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REGISTERED NUMBER: 04324208 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

J & M Timber Supplies Ltd

J & M Timber Supplies Ltd (Registered number: 04324208)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J & M Timber Supplies Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: J P Dearden





SECRETARY: H M Cottam





REGISTERED OFFICE: Suites 5 & 6, The Printworks,
Hey Road,
Ribble Valley Enterprise Park
Barrow, Clitheroe
Lancashire
BB7 9WB





REGISTERED NUMBER: 04324208 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

J & M Timber Supplies Ltd (Registered number: 04324208)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,528 15,497
14,528 15,497

CURRENT ASSETS
Stocks 140,650 119,510
Debtors 6 1,136,849 612,949
Cash at bank 265,014 536,797
1,542,513 1,269,256
CREDITORS
Amounts falling due within one year 7 343,211 296,031
NET CURRENT ASSETS 1,199,302 973,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,213,830

988,722

PROVISIONS FOR LIABILITIES 8 3,630 3,650
NET ASSETS 1,210,200 985,072

CAPITAL AND RESERVES
Called up share capital 9 300 300
Retained earnings 1,209,900 984,772
SHAREHOLDERS' FUNDS 1,210,200 985,072

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

J & M Timber Supplies Ltd (Registered number: 04324208)

Balance Sheet - continued
31 December 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 March 2025 and were signed by:





J P Dearden - Director


J & M Timber Supplies Ltd (Registered number: 04324208)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

J & M Timber Supplies 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2002, has been fully amortised evenly over its estimated life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 20% on cost
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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.


J & M Timber Supplies Ltd (Registered number: 04324208)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 400,000
AMORTISATION
At 1 January 2024
and 31 December 2024 400,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

J & M Timber Supplies Ltd (Registered number: 04324208)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


5. TANGIBLE FIXED ASSETS
Short Plant and Computer
leasehold machinery equipment Totals
£    £    £    £   
COST
At 1 January 2024 5,118 121,457 1,548 128,123
Additions - 5,374 - 5,374
At 31 December 2024 5,118 126,831 1,548 133,497
DEPRECIATION
At 1 January 2024 5,118 105,960 1,548 112,626
Charge for year - 6,343 - 6,343
At 31 December 2024 5,118 112,303 1,548 118,969
NET BOOK VALUE
At 31 December 2024 - 14,528 - 14,528
At 31 December 2023 - 15,497 - 15,497

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 564,481 429,203
Other debtors 32,382 25,359
Directors' loan accounts 400,000 120,000
Tax 125,738 25,518
Prepayments 14,248 12,869
1,136,849 612,949

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 28,057 17,634
Corporation tax 200,277 132,055
Social security and other taxes 6,094 4,983
VAT 45,533 61,077
Directors' current accounts 27,442 44,392
Accrued expenses 35,808 35,890
343,211 296,031

J & M Timber Supplies Ltd (Registered number: 04324208)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


8. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 3,630 3,650

Deferred
tax
£   
Balance at 1 January 2024 3,650
Credit to Statement of Income and Retained Earnings during
year

(20

)
Balance at 31 December 2024 3,630

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 Ordinary £1 100 100
100 A Ordinary £1 100 100
100 B Ordinary £1 100 100
300 300

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
J P Dearden
Balance outstanding at start of year 120,000 120,000
Amounts advanced 355,000 120,000
Amounts repaid (75,000 ) (120,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 400,000 120,000

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J P Dearden.