IRIS Accounts Production v24.1.0.578 02416726 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh024167262022-07-31024167262023-07-31024167262022-08-012023-07-31024167262021-07-31024167262021-08-012022-07-31024167262022-07-3102416726ns14:PoundSterling2022-08-012023-07-3102416726ns10:Director12022-08-012023-07-3102416726ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3102416726ns10:SmallEntities2022-08-012023-07-3102416726ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3102416726ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3102416726ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3102416726ns10:FullAccounts2022-08-012023-07-3102416726ns10:Director22022-08-012023-07-3102416726ns10:Director32022-08-012023-07-3102416726ns10:Director42022-08-012023-07-3102416726ns10:CompanySecretary12022-08-012023-07-3102416726ns10:RegisteredOffice2022-08-012023-07-3102416726ns5:CurrentFinancialInstruments2023-07-3102416726ns5:CurrentFinancialInstruments2022-07-3102416726ns5:Non-currentFinancialInstruments2023-07-3102416726ns5:Non-currentFinancialInstruments2022-07-3102416726ns5:ShareCapital2023-07-3102416726ns5:ShareCapital2022-07-3102416726ns5:SharePremium2023-07-3102416726ns5:SharePremium2022-07-3102416726ns5:RetainedEarningsAccumulatedLosses2023-07-3102416726ns5:RetainedEarningsAccumulatedLosses2022-07-3102416726ns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-08-012023-07-3102416726ns5:FurnitureFittings2022-08-012023-07-3102416726ns5:MotorVehicles2022-08-012023-07-3102416726ns5:LandBuildings2022-07-3102416726ns5:PlantMachinery2022-07-3102416726ns5:FurnitureFittings2022-07-3102416726ns5:MotorVehicles2022-07-3102416726ns5:LandBuildings2022-08-012023-07-3102416726ns5:PlantMachinery2022-08-012023-07-3102416726ns5:LandBuildings2023-07-3102416726ns5:PlantMachinery2023-07-3102416726ns5:FurnitureFittings2023-07-3102416726ns5:MotorVehicles2023-07-3102416726ns5:LandBuildings2022-07-3102416726ns5:PlantMachinery2022-07-3102416726ns5:FurnitureFittings2022-07-3102416726ns5:MotorVehicles2022-07-3102416726ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3102416726ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3102416726ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-07-3102416726ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-07-3102416726ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-07-3102416726ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-07-31
REGISTERED NUMBER: 02416726














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

WEST SUSSEX ANTIQUE TIMBER CO. LTD.

WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEST SUSSEX ANTIQUE TIMBER CO. LTD.

Company Information
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: T Saunders
K Saunders
T Lambeth
A Spiers





SECRETARY: T Lambeth





REGISTERED OFFICE: Reliance Works
New Pound
Wisborough Green
West Sussex
RH14 0AZ





REGISTERED NUMBER: 02416726





ACCOUNTANTS: Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT

WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)

Balance Sheet
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 294,197 252,172

CURRENT ASSETS
Stocks 172,953 116,531
Debtors 5 54,819 11,527
Cash at bank 145,571 340,580
373,343 468,638
CREDITORS
Amounts falling due within one year 6 (531,832 ) (566,574 )
NET CURRENT LIABILITIES (158,489 ) (97,936 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,708

154,236

CREDITORS
Amounts falling due after more than
one year

7

(32,063

)

(87,320

)
NET ASSETS 103,645 66,916

CAPITAL AND RESERVES
Called up share capital 99 99
Share premium 1,401 1,401
Retained earnings 102,145 65,416
SHAREHOLDERS' FUNDS 103,645 66,916

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

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

WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)

Balance Sheet - continued
31 JULY 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 3 April 2024 and were signed on its behalf by:





T Lambeth - Director


WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

West Sussex Antique Timber Co. Ltd. is a private company, limited by shares , registered in Not specified/Other. 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. 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.
Leasehold improvements - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.


WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
improvements machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2022 68,763 - 225,220 154,125 448,108
Additions - 25,256 - 75,974 101,230
At 31 July 2023 68,763 25,256 225,220 230,099 549,338
DEPRECIATION
At 1 August 2022 5,500 - 112,801 77,635 195,936
Charge for year 1,375 2,851 16,863 38,116 59,205
At 31 July 2023 6,875 2,851 129,664 115,751 255,141
NET BOOK VALUE
At 31 July 2023 61,888 22,405 95,556 114,348 294,197
At 31 July 2022 63,263 - 112,419 76,490 252,172

WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,884 11,527
Other debtors 40,935 -
54,819 11,527

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 54,905 54,474
Hire purchase contracts 18,881 11,289
Trade creditors 189,997 174,972
Tax 42,748 55,270
Social security and other taxes 53,514 58,876
VAT 18,176 29,387
Other creditors 2,192 2,192
Directors' current accounts 111,729 128,229
Accrued expenses 39,690 51,885
531,832 566,574

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 3,333 6,125
Bank loans - 2-5 years - 3,333
Hire purchase contracts 28,730 15,268
Other creditors - 62,594
32,063 87,320