1 1 Norman Forestry Limited 09396029 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is forestry contractors Digita Accounts Production Advanced 6.30.9574.0 true 09396029 2023-07-01 2024-06-30 09396029 2024-06-30 09396029 core:RetainedEarningsAccumulatedLosses 2024-06-30 09396029 core:ShareCapital 2024-06-30 09396029 core:CurrentFinancialInstruments 2024-06-30 09396029 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 09396029 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 09396029 core:FurnitureFittingsToolsEquipment 2024-06-30 09396029 core:OtherPropertyPlantEquipment 2024-06-30 09396029 bus:SmallEntities 2023-07-01 2024-06-30 09396029 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09396029 bus:FilletedAccounts 2023-07-01 2024-06-30 09396029 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09396029 bus:RegisteredOffice 2023-07-01 2024-06-30 09396029 bus:Director1 2023-07-01 2024-06-30 09396029 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09396029 core:ComputerEquipment 2023-07-01 2024-06-30 09396029 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 09396029 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 09396029 core:PlantMachinery 2023-07-01 2024-06-30 09396029 countries:EnglandWales 2023-07-01 2024-06-30 09396029 2023-06-30 09396029 core:CostValuation 2023-06-30 09396029 core:FurnitureFittingsToolsEquipment 2023-06-30 09396029 core:OtherPropertyPlantEquipment 2023-06-30 09396029 2022-07-01 2023-06-30 09396029 2023-06-30 09396029 core:RetainedEarningsAccumulatedLosses 2023-06-30 09396029 core:ShareCapital 2023-06-30 09396029 core:CurrentFinancialInstruments 2023-06-30 09396029 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 09396029 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 09396029 core:FurnitureFittingsToolsEquipment 2023-06-30 09396029 core:OtherPropertyPlantEquipment 2023-06-30 xbrli:pure iso4217:GBP

Registration number: 09396029

Norman Forestry Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Norman Forestry Limited

(Registration number: 09396029)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

201,492

353,898

Investments

5

50

50

 

201,542

353,948

Current assets

 

Debtors

6

32,215

67,643

Creditors: Amounts falling due within one year

7

(128,784)

(172,693)

Net current liabilities

 

(96,569)

(105,050)

Total assets less current liabilities

 

104,973

248,898

Creditors: Amounts falling due after more than one year

7

(4,904)

(115,017)

Net assets

 

100,069

133,881

Capital and reserves

 

Called up share capital

100

100

Retained earnings

99,969

133,781

Shareholders' funds

 

100,069

133,881

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 April 2025
 

.........................................
Mr C R D Norman
Director

 

Norman Forestry Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Corner House
2 High Street
Aylesford
Kent
ME20 7BG
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Norman Forestry Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% written down value

Office equipment

33% on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Norman Forestry Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Norman Forestry Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

642

513,467

514,109

Disposals

-

(163,827)

(163,827)

At 30 June 2024

642

349,640

350,282

Depreciation

At 1 July 2023

610

159,601

160,211

Charge for the year

32

22,389

22,421

Eliminated on disposal

-

(33,842)

(33,842)

At 30 June 2024

642

148,148

148,790

Carrying amount

At 30 June 2024

-

201,492

201,492

At 30 June 2023

32

353,866

353,898

5

Investments

2024
£

2023
£

Investments in joint ventures

50

50

Joint ventures

£

Cost

At 1 July 2023

50

Provision

Carrying amount

At 30 June 2024

50

At 30 June 2023

50

6

Debtors

 

Norman Forestry Limited

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

Current

Note

2024
£

2023
£

Amounts owed by related parties

24,614

67,643

Other debtors

 

7,601

-

   

32,215

67,643

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

127,320

159,911

Trade creditors

 

-

227

Taxation and social security

 

-

10,429

Accruals and deferred income

 

800

800

Other creditors

 

664

1,326

 

128,784

172,693