Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31false2022-11-01Sawmill Operators2020falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03344247 2022-11-01 2023-10-31 03344247 2021-11-01 2022-10-31 03344247 2023-10-31 03344247 2022-10-31 03344247 c:Director1 2022-11-01 2023-10-31 03344247 c:Director2 2022-11-01 2023-10-31 03344247 d:Buildings 2022-11-01 2023-10-31 03344247 d:Buildings 2023-10-31 03344247 d:Buildings 2022-10-31 03344247 d:Buildings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03344247 d:Buildings d:LongLeaseholdAssets 2022-11-01 2023-10-31 03344247 d:PlantMachinery 2022-11-01 2023-10-31 03344247 d:PlantMachinery 2023-10-31 03344247 d:PlantMachinery 2022-10-31 03344247 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03344247 d:MotorVehicles 2022-11-01 2023-10-31 03344247 d:MotorVehicles 2023-10-31 03344247 d:MotorVehicles 2022-10-31 03344247 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03344247 d:OfficeEquipment 2022-11-01 2023-10-31 03344247 d:OfficeEquipment 2023-10-31 03344247 d:OfficeEquipment 2022-10-31 03344247 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03344247 d:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 03344247 d:OtherPropertyPlantEquipment 2023-10-31 03344247 d:OtherPropertyPlantEquipment 2022-10-31 03344247 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03344247 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03344247 d:CurrentFinancialInstruments 2023-10-31 03344247 d:CurrentFinancialInstruments 2022-10-31 03344247 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 03344247 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 03344247 d:ShareCapital 2023-10-31 03344247 d:ShareCapital 2022-10-31 03344247 d:RetainedEarningsAccumulatedLosses 2023-10-31 03344247 d:RetainedEarningsAccumulatedLosses 2022-10-31 03344247 c:OrdinaryShareClass1 2022-11-01 2023-10-31 03344247 c:OrdinaryShareClass1 2023-10-31 03344247 c:FRS102 2022-11-01 2023-10-31 03344247 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 03344247 c:FullAccounts 2022-11-01 2023-10-31 03344247 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 03344247 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-11-01 2023-10-31 03344247 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-31 03344247 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03344247









WALLER SAWMILLS LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
WALLER SAWMILLS LTD
REGISTERED NUMBER: 03344247

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
501,385
525,638

  
501,385
525,638

Current assets
  

Stocks
  
248,444
377,348

Debtors: amounts falling due within one year
 5 
467,497
501,642

Cash at bank and in hand
  
511,721
575,538

  
1,227,662
1,454,528

Creditors: amounts falling due within one year
 6 
(615,251)
(641,293)

Net current assets
  
 
 
612,411
 
 
813,235

Total assets less current liabilities
  
1,113,796
1,338,873

Provisions for liabilities
  

Deferred tax
  
(103,642)
(95,329)

  
 
 
(103,642)
 
 
(95,329)

Net assets
  
1,010,154
1,243,544


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,010,054
1,243,444

  
1,010,154
1,243,544


Page 1

 
WALLER SAWMILLS LTD
REGISTERED NUMBER: 03344247
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 February 2024.




P D Waller
Miss P M Allen
Director
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
WALLER SAWMILLS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales. The address of its registered office is Heath Road, The Heath, Hevingham, Norfolk, NR10 5QW.
The company's principal activity is that of sawmill operators. The principal place of business is Hevingham, Norfolk.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover repesents sales of goods net of Value Added Tax and is recognised when the goods are physically delivered to the customer. 

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
WALLER SAWMILLS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Freehold buildings
-
2%
straight line
Property improvements
-
10%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
WALLER SAWMILLS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2022 - 20).

Page 5

 
WALLER SAWMILLS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Land and buildings
Plant & machinery
Motor vehicles
Office equipment
Property improvements
Total

£
£
£
£
£
£



Cost or valuation


At 1 November 2022
363,902
3,315,364
14,365
13,176
-
3,706,807


Additions
-
16,009
-
1,951
36,598
54,558



At 31 October 2023

363,902
3,331,373
14,365
15,127
36,598
3,761,365



Depreciation


At 1 November 2022
110,642
3,046,445
13,910
10,173
-
3,181,170


Charge for the year on owned assets
6,303
68,657
114
1,362
2,375
78,811



At 31 October 2023

116,945
3,115,102
14,024
11,535
2,375
3,259,981



Net book value



At 31 October 2023
246,957
216,271
341
3,592
34,223
501,384



At 31 October 2022
253,260
268,920
455
3,003
-
525,638

Page 6

 
WALLER SAWMILLS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
417,871
476,793

Other debtors
16,295
1,120

Prepayments and accrued income
33,331
23,729

467,497
501,642



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
455,053
447,367

Other taxation and social security
28,328
69,381

Other creditors
119,720
111,747

Accruals and deferred income
12,150
12,798

615,251
641,293



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100



8.


Commitments under operating leases

At 31 October 2023 the Company had future minimum lease payments of £48,924 (2022: £70,668) due under non-cancellable operating leases. 


9.


Related party transactions

As at 31 October 2023 the company owed a director £117,584 (2022: £111,420).

 
Page 7