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Registration number: NI623501

John Courtney Tree Surgery Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

John Courtney Tree Surgery Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

John Courtney Tree Surgery Limited

Company Information

Director

Mr John Courtney

Company secretary

Mr John Courtney

Registered office

12 Blackstick Road
Killyhevlin Industrial Estate
Enniskillen
Co Fermanagh
BT74 4EJ

Accountants

CJ Maguire & Co Ltd
Chartered Accountants
42a Forthill Street
Enniskillen
Co Fermanagh
BT74 6AJ

 

John Courtney Tree Surgery Limited

(Registration number: NI623501)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

10,000

10,000

Tangible assets

5

1,196,204

1,319,782

 

1,206,204

1,329,782

Current assets

 

Stocks

6

89,139

114,964

Debtors

7

514,450

406,391

Cash at bank and in hand

 

171,602

198,232

 

775,191

719,587

Creditors: Amounts falling due within one year

(386,676)

(350,169)

Net current assets

 

388,515

369,418

Total assets less current liabilities

 

1,594,719

1,699,200

Creditors: Amounts falling due after more than one year

(92,990)

(401,109)

Accruals and deferred income

 

(29,950)

(29,275)

Net assets

 

1,471,779

1,268,816

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

1,471,769

1,268,806

Shareholders' funds

 

1,471,779

1,268,816

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

John Courtney Tree Surgery Limited

(Registration number: NI623501)
Abridged Balance Sheet as at 31 March 2023

Approved and authorised by the director on 3 October 2023
 

.........................................
Mr John Courtney
Company secretary and director

 

John Courtney Tree Surgery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
12 Blackstick Road
Killyhevlin Industrial Estate
Enniskillen
Co Fermanagh
BT74 4EJ
Northern Ireland

These financial statements were authorised for issue by the director on 3 October 2023.

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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

John Courtney Tree Surgery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Not amortised

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

John Courtney Tree Surgery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 34 (2022 - 26).

 

John Courtney Tree Surgery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2022

10,000

At 31 March 2023

10,000

Amortisation

Carrying amount

At 31 March 2023

10,000

At 31 March 2022

10,000

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

735,532

819,167

1,554,699

Additions

17,900

255,253

273,153

Disposals

(280,000)

(39,700)

(319,700)

At 31 March 2023

473,432

1,034,720

1,508,152

Depreciation

At 1 April 2022

-

234,917

234,917

Charge for the year

-

97,558

97,558

Eliminated on disposal

-

(20,527)

(20,527)

At 31 March 2023

-

311,948

311,948

Carrying amount

At 31 March 2023

473,432

722,772

1,196,204

At 31 March 2022

735,532

584,250

1,319,782

Included within the net book value of land and buildings above is £473,432 (2022 - £735,532) in respect of freehold land and buildings.
 

 

John Courtney Tree Surgery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

6

Stocks

2023
£

2022
£

Other inventories

89,139

114,964

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

         

9

Dividends

   

2023

 

2022

   

£

 

£

Final dividend of £Nil (2022 - £2,500.00) per ordinary share

 

42,350

 

25,000

Interim dividend of £5,000.00 (2022 - £500.00) per ordinary share

 

50,000

 

5,000

   

92,350

 

30,000

         

The director is recommending a final dividend of £Nil (2022 - £4,235.00) per share totalling £Nil (2022 - £42,350.00). This dividend has not been accrued in the balance sheet.

10

Related party transactions

 

John Courtney Tree Surgery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Transactions with the director

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr John Courtney

Transactions with directors

(22,623)

22,712

(7,038)

(6,949)

         
       

 

2022

At 1 April 2021
£

Repayments by director
£

At 31 March 2022
£

Mr John Courtney

Transactions with directors

(19,938)

(2,684)

(22,623)

       
     

 

 

John Courtney Tree Surgery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

11,709

11,500

Contributions paid to money purchase schemes

1,858

1,769

13,567

13,269