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REGISTERED NUMBER: SC561008 (Scotland)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MAELOR SCOTLAND FOREST NURSERIES LIMITED

MAELOR SCOTLAND FOREST NURSERIES LIMITED (REGISTERED NUMBER: SC561008)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MAELOR SCOTLAND FOREST NURSERIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M W Harvey
A G Milne
H C G Stevens





REGISTERED OFFICE: East End
Earlston
Berwickshire
TD4 6JA





REGISTERED NUMBER: SC561008 (Scotland)





AUDITORS: D.R.E. & Co. (Audit) Limited
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG

MAELOR SCOTLAND FOREST NURSERIES LIMITED (REGISTERED NUMBER: SC561008)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 875,153 1,091,014

CURRENT ASSETS
Stocks 289,366 253,484
Debtors 6 168,768 1,432,517
Cash at bank 129,910 380,065
588,044 2,066,066
CREDITORS
Amounts falling due within one year 7 1,115,571 3,334,015
NET CURRENT LIABILITIES (527,527 ) (1,267,949 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

347,626

(176,935

)

PROVISIONS FOR LIABILITIES 9 18,734 70,480
NET ASSETS/(LIABILITIES) 328,892 (247,415 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 328,891 (247,416 )
328,892 (247,415 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by:





A G Milne - Director


MAELOR SCOTLAND FOREST NURSERIES LIMITED (REGISTERED NUMBER: SC561008)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Maelor Scotland Forest Nurseries Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts are for the individual entity only.

These financial statements are presented in (£) sterling, rounded to the nearest £1.

Going concern
The financial statements have been prepared under the going concern basis on the expectation that the company shall continue to operate for the foreseeable future and due to the continued support of the director and those involved.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - between 20% and 33% on straight line
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


MAELOR SCOTLAND FOREST NURSERIES LIMITED (REGISTERED NUMBER: SC561008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 697,662 858,686 7,782 44,418 1,608,548
Additions 28,149 11,834 63 - 40,046
At 31 December 2023 725,811 870,520 7,845 44,418 1,648,594
DEPRECIATION
At 1 January 2023 89,094 408,204 4,468 15,768 517,534
Charge for year 57,255 185,406 2,141 11,105 255,907
At 31 December 2023 146,349 593,610 6,609 26,873 773,441
NET BOOK VALUE
At 31 December 2023 579,462 276,910 1,236 17,545 875,153
At 31 December 2022 608,568 450,482 3,314 28,650 1,091,014


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts due from group undertakings 116,014 1,385,118
VAT 28,320 22,965
Prepayments 24,434 24,434
168,768 1,432,517

MAELOR SCOTLAND FOREST NURSERIES LIMITED (REGISTERED NUMBER: SC561008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 48,995 41,200
Tax 200,430 -
Amounts due to group undertakings 838,835 3,258,430
Accruals and deferred income 27,311 34,385
1,115,571 3,334,015

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 58,641 58,641
Between one and five years 293,207 29,321
In more than five years 557,093 -
908,941 87,962

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 18,734 70,480

Deferred
tax
£   
Balance at 1 January 2023 70,480
Provided during year (51,746 )
Balance at 31 December 2023 18,734

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aled Davies FCCA (Senior Statutory Auditor)
for and on behalf of D.R.E. & Co. (Audit) Limited

11. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements 50,320 -

12. RELATED PARTY DISCLOSURES

Exemption is taken of related party disclosures in respect of group transactions on the grounds that details of the subsidiary are included in publicly available consolidated accounts. These are available from the parent company's registered office at BSW Timber Ltd, East End, Earlston, Berwickshire, TD4 6JA.

MAELOR SCOTLAND FOREST NURSERIES LIMITED (REGISTERED NUMBER: SC561008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

13. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Binder Beteiligungsverwaltung GmbH, which is the parent undertaking of the largest group to consolidate these financial statements. The consolidated financial statements of Binder Beteiligungsverwaltung GmbH are available from 6263 Fügen, Tirol, Austria respectively.