2023-04-012024-03-312024-03-31false03834491U.K. HARDWOODS LIMITED2024-08-16iso4217:GBPxbrli:pure038344912023-04-01038344912024-03-31038344912023-04-012024-03-31038344912022-04-01038344912023-03-31038344912022-04-012023-03-3103834491bus:SmallEntities2023-04-012024-03-3103834491bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3103834491bus:FullAccounts2023-04-012024-03-3103834491bus:PrivateLimitedCompanyLtd2023-04-012024-03-3103834491core:WithinOneYear2024-03-3103834491core:AfterOneYear2024-03-3103834491core:WithinOneYear2023-03-3103834491core:AfterOneYear2023-03-3103834491core:ShareCapital2024-03-3103834491core:SharePremium2024-03-3103834491core:RevaluationReserve2024-03-3103834491core:OtherReservesSubtotal2024-03-3103834491core:RetainedEarningsAccumulatedLosses2024-03-3103834491core:ShareCapital2023-03-3103834491core:SharePremium2023-03-3103834491core:RevaluationReserve2023-03-3103834491core:OtherReservesSubtotal2023-03-3103834491core:RetainedEarningsAccumulatedLosses2023-03-3103834491core:LandBuildings2024-03-3103834491core:PlantMachinery2024-03-3103834491core:Vehicles2024-03-3103834491core:FurnitureFittings2024-03-3103834491core:OfficeEquipment2024-03-3103834491core:NetGoodwill2024-03-3103834491core:IntangibleAssetsOtherThanGoodwill2024-03-3103834491core:ListedExchangeTraded2024-03-3103834491core:UnlistedNon-exchangeTraded2024-03-3103834491core:LandBuildings2023-03-3103834491core:PlantMachinery2023-03-3103834491core:Vehicles2023-03-3103834491core:FurnitureFittings2023-03-3103834491core:OfficeEquipment2023-03-3103834491core:NetGoodwill2023-03-3103834491core:IntangibleAssetsOtherThanGoodwill2023-03-3103834491core:ListedExchangeTraded2023-03-3103834491core:UnlistedNon-exchangeTraded2023-03-3103834491core:LandBuildings2023-04-012024-03-3103834491core:PlantMachinery2023-04-012024-03-3103834491core:Vehicles2023-04-012024-03-3103834491core:FurnitureFittings2023-04-012024-03-3103834491core:OfficeEquipment2023-04-012024-03-3103834491core:NetGoodwill2023-04-012024-03-3103834491core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3103834491core:ListedExchangeTraded2023-04-012024-03-3103834491core:UnlistedNon-exchangeTraded2023-04-012024-03-3103834491core:MoreThanFiveYears2023-04-012024-03-3103834491core:Non-currentFinancialInstruments2024-03-3103834491core:Non-currentFinancialInstruments2023-03-3103834491dpl:CostSales2023-04-012024-03-3103834491dpl:DistributionCosts2023-04-012024-03-3103834491core:LandBuildings2023-04-012024-03-3103834491core:PlantMachinery2023-04-012024-03-3103834491core:Vehicles2023-04-012024-03-3103834491core:FurnitureFittings2023-04-012024-03-3103834491core:OfficeEquipment2023-04-012024-03-3103834491dpl:AdministrativeExpenses2023-04-012024-03-3103834491core:NetGoodwill2023-04-012024-03-3103834491core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3103834491dpl:GroupUndertakings2023-04-012024-03-3103834491dpl:ParticipatingInterests2023-04-012024-03-3103834491dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3103834491core:ListedExchangeTraded2023-04-012024-03-3103834491dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3103834491core:UnlistedNon-exchangeTraded2023-04-012024-03-3103834491dpl:CostSales2022-04-012023-03-3103834491dpl:DistributionCosts2022-04-012023-03-3103834491core:LandBuildings2022-04-012023-03-3103834491core:PlantMachinery2022-04-012023-03-3103834491core:Vehicles2022-04-012023-03-3103834491core:FurnitureFittings2022-04-012023-03-3103834491core:OfficeEquipment2022-04-012023-03-3103834491dpl:AdministrativeExpenses2022-04-012023-03-3103834491core:NetGoodwill2022-04-012023-03-3103834491core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3103834491dpl:GroupUndertakings2022-04-012023-03-3103834491dpl:ParticipatingInterests2022-04-012023-03-3103834491dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3103834491core:ListedExchangeTraded2022-04-012023-03-3103834491dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3103834491core:UnlistedNon-exchangeTraded2022-04-012023-03-3103834491core:NetGoodwill2024-03-3103834491core:IntangibleAssetsOtherThanGoodwill2024-03-3103834491core:LandBuildings2024-03-3103834491core:PlantMachinery2024-03-3103834491core:Vehicles2024-03-3103834491core:FurnitureFittings2024-03-3103834491core:OfficeEquipment2024-03-3103834491core:AfterOneYear2024-03-3103834491core:WithinOneYear2024-03-3103834491core:ListedExchangeTraded2024-03-3103834491core:UnlistedNon-exchangeTraded2024-03-3103834491core:ShareCapital2024-03-3103834491core:SharePremium2024-03-3103834491core:RevaluationReserve2024-03-3103834491core:OtherReservesSubtotal2024-03-3103834491core:RetainedEarningsAccumulatedLosses2024-03-3103834491core:NetGoodwill2023-03-3103834491core:IntangibleAssetsOtherThanGoodwill2023-03-3103834491core:LandBuildings2023-03-3103834491core:PlantMachinery2023-03-3103834491core:Vehicles2023-03-3103834491core:FurnitureFittings2023-03-3103834491core:OfficeEquipment2023-03-3103834491core:AfterOneYear2023-03-3103834491core:WithinOneYear2023-03-3103834491core:ListedExch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U.K. HARDWOODS LIMITED

Registered Number
03834491
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

U.K. HARDWOODS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Jonathy Bedford
Polly Bedford
Steven Bedford
Thomas Bedford

Company Secretary

Jonathy Bedford

Registered Address

Wade Mill
Molland
South Molton
EX36 3NL

Registered Number

03834491 (England and Wales)
U.K. HARDWOODS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4867,182414,066
867,182414,066
Current assets
Stocks5214,813251,063
Debtors37,8336,144
Cash at bank and on hand16,70313,260
269,349270,467
Creditors amounts falling due within one year6(446,298)(354,287)
Net current assets (liabilities)(176,949)(83,820)
Total assets less current liabilities690,233330,246
Creditors amounts falling due after one year7(325,571)(58,794)
Provisions for liabilities9(135,576)(52,688)
Net assets229,086218,764
Capital and reserves
Called up share capital100100
Profit and loss account228,986218,664
Shareholders' funds229,086218,764
The financial statements were approved and authorised for issue by the Board of Directors on 16 August 2024, and are signed on its behalf by:
Thomas Bedford
Director
Registered Company No. 03834491
U.K. HARDWOODS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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 and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 20% Straight line Combined other intangible assets - 5% Straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings3-
Plant and machinery-10
Fixtures and fittings15-
Vehicles-5
Office Equipment15-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year44
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 April 2330,3514,76935,120
At 31 March 2430,3514,76935,120
Amortisation and impairment
At 01 April 2330,3514,76935,120
At 31 March 2430,3514,76935,120
Net book value
At 31 March 24---
At 31 March 23---
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 April 23216,245296,8137,10583,636603,799
Additions-490,8515,830172496,853
Disposals--(7,105)-(7,105)
At 31 March 24216,245787,6645,83083,8081,093,547
Depreciation and impairment
At 01 April 2312,547151,99714225,047189,733
Charge for year6,95120,3471,9838,79638,077
On disposals--(1,445)-(1,445)
At 31 March 2419,498172,34468033,843226,365
Net book value
At 31 March 24196,747615,3205,15049,965867,182
At 31 March 23203,698144,8166,96358,589414,066
5.Stocks

2024

2023

££
Raw materials and consumables214,813251,063
Total214,813251,063
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables31,37054,653
Bank borrowings and overdrafts4,72525,256
Taxation and social security3,98414,484
Finance lease and HP contracts98,019-
Other creditors300,039256,894
Accrued liabilities and deferred income8,1613,000
Total446,298354,287
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts24,4148,609
Other creditors301,15750,185
Total325,57158,794
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts301,15750,185
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)135,57652,688
Total135,57652,688