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Registration number: 06916350

Marley Head Timber and Biomass Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Marley Head Timber and Biomass Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 10

 

Marley Head Timber and Biomass Ltd

Company Information

Director

Mr Charles Reade

Registered office

Lower Knowle
Rattery
South Brent
Devon
TQ10 9JY

Accountants

Oakleys Professional Limited
14 St Owen Street
Hereford
HR1 2PL

 

Marley Head Timber and Biomass Ltd

Director's Report for the Year Ended 31 December 2024

The director presents his report and the financial statements for the year ended 31 December 2024.

Director of the company

The director who held office during the year was as follows:

Mr Charles Reade

Principal activity

The principal activity of the company is supply of timber and biomass woodchip

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 16 May 2025 and signed on its behalf by:

.........................................
Mr Charles Reade
Director

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Marley Head Timber and Biomass Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Marley Head Timber and Biomass Ltd for the year ended 31 December 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Marley Head Timber and Biomass Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Marley Head Timber and Biomass Ltd. You consider that Marley Head Timber and Biomass 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 accounts of Marley Head Timber and Biomass 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 accounts.

......................................

Oakleys Professional Limited
14 St Owen Street
Hereford
HR1 2PL

16 May 2025

 

Marley Head Timber and Biomass Ltd

(Registration number: 06916350)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

893,801

797,085

Current assets

 

Stocks

5

45,000

40,000

Debtors

291,369

36,290

Cash at bank and in hand

 

279,263

566,573

 

615,632

642,863

Creditors: Amounts falling due within one year

(898,077)

(831,696)

Net current liabilities

 

(282,445)

(188,833)

Total assets less current liabilities

 

611,356

608,252

Provisions for liabilities

(91,534)

(76,599)

Net assets

 

519,822

531,653

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

518,822

530,653

Shareholders' funds

 

519,822

531,653

For the financial year ending 31 December 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 16 May 2025
 

.........................................
Mr Charles Reade
Director

   
     
 

Marley Head Timber and Biomass Ltd

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 January 2024

1,000

530,652

531,652

Loss for the year

-

(11,830)

(11,830)

Total comprehensive income

-

(11,830)

(11,830)

At 31 December 2024

1,000

518,822

519,822

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

1,000

(49,973)

(48,973)

Prior period adjustment

-

676,024

676,024

At 1 January 2023 (As restated)

1,000

626,051

627,051

Loss for the year

-

(95,398)

(95,398)

At 31 December 2023

1,000

530,653

531,653

 

Marley Head Timber and Biomass Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Lower Knowle
Rattery
South Brent
Devon
TQ10 9JY
England

These financial statements were authorised for issue by the director on 16 May 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Marley Head Timber and Biomass Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

15% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Stocks

The directors have chosen the fair value model basis for the valuation of biological assets under FRS 102.

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.

Borrowings

 

Marley Head Timber and Biomass Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

3

Staff numbers

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

 

Marley Head Timber and Biomass Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

518,154

2,404

47,625

404,535

972,718

Additions

2,831

-

19,000

208,549

230,380

Disposals

(4,697)

-

-

(63,500)

(68,197)

At 31 December 2024

516,288

2,404

66,625

549,584

1,134,901

Depreciation

At 1 January 2024

28,980

1,732

14,439

130,482

175,633

Charge for the year

4,239

168

13,047

63,065

80,519

Eliminated on disposal

-

-

-

(15,052)

(15,052)

At 31 December 2024

33,219

1,900

27,486

178,495

241,100

Carrying amount

At 31 December 2024

483,069

504

39,139

371,089

893,801

At 31 December 2023

489,174

672

33,186

274,053

797,085

Included within the net book value of land and buildings above is £483,069 (2023 - £489,174) in respect of freehold land and buildings.
 

 

Marley Head Timber and Biomass Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Stocks

2024
£

2023
£

Raw materials and consumables

45,000

40,000

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

1,000

1,000

1,000

1,000