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Company Registration No. 08580013 (England and Wales)
DURHAM TIMBER PRODUCTS LIMITED Unaudited accounts for the year ended 30 June 2023
DURHAM TIMBER PRODUCTS LIMITED Unaudited accounts Contents
Page
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DURHAM TIMBER PRODUCTS LIMITED Company Information for the year ended 30 June 2023
Director
JONES, Darren
Company Number
08580013 (England and Wales)
Registered Office
UNIT 9 LITTLEBURN INDUSTRIAL ESTATE LANGLEY MOOR DURHAM DH7 8HG ENGLAND
Accountants
Bergen Associates (Chartered Certified Accountants) Bergen Chambers 68 Carden Place West End Aberdeen AB10 1UL
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of DURHAM TIMBER PRODUCTS LIMITED for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DURHAM TIMBER PRODUCTS LIMITED for the year ended 30 June 2023 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of DURHAM TIMBER PRODUCTS LIMITED, as a body, in accordance with the terms of our engagement letter dated 1 July 2019. Our work has been undertaken solely to prepare for your approval the accounts of DURHAM TIMBER PRODUCTS LIMITED and state those matters that we have agreed to state to the Board of Directors of DURHAM TIMBER PRODUCTS LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DURHAM TIMBER PRODUCTS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that DURHAM TIMBER PRODUCTS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of DURHAM TIMBER PRODUCTS LIMITED. You consider that DURHAM TIMBER PRODUCTS LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of DURHAM TIMBER PRODUCTS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Bergen Associates (Chartered Certified Accountants) Chartered Certified Accountants Bergen Chambers 68 Carden Place West End Aberdeen AB10 1UL 19 February 2024
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DURHAM TIMBER PRODUCTS LIMITED Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,700 
3,600 
Current assets
Inventories
19,000 
19,500 
Debtors
5,095 
19,048 
Cash at bank and in hand
12,992 
7,797 
37,087 
46,345 
Creditors: amounts falling due within one year
(32,146)
(49,442)
Net current assets/(liabilities)
4,941 
(3,097)
Total assets less current liabilities
7,641 
503 
Creditors: amounts falling due after more than one year
(18,516)
(24,063)
Net liabilities
(10,875)
(23,560)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(10,877)
(23,562)
Shareholders' funds
(10,875)
(23,560)
For the year ending 30 June 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 director acknowledges his 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 and authorised for issue on 19 February 2024 and were signed on its behalf by
JONES, Darren Director Company Registration No. 08580013
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DURHAM TIMBER PRODUCTS LIMITED Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
DURHAM TIMBER PRODUCTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08580013. The registered office is UNIT 9 LITTLEBURN INDUSTRIAL ESTATE, LANGLEY MOOR, DURHAM, DH7 8HG, ENGLAND.
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.
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
25% reducing balance
Fixtures & fittings
25% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Inventories
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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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DURHAM TIMBER PRODUCTS LIMITED Notes to the Accounts for the year ended 30 June 2023
Leased assets
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.
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 July 2022
20,000 
At 30 June 2023
20,000 
Amortisation
At 1 July 2022
20,000 
At 30 June 2023
20,000 
Net book value
At 30 June 2023
- 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 July 2022
9,612 
At 30 June 2023
9,612 
Depreciation
At 1 July 2022
6,012 
Charge for the year
900 
At 30 June 2023
6,912 
Net book value
At 30 June 2023
2,700 
At 30 June 2022
3,600 
6
Inventories
2023 
2022 
£ 
£ 
Raw materials
19,000 
19,500 
19,000 
19,500 
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DURHAM TIMBER PRODUCTS LIMITED Notes to the Accounts for the year ended 30 June 2023
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,095 
19,048 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
11,794 
- 
VAT
- 
7,276 
Trade creditors
3,332 
5,808 
Taxes and social security
2,643 
9,690 
Other creditors
154 
- 
Loans from directors
6,127 
3,064 
Accruals
3,154 
6,183 
Deferred income
4,942 
17,421 
32,146 
49,442 
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
18,516 
24,063 
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
11
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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