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REGISTERED NUMBER: 11516255 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

POWELL FORESTRY LIMITED

POWELL FORESTRY LIMITED (REGISTERED NUMBER: 11516255)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POWELL FORESTRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: N Powell
T Compton





REGISTERED OFFICE: Beechcroft
Pickaxe Lane
South Warnborough
Hook
Hampshire
RG29 1SD





REGISTERED NUMBER: 11516255 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Grange House
Grange Road
Midhurst
West Sussex
GU29 9LS

POWELL FORESTRY LIMITED (REGISTERED NUMBER: 11516255)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 825,882 671,763

CURRENT ASSETS
Stocks 23,750 70,102
Debtors 5 380,400 519,243
Cash at bank 53,412 1,773
457,562 591,118
CREDITORS
Amounts falling due within one year 6 720,672 620,354
NET CURRENT LIABILITIES (263,110 ) (29,236 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

562,772

642,527

CREDITORS
Amounts falling due after more than one year 7 (303,046 ) (331,496 )

PROVISIONS FOR LIABILITIES (158,644 ) (100,858 )
NET ASSETS 101,082 210,173

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 100,982 210,073
101,082 210,173

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

POWELL FORESTRY LIMITED (REGISTERED NUMBER: 11516255)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:





N Powell - Director


POWELL FORESTRY LIMITED (REGISTERED NUMBER: 11516255)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Powell Forestry Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentational currency of the financial statements is in Pound Sterling (£) which is rounded to the nearest pound (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 section 1A. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

POWELL FORESTRY LIMITED (REGISTERED NUMBER: 11516255)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period using the sum of digits method. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 October 2022 908,855 86,228 3,313 998,396
Additions 142,877 161,694 - 304,571
Disposals - (7,197 ) - (7,197 )
At 30 September 2023 1,051,732 240,725 3,313 1,295,770
DEPRECIATION
At 1 October 2022 301,409 22,816 2,408 326,633
Charge for year 102,923 41,447 784 145,154
Eliminated on disposal - (1,899 ) - (1,899 )
At 30 September 2023 404,332 62,364 3,192 469,888
NET BOOK VALUE
At 30 September 2023 647,400 178,361 121 825,882
At 30 September 2022 607,446 63,412 905 671,763

The net book value of tangible fixed assets includes £526,627 (2022: £502,159) in respect of assets held under hire purchase contracts.

POWELL FORESTRY LIMITED (REGISTERED NUMBER: 11516255)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 370,835 510,676
Other debtors 9,565 8,567
380,400 519,243

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 20,000 20,000
Hire purchase contracts 132,800 130,112
Trade creditors 424,758 315,803
Amounts owed to group undertakings 24,890 85,000
Taxation and social security 88,806 66,306
Other creditors 29,418 3,133
720,672 620,354

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 35,180 55,181
Hire purchase contracts 267,866 276,315
303,046 331,496

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 400,666 406,427

The company credit cards are secured by a fixed and floating charge over the company assets.

9. RELATED PARTY DISCLOSURES

The ultimate parent company is Land & Forest Limited, a company incorporated in England.

Throughout the year the company was under the control of the directors who both have shareholding in the ultimate parent company.

Included under creditors in last year's accounts was a loan totalling £50,000 from Land & Forest Limited. This was fully repaid in the year.

During the year, the company paid £14,800 (2022 : £6,200) to a director for rent.