Company registration number SC294029 (Scotland)
BRYAN MASSIE WOODLAND MANAGEMENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
BRYAN MASSIE WOODLAND MANAGEMENT LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
BRYAN MASSIE WOODLAND MANAGEMENT LTD
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF BRYAN MASSIE WOODLAND MANAGEMENT LTD
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bryan Massie Woodland Management Ltd for the year ended 30 June 2024 set out on pages 2 to 7 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.
This report is made solely to the board of directors of Bryan Massie Woodland Management Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Bryan Massie Woodland Management Ltd and state those matters that we have agreed to state to the board of directors of Bryan Massie Woodland Management Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bryan Massie Woodland Management Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Bryan Massie Woodland Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bryan Massie Woodland Management Ltd. You consider that Bryan Massie Woodland Management Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bryan Massie Woodland Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MMG Chartered Accountants
Chartered Accountants
182 High Street
Montrose
ANGUS
DD10 8PH
Scotland
20 March 2025
BRYAN MASSIE WOODLAND MANAGEMENT LTD
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
105,405
95,496
Current assets
Debtors
4
184,850
310,254
Cash at bank and in hand
245,977
51,008
430,827
361,262
Creditors: amounts falling due within one year
5
(143,724)
(126,491)
Net current assets
287,103
234,771
Total assets less current liabilities
392,508
330,267
Creditors: amounts falling due after more than one year
6
(15,000)
(30,000)
Provisions for liabilities
(19,287)
(12,072)
Net assets
358,221
288,195
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
358,220
288,194
Total equity
358,221
288,195
BRYAN MASSIE WOODLAND MANAGEMENT LTD
BALANCE SHEET (CONTINUED)
- 3 -
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 20 March 2025
Director
Company registration number SC294029 (Scotland)
BRYAN MASSIE WOODLAND MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information
Bryan Massie Woodland Management Ltd is a private company limited by shares incorporated in Scotland. The registered office is The Toll House, Craigo, Montrose, ANGUS, Scotland, DD10 9JY.
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 and profit on ordinary activities before taxation are attributable to woodland management.
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
0% reducing balance
Improvements to property
10% on reducing balance
Plant and equipment
25% on reducing balance
Equipment
25% on 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
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
BRYAN MASSIE WOODLAND MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
BRYAN MASSIE WOODLAND MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
3
Tangible fixed assets
Freehold land and buildings
Improvements to property
Plant and equipment
Equipment
Total
£
£
£
£
£
Cost
At 1 July 2023
18,160
17,758
152,798
2,130
190,846
Additions
36,846
36,846
Disposals
(4,060)
(1,389)
(5,449)
At 30 June 2024
18,160
17,758
185,584
741
222,243
Depreciation and impairment
At 1 July 2023
5,401
88,282
1,667
95,350
Depreciation charged in the year
1,234
25,257
103
26,594
Eliminated in respect of disposals
(3,761)
(1,345)
(5,106)
At 30 June 2024
6,635
109,778
425
116,838
Carrying amount
At 30 June 2024
18,160
11,123
75,806
316
105,405
At 30 June 2023
18,160
12,357
64,516
463
95,496
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
168,872
250,719
Other debtors
15,978
59,535
184,850
310,254
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,904
20,417
Corporation tax
58,790
32,721
Other taxation and social security
59,984
52,891
Other creditors
23,046
20,462
143,724
126,491
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
15,000
30,000
BRYAN MASSIE WOODLAND MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
7
Directors' transactions
The following advances and credits to a director subsisted during the year ended 30 June 2024:
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Mr B Massie -
-
-
26,897
26,897
-
26,897
26,897