Acorah Software Products - Accounts Production 14.6.300 false true 31 October 2022 1 November 2021 false true No description of principal activity 1 November 2022 31 October 2023 31 October 2023 12247030 Mr William Niven iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12247030 2022-10-31 12247030 2023-10-31 12247030 2022-11-01 2023-10-31 12247030 frs-core:CurrentFinancialInstruments 2023-10-31 12247030 frs-core:Non-currentFinancialInstruments 2023-10-31 12247030 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12247030 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 12247030 frs-bus:Micro-entities 2022-11-01 2023-10-31 12247030 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12247030 frs-bus:Director1 2022-11-01 2023-10-31 12247030 frs-bus:Director1 2022-10-31 12247030 frs-bus:Director1 2023-10-31 12247030 2021-10-31 12247030 2022-10-31 12247030 2021-11-01 2022-10-31 12247030 frs-core:CurrentFinancialInstruments 2022-10-31 12247030 frs-core:Non-currentFinancialInstruments 2022-10-31
Registered number: 12247030
First Class Timber Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Balance Sheet
Registered number: 12247030
2023 2022
£ £
Fixed assets 8,005 5,041
Current assets 113,207 144,075
Creditors: Amounts Falling Due Within One Year (72,584 ) (82,864 )
NET CURRENT ASSETS 40,623 61,211
TOTAL ASSETS LESS CURRENT LIABILITIES 48,628 66,252
Creditors: Amounts Falling After More Than One Year (47,528 ) (47,746 )
Accruals and deferred income (1,000 ) (100 )
NET ASSETS 100 18,406
CAPITAL AND RESERVES 100 18,406

Notes

1. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2022: 2)
2 2
2. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr William Niven - 6,910 - - 6,910
The above loan is unsecured, interest free and repayable on demand.
3. Performance statement from director for the year
During the financial year 2022-2023, the timber industry experienced a historic decline in timber prices, which had been highly elevated during the pandemic due to shortages and unpresented demand. This fall in the cost of timber resulted in stock acquired during the pandemic to be sold at a loss, thus resulting in disappointing profit for our financial year leaving the pandemic. However, with timber prices now stabilised at normal levels, we anticipate a more favourable business environment moving forward. We remain optimistic about the company’s future growth plans and believe that such extreme price volatility is unlikely to reoccur.
4. General Information
First Class Timber Ltd is a private company, limited by shares, incorporated in , registered number 12247030 . The registered office is 16 Elkington Road, Yelvertoft, Northampton, NN6 6LU.
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr William Niven
Director
9th August 2024