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REGISTERED NUMBER: NI009563 (Northern Ireland)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Dask Timber Products Limited

Dask Timber Products Limited (Registered number: NI009563)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Dask Timber Products Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr S D Clarke
Mr D J Clarke





SECRETARY: Mr D J Clarke





REGISTERED OFFICE: 80 Moss Road
Banbridge
Co. Down
BT32 3NZ





REGISTERED NUMBER: NI009563 (Northern Ireland)





ACCOUNTANTS: KGA Accountants LLP
Building 2
The Sidings
Antrim Road
Lisburn
Co. Antrim
BT28 3AJ

Dask Timber Products Limited (Registered number: NI009563)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,960 6,960
Tangible assets 5 646,581 647,793
653,541 654,753

CURRENT ASSETS
Stocks 264,150 247,582
Debtors 376,119 411,232
Cash at bank 37,251 267
677,520 659,081
CREDITORS
Amounts falling due within one year 588,558 489,525
NET CURRENT ASSETS 88,962 169,556
TOTAL ASSETS LESS CURRENT LIABILITIES 742,503 824,309

CREDITORS
Amounts falling due after more than one year (70,577 ) (121,647 )

PROVISIONS FOR LIABILITIES (71,664 ) (70,855 )
NET ASSETS 600,262 631,807

CAPITAL AND RESERVES
Called up share capital 6 114,000 114,000
Retained earnings 486,262 517,807
SHAREHOLDERS' FUNDS 600,262 631,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Dask Timber Products Limited (Registered number: NI009563)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:




Mr D J Clarke - Director



Mr S D Clarke - Director


Dask Timber Products Limited (Registered number: NI009563)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Dask Timber Products Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are prepared in sterling which is the functional currency of the entity and rounded to the nearest £.

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.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover 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 transaction can be measured reliably. This is usually on dispatch of the goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 - 2% on cost
Plant and machinery - 5% on cost
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


Dask Timber Products Limited (Registered number: NI009563)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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 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.

Foreign currencies
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 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 23 (2022 - 21 ) .

Dask Timber Products Limited (Registered number: NI009563)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 6,960
NET BOOK VALUE

At 31 December 2023 6,960
At 31 December 2022 6,960

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 1,557,119
Additions 37,759
Disposals (80,242 )
At 31 December 2023 1,514,636
DEPRECIATION
At 1 January 2023 909,326
Charge for year 32,605
Eliminated on disposal (73,876 )
At 31 December 2023 868,055
NET BOOK VALUE
At 31 December 2023 646,581
At 31 December 2022 647,793

Included in cost of land and buildings is freehold land of £ 253,741 (2022 - £ 253,741 ) which is not depreciated.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
114,000 Ordinary £1 114,000 114,000

Dask Timber Products Limited (Registered number: NI009563)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr S D Clarke
Balance outstanding at start of year 54,829 14,240
Amounts advanced 90,232 91,441
Amounts repaid (93,045 ) (50,852 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 52,016 54,829

Mr D J Clarke
Balance outstanding at start of year 12,710 11,453
Amounts advanced 64,053 28,234
Amounts repaid (95,004 ) (26,977 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (18,241 ) 12,710

The above directors loans have been charged interest at 2% and are repayable on demand.

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D J Clarke.