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REGISTERED NUMBER: 05772493 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

NORTON TIMBER LIMITED

NORTON TIMBER LIMITED (REGISTERED NUMBER: 05772493)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTON TIMBER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: T Norton
Mrs I E Norton





SECRETARY: Mrs I E Norton





REGISTERED OFFICE: Norton Timber, Long Lane
Shepherdswell
Dover
Kent
CT15 7LU





REGISTERED NUMBER: 05772493 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Charlton House
Dour Street
DOVER
Kent
CT16 1BL

NORTON TIMBER LIMITED (REGISTERED NUMBER: 05772493)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 63,406 72,774

CURRENT ASSETS
Stocks 5,999 49,751
Debtors 5 27,715 63,696
Cash at bank 6,366 7,770
40,080 121,217
CREDITORS
Amounts falling due within one year 6 72,236 118,891
NET CURRENT (LIABILITIES)/ASSETS (32,156 ) 2,326
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,250

75,100

CREDITORS
Amounts falling due after more than one
year

7

(28,574

)

(43,187

)

PROVISIONS FOR LIABILITIES (7,894 ) (9,199 )
NET (LIABILITIES)/ASSETS (5,218 ) 22,714

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (5,318 ) 22,614
SHAREHOLDERS' FUNDS (5,218 ) 22,714

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

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

NORTON TIMBER LIMITED (REGISTERED NUMBER: 05772493)

BALANCE SHEET - continued
30 APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by:




Mrs I E Norton - Director



T Norton - Director


NORTON TIMBER LIMITED (REGISTERED NUMBER: 05772493)

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

1. STATUTORY INFORMATION

Norton 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.

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.
Short leasehold - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 15% 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.

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 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.

NORTON TIMBER LIMITED (REGISTERED NUMBER: 05772493)

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

2. ACCOUNTING POLICIES - continued

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 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Office
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 44,086 114,791 20,085 13,215 192,177
Additions - 105 - 815 920
At 30 April 2024 44,086 114,896 20,085 14,030 193,097
DEPRECIATION
At 1 May 2023 20,513 73,091 15,955 9,844 119,403
Charge for year 2,357 6,271 1,032 628 10,288
At 30 April 2024 22,870 79,362 16,987 10,472 129,691
NET BOOK VALUE
At 30 April 2024 21,216 35,534 3,098 3,558 63,406
At 30 April 2023 23,573 41,700 4,130 3,371 72,774

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 12,746 5,332
Amounts recoverable on contract 14,560 49,006
Tax 409 -
VAT - 9,358
27,715 63,696

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 17,094 14,258
Trade creditors 34,386 73,630
Tax - 481
Social security and other taxes 2,903 4,755
VAT 2,984 -
Directors' current accounts 10,044 17,480
Sundry creditors 4,825 8,287
72,236 118,891

NORTON TIMBER LIMITED (REGISTERED NUMBER: 05772493)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1-2 years 14,618 14,786
Bank loans - 2-5 years 13,956 28,401
28,574 43,187

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary 1 100 100