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REGISTERED NUMBER: 01738325 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Allan Binks Timber Limited

Allan Binks Timber Limited (Registered number: 01738325)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Allan Binks Timber Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R N Binks
T R Reet





SECRETARY: Mrs K F Harrison-Binks





REGISTERED OFFICE: Catfoss Lane
Brandesburton
Driffield
East Yorkshire
YO25 8EJ





REGISTERED NUMBER: 01738325 (England and Wales)





ACCOUNTANTS: Try Lunn & Co
Chartered Accountants
Roland House
Princes Dock Street
HULL HU1 2LD

Allan Binks Timber Limited (Registered number: 01738325)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 629,498 575,659
Investments 5 1,300 1,300
630,798 576,959

CURRENT ASSETS
Stocks 345,639 334,802
Debtors 6 497,781 395,187
Cash at bank and in hand 170,306 208,609
1,013,726 938,598
CREDITORS
Amounts falling due within one year 7 611,274 494,939
NET CURRENT ASSETS 402,452 443,659
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,033,250

1,020,618

CREDITORS
Amounts falling due after more than one
year

8

(92,960

)

(56,720

)

PROVISIONS FOR LIABILITIES 11 (33,861 ) (34,569 )
NET ASSETS 906,429 929,329

CAPITAL AND RESERVES
Called up share capital 12 10,000 10,000
Revaluation reserve 13 293,650 293,650
Retained earnings 13 602,779 625,679
SHAREHOLDERS' FUNDS 906,429 929,329

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

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

Allan Binks Timber Limited (Registered number: 01738325)

Balance Sheet - continued
31 December 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:





R N Binks - Director


Allan Binks Timber Limited (Registered number: 01738325)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Allan Binks Timber Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
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 goods have been delivered or collected.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on cost

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.

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.

Allan Binks Timber Limited (Registered number: 01738325)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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 14 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 557,893 333,425 891,318
Additions - 88,231 88,231
Disposals - (20,650 ) (20,650 )
At 31 December 2024 557,893 401,006 958,899
DEPRECIATION
At 1 January 2024 78,408 237,251 315,659
Charge for year - 29,048 29,048
Eliminated on disposal - (15,306 ) (15,306 )
At 31 December 2024 78,408 250,993 329,401
NET BOOK VALUE
At 31 December 2024 479,485 150,013 629,498
At 31 December 2023 479,485 96,174 575,659

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 1993 49,204 - 49,204
Valuation in 2001 39,560 - 39,560
Valuation in 2006 283,663 - 283,663
Valuation in 2012 (100,221 ) - (100,221 )
Cost 285,687 401,006 686,693
557,893 401,006 958,899

The freehold land and buildings are included at the last independent professional valuation carried out on 10 April 2012.

If the land and buildings had not been been revalued they would be included at the historical cost of £266,283. Aggregate depreciation on the historical cost would be £102,954.

Allan Binks Timber Limited (Registered number: 01738325)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 January 2024 102,832
Additions 88,231
At 31 December 2024 191,063
DEPRECIATION
At 1 January 2024 33,247
Charge for year 24,542
At 31 December 2024 57,789
NET BOOK VALUE
At 31 December 2024 133,274
At 31 December 2023 69,585

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 1,300
NET BOOK VALUE
At 31 December 2024 1,300
At 31 December 2023 1,300

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 494,384 387,597
Other debtors 3,397 7,590
497,781 395,187

Allan Binks Timber Limited (Registered number: 01738325)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,945 10,168
Hire purchase contracts (see note 9) 24,723 22,871
Trade creditors 376,902 293,802
Taxation and social security 44,013 34,480
Other creditors 155,691 133,618
611,274 494,939

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,173 19,896
Hire purchase contracts (see note 9) 82,787 36,824
92,960 56,720

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 24,723 22,871
Between one and five years 82,787 36,824
107,510 59,695

Non-cancellable operating leases
2024 2023
£    £   
Within one year 14,916 13,226
Between one and five years 59,666 44,790
In more than five years 23,617 -
98,199 58,016

Allan Binks Timber Limited (Registered number: 01738325)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 20,118 30,064
Hire purchase contracts 107,510 59,695
Financing of trade debtors 132,506 96,144
260,134 185,903

The bank loan is secured by a fixed charge over the land at Catfoss Lane, Brandesburton.

The hire purchase creditors are secured over the relevant assets.

The financing of trade debtors is secured over the trade debtors and by a floating charge over the fixed and current assets.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 33,861 34,569

Deferred
tax
£   
Balance at 1 January 2024 34,569
Movement in the year (708 )
Balance at 31 December 2024 33,861

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2024 625,679 293,650 919,329
Profit for the year 1,170 - 1,170
Dividends (24,070 ) - (24,070 )
At 31 December 2024 602,779 293,650 896,429

14. RELATED PARTY DISCLOSURES

At 31 December 2024 £22,449 (2023 £26,404) was owed to Mr Richard Binks.

Allan Binks Timber Limited (Registered number: 01738325)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

15. CONTROLLING PARTY

The controlling party is Mr R N Binks.