Totem Timber Plymouth Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Unaudited Financial Statements	3 to 9

Totem Timber Plymouth Limited

Company Information

Directors

S F Parnell K T Jeffery G Jeffery

Company secretary

A J Roberts

Registered office

St John's Road Cattedown Plymouth Devon PL4 0PA

Accountants

Westcotts Chartered AccountantsPlym House, 3 Longbridge Road Marsh Mills Plymouth Devon PL6 8LT

Totem Timber Plymouth Limited

(Registration number: 07158785)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	250,795	290,271
Other financial assets	5	50,000	50,000
		300,795	340,271
Current assets
Stocks	6	824,375	881,774
Debtors	7	167,959	185,998
Cash at bank and in hand		557,228	385,763
		1,549,562	1,453,535
Creditors: Amounts falling due within one year	8	(1,542,275)	(1,448,434)
Net current assets		7,287	5,101
Total assets less current liabilities		308,082	345,372
Provisions for liabilities		(62,700)	(72,568)
Net assets		245,382	272,804
Capital and reserves
Called up share capital		100	100
Profit and loss account		245,282	272,704
Shareholders' funds		245,382	272,804

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 Plymouth 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 timber, DIY, building supplies and general hardware retailer to trade and general public.

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.

Totem Timber Plymouth Limited

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

2	Accounting policies (continued)

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied
and services rendered, 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.

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.

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.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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
Plant and machinery	15% reducing balance and 25% reducing balance

Totem Timber Plymouth Limited

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

2	Accounting policies (continued)

Motor Vehicles

25% reducing balance

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.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

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

Stocks

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

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past
event; it is probable that the entity will be required to transfer economic benefits in settlement and the
amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the
statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Totem Timber Plymouth Limited

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

2	Accounting policies (continued)

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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2024 - 38).

Totem Timber Plymouth Limited

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

4	Tangible assets

	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2025	268,033	363,720	631,753
Additions	7,205	27,950	35,155
Disposals	(466)	(55,219)	(55,685)
At 31 December 2025	274,772	336,451	611,223
Depreciation
At 1 January 2025	160,429	181,053	341,482
Charge for the year	19,868	47,742	67,610
Eliminated on disposal	(248)	(48,416)	(48,664)
At 31 December 2025	180,049	180,379	360,428
Carrying amount
At 31 December 2025	94,723	156,072	250,795
At 31 December 2024	107,604	182,667	290,271

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2025	50,000	50,000
At 31 December 2025	50,000	50,000
Impairment
Carrying amount
At 31 December 2025	50,000	50,000

Totem Timber Plymouth Limited

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

6

Stocks

	2025 £	2024 £
Finished goods and goods for resale	824,375	881,774

7

Debtors

	2025 £	2024 £
Trade debtors	90,671	116,547
Prepayments	77,288	69,451
	167,959	185,998

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	342,189	353,733
Amounts owed to group undertakings and undertakings in which the company has a participating interest	938,614	847,105
Taxation and social security	145,927	104,904
Accruals and deferred income	45,262	47,635
Other creditors	70,283	95,057
	1,542,275	1,448,434

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Totem Timber Plymouth Limited

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

10	Related party transactions

Transactions with directors

During the year the directors entered into the following advances and credits with the company:

2025	At 1 January 2025 £	Advances to director £	Repayments by director £	At 31 December 2025 £
Directors loan accounts	(95,057)	152,458	(127,685)	(70,284)

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
Directors loan accounts	(83,672)	135,071	(146,456)	(95,057)

11	Parent Company

The ultimate controlling party is the parent company, Totem Timber Limited, whose registered office is St Johns Road, Cattedown Plymouth, Devon, PL4 0PA.