2022-07-012023-06-302023-06-30false06599862Quercus Forest Products 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Quercus Forest Products Ltd

Registered Number
06599862
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

Quercus Forest Products Ltd
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

Faye Anne Johnson
Wayne Phillip Johnson
Jonathan Rylan Morris
Rylan Marek Morris

Registered Address

Whiteleaf Business Centre
11 Little Balmer
Buckingham
MK18 1TF

Registered Number

06599862 (England and Wales)
Quercus Forest Products Ltd
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5110,61156,512
110,61156,512
Current assets
Stocks6702,965605,918
Debtors7816,592808,318
Cash at bank and on hand32,146159,927
1,551,7031,574,163
Creditors amounts falling due within one year8(1,221,517)(1,214,812)
Net current assets (liabilities)330,186359,351
Total assets less current liabilities440,797415,863
Creditors amounts falling due after one year9(182,552)(210,000)
Net assets258,245205,863
Capital and reserves
Called up share capital800800
Share premium24,80024,800
Profit and loss account232,645180,263
Shareholders' funds258,245205,863
The financial statements were approved and authorised for issue by the Board of Directors on 27 October 2023, and are signed on its behalf by:
Rylan Marek Morris
Director
Registered Company No. 06599862
Quercus Forest Products Ltd
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year1211
5.Property, plant and equipment

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 July 222,751152,56820,646175,965
Additions-101,126-101,126
Disposals-(17,995)(2,528)(20,523)
At 30 June 232,751235,69918,118256,568
Depreciation and impairment
At 01 July 222,75197,10819,594119,453
Charge for year-45,9751,05247,027
On disposals-(17,995)(2,528)(20,523)
At 30 June 232,751125,08818,118145,957
Net book value
At 30 June 23-110,611-110,611
At 30 June 22-55,4601,05256,512
6.Stocks

2023

2022

££
Finished goods702,965605,918
Total702,965605,918
7.Debtors

2023

2022

££
Trade debtors / trade receivables759,318745,680
Other debtors34,04344,513
Prepayments and accrued income23,23118,125
Total816,592808,318
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables938,229937,305
Bank borrowings and overdrafts70,00070,000
Taxation and social security125,135123,769
Finance lease and HP contracts12,332-
Other creditors72,82034,662
Accrued liabilities and deferred income3,00149,076
Total1,221,5171,214,812
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts140,000210,000
Other creditors42,552-
Total182,552210,000
10.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts42,552-