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TAUNTON TIMBER LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024




















Company Registration Number - 08057114






















1.
TAUNTON TIMBER LIMITED
COMPANY NUMBER - 08057114

Balance sheet as at 31 May 2024





2024
2023

Notes
£ £ £ £
FIXED ASSETS
Intangible assets 4
10,000
10,000





Tangible assets 5
30,839
38,549





40,839
48,549

Current assets




Stocks
55,000
50,000

Debtors 6 12,000
11,200

Cash at bank and in hand
363,102
362,485




430,102
423,685
Current liabilities




Creditors - Amounts
falling due within one year 7 58,884
77,363


NET CURRENT ASSETS

371,218
346,322


Total assets less current liabilities

412,057
394,871














2.
TAUNTON TIMBER LIMITED
COMPANY NUMBER - 08057114

Balance sheet as at 31 May 2024





2024
2023

Notes
£
£
CAPITAL AND RESERVES

Called up share capital 8
1
1

Profit and Loss account

412,056
394,870


Shareholders' funds

412,057
394,871



These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies.
In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.

For the financial year ended 31 May 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The members have not required the company to obtain an audit.


The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.


Approved by the board of directors on 10 February 2025
and signed on their behalf by:




E J CHORLEY



Director



The notes on pages 3 to 5 form an integral part of these accounts.


3.
TAUNTON TIMBER LIMITED

Notes to the Financial Statements

For the year ended 31 May 2024


1. General Information

Taunton Timber Limited is a Private Company, limited by shares, domiciled in England and Wales, registration number 08057114.


The company's registered office is Brunswick House, 1 Weirfield Green, Taunton, Somerset TA1 1AZ.


2. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.


Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.


Intangible fixed assets

Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.


Tangible fixed assets and depreciation

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:


Motor vehicles - 20% reducing balance


Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.


3. Employees

The average number employed by the company (including directors) during the year 2024 was 4
and in the previous year 2023 was 4.


4.
TAUNTON TIMBER LIMITED

Notes to the Financial Statements

For the year ended 31 May 2024


4. Fixed assets - intangible

Goodwill


Fair value £
At 1 June 2023 10,000
and 31 May 2024

Net book values
At 31 May 2024 10,000

At 1 June 2023 10,000


5. Fixed assets - tangible

Plant and

Machinery

etc.


Fair value £


At 1 June 2023 63,772
and 31 May 2024


Depreciation
At 1 June 2023 25,223
Charge for year 7,710

At 31 May 2024 32,933

Net book values
At 31 May 2024 30,839
At 1 June 2023 38,549





2024
2023


£
£
6. Debtors

Due within one year:



Trade debtors 12,000
11,200



7. Creditors

Amounts falling due within one year:



Trade creditors 51,278
57,694
Taxation and social security 7,482
18,581
Director's Current Accounts 124
1,088


58,884 77,363




5.
TAUNTON TIMBER LIMITED

Notes to the Financial Statements

For the year ended 31 May 2024




2024
2023


£
£

8. Called up share capital

There was no change in share capital during the year.


Allotted, called up and fully paid



Ordinary shares of £1 each 1
1