Registered number
08066612
Nik Woods Tree Services Limited
Filleted Accounts
31 May 2024
Nik Woods Tree Services Limited
Registered number: 08066612
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 30,791 14,217
Current assets
Debtors 5 9,678 15,529
Cash at bank and in hand 16,809 7,488
26,487 23,017
Creditors: amounts falling due within one year 6 (37,129) (28,625)
Net current liabilities (10,642) (5,608)
Total assets less current liabilities 20,149 8,609
Creditors: amounts falling due after more than one year 7 (13,517) (484)
Provisions for liabilities (5,850) (2,701)
Net assets 782 5,424
Capital and reserves
Called up share capital 12 12
Profit and loss account 770 5,412
Shareholders' funds 782 5,424
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 statement of income and retained earnings has not been delivered to the Registrar of Companies.
……………………………………
N R Woods
Director
Approved by the board on 31 January 2025
Nik Woods Tree Services Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
The principal accounting policies adopted in the preparation of the accounts are set out below; they have remained unchanged from the previous period and have been consistently applied:
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, Section 1A (small entities). There have been no material departures from that standard.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and VAT. Turnover includes revenue earned from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulated amortisation and impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and 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:
Plant and machinery 10% on reducing balance
Motor vehicles 10% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1.00 1.00
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 10,000
At 31 May 2024 10,000
Amortisation
At 1 June 2023 10,000
At 31 May 2024 10,000
Net book value
At 31 May 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 June 2023 14,988 8,710 23,698
Additions - 19,995 19,995
At 31 May 2024 14,988 28,705 43,693
Depreciation
At 1 June 2023 7,572 1,909 9,481
Charge for the year 741 2,680 3,421
At 31 May 2024 8,313 4,589 12,902
Net book value
At 31 May 2024 6,675 24,116 30,791
At 31 May 2023 7,416 6,801 14,217
5 Debtors 2024 2023
£ £
Trade debtors 7,222 13,650
Other debtors 2,456 1,879
9,678 15,529
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 4,063 264
Trade creditors 546 2,104
Taxation and social security costs 6,311 11,074
Other creditors 26,209 15,183
37,129 28,625
7 Creditors: amounts falling due after more than one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 13,517 484
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases - 2,106
9 Other information
Nik Woods Tree Services Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Ralls House, Parklands Business Park, Forest Road, Denmead, Waterlooville, Hants, PO7 6XP.
Nik Woods Tree Services Limited 08066612 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts April 2024 N R Woods No description of principal activity 08066612 2022-06-01 2023-05-31 08066612 core:WithinOneYear 2023-05-31 08066612 core:AfterOneYear 2023-05-31 08066612 core:ShareCapital 2023-05-31 08066612 core:RetainedEarningsAccumulatedLosses 2023-05-31 08066612 core:AllPeriods 2023-05-31 08066612 2023-06-01 2024-05-31 08066612 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08066612 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08066612 bus:Director40 2023-06-01 2024-05-31 08066612 1 2023-06-01 2024-05-31 08066612 2 2023-06-01 2024-05-31 08066612 core:PlantMachinery 2023-06-01 2024-05-31 08066612 core:Vehicles 2023-06-01 2024-05-31 08066612 countries:England 2023-06-01 2024-05-31 08066612 bus:FRS102 2023-06-01 2024-05-31 08066612 bus:FilletedAccounts 2023-06-01 2024-05-31 08066612 2024-05-31 08066612 core:WithinOneYear 2024-05-31 08066612 core:AfterOneYear 2024-05-31 08066612 core:ShareCapital 2024-05-31 08066612 core:RetainedEarningsAccumulatedLosses 2024-05-31 08066612 core:Goodwill 2024-05-31 08066612 core:PlantMachinery 2024-05-31 08066612 core:Vehicles 2024-05-31 08066612 core:AllPeriods 2024-05-31 08066612 2023-05-31 08066612 core:Goodwill 2023-05-31 08066612 core:PlantMachinery 2023-05-31 08066612 core:Vehicles 2023-05-31 iso4217:GBP xbrli:pure