Registered number
SC409897
Roland Forestry (UK) Ltd
Accounts
31 December 2023
Roland Forestry (UK) Ltd
Registered number: SC409897
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,532,242 1,021,741
Current assets
Stocks 46,207 38,888
Debtors 4 243,674 317,871
Cash at bank and in hand 938,830 844,871
1,228,711 1,201,630
Creditors: amounts falling due within one year 5 (1,288,052) (877,813)
Net current (liabilities)/assets (59,341) 323,817
Total assets less current liabilities 1,472,901 1,345,558
Provisions for liabilities (194,131) (194,131)
Net assets 1,278,770 1,151,427
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,278,768 1,151,425
Shareholders' funds 1,278,770 1,151,427
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Alfie Neville
Director
Approved by the board on 19 July 2024
Roland Forestry (UK) Ltd
Notes to the Accounts
for the year ended 31 December 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 12.5% straight line
Motor Vehicles 12.5% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Stocks
The company recognises a value of dry stock in respect of work done which has not been invoiced for at the reporting date. This requires an estimation of the value of timber on the forest floor which has not been gathered and sent to the company's customers at the reporting date. The carrying amount of stock at 31 December 2023 was £46,207 (2022: £38,888).
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 18
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 1,626,804 59,757 1,686,561
Additions 929,600 - 929,600
Disposals (555,000) - (555,000)
At 31 December 2023 2,001,404 59,757 2,061,161
Depreciation
At 1 January 2023 641,410 23,410 664,820
Charge for the year 245,203 7,332 252,535
On disposals (388,436) - (388,436)
At 31 December 2023 498,177 30,742 528,919
Net book value
At 31 December 2023 1,503,227 29,015 1,532,242
At 31 December 2022 985,394 36,347 1,021,741
4 Debtors 2023 2022
£ £
Trade debtors 243,674 317,871
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 374 999
Trade creditors 39,405 34,022
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,175,046 743,093
Corporation tax - (2,464)
Other taxes and social security costs 67,126 96,062
Other creditors 6,101 6,101
1,288,052 877,813
6 Controlling party
Roland Forestry (UK) Ltd is a subsidiary of Roland Forestry Ltd, a company registered in Ireland with its registered office at Boolyglass, Hugginstown, County Kilkenny, Ireland.
7 Other information
Roland Forestry (UK) Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
272 Bath Street
Glasgow
G2 4JR
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