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REGISTERED NUMBER: SC330828 (Scotland)















Terra Firma Surveys Ltd

Financial Statements For The Year Ended 31 December 2023






Terra Firma Surveys Ltd (Registered number: SC330828)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Terra Firma Surveys Ltd

Company Information
For The Year Ended 31 December 2023







DIRECTOR: Mr I Stewart



REGISTERED OFFICE: 10 South Street
Elgin
Moray
IV30 1LE



REGISTERED NUMBER: SC330828 (Scotland)



ACCOUNTANTS: Cathedral Accountancy
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Royal Bank of Scotland
Elgin Branch
209 High Street
Elgin
Moray
IV30 1DL

Terra Firma Surveys Ltd (Registered number: SC330828)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,892 14,024

CURRENT ASSETS
Debtors 5 23,596 16,242
Cash at bank 41,981 48,853
65,577 65,095
CREDITORS
Amounts falling due within one year 6 11,483 19,584
NET CURRENT ASSETS 54,094 45,511
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,986

59,535

PROVISIONS FOR LIABILITIES 7 5,680 2,665
NET ASSETS 78,306 56,870

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 77,306 55,870
SHAREHOLDERS' FUNDS 78,306 56,870

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 director acknowledges his 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.

Terra Firma Surveys Ltd (Registered number: SC330828)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





Mr I C Stewart - Director


Terra Firma Surveys Ltd (Registered number: SC330828)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Terra Firma Surveys Ltd 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. 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 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.
Equipment - 33% on cost and 25% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Terra Firma Surveys Ltd (Registered number: SC330828)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
Equipment fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 39,582 2,671 13,695 55,948
Additions 4,672 - 18,698 23,370
Disposals - (390 ) (13,695 ) (14,085 )
At 31 December 2023 44,254 2,281 18,698 65,233
DEPRECIATION
At 1 January 2023 26,061 2,168 13,695 41,924
Charge for year 6,541 180 781 7,502
Eliminated on disposal - (390 ) (13,695 ) (14,085 )
At 31 December 2023 32,602 1,958 781 35,341
NET BOOK VALUE
At 31 December 2023 11,652 323 17,917 29,892
At 31 December 2022 13,521 503 - 14,024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 20,640 14,703
Other debtors 1,149 -
Prepayments 1,807 1,539
23,596 16,242

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Tax 5,900 8,510
VAT 309 2,520
Sundry creditors 1,117 4,246
Directors' current accounts 505 423
Accrued expenses 3,652 3,885
11,483 19,584

7. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 5,680 2,665

Terra Firma Surveys Ltd (Registered number: SC330828)

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

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 2,665
Provided during year 3,015
Balance at 31 December 2023 5,680

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary 1 1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1 January 2023 55,870
Profit for the year 37,936
Dividends (16,500 )
At 31 December 2023 77,306

10. RELATED PARTY DISCLOSURES

At 31 December 2022 the company owed the director £423. During the year the director met expenses totalling £83 on behalf of the company . At 31 December 2023 the company owed the director £506. This loan is interest free and has no fixed terms of repayment.