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REGISTERED NUMBER: 07196980 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

S P J Forestry Limited

S P J Forestry Limited (Registered number: 07196980)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S P J Forestry Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S P Jones
Mrs C D Jones





REGISTERED OFFICE: Goleugoed
Llanwnog
Caersws
Powys
SY17 5PA





REGISTERED NUMBER: 07196980 (England and Wales)





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

S P J Forestry Limited (Registered number: 07196980)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,552,594 1,614,795

CURRENT ASSETS
Stocks 50,000 82,750
Debtors 5 25,926 24,694
Cash at bank 352,063 292,901
427,989 400,345
CREDITORS
Amounts falling due within one year 6 244,841 224,867
NET CURRENT ASSETS 183,148 175,478
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,735,742

1,790,273

PROVISIONS FOR LIABILITIES 273,304 272,549
NET ASSETS 1,462,438 1,517,724

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,462,338 1,517,624
SHAREHOLDERS' FUNDS 1,462,438 1,517,724

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

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

S P J Forestry Limited (Registered number: 07196980)

Statement of Financial Position - continued
31 December 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:




S P Jones - Director



Mrs C D Jones - Director


S P J Forestry Limited (Registered number: 07196980)

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


1. STATUTORY INFORMATION

S P J Forestry Limited is a private company, limited by shares , registered in England and Wales. 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
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 represents work done, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 10% on reducing balance

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

S P J Forestry Limited (Registered number: 07196980)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 101,365 2,377,121 2,478,486
Additions - 152,189 152,189
Disposals - (76,960 ) (76,960 )
At 31 December 2023 101,365 2,452,350 2,553,715
DEPRECIATION
At 1 January 2023 - 863,691 863,691
Charge for year - 151,839 151,839
Eliminated on disposal - (14,409 ) (14,409 )
At 31 December 2023 - 1,001,121 1,001,121
NET BOOK VALUE
At 31 December 2023 101,365 1,451,229 1,552,594
At 31 December 2022 101,365 1,513,430 1,614,795

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 1,194
Other debtors 25,926 23,500
25,926 24,694

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 91,216 10,095
Taxation and social security 100 698
Other creditors 153,525 214,074
244,841 224,867