REGISTERED NUMBER: 11103540 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Glenavon Timber Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P J Charlton

A D Charlton

D G Charlton

REGISTERED OFFICE:

Sawmills

Buckland Down

Nr Frome

Somerset

BA11 2RH

REGISTERED NUMBER:

11103540 (England and Wales)

FIXED ASSETS

Tangible assets

4

87,217

90,162

CURRENT ASSETS

Stocks

23,446

13,708

Debtors

5

49,401

62,166

Cash at bank and in hand

4,721

2,350

77,568

78,224

CREDITORS

Amounts falling due within one year

6

159,848

144,888

NET CURRENT LIABILITIES

(82,280

)

(66,664

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,937

23,498

CREDITORS

Amounts falling due after more than one year

7

24,243

-

NET (LIABILITIES)/ASSETS

(19,306

)

23,498

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(19,309

)

23,495

SHAREHOLDERS' FUNDS

(19,306

)

23,498

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.

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 25 September 2025 and were signed on its behalf by:

P J Charlton - Director

1.	STATUTORY INFORMATION

Glenavon Timber Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

The company has net current and total liabilities at the end of the year. The company is however financially supported by the directors and as a consequence, the directors have a reasonable expectation that the company is well placed to manage its business risks successfully and accordingly adopts the going concern basis in preparing the annual report and accounts.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

over period of lease

Plant and machinery

-

20% on straight line basis

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Long

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

98,180

10,000

108,180

DEPRECIATION

At 1 January 2024

9,000

9,018

18,018

Charge for year

1,963

982

2,945

At 31 December 2024

10,963

10,000

20,963

NET BOOK VALUE

At 31 December 2024

87,217

-

87,217

At 31 December 2023

89,180

982

90,162

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

2,671

51,673

Other debtors

-

3,285

Taxation recoverable

-

783

Called up share capital not paid

3

3

Prepayments and accrued income

8,382

6,422

11,056

62,166

Amounts falling due after more than one year:

Trade debtors

38,345

-

Aggregate amounts

49,401

62,166

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

30,966

23,839

Social security and other taxes

3,770

2,411

VAT

2,889

2,161

Other creditors

5,809

-

Accrued expenses

116,414

116,477

159,848

144,888

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Trade creditors

24,243

-

8.	RELATED PARTY DISCLOSURES

During the year sales totalling £131,842 (2023: £141,030) were made to and management charges of £12,000 (2023: £37,000) were invoiced by a company under common control.

At the balance sheet date, trade debtor balances of £38,345 (2023: £48,614) were due from and trade creditor balances of £24,243 (2023: £7,482) were due to a company under common control.

At the balance sheet date, £5,809 (2023: £3,285 due from) was due to a company under common control. The balance is interest free and payable on demand.