IRIS Accounts Production v23.4.0.336 07804197 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh078041972022-12-31078041972023-12-31078041972023-01-012023-12-31078041972021-12-31078041972022-01-012022-12-31078041972022-12-3107804197ns15:EnglandWales2023-01-012023-12-3107804197ns14:PoundSterling2023-01-012023-12-3107804197ns10:Director12023-01-012023-12-3107804197ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3107804197ns10:SmallEntities2023-01-012023-12-3107804197ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3107804197ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3107804197ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107804197ns10:FullAccounts2023-01-012023-12-310780419712023-01-012023-12-3107804197ns10:Director22023-01-012023-12-3107804197ns10:RegisteredOffice2023-01-012023-12-3107804197ns5:CurrentFinancialInstruments2023-12-3107804197ns5:CurrentFinancialInstruments2022-12-3107804197ns5:ShareCapital2023-12-3107804197ns5:ShareCapital2022-12-3107804197ns5:RetainedEarningsAccumulatedLosses2023-12-3107804197ns5:RetainedEarningsAccumulatedLosses2022-12-310780419712023-01-012023-12-3107804197ns5:NetGoodwill2023-01-012023-12-3107804197ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3107804197ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3107804197ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-3107804197ns5:LeaseholdImprovements2023-01-012023-12-3107804197ns5:PlantMachinery2023-01-012023-12-3107804197ns5:FurnitureFittings2023-01-012023-12-3107804197ns5:MotorVehicles2023-01-012023-12-3107804197ns5:ComputerEquipment2023-01-012023-12-3107804197ns5:NetGoodwill2022-12-3107804197ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3107804197ns5:NetGoodwill2023-12-3107804197ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3107804197ns5:NetGoodwill2022-12-3107804197ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3107804197ns5:LandBuildings2022-12-3107804197ns5:LeaseholdImprovements2022-12-3107804197ns5:PlantMachinery2022-12-3107804197ns5:LandBuildings2023-01-012023-12-3107804197ns5:LandBuildings2023-12-3107804197ns5:LeaseholdImprovements2023-12-3107804197ns5:PlantMachinery2023-12-3107804197ns5:LandBuildings2022-12-3107804197ns5:LeaseholdImprovements2022-12-3107804197ns5:PlantMachinery2022-12-3107804197ns5:FurnitureFittings2022-12-3107804197ns5:MotorVehicles2022-12-3107804197ns5:ComputerEquipment2022-12-3107804197ns5:FurnitureFittings2023-12-3107804197ns5:MotorVehicles2023-12-3107804197ns5:ComputerEquipment2023-12-3107804197ns5:FurnitureFittings2022-12-3107804197ns5:MotorVehicles2022-12-3107804197ns5:ComputerEquipment2022-12-3107804197ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3107804197ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 07804197 (England and Wales)












Unaudited Financial Statements

For The Year Ended 31 December 2023

for

Advanced Timber Systems Limited

Advanced Timber Systems Limited (Registered number: 07804197)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Advanced Timber Systems Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: A Potts
Mrs S J Potts





REGISTERED OFFICE: Cricketwood
Tanhouse Lane
Botley
Southampton
Hampshire
SO30 2SZ





REGISTERED NUMBER: 07804197 (England and Wales)





ACCOUNTANTS: Butler & Co (Bishops Waltham) Limited
Chartered Accountants
Avalon House
Waltham Business Park
Brickyard Road, Swanmore
Southampton
Hampshire
SO32 2SA

Advanced Timber Systems Limited (Registered number: 07804197)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 4,808 5,099
Tangible assets 6 2,236,041 1,452,136
2,240,849 1,457,235

CURRENT ASSETS
Stocks 7 322,063 297,172
Debtors 8 633,935 493,508
Cash at bank 737,361 471,046
1,693,359 1,261,726
CREDITORS
Amounts falling due within one year 9 915,720 656,389
NET CURRENT ASSETS 777,639 605,337
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,018,488

2,062,572

PROVISIONS FOR LIABILITIES 510,284 261,406
NET ASSETS 2,508,204 1,801,166

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,507,204 1,800,166
SHAREHOLDERS' FUNDS 2,508,204 1,801,166

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Advanced Timber Systems Limited (Registered number: 07804197)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:





Mrs S J Potts - Director


Advanced Timber Systems Limited (Registered number: 07804197)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Advanced Timber Systems 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 presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements, estimations and uncertainties have arisen in the preparation of the financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Improvements to property - Straight line over 10 years
Plant and machinery - 25% reducing balance basis
Fixtures and equipment - 15% reducing balance basis
Motor vehicles - 25% reducing balance basis
Computer equipment - 33% reducing balance basis

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


Advanced Timber Systems Limited (Registered number: 07804197)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 35 ) .

5. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 240,000 5,820 245,820
AMORTISATION
At 1 January 2023 240,000 721 240,721
Amortisation for year - 291 291
At 31 December 2023 240,000 1,012 241,012
NET BOOK VALUE
At 31 December 2023 - 4,808 4,808
At 31 December 2022 - 5,099 5,099

Advanced Timber Systems Limited (Registered number: 07804197)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

6. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2023 738,524 135,907 1,142,937
Additions 278,017 - 837,685
Disposals - - (21,500 )
At 31 December 2023 1,016,541 135,907 1,959,122
DEPRECIATION
At 1 January 2023 20,932 104,566 548,088
Charge for year 16,629 6,686 346,375
Eliminated on disposal - - (16,926 )
At 31 December 2023 37,561 111,252 877,537
NET BOOK VALUE
At 31 December 2023 978,980 24,655 1,081,585
At 31 December 2022 717,592 31,341 594,849

Fixtures
and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 43,625 163,590 8,299 2,232,882
Additions 908 24,500 60,135 1,201,245
Disposals - - - (21,500 )
At 31 December 2023 44,533 188,090 68,434 3,412,627
DEPRECIATION
At 1 January 2023 10,597 91,132 5,431 780,746
Charge for year 4,966 21,202 16,908 412,766
Eliminated on disposal - - - (16,926 )
At 31 December 2023 15,563 112,334 22,339 1,176,586
NET BOOK VALUE
At 31 December 2023 28,970 75,756 46,095 2,236,041
At 31 December 2022 33,028 72,458 2,868 1,452,136

7. STOCKS
31.12.23 31.12.22
£    £   
Stocks 304,233 234,317
Work-in-progress 17,830 62,855
322,063 297,172

Advanced Timber Systems Limited (Registered number: 07804197)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 490,364 459,782
Other debtors 1,200 1,200
Directors' current accounts 117,659 15,251
Prepayments 24,712 17,275
633,935 493,508

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 460,219 351,417
Tax 114,724 79,786
Social security and other taxes 71,506 58,230
VAT 134,430 42,444
Net wages payable 131,841 121,712
Accrued expenses 3,000 2,800
915,720 656,389

10. RELATED PARTY DISCLOSURES

During the year the directors operated a joint overdrawn current account which constitutes an advance by the company. The details were:

£   
Balance 1 January 202315,251
Private expenditure paid by the company104,186
Private donations36,000
Cash advances149,002
Loan interest1,240
305,679

Repayments(120,020)
Dividends paid but not withdrawn(68,000)

Balance 31 December 2023117,659

The above advance was charged interest at an effective rate of 2.18% pa, had no fixed repayment date and was unsecured.