Registered number
06556230
DUGGAN FORESTRY LTD
Unaudited Filleted Accounts
30 April 2024
DUGGAN FORESTRY LTD
Registered number: 06556230
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 180,785 163,755
Current assets
Stocks - 223
Debtors 4 1,574 5,534
Cash at bank and in hand 5,466 21,029
7,040 26,786
Creditors: amounts falling due within one year 5 (97,749) (119,371)
Net current liabilities (90,709) (92,585)
Total assets less current liabilities 90,076 71,170
Provisions for liabilities (4,279) -
Net assets 85,797 71,170
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 12,838 -
Profit and loss account 72,859 71,070
Shareholders' funds 85,797 71,170
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Duggan
Director
Approved by the board on 6 January 2025
DUGGAN FORESTRY LTD
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 10% reducing balance
Fixtures, fittings, tools and equipment 10% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 162,883 3,190 166,073
Surplus on revaluation 17,117 - 17,117
At 30 April 2024 180,000 3,190 183,190
Depreciation
At 1 May 2023 - 2,318 2,318
Charge for the year - 87 87
At 30 April 2024 - 2,405 2,405
Net book value
At 30 April 2024 180,000 785 180,785
At 30 April 2023 162,883 872 163,755
4 Debtors 2024 2023
£ £
Other debtors 1,574 5,534
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 725 875
Taxation and social security costs 462 3,179
Other creditors 96,562 115,317
97,749 119,371
6 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 17,117 -
Deferred taxation arising on the revaluation of land and buildings (4,279) -
At 30 April 2024 12,838 -
7 Other information
DUGGAN FORESTRY LTD is a private company limited by shares and incorporated in England. Its registered office is:
Brulimar House
Jubilee Road
Middleton Road
Manchester
M24 2LX
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