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REGISTERED NUMBER: 04934812 (England and Wales)


















SMERDON TREE SERVICES (STS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SMERDON TREE SERVICES (STS) LIMITED (REGISTERED NUMBER: 04934812)

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


SMERDON TREE SERVICES (STS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: D A Smerdon





SECRETARY: R Jones





REGISTERED OFFICE: The Old School
Commercial Street
Bedlinog
Treharris
Merthyr Tydfil
CF46 6RF





REGISTERED NUMBER: 04934812 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

SMERDON TREE SERVICES (STS) LIMITED (REGISTERED NUMBER: 04934812)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 409,881 495,460
Investment property 5 720,000 680,000
1,129,881 1,175,460

CURRENT ASSETS
Debtors 6 3,189,569 2,646,069
Cash at bank and in hand 145 190
3,189,714 2,646,259
CREDITORS
Amounts falling due within one year 7 (2,084,313 ) (2,057,862 )
NET CURRENT ASSETS 1,105,401 588,397
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,235,282

1,763,857

CREDITORS
Amounts falling due after more than one
year

8

(4,549,561

)

(4,122,634

)
NET LIABILITIES (2,314,279 ) (2,358,777 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 379,977 339,977
Retained earnings (2,694,257 ) (2,698,755 )
SHAREHOLDERS' FUNDS (2,314,279 ) (2,358,777 )

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 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.

SMERDON TREE SERVICES (STS) LIMITED (REGISTERED NUMBER: 04934812)

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2024 and were signed by:





D A Smerdon - Director


SMERDON TREE SERVICES (STS) LIMITED (REGISTERED NUMBER: 04934812)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Smerdon Tree Services (STS) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 as modified by the revaluation of certain assets.

There have been no material departures from Financial Reporting Standard 102 Section 1A.

Going Concern
As at 31 March 2024 there were net liabilities of £2,314,279. The director considers the going concern basis adopted for these financial statements to be appropriate, based upon his continued support and that of group companies.

Grants
Grants towards revenue expenditure are credited to income in the period to which they relate.

Turnover
Turnover represents amounts invoiced and to be invoiced in respect of forestry and logging services provided during the year, excluding value added tax.

Tangible fixed assets
Tangible fixed assets are initially recorded at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 shorter.

Land and buildings-2% on cost
Plant and machinery-10% - 25% per annum on cost
Fixtures and fittings-25% on cost
Motor vehicles-12.5% on cost
Race horses-33% on cost

Investment properties
Investment property is included at fair value. Gains are recognised in the profit and loss statement. Deferred taxation is provided on these gains at the rate expected to apply when the asset is sold.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.


SMERDON TREE SERVICES (STS) LIMITED (REGISTERED NUMBER: 04934812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred taxation
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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Employer financed retirement benefit scheme
In previous years the company made contributions into The Smerdon Tree Services (STS) Limited Employer Financed Retirement Benefit Scheme ("The Scheme") for the benefit of its officers, employees and their wider families.

In accordance with Financial Reporting Standard 102 Section 1A the company does not include the assets and liabilities of The Scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or other access to those present economic benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 26 ) .

SMERDON TREE SERVICES (STS) LIMITED (REGISTERED NUMBER: 04934812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Race
machinery Fittings vehicles horses Totals
£    £    £    £    £   
COST
At 1 April 2023 1,913,607 61,334 1,787,687 66,025 3,828,653
Additions 35,430 - 30,000 - 65,430
Disposals - - (25,796 ) (66,025 ) (91,821 )
At 31 March 2024 1,949,037 61,334 1,791,891 - 3,802,262
DEPRECIATION
At 1 April 2023 1,503,163 61,334 1,702,671 66,025 3,333,193
Charge for year 103,284 - 47,725 - 151,009
Eliminated on disposal - - (25,796 ) (66,025 ) (91,821 )
At 31 March 2024 1,606,447 61,334 1,724,600 - 3,392,381
NET BOOK VALUE
At 31 March 2024 342,590 - 67,291 - 409,881
At 31 March 2023 410,444 - 85,016 - 495,460


5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2023 680,000
Revaluations 40,000
At 31 March 2024 720,000
NET BOOK VALUE
At 31 March 2024 720,000
At 31 March 2023 680,000

£
Valuation in 2024 720,000

The investment property was valued on a fair value basis at 31 March 2024 by the director who does not have a formal valuation qualification. In valuing the property the director has considered the potential sales values.

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 481,515 282,926
Amounts owed by group undertakings 2,327,621 2,149,300
Other debtors 11,549 11,549
Social security and other tax 9,339 -
Prepayments and accrued income 180,502 40,022
3,010,526 2,483,797

SMERDON TREE SERVICES (STS) LIMITED (REGISTERED NUMBER: 04934812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 77,000 77,000
Deferred tax 102,043 85,272
179,043 162,272

Aggregate amounts 3,189,569 2,646,069

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 113,474 195,083
Other loans - 53,254
Hire purchase contracts and finance leases 41,844 168,622
Trade creditors 533,293 368,273
Social security and other taxes - 14,812
VAT 574,020 408,703
Other creditors 601,606 609,395
Director's current account 200,000 200,000
Accruals and deferred income 20,076 39,720
2,084,313 2,057,862

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 36,890 81,083
Hire purchase contracts and finance leases 726 47,843
Other creditors - 2-5 years 240,000 240,000
Other creditors due >5 years 2,528,467 2,458,466
Director's loan account 1,693,478 1,245,242
4,549,561 4,122,634

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 136,890 181,083
Hire purchase contracts and finance leases 42,570 216,465
179,460 397,548

The NatWest business interruption loan is secured on a fixed and floating charge over freehold property, Old School, Commercial Street, Bedlinog, Treharris, an asset held by another group company.

Hire purchase contracts and finance leases are secured on the asset to which they relate.

SMERDON TREE SERVICES (STS) LIMITED (REGISTERED NUMBER: 04934812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments regarding property rental of £49,645 (2023: £69,395) and regarding equipment rental of £2,030 (2023: £2,870).