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Company No: 08857231 (England and Wales)

# TIMBERVENTURE LIMITED

### Unaudited Financial Statements
For the financial year ended 31 January 2026
Pages for filing with the registrar

TIMBERVENTURE LIMITED

## Unaudited Financial Statements

For the financial year ended 31 January 2026

Contents

TIMBERVENTURE LIMITED

## BALANCE SHEET

As at 31 January 2026
TIMBERVENTURE LIMITED

## BALANCE SHEET (continued)

As at 31 January 2026

| Note | 31.01.2026 |  | 31.01.2025
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 313,216 |  | 443,691
|  | 313,216 |  | 443,691
Current assets |  |  |  |
Stocks |  | 143,080 |  | 56,502
Debtors | 4 | 486,598 |  | 525,963
Cash at bank and in hand |  | 61,055 |  | 10,722
|  | 690,733 |  | 593,187
Creditors: amounts falling due within one year | 5 | ( 500,958) |  | ( 516,111)
Net current assets |  | 189,775 |  | 77,076
Total assets less current liabilities |  | 502,991 |  | 520,767
Creditors: amounts falling due after more than one year | 6 | ( 31,938) |  | ( 47,123)
Provision for liabilities |  | ( 51,498) |  | ( 57,517)
Net assets |  | 419,555 |  | 416,127
Capital and reserves |  |  |  |
Called-up share capital | 7 | 4 |  | 4
Profit and loss account |  | 419,551 |  | 416,123
Total shareholder's funds |  | 419,555 |  | 416,127

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has 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 Timberventure Limited (registered number: 08857231) were approved and authorised for issue by the Board of Directors on 20 April 2026. They were signed on its behalf by:

Mr C W McNulty Director |

TIMBERVENTURE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2026
TIMBERVENTURE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2026

##### 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

Timberventure 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 Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is Unit 1, Ruby Farm, Two Mile Oak, Newton Abbot, TQ12 5NQ.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 Balance Sheet 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

##### Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

##### 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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows

Land and buildings | 20 years straight line
Leasehold improvements | not depreciated
Plant and machinery | 25 % reducing balance
Vehicles | 25 % reducing balance
Office equipment | 25 % 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.

##### 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. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### 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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 31.01.2026 |  | 31.01.2025
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 25 |  | 34

#### 3. Tangible assets

| Land and buildings |  | Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 February 2025 | 280,000 |  | 4,000 |  | 65,242 |  | 257,610 |  | 22,656 |  | 629,508
Additions | 0 |  | 0 |  | 0 |  | 16,000 |  | 249 |  | 16,249
Disposals | ( 45,000) |  | 0 |  | 0 |  | ( 86,470) |  | 0 |  | ( 131,470)
At 31 January 2026 | 235,000 |  | 4,000 |  | 65,242 |  | 187,140 |  | 22,905 |  | 514,287
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 February 2025 | 0 |  | 0 |  | 59,544 |  | 110,263 |  | 16,010 |  | 185,817
Charge for the financial year | 7,681 |  | 0 |  | 1,425 |  | 24,154 |  | 1,724 |  | 34,984
Disposals | 0 |  | 0 |  | 0 |  | ( 19,730) |  | 0 |  | ( 19,730)
At 31 January 2026 | 7,681 |  | 0 |  | 60,969 |  | 114,687 |  | 17,734 |  | 201,071
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 January 2026 | 227,319 |  | 4,000 |  | 4,273 |  | 72,453 |  | 5,171 |  | 313,216
At 31 January 2025 | 280,000 |  | 4,000 |  | 5,698 |  | 147,347 |  | 6,646 |  | 443,691

#### 4. Debtors

| 31.01.2026 |  | 31.01.2025
| £ |  | £
Trade debtors | 315,860 |  | 377,417
Amounts owed by Group undertakings | 122,570 |  | 139,446
Prepayments | 6,189 |  | 7,151
VAT recoverable | 40,312 |  | 0
Other debtors | 1,667 |  | 1,949
| 486,598 |  | 525,963

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

| 31.01.2026 |  | 31.01.2025
| £ |  | £
Bank loans | 3,341 |  | 10,000
Trade creditors | 218,244 |  | 64,096
Amounts owed to directors | 40,655 |  | 18,099
Other loans (secured) | 160,000 |  | 328,531
Accruals | 3,418 |  | 7,524
Taxation and social security | 30,110 |  | 25,746
Obligations under finance leases and hire purchase contracts (secured) | 22,618 |  | 29,593
Other creditors | 22,572 |  | 32,522
| 500,958 |  | 516,111

Other loans are secured by a floating charge over the company's assets, as per the agreed lending terms.

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

| 31.01.2026 |  | 31.01.2025
| £ |  | £
Bank loans | 0 |  | 3,333
Obligations under finance leases and hire purchase contracts (secured) | 31,938 |  | 43,790
| 31,938 |  | 47,123

Hire purchase contracts are secured against the assets to which they relate.

#### 7. Called-up share capital

| 31.01.2026 |  | 31.01.2025
| £ |  | £
Allotted, called-up and fully-paid |  |  |
4 Ordinary shares of £ 1.00 each | 4 |  | 4

#### 8. Related party transactions

Transactions with the entity's directors

| 31.01.2026 |  | 31.01.2025
| £ |  | £
Directors' Loan opening balance | 18,099 |  | (8,926)
Add: Advances made during the year | (82,060) |  | (93,843)
Less: Repayments made during the year | 104,716 |  | 120,868
Directors' Loan closing balance | 40,755 |  | 18,099

During the year, the company operated a loan account with its directors. The loan is repayable upon demand and interest is charged on outstanding balances exceeding £10,000 at the HMRC official rate.

Other related party transactions

| 31.01.2026 |  | 31.01.2025
| £ |  | £
Venture Holiday Lettings Limited opening balance | (36,160) |  | (450,409)
Add: Advances made during the year | (8,084) |  | (17,900)
Less: Repayments made during the year | 0 |  | 432,149
Loan written off | 44,244 |  | 0
Venture Holiday Lettings Limited closing balance | 0 |  | (36,160)

During the year, the Company had a loan receivable from a fellow group undertaking. That undertaking ceased trading on 12 December 2024 and, following an assessment of recoverability, the balance of £44,244 was considered irrecoverable and written off to the profit and loss account during the year ended 31 January 2026

#### 9. Ultimate controlling party

Parent Company:

Timberventure Holdings Limited
Sigma House, Oak View Close, Edginswell Park, Torquay, Devon, United Kingdom, TQ2 7FF.