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REGISTERED NUMBER: SC686139 (Scotland)















Unaudited Financial Statements for the Year Ended 31st January 2024

for

Newleaf Forestry Limited

Newleaf Forestry Limited (Registered number: SC686139)






Contents of the Financial Statements
for the Year Ended 31st January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Newleaf Forestry Limited

Company Information
for the Year Ended 31st January 2024







DIRECTORS: T M Tryon
Mrs E J Tryon





REGISTERED OFFICE: Bellevue
Keir
Thornhill
DG3 4DH





REGISTERED NUMBER: SC686139 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Newleaf Forestry Limited (Registered number: SC686139)

Balance Sheet
31st January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 4,000 6,000
Tangible assets 5 25,785 27,685
29,785 33,685

CURRENT ASSETS
Debtors 6 16,732 24,203
Cash at bank 21,112 18,053
37,844 42,256
CREDITORS
Amounts falling due within one year 7 (36,820 ) (30,449 )
NET CURRENT ASSETS 1,024 11,807
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,809

45,492

CREDITORS
Amounts falling due after more than one year 8 (12,567 ) (17,767 )

PROVISIONS FOR LIABILITIES (4,899 ) (5,260 )
NET ASSETS 13,343 22,465

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 13,242 22,364
13,343 22,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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.

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 11th June 2024 and were signed on its behalf by:



T M Tryon - Director


Newleaf Forestry Limited (Registered number: SC686139)

Notes to the Financial Statements
for the Year Ended 31st January 2024

1. STATUTORY INFORMATION

Newleaf Forestry 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. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Newleaf Forestry Limited (Registered number: SC686139)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events: it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2023
and 31st January 2024 10,000
AMORTISATION
At 1st February 2023 4,000
Charge for year 2,000
At 31st January 2024 6,000
NET BOOK VALUE
At 31st January 2024 4,000
At 31st January 2023 6,000

Newleaf Forestry Limited (Registered number: SC686139)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2023 37,146
Additions 5,369
At 31st January 2024 42,515
DEPRECIATION
At 1st February 2023 9,461
Charge for year 7,269
At 31st January 2024 16,730
NET BOOK VALUE
At 31st January 2024 25,785
At 31st January 2023 27,685

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,257 22,728
Other debtors 1,475 1,475
16,732 24,203

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,200 5,200
Taxation and social security 30,526 24,267
Other creditors 1,094 982
36,820 30,449

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 12,567 17,767

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £66,500 were paid to the directors .

The company operates a directors' current account. The amount owed by the company to the directors at the 31st January 2024 was £194 (2023 - £182). This sum is interest free and repayable on demand.