Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31The 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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-11-01false1315truetruefalse 02897609 2022-11-01 2023-10-31 02897609 2021-11-01 2022-10-31 02897609 2023-10-31 02897609 2022-10-31 02897609 2021-11-01 02897609 c:Director1 2022-11-01 2023-10-31 02897609 d:PlantMachinery 2022-11-01 2023-10-31 02897609 d:MotorVehicles 2022-11-01 2023-10-31 02897609 d:MotorVehicles 2023-10-31 02897609 d:MotorVehicles 2022-10-31 02897609 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02897609 d:FurnitureFittings 2022-11-01 2023-10-31 02897609 d:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 02897609 d:OtherPropertyPlantEquipment 2023-10-31 02897609 d:OtherPropertyPlantEquipment 2022-10-31 02897609 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02897609 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02897609 d:CurrentFinancialInstruments 2023-10-31 02897609 d:CurrentFinancialInstruments 2022-10-31 02897609 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 02897609 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 02897609 d:ShareCapital 2023-10-31 02897609 d:ShareCapital 2022-10-31 02897609 d:RetainedEarningsAccumulatedLosses 2023-10-31 02897609 d:RetainedEarningsAccumulatedLosses 2022-10-31 02897609 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 02897609 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 02897609 d:RetirementBenefitObligationsDeferredTax 2023-10-31 02897609 d:RetirementBenefitObligationsDeferredTax 2022-10-31 02897609 c:OrdinaryShareClass1 2022-11-01 2023-10-31 02897609 c:OrdinaryShareClass1 2023-10-31 02897609 c:OrdinaryShareClass1 2022-10-31 02897609 c:FRS102 2022-11-01 2023-10-31 02897609 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 02897609 c:FullAccounts 2022-11-01 2023-10-31 02897609 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 02897609 d:EntityControlledByKeyManagementPersonnel1 2022-11-01 2023-10-31 02897609 d:EntityControlledByKeyManagementPersonnel1 2023-10-31 02897609 d:EntityControlledByKeyManagementPersonnel1 2022-10-31 02897609 d:UltimateParent 2022-11-01 2023-10-31 02897609 d:UltimateParent 2021-11-01 2022-10-31 02897609 d:UltimateParent 2023-10-31 02897609 d:UltimateParent 2022-10-31 02897609 2 2022-11-01 2023-10-31 02897609 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 02897609









T & T TIMBER MERCHANTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
T & T TIMBER MERCHANTS LIMITED
REGISTERED NUMBER: 02897609

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
110,231
90,708

  
110,231
90,708

Current assets
  

Stocks
  
81,196
81,661

Debtors: amounts falling due within one year
 5 
232,890
334,323

Cash at bank and in hand
  
260,100
265,569

  
574,186
681,553

Creditors: amounts falling due within one year
 6 
(656,183)
(761,821)

Net current liabilities
  
 
 
(81,997)
 
 
(80,268)

Total assets less current liabilities
  
28,234
10,440

Provisions for liabilities
  

Deferred tax
 7 
(27,546)
(22,677)

  
 
 
(27,546)
 
 
(22,677)

Net assets/(liabilities)
  
688
(12,237)


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Profit and loss account
  
(312)
(13,237)

  
688
(12,237)


Page 1

 
T & T TIMBER MERCHANTS LIMITED
REGISTERED NUMBER: 02897609

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.

The 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 statement of income and retained earnings 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 by: 




Mr M A T Matthews
Director

Date: 19 July 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
T & T TIMBER MERCHANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The company is a private company limited by shares, incorporated in England, United Kingdom. The registered number for the company is 02897609 and the address of the registered office is 24 Old Bond Street, London, W1S 4AP. The companies trading address is 72-74 Wood Street, Walthamstow, London, E17 3HT.  The company is a subsidiary in a small group. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors consider that the resources available to the company will be sufficient for it to be able to continue as a going concern on the basis of the continued support from its parent undertaking. The directors have confirmed that this support will not be withdrawn and believe that financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
T & T TIMBER MERCHANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

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.

Page 4

 
T & T TIMBER MERCHANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
30%

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.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 


 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

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. 

 
2.12

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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
T & T TIMBER MERCHANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company only enters into basic financial instrument 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, loans to related parties and investments in ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 15).


4.


Tangible fixed assets





Motor vehicles
Other fixed assets
Total

£
£
£



Cost 


At 1 November 2022
180,106
125,611
305,717


Additions
55,029
225
55,254



At 31 October 2023

235,135
125,836
360,971



Depreciation


At 1 November 2022
104,391
110,618
215,009


Charge for the year on owned assets
32,686
3,045
35,731



At 31 October 2023

137,077
113,663
250,740



Net book value



At 31 October 2023
98,058
12,173
110,231



At 31 October 2022
75,715
14,993
90,708

Page 6

 
T & T TIMBER MERCHANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
220,139
311,342

Other debtors
1,041
1,041

Prepayments
11,710
21,940

232,890
334,323



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
186,044
255,364

Amounts owed to group undertakings
398,243
332,472

Corporation tax
-
14,441

Other taxation and social security
8,458
18,247

Other creditors
5,006
-

Accruals
58,432
141,297

656,183
761,821



7.


Deferred taxation




2023
2022


£

£






At beginning of year
(22,677)
(22,687)


Charged to profit or loss
(4,869)
10



At end of year
(27,546)
(22,677)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
27,558
22,677

Pension surplus
(12)
-

27,546
22,677

Page 7

 
T & T TIMBER MERCHANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,613 (2022 - £2,871). Contributions totalling £131 (2022 - £Nil) were payable to the fund at the balance sheet date.


10.


Related party transactions

During the year, the company incurred rent and management charges of £50,000 (2022 - £135,000), from its parent undertaking.
The amount due to the parent undertaking at the year end was £398,243 (2022 - £332,472). 
During the year, the company operated a loan with a company with which it shares a director. The balance due to this company at the year end was £1,041 (2022 - £1,041). 


Page 8