Company Registration No. SC512313 (Scotland)
RDS FORESTRY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
James Hair Group Limited
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
RDS FORESTRY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
247,162
158,615
Investment properties
4
99,440
99,440
Investments
5
70,350
70,350
416,952
328,405
Current assets
Stocks
276,237
264,705
Debtors
6
490,873
479,144
Cash at bank and in hand
1,486,434
1,279,713
2,253,544
2,023,562
Creditors: amounts falling due within one year
7
(675,862)
(565,188)
Net current assets
1,577,682
1,458,374
Total assets less current liabilities
1,994,634
1,786,779
Provisions for liabilities
8
(60,672)
(38,460)
Net assets
1,933,962
1,748,319
Capital and reserves
Called up share capital
9
10
10
Profit and loss reserves
1,933,952
1,748,309
Total equity
1,933,962
1,748,319
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 June 2025
Mr Andrew Dixon
Director
Company Registration No. SC512313
RDS FORESTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
RDS Forestry Limited is a private company limited by shares incorporated in Scotland. The registered office is 45 Enterprise House, Springkerse Business Park, STIRLING, FK7 7UF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover comprises the invoiced value of forestry and other rural land management services including hire of equipment and other forestry maintenance services supplied by the company, net of Value Added Tax and trade discounts.
Rental income and related costs are recorded in the period to which the income and cost relate.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% Straight Line
Motor vehicles
25% Reducing Balance
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.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.5
Stocks
Stocks and work in progress including short term contracts are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost comprises direct expenditure and an appropriate proportion of fixed and variable overheads.
RDS FORESTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.
1.7
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts paid by the company to the funds in respect of the year.
1.10
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
9
9
RDS FORESTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2023
483,513
41,811
525,324
Additions
192,278
192,278
Disposals
(78,126)
(78,126)
At 30 September 2024
597,665
41,811
639,476
Depreciation and impairment
At 1 October 2023
336,998
29,710
366,708
Depreciation charged in the year
85,924
3,025
88,949
Eliminated in respect of disposals
(63,343)
(63,343)
At 30 September 2024
359,579
32,735
392,314
Carrying amount
At 30 September 2024
238,086
9,076
247,162
At 30 September 2023
146,515
12,100
158,615
4
Investment property
2024
£
Fair value
At 1 October 2023 and 30 September 2024
99,440
The fair value of the investment property was confirmed to be correct at 30 September 2024 by A Dixon, director.
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
70,350
70,350
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 October 2023 & 30 September 2024
70,350
Carrying amount
At 30 September 2024
70,350
At 30 September 2023
70,350
RDS FORESTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
155,239
338,383
Other debtors
335,634
140,761
490,873
479,144
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
138,932
93,959
Amounts due to group undertakings
64,543
65,080
Corporation tax
54,112
61,952
Other taxation and social security
82,411
62,778
Directors current accounts
23,103
24,603
Accruals and deferred income
312,761
256,816
675,862
565,188
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
60,672
38,460
9
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
10 Ordinary Shares of £1 each
10
10