Company Registration No. SC463269
TREES FOR LIFE ENTERPRISES LIMITED
T/A DUNDREGGAN REWILDING CENTRE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
TREES FOR LIFE ENTERPRISES LIMITED
T/A DUNDREGGAN REWILDING CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Page
Balance sheet
1
Notes to the financial statements
2 - 8
TREES FOR LIFE ENTERPRISES LIMITED
T/A DUNDREGGAN REWILDING CENTRE
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
780
-
0
Tangible assets
5
28,843
-
0
29,623
-
0
Current assets
Stocks
5,875
-
Debtors
6
65,455
-
0
Cash at bank and in hand
81,005
25,433
152,335
25,433
Creditors: amounts falling due within one year
7
(909,856)
(86,365)
Net current liabilities
(757,521)
(60,932)
Net liabilities
(727,898)
(60,932)
Reserves
Income and expenditure account
(727,898)
(60,932)
Members' funds
(727,898)
(60,932)

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
Mr S Micklewright
Director
Company Registration No. SC463269
TREES FOR LIFE ENTERPRISES LIMITED
T/A DUNDREGGAN REWILDING CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

Trees for Life Enterprises Limited is a private company limited by guarantee incorporated in Scotland. The registered office is 566 East Whins, The Park, Findhorn, Forres, Moray, IV36 3TH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Trees For Life. These consolidated financial statements are available from its registered office, 566 East Whins, The Park, Findhorn, Moray, IV36 3TH .

1.2
Going concern

At the balance sheet date, the company is in a net liability position of £727,898 (2023 - £60,932) and a net current liability position of £757,521 (2023 - £60,932).true

The parent charity has agreed to continue to support the company in the short to medium term in order to allow the company to continue in operation for the foreseeable future.

TREES FOR LIFE ENTERPRISES LIMITED
T/A DUNDREGGAN REWILDING CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies (Continued)
- 3 -
1.3
Turnover

Turnover represents net invoiced sales of goods and services arising from the provision of accommodation, outdoor education and training activities, which are wholly undertaken in the UK, excluding VAT.

 

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:

Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the product's, and the collectability of the receivables is fairly measured.

Services revenues are recognised as those services are provided to the customers.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
25% reducing balance
1.5
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% & 5% reducing balance
Plant and equipment
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.6
Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cashflows from other assets or groups of assets.

TREES FOR LIFE ENTERPRISES LIMITED
T/A DUNDREGGAN REWILDING CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies (Continued)
- 4 -
1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

TREES FOR LIFE ENTERPRISES LIMITED
T/A DUNDREGGAN REWILDING CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies (Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with the parent charity, Trees For Life, as a wholly owned subsidiary of the group.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
5,200
2,600
For other services
All other non-audit services
1,153
750
TREES FOR LIFE ENTERPRISES LIMITED
T/A DUNDREGGAN REWILDING CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
4
Intangible fixed assets
Other
£
Cost
At 1 February 2023
-
0
Additions
960
At 31 January 2024
960
Amortisation and impairment
At 1 February 2023
-
0
Amortisation charged for the year
180
At 31 January 2024
180
Carrying amount
At 31 January 2024
780
At 31 January 2023
-
0
5
Tangible fixed assets
Leasehold improvements
Plant and equipment
Total
£
£
£
Cost
At 1 February 2023
-
0
-
0
-
0
Additions
18,465
12,020
30,485
At 31 January 2024
18,465
12,020
30,485
Depreciation and impairment
At 1 February 2023
-
0
-
0
-
0
Depreciation charged in the year
156
1,486
1,642
At 31 January 2024
156
1,486
1,642
Carrying amount
At 31 January 2024
18,309
10,534
28,843
At 31 January 2023
-
0
-
0
-
0
TREES FOR LIFE ENTERPRISES LIMITED
T/A DUNDREGGAN REWILDING CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
52,247
-
0
Other debtors
3,134
-
0
Prepayments and accrued income
10,074
-
0
65,455
-
0
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,027
-
0
Taxation and social security
-
0
539
Other creditors
907,829
85,826
909,856
86,365
8
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Mark D Sanderson BSc CA
Statutory Auditor:
MacKenzie Kerr Limited
Date of audit report:
27 September 2024
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
952
-
0
TREES FOR LIFE ENTERPRISES LIMITED
T/A DUNDREGGAN REWILDING CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
11
Non-audit services provided by auditor

In common with many businesses of our size and nature we use our auditor to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

2024-01-312023-02-01false27 September 2024CCH SoftwareCCH Accounts Production 2024.200The trading activity of the company during the year is that of operating a visitor centre for conservation activities.
This audit opinion is unqualifiedMr Nigel James FraserMr S MicklewrightMs Jane CummingMr I P RichardsMr David RussellMr C G WardS Simfalsefalse
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