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Registered Number: 10931325
England and Wales

 

 

 

TIMBER FOCUS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
Director Talents Goto
Registered Number 10931325
Registered Office 3000 AVIATOR WAY - MANCHESTER BUSINESS PARK 3000 AVIATOR WAY
MANCHESTER BUSINESS PARK MANCHESTER
M22 5TG
Accountants VCK Accounting services
Union house
111 New union street
Coventry
CV1 2NT
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 December 2024
Principal activities
The companys principal activity during the year was Agents involved in the sale of timber and building materials
Director
The director who served the company throughout the year was as follows:
Talents Goto
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Talents Goto
Director

Date approved: 05 March 2025
2
Report to the directors on the preparation of the unaudited statutory accounts of TIMBER FOCUS LTD for the year ended 31 December 2024.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TIMBER FOCUS LTD for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of TIMBER FOCUS LTD, as a body, in accordance with the terms of our engagement letter dated 14 March 2025. Our work has been undertaken solely to prepare for your approval the accounts of TIMBER FOCUS LTD and state those matters that we have agreed to state to the Board of Directors of TIMBER FOCUS LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TIMBER FOCUS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that TIMBER FOCUS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of TIMBER FOCUS LTD. You consider that TIMBER FOCUS LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of TIMBER FOCUS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 December 2024.



....................................................

VCK Accounting services

Union house
111 New union street
Coventry
CV1 2NT
05 March 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 274,288    306,336 
274,288    306,336 
Current assets      
Stocks 4 1,259,341    1,190,067 
Debtors 5 266,044    371,914 
Cash at bank and in hand 20,200    51,951 
1,545,585    1,613,932 
Creditors: amount falling due within one year 6 (373,011)   (836,666)
Net current assets 1,172,574    777,266 
 
Total assets less current liabilities 1,446,862    1,083,602 
Creditors: amount falling due after more than one year 7 (241,314)   (46,057)
Net assets 1,205,548    1,037,545 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 1,205,538    1,037,535 
Shareholders' funds 1,205,548    1,037,545 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 05 March 2025 and were signed by:


-------------------------------
Talents Goto
Director
4
General Information
TIMBER FOCUS LTD is a private company, limited by shares, registered in England and Wales, registration number 10931325, registration address 3000 AVIATOR WAY - MANCHESTER BUSINESS PARK 3000 AVIATOR WAY, MANCHESTER BUSINESS PARK MANCHESTER, M22 5TG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 5% Straight Line
Plant and Machinery 10% Straight Line
Motor Vehicles 12.5% Straight Line
Fixtures and Fittings 10% Straight Line
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 11 (2023 : 7).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Land and Buildings   Total
  £   £   £   £   £   £
At 01 January 2024 253,459    94,838    4,570    13,517    6,625    373,009 
Additions 12,485    7,130          19,615 
Disposals   (26,494)         (26,494)
At 31 December 2024 265,944    75,474    4,570    13,517    6,625    366,130 
Depreciation
At 01 January 2024 57,987    11,855    1,277    7,473    331    78,923 
Charge for year 27,016    9,434    457    1,512    994    39,413 
On disposals   (26,494)         (26,494)
At 31 December 2024 85,003    (5,205)   1,734    8,985    1,325    91,842 
Net book values
Closing balance as at 31 December 2024 180,941    80,679    2,836    4,532    5,300    274,288 
Opening balance as at 01 January 2024 208,386    82,983    3,292    6,044    5,631    306,336 

The net book value of Land and Buildings includes £ 5,300 (2023 £6,294) in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2024
£
  2023
£
Stocks 1,259,341    1,190,067 
1,259,341    1,190,067 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 220,194    239,934 
Prepayments & Accrued Income 12,074    49,679 
Deposits paid 708    708 
Other Debtors 30,250    78,775 
Bad debt provision 2,818    2,818 
266,044    371,914 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 127,568    525,806 
Bank Loans & Overdrafts (Secured) 1,994    11,619 
Long term loan 67,132    132,068 
Corporation Tax 68,763    17,072 
Other taxes 4,414    12,702 
Other Creditors 339    (46,500)
Dividends Payable - Equity   28,185 
Wages & Salaries Control Account  
Attachment of Earnings 524   
Annual leave accrual   3,462 
Directors' Current Accounts 31,126    11 
VAT 71,151    152,241 
373,011    836,666 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 143,859    12,678 
Other Creditors 216    (785)
Obligations Under HP/Financial Leases 32,439    34,164 
Directors' Loan Accounts 64,800   
241,314    46,057 

5