Caseware UK (AP4) 2023.0.135 2023.0.135 2024-11-302024-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.trueManufacturing timber buildings2023-12-01false22truefalse 03259538 2023-12-01 2024-11-30 03259538 2022-12-01 2023-11-30 03259538 2024-11-30 03259538 2023-11-30 03259538 c:Director1 2023-12-01 2024-11-30 03259538 d:Buildings d:LongLeaseholdAssets 2023-12-01 2024-11-30 03259538 d:Buildings d:LongLeaseholdAssets 2024-11-30 03259538 d:Buildings d:LongLeaseholdAssets 2023-11-30 03259538 d:PlantMachinery 2023-12-01 2024-11-30 03259538 d:PlantMachinery 2024-11-30 03259538 d:PlantMachinery 2023-11-30 03259538 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03259538 d:MotorVehicles 2023-12-01 2024-11-30 03259538 d:MotorVehicles 2024-11-30 03259538 d:MotorVehicles 2023-11-30 03259538 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03259538 d:FurnitureFittings 2023-12-01 2024-11-30 03259538 d:FurnitureFittings 2024-11-30 03259538 d:FurnitureFittings 2023-11-30 03259538 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03259538 d:OfficeEquipment 2023-12-01 2024-11-30 03259538 d:OfficeEquipment 2024-11-30 03259538 d:OfficeEquipment 2023-11-30 03259538 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03259538 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03259538 d:Goodwill 2024-11-30 03259538 d:Goodwill 2023-11-30 03259538 d:CurrentFinancialInstruments 2024-11-30 03259538 d:CurrentFinancialInstruments 2023-11-30 03259538 d:Non-currentFinancialInstruments 2024-11-30 03259538 d:Non-currentFinancialInstruments 2023-11-30 03259538 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 03259538 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 03259538 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 03259538 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 03259538 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-11-30 03259538 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 03259538 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-11-30 03259538 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 03259538 d:ShareCapital 2024-11-30 03259538 d:ShareCapital 2023-11-30 03259538 d:RetainedEarningsAccumulatedLosses 2024-11-30 03259538 d:RetainedEarningsAccumulatedLosses 2023-11-30 03259538 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 03259538 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 03259538 d:TaxLossesCarry-forwardsDeferredTax 2024-11-30 03259538 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 03259538 c:FRS102 2023-12-01 2024-11-30 03259538 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 03259538 c:FullAccounts 2023-12-01 2024-11-30 03259538 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 03259538 2 2023-12-01 2024-11-30 03259538 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Registered number: 03259538










SUSSEX TIMBER PRODUCTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
SUSSEX TIMBER PRODUCTS LIMITED
REGISTERED NUMBER: 03259538

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
449,492
448,572

  
449,492
448,572

Current assets
  

Stocks
  
62,006
69,695

Debtors
 6 
79,795
92,068

Cash at bank and in hand
  
83,645
81,253

  
225,446
243,016

Creditors: amounts falling due within one year
 7 
(140,137)
(133,229)

Net current assets
  
 
 
85,309
 
 
109,787

Total assets less current liabilities
  
534,801
558,359

Creditors: amounts falling due after more than one year
 8 
(81,016)
(67,878)

Provisions for liabilities
  

Deferred tax
 10 
(95,934)
(76,978)

  
 
 
(95,934)
 
 
(76,978)

Net assets
  
357,851
413,503


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
357,849
413,501

  
357,851
413,503


Page 1

 
SUSSEX TIMBER PRODUCTS LIMITED
REGISTERED NUMBER: 03259538
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Gary Patrick Holman
Director
Date: 15 April 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SUSSEX TIMBER PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Sussex Timber Products Limited (03259538) is a private company limited by shares and registered in England and Wales. The registered office address is 52 New Town, Uckfield, East Sussex, TN22 5DE. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SUSSEX TIMBER PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SUSSEX TIMBER PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Long-term leasehold property
-
2%
Straight line
Plant and machinery
-
25%
Reducing balance or 10 year straight line
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

Creditors

Short-term creditors are measured at the transaction price.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
SUSSEX TIMBER PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Intangible assets




Goodwill

£



Cost


At 1 December 2023
6,000



At 30 November 2024

6,000



Amortisation


At 1 December 2023
6,000



At 30 November 2024

6,000



Net book value



At 30 November 2024
-



At 30 November 2023
-



Page 6

 
SUSSEX TIMBER PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost


At 1 December 2023
59,659
516,127
256,011
1,433
10,323


Additions
24,947
102,775
8,625
-
2,921


Disposals
-
(81,500)
-
-
-



At 30 November 2024

84,606
537,402
264,636
1,433
13,244



Depreciation


At 1 December 2023
32,338
202,321
152,951
995
6,375


Charge for the year
24,002
52,387
26,079
110
1,355


Disposals
-
(47,084)
-
-
-



At 30 November 2024

56,340
207,624
179,030
1,105
7,730



Net book value



At 30 November 2024
28,266
329,778
85,606
328
5,514



At 30 November 2023
27,320
313,806
103,060
438
3,948
Page 7

 
SUSSEX TIMBER PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

           5.Tangible fixed assets (continued)


Total

£



Cost


At 1 December 2023
843,553


Additions
139,268


Disposals
(81,500)



At 30 November 2024

901,321



Depreciation


At 1 December 2023
394,980


Charge for the year
103,933


Disposals
(47,084)



At 30 November 2024

451,829



Net book value



At 30 November 2024
449,492



At 30 November 2023
448,572


6.


Debtors

2024
2023
£
£

Due after more than one year

Due within one year

Trade debtors
74,958
62,595

Other debtors
4,837
29,473

79,795
92,068


Page 8

 
SUSSEX TIMBER PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
59,956
51,167

Other taxation and social security
14,037
17,895

Obligations under finance lease and hire purchase contracts
28,490
18,500

Other creditors
36,947
44,960

Accruals and deferred income
707
707

140,137
133,229



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
5,337
15,716

Net obligations under finance leases and hire purchase contracts
75,679
52,162

81,016
67,878


Page 9

 
SUSSEX TIMBER PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£


Amounts falling due 1-2 years

Other loans
5,337
10,374

Amounts falling due 2-5 years

Other loans
-
5,342


5,337
15,716


Page 10

 
SUSSEX TIMBER PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

10.


Deferred taxation




2024


£






At beginning of year
(76,978)


Charged to profit or loss
(18,956)



At end of year
(95,934)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(116,786)
(107,653)

Tax losses carried forward
20,852
30,675

(95,934)
(76,978)


11.


Related party transactions

Included in other creditors falling due within one year is £25,330 (2023 - £25,330), a  loan due to a company under common control. This amount is interest free and repayable on demand.
Also included in other debtors is a loan to the company directors of £3,337 (2023 - £19,473) this amount is interest free and repayable on demand.

 
Page 11