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Registered Number: 05213747
England and Wales

 

 

 

FRANK HAIGHTON FORESTRY LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
Directors Mrs M L Haighton
Mr F E R Haighton
Jack Edward Haighton
Registered Number 05213747
Registered Office 1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
Accountants Dove Marsh & Jones
1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 August 2023.
Directors
The directors who served the company throughout the year were as follows:
Mrs M L Haighton
Mr F E R Haighton
Jack Edward Haighton
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr F E R Haighton
Director

Date approved: 11 April 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of Frank Haighton Forestry Ltd for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Frank Haighton Forestry Ltd for the year ended 31 August 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Frank Haighton Forestry Ltd, as a body, in accordance with the terms of our engagement letter dated 11 April 2024 Our work has been undertaken solely to prepare for your approval the accounts of Frank Haighton Forestry Ltd and state those matters that we have agreed to state to the Board of Directors of Frank Haighton Forestry Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Frank Haighton Forestry Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Frank Haighton Forestry Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Frank Haighton Forestry Ltd. You consider that Frank Haighton Forestry Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Frank Haighton Forestry Ltd. 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 accounts
31 August 2023



....................................................
Dove Marsh & Jones
1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
11 April 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 3,000    6,000 
Tangible fixed assets 4 299,365    344,765 
302,365    350,765 
Current assets      
Stocks 5 81,500    73,000 
Debtors 6 84,884    16,098 
Cash at bank and in hand 274,459    290,310 
440,843    379,408 
Creditors: amount falling due within one year 7 (124,455)   (79,634)
Net current assets 316,388    299,774 
 
Total assets less current liabilities 618,753    650,539 
Creditors: amount falling due after more than one year 8 (6,000)   (18,000)
Provisions for liabilities 9 (74,841)   (65,505)
Net assets 537,912    567,034 
 

Capital and reserves
     
Called up share capital 75    100 
Capital Redemption Reserve 10 50    25 
Profit and loss account 537,787    566,909 
Shareholder's funds 537,912    567,034 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 11 April 2024 and were signed on its behalf by:


-------------------------------
Mr F E R Haighton
Director
4
General Information
Frank Haighton Forestry Ltd is a private company, limited by shares, registered in England and Wales, registration number 05213747, registration address 1 Andromeda House, Calleva Park, Aldermaston, Berkshire, RG7 8AP. The trading address of the company is Netherton Valley Farm, Hurstbourne Tarrant, Andover, Hampshire, SP11 0DN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 20% Straight Line
Plant and Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 September 2022 60,000    60,000 
Additions  
Disposals  
At 31 August 2023 60,000    60,000 
Amortisation
At 01 September 2022 54,000    54,000 
Charge for year 3,000    3,000 
On disposals  
At 31 August 2023 57,000    57,000 
Net book values
At 31 August 2023 3,000    3,000 
At 31 August 2022 6,000    6,000 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 September 2022 1,819    747,385    61,735    1,195    3,602    815,736 
Additions   8,575    28,116      494    37,185 
Disposals     (11,000)       (11,000)
At 31 August 2023 1,819    755,960    78,851    1,195    4,096    841,921 
Depreciation
At 01 September 2022 1,819    430,438    36,039    560    2,115    470,971 
Charge for year   65,105    12,339    127    558    78,129 
On disposals     (6,544)       (6,544)
At 31 August 2023 1,819    495,543    41,834    687    2,673    542,556 
Net book values
Closing balance as at 31 August 2023   260,417    37,017    508    1,423    299,365 
Opening balance as at 01 September 2022   316,947    25,696    635    1,487    344,765 

The net book value of Plant and Machinery includes £ 62,053 (2022 £77,566) in respect of assets leased under finance leases or hire purchase contracts.

5.

Stocks

2023
£
  2022
£
Stocks 81,500    73,000 
81,500    73,000 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 2,653    3,680 
Other Debtors 41,750   
VAT 40,481    12,418 
84,884    16,098 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 35,196    13,600 
Corporation Tax 46,832    36,140 
PAYE & Social Security 1,366    1,453 
Accrued Expenses 11,346   
Obligations under HP/Financial Leases 12,000    12,000 
Directors' Current Accounts 17,715    16,441 
124,455    79,634 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Obligations Under HP/Financial Leases 6,000    18,000 
6,000    18,000 

9.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 74,841    65,505 
74,841    65,505 

10.

Capital Redemption Reserve

2023
£
  2022
£
Capital Redemption Reserve b/fwd 25   
Purchase of Own Shares (Nominal Value) 25    25 
50    25 

5