1 May 2023 false No description of principal activity Taxfiler 2024.6 SC695459business:PrivateLimitedCompanyLtd2023-05-012024-04-30 SC6954592023-04-30 SC6954592023-05-012024-04-30 SC695459business:AuditExempt-NoAccountantsReport2023-05-012024-04-30 SC695459business:FilletedAccounts2023-05-012024-04-30 SC6954592024-04-30 SC695459business:Director12023-05-012024-04-30 SC695459business:RegisteredOffice2023-05-012024-04-30 SC6954592023-04-30 SC695459core:WithinOneYear2024-04-30 SC695459core:WithinOneYear2023-04-30 SC695459core:ShareCapitalcore:PreviouslyStatedAmount2024-04-30 SC695459core:ShareCapitalcore:PreviouslyStatedAmount2023-04-30 SC695459core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-04-30 SC695459core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-04-30 SC695459core:PreviouslyStatedAmount2024-04-30 SC695459core:PreviouslyStatedAmount2023-04-30 SC695459business:SmallEntities2023-05-012024-04-30 SC695459countries:Scotland2023-05-012024-04-30 SC695459core:PlantMachinery2023-05-012024-04-30 SC695459core:FurnitureFittings2023-05-012024-04-30 SC695459core:ComputerEquipment2023-05-012024-04-30 SC695459core:PlantMachinery2023-04-30 SC695459core:FurnitureFittings2023-04-30 SC695459core:ComputerEquipment2023-04-30 SC695459core:PlantMachinery2024-04-30 SC695459core:FurnitureFittings2024-04-30 SC695459core:ComputerEquipment2024-04-30 SC695459business:OrdinaryShareClass12023-05-012024-04-30 SC695459business:OrdinaryShareClass12022-05-012023-04-30 SC6954592022-05-012023-04-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC695459 (Scotland)
Forestry ITC Ltd Unaudited accounts for the year ended 30 April 2024
Forestry ITC Ltd Unaudited accounts Contents
Page
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Forestry ITC Ltd Company Information for the year ended 30 April 2024
Director
Eloff Groenewald
Company Number
SC695459 (Scotland)
Registered Office
Summit House 4-5 Mitchell Street Edinburgh EH6 7BD United Kingdom
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Forestry ITC Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
27,964 
28,500 
Current assets
Debtors
2,273 
- 
Cash at bank and in hand
1,013 
3,000 
3,286 
3,000 
Creditors: amounts falling due within one year
(25,910)
(31,350)
Net current liabilities
(22,624)
(28,350)
Net assets
5,340 
150 
Capital and reserves
Called up share capital
150 
150 
Profit and loss account
5,190 
- 
Shareholders' funds
5,340 
150 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 January 2025 and were signed on its behalf by
Eloff Groenewald Director Company Registration No. SC695459
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Forestry ITC Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Forestry ITC Ltd is a private company, limited by shares, registered in Scotland, registration number SC695459. The registered office is Summit House, 4-5 Mitchell Street, Edinburgh, EH6 7BD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5% - straight line method
Fixtures & fittings
25% - straight line method
Computer equipment
25% - straight line method
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
28,500 
- 
- 
28,500 
Additions
- 
737 
326 
1,063 
At 30 April 2024
28,500 
737 
326 
29,563 
Depreciation
Charge for the year
1,500 
68 
31 
1,599 
At 30 April 2024
1,500 
68 
31 
1,599 
Net book value
At 30 April 2024
27,000 
669 
295 
27,964 
At 30 April 2023
28,500 
- 
- 
28,500 
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Forestry ITC Ltd Notes to the Accounts for the year ended 30 April 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,273 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
118 
369 
Taxes and social security
2,395 
1,660 
Loans from directors
22,136 
27,924 
Accruals
1,261 
1,397 
25,910 
31,350 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
150 Ordinary shares of £1 each
150 
150 
8
Transactions with related parties
At 30 April 2024, the Company owed the Director £18,665.54 (2023: £27,923.47). Amounts owed to directors are unsecured, interest-free and have no fixed terms of repayment.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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