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REGISTERED NUMBER: SC568615 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Michael Ramage Forestry Ltd

Michael Ramage Forestry Ltd (Registered number: SC568615)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Michael Ramage Forestry Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M P Ramage
Mrs J Ramage





REGISTERED OFFICE: 47-49 The Square
Kelso
Roxburghshire
TD5 7HW





REGISTERED NUMBER: SC568615 (Scotland)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Michael Ramage Forestry Ltd (Registered number: SC568615)

Statement of Financial Position
30 June 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Property, plant and equipment 4 229,343 207,339
229,343 207,339

CURRENT ASSETS
Inventories 200,000 -
Debtors 5 457,832 377,422
Cash at bank 252,790 462,231
910,622 839,653
CREDITORS
Amounts falling due within one year 6 441,780 444,848
NET CURRENT ASSETS 468,842 394,805
TOTAL ASSETS LESS CURRENT
LIABILITIES

698,185

602,144

CREDITORS
Amounts falling due after more than one
year

7

-

(4,216

)

PROVISIONS FOR LIABILITIES (57,500 ) (52,000 )
NET ASSETS 640,685 545,928

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 640,585 545,828
640,685 545,928

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 directors acknowledge their 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.

Michael Ramage Forestry Ltd (Registered number: SC568615)

Statement of Financial Position - 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 Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





M P Ramage - Director


Michael Ramage Forestry Ltd (Registered number: SC568615)

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

1. 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred 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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Michael Ramage Forestry Ltd (Registered number: SC568615)

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

1. ACCOUNTING POLICIES - continued

Going concern
The directors have considered the company's financial position for a period of 12 months from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, these financial statements have been prepared on a going concern basis.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 10,000
AMORTISATION
At 1 July 2023
and 30 June 2024 10,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 96,096 264,997 1,123 362,216
Additions 36,736 51,365 - 88,101
Disposals (10,000 ) (5,995 ) - (15,995 )
At 30 June 2024 122,832 310,367 1,123 434,322
DEPRECIATION
At 1 July 2023 48,736 105,544 597 154,877
Charge for year 13,981 47,004 174 61,159
Eliminated on disposal (7,323 ) (3,734 ) - (11,057 )
At 30 June 2024 55,394 148,814 771 204,979
NET BOOK VALUE
At 30 June 2024 67,438 161,553 352 229,343
At 30 June 2023 47,360 159,453 526 207,339

Michael Ramage Forestry Ltd (Registered number: SC568615)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors 450,995 375,121
Prepayments 6,837 2,301
457,832 377,422

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Hire purchase contracts 4,216 8,100
Trade creditors 29,070 14,280
Tax 45,826 102,669
VAT 67,979 142,811
Directors' current accounts 216,705 174,348
Accrued expenses 77,984 2,640
441,780 444,848

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/24 30/6/23
£    £   
Hire purchase contracts - 4,216