BARRETT TIMBER LTD - Filleted accounts

Registered number

10002870

BARRETT TIMBER LTD

Filleted Accounts

28 February 2026

BARRETT TIMBER LTD
Registered number:		10002870
Balance Sheet
as at 28 February 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		726,238			687,936

Current assets
Stocks		-			10,175
Debtors	4	37,000			52,715
Cash at bank and in hand		33,237			41,658
		70,237			104,548

Creditors: amounts falling due within one year	6	(525,662)			(987,771)

Net current liabilities			(455,425)			(883,223)

Total assets less current liabilities			270,813			(195,287)

Creditors: amounts falling due after more than one year	7		(266,970)			(140,564)

Provisions for liabilities			(137,985)			(130,708)


Net liabilities			(134,142)			(466,559)

Capital and reserves
Called up share capital			1			1
Profit and loss account			(134,143)			(466,560)

Shareholder's funds			(134,142)			(466,559)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




M A BARRETT
Director
Approved by the board on 12 May 2026

BARRETT TIMBER LTD
Notes to the Accounts
for the year ended 28 February 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:



	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			1		1


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 March 2025	849,384		192,144		1,041,528
	Additions	144,467		21,995		166,462
	At 28 February 2026	993,851		214,139		1,207,990

	Depreciation
	At 1 March 2025	303,042		50,550		353,592
	Charge for the year	103,621		24,539		128,160
	At 28 February 2026	406,663		75,089		481,752

	Net book value
	At 28 February 2026	587,188		139,050		726,238
	At 28 February 2025	546,342		141,594		687,936


4	Debtors			2026		2025
£					£

	Trade debtors			37,000		50,923
	Other debtors			-		1,792
				37,000		52,715


5	Investments held as current assets			2026		2025
£					£
	Fair value

	Increase/(decrease) in fair value included in the profit and loss account for the financial year
	Listed investments			(550)		-



6	Creditors: amounts falling due within one year			2026		2025
£					£

	Bank loans and overdrafts			35,573		-
	Obligations under finance lease and hire purchase contracts			98,817		98,817
	Trade creditors			28,811		45,569
	Taxation and social security costs			166,247		167,881
	Other creditors			196,214		675,504
				525,662		987,771


7	Creditors: amounts falling due after one year			2026		2025
£					£

	Bank loans			21,452		51,858
	Obligations under finance lease and hire purchase contracts			213,482		88,706
	Trade creditors			32,036		-
				266,970		140,564


8	Contingent liabilities

	There are no contingent liabilites at the year end.


9	Related party transactions

	Apart from transactions with the director there were no related party transactions.


10	Controlling party

	Ultimate control is held by M A Barrett


11	Other information

	BARRETT TIMBER LTD is a private company limited by shares and incorporated in England. Its registered office is:
	FORMER GOODS YARD
	PENSAARN ROAD
	CARMARTHEN
	sa31 2BS