Company No: 08569526 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	4,672		5,485
Tangible assets	4	212,549		223,263
Investment property	5	180,000		167,000
		397,221		395,748
Current assets
Stocks		47,980		39,088
Debtors
- due within one year	6	3,028,888		3,344,311
- due after more than one year	6	0		66,586
Investments	7	99,774		417,636
Cash at bank and in hand		383,939		944,487
		3,560,581		4,812,108
Creditors: amounts falling due within one year	8	( 707,564)		( 1,606,475)
Net current assets		2,853,017		3,205,633
Total assets less current liabilities		3,250,238		3,601,381
Creditors: amounts falling due after more than one year	9	( 19,681)		( 33,213)
Provision for liabilities		( 46,542)		( 34,324)
Net assets		3,184,015		3,533,844
Capital and reserves
Called-up share capital	10	1		1
Fair value reserve		28,480		6,380
Capital redemption reserve		2		2
Profit and loss account		3,155,532		3,527,461
Total shareholder's funds		3,184,015		3,533,844

For the financial year ending 30 June 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of Cornwall Timber Build Limited (registered number: 08569526) were approved and authorised for issue by the Director on 19 October 2026. They were signed on its behalf by:

Mr S J Dewey Director

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

Cornwall Timber Build 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 Cornwall Timber Build Pensilva Industrial Estate, St. Ive Road, Pensilva, PL14 5RE, United Kingdom.

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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

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.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	10 years straight line
Other intangible assets	10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

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 on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	10 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	3 - 10 years straight line

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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. Cost is calculated using the FIFO (first-in, first-out) method. 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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	27		30

3. Intangible assets

	Goodwill		Other intangible assets		Total
	£		£		£
Cost
At 01 July 2025	25,000		8,126		33,126
At 30 June 2026	25,000		8,126		33,126
Accumulated amortisation
At 01 July 2025	25,000		2,641		27,641
Charge for the financial year	0		813		813
At 30 June 2026	25,000		3,454		28,454
Net book value
At 30 June 2026	0		4,672		4,672
At 30 June 2025	0		5,485		5,485

4. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 July 2025	110,859		277,354		38,711		426,924
Additions	4,166		74,935		3,327		82,428
Disposals	( 5,502)		( 56,326)		( 20,902)		( 82,730)
Revaluation	0		0		0		0
At 30 June 2026	109,523		295,963		21,136		426,622
Accumulated depreciation
At 01 July 2025	65,395		113,242		25,024		203,661
Charge for the financial year	10,723		51,898		5,407		68,028
Impairment losses	2,543		0		247		2,790
Disposals	( 5,502)		( 34,003)		( 20,901)		( 60,406)
At 30 June 2026	73,159		131,137		9,777		214,073
Net book value
At 30 June 2026	36,364		164,826		11,359		212,549
At 30 June 2025	45,464		164,112		13,687		223,263

The director has reviewed the valuation of the investment property at the year end and confirmed that, in their opinion, it represents a fair and reasonable estimate of its market value.

5. Investment property

	Investment property
	£
Valuation
As at 01 July 2025	167,000
Additions	9,293
Fair value movement	3,707
As at 30 June 2026	180,000

6. Debtors

	2026		2025
	£		£
Debtors: amounts falling due within one year
Trade debtors	937,478		772,241
Amounts owed by connected companies	1,904,988		1,904,988
Other debtors	186,422		667,082
	3,028,888		3,344,311
Debtors: amounts falling due after more than one year
Corporation tax	0		66,586

7. Current asset investments

	2026		2025
	£		£
Listed investments – at fair value	99,774		417,636

8. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	390,781		449,463
Amounts owed to connected companies	999		999
Taxation and social security	115,654		273,909
Obligations under finance leases and hire purchase contracts (secured)	13,532		13,532
Other creditors	186,598		868,572
	707,564		1,606,475

The finance lease liability is secured against the asset to which it relates.

9. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Obligations under finance leases and hire purchase contracts (secured)	19,681		33,213

The finance lease liability is secured against the asset to which it relates.

10. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary B shares of £ 0.01 each	1		1

11. Related party transactions

Transactions with the entity's director

	2026		2025
	£		£
Director	0		230,274
Connected companies	1,904,988		1,904,988

These loans are interest free, unsecured and are repayable on demand.

12. Ultimate controlling party

Parent Company:

Thinktank Holdings Limited

Cornwall Timber Build Pensilva Industrial Estate, St. Ive Road, Pensilva, Cornwall, United Kingdom, PL14 5RE