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REGISTERED NUMBER: 04507942 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

D M G TIMBER LIMITED

D M G TIMBER LIMITED (REGISTERED NUMBER: 04507942)






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


D M G TIMBER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D M Gore
J J J Gore





SECRETARY: J J J Gore





REGISTERED OFFICE: Merries Farm
Pullover Road
West Lynn
King's Lynn
Norfolk
PE34 3LS





REGISTERED NUMBER: 04507942 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

D M G TIMBER LIMITED (REGISTERED NUMBER: 04507942)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 234,968 194,607
234,968 194,607

CURRENT ASSETS
Stocks 89,350 87,500
Debtors 6 29,584 36,032
Cash at bank 1,078,119 926,640
1,197,053 1,050,172
CREDITORS
Amounts falling due within one year 7 147,880 208,096
NET CURRENT ASSETS 1,049,173 842,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,284,141

1,036,683

PROVISIONS FOR LIABILITIES 36,400 45,000
NET ASSETS 1,247,741 991,683

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,247,641 991,583
1,247,741 991,683

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.

D M G TIMBER LIMITED (REGISTERED NUMBER: 04507942)

BALANCE SHEET - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





D M Gore - Director


D M G TIMBER LIMITED (REGISTERED NUMBER: 04507942)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

D M G 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.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectations that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 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 Statement of Income and Retained Earnings, 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.


D M G TIMBER LIMITED (REGISTERED NUMBER: 04507942)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 58,750
AMORTISATION
At 1 April 2023
and 31 March 2024 58,750
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

D M G TIMBER LIMITED (REGISTERED NUMBER: 04507942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
improvements machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 8,667 189,788 6,800 160,708 365,963
Additions - 63,073 - 81,995 145,068
Disposals - (39,090 ) - (81,060 ) (120,150 )
At 31 March 2024 8,667 213,771 6,800 161,643 390,881
DEPRECIATION
At 1 April 2023 691 105,125 5,001 60,539 171,356
Charge for year 173 25,675 450 24,868 51,166
Eliminated on disposal - (25,367 ) - (41,242 ) (66,609 )
At 31 March 2024 864 105,433 5,451 44,165 155,913
NET BOOK VALUE
At 31 March 2024 7,803 108,338 1,349 117,478 234,968
At 31 March 2023 7,976 84,663 1,799 100,169 194,607

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 17,070 35,867
Other debtors 12,514 165
29,584 36,032

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 23,268 105,597
Taxation and social security 120,281 62,791
Other creditors 4,331 39,708
147,880 208,096

D M G TIMBER LIMITED (REGISTERED NUMBER: 04507942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
J J J Gore
Balance outstanding at start of year - -
Amounts advanced 12,514 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,514 -

9. RELATED PARTY DISCLOSURES

During the year, a director was paid rent amounting to £7,200 (2022 - £7,200) in respect of property owned personally by him.