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Company No: 12280856 (England and Wales)

WAVENEY TREE SPECIALISTS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

WAVENEY TREE SPECIALISTS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

WAVENEY TREE SPECIALISTS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
WAVENEY TREE SPECIALISTS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Intangible assets 3 17,986 23,819
Tangible assets 4 96,585 128,983
114,571 152,802
Current assets
Stocks 12,220 10,620
Debtors 5 39,278 68,679
Cash at bank and in hand 5,497 18,967
56,995 98,266
Creditors: amounts falling due within one year 6 ( 243,534) ( 232,999)
Net current liabilities (186,539) (134,733)
Total assets less current liabilities (71,968) 18,069
Creditors: amounts falling due after more than one year 7 ( 13,227) ( 44,130)
Net liabilities ( 85,195) ( 26,061)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 85,295 ) ( 26,161 )
Total shareholders' deficit ( 85,195) ( 26,061)

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Waveney Tree Specialists Ltd (registered number: 12280856) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

P J Garnham
Director

27 May 2025

WAVENEY TREE SPECIALISTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
WAVENEY TREE SPECIALISTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Waveney Tree Specialists Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Aldersyde Cottage Low Street, Hoxne, Eye, IP21 5AS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 6 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 7

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2024 35,000 35,000
At 31 March 2025 35,000 35,000
Accumulated amortisation
At 01 April 2024 11,181 11,181
Charge for the financial year 5,833 5,833
At 31 March 2025 17,014 17,014
Net book value
At 31 March 2025 17,986 17,986
At 31 March 2024 23,819 23,819

4. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 April 2024 142,031 59,396 670 202,097
Additions 4,000 0 88 4,088
Disposals 0 ( 4,267) 0 ( 4,267)
At 31 March 2025 146,031 55,129 758 201,918
Accumulated depreciation
At 01 April 2024 50,072 22,788 254 73,114
Charge for the financial year 24,267 10,197 121 34,585
Disposals 0 ( 2,366) 0 ( 2,366)
At 31 March 2025 74,339 30,619 375 105,333
Net book value
At 31 March 2025 71,692 24,510 383 96,585
At 31 March 2024 91,959 36,608 416 128,983

5. Debtors

2025 2024
£ £
Trade debtors 28,112 32,997
Prepayments 1,896 0
Deferred tax asset 0 4,354
Corporation tax 0 3,356
Other debtors 9,270 27,972
39,278 68,679

6. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 24,813 25,743
Trade creditors 120 7,856
Amounts owed to directors 189,363 166,813
Accruals 2,785 2,625
Other taxation and social security 14,211 18,500
Obligations under finance leases and hire purchase contracts 12,007 11,105
Other creditors 235 357
243,534 232,999

7. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans 13,227 32,407
Obligations under finance leases and hire purchase contracts 0 11,723
13,227 44,130