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REGISTERED NUMBER: 06719230 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

YORKSHIRE TIMBER ENGINEERING LIMITED

YORKSHIRE TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 06719230)






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


YORKSHIRE TIMBER ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S T Prescott
D Grantley
M Prescott





REGISTERED OFFICE: Unit 1
Deans Park
Borwick Drive
Beverley
East Yorkshire
HU17 0HQ





REGISTERED NUMBER: 06719230 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

YORKSHIRE TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 06719230)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 335,863 364,549

CURRENT ASSETS
Stocks 73,506 142,434
Debtors 5 236,261 493,544
Cash at bank and in hand 205,473 146,396
515,240 782,374
CREDITORS
Amounts falling due within one year 6 176,602 329,545
NET CURRENT ASSETS 338,638 452,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

674,501

817,378

CREDITORS
Amounts falling due after more than one
year

7

(389,802

)

(410,580

)

PROVISIONS FOR LIABILITIES (17,238 ) (23,087 )
NET ASSETS 267,461 383,711

CAPITAL AND RESERVES
Called up share capital 9 90 90
Capital redemption reserve 10 10
Retained earnings 267,361 383,611
SHAREHOLDERS' FUNDS 267,461 383,711

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.

YORKSHIRE TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 06719230)

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 15 October 2024 and were signed on its behalf by:




S T Prescott - Director D Grantley - Director




M Prescott - Director


YORKSHIRE TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 06719230)

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

1. STATUTORY INFORMATION

Yorkshire Timber Engineering 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 relates to the manufacture and sale of trusses excluding discounts, rebates, value added tax and other 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.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 15% 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 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.

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
Rentals paid under operating leases are charged to the statement of income and retained earnings on a straight line basis over the period of the lease.

YORKSHIRE TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 06719230)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company has implemented auto-enrolment pension in respect of all employees. Contributions are charged to the statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 314,523 454,443 768,966
Disposals - (38,950 ) (38,950 )
At 31 March 2024 314,523 415,493 730,016
DEPRECIATION
At 1 April 2023 42,320 362,097 404,417
Charge for year 5,290 21,203 26,493
Eliminated on disposal - (36,757 ) (36,757 )
At 31 March 2024 47,610 346,543 394,153
NET BOOK VALUE
At 31 March 2024 266,913 68,950 335,863
At 31 March 2023 272,203 92,346 364,549

Included in cost of land and buildings is freehold land of £ 50,000 (2023 - £ 50,000 ) which is not depreciated.

The net book value of tangible fixed assets includes £ 42,686 (2023 - £ 48,784 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 210,538 484,315
Other debtors 25,723 9,229
236,261 493,544

YORKSHIRE TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 06719230)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 24,167
Hire purchase contracts 8,778 8,200
Trade creditors 69,113 137,218
Taxation and social security 38,483 80,284
Other creditors 60,228 79,676
176,602 329,545

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 15,082 23,860
Other creditors 374,720 386,720
389,802 410,580

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans - 24,167
Hire purchase contracts 23,860 32,060
Property loan 386,720 398,720
410,580 454,947

The property loan is secured by a legal charge over the freehold property.

The bank loan is secured under the government backed CBILS loan guarantee.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
90 Ordinary £1 90 90

YORKSHIRE TIMBER ENGINEERING LIMITED (REGISTERED NUMBER: 06719230)

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

10. 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
£    £   
S T Prescott
Balance outstanding at start of year (3,420 ) 9,468
Amounts advanced 6,724 6,630
Amounts repaid (6,250 ) (19,518 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,946 ) (3,420 )