Company Registration No. 11008244 (England and Wales)
T & G Timber Ltd
Unaudited accounts
for the year ended 31 March 2025
T & G Timber Ltd
Unaudited accounts
Contents
T & G Timber Ltd
Company Information
for the year ended 31 March 2025
Directors
J Guidera
J Tuite
Company Number
11008244 (England and Wales)
Registered Office
Unit 4 Glenville Mews
London
SW18 4NJ
England
Accountants
Tuite Tang Wong
Chartered Certified Accountants
15 The Broadway
Woodford Green
Essex
IG8 0HL
T & G Timber Ltd
Statement of financial position
as at 31 March 2025
Tangible assets
5,987
9,136
Cash at bank and in hand
21,623
23,417
Creditors: amounts falling due within one year
(30,120)
(36,867)
Net current assets
31,929
23,537
Total assets less current liabilities
37,916
32,673
Creditors: amounts falling due after more than one year
(147,402)
(119,172)
Net liabilities
(109,486)
(86,499)
Called up share capital
90,000
90,000
Capital contribution reserve
44,065
37,319
Profit and loss account
(243,551)
(213,818)
Shareholders' funds
(109,486)
(86,499)
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by
J Tuite
Director
Company Registration No. 11008244
T & G Timber Ltd
Notes to the Accounts
for the year ended 31 March 2025
T & G Timber Ltd is a private company, limited by shares, registered in England and Wales, registration number 11008244. The registered office is Unit 4 Glenville Mews, London, SW18 4NJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line at 20%
Motor vehicles
Straight line at 20%
Fixtures & fittings
Straight line at 33.3%
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
T & G Timber Ltd
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
12,027
4,799
2,466
19,292
At 31 March 2025
12,027
4,799
2,466
19,292
At 1 April 2024
7,824
103
2,229
10,156
Charge for the year
2,073
960
116
3,149
At 31 March 2025
9,897
1,063
2,345
13,305
At 31 March 2025
2,130
3,736
121
5,987
At 31 March 2024
4,203
4,696
237
9,136
Amounts falling due within one year
Accrued income and prepayments
12,995
12,840
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
7,323
7,142
Trade creditors
15,707
23,591
Taxes and social security
2,819
3,047
Loans from directors
2,190
3,087
7
Creditors: amounts falling due after more than one year
2025
2024
Other creditors
84,434
52,281
Loans from directors
61,725
58,325
Loan from Veratec Ltd
10-year interest-free loan discounted to its NPV at the market rate of interest.
The notional amount outstanding of £128,500 was discounted at the market rate of interest of 7.25% over the remaining 6-year term.
The change in the value was taken to reserves as a capital contribution.
The fair value is £84,434 (2024 - £52,281) and the change in value included in profit or loss is £Nil (2024 - £Nil)
T & G Timber Ltd
Notes to the Accounts
for the year ended 31 March 2025
8
Transactions with related parties
Loans from related parties
2025
Loans from key management
At start of period £58,325
Advanced £3,400
At end of period £61,725
Loans from other related parties
At start of period £52,281
Advanced £38,899
Transfer to reserves (£6,746)
At end of period £84,434
Terms of loans from related parties
A 10-year interest-free loan repayable on 29/07/31 was advanced by James Guidera a director of T&G Timber Ltd.
A 10-year interest-free loan repayable on 31/03/31 was advanced by Veratec Ltd a 25% shareholder in T&G Timber Ltd.
9
Average number of employees
During the year the average number of employees was 1 (2024: 1).