Totem Timber Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

Totem Timber Limited

(Registration number: 01048725)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	628,066	637,199
Investments	5	100	100
		628,166	637,299
Current assets
Debtors	6	964,864	873,355
Cash at bank and in hand		665,593	595,700
		1,630,457	1,469,055
Creditors: Amounts falling due within one year	7	(136,409)	(119,146)
Net current assets		1,494,048	1,349,909
Total assets less current liabilities		2,122,214	1,987,208
Provisions for liabilities		(510)	(691)
Net assets		2,121,704	1,986,517
Capital and reserves
Called up share capital		4,250	4,250
Capital redemption reserve		750	750
Profit and loss account		2,116,704	1,981,517
Shareholders' funds		2,121,704	1,986,517

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 14 July 2026 and signed on its behalf by:
 

S F Parnell Director

Totem Timber Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St John's Road
Cattedown
Plymouth
Devon
PL4 0PA

Principal activity

The principal activity of the company is that of a holding company.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Revenue - described as turnover - is the value of rent receivable during the year.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Totem Timber Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	20 years straight line, 50 years straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Totem Timber Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Summary of disclosure exemptions

Totem Timber Limited has taken advantage of the exemption to not prepare group accounts, under section 1A small entities of FRS 102.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

Totem Timber Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 January 2025	791,277	791,277
At 31 December 2025	791,277	791,277
Depreciation
At 1 January 2025	154,078	154,078
Charge for the year	9,133	9,133
At 31 December 2025	163,211	163,211
Carrying amount
At 31 December 2025	628,066	628,066
At 31 December 2024	637,199	637,199

5	Investments

	2025 £	2024 £
Investments in subsidiaries	100	100