Registered Number
(Scotland)
Unaudited Financial Statements for the Year ended
29 February 2024
Directors | |
Registered Address | |
Registered Number |
Notes | 2024 | 2023 | ||||||
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£ | £ | £ | £ | |||||
Fixed assets | ||||||||
Tangible assets | 3 | |||||||
Investments | 5 | |||||||
Investment property | 4 | |||||||
Current assets | ||||||||
Stocks | 6 | |||||||
Debtors | 7 | |||||||
Cash at bank and on hand | ||||||||
Creditors amounts falling due within one year | 8 | ( | ( | |||||
Net current assets (liabilities) | ||||||||
Total assets less current liabilities | ||||||||
Provisions for liabilities | 9 | ( | ( | |||||
Net assets | ||||||||
Capital and reserves | ||||||||
Called up share capital | ||||||||
Revaluation reserve | ||||||||
Profit and loss account | ||||||||
Shareholders' funds |
The financial statements were approved and authorised for issue by the Board of Directors on 15 August 2024, and are signed on its behalf by: |
Director |
Director Registered Company No. SC183096 |
1. | Accounting policies |
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Statutory information | |
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Basis of preparation | |
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Functional and presentation currency | |
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Judgements and key sources of estimation uncertainty | |
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The preparation of financial statements in conformity with FRS 102 requires management to make key judgements that affect the application of policies and reporting amounts of assets, income and expenses. The judgements that have a significant risk of causing a material adjustment are discussed below: Accounting treatment of standing timber Management deem a key area of judgement within these financial statements to be the accounting for standing timber and whether it should be classified as fixed assets or inventory. It is our assessment that based on the nature of this standing timber being held to maturity where it is then consumed, that it is deemed more appropriate to account for this as inventory as opposed to a fixed asset, in line with the definition of fixed assets set out in the Companies Act 2006. |
Turnover policy | |
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Foreign currency translation | |
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Current taxation | |
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Deferred tax | |
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Tangible fixed assets and depreciation | |
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Straight line (years) | ||
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Land and buildings | ||
Office Equipment |
Investments | |
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Investment property | |
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Stocks and work in progress | |
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Trade and other debtors | |
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Trade and other creditors | |
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Financial instruments | |
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2. | Average number of employees |
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2024 | 2023 | |||
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Average number of employees during the year |
3. | Tangible fixed assets |
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Land & buildings | Office Equipment | Total | ||||
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£ | £ | £ | ||||
Cost or valuation | ||||||
At 01 March 23 | ||||||
At 29 February 24 | ||||||
Depreciation and impairment | ||||||
At 01 March 23 | ||||||
Charge for year | ||||||
At 29 February 24 | ||||||
Net book value | ||||||
At 29 February 24 | ||||||
At 28 February 23 |
4. | Investment property |
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The 2022 valuations were made by G M Thomson & Co, on an open market value for existing use basis. The directors believe these valuations are still accurate at 29 February 2024. If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows: 2024 £476,135 2023 £476,135 |
£ | ||
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Fair value at 01 March 23 | ||
At 29 February 24 |
5. | Fixed asset investments |
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Other investments1 | Total | |||
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£ | £ | |||
Cost or valuation | ||||
At 01 March 23 | ||||
Additions | ||||
Revaluations | ( | ( | ||
Disposals | ( | ( | ||
At 29 February 24 | ||||
Net book value | ||||
At 29 February 24 | ||||
At 28 February 23 |
Notes | |
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1Other investments other than loans |
6. | Stocks |
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2024 | 2023 | |||
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£ | £ | |||
Other stocks | ||||
Total |
7. | Debtors: amounts due within one year |
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2024 | 2023 | |||
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£ | £ | |||
Trade debtors / trade receivables | ||||
Other debtors | ||||
Prepayments and accrued income | ||||
Total |
8. | Creditors: amounts due within one year |
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2024 | 2023 | |||
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£ | £ | |||
Trade creditors / trade payables | ||||
Taxation and social security | ||||
Accrued liabilities and deferred income | ||||
Total |
9. | Provisions for liabilities |
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2024 | 2023 | |||
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£ | £ | |||
Net deferred tax liability (asset) | ||||
Total |
10. | Events after reporting date |
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