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REGISTERED NUMBER: 06005661 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Rainford Timber Co Ltd

Rainford Timber Co Ltd (Registered number: 06005661)






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


Rainford Timber Co Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J J Dorricott
T Wilcock





REGISTERED OFFICE: Water Street
Bamber Bridge
Preston
Lancashire
PR5 6QH





REGISTERED NUMBER: 06005661 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Rainford Timber Co Ltd (Registered number: 06005661)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,837 251,024

CURRENT ASSETS
Debtors 5 1,054,801 688,732
Cash at bank 691,929 680,062
1,746,730 1,368,794
CREDITORS
Amounts falling due within one year 6 620,734 322,165
NET CURRENT ASSETS 1,125,996 1,046,629
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,217,833

1,297,653

PROVISIONS FOR LIABILITIES 16,600 45,176
NET ASSETS 1,201,233 1,252,477

CAPITAL AND RESERVES
Called up share capital 55 55
Capital redemption reserve 45 45
Retained earnings 1,201,133 1,252,377
1,201,233 1,252,477

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.

Rainford Timber Co Ltd (Registered number: 06005661)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:





T Wilcock - Director


Rainford Timber Co Ltd (Registered number: 06005661)

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

1. STATUTORY INFORMATION

Rainford Timber Co 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.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received for the supply and installation of timber buildings and supply of structural timber components. Turnover is recognised when the work is completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Financial instruments
Directors loans, trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 and 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.


Rainford Timber Co Ltd (Registered number: 06005661)

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.

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 31 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 494,364
Additions 31,736
Disposals (170,000 )
At 31 December 2023 356,100
DEPRECIATION
At 1 January 2023 243,340
Charge for year 58,833
Eliminated on disposal (37,910 )
At 31 December 2023 264,263
NET BOOK VALUE
At 31 December 2023 91,837
At 31 December 2022 251,024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 719,238 296,817
Amounts recoverable on contract 259,935 245,273
Other debtors 75,628 146,642
1,054,801 688,732

Rainford Timber Co Ltd (Registered number: 06005661)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 135,044 134,211
Taxation and social security 131,911 67,292
Other creditors 353,779 120,662
620,734 322,165

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 70,000 70,000
Between one and five years 140,000 210,000
210,000 280,000