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REGISTERED NUMBER: 12035284 (England and Wales)















J F TIMBER LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






J F TIMBER LTD (REGISTERED NUMBER: 12035284)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J F TIMBER LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: J R Fradley





REGISTERED OFFICE: Unit 1, Kingsilver Refinery
Hixon Industrial Estate, Church Lane
Hixon
Stafford
ST18 0PY





REGISTERED NUMBER: 12035284 (England and Wales)

J F TIMBER LTD (REGISTERED NUMBER: 12035284)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 146,876 81,277
Investments 5 30,500 -
177,376 81,277

CURRENT ASSETS
Stocks 171,179 100,000
Debtors 6 9,744 19,208
Cash at bank and in hand 152,882 72,162
333,805 191,370
CREDITORS
Amounts falling due within one year 7 (230,147 ) (101,004 )
NET CURRENT ASSETS 103,658 90,366
TOTAL ASSETS LESS CURRENT LIABILITIES 281,034 171,643

CREDITORS
Amounts falling due after more than one
year

8

(135,580

)

(106,927

)

PROVISIONS FOR LIABILITIES (16,662 ) (20,319 )
NET ASSETS 128,792 44,397

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 128,692 44,297
SHAREHOLDERS' FUNDS 128,792 44,397

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

J F TIMBER LTD (REGISTERED NUMBER: 12035284)

BALANCE SHEET - continued
30 JUNE 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





J R Fradley - Director


J F TIMBER LTD (REGISTERED NUMBER: 12035284)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

J F Timber 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

The significant accounting policies applied in the preparation of these financial statements are set put below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of timber 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 in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 12.5% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Fixed assets are stated at revalued amounts less accumulated depreciation.

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

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.


J F TIMBER LTD (REGISTERED NUMBER: 12035284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 1 ) .

J F TIMBER LTD (REGISTERED NUMBER: 12035284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 6,011 6,200 89,723 5,298 107,232
Additions 44,124 9,015 103,255 1,046 157,440
Disposals (4,600 ) - (59,948 ) - (64,548 )
At 30 June 2024 45,535 15,215 133,030 6,344 200,124
DEPRECIATION
At 1 July 2023 1,509 863 22,430 1,153 25,955
Charge for year 9,107 1,902 31,230 1,268 43,507
Eliminated on disposal (1,227 ) - (14,987 ) - (16,214 )
At 30 June 2024 9,389 2,765 38,673 2,421 53,248
NET BOOK VALUE
At 30 June 2024 36,146 12,450 94,357 3,923 146,876
At 30 June 2023 4,502 5,337 67,293 4,145 81,277

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 85,373
Additions 97,840
Disposals (59,948 )
At 30 June 2024 123,265
DEPRECIATION
At 1 July 2023 21,343
Charge for year 29,061
Eliminated on disposal (14,987 )
At 30 June 2024 35,417
NET BOOK VALUE
At 30 June 2024 87,848
At 30 June 2023 64,030

J F TIMBER LTD (REGISTERED NUMBER: 12035284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 30,500
At 30 June 2024 30,500
NET BOOK VALUE
At 30 June 2024 30,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,023 18,513
Other debtors 320 320
Prepayments and accrued income 401 375
9,744 19,208

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,652 5,513
Hire purchase contracts 17,252 12,825
Trade creditors 78,634 66,844
Tax 71,716 1,751
Social security and other taxes 3,717 2,674
VAT 31,009 1,109
Other creditors 20,236 120
Directors' current accounts 62 7,846
Accruals and deferred income 1,869 2,322
230,147 101,004

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,795 5,652
Bank loans - 2-5 years 18,279 17,829
Bank loans more than 5 years
by instalments 9,664 15,910
Hire purchase contracts 101,842 67,536
135,580 106,927

J F TIMBER LTD (REGISTERED NUMBER: 12035284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 9,664 15,910
9,664 15,910

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 119,094 80,361

The above debts are secured against the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

11. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £1,800 (2023 - £1,750)