General Information
Timbers & Lychpit Ltd is a private company, limited by shares, registered in England and Wales, registration number 07945255, registration address Bethany, 6 Tyfield, Sherborne St. John Tyfield, Sherborne St. John, Basingstoke, England, RG24 9HZ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102"The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
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, excluding discounts, rebates, value added tax and other sales taxes.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Land and Buildings |
15 Years Straight Line |
| Plant and Machinery |
10% and 33% Reducing Balance
|
| Fixtures and Fittings |
25% Reducing Balance
|
| Computer Equipment |
33% Reducing Balance
|
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 22 (2025 : 24).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Plant and Machinery |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2025 |
- |
|
23,245 |
|
19,303 |
|
10,056 |
|
52,604 |
| Additions |
64,000 |
|
7,534 |
|
23,868 |
|
651 |
|
96,053 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2026 |
64,000 |
|
30,779 |
|
43,171 |
|
10,707 |
|
148,657 |
| Depreciation |
| At 01 April 2025 |
- |
|
17,734 |
|
10,504 |
|
6,515 |
|
34,753 |
| Charge for year |
2,133 |
|
1,119 |
|
3,877 |
|
1,301 |
|
8,430 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2026 |
2,133 |
|
18,853 |
|
14,381 |
|
7,816 |
|
43,183 |
| Net book values |
| Closing balance as at 31 March 2026 |
61,867 |
|
11,926 |
|
28,790 |
|
2,891 |
|
105,474 |
| Opening balance as at 01 April 2025 |
- |
|
5,511 |
|
8,799 |
|
3,541 |
|
17,851 |
|
| 4. |
Debtors: amounts falling due within one year
|
2026
£ |
|
2025
£ |
| Prepayments & Accrued Income |
1,548 |
|
1,245 |
|
1,548 |
|
1,245 |
|
| 5. |
Creditors: amount falling due within one year
|
2026
£ |
|
2025
£ |
| Trade Creditors |
- |
|
839 |
| Bank loans |
13,500 |
|
- |
| Social Security and Other Taxes |
40,993 |
|
35,189 |
| Accrued Expenses |
13,747 |
|
11,637 |
| Other Creditors |
2,629 |
|
2,391 |
| Directors' Current Accounts |
21 |
|
959 |
|
70,890 |
|
51,015 |
|
| 6. |
Creditors: amount falling due after more than one year
|
2026
£ |
|
2025
£ |
| Bank Loans more than one year |
33,750 |
|
- |
|
33,750 |
|
- |
|
| 7. |
Provisions for liabilities
|
2026
£ |
|
2025
£ |
| Deferred Tax |
10,334 |
|
3,360 |
|
10,334 |
|
3,360 |
|
4
|