REGISTERED NUMBER: 14624351 (England and Wales)

Financial Statements

for the Period 1 February 2024 to 31 December 2024

for

TimberX Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C P Palmer-Smith

E C Walton

REGISTERED OFFICE:

Claylands Enterprise Park

Dukeries Industrial Estate

Claylands Avenue

Worksop

Nottinghamshire

S81 7BQ

REGISTERED NUMBER:

14624351 (England and Wales)

AUDITORS:

Nicholsons Audit (Statutory Auditor)

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

FIXED ASSETS

Tangible assets

4

1,674,139

374,139

CURRENT ASSETS

Debtors

18,514

544,876

Cash in hand

21,628

100,981

40,142

645,857

CREDITORS

Amounts falling due within one year

2,940,766

2,347,215

NET CURRENT LIABILITIES

(2,900,624

)

(1,701,358

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,226,485

)

(1,327,219

)

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

5

1,300,000

-

Retained earnings

(2,526,585

)

(1,327,319

)

SHAREHOLDERS' FUNDS

(1,226,485

)

(1,327,219

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 September 2025 and were signed on its behalf by:

E C Walton - Director

1.	STATUTORY INFORMATION

TimberX 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The financial statements are prepared to generally accepted accounting principles which requires management to make estimates and assumptions that affect assets and liabilities. Actual results could be different due to these estimates. The effect on any differences are reported at the time the information becomes available.

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

Plant and machinery is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Assets whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the asset is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Taxation

Taxation for the period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

Following a detailed review and appraisal of the business, management concluded that there remained a market opportunity for TimberX. Following the re-location of plant and equipment owned by the company to the group main manufacturing site in Worksop, a restructure of its operations and cost cutting exercise management believe that prospects for the company are now positive. Whilst the restructure may take two years management are content to draw up these accounts on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 February 2024

374,139

Revaluations

1,300,000

At 31 December 2024

1,674,139

NET BOOK VALUE

At 31 December 2024

1,674,139

At 31 January 2024

374,139

Cost or valuation at 31 December 2024 is represented by:

Totals

£

Valuation in 2024

1,300,000

Cost

374,139

1,674,139

5.

RESERVES

Revaluation

reserve

£

Revaluation reserve

1,300,000

At 31 December 2024

1,300,000

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Joanne Brown (Senior Statutory Auditor)

for and on behalf of Nicholsons Audit (Statutory Auditor)

7.	ULTIMATE CONTROLLING PARTY

The company is under the control of Kybotech Group Limited, and ultimately under the control of Mr E C Walton.

Consolidated accounts can be obtained from the address below:

Dukeries Industrial Estate, Claylands Avenue,

WORKSOP

Nottinghamshire,

S81 7BQ