Acorah Software Products - Accounts Production 14.6.300 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 06755258 Mr Gavin Brown Mrs Nicola Brown Mrs Laura Morton true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06755258 2022-11-30 06755258 2023-11-30 06755258 2022-12-01 2023-11-30 06755258 frs-core:CurrentFinancialInstruments 2023-11-30 06755258 frs-core:Non-currentFinancialInstruments 2023-11-30 06755258 frs-core:BetweenOneFiveYears 2023-11-30 06755258 frs-core:ComputerEquipment 2023-11-30 06755258 frs-core:ComputerEquipment 2022-12-01 2023-11-30 06755258 frs-core:ComputerEquipment 2022-11-30 06755258 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-01 2023-11-30 06755258 frs-core:FurnitureFittings 2023-11-30 06755258 frs-core:FurnitureFittings 2022-12-01 2023-11-30 06755258 frs-core:FurnitureFittings 2022-11-30 06755258 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-30 06755258 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 06755258 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-30 06755258 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 06755258 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 06755258 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-30 06755258 frs-core:OtherResidualIntangibleAssets 2023-11-30 06755258 frs-core:OtherResidualIntangibleAssets 2022-11-30 06755258 frs-core:PlantMachinery 2023-11-30 06755258 frs-core:PlantMachinery 2022-12-01 2023-11-30 06755258 frs-core:PlantMachinery 2022-11-30 06755258 frs-core:WithinOneYear 2023-11-30 06755258 frs-core:ShareCapital 2023-11-30 06755258 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 06755258 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 06755258 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 06755258 frs-bus:SmallEntities 2022-12-01 2023-11-30 06755258 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 06755258 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 06755258 1 2022-12-01 2023-11-30 06755258 frs-bus:Director1 2022-12-01 2023-11-30 06755258 frs-bus:Director2 2022-12-01 2023-11-30 06755258 frs-bus:CompanySecretary1 2022-12-01 2023-11-30 06755258 frs-countries:EnglandWales 2022-12-01 2023-11-30 06755258 2021-11-30 06755258 2022-11-30 06755258 2021-12-01 2022-11-30 06755258 frs-core:CurrentFinancialInstruments 2022-11-30 06755258 frs-core:Non-currentFinancialInstruments 2022-11-30 06755258 frs-core:BetweenOneFiveYears 2022-11-30 06755258 frs-core:WithinOneYear 2022-11-30 06755258 frs-core:ShareCapital 2022-11-30 06755258 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 06755258
Think Timber Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06755258
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 101,315 84,659
101,315 84,659
CURRENT ASSETS
Stocks 6 1,237,080 1,487,609
Debtors 7 1,599,703 1,746,729
Cash at bank and in hand 1,332,881 849,055
4,169,664 4,083,393
Creditors: Amounts Falling Due Within One Year 8 (2,601,351 ) (2,546,764 )
NET CURRENT ASSETS (LIABILITIES) 1,568,313 1,536,629
TOTAL ASSETS LESS CURRENT LIABILITIES 1,669,628 1,621,288
Creditors: Amounts Falling Due After More Than One Year 9 - (28,575 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (21,526 ) (13,730 )
NET ASSETS 1,648,102 1,578,983
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 1,647,102 1,577,983
SHAREHOLDERS' FUNDS 1,648,102 1,578,983
Page 1
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gavin Brown
Director
13 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Think Timber Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06755258 . The registered office is 62 Brick Kiln Lane, Parkhouse Industrial Estate West, Newcastle-under-Lyme, Staffordshire, ST5 7AS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets is the Company Website. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 15% Reducing Balance
Plant & Machinery 15% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 25% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 8)
9 8
4. Intangible Assets
Other
£
Cost
As at 1 December 2022 3,000
As at 30 November 2023 3,000
Amortisation
As at 1 December 2022 3,000
As at 30 November 2023 3,000
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2022 - 17,740 63,645 39,748
Additions - - 17,911 7,991
As at 30 November 2023 - 17,740 81,556 47,739
Depreciation
As at 1 December 2022 - 7,211 24,408 15,339
Provided during the period - 1,579 7,603 4,161
As at 30 November 2023 - 8,790 32,011 19,500
Net Book Value
As at 30 November 2023 - 8,950 49,545 28,239
As at 1 December 2022 - 10,529 39,237 24,409
Page 4
Page 5
Computer Equipment Total
£ £
Cost
As at 1 December 2022 27,584 148,717
Additions 8,788 34,690
As at 30 November 2023 36,372 183,407
Depreciation
As at 1 December 2022 17,100 64,058
Provided during the period 4,691 18,034
As at 30 November 2023 21,791 82,092
Net Book Value
As at 30 November 2023 14,581 101,315
As at 1 December 2022 10,484 84,659
6. Stocks
2023 2022
£ £
Materials 1,237,080 1,487,609
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,436,906 1,728,910
Prepayments and accrued income 53,624 17,359
Other debtors 12,250 -
Factored debts outstanding 96,861 460
Net wages 62 -
1,599,703 1,746,729
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 545,812 616,596
Bank loans and overdrafts - 10,086
Corporation tax 105,346 318,359
VAT 216,760 594,682
Other creditors 13,263 6,125
Accruals and deferred income 32,371 42,731
Directors' loan accounts 519 383
Amounts owed to group undertakings 1,687,280 957,802
2,601,351 2,546,764
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 28,575
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 21,526 13,730
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 19,995 24,148
Later than one year and not later than five years 9,790 33,521
29,785 57,669
13. Related Party Transactions
Included within creditors due within one year is a balance of £1,687,280 (2022: £957,802) due to parent company.
Dividends paid to parent company during the year were £932,671 (2022: £575,690).
Rental payments to parent company for the use of premises were £25,000 (2022: £25,000).
Management payments to parent company were £100,000 (2022: £100,000).
14. Ultimate Parent Undertaking and Controlling Party
The company's ultimate parent undertaking is Gavin Brown Holdings Limited a company incorporated in England & Wales with a registered office of 62 Brick Kiln Way, Parkhouse Industrial Estate West, Newcastle, Staffordshire, ST5 7AS. The ultimate controlling parties are Mr and Mrs Brown. 
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