2022-11-012023-10-312023-10-31false09834082TIMBER-TECH PROJECTS 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TIMBER-TECH PROJECTS LIMITED

Registered Number
09834082
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

TIMBER-TECH PROJECTS LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

LANCASTER, Adam John

Registered Address

The Old Granary
Dunton Road
Laindon
SS15 4DB

Registered Number

09834082 (England and Wales)
TIMBER-TECH PROJECTS LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets340,81216,540
40,81216,540
Current assets
Stocks52,37788,694
Debtors45,39127,642
Cash at bank and on hand29,1047,482
86,872123,818
Creditors amounts falling due within one year5(43,826)(82,247)
Net current assets (liabilities)43,04641,571
Total assets less current liabilities83,85858,111
Creditors amounts falling due after one year6(54,423)(52,157)
Net assets29,4355,954
Capital and reserves
Called up share capital22
Profit and loss account29,4335,952
Shareholders' funds29,4355,954
The financial statements were approved and authorised for issue by the Director on 30 July 2024, and are signed on its behalf by:
LANCASTER, Adam John
Director
Registered Company No. 09834082
TIMBER-TECH PROJECTS LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Vehicles5
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year12
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 2243,925
Additions35,930
Disposals(15,569)
At 31 October 2364,286
Depreciation and impairment
At 01 November 2227,385
Charge for year11,658
On disposals(15,569)
At 31 October 2323,474
Net book value
At 31 October 2340,812
At 31 October 2216,540
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables-27,354
Prepayments and accrued income5,391288
Total5,39127,642
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables4,38635,174
Bank borrowings and overdrafts10,00010,000
Taxation and social security29,44037,073
Total43,82682,247
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts17,13326,667
Other creditors37,29025,490
Total54,42352,157
Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.