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Company No: 04290658 (England and Wales)

# OUT OF WOOD LIMITED

### Unaudited Financial Statements
For the financial year ended 31 October 2025
Pages for filing with the registrar

OUT OF WOOD LIMITED

## Unaudited Financial Statements

For the financial year ended 31 October 2025

Contents

OUT OF WOOD LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 October 2025
OUT OF WOOD LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 25,767 |  | 4,387
|  | 25,767 |  | 4,387
Current assets |  |  |  |
Stocks |  | 7,500 |  | 6,250
Debtors | 5 | 6,922 |  | 22,476
Cash at bank and in hand |  | 88,797 |  | 21,724
|  | 103,219 |  | 50,450
Creditors: amounts falling due within one year | 6 | ( 83,454) |  | ( 34,783)
Net current assets |  | 19,765 |  | 15,667
Total assets less current liabilities |  | 45,532 |  | 20,054
Creditors: amounts falling due after more than one year | 7 | ( 23,898) |  | ( 16,141)
Provision for liabilities |  | ( 4,896) |  | ( 1,035)
Net assets |  | 16,738 |  | 2,878
Capital and reserves |  |  |  |
Called-up share capital | 8 | 111 |  | 111
Share premium account |  | 11,989 |  | 11,989
Profit and loss account |  | 4,638 |  | ( 9,222 )
Total shareholders' funds |  | 16,738 |  | 2,878

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Out of Wood Limited (registered number: 04290658) were approved and authorised for issue by the Board of Directors on 24 February 2026. They were signed on its behalf by:

A Simmons Director |

OUT OF WOOD LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2025
OUT OF WOOD LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Out of Wood Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Chy Nyverow, Newham Road, Truro, TR1 2DP, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery | 20 % reducing balance
Vehicles | 20 % reducing balance
Office equipment | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 7 |  | 6

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 November 2024 | 200,000 |  | 200,000
At 31 October 2025 | 200,000 |  | 200,000
Accumulated amortisation |  |  |
At 01 November 2024 | 200,000 |  | 200,000
At 31 October 2025 | 200,000 |  | 200,000
Net book value |  |  |
At 31 October 2025 | 0 |  | 0
At 31 October 2024 | 0 |  | 0

#### 4. Tangible assets

| Plant and machinery |  | Vehicles |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 November 2024 | 61,876 |  | 11,850 |  | 1,040 |  | 74,766
Additions | 0 |  | 25,740 |  | 1,300 |  | 27,040
Disposals | 0 |  | ( 11,850) |  | 0 |  | ( 11,850)
At 31 October 2025 | 61,876 |  | 25,740 |  | 2,340 |  | 89,956
Accumulated depreciation |  |  |  |  |  |  |
At 01 November 2024 | 58,982 |  | 11,126 |  | 271 |  | 70,379
Charge for the financial year | 579 |  | 4,197 |  | 197 |  | 4,973
Disposals | 0 |  | ( 11,163) |  | 0 |  | ( 11,163)
At 31 October 2025 | 59,561 |  | 4,160 |  | 468 |  | 64,189
Net book value |  |  |  |  |  |  |
At 31 October 2025 | 2,315 |  | 21,580 |  | 1,872 |  | 25,767
At 31 October 2024 | 2,894 |  | 724 |  | 769 |  | 4,387

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 843 |  | 590
Amounts owed by directors | 0 |  | 8,219
Amounts recoverable on contracts | 0 |  | 7,644
Prepayments | 3,305 |  | 3,249
Other debtors | 2,774 |  | 2,774
| 6,922 |  | 22,476

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 22,542 |  | 17,158
Other loans (secured) | 7,290 |  | 5,881
Accruals and deferred income | 30,495 |  | 3,000
Taxation and social security | 16,374 |  | 7,976
Obligations under finance leases and hire purchase contracts | 5,198 |  | 0
Other creditors | 1,555 |  | 768
| 83,454 |  | 34,783

The other loans are secured on the undertakings of the company.

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Other loans (secured) | 8,580 |  | 16,141
Obligations under finance leases and hire purchase contracts | 15,318 |  | 0
| 23,898 |  | 16,141

The other loans are secured on the undertakings of the company.

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
111 Ordinary shares of £ 1.00 each | 111 |  | 111

#### 9. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Amounts owed to the company by the directors | 0 |  | 8,219

During the year the company loaned £5,914 (2024: £9,674) to the director, of which £14,133 (2024: £2,086) was repaid. At the balance sheet date £nil (2024: £8,219) was owed to the company by the director.