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REGISTERED NUMBER: 14205791 (England and Wales)











Jm Bower Timber Products Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2024






Jm Bower Timber Products Ltd (Registered number: 14205791)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jm Bower Timber Products Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M P Bower
J R Bower





SECRETARY:





REGISTERED OFFICE: 2 Deepwood Farm
Lower Wood Road
Ludlow
SHROPSHIRE
SY8 2JQ





REGISTERED NUMBER: 14205791 (England and Wales)





ACCOUNTANTS: Streets Dyke Ruscoe Ltd
110 Corve Street
Ludlow
SHROPSHIRE
SY8 1DJ

Jm Bower Timber Products Ltd (Registered number: 14205791)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 266,093 234,627

CURRENT ASSETS
Stocks 25,687 28,000
Debtors 5 12,203 11,820
Prepayments and accrued income 4,296 2,100
Cash at bank 88,245 104,615
130,431 146,535
CREDITORS
Amounts falling due within one year 6 48,426 45,379
NET CURRENT ASSETS 82,005 101,156
TOTAL ASSETS LESS CURRENT
LIABILITIES

348,098

335,783

CREDITORS
Amounts falling due after more than one
year

7

(216,643

)

(175,371

)

PROVISIONS FOR LIABILITIES (11,051 ) (13,768 )

ACCRUALS AND DEFERRED INCOME (3,700 ) (4,400 )
NET ASSETS 116,704 142,244

CAPITAL AND RESERVES
Called up share capital 160,000 160,000
Retained earnings (43,296 ) (17,756 )
116,704 142,244

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Jm Bower Timber Products Ltd (Registered number: 14205791)

Balance Sheet - continued
30 June 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 24 March 2025 and were signed on its behalf by:




M P Bower - Director



J R Bower - Director


Jm Bower Timber Products Ltd (Registered number: 14205791)

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

1. STATUTORY INFORMATION

Jm Bower Timber Products Ltd 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.

No profit and loss account is filed.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

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.

Jm Bower Timber Products Ltd (Registered number: 14205791)

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

2. ACCOUNTING POLICIES - continued

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 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 - 240,673 22,163 1,114 263,950
Additions 25,815 28,318 16,181 - 70,314
At 30 June 2024 25,815 268,991 38,344 1,114 334,264
DEPRECIATION
At 1 July 2023 - 24,481 4,782 60 29,323
Charge for year 494 31,460 6,615 279 38,848
At 30 June 2024 494 55,941 11,397 339 68,171
NET BOOK VALUE
At 30 June 2024 25,321 213,050 26,947 775 266,093
At 30 June 2023 - 216,192 17,381 1,054 234,627

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and
machinery
£   
COST
At 1 July 2023 163,636
Additions 25,000
At 30 June 2024 188,636
DEPRECIATION
At 1 July 2023 10,865
Charge for year 18,446
At 30 June 2024 29,311
NET BOOK VALUE
At 30 June 2024 159,325
At 30 June 2023 152,771

Jm Bower Timber Products Ltd (Registered number: 14205791)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,203 11,820

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,918 11,986
Tax 12 -
Social security and other taxes 563 -
VAT 2,826 2,995
Other creditors 125 -
Directors' current accounts 31,982 30,398
48,426 45,379

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Finance leases (see note 8) 216,643 175,371

Amounts falling due in more than five years:

Repayable by instalments
Finance leases 123,796 125,265

8. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Between one and five years 92,847 50,106
In more than five years 123,796 125,265
216,643 175,371

Included within leases is an amount owing to Armajaro Holdings Ltd. Interest is being charged at 10% per annum and repayment terms for the lease are over 10 years.

9. RELATED PARTY DISCLOSURES

Armajaro Holdings Ltd is a majority shareholder in the company. During the year the company had the following related party transactions:

Total finance charge represented in the profit and loss of £16,272.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Armajaro Holdings Ltd.