Company registration number SC171093 (Scotland)
JOHN MORRISON TIMBER PRESERVATION LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
JOHN MORRISON TIMBER PRESERVATION LTD.
COMPANY INFORMATION
Directors
Mr J Morrison
Mr G A Morrison
(Appointed 3 October 2024)
Secretary
Mrs S M Morrison
Company number
SC171093
Registered office
Rootfield
Conon Bridge
Dingwall
Ross Shire
United Kingdom
IV7 8DN
Accountants
BK Plus Limited
7 Waterside Court
St. Helens
Merseyside
United Kingdom
WA9 1UA
JOHN MORRISON TIMBER PRESERVATION LTD.
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
JOHN MORRISON TIMBER PRESERVATION LTD.
BALANCE SHEET
AS AT
30 MARCH 2024
30 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
184,349
138,176
Current assets
Stocks
5,000
4,000
Debtors
4
199,612
209,150
Cash at bank and in hand
418,927
408,722
623,539
621,872
Creditors: amounts falling due within one year
5
(213,259)
(258,691)
Net current assets
410,280
363,181
Total assets less current liabilities
594,629
501,357
Creditors: amounts falling due after more than one year
6
(12,734)
(22,675)
Provisions for liabilities
(27,150)
(13,764)
Net assets
554,745
464,918
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
554,743
464,916
Total equity
554,745
464,918
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
JOHN MORRISON TIMBER PRESERVATION LTD.
BALANCE SHEET (CONTINUED)
AS AT
30 MARCH 2024
30 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 January 2025 and are signed on its behalf by:
Mr J Morrison
Director
Company registration number SC171093 (Scotland)
JOHN MORRISON TIMBER PRESERVATION LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
- 3 -
1
Accounting policies
Company information
John Morrison Timber Preservation Ltd. is a private company limited by shares incorporated in Scotland. The registered office is Rootfield, Conon Bridge, Dingwall, Ross Shire, United Kingdom, IV7 8DN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
no depreciation
Plant and equipment
15% reducing balance
Computers
25% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
JOHN MORRISON TIMBER PRESERVATION LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.6
Employee benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
13
14
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 31 March 2023
55,000
48,528
5,589
259,082
368,199
Additions
15,458
82,923
98,381
Disposals
(68,148)
(68,148)
At 30 March 2024
55,000
63,986
5,589
273,857
398,432
Depreciation and impairment
At 31 March 2023
29,432
5,589
195,002
230,023
Depreciation charged in the year
5,182
33,328
38,510
Eliminated in respect of disposals
(54,450)
(54,450)
At 30 March 2024
34,614
5,589
173,880
214,083
Carrying amount
At 30 March 2024
55,000
29,372
99,977
184,349
At 30 March 2023
55,000
19,096
64,080
138,176
JOHN MORRISON TIMBER PRESERVATION LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
124,472
121,718
Other debtors
75,140
87,432
199,612
209,150
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,819
31,311
Trade creditors
50,571
115,145
Corporation tax
38,787
29,401
Other creditors
114,082
82,834
213,259
258,691
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,734
22,675