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REGISTERED NUMBER: 13209856 (England and Wales)











Ringwood Timber Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Ringwood Timber Limited (Registered number: 13209856)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Ringwood Timber Limited

Company Information
for the Year Ended 31 March 2024







Director: P K Booth





Registered office: Higgins Lane
Burscough Industrial Estate
Burscough
Lancashire
L40 8JS





Registered number: 13209856 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Ringwood Timber Limited (Registered number: 13209856)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
Fixed assets
Investment property 4 1,413,817 1,413,817

Current assets
Debtors 5 90,000 90,000
Cash at bank 18,955 39,190
108,955 129,190
Creditors
Amounts falling due within one year 6 (505,732 ) (372,244 )
Net current liabilities (396,777 ) (243,054 )
Total assets less current liabilities 1,017,040 1,170,763

Creditors
Amounts falling due after more than one
year

7

(885,000

)

(1,095,000

)
Net assets 132,040 75,763

Capital and reserves
Called up share capital 100 100
Retained earnings 131,940 75,663
132,040 75,763

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

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

The director acknowledges his 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.

Ringwood Timber Limited (Registered number: 13209856)

Balance Sheet - continued
31 March 2024


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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:





P K Booth - Director


Ringwood Timber Limited (Registered number: 13209856)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

Ringwood Timber 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.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Going concern
The company meets its day to day requirements through a loan from the director. The director has confirmed that repayment of the loan will not be made until sufficient funds are available. The financial statements have therefore been prepared on a going concern basis and do not contain any adjustments that might have been necessary if the loan were not to continue at an appropriate level.

3. Employees and directors

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

Ringwood Timber Limited (Registered number: 13209856)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. Investment property
Total
£   
Fair value
At 1 April 2023
and 31 March 2024 1,413,817
Net book value
At 31 March 2024 1,413,817
At 31 March 2023 1,413,817

5. Debtors: amounts falling due within one year
31.3.24 31.3.23
£    £   
Other debtors 90,000 90,000

6. Creditors: amounts falling due within one year
31.3.24 31.3.23
£    £   
Taxation and social security 18,590 11,283
Other creditors 487,142 360,961
505,732 372,244

7. Creditors: amounts falling due after more than one year
31.3.24 31.3.23
£    £   
Other creditors 885,000 1,095,000

8. Related party disclosures

Mr P K Booth is a director and shareholder of Firwood Timber & Plywood Co. Limited.

A loan of £885,000 (2023 £1,095,000) was outstanding to Firwood Timber & Plywood Co. Limited at the year end and interest amounting to £49,062 (2023 £58,688) was incurred on the loan during the year, at normal commercial terms.
Other expenses were paid on the company's behalf by Firwood Timber & Plywood Co. Limited during the year and the total amount owing by the company at the balance sheet date was £1,269,962 (2003 £1,353,841).

Mr P K Booth is a director and shareholder of Firwood Properties (North West) Limited.

At balance sheet date, a loan amounting to £90,000 (2023 £90,000) is repayable to Firwood Properties (North West) Limited. The loan is unsecured, interest free and repayable on demand.