REGISTERED NUMBER: |
Financial Statements for the Year Ended 28 February 2025 |
for |
Barnsley Timber Merchants Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 28 February 2025 |
for |
Barnsley Timber Merchants Limited |
Barnsley Timber Merchants Limited (Registered number: 02042046) |
Contents of the Financial Statements |
for the Year Ended 28 February 2025 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Barnsley Timber Merchants Limited |
Company Information |
for the Year Ended 28 February 2025 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Copia House |
Great Cliffe Court |
Great Cliffe Road |
Barnsley |
S75 3SP |
Barnsley Timber Merchants Limited (Registered number: 02042046) |
Statement of Financial Position |
28 February 2025 |
2025 | 2024 |
Notes | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Inventories | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS | 11 |
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. |
Barnsley Timber Merchants Limited (Registered number: 02042046) |
Statement of Financial Position - continued |
28 February 2025 |
The financial statements were approved by the director and authorised for issue on |
Barnsley Timber Merchants Limited (Registered number: 02042046) |
Notes to the Financial Statements |
for the Year Ended 28 February 2025 |
1. | STATUTORY INFORMATION |
Barnsley Timber Merchants Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue 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 |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investment property |
Investment property is carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
Stocks |
Inventories 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Barnsley Timber Merchants Limited (Registered number: 02042046) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2025 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 March 2024 |
Additions |
Disposals | ( |
) | ( |
) |
At 28 February 2025 |
DEPRECIATION |
At 1 March 2024 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 29 February 2024 |
Cost or valuation at 28 February 2025 is represented by: |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2004 | 120,525 | - | - | - | 120,525 |
Valuation in 2008 | 240,000 | - | - | - | 240,000 |
Valuation in 2017 | 97,793 | - | - | - | 97,793 |
Valuation in 2023 | 454,525 | - | - | - | 454,525 |
Cost | 196,982 | 155,297 | 38,065 | 56,740 | 447,084 |
1,109,825 | 155,297 | 38,065 | 56,740 | 1,359,927 |
Barnsley Timber Merchants Limited (Registered number: 02042046) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2025 |
4. | PROPERTY, PLANT AND EQUIPMENT - continued |
If Freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2025 | 2024 |
£ | £ |
Cost | 196,982 | 196,982 |
Aggregate depreciation | 83,385 | 79,604 |
Freehold land and Buildings were valued on an open market basis on 28 March 2023 by Carter Towler Chartered Surveyors . |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2024 |
Disposals | ( |
) |
At 28 February 2025 |
DEPRECIATION |
At 1 March 2024 | 99,060 |
Charge for year | 11,920 |
Eliminated on disposal | (36,641 | ) |
At 28 February 2025 | 74,339 |
NET BOOK VALUE |
At 28 February 2025 |
At 29 February 2024 |
Fair value at 28 February 2025 is represented by: |
£ |
Valuation in 2017 | 69,091 |
Valuation in 2023 | 325,360 |
Cost | 252,148 |
646,599 |
Barnsley Timber Merchants Limited (Registered number: 02042046) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2025 |
5. | INVESTMENT PROPERTY - continued |
If Investment properties had not been revalued they would have been included at the following historical cost: |
2025 | 2024 |
£ | £ |
Cost | 252,148 | 397,703 |
Aggregate depreciation | (53,850 | ) | (77,018 | ) |
Investment properties were valued on an open market basis on 28 March 2023 by Carter Towler Chartered Surveyors . |
6. | INVENTORIES |
2025 | 2024 |
£ | £ |
Goods for resale |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Trade debtors |
Section 419 tax | 55 | 55 |
Prepayments and other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | PROVISIONS FOR LIABILITIES |
2025 | 2024 |
£ | £ |
Deferred tax | 252,093 | 296,731 |
Barnsley Timber Merchants Limited (Registered number: 02042046) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2025 |
9. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 March 2024 |
Timing differences | 2,278 |
Valuation freehold property | (4,538 | ) |
Valuation investment property | (42,378 | ) |
Balance at 28 February 2025 |
10. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Mr D and Mrs A Walker by virtue of their shareholdings in the parent company Barnsley Timber Merchants (Holdings) Limited |
11. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
2025 | 2024 |
£ | £ |
Profit for the financial year |
Dividends | ( |
) | ( |
) |
Net reduction of shareholders' funds | (291,355 | ) | (226,302 | ) |
Opening shareholders' funds | 2,170,224 | 2,396,526 |
Closing shareholders' funds | 1,878,869 | 2,170,224 |