IRIS Accounts Production v24.3.0.553 SC527258 director 1.3.23 29.2.24 29.2.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5272582023-02-28SC5272582024-02-29SC5272582023-03-012024-02-29SC5272582022-02-28SC5272582022-03-012023-02-28SC5272582023-02-28SC527258ns15:Scotland2023-03-012024-02-29SC527258ns14:PoundSterling2023-03-012024-02-29SC527258ns10:Director12023-03-012024-02-29SC527258ns10:PrivateLimitedCompanyLtd2023-03-012024-02-29SC527258ns10:SmallEntities2023-03-012024-02-29SC527258ns10:AuditExemptWithAccountantsReport2023-03-012024-02-29SC527258ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-29SC527258ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-29SC527258ns10:FullAccounts2023-03-012024-02-29SC52725812023-03-012024-02-29SC527258ns10:OrdinaryShareClass12023-03-012024-02-29SC527258ns10:CompanySecretary12023-03-012024-02-29SC527258ns10:RegisteredOffice2023-03-012024-02-29SC527258ns5:CurrentFinancialInstruments2024-02-29SC527258ns5:CurrentFinancialInstruments2023-02-28SC527258ns5:Non-currentFinancialInstruments2024-02-29SC527258ns5:Non-currentFinancialInstruments2023-02-28SC527258ns5:ShareCapital2024-02-29SC527258ns5:ShareCapital2023-02-28SC527258ns5:RetainedEarningsAccumulatedLosses2024-02-29SC527258ns5:RetainedEarningsAccumulatedLosses2023-02-28SC527258ns5:NetGoodwill2023-03-012024-02-29SC527258ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-29SC527258ns5:PlantMachinery2023-03-012024-02-29SC527258ns5:NetGoodwill2023-02-28SC527258ns5:NetGoodwill2024-02-29SC527258ns5:NetGoodwill2023-02-28SC527258ns5:PlantMachinery2023-02-28SC527258ns5:PlantMachinery2024-02-29SC527258ns5:PlantMachinery2023-02-28SC527258ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-02-28SC527258ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-012024-02-29SC527258ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-02-29SC527258ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-02-28SC527258ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-29SC527258ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-28SC527258ns5:DeferredTaxation2023-02-28SC527258ns5:DeferredTaxation2023-03-012024-02-29SC527258ns5:DeferredTaxation2024-02-29SC527258ns10:OrdinaryShareClass12024-02-29SC527258ns5:RetainedEarningsAccumulatedLosses2023-02-28SC527258ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-29
REGISTERED NUMBER: SC527258 (Scotland)















Johnston Forestry Limited

Financial Statements For The Year Ended 29 February 2024






Johnston Forestry Limited (Registered number: SC527258)






Contents of the Financial Statements
For The Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Johnston Forestry Limited

Company Information
For The Year Ended 29 February 2024







DIRECTOR: N M Johnston





SECRETARY: K L V Johnston





REGISTERED OFFICE: Park House Centre
South Street
Elgin
Moray
IV30 1JB





REGISTERED NUMBER: SC527258 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

Johnston Forestry Limited (Registered number: SC527258)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 22,784 25,896
22,784 25,896

CURRENT ASSETS
Debtors 6 82,094 59,460
Cash at bank 77 4,699
82,171 64,159
CREDITORS
Amounts falling due within one year 7 92,003 67,916
NET CURRENT LIABILITIES (9,832 ) (3,757 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,952

22,139

CREDITORS
Amounts falling due after more than one
year

8

(8,230

)

(14,814

)

PROVISIONS FOR LIABILITIES 9 (4,329 ) (4,920 )
NET ASSETS 393 2,405

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 293 2,305
SHAREHOLDERS' FUNDS 393 2,405

Johnston Forestry Limited (Registered number: SC527258)

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 29 November 2024 and were signed by:





N M Johnston - Director


Johnston Forestry Limited (Registered number: SC527258)

Notes to the Financial Statements
For The Year Ended 29 February 2024

1. STATUTORY INFORMATION

Johnston 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 2016, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 25% on reducing balance and 15% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Johnston Forestry Limited (Registered number: SC527258)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 10,000
AMORTISATION
At 1 March 2023
and 29 February 2024 10,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 March 2023 44,401
Additions 3,391
At 29 February 2024 47,792
DEPRECIATION
At 1 March 2023 18,505
Charge for year 6,503
At 29 February 2024 25,008
NET BOOK VALUE
At 29 February 2024 22,784
At 28 February 2023 25,896

Johnston Forestry Limited (Registered number: SC527258)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Equipment
£   
COST
At 1 March 2023
and 29 February 2024 35,096
DEPRECIATION
At 1 March 2023 14,255
Charge for year 5,210
At 29 February 2024 19,465
NET BOOK VALUE
At 29 February 2024 15,631
At 28 February 2023 20,841

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 7,643 4,116
Other debtors 74,451 55,344
82,094 59,460

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 3,789 -
Hire purchase contracts 6,584 6,584
Taxation and social security 79,529 59,319
Other creditors 2,101 2,013
92,003 67,916

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 8,230 14,814

9. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 4,329 4,920

Johnston Forestry Limited (Registered number: SC527258)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2023 4,920
Provided during year (591 )
Balance at 29 February 2024 4,329

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 March 2023 2,305
Profit for the year 29,588
Dividends (31,600 )
At 29 February 2024 293

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £15,800 (2023 - £15,116) were paid to the director .

N M Johnston
is a director of the company


An interest free directors loan has been given from the company to the director. There are no repayment terms.

29.2.24 28.2.23
£    £   
Amount due from related party at the balance sheet date 55,972 41,717

13. ULTIMATE CONTROLLING PARTY

The company is under the joint control of N M Johnston and K L V Johnston

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Johnston Forestry Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Johnston Forestry Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Johnston Forestry Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Johnston Forestry Limited and state those matters that we have agreed to state to the director of Johnston Forestry Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Johnston Forestry Limited and its director for our work or for this report.

It is your duty to ensure that Johnston Forestry Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Johnston Forestry Limited. You consider that Johnston Forestry Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Johnston Forestry Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


29 November 2024