Company Registration No. 08513527 (England and Wales)
Barton Sawmill Limited
Unaudited accounts
for the year ended 31 May 2023
Barton Sawmill Limited
Unaudited accounts
Contents
Barton Sawmill Limited
Company Information
for the year ended 31 May 2023
Directors
Mr D Lethbridge
Mrs L Lethbridge
Mr P Lethbridge
Company Number
08513527 (England and Wales)
Registered Office
Fallapit Bungalow
East Allington
Totnes
Devon
TQ9 7QD
United Kingdom
Accountants
EllamWalker Accountants Ltd
Sydeham Farm
Rackenford
Tiverton
Devon
EX16 8ER
Barton Sawmill Limited
Statement of financial position
as at 31 May 2023
Tangible assets
225,158
263,652
Cash at bank and in hand
343,176
363,030
Creditors: amounts falling due within one year
(35,425)
(41,554)
Net current assets
457,104
426,970
Total assets less current liabilities
682,262
690,622
Provisions for liabilities
Deferred tax
(56,290)
(44,342)
Net assets
625,972
646,280
Called up share capital
30
30
Profit and loss account
625,942
646,250
Shareholders' funds
625,972
646,280
For the year ending 31 May 2023 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 13 February 2024 and were signed on its behalf by
Mr D Lethbridge
Director
Company Registration No. 08513527
Barton Sawmill Limited
Notes to the Accounts
for the year ended 31 May 2023
Barton Sawmill Limited is a private company, limited by shares, registered in England and Wales, registration number 08513527. The registered office is Fallapit Bungalow, East Allington, Totnes, Devon, TQ9 7QD, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
10% Reducing balance
Motor vehicles
25% Reducing balance
Computer equipment
33% Reducing balance
Other tangible fixed assets
20 Years straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Barton Sawmill Limited
Notes to the Accounts
for the year ended 31 May 2023
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.
4
Tangible fixed assets
Plant & machinery
Charge for the year
24,498
Amounts falling due within one year
Trade debtors
10,232
22,194
Accrued income and prepayments
2,830
2,623
Other debtors
107,291
48,677
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
8,876
10,271
Taxes and social security
12,341
26,533
Allotted, called up and fully paid:
30 Ordinary shares of £1 each
30
30
8
Transactions with related parties
Included in other debtors falling due within on year are directors loan accounts amounting to £107,291 (2022 - £48,677). These loans were repaid 11 September 2023.
Barton Sawmill Limited
Notes to the Accounts
for the year ended 31 May 2023
The controlling party is D Lethbridge
10
Average number of employees
During the year the average number of employees was 3 (2022: 4).