Company Registration No. SC604953 (Scotland)
Black Isle Timber Harvesting Limited
Unaudited accounts
for the year ended 30 September 2024
Black Isle Timber Harvesting Limited
Unaudited accounts
Contents
Black Isle Timber Harvesting Limited
Company Information
for the year ended 30 September 2024
Company Number
SC604953 (Scotland)
Registered Office
Whinfield
24 Marine Terrace
Rosemarkie
Ross-shire
IV10 8UL
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Black Isle Timber Harvesting Limited
Statement of financial position
as at 30 September 2024
Tangible assets
1,345,071
1,339,155
Cash at bank and in hand
89,898
-
Creditors: amounts falling due within one year
(349,328)
(378,764)
Net current assets/(liabilities)
31,208
(204,388)
Total assets less current liabilities
1,376,279
1,134,767
Creditors: amounts falling due after more than one year
(825,398)
(872,623)
Provisions for liabilities
Deferred tax
(166,500)
(55,678)
Net assets
384,381
206,466
Called up share capital
100
100
Profit and loss account
384,281
206,366
Shareholders' funds
384,381
206,466
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 June 2025 and were signed on its behalf by
R Voics
Director
Company Registration No. SC604953
Black Isle Timber Harvesting Limited
Notes to the Accounts
for the year ended 30 September 2024
Black Isle Timber Harvesting Limited is a private company, limited by shares, registered in Scotland, registration number SC604953. The registered office is Whinfield, 24 Marine Terrace, Rosemarkie, Ross-shire, IV10 8UL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
20% reducing balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Black Isle Timber Harvesting Limited
Notes to the Accounts
for the year ended 30 September 2024
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 accounts. 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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2023
-
1,459,901
79,270
1,539,171
Additions
64,771
133,724
24,603
223,098
Disposals
-
(91,605)
(5,000)
(96,605)
At 30 September 2024
64,771
1,502,020
98,873
1,665,664
At 1 October 2023
-
179,363
20,653
200,016
Charge for the year
11,641
137,507
13,774
162,922
On disposals
-
(39,691)
(2,654)
(42,345)
At 30 September 2024
11,641
277,179
31,773
320,593
At 30 September 2024
53,130
1,224,841
67,100
1,345,071
At 30 September 2023
-
1,280,538
58,617
1,339,155
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
1,148,412
1,125,150
- Motor vehicles
65,123
54,455
Amounts falling due within one year
Trade debtors
211,270
174,276
Accrued income and prepayments
-
100
Black Isle Timber Harvesting Limited
Notes to the Accounts
for the year ended 30 September 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
12,294
Obligations under finance leases and hire purchase contracts
205,885
183,316
Trade creditors
56,112
70,981
Taxes and social security
41,534
41,681
Other creditors
43,658
59,220
Loans from directors
774
9,962
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
825,398
872,623
8
Average number of employees
During the year the average number of employees was 3 (2023: 6).