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REGISTERED NUMBER: 00107182 (England and Wales)









VINCENT TIMBER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






VINCENT TIMBER LIMITED (REGISTERED NUMBER: 00107182)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VINCENT TIMBER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: J Vincent
Mrs C A Vincent
D D D Powell



SECRETARY: A Cliff



REGISTERED OFFICE: 8 Montgomery Street
Sparkbrook
Birmingham
West Midlands
B11 1DU



REGISTERED NUMBER: 00107182 (England and Wales)



ACCOUNTANTS: UHY Hacker Young (Birmingham) LLP
9-11 Vittoria Street
Birmingham
B1 3ND



BANKERS: HSBC Bank Plc
New Street Branch
130 New Street
Birmingham
West Midlands
B2 4JU

VINCENT TIMBER LIMITED (REGISTERED NUMBER: 00107182)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,403 46,986
Tangible assets 5 1,434,163 1,409,499
1,464,566 1,456,485

CURRENT ASSETS
Stocks 6 2,341,809 3,020,608
Debtors 7 2,247,128 1,685,303
Cash at bank and in hand 246,493 513,671
4,835,430 5,219,582
CREDITORS
Amounts falling due within one year 8 1,622,124 1,841,183
NET CURRENT ASSETS 3,213,306 3,378,399
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,677,872

4,834,884

CREDITORS
Amounts falling due after more than
one year

9

-

(105,907

)

PROVISIONS FOR LIABILITIES 10 (222,097 ) (243,425 )
NET ASSETS 4,455,775 4,485,552

VINCENT TIMBER LIMITED (REGISTERED NUMBER: 00107182)

BALANCE SHEET - continued
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 870,966 870,966
Share premium 3 3
Retained earnings 3,584,806 3,614,583
SHAREHOLDERS' FUNDS 4,455,775 4,485,552

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 15 April 2025 and were signed on its behalf by:





J Vincent - Director


VINCENT TIMBER LIMITED (REGISTERED NUMBER: 00107182)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Vincent 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.

Going Concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such condition, the directors have carefully considered these risks, including an assessment of uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and serving obligations of external debt liabilities.

In addition, the company's assets are assessed for recoverability on a regular basis, and the directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is charged at the following rate - 33% straight line

VINCENT TIMBER LIMITED (REGISTERED NUMBER: 00107182)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 25% on cost and 10% on cost
Fixtures and fittings - 33% on cost, 20% on cost and 10% on cost
Motor vehicles - 25% on cost and 10% 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are payable to the company's pension scheme are charged to the profit and loss in the period to which they relate. The assets of the scheme are held separately from those of the company.

VINCENT TIMBER LIMITED (REGISTERED NUMBER: 00107182)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 49,750
AMORTISATION
At 1 October 2023 2,764
Amortisation for year 16,583
At 30 September 2024 19,347
NET BOOK VALUE
At 30 September 2024 30,403
At 30 September 2023 46,986

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 509,613 1,336,068 435,168
Additions 116,671 114,747 4,505
Disposals - (76,345 ) -
At 30 September 2024 626,284 1,374,470 439,673
DEPRECIATION
At 1 October 2023 166,889 786,740 294,712
Charge for year 24,946 98,531 34,556
Eliminated on disposal - (53,261 ) -
At 30 September 2024 191,835 832,010 329,268
NET BOOK VALUE
At 30 September 2024 434,449 542,460 110,405
At 30 September 2023 342,724 549,328 140,456

VINCENT TIMBER LIMITED (REGISTERED NUMBER: 00107182)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 250,924 246,950 2,778,723
Additions - 62,021 297,944
Disposals - - (76,345 )
At 30 September 2024 250,924 308,971 3,000,322
DEPRECIATION
At 1 October 2023 20,206 100,677 1,369,224
Charge for year 39,901 52,262 250,196
Eliminated on disposal - - (53,261 )
At 30 September 2024 60,107 152,939 1,566,159
NET BOOK VALUE
At 30 September 2024 190,817 156,032 1,434,163
At 30 September 2023 230,718 146,273 1,409,499

Included in cost of land and buildings is freehold land of £ 184,122 (2023 - £ 75,000 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2023
and 30 September 2024 125,683
DEPRECIATION
At 1 October 2023 24,089
Charge for year 12,568
At 30 September 2024 36,657
NET BOOK VALUE
At 30 September 2024 89,026
At 30 September 2023 101,594

VINCENT TIMBER LIMITED (REGISTERED NUMBER: 00107182)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. STOCKS
2024 2023
£    £   
Raw materials 2,341,809 3,020,608

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,312,617 1,257,057
Amounts owed by group undertakings 23,389 22,889
Other debtors 132,804 55,852
Corporation tax recoverable 65,653 86,966
Directors' current accounts 655,081 201,235
Prepayments 57,584 61,304
2,247,128 1,685,303

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,906 35,435
Trade creditors 942,930 1,264,957
Corporation tax 196,005 32,874
Social security and other taxes 25,850 31,659
VAT 262,170 254,942
Other creditors 34,387 41,165
Accrued expenses 154,876 180,151
1,622,124 1,841,183

Included within corporation tax is a balance of £140,056 (2023: £27,218) in relation to S455 tax due on an overdrawn directors loan account balance at year end.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 5,906
Directors' loan accounts - 100,001
- 105,907

Director's current account of more than one year is unsecured and interest free with no fixed dates of repayment.

VINCENT TIMBER LIMITED (REGISTERED NUMBER: 00107182)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 222,097 243,425

Deferred
tax
£   
Balance at 1 October 2023 243,425
Accelerated capital allowances (21,328 )
Balance at 30 September 2024 222,097

11. CAPITAL COMMITMENTS

20242023
Contracted for but not provided for in these financial statements-108,272
Authorised by Directors but not provided for in these financial
statements

-

67,700
-175,972