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REGISTERED NUMBER: 12681143 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2024

FOR

MADDOX FORESTRY & ARB LTD

MADDOX FORESTRY & ARB LTD (REGISTERED NUMBER: 12681143)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MADDOX FORESTRY & ARB LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTOR: P E Maddox





REGISTERED OFFICE: 19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW





REGISTERED NUMBER: 12681143 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

MADDOX FORESTRY & ARB LTD (REGISTERED NUMBER: 12681143)

BALANCE SHEET
31ST JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 199,991 235,959

CURRENT ASSETS
Debtors 5 17,009 35,384
Cash at bank 38,726 28,070
55,735 63,454
CREDITORS
Amounts falling due within one year 6 76,406 47,900
NET CURRENT (LIABILITIES)/ASSETS (20,671 ) 15,554
TOTAL ASSETS LESS CURRENT
LIABILITIES

179,320

251,513

CREDITORS
Amounts falling due after more than one
year

7

(104,815

)

(162,208

)

PROVISIONS FOR LIABILITIES (49,998 ) (35,908 )
NET ASSETS 24,507 53,397

CAPITAL AND RESERVES
Called up share capital 100 1
Retained earnings 24,407 53,396
24,507 53,397

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

MADDOX FORESTRY & ARB LTD (REGISTERED NUMBER: 12681143)

BALANCE SHEET - continued
31ST JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17th February 2025 and were signed by:





P E Maddox - Director


MADDOX FORESTRY & ARB LTD (REGISTERED NUMBER: 12681143)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

Maddox Forestry & Arb Ltd is a private company, limited by shares , registered in England and Wales. 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.

The director has assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The director has not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Further, the director continues to support the company by way of director funding and has not indicated that such support will be withdrawn in the foreseeable future. Therefore the financial statements for the period ended 31st July 2024 have been prepared using the going concern basis of accounting.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

MADDOX FORESTRY & ARB LTD (REGISTERED NUMBER: 12681143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The director considers all financial instruments to be basic financial instruments in accordance with section 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Trade and other receivables and payables

Trade and other receivables and payables are measured at amortised cost which approximates to fair value given the short term nature of these assets and liabilities.

Trade receivables are valued at original invoice amount less an allowance for potentially un-collectable debts. Provision is made where there is objective evidence to suggest that the company will not be in a position to collect receivables as they fall due. Bad and Doubtful debts are written off in the profit and loss account on identification.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash commitments.

Interest Bearing Borrowings

Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost using the effective interest rate method, less any impairment losses.

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

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

MADDOX FORESTRY & ARB LTD (REGISTERED NUMBER: 12681143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2023 278,447
Additions 25,495
At 31st July 2024 303,942
DEPRECIATION
At 1st August 2023 42,488
Charge for year 61,463
At 31st July 2024 103,951
NET BOOK VALUE
At 31st July 2024 199,991
At 31st July 2023 235,959

The carrying amounts at the year end of fixed assets which the company has pledged as security for liabilities is £151,091 (2023 - £185,128).

MADDOX FORESTRY & ARB LTD (REGISTERED NUMBER: 12681143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st August 2023 213,189
Additions 13,995
At 31st July 2024 227,184
DEPRECIATION
At 1st August 2023 28,061
Charge for year 48,032
At 31st July 2024 76,093
NET BOOK VALUE
At 31st July 2024 151,091
At 31st July 2023 185,128

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,617 20,438
Other debtors 4,392 14,946
17,009 35,384

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 32,685 25,689
Trade creditors 4,090 11,761
Taxation and social security 21,357 -
Other creditors 18,274 10,450
76,406 47,900

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 104,815 132,208
Other creditors - 30,000
104,815 162,208