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REGISTERED NUMBER: 02577948 (England and Wales)















Scan-UK Timber Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Scan-UK Timber Limited (Registered number: 02577948)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Scan-UK Timber Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr D M Bailey





SECRETARY: Mrs C R Bailey





REGISTERED OFFICE: Wilson House
48 Brooklyn Road
Seaford
East Sussex
BN25 2DX





REGISTERED NUMBER: 02577948 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Scan-UK Timber Limited (Registered number: 02577948)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,575 8,713
Investments 5 500 500
7,075 9,213

CURRENT ASSETS
Debtors 6 108,880 108,750
Investments 7 21,735 21,735
Cash at bank 67,884 119,071
198,499 249,556
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

8

26,793

24,502
NET CURRENT ASSETS 171,706 225,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,781

234,267

PROVISIONS FOR LIABILITIES 1,644 1,655
NET ASSETS 177,137 232,612

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Fair value reserve 10 (265 ) (265 )
Retained earnings 176,402 231,877
SHAREHOLDERS' FUNDS 177,137 232,612

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 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.

Scan-UK Timber Limited (Registered number: 02577948)

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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2024 and were signed by:





Mr D M Bailey - Director


Scan-UK Timber Limited (Registered number: 02577948)

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

1. STATUTORY INFORMATION

Scan-UK 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.

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 represents revenue, net of value added tax, in respect of the provisions of goods and services that it is in business to provide and is recognised when the company obtains, through performance under contract, the right to consideration for those goods and services.

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 - 10% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investments in associates
Investment in associate undertakings are recognised at cost less any provision for permanent diminution in value.

Financial instruments
Current asset investments are measured at fair value through profit or loss. The fair value is determined by reference to the current market price at the year end date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Scan-UK Timber Limited (Registered number: 02577948)

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

2. ACCOUNTING POLICIES - continued
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.

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 contributed to 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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 30,000 13,506 18,225 2,497 64,228
Additions - 198 - - 198
Disposals - (169 ) - - (169 )
At 31 December 2023 30,000 13,535 18,225 2,497 64,257
DEPRECIATION
At 1 January 2023 30,000 13,345 10,536 1,634 55,515
Charge for year - 79 1,922 332 2,333
Eliminated on disposal - (166 ) - - (166 )
At 31 December 2023 30,000 13,258 12,458 1,966 57,682
NET BOOK VALUE
At 31 December 2023 - 277 5,767 531 6,575
At 31 December 2022 - 161 7,689 863 8,713

Scan-UK Timber Limited (Registered number: 02577948)

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

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 January 2023
and 31 December 2023 500
NET BOOK VALUE
At 31 December 2023 500
At 31 December 2022 500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 108,880 108,750

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Other 21,735 21,735

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,110 1,727
Trade creditors 754 489
Taxation and social security 18,366 17,187
Other creditors 1,563 5,099
26,793 24,502

9. CALLED UP SHARE CAPITAL

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

Scan-UK Timber Limited (Registered number: 02577948)

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

10. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 (265 )

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company made advances to the director totalling £5,328 (2022 - £71) and received repayments totalling £1,629 (2022 - £nil). At the balance sheet date the company owed the director £639 (2022 - £4,338). This loan is unsecured, interest free and repayable on demand.

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £106,803 (2022 - £106,280) from a subsidiary company.

Interest of 5% per annum was earned on the capital element of this balance, totalling £5,000 (2022 - £4,753) for the year.

During the year the company paid dividends totalling £105,500 (2022 - £114,000) to the director.