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REGISTERED NUMBER: 01284429 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Cleveland Timber Supplies Limited

Cleveland Timber Supplies Limited (Registered number: 01284429)






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


Cleveland Timber Supplies Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: P A Love
Mrs E A Love
A P Love





SECRETARY: Mrs E A Love





REGISTERED OFFICE: Unit 1
West Street
Middlesbrough
TS2 1LZ





REGISTERED NUMBER: 01284429 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Cleveland Timber Supplies Limited (Registered number: 01284429)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 168,929 162,233
Investments 5 44,023 44,023
212,952 206,256

CURRENT ASSETS
Stocks 87,650 96,500
Debtors 6 29,711 62,837
Cash at bank and in hand 263,454 209,966
380,815 369,303
CREDITORS
Amounts falling due within one year 7 303,607 321,606
NET CURRENT ASSETS 77,208 47,697
TOTAL ASSETS LESS CURRENT
LIABILITIES

290,160

253,953

CREDITORS
Amounts falling due after more than one
year

8

(52,036

)

(62,913

)

PROVISIONS FOR LIABILITIES (29,800 ) (27,700 )
NET ASSETS 208,324 163,340

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 208,224 163,240
SHAREHOLDERS' FUNDS 208,324 163,340

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.

Cleveland Timber Supplies Limited (Registered number: 01284429)

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 19 February 2025 and were signed on its behalf by:





P A Love - Director


Cleveland Timber Supplies Limited (Registered number: 01284429)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Cleveland Timber Supplies 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 company's principal place of business is at West Street, Middlesbrough, TS2 1LZ.

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

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost and 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs on conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


Cleveland Timber Supplies Limited (Registered number: 01284429)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Fixed asset investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

Cleveland Timber Supplies Limited (Registered number: 01284429)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 97,818 19,600 20,673
Additions - - -
At 30 April 2024 97,818 19,600 20,673
DEPRECIATION
At 1 May 2023 42,309 10,111 15,719
Charge for year 1,956 3,920 1,543
At 30 April 2024 44,265 14,031 17,262
NET BOOK VALUE
At 30 April 2024 53,553 5,569 3,411
At 30 April 2023 55,509 9,489 4,954

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 160,820 581 299,492
Additions 37,995 - 37,995
At 30 April 2024 198,815 581 337,487
DEPRECIATION
At 1 May 2023 68,585 535 137,259
Charge for year 23,837 43 31,299
At 30 April 2024 92,422 578 168,558
NET BOOK VALUE
At 30 April 2024 106,393 3 168,929
At 30 April 2023 92,235 46 162,233

Cleveland Timber Supplies Limited (Registered number: 01284429)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 93,556
Additions 37,995
At 30 April 2024 131,551
DEPRECIATION
At 1 May 2023 20,745
Charge for year 18,981
At 30 April 2024 39,726
NET BOOK VALUE
At 30 April 2024 91,825
At 30 April 2023 72,811

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Other investments not loans 44,023 44,023

Additional information is as follows:
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 1,300
NET BOOK VALUE
At 30 April 2024 1,300
At 30 April 2023 1,300

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Fixed asset investments 42,723 42,723

Cleveland Timber Supplies Limited (Registered number: 01284429)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,954 20,680
Other debtors 10,757 42,157
29,711 62,837

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 37,868 29,994
Trade creditors 138,429 204,207
Taxation and social security 43,982 26,321
Other creditors 73,328 51,084
303,607 321,606

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,500 22,500
Hire purchase contracts 39,536 40,413
52,036 62,913

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 77,404 70,407

The hire purchase liabilities are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £62,705 (2023 - £70,155).

Cleveland Timber Supplies Limited (Registered number: 01284429)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
P A Love and Mrs E A Love
Balance outstanding at start of year 32,354 7,246
Amounts advanced 33,545 75,108
Amounts repaid (65,899 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 32,354

Interest has been charged at a rate 2.25% on the amounts advanced to the directors during the year. The balance is repayable on demand.