Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-2832022-03-01falseNo description of principal activity4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC152365 2022-03-01 2023-02-28 SC152365 2021-03-01 2022-02-28 SC152365 2023-02-28 SC152365 2022-02-28 SC152365 c:CompanySecretary1 2022-03-01 2023-02-28 SC152365 c:Director1 2022-03-01 2023-02-28 SC152365 c:Director2 2022-03-01 2023-02-28 SC152365 c:RegisteredOffice 2022-03-01 2023-02-28 SC152365 c:Agent1 2022-03-01 2023-02-28 SC152365 d:Buildings d:LongLeaseholdAssets 2022-03-01 2023-02-28 SC152365 d:Buildings d:LongLeaseholdAssets 2023-02-28 SC152365 d:Buildings d:LongLeaseholdAssets 2022-02-28 SC152365 d:PlantMachinery 2022-03-01 2023-02-28 SC152365 d:PlantMachinery 2023-02-28 SC152365 d:PlantMachinery 2022-02-28 SC152365 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 SC152365 d:MotorVehicles 2022-03-01 2023-02-28 SC152365 d:MotorVehicles 2023-02-28 SC152365 d:MotorVehicles 2022-02-28 SC152365 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 SC152365 d:FurnitureFittings 2022-03-01 2023-02-28 SC152365 d:FurnitureFittings 2023-02-28 SC152365 d:FurnitureFittings 2022-02-28 SC152365 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 SC152365 d:OfficeEquipment 2022-03-01 2023-02-28 SC152365 d:OfficeEquipment 2023-02-28 SC152365 d:OfficeEquipment 2022-02-28 SC152365 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 SC152365 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 SC152365 d:CurrentFinancialInstruments 2023-02-28 SC152365 d:CurrentFinancialInstruments 2022-02-28 SC152365 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 SC152365 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 SC152365 d:ShareCapital 2023-02-28 SC152365 d:ShareCapital 2022-02-28 SC152365 d:RetainedEarningsAccumulatedLosses 2023-02-28 SC152365 d:RetainedEarningsAccumulatedLosses 2022-02-28 SC152365 c:FRS102 2022-03-01 2023-02-28 SC152365 c:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 SC152365 c:FullAccounts 2022-03-01 2023-02-28 SC152365 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Registered number: SC152365










TULCHAN OF GLENISLA FOREST LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

 
TULCHAN OF GLENISLA FOREST LIMITED
 

COMPANY INFORMATION


DIRECTORS
D L Laird 
Ms E M Barr 




COMPANY SECRETARY
Thorntons Law LLP



REGISTERED NUMBER
SC152365



REGISTERED OFFICE
Whitehall House
33 Yeaman Shore

Dundee

DD1 4BJ




ACCOUNTANTS
EQ Accountants LLP
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ




BANKERS
The Royal Bank of Scotland PLC
3 High Street

Dundee

DD1 9LY





 
TULCHAN OF GLENISLA FOREST LIMITED
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TULCHAN OF GLENISLA FOREST LIMITED
FOR THE YEAR ENDED 28 FEBRUARY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tulchan of Glenisla Forest Limited for the year ended 28 February 2023 which comprise  the Statement of financial position 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 of Scotlandwe are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas -framework-preparation -of-accounts.

This report is made solely to the Board of directors of Tulchan of Glenisla Forest Limited, as a body, in accordance with the terms of our engagement letter dated 16 May 2018Our work has been undertaken solely to prepare for your approval the financial statements of Tulchan of Glenisla Forest Limited  and state those matters that we have agreed to state to the Board of directors of Tulchan of Glenisla Forest Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://icas.com/icas -framework-preparation -of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tulchan of Glenisla Forest Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Tulchan of Glenisla Forest 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 Tulchan of Glenisla Forest Limited. You consider that Tulchan of Glenisla Forest Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Tulchan of Glenisla Forest 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.

  



EQ Accountants LLP
 
Chartered Accountants
  
Westby
64 West High Street
Forfar
Angus
DD8 1BJ
24 October 2023
Page 1

 
TULCHAN OF GLENISLA FOREST LIMITED
REGISTERED NUMBER: SC152365

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
678,016
730,921

  
678,016
730,921

CURRENT ASSETS
  

Stocks
  
1,501
1,496

Debtors: amounts falling due within one year
 5 
111,354
81,918

Cash at bank and in hand
  
320,667
12,412

  
433,522
95,826

Creditors: amounts falling due within one year
 6 
(1,543,695)
(1,467,523)

NET CURRENT LIABILITIES
  
 
 
(1,110,173)
 
 
(1,371,697)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
(432,157)
(640,776)

  

NET LIABILITIES
  
(432,157)
(640,776)


CAPITAL AND RESERVES
  

Called up share capital 
  
1
1

Profit and loss account
  
(432,158)
(640,777)

  
(432,157)
(640,776)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 October 2023.


D L Laird
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
TULCHAN OF GLENISLA FOREST LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


GENERAL INFORMATION

Tulchan of Glenisla is limited by shares and incorporated in Scotland. The address of the registered office is Whitehall House, 33 Yeaman Shore, Dundee, DD1 4BJ and the company's registration number is SC152365. The company's place of business is the same as the registered office.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

These accounts have been prepared under the going concern basis. The company has net liabilities and is dependent on the continued support of the Kuhnle family and the Forest Property Trust.The Kuhnle family and the Forest Property Trust have confirmed that they will continue to provide support for the foreseeable future.

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
TULCHAN OF GLENISLA FOREST LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Property improvements
-
4% reducing balance
Plant and machinery
-
15% reducing balance
Tractors and vehicles
-
25% reducing balance
Furniture and fittings
-
15% reducing balance
Hydro Scheme
-
4% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

Page 4

 
TULCHAN OF GLENISLA FOREST LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2022 - 4).

Page 5

 


 
TULCHAN OF GLENISLA FOREST LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


4.


TANGIBLE FIXED ASSETS






Property improvements
Plant and machinery
Tractors and vehicles
Furniture and fittings
Hydro Scheme
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 March 2022
3,803
136,476
35,387
83,663
888,979
1,148,308


Additions
-
9,733
-
-
-
9,733


Disposals
-
(3,000)
-
-
-
(3,000)



At 28 February 2023

3,803
143,209
35,387
83,663
888,979
1,155,041



DEPRECIATION


At 1 March 2022
1,375
45,984
26,020
79,962
264,046
417,387


Charge for the year on owned assets
97
15,005
2,342
555
44,449
62,448


Disposals
-
(2,810)
-
-
-
(2,810)



At 28 February 2023

1,472
58,179
28,362
80,517
308,495
477,025



NET BOOK VALUE



At 28 February 2023
2,331
85,030
7,025
3,146
580,484
678,016



At 28 February 2022
2,428
90,492
9,367
3,701
624,933
730,921

Page 6

 
TULCHAN OF GLENISLA FOREST LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


DEBTORS

2023
2022
£
£


Other debtors
96,090
79,541

Prepayments and accrued income
15,264
2,377

111,354
81,918



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Other loans
1,398,780
1,415,741

Trade creditors
90,860
5,675

Other taxation and social security
12,805
1,145

Accruals and deferred income
41,250
44,962

1,543,695
1,467,523



Page 7