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REGISTERED NUMBER: 08727608 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

WISE TIMBER & BUILDING SUPPLIES LIMITED

WISE TIMBER & BUILDING SUPPLIES LIMITED (REGISTERED NUMBER: 08727608)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

WISE TIMBER & BUILDING SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr S C Wiseman
Mr P M Jenkins
Mr M L Jenkins





REGISTERED OFFICE: Second Floor
289 Green Lanes
Palmers Green
London
N13 4XS





REGISTERED NUMBER: 08727608 (England and Wales)





ACCOUNTANTS: Hetherington and Co Limited
Chartered Certified Accountants and
Registered Auditors
Second Floor
289 Green Lanes
Palmers Green
London
N13 4XS

WISE TIMBER & BUILDING SUPPLIES LIMITED (REGISTERED NUMBER: 08727608)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 159,023 164,209

CURRENT ASSETS
Stocks 5 310,635 333,727
Debtors 6 311,537 304,708
Cash at bank 273,377 247,845
895,549 886,280
CREDITORS
Amounts falling due within one year 7 464,728 604,277
NET CURRENT ASSETS 430,821 282,003
TOTAL ASSETS LESS CURRENT
LIABILITIES

589,844

446,212

CREDITORS
Amounts falling due after more than
one year

8

(4,200

)

(54,604

)

PROVISIONS FOR LIABILITIES (30,214 ) (31,200 )
NET ASSETS 555,430 360,408

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 555,330 360,308
SHAREHOLDERS' FUNDS 555,430 360,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WISE TIMBER & BUILDING SUPPLIES LIMITED (REGISTERED NUMBER: 08727608)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





Mr S C Wiseman - Director


WISE TIMBER & BUILDING SUPPLIES LIMITED (REGISTERED NUMBER: 08727608)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Wise Timber & Building Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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
Deferred tax is recognised in respect of all timing differences 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 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 that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

WISE TIMBER & BUILDING SUPPLIES LIMITED (REGISTERED NUMBER: 08727608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and also contributes to the directors' personal pension scheme. All contributions made are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 428,445
Additions 59,714
Disposals (53,845 )
At 31 March 2023 434,314
DEPRECIATION
At 1 April 2022 264,236
Charge for year 54,339
Eliminated on disposal (43,284 )
At 31 March 2023 275,291
NET BOOK VALUE
At 31 March 2023 159,023
At 31 March 2022 164,209

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 310,635 333,727

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 196,988 203,510
Other debtors 27,333 27,333
Directors' current accounts 3,917 -
Prepayments 83,299 73,865
311,537 304,708

WISE TIMBER & BUILDING SUPPLIES LIMITED (REGISTERED NUMBER: 08727608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans 50,404 46,204
Trade creditors 264,453 336,052
Tax 43,483 32,317
Social security and other taxes 10,748 10,749
VAT 35,149 36,272
Directors' current accounts - 81,083
Other creditors and accruals 60,491 61,600
464,728 604,277

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Other loans - 2-5 years 4,200 54,604

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loan 54,604 101,580

The bank loan is secured by way of personal guarantees provided by the directors.

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company. At the balance sheet date unpaid contributions of £2,233 (2022 - £1,895) were due to the fund. They are included in other creditors.

11. FINANCIAL COMMITMENTS

At the year end date the company had total commitments under non-cancellable operating lease agreements over the remaining life of those leases of £94,590 (2022: £220,710).

WISE TIMBER & BUILDING SUPPLIES LIMITED (REGISTERED NUMBER: 08727608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mr S C Wiseman
Balance outstanding at start of year - -
Amounts advanced 3,917 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,917 -

The overdrawn balance was repaid to the company after the year end date.

WISE TIMBER & BUILDING SUPPLIES LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
WISE TIMBER & BUILDING SUPPLIES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Hetherington and Co Limited
Chartered Certified Accountants and
Registered Auditors
Second Floor
289 Green Lanes
Palmers Green
London
N13 4XS


29 September 2023