Silverfin false false 30/11/2024 01/12/2023 30/11/2024 P A Joy 08/07/2021 R D Joy 02/11/2001 05 February 2025 The principal activity of the Company during the financial year was the management and operation of the Company's woodlands. 04315686 2024-11-30 04315686 bus:Director1 2024-11-30 04315686 bus:Director2 2024-11-30 04315686 2023-11-30 04315686 core:CurrentFinancialInstruments 2024-11-30 04315686 core:CurrentFinancialInstruments 2023-11-30 04315686 core:ShareCapital 2024-11-30 04315686 core:ShareCapital 2023-11-30 04315686 core:RetainedEarningsAccumulatedLosses 2024-11-30 04315686 core:RetainedEarningsAccumulatedLosses 2023-11-30 04315686 core:LandBuildings 2023-11-30 04315686 core:LandBuildings 2024-11-30 04315686 bus:OrdinaryShareClass1 2024-11-30 04315686 2023-12-01 2024-11-30 04315686 bus:FilletedAccounts 2023-12-01 2024-11-30 04315686 bus:SmallEntities 2023-12-01 2024-11-30 04315686 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 04315686 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 04315686 bus:Director1 2023-12-01 2024-11-30 04315686 bus:Director2 2023-12-01 2024-11-30 04315686 2022-12-01 2023-11-30 04315686 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 04315686 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04315686 (England and Wales)

LANCEFIELD FORESTRY LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

LANCEFIELD FORESTRY LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

LANCEFIELD FORESTRY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2024
LANCEFIELD FORESTRY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 837,440 837,440
837,440 837,440
Current assets
Debtors 4 3,023 7,078
Cash at bank and in hand 2,731 2,403
5,754 9,481
Creditors: amounts falling due within one year 5 ( 107,666) ( 100,063)
Net current liabilities (101,912) (90,582)
Total assets less current liabilities 735,528 746,858
Net assets 735,528 746,858
Capital and reserves
Called-up share capital 6 3,750 3,750
Profit and loss account 731,778 743,108
Total shareholder's funds 735,528 746,858

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Lancefield Forestry Limited (registered number: 04315686) were approved and authorised for issue by the Board of Directors on 05 February 2025. They were signed on its behalf by:

R D Joy
Director
LANCEFIELD FORESTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
LANCEFIELD FORESTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lancefield Forestry Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 19 Pound Lane, Canterbury, CT1 2BZ, England, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Land and buildings were valued at 30 July 2020. The valuation was undertaken by William Johnson MA (Oxon) MSc CFA of Tilhill. This has since been reviewed by the directors and determined it represents the fair value of the woodland, on an open market value for existing use basis.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 December 2023 837,440 837,440
At 30 November 2024 837,440 837,440
Accumulated depreciation
At 01 December 2023 0 0
At 30 November 2024 0 0
Net book value
At 30 November 2024 837,440 837,440
At 30 November 2023 837,440 837,440

Revaluation of tangible assets

The woodlands were professionally valued by William Johnson MA (Oxon) MSc CFA of Tilhill, an independent valuer, to fair value at 30th July 2020. This has since been reviewed by the directors and determined it represents the fair value of the woodland, on an open market value for existing use basis.

2024 2023
£ £
Historical cost 177,758 177,758
Carrying value 177,758 177,758

4. Debtors

2024 2023
£ £
Prepayments 2,442 1,889
VAT recoverable 581 5,189
3,023 7,078

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 101,800 83,800
Accruals 2,400 2,000
Taxation and social security 3 1
Other creditors 3,463 14,262
107,666 100,063

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
375,000 Ordinary shares of £ 0.01 each 3,750 3,750

7. Related party transactions

At the year end, the Company owed the directors £101,800 (2023: £83,800). This loan is interest free and has no fixed date for repayment.

The Company has taken advantage of the exemption available under FRS 102 section 1.A.C 35 to not disclose transactions within a wholly owned group.