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Registered Number:03739255













LUMBERJACKS LIMITED




UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023











 
LUMBERJACKS LIMITED
 

 
COMPANY INFORMATION


Directors
A R Milner-Moore 
C R Milner-Moore 




Company secretary
Mrs Y Jewell



Registered number
03739255



Registered office
The Sawmill
Colchester Road, Wix

Manningtree

Essex

CO11 2RS




Accountants
Scrutton Bland Limited

Fitzroy House

Crown Street

Ipswich

Suffolk

IP1 3LG




Bankers
Lloyds Bank Plc
Lloyds Avenue

Cornhill

Ipswich

Suffolk

IP1 1DG






 
LUMBERJACKS LIMITED
 


CONTENTS



Pages
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 8


 
LUMBERJACKS LIMITED
REGISTERED NUMBER:03739255


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,035,192
940,855

  
1,035,192
940,855

Current assets
  

Stocks
  
426,568
446,932

Debtors: amounts falling due within one year
 6 
75,101
90,932

Bank and cash balances
  
166,139
178,097

  
667,808
715,961

Creditors: amounts falling due within one year
 7 
(197,998)
(284,724)

Net current assets
  
 
 
469,810
 
 
431,237

Total assets less current liabilities
  
1,505,002
1,372,092

Provisions for liabilities
  

Deferred tax
  
(38,195)
(9,882)

  
 
 
(38,195)
 
 
(9,882)

Net assets
  
1,466,807
1,362,210


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,466,707
1,362,110

  
1,466,807
1,362,210


- 1 -



 
LUMBERJACKS LIMITED
REGISTERED NUMBER:03739255

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2024.




A R Milner-Moore
Director

The notes on pages 3 to 8 form part of these financial statements.


- 2 -



 
LUMBERJACKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Lumberjacks Limited (the 'Company') is a private company limited by share capital, incorporated in England and Wales, registration number 03739255. The address of the registered office is The Sawmill, Colchester Road, Wix, Manningtree, Essex CO11 2RS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have prepared forecasts which indicate that the Company will be able to meet its liabilities as they fall due and continue to trade for the foreseeable future, being a period of at least 12 months from the date of approval of the financial statements. Accordingly, the Directors have prepared the financial statements on the going concern basis.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.


- 3 -



 
LUMBERJACKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
4%
on cost
Motor vehicles and forklifts
-
10%
- 25% on cost
Office furniture and equipment
-
25%
on cost
Freehold land is not depreciated


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

- 4 -



 
LUMBERJACKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, balances with other third parties and balances with related parties. These assets and liabilities are recognised at transaction price. 
Financial assets that are measured at cost and 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 the Profit and Loss Account.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simunltaneously. 

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the Shareholders at an Annual General Meeting.

  
2.9

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in the Profit and Loss Account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
 
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
 
Both current and deferred tax are determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

  
2.10

Employee benefits

The Company contributes to a defined contribution plan for the benefit of its employees. Contributions are recognised in profit or loss as they become payable. Any amounts unpaid are included within creditors.


- 5 -



 
LUMBERJACKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.11

Operating leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Preparation of the financial statements requires management to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and assumptions are based on experiences and other factors that are considered to be relevant. Actual results may differ from these estimates. The main estimations included within the accounts are stock and debtor provisions and depreciation on tangible fixed assets. The Directors take into consideration all known information to inform their decision making regarding such judgements and estimates, including historic trends and an assessment of both current and foreseen market conditions.


4.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 11).


- 6 -



 
LUMBERJACKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Freehold property
Motor vehicles and forklifts
Office furniture and equipment
Total

£
£
£
£



Cost


At 1 January 2023
936,886
114,218
1,888
1,052,992


Additions
5,191
136,750
-
141,941


Disposals
-
(17,340)
(1,888)
(19,228)



At 31 December 2023

942,077
233,628
-
1,175,705



Depreciation


At 1 January 2023
17,380
92,869
1,888
112,137


Charge for the year
13,744
24,106
-
37,850


Disposals
-
(7,586)
(1,888)
(9,474)



At 31 December 2023

31,124
109,389
-
140,513



Net book value



At 31 December 2023
910,953
124,239
-
1,035,192



At 31 December 2022
919,506
21,349
-
940,855

Included within freehold property is land amounting to £598,462 (2022: £598,462) which is not depreciated.


- 7 -



 
LUMBERJACKS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
75,096
89,145

Other debtors
5
1,787

75,101
90,932



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
141,733
199,153

Corporation tax payable
11,925
39,900

Other taxation and social security
32,585
18,333

Other creditors
11,755
27,338

197,998
284,724



8.


Pension commitments

At 31 December 2023 the Company had annual defined contribution pension commitments of £8,670 (2022: £7,375).


9.


Commitments under operating leases

At 31 December 2023 the Company had operating lease commitments not included in the Balance Sheet of £46,758 (2022: £39,048). The relate to amounts falling due within one year of £9,661 (2022: £6,545), due within two to five years of £36,565 (2022: £25,576) and due after five years of £532 (2022: £6,927).



10.


Related parties

At the year end date the following balances were owed to/(from) related parties: Castlewood Developments Limited £1,658 (2022: £nil); Castlewood Holdings Limited £nil (2022: (£1,258)); and Anglian Timber Limited £40,474 (2022: £6,335). 
All transactions with related parties are conducted on normal commercial terms.
The Company is controlled by its majority Shareholder, A R Milner-Moore, a Director of the Company.
 

- 8 -