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REGISTERED NUMBER: 01798531 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SARUM HARDWOOD STRUCTURES LIMITED

SARUM HARDWOOD STRUCTURES LIMITED (REGISTERED NUMBER: 01798531)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SARUM HARDWOOD STRUCTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr E C Dekker
Groot Lemmer BV





SECRETARY: M J P Dodson





REGISTERED OFFICE: Unit 1B
Chilbolton Down Farm
Stockbridge
Hampshire
SO20 6BU





REGISTERED NUMBER: 01798531 (England and Wales)





AUDITORS: Rothmans Audit LLP
Chartered Accountants & Statutory Auditors
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN

SARUM HARDWOOD STRUCTURES LIMITED (REGISTERED NUMBER: 01798531)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,880 3,823

CURRENT ASSETS
Stocks 313,111 292,491
Debtors 5 468,757 504,708
Cash at bank and in hand 32,954 12,484
814,822 809,683
CREDITORS
Amounts falling due within one year 6 206,472 197,116
NET CURRENT ASSETS 608,350 612,567
TOTAL ASSETS LESS CURRENT
LIABILITIES

616,230

616,390

CAPITAL AND RESERVES
Called up share capital 255,000 255,000
Retained earnings 361,230 361,390
SHAREHOLDERS' FUNDS 616,230 616,390

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2024 and were signed on its behalf by:





Mr E C Dekker - Director


SARUM HARDWOOD STRUCTURES LIMITED (REGISTERED NUMBER: 01798531)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Sarum Hardwood Structures 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

The most significant estimates in the accounts relate to the calculation of work in progress and to the estimated useful lives of fixed assets.

Turnover
Turnover is the amount derived from ordinary activities, which relate to the design, supply and installation of hardwood bridges and related structures and the provision of mats for temporary access roads and working bases. Turnover is stated after trade discounts, other sales taxes and net of Value Added Tax.

Turnover relating to mat sales is recognised when the mats are delivered to the customer.

Turnover relating to the hire of the mats is recognised in the period to which it relates.

Turnover relating to the bridges division represents the value of work done in the year. 3% of the contract value is recognised when an order is confirmed. For supply only contracts the remaining revenue is recognised on delivery of the bridge. For supply and fit contracts revenue is recognised by reference to the stage of completion from the point at which installation commences.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - the term of the lease
Plant and machinery - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost includes all direct expenditure.

The majority of bulk stock items purchased are available for both hire and sale and it is not always possible to identify if they should be treated as stock or fixed assets. It is therefore the Company's policy to treat all bulk items which cannot be individually identified as stock.

With regard to used mats it is the company's policy to write these down periodically to take into account their deterioration and the effect this has on their net realisable value.

SARUM HARDWOOD STRUCTURES LIMITED (REGISTERED NUMBER: 01798531)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, 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. The company only enters into basic financial instrument transactions.

Recognition and measurement
Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SARUM HARDWOOD STRUCTURES LIMITED (REGISTERED NUMBER: 01798531)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 January 2023 67,472 64,583 132,055
Additions - 6,247 6,247
At 31 December 2023 67,472 70,830 138,302
DEPRECIATION
At 1 January 2023 67,472 60,760 128,232
Charge for year - 2,190 2,190
At 31 December 2023 67,472 62,950 130,422
NET BOOK VALUE
At 31 December 2023 - 7,880 7,880
At 31 December 2022 - 3,823 3,823

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 371,815 479,211
Amounts owed by group undertakings 61,699 -
Amounts recoverable on contract 18,574 10,548
Other debtors 16,669 14,949
468,757 504,708

SARUM HARDWOOD STRUCTURES LIMITED (REGISTERED NUMBER: 01798531)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 56,369 39,428
Amounts owed to group undertakings - 26,844
Taxation and social security 107,636 83,393
Other creditors 42,467 47,451
206,472 197,116

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 24,906 16,842
Between one and five years 48,998 16,827
73,904 33,669

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Susan Sullivan FCA (Senior Statutory Auditor)
for and on behalf of Rothmans Audit LLP

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE PARENT COMPANY

The ultimate parent company of Sarum Hardwood Structures Limited is De Zeven Schepen B.V., a
company incorporated in the Netherlands which is under the control of Mr E C Dekker. Copies of the
consolidated accounts may be obtained from the company's immediate parent company, also
incorporated in the Netherlands; Groot Lemmer B.V., Innovatielaan 9, 8447 SN, Heerenveen,
Netherlands.