Registration number:
BOOKER TIMBER LTD
for the Year Ended 29 March 2023
BOOKER TIMBER LTD
Contents
Company Information |
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Directors' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
BOOKER TIMBER LTD
Company Information
Directors |
Mrs G Booker Mr CR Booker Mr C R Ellis |
Company secretary |
Mrs G Booker |
Registered office |
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Accountants |
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BOOKER TIMBER LTD
Directors' Report for the Year Ended 29 March 2023
The directors present their report and the financial statements for the year ended 29 March 2023.
Directors of the company
The directors who held office during the year were as follows:
Small companies provision statement
This report has 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.
Approved and authorised by the
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BOOKER TIMBER LTD
(Registration number: 03297182)
Balance Sheet as at 29 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
11,200 |
11,200 |
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Revaluation reserve |
25,920 |
25,920 |
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Retained earnings |
(120,149) |
(165,012) |
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Shareholders' deficit |
(83,029) |
(127,892) |
For the financial year ending 29 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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.
BOOKER TIMBER LTD
(Registration number: 03297182)
Balance Sheet as at 29 March 2023
These financial statements have been 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 Profit and Loss Account.
Approved and authorised by the
.........................................
Director
BOOKER TIMBER LTD
Notes to the Unaudited Financial Statements for the Year Ended 29 March 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
Unit 19/2
Mersey Wharf Business Park
Dock Road South
Bromborough
Merseyside
CH62 4SF
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 accounts have been rounded to the nearest whole Pound Sterling and the presentation currency of the financial statements is the Pound Sterling (£).
Going concern
The financial statements have been prepared on a going concern basis.
BOOKER TIMBER LTD
Notes to the Unaudited Financial Statements for the Year Ended 29 March 2023
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 from product sales when delivery has occurred or services have been rendered, acceptance by the customer occurs and collectivity of the resulting trade debtor is reasonably assured.
Government grants
Government grants in relation to expenditure are credited to the profit and loss account when the expenditure is charged to the profit and loss.
Tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
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 balance sheet date.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements that have originated but not reversed at the balance sheet 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 the 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 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 balance sheet 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.
BOOKER TIMBER LTD
Notes to the Unaudited Financial Statements for the Year Ended 29 March 2023
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 |
Plant and machinery |
10% on reducing balance pro-rata |
Fixtures and fittings |
25% on cost |
Motor vehicles |
25% on cost |
Computer equipment |
25% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, 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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and after making due impairment for obsolete and slow moving items.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
BOOKER TIMBER LTD
Notes to the Unaudited Financial Statements for the Year Ended 29 March 2023
Interest-bearing borrowings are classified as basic instruments and 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
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 the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
BOOKER TIMBER LTD
Notes to the Unaudited Financial Statements for the Year Ended 29 March 2023
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 30 March 2022 |
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Additions |
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- |
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Disposals |
( |
( |
( |
At 29 March 2023 |
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Depreciation |
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At 30 March 2022 |
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Charge for the year |
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- |
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Eliminated on disposal |
( |
( |
( |
At 29 March 2023 |
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Carrying amount |
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At 29 March 2023 |
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- |
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At 29 March 2022 |
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Revaluation
The fair value of the company's Plant and machinery was revalued on
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
Stocks |
2023 |
2022 |
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Stock |
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BOOKER TIMBER LTD
Notes to the Unaudited Financial Statements for the Year Ended 29 March 2023
Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Current creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts and factors advances which are secured of £124,561 (2022 187,682).
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Non current creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £250,232 (2022 - £330,899).
BOOKER TIMBER LTD
Notes to the Unaudited Financial Statements for the Year Ended 29 March 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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5,600 |
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5,600 |
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5,400 |
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5,400 |
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100 |
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100 |
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100 |
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100 |
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Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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Hire purchase contracts |
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BOOKER TIMBER LTD
Notes to the Unaudited Financial Statements for the Year Ended 29 March 2023
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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Hire purchase contracts |
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Bank borrowings
HSBC Bank Plc registered a debenture on the 20/02/2001 to secure all monies due or to become due from the company on any account whatsoever by way of fixed and floating charges over the undertakings and all property and assets present and future including goodwill book-debts uncalled capital buildings fixtures fixed plant and machinery.
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Off-balance sheet arrangements |
Leasing Arrangements
Minimum lease payments under non-cancellable operating leases fall due as follows £189,000 (2022 - £189,000).