Company registration number 11297418 (England and Wales)
Timber Specialists (Holdings) Limited
Unaudited financial statements
For the year ended 31 March 2024
Timber Specialists (Holdings) Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Timber Specialists (Holdings) Limited
Statement of financial position
As at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
3,459,528
3,459,528
Capital and reserves
Called up share capital
4
15,000
15,000
Share premium account
2,385,000
2,385,000
Profit and loss reserves
1,059,528
1,059,528
Total equity
3,459,528
3,459,528
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 July 2024 and are signed on its behalf by:
Mr K J Smith
Director
Company registration number 11297418 (England and Wales)
Timber Specialists (Holdings) Limited
Notes to the financial statements
For the year ended 31 March 2024
- 2 -
1
Accounting policies
Company information
Timber Specialists (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4, Littleroyd Business Park, Queens Mill Road, Huddersfield, West Yorkshire, United Kingdom, HD1 3RR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average number of persons employed by the company during the year was Nil (2023 - Nil).
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
3,459,528
3,459,528
Timber Specialists (Holdings) Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
- 3 -
4
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary of £1 each
5,000
5,000
5,000
5,000
B Ordinary of £1 each
5,000
5,000
5,000
5,000
C Ordinary of £1 each
5,000
5,000
5,000
5,000
15,000
15,000
15,000
15,000
5
Related party transactions
During the year, total dividends of £680,000 (2023 - £720,000) were paid to directors and their close family members.