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Company Registration No. 03480867 (England and Wales)
Major Timber Limited Unaudited accounts for the year ended 31 December 2021
Major Timber Limited Unaudited accounts Contents
Page
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Major Timber Limited Company Information for the year ended 31 December 2021
Directors
M Robinson M Steinhart
Secretary
M Robinson
Company Number
03480867 (England and Wales)
Registered Office
Churchill House 137-139 Brent Street London NW4 4DJ
Accountants
Clearfin Accountants Limited Churchill House 137-139 Brent Street London NW4 4DJ
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Major Timber Limited Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,889 
2,222 
Current assets
Debtors
450,777 
241,890 
Cash at bank and in hand
33,580 
25,840 
484,357 
267,730 
Creditors: amounts falling due within one year
(456,340)
(236,352)
Net current assets
28,017 
31,378 
Net assets
29,906 
33,600 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
29,806 
33,500 
Shareholders' funds
29,906 
33,600 
For the year ending 31 December 2021 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2022 and were signed on its behalf by
M Steinhart Director Company Registration No. 03480867
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Major Timber Limited Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
Major Timber Limited is a private company, limited by shares, registered in England and Wales, registration number 03480867. The registered office is Churchill House, 137-139 Brent Street, London, NW4 4DJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% reducing balance
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Major Timber Limited Notes to the Accounts for the year ended 31 December 2021
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 January 2021
8,510 
At 31 December 2021
8,510 
Depreciation
At 1 January 2021
6,288 
Charge for the year
333 
At 31 December 2021
6,621 
Net book value
At 31 December 2021
1,889 
At 31 December 2020
2,222 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
376,703 
237,796 
Accrued income and prepayments
- 
1,427 
Other debtors
74,074 
2,667 
450,777 
241,890 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
109,389 
- 
VAT
2,362 
2,958 
Trade creditors
134,073 
16,622 
Taxes and social security
- 
797 
Other creditors
209,266 
210,116 
Accruals
1,250 
5,859 
456,340 
236,352 
7
Average number of employees
During the year the average number of employees was 3 (2020: 3).
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