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Registered number: 06755258
Think Timber Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06755258
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 88,845 101,315
88,845 101,315
CURRENT ASSETS
Stocks 6 1,396,216 1,237,080
Debtors 7 1,658,417 1,599,703
Cash at bank and in hand 1,479,751 1,332,881
4,534,384 4,169,664
Creditors: Amounts Falling Due Within One Year 8 (2,810,980 ) (2,601,351 )
NET CURRENT ASSETS (LIABILITIES) 1,723,404 1,568,313
TOTAL ASSETS LESS CURRENT LIABILITIES 1,812,249 1,669,628
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (25,103 ) (21,526 )
NET ASSETS 1,787,146 1,648,102
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 1,786,146 1,647,102
SHAREHOLDERS' FUNDS 1,787,146 1,648,102
Page 1
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For the year ending 30 November 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gavin Brown
Director
Mrs Nicola Brown
Director
15 May 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Think Timber Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06755258 . The registered office is 62 Brick Kiln Lane, Parkhouse Industrial Estate West, Newcastle-under-Lyme, Staffordshire, ST5 7AS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets is the Company Website. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 15% Reducing Balance
Plant & Machinery 15% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 25% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 9)
10 9
4. Intangible Assets
Other
£
Cost
As at 1 December 2023 3,000
As at 30 November 2024 3,000
Amortisation
As at 1 December 2023 3,000
As at 30 November 2024 3,000
Net Book Value
As at 30 November 2024 -
As at 1 December 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2023 17,740 81,556 - 47,739
Additions - 1,977 62,976 2,375
Disposals - - (62,976 ) -
As at 30 November 2024 17,740 83,533 - 50,114
Depreciation
As at 1 December 2023 8,790 32,011 - 19,500
Provided during the period 1,343 7,493 - 4,474
As at 30 November 2024 10,133 39,504 - 23,974
Net Book Value
As at 30 November 2024 7,607 44,029 - 26,140
As at 1 December 2023 8,950 49,545 - 28,239
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Page 5
Computer Equipment Total
£ £
Cost
As at 1 December 2023 36,372 183,407
Additions 2,493 69,821
Disposals - (62,976 )
As at 30 November 2024 38,865 190,252
Depreciation
As at 1 December 2023 21,791 82,092
Provided during the period 6,005 19,315
As at 30 November 2024 27,796 101,407
Net Book Value
As at 30 November 2024 11,069 88,845
As at 1 December 2023 14,581 101,315
6. Stocks
2024 2023
£ £
Materials 1,396,216 1,237,080
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,547,717 1,436,906
Prepayments and accrued income 53,858 53,624
Other debtors 12,250 12,250
Factored debts outstanding 44,592 96,861
Net wages - 62
1,658,417 1,599,703
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 543,043 545,812
Corporation tax 107,031 105,346
VAT 473,125 216,760
Other creditors 12,510 13,263
Accruals and deferred income 9,813 32,371
Directors' loan accounts - 519
Amounts owed to group undertakings 1,665,458 1,687,280
2,810,980 2,601,351
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9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 25,103 21,526
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 9,913 19,995
Later than one year and not later than five years 9,284 9,790
19,197 29,785
12. Related Party Transactions
Included within creditors due within one year is a balance of £1,665,458 (2023: £1,687,280) due to parent company.
Dividends paid to parent company during the year were £338,478 (2023: £932,671).
Rental payments to parent company for the use of premises were £25,000 (2023: £25,000).
Management payments to parent company were £100,000 (2023: £100,000).
13. Ultimate Parent Undertaking and Controlling Party
The company's ultimate parent undertaking is Gavin Brown Holdings Limited a company incorporated in England & Wales with a registered office of 62 Brick Kiln Way, Parkhouse Industrial Estate West, Newcastle, Staffordshire, ST5 7AS. The ultimate controlling parties are Mr and Mrs Brown. 
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