Registration number: 05832382

Total Timber (Formby) Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Total Timber (Formby) Limited

Company Information

Directors

Philip Jones David Coulter

Company secretary

Natalie Yvonne Coulter

Registered office

Stephenson Way Formby Industrial Estate Formby Merseyside L37 8EG

Accountants

S.B.P. (Southport) Limited T/A SB Patel & Co Chartered Certified Accountants Tolsey House 1 Marshside Road Churchtown Southport Merseyside PR9 9TL

Total Timber (Formby) Limited

(Registration number: 05832382)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	981,953	1,025,734
Current assets
Stocks	5	275,500	275,468
Debtors	6	2,352,474	2,508,731
Cash at bank and in hand		411,698	329,204
		3,039,672	3,113,403
Creditors: Amounts falling due within one year	7	(1,970,134)	(2,027,273)
Net current assets		1,069,538	1,086,130
Total assets less current liabilities		2,051,491	2,111,864
Creditors: Amounts falling due after more than one year	7	(37,491)	(120,816)
Net assets		2,014,000	1,991,048
Capital and reserves
Called up share capital		100	100
Retained earnings		2,013,900	1,990,948
Shareholders' funds		2,014,000	1,991,048

For the financial 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.

Total Timber (Formby) Limited

(Registration number: 05832382)
Statement of Financial Position as at 31 March 2025

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 11 December 2025 and signed on its behalf by:
 

......................................... Philip Jones Director

......................................... David Coulter Director

Total Timber (Formby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Stephenson Way
Formby Industrial Estate
Formby
Merseyside
L37 8EG
England

These financial statements were authorised for issue by the Board on 11 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Total Timber (Formby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated 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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Total Timber (Formby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 37 (2024 - 37).

Total Timber (Formby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £
Cost or valuation
At 1 April 2024	1,064,742	194,873	170,862	185,533
Additions	-	3,001	-	19,980
At 31 March 2025	1,064,742	197,874	170,862	205,513
Depreciation
At 1 April 2024	243,367	151,290	85,380	110,239
Charge for the year	21,295	9,316	17,096	19,055
At 31 March 2025	264,662	160,606	102,476	129,294
Carrying amount
At 31 March 2025	800,080	37,268	68,386	76,219
At 31 March 2024	821,375	43,583	85,482	75,294

	Total £
Cost or valuation
At 1 April 2024	1,616,010
Additions	22,981
At 31 March 2025	1,638,991
Depreciation
At 1 April 2024	590,276
Charge for the year	66,762
At 31 March 2025	657,038
Carrying amount
At 31 March 2025	981,953
At 31 March 2024	1,025,734

Total Timber (Formby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Stocks

	2025 £	2024 £
Other inventories	275,500	275,468

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		1,829,858	1,987,921
Amounts owed by related parties	9	-	8,333
Prepayments		35,848	31,502
Other debtors		486,768	480,975
		2,352,474	2,508,731

Total Timber (Formby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	100,556	122,936
Trade creditors		1,563,703	1,548,937
Taxation and social security		286,593	333,792
Accruals and deferred income		6,624	8,549
Other creditors		12,658	13,059
		1,970,134	2,027,273

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	37,491	120,816

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	11,736	80,254
Hire purchase contracts	25,755	40,562
	37,491	120,816

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	64,000	77,203
Hire purchase contracts	36,556	45,733
	100,556	122,936

Total Timber (Formby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Related party transactions

Summary of transactions with other related parties

Devellis Ltd
During the year the company sold goods amounting to £147,856 (2024: £147,500) to Devellis Limited, a company in which Mr D.P. Coulter has a controlling interest. Those goods were sold on an arm’s length basis. The amount outstanding at the end of the year was £7,608 (2024: £18,409) disclosed in trade debtors.

During the year the company purchased services amounting to £31,079 (2024: £2,241) from Devellis Limited, a company in which Mr D.P. Coulter has a controlling interest. Those services were purchased on an arm’s length basis. The amount outstanding at the end of the year was £0 (2024: £0) disclosed in trade creditors.

During the year, there were transactions amounting to £6,914 (2024: £0) relating to an intercompany loan with Devellis Limited, a company in which Mr D.P. Coulter has a controlling interest. The amount outstanding at the end of the year was £485,069 (2024: £478,155) disclosed in other debtors. There was also a loan agreement amounting to £100,000 resulting in an intercompany loan to Devellis Limited, The amount outstanding at the end of the year was £0 (2024: £8,333) disclosed in loans to group and participating interests.