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REGISTERED NUMBER: SC598663 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Apex Forestry Ltd

Apex Forestry Ltd (Registered number: SC598663)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Apex Forestry Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: D Meldrum
Ms N Haley
R J Meldrum





REGISTERED OFFICE: 117 Tweedholm Avenue East
Walkerburn
Borders
EH43 6AP





REGISTERED NUMBER: SC598663 (Scotland)





ACCOUNTANTS: DAS Accountant
Cornerstone House
Station Road
Selkirk
Scottish Borders
TD7 5DJ

Apex Forestry Ltd (Registered number: SC598663)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,617 61,736

CURRENT ASSETS
Debtors 5 4,013 15,585
Cash at bank 26,581 22,413
30,594 37,998
CREDITORS
Amounts falling due within one year 6 45,358 47,405
NET CURRENT LIABILITIES (14,764 ) (9,407 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,853

52,329

CREDITORS
Amounts falling due after more than one
year

7

(15,838

)

(24,667

)

PROVISIONS FOR LIABILITIES (9,373 ) (9,077 )
NET ASSETS 10,642 18,585

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 10,641 18,584
SHAREHOLDERS' FUNDS 10,642 18,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Apex Forestry Ltd (Registered number: SC598663)

Balance Sheet - continued
31 July 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





D Meldrum - Director


Apex Forestry Ltd (Registered number: SC598663)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Apex Forestry Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.
Equipment - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

Apex Forestry Ltd (Registered number: SC598663)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 36,158 750 51,750 2,200 90,858
Additions 298 - - - 298
At 31 July 2023 36,456 750 51,750 2,200 91,156
DEPRECIATION
At 1 August 2022 5,648 313 20,961 2,200 29,122
Charge for year 3,645 75 7,697 - 11,417
At 31 July 2023 9,293 388 28,658 2,200 40,539
NET BOOK VALUE
At 31 July 2023 27,163 362 23,092 - 50,617
At 31 July 2022 30,510 437 30,789 - 61,736

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 2,369 11,689
Other debtors 1,644 3,896
4,013 15,585

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 10,614 8,059
Taxation and social security 16,558 9,811
Other creditors 18,186 29,535
45,358 47,405

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 1,085 -
Hire purchase contracts 14,753 24,667
15,838 24,667

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
1 Ordinary £1 1 1

Apex Forestry Ltd (Registered number: SC598663)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company was due the director D Meldrum £4,114 (2022 - £7,948). There are no specific repayment terms and no interest has been charged.