Somerscales_Timber_Merchants_Limited_31_Dec_2025_companies_house_set_of

Somerscales (Timber Merchants) Limited

Report to the board of directors on the preparation of the unaudited statutory financial statements of Somerscales (Timber Merchants) Limited

Year ended

31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements

Somerscales (Timber Merchants) Limited

for the year ended

31 December 2025

which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.

This report is made solely to the Board of Directors of

Somerscales (Timber Merchants) Limited

, as a body. Our work has been undertaken solely to prepare for your approval the

financial statements

Somerscales (Timber Merchants) Limited

and state those matters that we have agreed to state to the Board of Directors of

Somerscales (Timber Merchants) Limited

, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than

Somerscales (Timber Merchants) Limited

and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that

Somerscales (Timber Merchants) Limited

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

Somerscales (Timber Merchants) Limited

. You consider that

Somerscales (Timber Merchants) Limited

is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Somerscales (Timber Merchants) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A G Smith & Co Ltd

Chartered Certified Accountants

Unit 8 Laceby Business Park

Laceby Business Park

Laceby

North East Lincolnshire

DN37 7DP

United Kingdom

Date:

9 July 2026

Somerscales (Timber Merchants) Limited

Statement of Financial Position

31 December 2025

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	5	631,448		621,961
Investments	6	553,388		499,811
		1,184,836		1,121,772
Current assets
Stocks		6,420		9,239
Debtors	7	94,067		121,841
Cash at bank and in hand		373,995		348,899
		474,482		479,979
Creditors: amounts falling due within one year	8	(159,567	)	(160,743	)
Net current assets		314,915		319,236
Total assets less current liabilities		1,499,751		1,441,008
Provisions for liabilities		(61,864	)	(73,913	)
Net assets		1,437,887		1,367,095
Capital and reserves
Called up share capital		500		500
Other reserves		500		500
Profit and loss account		1,436,887		1,366,095
Shareholders funds		1,437,887		1,367,095

For the year ending

31 December 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 year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

financial statements

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

In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

9 July 2026

, and are signed on behalf of the board by:

T Somerscales

Director

Company registration number:

01696336

Somerscales (Timber Merchants) Limited

Notes to the Financial Statements

Year ended

31 December 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Newstead Farm, Stallingborough

Road, Keelby

Grimsby

North East Lincolnshire

DN41 8JD

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery	25% straight line
Motor vehicles	25% reducing balance
Office equipment	25% reducing balance

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.

All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

7.00

5 Tangible assets

	Land and buildings	Plant and machinery etc.		Total
	£	£		£
Cost
At 1 January 2025	305,847	1,340,088		1,645,935
Additions	-	94,872		94,872
Disposals	-	(50,574	)	(50,574	)
At 31 December 2025	305,847	1,384,386		1,690,233
Depreciation
At 1 January 2025	-	1,023,974		1,023,974
Charge	-	82,834		82,834
Disposals	-	(48,023	)	(48,023	)
At 31 December 2025	-	1,058,785		1,058,785
Carrying amount
At 31 December 2025	305,847	325,601		631,448
At 31 December 2024	305,847	316,114		621,961

6 Investments

	Other investments other than loans
	£
Cost or valuation
At 1 January 2025	499,811
Revaluations	53,577
At 31 December 2025	553,388
Impairment
At 1 January 2025 and 31 December 2025	-
Carrying amount
At 31 December 2025	553,388
At 31 December 2024	499,811

7 Debtors

	2025	2024
	£	£
Trade debtors	67,614	105,607
Other debtors	26,453	16,234
	94,067	121,841

8 Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	17,497	18,179
Taxation and social security	35,756	52,155
Other creditors	106,314	90,409
	159,567	160,743

9 Guarantees and other financial commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amount to £86,750 (2024: £156,687). Contributions amounting to £nil (2024: £nil) were outstanding at the period end.