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REGISTERED NUMBER: 00717389 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

R G STONES (TIMBER) LTD

R G STONES (TIMBER) LTD (REGISTERED NUMBER: 00717389)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R G STONES (TIMBER) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: T Edwards
M A Wolfson
J B Perry
I N Wright



SECRETARY: M Wolfson



REGISTERED OFFICE: 25 Grosvenor Road
Wrexham
LL11 1BT



REGISTERED NUMBER: 00717389 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25, Grosvenor Road
Wrexham
LL11 1BT



BANKERS: National Westminster Bank plc
33, Lord Street
Wrexham
LL11 1LP

R G STONES (TIMBER) LTD (REGISTERED NUMBER: 00717389)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,108,150 2,316,590
Investments 5 2 2
2,108,152 2,316,592

CURRENT ASSETS
Debtors 6 10,078 56,318
Cash at bank 3,415,656 203,713
3,425,734 260,031
CREDITORS
Amounts falling due within one year 7 1,291,577 66,335
NET CURRENT ASSETS 2,134,157 193,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,242,309

2,510,288

CAPITAL AND RESERVES
Called up share capital 8 6,010 6,010
Retained earnings 4,236,299 2,504,278
SHAREHOLDERS' FUNDS 4,242,309 2,510,288

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th July 2024 and were signed on its behalf by:



T Edwards - Director


R G STONES (TIMBER) LTD (REGISTERED NUMBER: 00717389)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

R G Stones (Timber) Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 50 years
Plant and machinery - 10% - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

R G STONES (TIMBER) LTD (REGISTERED NUMBER: 00717389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1st April 2023 2,101,447 727,992 - 2,829,439
Additions 9,431 84,441 35,764 129,636
Disposals (274,147 ) (56,030 ) - (330,177 )
At 31st March 2024 1,836,731 756,403 35,764 2,628,898
DEPRECIATION
At 1st April 2023 104,316 408,533 - 512,849
Charge for year 24,585 38,180 1,164 63,929
Eliminated on disposal - (56,030 ) - (56,030 )
At 31st March 2024 128,901 390,683 1,164 520,748
NET BOOK VALUE
At 31st March 2024 1,707,830 365,720 34,600 2,108,150
At 31st March 2023 1,997,131 319,459 - 2,316,590

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1st April 2023
and 31st March 2024 2
NET BOOK VALUE
At 31st March 2024 2
At 31st March 2023 2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

R G Stones (Buildings) Limited
Registered office:
Nature of business: Manufacture of mobile buildings
%
Class of shares: holding
Equity Ordinary shares 100.00

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 240
Other debtors 6,710 18,241
V.A.T. 3,368 37,837
10,078 56,318

R G STONES (TIMBER) LTD (REGISTERED NUMBER: 00717389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 123 102
Amounts owed to group undertakings 992,248 54,190
Corporation tax 295,230 -
Social security and other taxes 421 488
Related Parties - 8,000
Accruals 3,555 3,555
1,291,577 66,335

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
6,010 Ordinary £1 6,010 6,010

9. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the
financial statements - -

10. RELATED PARTY DISCLOSURES

During the year the company acted as managing agent for certain properties owned by Birchwood Park Limited, and charged Birchwood Park £439 (2023 £775) for this service,the Company owed Birchwood Park £NIL (2023 £8,000) at the year end.

As part of the acquisition of the industrial units owned by Birchwood Park by RGS (Timber),- The Company" granted a Debenture to Birchwood to secure the unpaid amount due to it, this charge was satisfied in March 2023.

The company had a balance outstanding at the year end due to its subsidiary, R G Stones (Buildings) Limited, of £992,248 (2023 £54,190)

R G Stones (Buildings) Limited charged the company £165,573 (2023 £133,139) for costs incurred on its behalf and the company charged R G Stones (Buildings) Limited £180,000 (2023 £180,000 ) in respect of management charges,