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REGISTERED NUMBER: SC537245 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Central Woodchip Company Limited

Central Woodchip Company Limited (Registered number: SC537245)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Central Woodchip Company Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: J O'Brien





REGISTERED OFFICE: 5 Station Road
Stepps
Glasgow
G33 6HB





REGISTERED NUMBER: SC537245 (Scotland)





ACCOUNTANTS: Advantage Accounting (Scotland) Ltd
Pavilion 2
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU

Central Woodchip Company Limited (Registered number: SC537245)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 294,480 322,541

CURRENT ASSETS
Stocks 174,190 327,747
Debtors 5 395,289 400,731
Cash at bank 34,949 50,593
604,428 779,071
CREDITORS
Amounts falling due within one year 6 682,106 650,106
NET CURRENT (LIABILITIES)/ASSETS (77,678 ) 128,965
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,802

451,506

CREDITORS
Amounts falling due after more than one year 7 209,670 446,085
NET ASSETS 7,132 5,421

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 2,132 421
SHAREHOLDERS' FUNDS 7,132 5,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Central Woodchip Company Limited (Registered number: SC537245)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 February 2025 and were signed by:





J O'Brien - Director


Central Woodchip Company Limited (Registered number: SC537245)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Central Woodchip Company Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 15% on reducing balance and 5% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Central Woodchip Company Limited (Registered number: SC537245)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 499,380
Additions 1,500
At 30 June 2024 500,880
DEPRECIATION
At 1 July 2023 176,839
Charge for year 29,561
At 30 June 2024 206,400
NET BOOK VALUE
At 30 June 2024 294,480
At 30 June 2023 322,541

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 106,305 95,425
Other debtors 288,984 305,306
395,289 400,731

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 5,700 5,700
Trade creditors 254,944 241,508
Taxation and social security 79,054 30,412
Other creditors 342,408 372,486
682,106 650,106

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 29,078 34,866
Amounts owed to associates 180,592 207,052
Other creditors - 204,167
209,670 446,085

Central Woodchip Company Limited (Registered number: SC537245)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,278 12,066

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Lloyds Bank Commercial 86,827 68,160

The Bank of Scotland PLC holds a floating charge over the assets of the company.

The Lloyds Bank Commercial Finance Limited holds a floating charge over the assets of the company.

9. RELATED PARTY DISCLOSURES

Amounts due to group undertakings of £180,592 are unsecured and interest free.