Silverfin false false 31/03/2024 01/04/2023 31/03/2024 R Turner 20/03/1992 R J Turner 04/12/2023 20/03/1992 S M Turner 30/03/2000 12 November 2024 The principal activity of the Company during the financial year was the sale of timber and related products. 02693051 2024-03-31 02693051 bus:Director1 2024-03-31 02693051 bus:Director2 2024-03-31 02693051 bus:Director3 2024-03-31 02693051 2023-03-31 02693051 core:CurrentFinancialInstruments 2024-03-31 02693051 core:CurrentFinancialInstruments 2023-03-31 02693051 core:ShareCapital 2024-03-31 02693051 core:ShareCapital 2023-03-31 02693051 core:RetainedEarningsAccumulatedLosses 2024-03-31 02693051 core:RetainedEarningsAccumulatedLosses 2023-03-31 02693051 core:LeaseholdImprovements 2023-03-31 02693051 core:PlantMachinery 2023-03-31 02693051 core:Vehicles 2023-03-31 02693051 core:LeaseholdImprovements 2024-03-31 02693051 core:PlantMachinery 2024-03-31 02693051 core:Vehicles 2024-03-31 02693051 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 02693051 core:ImmediateParent core:CurrentFinancialInstruments 2023-03-31 02693051 2023-04-01 2024-03-31 02693051 bus:FilletedAccounts 2023-04-01 2024-03-31 02693051 bus:SmallEntities 2023-04-01 2024-03-31 02693051 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02693051 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02693051 bus:Director1 2023-04-01 2024-03-31 02693051 bus:Director2 2023-04-01 2024-03-31 02693051 bus:Director3 2023-04-01 2024-03-31 02693051 core:LeaseholdImprovements core:TopRangeValue 2023-04-01 2024-03-31 02693051 core:PlantMachinery 2023-04-01 2024-03-31 02693051 core:Vehicles 2023-04-01 2024-03-31 02693051 2022-04-01 2023-03-31 02693051 core:LeaseholdImprovements 2023-04-01 2024-03-31 02693051 1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 02693051 (England and Wales)

STALBRIDGE TIMBER SUPPLIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

STALBRIDGE TIMBER SUPPLIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

STALBRIDGE TIMBER SUPPLIES LIMITED

BALANCE SHEET

As at 31 March 2024
STALBRIDGE TIMBER SUPPLIES LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 318,173 317,945
318,173 317,945
Current assets
Stocks 4 1,045,901 845,758
Debtors 5 306,502 320,741
Cash at bank and in hand 311,005 315,095
1,663,408 1,481,594
Creditors: amounts falling due within one year 6 ( 1,473,038) ( 1,284,179)
Net current assets 190,370 197,415
Total assets less current liabilities 508,543 515,360
Provision for liabilities 7 ( 57,721) ( 77,363)
Net assets 450,822 437,997
Capital and reserves
Called-up share capital 99 99
Profit and loss account 450,723 437,898
Total shareholder's funds 450,822 437,997

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Stalbridge Timber Supplies Limited (registered number: 02693051) were approved and authorised for issue by the Board of Directors on 12 November 2024. They were signed on its behalf by:

R Turner
Director
STALBRIDGE TIMBER SUPPLIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
STALBRIDGE TIMBER SUPPLIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stalbridge Timber Supplies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Sawmills Station Road, Stalbridge, Sturminster Newton, DT10 2RN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 25 28

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 April 2023 129,280 533,486 470,896 1,133,662
Additions 79,098 0 0 79,098
At 31 March 2024 208,378 533,486 470,896 1,212,760
Accumulated depreciation
At 01 April 2023 119,198 359,972 336,547 815,717
Charge for the financial year 1,873 43,410 33,587 78,870
At 31 March 2024 121,071 403,382 370,134 894,587
Net book value
At 31 March 2024 87,307 130,104 100,762 318,173
At 31 March 2023 10,082 173,514 134,349 317,945

4. Stocks

2024 2023
£ £
Raw materials 1,045,901 845,758

5. Debtors

2024 2023
£ £
Trade debtors 290,645 298,482
Other debtors 15,857 22,259
306,502 320,741

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 463,670 249,659
Amounts owed to Parent undertakings 954,717 918,612
Taxation and social security 43,932 104,689
Other creditors 10,719 11,219
1,473,038 1,284,179

7. Provision for liabilities

2024 2023
£ £
Deferred tax 57,721 77,363

8. Ultimate controlling party

Parent Company:

Oak Holdings (Stalbridge) LimitedIncorporated in England and Wales.
Registered office is C/O Stalbridge Timber Supplies Limited, Station Road, Stalbridge, Sturminster Newton, Dorset, DT10 2RN

These financial statements are available upon request from Companies House, Cardiff.