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REGISTERED NUMBER: SC383491 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

SHAWFIELD TIMBER LTD

SHAWFIELD TIMBER LTD (REGISTERED NUMBER: SC383491)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


SHAWFIELD TIMBER LTD (REGISTERED NUMBER: SC383491)

BALANCE SHEET
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 291,773 187,823

CURRENT ASSETS
Stocks 5 600,915 395,386
Debtors 6 823,026 1,023,294
Cash at bank and in hand 178,875 251,645
1,602,816 1,670,325
CREDITORS
Amounts falling due within one year 7 745,021 595,439
NET CURRENT ASSETS 857,795 1,074,886
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,149,568

1,262,709

CREDITORS
Amounts falling due after more than one
year

8

(109,336

)

(182,635

)

PROVISIONS FOR LIABILITIES (62,866 ) (35,686 )
NET ASSETS 977,366 1,044,388

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 977,316 1,044,338
SHAREHOLDERS' FUNDS 977,366 1,044,388

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

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

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.

SHAWFIELD TIMBER LTD (REGISTERED NUMBER: SC383491)

BALANCE SHEET - continued
31 October 2024



The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:





C Frew - Director


SHAWFIELD TIMBER LTD (REGISTERED NUMBER: SC383491)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Shawfield Timber Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC383491

Registered office: 22 Backbrae Street
Kilsyth
Glasgow
North Lanarkshire
G65 0NH

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 and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% 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.

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.

SHAWFIELD TIMBER LTD (REGISTERED NUMBER: SC383491)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

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.

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 23 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 91,955 50,639 268,863 33,530 444,987
Additions - - 143,050 - 143,050
At 31 October 2024 91,955 50,639 411,913 33,530 588,037
DEPRECIATION
At 1 November 2023 66,630 30,352 137,057 23,125 257,164
Charge for year 5,065 5,072 26,361 2,602 39,100
At 31 October 2024 71,695 35,424 163,418 25,727 296,264
NET BOOK VALUE
At 31 October 2024 20,260 15,215 248,495 7,803 291,773
At 31 October 2023 25,325 20,287 131,806 10,405 187,823

SHAWFIELD TIMBER LTD (REGISTERED NUMBER: SC383491)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2023
and 31 October 2024 153,713
DEPRECIATION
At 1 November 2023 56,579
Charge for year 19,426
At 31 October 2024 76,005
NET BOOK VALUE
At 31 October 2024 77,708
At 31 October 2023 97,134

5. STOCKS
31.10.24 31.10.23
£    £   
Stocks 600,915 395,386

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 199,117 90,104
Other debtors 334,164 356,664
Newtechwood Distribution Ltd 263,000 550,000
Prepayments 26,745 26,526
823,026 1,023,294

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 50,000 50,000
Other loans - 31,125
Hire purchase contracts 23,300 23,300
Trade creditors 530,628 355,451
Tax 16,786 10,521
Social security and other taxes 15,449 12,871
Pension due 9,166 5,694
VAT 13,956 26,202
Factor Account 47,338 43,314
Accrued expenses 38,398 36,961
745,021 595,439

SHAWFIELD TIMBER LTD (REGISTERED NUMBER: SC383491)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans - 1-2 years 50,000 100,000
Hire purchase contracts 59,336 82,635
109,336 182,635

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Factor account 47,338 43,314

There is a floating charge covering all the property or undertaking of the company on the above debt.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C Frew.