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REGISTERED NUMBER: 04975930 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Midland Forestry Limited

Midland Forestry Limited (Registered number: 04975930)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Midland Forestry Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: P Nowell





REGISTERED OFFICE: Leofric House
Binley Road
Coventry
CV3 1JN





REGISTERED NUMBER: 04975930 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

Midland Forestry Limited (Registered number: 04975930)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 356,868 323,717
Investments 6 4 3
356,872 323,720

CURRENT ASSETS
Stocks 25,000 40,000
Debtors 7 290,012 314,186
Cash at bank 162,497 134,177
477,509 488,363
CREDITORS
Amounts falling due within one year 8 295,150 289,797
NET CURRENT ASSETS 182,359 198,566
TOTAL ASSETS LESS CURRENT
LIABILITIES

539,231

522,286

CREDITORS
Amounts falling due after more than one
year

9

(8,620

)

(26,796

)

PROVISIONS FOR LIABILITIES (86,497 ) (76,250 )
NET ASSETS 444,114 419,240

CAPITAL AND RESERVES
Called up share capital 40 55
Share premium 66,637 66,637
Capital Redemption Reserve 11 100 85
Retained earnings 377,337 352,463
SHAREHOLDERS' FUNDS 444,114 419,240

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Midland Forestry Limited (Registered number: 04975930)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 December 2024 and were signed by:





P Nowell - Director


Midland Forestry Limited (Registered number: 04975930)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Midland Forestry 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 presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Midland Forestry Limited (Registered number: 04975930)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 15,000
AMORTISATION
At 1 October 2023
and 30 September 2024 15,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

Midland Forestry Limited (Registered number: 04975930)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 378,077 20,672 225,530 17,492 641,771
Additions 28,453 - 70,045 1,625 100,123
Disposals - - (5,500 ) - (5,500 )
At 30 September 2024 406,530 20,672 290,075 19,117 736,394
DEPRECIATION
At 1 October 2023 169,943 17,009 113,609 17,492 318,053
Charge for year 31,629 549 32,671 384 65,233
Eliminated on disposal - - (3,760 ) - (3,760 )
At 30 September 2024 201,572 17,558 142,520 17,876 379,526
NET BOOK VALUE
At 30 September 2024 204,958 3,114 147,555 1,241 356,868
At 30 September 2023 208,134 3,663 111,921 - 323,718

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 23,500 16,000 39,500
DEPRECIATION
At 1 October 2023 7,795 9,250 17,045
Charge for year 2,356 1,688 4,044
At 30 September 2024 10,151 10,938 21,089
NET BOOK VALUE
At 30 September 2024 13,349 5,062 18,411
At 30 September 2023 15,705 6,750 22,455

Midland Forestry Limited (Registered number: 04975930)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023 3
Additions 1
At 30 September 2024 4
NET BOOK VALUE
At 30 September 2024 4
At 30 September 2023 3

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 198,279 204,713
Other debtors 91,733 109,473
290,012 314,186

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 10,915 10,915
Hire purchase contracts 7,903 7,900
Trade creditors 46,547 39,497
Taxation and social security 124,902 129,928
Other creditors 104,883 101,557
295,150 289,797

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 7,304 17,579
Hire purchase contracts 1,316 9,217
8,620 26,796

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Hire purchase contracts 9,219 17,117

The hire purchase creditor is secured upon the assets purchased under each agreement.

Midland Forestry Limited (Registered number: 04975930)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. RESERVES
Capital
Redemption
Reserve
£   
At 1 October 2023 85
Purchase of own shares 15

At 30 September 2024 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
P Nowell
Balance outstanding at start of year 40,921 19,429
Amounts advanced 29,354 40,992
Amounts repaid (44,901 ) (19,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,374 40,921

Interest is charged on the above loans at commercial rate and they are repaid in full following the balance sheet date.

13. ULTIMATE CONTROLLING PARTY

With effect from 28 July 2022 following the company share buy back the ultimate controlling party is Mr & Mrs Nowell.

14. SHARE BUY BACK

On 29 July 2024 in accordance with clearance obtained from HMRC at the balance sheet date the company has now completed the fourth and final stage in respect of a company share buy back.
The final tranche of 15 shares out of a total 50 shares to be acquired for £72,000.00.