N.B.M.Timber Products Limited - Accounts to registrar (filleted) - small 18.2
N.B.M.Timber Products Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30th April 2021 |
| for |
| N.B.M.Timber Products Limited |
| N.B.M.Timber Products Limited (Registered number: 00327516) |
| Contents of the Financial Statements |
| for the year ended 30th April 2021 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| N.B.M.Timber Products Limited |
| Company Information |
| for the year ended 30th April 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Princes House |
| Wright Street |
| Hull |
| East Yorkshire |
| HU2 8HX |
| BANKERS: |
| Humber & Lincolnshire Team |
| 4th Floor |
| 2 Humber Quays |
| Hull |
| HU1 2BN |
| N.B.M.Timber Products Limited (Registered number: 00327516) |
| Abridged Balance Sheet |
| 30th April 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| N.B.M.Timber Products Limited (Registered number: 00327516) |
| Abridged Balance Sheet - continued |
| 30th April 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| N.B.M.Timber Products Limited (Registered number: 00327516) |
| Notes to the Financial Statements |
| for the year ended 30th April 2021 |
| 1. | STATUTORY INFORMATION |
| N.B.M.Timber Products Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Government grants |
| Government grants are recognised using the accruals model. |
| Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. |
| Grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the assets to which they relate. |
| A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the company with no future related costs, is credited to income in the period in which it becomes receivable. |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| N.B.M.Timber Products Limited (Registered number: 00327516) |
| Notes to the Financial Statements - continued |
| for the year ended 30th April 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution scheme for certain senior employees, which requires contributions to be made to a separately administered fund. Contributions to the fund are determined by the company and are charged to the Income Statement as incurred. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST OR VALUATION |
| At 1st May 2020 |
| Additions |
| Disposals | ( |
) |
| At 30th April 2021 |
| DEPRECIATION |
| At 1st May 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30th April 2021 |
| NET BOOK VALUE |
| At 30th April 2021 |
| At 30th April 2020 |
| N.B.M.Timber Products Limited (Registered number: 00327516) |
| Notes to the Financial Statements - continued |
| for the year ended 30th April 2021 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 30th April 2021 is represented by: |
| Totals |
| £ |
| Valuation in 2015 | 230,681 |
| Cost | 2,647,120 |
| 2,877,801 |
| If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 659,675 | 653,155 |
| Aggregate depreciation | 386,693 | 366,253 |
| Value of land in freehold land and buildings | 450,000 | 450,000 |
| The net book value of tangible fixed assets includes £ 151,864 (2020 - £ 108,280 ) in respect of assets held under hire purchase contracts. |
| 5. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Commercial mortgage |
| The mortgage is secured by a charge on the freehold land and buildings. |
| 6. | ACCOUNTANTS |
| The accountants, cbaSadofskys, have signified their willingness to continue in office and a resolution to re-appoint them will be proposed at the next annual general meeting. |
| 7. | PENSION SCHEME |
| The company operates a defined contribution pension scheme for certain senior employees, which requires contributions to be made to a separately administered fund. Contributions to the fund are determined by the company and are charged to the Income Statement as disclosed in note 2. There were no outstanding or prepaid contributions at the balance sheet date. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| N.B.M.Timber Products Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of N.B.M.Timber Products Limited for the year ended 30th April 2021 which comprise the Income Statement, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of N.B.M.Timber Products Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of N.B.M.Timber Products Limited and state those matters that we have agreed to state to the Board of Directors of N.B.M.Timber Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than N.B.M.Timber Products Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that N.B.M.Timber Products 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 N.B.M.Timber Products Limited. You consider that N.B.M.Timber Products 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 N.B.M.Timber Products 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. |
| Chartered Accountants |
| Princes House |
| Wright Street |
| Hull |
| East Yorkshire |
| HU2 8HX |