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REGISTERED NUMBER: 02631409 (England and Wales)















GOOD BROS. (TIMBER MERCHANTS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






GOOD BROS. (TIMBER MERCHANTS) LIMITED (REGISTERED NUMBER: 02631409)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GOOD BROS. (TIMBER MERCHANTS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: Mrs J E Allen





REGISTERED OFFICE: West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ





REGISTERED NUMBER: 02631409 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

GOOD BROS. (TIMBER MERCHANTS) LIMITED (REGISTERED NUMBER: 02631409)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 241,873 248,816

CURRENT ASSETS
Stock and work in progress 159,080 195,206
Debtors 5 24,988 30,211
Cash at bank and in hand 384,800 361,031
568,868 586,448
CREDITORS
Amounts falling due within one year 6 105,768 172,066
NET CURRENT ASSETS 463,100 414,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

704,973

663,198

PROVISIONS FOR LIABILITIES 6,277 8,733
NET ASSETS 698,696 654,465

CAPITAL AND RESERVES
Called up share capital 7 30,600 30,600
Share redemption reserve 8 29,400 29,400
Retained earnings 8 638,696 594,465
SHAREHOLDERS' FUNDS 698,696 654,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

GOOD BROS. (TIMBER MERCHANTS) LIMITED (REGISTERED NUMBER: 02631409)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2025 and were signed by:





Mrs J E Allen - Director


GOOD BROS. (TIMBER MERCHANTS) LIMITED (REGISTERED NUMBER: 02631409)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Good Bros. (Timber Merchants) 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 - 2% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Office and computer equipment - 33% on cost and 10% on reducing balance

Stocks
Stock 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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.

GOOD BROS. (TIMBER MERCHANTS) LIMITED (REGISTERED NUMBER: 02631409)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 261,922 268,249 2,417
Disposals - - -
At 30 September 2024 261,922 268,249 2,417
DEPRECIATION
At 1 October 2023 49,766 237,422 1,066
Charge for year 2,576 3,086 135
Eliminated on disposal - - -
At 30 September 2024 52,342 240,508 1,201
NET BOOK VALUE
At 30 September 2024 209,580 27,741 1,216
At 30 September 2023 212,156 30,827 1,351

Office
and
Motor computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 82,091 8,451 623,130
Disposals - (215 ) (215 )
At 30 September 2024 82,091 8,236 622,915
DEPRECIATION
At 1 October 2023 78,348 7,712 374,314
Charge for year 748 362 6,907
Eliminated on disposal - (179 ) (179 )
At 30 September 2024 79,096 7,895 381,042
NET BOOK VALUE
At 30 September 2024 2,995 341 241,873
At 30 September 2023 3,743 739 248,816

GOOD BROS. (TIMBER MERCHANTS) LIMITED (REGISTERED NUMBER: 02631409)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,171 27,610
Prepayments and accrued income 2,817 2,601
24,988 30,211

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,397 68,455
Tax 12,350 8,871
Social security and other taxes 795 793
VAT 16,739 18,026
Credit card control - 18
Wages control 589 384
Nest pension 119 163
Directors' current accounts 40,686 70,374
Accruals and deferred income 4,093 4,982
105,768 172,066

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
61,200 Ordinary A 50p 30,600 30,600

15,600 Ordinary shares of £1 each were converted to 31,200 Ordinary A shares of 50p each on 7 July 2014.

8. RESERVES
Share
Retained redemption
earnings reserve Totals
£    £    £   

At 1 October 2023 594,465 29,400 623,865
Profit for the year 44,231 44,231
At 30 September 2024 638,696 29,400 668,096