Silverfin false 31/03/2023 01/04/2022 31/03/2023 David John Blackwood 21/11/2022 12/12/2021 Daisy Jean Dunnett 21/11/2022 Dorothy Janette Dunnett 30/03/2020 John Harrison 12/12/2021 Nicholas Charles Harrison 21/11/2022 16/12/2021 03 November 2023 The principal activity of the Company during the financial year continued to be that of forestry management. SC658488 2023-03-31 SC658488 bus:Director1 2023-03-31 SC658488 bus:Director2 2023-03-31 SC658488 bus:Director3 2023-03-31 SC658488 bus:Director4 2023-03-31 SC658488 bus:Director5 2023-03-31 SC658488 2022-03-31 SC658488 core:CurrentFinancialInstruments 2023-03-31 SC658488 core:CurrentFinancialInstruments 2022-03-31 SC658488 core:ShareCapital 2023-03-31 SC658488 core:ShareCapital 2022-03-31 SC658488 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC658488 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC658488 core:OtherResidualIntangibleAssets 2022-03-31 SC658488 core:OtherResidualIntangibleAssets 2023-03-31 SC658488 core:PlantMachinery 2022-03-31 SC658488 core:PlantMachinery 2023-03-31 SC658488 bus:OrdinaryShareClass1 2023-03-31 SC658488 2022-04-01 2023-03-31 SC658488 bus:FullAccounts 2022-04-01 2023-03-31 SC658488 bus:SmallEntities 2022-04-01 2023-03-31 SC658488 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC658488 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC658488 bus:Director1 2022-04-01 2023-03-31 SC658488 bus:Director2 2022-04-01 2023-03-31 SC658488 bus:Director3 2022-04-01 2023-03-31 SC658488 bus:Director4 2022-04-01 2023-03-31 SC658488 bus:Director5 2022-04-01 2023-03-31 SC658488 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-04-01 2023-03-31 SC658488 core:PlantMachinery 2022-04-01 2023-03-31 SC658488 2021-04-01 2022-03-31 SC658488 core:OtherResidualIntangibleAssets 2022-04-01 2023-03-31 SC658488 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC658488 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC658488 (Scotland)

CARBON-ELITE (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

CARBON-ELITE (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

CARBON-ELITE (SCOTLAND) LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
CARBON-ELITE (SCOTLAND) LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 5,163 5,857
Tangible assets 4 3,198 3,998
8,361 9,855
Current assets
Debtors 5 15,415 413,738
Cash at bank and in hand 95,652 327,530
111,067 741,268
Creditors: amounts falling due within one year 6 ( 138,697) ( 767,581)
Net current liabilities (27,630) (26,313)
Total assets less current liabilities (19,269) (16,458)
Net liabilities ( 19,269) ( 16,458)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 19,369 ) ( 16,558 )
Total shareholders' deficit ( 19,269) ( 16,458)

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.

Directors' responsibilities:

The financial statements of Carbon-Elite (Scotland) Limited (registered number: SC658488) were approved and authorised for issue by the Director on 03 November 2023. They were signed on its behalf by:

Dorothy Janette Dunnett
Director
CARBON-ELITE (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
CARBON-ELITE (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Carbon-Elite (Scotland) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Morphie House, Morphie, St Cyrus, DD10 0AA, United Kingdom. The principal place of business is Fasque Estate Office, Balnakettle Farm, Laurencekirk, AB30 1DS.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for forest management services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer on the planting of trees.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2022 6,940 6,940
At 31 March 2023 6,940 6,940
Accumulated amortisation
At 01 April 2022 1,083 1,083
Charge for the financial year 694 694
At 31 March 2023 1,777 1,777
Net book value
At 31 March 2023 5,163 5,163
At 31 March 2022 5,857 5,857

4. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 April 2022 5,300 5,300
At 31 March 2023 5,300 5,300
Accumulated depreciation
At 01 April 2022 1,302 1,302
Charge for the financial year 800 800
At 31 March 2023 2,102 2,102
Net book value
At 31 March 2023 3,198 3,198
At 31 March 2022 3,998 3,998

5. Debtors

2023 2022
£ £
Other debtors 15,415 413,738

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 93,754 168,262
Other creditors 44,943 599,319
138,697 767,581

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2023 2022
£ £
Amounts due from/(to) entities in which the directors have an interest 0 304,575