Registered number
04438421
John Sanderson Forestry Limited
Unaudited Filleted Accounts
30 June 2023
John Sanderson Forestry Limited
Registered number: 04438421
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 41,305 28,084
Current assets
Debtors 4 13,316 16,716
Cash at bank and in hand 60,798 89,593
74,114 106,309
Creditors: amounts falling due within one year 5 (100,477) (122,764)
Net current liabilities (26,363) (16,455)
Total assets less current liabilities 14,942 11,629
Provisions for liabilities (361) (1,866)
Net assets 14,581 9,763
Capital and reserves
Called up share capital 1 1
Profit and loss account 14,580 9,762
Shareholder's funds 14,581 9,763
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Sanderson
Director
Approved by the board on 30 January 2024
John Sanderson Forestry Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% to 25% on written down value
Motor vehicles 25% on written down value
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 46,500 3,600 50,100
Additions 30,000 - 30,000
At 30 June 2023 76,500 3,600 80,100
Depreciation
At 1 July 2022 18,632 3,384 22,016
Charge for the year 16,736 43 16,779
At 30 June 2023 35,368 3,427 38,795
Net book value
At 30 June 2023 41,132 173 41,305
At 30 June 2022 27,868 216 28,084
4 Debtors 2023 2022
£ £
Trade debtors 8,560 16,716
Other debtors 4,756 -
13,316 16,716
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 8,660 24,349
Taxation and social security costs 5,373 15,673
Other creditors 86,444 82,742
100,477 122,764
6 Related party transactions
Mr J Sanderson controls the company by virtue of his shareholding. Dividends due to Mr Sanderson during the year amounted to £11500. These dividends were credited to his non-interest paying loan account against which regular withdrawals were made. At 30 June 2023 the company owed Mr Sanderson £81235 (2022: £82164).
7 Other information
John Sanderson Forestry Limited is a private company limited by shares and incorporated in England. Its registered office is:
25 Mill Brow
Windermere
Cumbria
LA23 2LZ
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