Firth Boards Limited Filleted Accounts Cover
Firth Boards Limited
Company No. 08448815
Information for Filing with The Registrar
31 March 2024
Firth Boards Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 March 2024.
Principal activities
The principal activity of the company during the year under review was wholesale of boards.
Director
The Director who served at any time during the year was as follows:
J.K. Firth
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
J.K. Firth
Director
27 June 2024
Firth Boards Limited Balance Sheet Registrar
at
31 March 2024
Company No.
08448815
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
65,52086,859
65,52086,859
Current assets
Stocks
5
302,000250,000
Debtors
6
325,214221,553
Cash at bank and in hand
12,31788,427
639,531559,980
Creditors: Amount falling due within one year
7
(319,614)
(247,510)
Net current assets
319,917312,470
Total assets less current liabilities
385,437399,329
Creditors: Amounts falling due after more than one year
8
(20,943)
(36,583)
Net assets
364,494362,746
Capital and reserves
Called up share capital
55
Profit and loss account
10
364,489362,741
Total equity
364,494362,746
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 27 June 2024 and signed on its behalf by:
J.K. Firth
Director
27 June 2024
Firth Boards Limited Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
Firth Boards Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 08448815
Its registered office is:
Unit H
Middleton Business Park
Cartwright Street
Cleckheaton
BD19 5LY
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Taxation
The tax expense represents the sum of the tax currently payable. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.
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.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
1212
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 April 2023
129,15639,99014,161183,307
Additions
--823823
At 31 March 2024
129,15639,99014,984184,130
Depreciation
At 1 April 2023
65,65217,49513,30196,448
Charge for the year
15,8765,62466222,162
At 31 March 2024
81,52823,11913,963118,610
Net book values
At 31 March 2024
47,62816,8711,02165,520
At 31 March 2023
63,504
22,495
860
86,859
5
Stocks
2024
2023
£
£
Raw materials and consumables
302,000250,000
302,000250,000
6
Debtors
2024
2023
£
£
Trade debtors
368,931192,147
Other debtors
(48,547)
25,200
Prepayments and accrued income
4,8304,206
325,214221,553
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,6409,640
Obligations under finance lease and hire purchase contracts
6,0006,000
Trade creditors
160,12687,795
Taxes and social security
100,939
87,366
Loans from directors
37,48344,269
Other creditors
4136,541
Accruals and deferred income
5,0135,899
319,614247,510
8
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,44320,083
Obligations under finance lease and hire purchase contracts
10,50016,500
20,94336,583
9
Share Capital
5 Ordinary shares of £1 each have been allotted, called up and fully paid.
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
11
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
110,000
110,000
110,000
110,000
Dividends by type:
Equity dividends
110,000110,000
110,000
110,000
Firth Boards Limited0844881531 March 202401 April 2023false27 June 2024BTCSoftware AP Solution 2024 11.1.0111.1.01true084488152023-04-012024-03-31084488152024-03-31084488152023-03-3108448815core:WithinOneYear2024-03-3108448815core:WithinOneYear2023-03-3108448815core:AfterOneYear2024-03-3108448815core:AfterOneYear2023-03-3108448815core:ShareCapital2024-03-3108448815core:ShareCapital2023-03-3108448815core:RetainedEarningsAccumulatedLosses2024-03-3108448815core:RetainedEarningsAccumulatedLosses2023-03-3108448815countries:UnitedKingdom2023-04-012024-03-3108448815bus:RegisteredOffice2023-04-012024-03-31084488152022-04-012023-03-3108448815core:PlantMachinery2023-04-0108448815core:MotorVehicles2023-04-0108448815core:FurnitureFittingsToolsEquipment2023-04-01084488152023-04-0108448815core:PlantMachinery2023-04-012024-03-3108448815core:MotorVehicles2023-04-012024-03-3108448815core:FurnitureFittingsToolsEquipment2023-04-012024-03-3108448815core:PlantMachinery2024-03-3108448815core:MotorVehicles2024-03-3108448815core:FurnitureFittingsToolsEquipment2024-03-3108448815core:RetainedEarningsAccumulatedLosses2023-04-012024-03-3108448815bus:AllOrdinaryShares2023-04-012024-03-3108448815bus:SmallEntities2023-04-012024-03-3108448815bus:FullAccounts2023-04-012024-03-3108448815bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3108448815bus:Director12023-04-012024-03-3108448815bus:PrivateLimitedCompanyLtd2023-04-012024-03-31iso4217:GBPxbrli:pure