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REGISTERED NUMBER: 03426123 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Clifton Timber Limited

Clifton Timber Limited (Registered number: 03426123)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clifton Timber Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: P W Clifton
Mrs K E Clifton





SECRETARY: P W Clifton





REGISTERED OFFICE: Wadworth Road
Kellythorpe Industrial Estate
Driffield
East Yorkshire
YO25 9DJ





REGISTERED NUMBER: 03426123 (England and Wales)





ACCOUNTANTS: Assured Accountancy
23 Exchange Street
Driffield
East Riding
YO25 6LF

Clifton Timber Limited (Registered number: 03426123)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 227,668 220,564

CURRENT ASSETS
Stocks 5 121,234 105,347
Debtors 6 49,180 47,834
Cash at bank and in hand 163,939 188,335
334,353 341,516
CREDITORS
Amounts falling due within one year 7 (138,611 ) (165,903 )
NET CURRENT ASSETS 195,742 175,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

423,410

396,177

PROVISIONS FOR LIABILITIES (12,491 ) (11,141 )
NET ASSETS 410,919 385,036

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 410,917 385,034
410,919 385,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Clifton Timber Limited (Registered number: 03426123)

Balance Sheet - continued
31 August 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 14 January 2025 and were signed on its behalf by:





P W Clifton - Director


Clifton Timber Limited (Registered number: 03426123)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Clifton 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.

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.
Freehold property - not provided
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. 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 - 5 ) .

Clifton Timber Limited (Registered number: 03426123)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 161,928 118,182 10,416 86,940 377,466
Additions - - - 33,278 33,278
Disposals - - - (19,990 ) (19,990 )
At 31 August 2024 161,928 118,182 10,416 100,228 390,754
DEPRECIATION
At 1 September 2023 - 104,254 6,243 46,405 156,902
Charge for year - 2,788 435 12,716 15,939
Eliminated on disposal - - - (9,755 ) (9,755 )
At 31 August 2024 - 107,042 6,678 49,366 163,086
NET BOOK VALUE
At 31 August 2024 161,928 11,140 3,738 50,862 227,668
At 31 August 2023 161,928 13,928 4,173 40,535 220,564

5. STOCKS
31.8.24 31.8.23
£    £   
Stocks 121,234 105,347

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 43,886 43,847
Prepayments 5,294 3,987
49,180 47,834

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 47,554 69,466
Tax 7,659 22,271
Social security and other taxes 3,951 4,358
VAT 15,946 16,150
Other creditors - 2,607
Directors' current accounts 62,001 49,001
Accrued expenses 1,500 2,050
138,611 165,903