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REGISTERED NUMBER: SC255830 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Eric Boyd Forestry Limited

Eric Boyd Forestry Limited (Registered number: SC255830)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Eric Boyd Forestry Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: E A Boyd
Mrs M Boyd





SECRETARY: Mrs M Boyd





REGISTERED OFFICE: McLay, McAlister & McGibbon
145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC255830 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Eric Boyd Forestry Limited (Registered number: SC255830)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 1,500
Tangible assets 5 105,021 128,697
105,021 130,197

CURRENT ASSETS
Stocks 140,345 143,341
Debtors 6 407,062 141,242
Cash at bank 152,701 117,427
700,108 402,010
CREDITORS
Amounts falling due within one year 7 (283,699 ) (127,892 )
NET CURRENT ASSETS 416,409 274,118
TOTAL ASSETS LESS CURRENT
LIABILITIES

521,430

404,315

CREDITORS
Amounts falling due after more than one
year

8

(49,386

)

(80,082

)

PROVISIONS FOR LIABILITIES (26,255 ) (32,170 )
NET ASSETS 445,789 292,063

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 445,689 291,963
SHAREHOLDERS' FUNDS 445,789 292,063

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Eric Boyd Forestry Limited (Registered number: SC255830)

Balance Sheet - continued
30 November 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 19 August 2024 and were signed on its behalf by:





E A Boyd - Director


Eric Boyd Forestry Limited (Registered number: SC255830)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Eric Boyd Forestry Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements

Turnover
Turnover represents net invoiced sales of services, excluding value added tax

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Eric Boyd Forestry Limited (Registered number: SC255830)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 30,000
AMORTISATION
At 1 December 2022 28,500
Charge for year 1,500
At 30 November 2023 30,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 1,500

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 200,255
Additions 11,331
At 30 November 2023 211,586
DEPRECIATION
At 1 December 2022 71,558
Charge for year 35,007
At 30 November 2023 106,565
NET BOOK VALUE
At 30 November 2023 105,021
At 30 November 2022 128,697

Included within the net book value above are assets held under hire purchase agreements of £81,414 (2022: £108,553).

Eric Boyd Forestry Limited (Registered number: SC255830)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 389,241 126,138
Other debtors 17,821 15,104
407,062 141,242

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 20,697 20,697
Trade creditors 1,126 1,186
Taxation and social security 225,775 91,124
Other creditors 36,101 14,885
283,699 127,892

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 33,552 54,249
Other creditors 15,834 25,833
49,386 80,082

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Hire purchase contracts 54,249 74,946

Amounts owed on hire purchase agreements are secured over the asset to which they relate.