


		£
	Fair value reserve at 01 December 24	4,702
	Transferred in period	3,240
	At 30 November 25	7,942

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		79,167		129,167
Tangible assets	4		119,944		117,873
Investment property	5		189,000		180,000
			388,111		427,040
Current assets
Stocks	6	3,825		4,332
Debtors	7	624,927		548,845
Cash at bank and on hand		157,287		212,157
		786,039		765,334
Creditors amounts falling due within one year	8	(348,973)		(308,660)
Net current assets (liabilities)			437,066		456,674
Total assets less current liabilities			825,177		883,714
Creditors amounts falling due after one year	9		(39,780)		(89,415)
Provisions for liabilities	12		(17,642)		(12,343)
Net assets			767,755		781,956
Capital and reserves
Called up share capital			1		1
Other reserves			7,942		4,702
Profit and loss account			759,812		777,253
Shareholders' funds	14		767,755		781,956