PALMER TIMBER LIMITED

1. PALMER TIMBER LIMITED 1983-04-18 → present
2. W.H. PALMER (TIMBER) HOLDINGS LIMITED 1977-12-31 → 1983-04-18
3. W.H.PALMER(TIMBER)LIMITED 1941-02-11 → 1977-12-31

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors believe there are no material uncertainties that call into doubt the Company's ability to continue as a going concern and the accounts have therefore been prepared on the basis that the Company is a going concern. In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Significant events

• “In 2024 there is a reported pre tax loss of £629,112 (2023: £373,953 profit). Sales Revenue fell by £948,504 (2.6%) over the period to £35,379,187. This fall in revenues reflected a downturn in the markets into which the Company supplies its products as a result of the impact of higher interest rates and general economic and political uncertainty. Gross Profit as a percentage of sales fell in the period to 11.9% from 14.3% in the previous year as a result of falling prices in the timber market following a period of rapid inflation caused by supply chain difficulties during and immediately following the COVID pandemic. The downturn in demand for timber also led to significant discounting by competitors fighting for business.”
• “Although worldwide and domestic events over the past several years have threatened turbulence and created uncertainty, the outlook for the markets in which we operate has remained generally positive. They are however subject to the same headwinds as many other sectors and the slowdown caused by the conflicts in Ukraine and the Middle-East, the ongoing supply chain impacts caused by international political uncertainty and climate issues, political uncertainty in the UK and the cost of living crisis continue to pose threats to the economy generally.”
• “During the year, there was a breach in covenants for the bank loans amounting to £87,500. This breach was identified post year-end and subsequently waived by the bank. The waiver was received before the financial statements were approved, ensuring that the loan terms remain unchanged.”
• “The Company is aware of the 2023 ruling in the Virgin Media vs NTL Pension Trustee case and subsequent court of appeal ruling published in July 2024. These ruled that certain amendments made to the NTL Pension Plan were invalid because they were not accompanied by the correct actuarial confirmation. There remains significant uncertainty as to whether the judgments will result in additional liabilities for UK pension schemes and it is possible that the Department of Work & Pensions will introduce legislation to allow changes to be certified retrospectively.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -2.6%

  £36,327,691 → £35,379,187

• Cash

  —

  Not reported

• Net assets

  -12.8%

  £7,564,638 → £6,593,012

• Employees

  -1.1%

  87 → 86

• Operating profit

  -155.6%

  £618,855 → -£344,021

• Profit before tax

  -268.2%

  £373,953 → -£629,112

• Wages

  +11.1%

  £3,227,344 → £3,586,468

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers