Company registration number 02729984 (England and Wales)
KIELDER FOREST PRODUCTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
KIELDER FOREST PRODUCTS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
KIELDER FOREST PRODUCTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
25,722
36,013
Creditors: amounts falling due within one year
5
(100)
(10,099)
Net current assets
25,622
25,914
Capital and reserves
Called up share capital
30,002
30,002
Profit and loss reserves
(4,380)
(4,088)
Total equity
25,622
25,914

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 9 September 2024
S. G. Waugh
Director
Company Registration No. 02729984
KIELDER FOREST PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information

Kielder Forest Products Limited is a private company limited by shares incorporated in England and Wales. The registered office is Molesden House, Molesden, Morpeth, Northumberland, NE61 3QF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Equipment
25% reducing balance
1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

KIELDER FOREST PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Director
1
1
3
Tangible fixed assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 March 2023 and 29 February 2024
5,679
4,070
9,749
Depreciation and impairment
At 1 March 2023 and 29 February 2024
5,679
4,070
9,749
Carrying amount
At 29 February 2024
-
0
-
0
-
0
At 28 February 2023
-
0
-
0
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
25,722
36,013
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6
-
0
9,999
Corporation tax
100
100
100
10,099

The bank borrowings are secured by fixed and floating charges over the undertaking and all property and assets present and future.

KIELDER FOREST PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
6
Loans and overdrafts
2024
2023
£
£
Bank overdrafts
-
0
9,999
Payable within one year
-
0
9,999
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