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REGISTERED NUMBER: SC692554 (Scotland)




















Pulse Forestry Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Pulse Forestry Ltd (Registered number: SC692554)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pulse Forestry Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Ms L Pan



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC692554 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
1 Bothwell Street
Dunfermline
KY11 3AG

Pulse Forestry Ltd (Registered number: SC692554)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 996 811
Investment property 5 184,630 184,630
185,626 185,441

CURRENT ASSETS
Debtors 6 21,776 22,314
Cash at bank 85,211 42,264
106,987 64,578
CREDITORS
Amounts falling due within one year 7 246,376 241,676
NET CURRENT LIABILITIES (139,389 ) (177,098 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,237

8,343

PROVISIONS FOR LIABILITIES 189 154
NET ASSETS 46,048 8,189

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 45,948 8,089
46,048 8,189

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Pulse Forestry Ltd (Registered number: SC692554)

Balance Sheet - continued
31 March 2024


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 31 October 2024 and were signed by:





Ms L Pan - Director


Pulse Forestry Ltd (Registered number: SC692554)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Pulse Forestry 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 and revenue recognition
Revenue represents rental income, excluding value added tax. Rental income is recognised based on rent due in accordance with the respective rent agreements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value is recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.


Pulse Forestry Ltd (Registered number: SC692554)

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

2. ACCOUNTING POLICIES - continued
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.

Provisions for liabilities
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

Pulse Forestry Ltd (Registered number: SC692554)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 1,216
Additions 885
At 31 March 2024 2,101
DEPRECIATION
At 1 April 2023 405
Charge for year 700
At 31 March 2024 1,105
NET BOOK VALUE
At 31 March 2024 996
At 31 March 2023 811

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 184,630
NET BOOK VALUE
At 31 March 2024 184,630
At 31 March 2023 184,630

Included in fair value of investment property is freehold land of £ 184,630 (2023 - £ 184,630 ) which is not depreciated.

The investment property was valued on an open market basis by the director, who is not a professional valuer, on 31 March 2024. In the opinion of the director, the fair value of the property as at 31 March 2024 is not materially different compared to 31 March 2023.

Pulse Forestry Ltd (Registered number: SC692554)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,076 14,394
Prepayments and accrued income 4,700 7,920
21,776 22,314

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 9,080 2,179
VAT 3,828 3,225
Director's current account 232,126 235,119
Accrued expenses 1,342 1,153
246,376 241,676

The director's current account is unsecured and has no fixed repayment period. Interest was charged at £1,000 per annum and the balance is repayable on demand.