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REGISTERED NUMBER: 01273745 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

ENGLISH WOODLANDS TIMBER LIMITED

ENGLISH WOODLANDS TIMBER LIMITED (REGISTERED NUMBER: 01273745)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ENGLISH WOODLANDS TIMBER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: T Compton
I McNally
Mrs M C Compton
K T McNally
K M Fryer





SECRETARY: I McNally





REGISTERED OFFICE: Cocking Sawmills
Cocking
Midhurst
West Sussex
GU29 0HS





REGISTERED NUMBER: 01273745 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

ENGLISH WOODLANDS TIMBER LIMITED (REGISTERED NUMBER: 01273745)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 1,240,801 1,094,160

CURRENT ASSETS
Stocks 1,101,811 1,099,209
Debtors 5 265,709 466,207
Cash at bank and in hand 197,561 314,725
1,565,081 1,880,141
CREDITORS
Amounts falling due within one year 6 1,214,222 1,314,715
NET CURRENT ASSETS 350,859 565,426
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,591,660

1,659,586

CREDITORS
Amounts falling due after more than one year 7 (346,762 ) (316,847 )

PROVISIONS FOR LIABILITIES (294,854 ) (268,556 )
NET ASSETS 950,044 1,074,183

CAPITAL AND RESERVES
Called up share capital 188 188
Share premium 210,000 210,000
Non distributable retained
profit reserve 280,693 236,883
Capital redemption reserve 5,310 5,310
Retained earnings 453,853 621,802
SHAREHOLDERS' FUNDS 950,044 1,074,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

ENGLISH WOODLANDS TIMBER LIMITED (REGISTERED NUMBER: 01273745)

BALANCE SHEET - continued
30 SEPTEMBER 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 2 March 2024 and were signed on its behalf by:





I McNally - Director


ENGLISH WOODLANDS TIMBER LIMITED (REGISTERED NUMBER: 01273745)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

English Woodlands Timber 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.

The presentational currency of the financial statements is in Pound Sterling (£) which is rounded to the nearest pound (£).

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 as modified by the revaluation of certain assets.

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.
Long leasehold - Over the expected life of the lease
Plant and machinery - at variable rates on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

The leasehold property was revalued on 14 September 2018. This is being amortised over the remaining term of the lease, with consideration given to the residual value.

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

Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.


ENGLISH WOODLANDS TIMBER LIMITED (REGISTERED NUMBER: 01273745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Any tax refund is accounted for when its receipt is sufficiently likely.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Government grants made as a contribution towards expenditure on fixed assets are treated as deferred income on the balance sheet and written over the life of the asset.

Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 23 ) .

ENGLISH WOODLANDS TIMBER LIMITED (REGISTERED NUMBER: 01273745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£ £ £ £ £
COST OR VALUATION
At 1 October 2022 460,617 1,165,268 8,248 197,972 1,832,105
Additions 157,521 34,787 1,565 - 193,873
Disposals - (17,770 ) (437 ) - (18,207 )
Revaluations 231,847 - - - 231,847
At 30 September 2023 849,985 1,182,285 9,376 197,972 2,239,618
DEPRECIATION
At 1 October 2022 108,483 533,432 7,746 88,284 737,945
Charge for year 19,859 100,404 751 27,422 148,436
Eliminated on disposal - (17,770 ) (437 ) - (18,207 )
Revaluation adjustments 130,643 - - - 130,643
At 30 September 2023 258,985 616,066 8,060 115,706 998,817
NET BOOK VALUE
At 30 September 2023 591,000 566,219 1,316 82,266 1,240,801
At 30 September 2022 352,134 631,836 502 109,688 1,094,160

Cost or valuation at 30 September 2023 is represented by:

Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£ £ £ £ £
Valuation in 2013 155,307 - - - 155,307
Valuation in 2018 151,276 - - - 151,276
Valuation in 2023 101,204 - - - 101,204
Cost 442,198 1,182,285 9,376 197,972 1,831,831
849,985 1,182,285 9,376 197,972 2,239,618

If leasehold property improvement had not been revalued it would have been included at the following historical cost:

2023 2022
£ £
Cost 442,198 284,678
Aggregate depreciation 166,607 159,011

Leasehold property improvement was valued on an open market basis on 1 September 2023 by Batcheller Monkhouse .

The net book value of tangible fixed assets includes £589,721 (2022: £383,727) in respect of assets held under hire purchase contracts.

ENGLISH WOODLANDS TIMBER LIMITED (REGISTERED NUMBER: 01273745)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 251,321 381,944
Other debtors 14,388 84,263
265,709 466,207

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 45,000 45,000
Hire purchase contracts 134,999 106,010
Trade creditors 611,950 740,551
Taxation and social security 237,485 269,535
Other creditors 184,788 153,619
1,214,222 1,314,715

The National Westminster Bank plc holds an unscheduled mortgage debenture incorporating a fixed and floating charge over all current and future assets of the company.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 78,750 123,750
Hire purchase contracts 250,201 166,066
Other creditors and
deferred income 17,811 27,031
346,762 316,847

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 123,750 168,750
Hire purchase contracts 385,200 272,076
508,950 440,826

Hire purchase liabilities which total £385,200 (2022: £272,076) are secured on the assets to which they relate.

9. OTHER FINANCIAL COMMITMENTS

At 30 September 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £609,949 (2022 : £608,780).