IRIS Accounts Productionv24.1.4.3305473995Board of Directors1.4.2331.3.2431.3.24falsetruefalsefalsefalsetruefalseOrdinary (subdivided into four different classes)1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054739952023-03-31054739952024-03-31054739952023-04-012024-03-31054739952022-03-31054739952022-04-012023-03-31054739952023-03-3105473995ns15:EnglandWales2023-04-012024-03-3105473995ns14:PoundSterling2023-04-012024-03-3105473995ns10:Director12023-04-012024-03-3105473995ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105473995ns10:SmallEntities2023-04-012024-03-3105473995ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3105473995ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105473995ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105473995ns10:AbridgedAccounts2023-04-012024-03-310547399512023-04-012024-03-3105473995ns10:OrdinaryShareClass12023-04-012024-03-3105473995ns10:Director22023-04-012024-03-3105473995ns10:Director32023-04-012024-03-3105473995ns10:CompanySecretary12023-04-012024-03-3105473995ns10:RegisteredOffice2023-04-012024-03-3105473995ns5:CurrentFinancialInstruments2024-03-3105473995ns5:CurrentFinancialInstruments2023-03-3105473995ns5:Non-currentFinancialInstruments2024-03-3105473995ns5:Non-currentFinancialInstruments2023-03-3105473995ns5:ShareCapital2024-03-3105473995ns5:ShareCapital2023-03-3105473995ns5:SharePremium2024-03-3105473995ns5:SharePremium2023-03-3105473995ns5:CapitalRedemptionReserve2024-03-3105473995ns5:CapitalRedemptionReserve2023-03-3105473995ns5:RetainedEarningsAccumulatedLosses2024-03-3105473995ns5:RetainedEarningsAccumulatedLosses2023-03-3105473995ns5:NetGoodwill2023-04-012024-03-3105473995ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3105473995ns5:PatentsTrademarksLicencesConcessionsSimilar2023-04-012024-03-3105473995ns5:ComputerSoftware2023-04-012024-03-3105473995ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3105473995ns5:PlantMachinery2023-04-012024-03-3105473995ns5:MotorVehicles2023-04-012024-03-3105473995ns5:ComputerEquipment2023-04-012024-03-3105473995ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3105473995ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105473995ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3105473995ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3105473995ns5:HirePurchaseContracts2024-03-3105473995ns5:HirePurchaseContracts2023-03-3105473995ns5:Secured2024-03-3105473995ns5:Secured2023-03-3105473995ns10:OrdinaryShareClass12024-03-3105473995ns5:RetainedEarningsAccumulatedLosses2023-03-3105473995ns5:SharePremium2023-03-3105473995ns5:CapitalRedemptionReserve2023-03-3105473995ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31

REGISTERED NUMBER: 05473995 (England and Wales)
















Abridged Unaudited Financial Statements for the Year Ended 31 March 2024

for


Certainly Wood Limited


Certainly Wood Limited (Registered number: 05473995)


Contents of the Financial Statements

for the year ended 31 March 2024











Page



Company Information  

1



Abridged Balance Sheet  

2



Notes to the Financial Statements  

4




Certainly Wood Limited


Company Information

for the year ended 31 March 2024









Directors:

S G Snell


N H Snell


R A da Cunha







Secretary:

R A da Cunha







Registered office:

Lower Lulham


Madley


Hereford


Herefordshire


HR2 9JJ







Registered number:

05473995 (England and Wales)







Accountants:

Acre Accountancy Limited


Unit 2 Foley Works


Foley Industrial Estate


Hereford


Herefordshire


HR1 2SF


Certainly Wood Limited (Registered number: 05473995)


Abridged Balance Sheet

31 March 2024



2024


2023


Notes

£   

£   


FIXED ASSETS

Intangible assets

5

98,421


94,116



Tangible assets

6

1,461,007


1,408,144



1,559,428


1,502,260




CURRENT ASSETS

Stocks

579,305


371,863



Debtors

412,962


345,494



Cash at bank and in hand

547,592


760,343



1,539,859


1,477,700



CREDITORS

Amounts falling due within one year

(622,152

)

(543,773

)


NET CURRENT ASSETS

917,707


933,927



TOTAL ASSETS LESS CURRENT

LIABILITIES

2,477,135


2,436,187




CREDITORS

Amounts falling due after more than one

year

(146,359

)

(185,878

)



PROVISIONS FOR LIABILITIES

9

(362,321

)

(325,632

)



ACCRUALS AND DEFERRED INCOME

(197,681

)

(219,646

)


NET ASSETS

1,770,774


1,705,031




CAPITAL AND RESERVES

Called up share capital

10

26,075


26,075



Share premium

11

142,406


142,406



Capital redemption reserve

11

6,519


6,519



Retained earnings

11

1,595,774


1,530,031



SHAREHOLDERS' FUNDS

1,770,774


1,705,031




Certainly Wood Limited (Registered number: 05473995)


Abridged Balance Sheet - continued

31 March 2024



The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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


All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.  


In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2024 and were signed on its behalf by:






S G Snell - Director



Certainly Wood Limited (Registered number: 05473995)


Notes to the Financial Statements

for the year ended 31 March 2024



1.

STATUTORY INFORMATION



Certainly Wood 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.


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.



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 2005, is being amortised evenly over its estimated useful life of twenty 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 ten years.



Website development is being amortised evenly over its estimated useful life of ten years.



Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Land and buildings

-

10% and 15% reducing balance


Plant and machinery

-

10% - 33% on reducing balance


Motor vehicles

-

25% on reducing balance


Office equipment

-

33% 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.


Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


Certainly Wood Limited (Registered number: 05473995)


Notes to the Financial Statements - continued

for the year ended 31 March 2024



3.

ACCOUNTING POLICIES - continued


Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Government grants


Government grants are classified as either capital or revenue. Capital grants are credited to a deferral account and released to the profit and loss account at the same rate as the related asset is depreciated.



Grants of a revenue nature are recognised using the accrual model so that the grant income, that represents compensation for past expenditure or losses, is recognised in the same period as it becomes receivable.



The COVID-19 pandemic prompted a number of revenue grants that are intended to subsidise expenditure and losses incurred. These have been recognised as other operating income.


4.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 16 (2023 - 15 ) .


Certainly Wood Limited (Registered number: 05473995)


Notes to the Financial Statements - continued

for the year ended 31 March 2024



5.

INTANGIBLE FIXED ASSETS


Totals

£   



Cost


At 1 April 2023

164,266




Additions

15,347




At 31 March 2024

179,613




Amortisation


At 1 April 2023

70,150




Amortisation for year

11,042




At 31 March 2024

81,192




Net book value



At 31 March 2024

98,421




At 31 March 2023

94,116




6.

TANGIBLE FIXED ASSETS


Totals

£   



Cost


At 1 April 2023

2,949,502




Additions

257,765




Disposals

(381

)



At 31 March 2024

3,206,886




Depreciation


At 1 April 2023

1,541,358




Charge for year

204,521




At 31 March 2024

1,745,879




Net book value


At 31 March 2024

1,461,007




At 31 March 2023

1,408,144




7.

LEASING AGREEMENTS



Minimum lease payments under hire purchase fall due as follows:


2024

2023


£   

£   



Net obligations repayable:


Within one year

12,775


11,998




Between one and five years

25,438


38,213



38,213


50,211




Certainly Wood Limited (Registered number: 05473995)


Notes to the Financial Statements - continued

for the year ended 31 March 2024



8.

SECURED DEBTS



The following secured debts are included within creditors:


2024

2023


£   

£   



Bank loans

18,114


89,091





There is also a debenture including a Fixed Equitable Charge over all present and future freehold and leasehold property and Fixed and Floating Charges over all assets and undertaking both present and future to be given by Certainly Wood Limited.



Bank loans and overdrafts are secured on the personal assets of Mr S G Snell and by personal guarantee for £650,000. In addition Mr N H Snell has given a personal guarantee limited to £100,000.



In addition to the above, the directors have provided various sums that total £120,922 to secure bank borrowings.


9.

PROVISIONS FOR LIABILITIES


Following the enacted increase in Corporation Tax rate to 25% from 1 April 2023, the company has provided additional deferred tax on accelerated capital allowances as it is expected that any reversal of this provision will be at a time when the increased rates will apply.

10.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2024

2023



value:

£   

£   



26,075

Ordinary (subdivided into four



different classes)

£1

26,075


26,075





The ordinary shares are subdivided into four classes that carry full voting rights but can receive different levels of dividend. The classes of ordinary share are split as follows:-




Ordinary "A"


11,408




Ordinary "B"


11,408




Ordinary "C"


-




Ordinary "D"


3,259




11.

RESERVES


Capital



Retained


Share


redemption



earnings


premium


reserve


Totals

£   

£   

£   

£   




At 1 April 2023

1,530,031


142,406


6,519


1,678,956




Profit for the year

523,250


523,250




Dividends

(457,507

)

(457,507

)



At 31 March 2024

1,595,774


142,406


6,519


1,744,699