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COMPANY REGISTRATION NUMBER: 11717822
Woodland Forestry Limited
Filleted Unaudited Financial Statements
31 December 2023
Woodland Forestry Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
146,137
121,698
Current assets
Debtors
5
95,579
8,372
Cash at bank and in hand
165,185
144,754
---------
---------
260,764
153,126
Creditors: amounts falling due within one year
6
241,107
213,258
---------
---------
Net current assets/(liabilities)
19,657
( 60,132)
---------
---------
Total assets less current liabilities
165,794
61,566
---------
--------
Net assets
165,794
61,566
---------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
165,793
61,565
---------
--------
Shareholders funds
165,794
61,566
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Woodland Forestry Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mr S Dilley
Director
Company registration number: 11717822
Woodland Forestry Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 93 Box End Road, Kempston, Bedford, MK43 8RS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
190,274
28,400
218,674
Additions
73,151
73,151
---------
--------
---------
At 31 December 2023
263,425
28,400
291,825
---------
--------
---------
Depreciation
At 1 January 2023
77,562
19,414
96,976
Charge for the year
46,466
2,246
48,712
---------
--------
---------
At 31 December 2023
124,028
21,660
145,688
---------
--------
---------
Carrying amount
At 31 December 2023
139,397
6,740
146,137
---------
--------
---------
At 31 December 2022
112,712
8,986
121,698
---------
--------
---------
5. Debtors
2023
2022
£
£
Trade debtors
89,933
3,684
Other debtors
5,646
4,688
--------
-------
95,579
8,372
--------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
35,089
3,611
Social security and other taxes
27,618
4,914
Other creditors
178,400
204,733
---------
---------
241,107
213,258
---------
---------