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REGISTERED NUMBER: 01831859 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Mendip Forestry Limited

Mendip Forestry Limited (Registered number: 01831859)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mendip Forestry Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: R J Austin





SECRETARY: R J Austin





REGISTERED OFFICE: Honeybridge
Brokerswood
Westbury
Wiltshire
BA13 4EG





REGISTERED NUMBER: 01831859 (England and Wales)

Mendip Forestry Limited (Registered number: 01831859)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 348,379 296,535
348,380 296,536

CURRENT ASSETS
Stocks 153,944 190,072
Debtors 6 1,025,972 1,395,433
Cash at bank and in hand 3,421,262 2,701,999
4,601,178 4,287,504
CREDITORS
Amounts falling due within one year 7 1,057,846 997,240
NET CURRENT ASSETS 3,543,332 3,290,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,891,712

3,586,800

PROVISIONS FOR LIABILITIES 14,068 493
NET ASSETS 3,877,644 3,586,307

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Other reserves 32,028 32,028
Retained earnings 3,844,616 3,553,279
SHAREHOLDERS' FUNDS 3,877,644 3,586,307

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

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

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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 April 2025 and were signed by:





R J Austin - Director


Mendip Forestry Limited (Registered number: 01831859)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Mendip Forestry Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the net invoiced value of the sale of goods, excluding Value Added Tax. Turnover is recognised at the point of despatch.

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.
Freehold property - 4% on a straight line basis
Plant and machinery - 30% on reducing balance, 20% on reducing balance and 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

No depreciation is charged on freehold land.

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 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 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.

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.

Mendip Forestry Limited (Registered number: 01831859)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 1
NET BOOK VALUE
At 31 July 2024 1
At 31 July 2023 1

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2023 253,688 86,471 8,077
Additions - - 112
Disposals - - -
At 31 July 2024 253,688 86,471 8,189
DEPRECIATION
At 1 August 2023 - 72,473 5,438
Charge for year - 4,114 275
Eliminated on disposal - - -
At 31 July 2024 - 76,587 5,713
NET BOOK VALUE
At 31 July 2024 253,688 9,884 2,476
At 31 July 2023 253,688 13,998 2,639

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 105,100 16,339 469,675
Additions 86,775 - 86,887
Disposals (32,300 ) - (32,300 )
At 31 July 2024 159,575 16,339 524,262
DEPRECIATION
At 1 August 2023 80,843 14,386 173,140
Charge for year 26,955 488 31,832
Eliminated on disposal (29,089 ) - (29,089 )
At 31 July 2024 78,709 14,874 175,883
NET BOOK VALUE
At 31 July 2024 80,866 1,465 348,379
At 31 July 2023 24,257 1,953 296,535

Mendip Forestry Limited (Registered number: 01831859)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 920,394 841,512
Amounts due by related undertakings - 391,617
Directors' current accounts - 64,512
Taxation recoverable 94,564 94,564
VAT 7,627 -
Prepayments 3,387 3,228
1,025,972 1,395,433

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 511,972 177,812
Taxation 122,199 89,769
Social security and other taxes 50,324 47,023
VAT - 17,226
Other creditors 104,782 80,035
Directors' current accounts 5,488 -
Accrued expenses 263,081 585,375
1,057,846 997,240

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
R J Austin
Balance outstanding at start of year 64,513 284,513
Amounts repaid (70,000 ) (220,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,487 ) 64,513

9. RELATED PARTY DISCLOSURES

Debtors includes £0.00 (2023: £391,617) due by a company under common control. There are no formal terms of repayment for this balance which is secured and interest-free. The balance brought forward has been repaid in full in the year.