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REGISTERED NUMBER: 02416726














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

WEST SUSSEX ANTIQUE TIMBER CO. LTD.

WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEST SUSSEX ANTIQUE TIMBER CO. LTD.

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: T Saunders
K Saunders
T Lambeth
A Spiers





SECRETARY: T Lambeth





REGISTERED OFFICE: Reliance Works
New Pound
Wisborough Green
West Sussex
RH14 0AZ





REGISTERED NUMBER: 02416726





ACCOUNTANTS: Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT

WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)

Balance Sheet
31 JULY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 235,965 294,197

CURRENT ASSETS
Stocks 102,533 172,953
Debtors 5 125,854 54,819
Cash at bank 171,382 145,571
399,769 373,343
CREDITORS
Amounts falling due within one year 6 (530,563 ) (531,832 )
NET CURRENT LIABILITIES (130,794 ) (158,489 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,171

135,708

CREDITORS
Amounts falling due after more than
one year

7

(26,065

)

(32,063

)
NET ASSETS 79,106 103,645

CAPITAL AND RESERVES
Called up share capital 99 99
Share premium 1,401 1,401
Retained earnings 77,606 102,145
SHAREHOLDERS' FUNDS 79,106 103,645

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

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

WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)

Balance Sheet - continued
31 JULY 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 21 February 2025 and were signed on its behalf by:





T Lambeth - Director


WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

West Sussex Antique Timber Co. Ltd. is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Leasehold improvements - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% 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.


WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
improvements machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 68,763 25,256 225,220 230,099 549,338
Additions - 14,616 - - 14,616
At 31 July 2024 68,763 39,872 225,220 230,099 563,954
DEPRECIATION
At 1 August 2023 6,875 2,851 129,664 115,751 255,141
Charge for year 1,375 23,553 19,333 28,587 72,848
At 31 July 2024 8,250 26,404 148,997 144,338 327,989
NET BOOK VALUE
At 31 July 2024 60,513 13,468 76,223 85,761 235,965
At 31 July 2023 61,888 22,405 95,556 114,348 294,197

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,094 13,884
Amounts owed by group undertakings 78,525 -
Other debtors 19,235 40,935
125,854 54,819

WEST SUSSEX ANTIQUE TIMBER CO. LTD. (REGISTERED NUMBER: 02416726)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 88,370 54,905
Hire purchase contracts 26,766 18,881
Trade creditors 141,918 189,997
Tax 20,061 42,748
Social security and other taxes 59,130 53,514
VAT 53,182 18,176
Other creditors 2,192 2,192
Directors' current accounts 94,254 111,729
Accrued expenses 44,690 39,690
530,563 531,832

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 3,333 3,333
Hire purchase contracts 22,732 28,730
26,065 32,063