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REGISTERED NUMBER: 09398849 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Cracknell Timber Limited

Cracknell Timber Limited (Registered number: 09398849)






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


Cracknell Timber Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: H R Cracknell
Mrs J Cracknell





SECRETARY: H R Cracknell





REGISTERED OFFICE: 17 Donnelly Road
Bournemouth
Dorset
BH6 5NW





REGISTERED NUMBER: 09398849 (England and Wales)





ACCOUNTANTS: Simon Scott Accounts
17 Donnelly Road
Bournemouth
Dorset
BH6 5NW

Cracknell Timber Limited (Registered number: 09398849)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 230,800 205,035

CURRENT ASSETS
Stocks 222,176 212,254
Debtors 5 84,236 96,323
Cash at bank and in hand 5,436 29,390
311,848 337,967
CREDITORS
Amounts falling due within one year 6 343,181 239,932
NET CURRENT (LIABILITIES)/ASSETS (31,333 ) 98,035
TOTAL ASSETS LESS CURRENT
LIABILITIES

199,467

303,070

CREDITORS
Amounts falling due after more than
one year

7

(135,032

)

(170,316

)

PROVISIONS FOR LIABILITIES (34,129 ) (38,956 )
NET ASSETS 30,306 93,798

Cracknell Timber Limited (Registered number: 09398849)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 30,304 93,796
SHAREHOLDERS' FUNDS 30,306 93,798

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 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.

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 3 October 2024 and were signed on its behalf by:





H R Cracknell - Director


Cracknell Timber Limited (Registered number: 09398849)

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

1. STATUTORY INFORMATION

Cracknell 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.

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.
Improvements to property - 4% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.


Cracknell Timber Limited (Registered number: 09398849)

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

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 14 (2023 - 10 ) .

Cracknell Timber Limited (Registered number: 09398849)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 - 121,897 14,560
Additions 53,305 889 3,830
Disposals - - -
At 31 March 2024 53,305 122,786 18,390
DEPRECIATION
At 1 April 2023 - 48,398 7,241
Charge for year 2,132 19,617 2,468
Eliminated on disposal - - -
At 31 March 2024 2,132 68,015 9,709
NET BOOK VALUE
At 31 March 2024 51,173 54,771 8,681
At 31 March 2023 - 73,499 7,319

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 165,677 9,845 311,979
Additions 53,960 2,082 114,066
Disposals (42,802 ) - (42,802 )
At 31 March 2024 176,835 11,927 383,243
DEPRECIATION
At 1 April 2023 46,574 4,731 106,944
Charge for year 24,909 1,723 50,849
Eliminated on disposal (5,350 ) - (5,350 )
At 31 March 2024 66,133 6,454 152,443
NET BOOK VALUE
At 31 March 2024 110,702 5,473 230,800
At 31 March 2023 119,103 5,114 205,035

Cracknell Timber Limited (Registered number: 09398849)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 9,828 150,677 160,505
Additions - 53,960 53,960
Disposals - (42,802 ) (42,802 )
At 31 March 2024 9,828 161,835 171,663
DEPRECIATION
At 1 April 2023 6,632 46,261 52,893
Charge for year 799 21,238 22,037
Eliminated on disposal - (5,350 ) (5,350 )
At 31 March 2024 7,431 62,149 69,580
NET BOOK VALUE
At 31 March 2024 2,397 99,686 102,083
At 31 March 2023 3,196 104,416 107,612

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 35,737 45,784
Amounts owed by group undertakings 34,334 13,528
Other debtors 14,165 37,011
84,236 96,323

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 57,800 10,000
Hire purchase contracts 12,438 17,306
Trade creditors 117,687 119,582
Taxation and social security 7,761 30,651
Other creditors 147,495 62,393
343,181 239,932

Cracknell Timber Limited (Registered number: 09398849)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 11,667 21,667
Hire purchase contracts 48,335 49,233
Other creditors 75,030 99,416
135,032 170,316

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 60,773 66,539

The hire purchase debts shown above are secured against the assets and equipment to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

10. RELATED PARTY DISCLOSURES

Mr H R Cracknell and Mrs J Cracknell (Directors) have a loan account with the Company. At the Balance Sheet date £544 (2023: £210) was owed to Mr H R Cracknell and Mrs J Cracknell. The loan is interest free and repayable on demand.

At the year end date the Company was owed £34,334 (2023: £13,528) from the Parent Company, HR & J Cracknell Limited. The loan is interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The controlling party is HR & J Cracknell Limited.