Registered number
07007213
Weeks Forestry Limited
Unaudited Filleted Accounts
31 August 2024
Weeks Forestry Limited
Registered number: 07007213
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 806,950 595,416
Current assets
Debtors 4 688,828 850,145
Cash at bank and in hand 407,059 111,400
1,095,887 961,545
Creditors: amounts falling due within one year 5 (255,701) (209,991)
Net current assets 840,186 751,554
Total assets less current liabilities 1,647,136 1,346,970
Provisions for liabilities (201,737) (143,459)
Net assets 1,445,399 1,203,511
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,445,397 1,203,509
Shareholders' funds 1,445,399 1,203,511
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.
Mr J W Weeks
Director
Approved by the board on 13 January 2025
Weeks Forestry Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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.
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:
Leasehold property over 10 years
Plant and machinery 20% reducing balance/ over 3 years
Motor vehicles 25% reducing balance
Debtors/creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable/payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 24,125 916,178 84,370 1,024,673
Additions - 479,568 16,663 496,231
Disposals - (238,935) - (238,935)
At 31 August 2024 24,125 1,156,811 101,033 1,281,969
Depreciation
At 1 September 2023 7,239 379,878 42,140 429,257
Charge for the year 2,413 187,623 14,723 204,759
On disposals - (158,997) - (158,997)
At 31 August 2024 9,652 408,504 56,863 475,019
Net book value
At 31 August 2024 14,473 748,307 44,170 806,950
At 31 August 2023 16,886 536,300 42,230 595,416
4 Debtors 2024 2023
£ £
Trade debtors 344,757 240,543
Other debtors 344,071 609,602
688,828 850,145
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 31,481 10,515
Taxation and social security costs 95,219 36,290
Other creditors 129,001 163,186
255,701 209,991
6 Related party transactions
In the year, there were intercompany loans from/(to) the following related close companies controlled by the directors:
2024 2023
£ £
Weeks Haulage Limited 233,350 453,604
Weeks Holdings Limited 2,312 (198)
SW Woodland Management Limited 28,350 128,350
264,012 581,756
Relative of Director
Inlcuded in creditors within one year is a loan advanced from a relative of the director totalling £9,950 (2023 £9,950). The loan is interest free and repayable on demand.
7 Other information
Weeks Forestry Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Providence Court
Pynes Hill
Exeter
EX2 5JL
Weeks Forestry Limited 07007213 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts July 2024 Mr J W Weeks No description of principal activity 07007213 2022-09-01 2023-08-31 07007213 core:WithinOneYear 2023-08-31 07007213 core:ShareCapital 2023-08-31 07007213 core:RetainedEarningsAccumulatedLosses 2023-08-31 07007213 2023-09-01 2024-08-31 07007213 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07007213 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 07007213 bus:Director40 2023-09-01 2024-08-31 07007213 1 2023-09-01 2024-08-31 07007213 core:LandBuildings 2023-09-01 2024-08-31 07007213 core:PlantMachinery 2023-09-01 2024-08-31 07007213 core:Vehicles 2023-09-01 2024-08-31 07007213 countries:England 2023-09-01 2024-08-31 07007213 bus:FRS102 2023-09-01 2024-08-31 07007213 bus:FilletedAccounts 2023-09-01 2024-08-31 07007213 2024-08-31 07007213 core:WithinOneYear 2024-08-31 07007213 core:ShareCapital 2024-08-31 07007213 core:RetainedEarningsAccumulatedLosses 2024-08-31 07007213 core:LandBuildings 2024-08-31 07007213 core:PlantMachinery 2024-08-31 07007213 core:Vehicles 2024-08-31 07007213 2023-08-31 07007213 core:LandBuildings 2023-08-31 07007213 core:PlantMachinery 2023-08-31 07007213 core:Vehicles 2023-08-31 iso4217:GBP xbrli:pure