Company No: SC741982 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.08.2024		31.08.2023
		£		£
Fixed assets
Tangible assets	3	176,778		202,450
		176,778		202,450
Current assets
Debtors	4	58,348		19,565
Cash at bank and in hand		23,720		46,122
		82,068		65,687
Creditors: amounts falling due within one year	5	( 149,665)		( 133,022)
Net current liabilities		(67,597)		(67,335)
Total assets less current liabilities		109,181		135,115
Creditors: amounts falling due after more than one year	6	( 30,703)		( 64,794)
Provision for liabilities	7	( 19,684)		( 17,645)
Net assets		58,794		52,676
Capital and reserves
Called-up share capital	8	2		2
Profit and loss account		58,792		52,674
Total shareholder's funds		58,794		52,676

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of SR Morrison Ltd (registered number: SC741982) were approved and authorised for issue by the Board of Directors on 03 November 2025. They were signed on its behalf by:

Robert Morrison Director

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 period, unless otherwise stated.

General information and basis of accounting

SR Morrison Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is c/o Johnston Carmichael Bishop's court, 29 Albyn Place, Aberdeen, AB10 1YL. The principal place of business is Mosacre, Boharm, Craigellachie, Aberlour, AB38 9RL.

The financial statements have been prepared under the historical cost convention 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 Balance Sheet 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.

Reporting period length

The company was incorporated on 22 August 2022, therefore the prior period was a longer period of account.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services from forestry harvesting and extraction services net of VAT.

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

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 Balance Sheet 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.

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

20 % 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	Year ended 31.08.2024		Period from 22.08.2022 to 31.08.2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		1

3. Tangible assets

	Plant and machinery		Total
	£		£
Cost
At 01 September 2023	222,200		222,200
Additions	16,142		16,142
At 31 August 2024	238,342		238,342
Accumulated depreciation
At 01 September 2023	19,750		19,750
Charge for the financial year	41,814		41,814
At 31 August 2024	61,564		61,564
Net book value
At 31 August 2024	176,778		176,778
At 31 August 2023	202,450		202,450

4. Debtors

	31.08.2024		31.08.2023
	£		£
Trade debtors	9,000		0
Other debtors	49,348		19,565
	58,348		19,565

5. Creditors: amounts falling due within one year

	31.08.2024		31.08.2023
	£		£
Trade creditors	5,944		1,882
Other taxation and social security	545		1,906
Obligations under finance leases and hire purchase contracts	34,091		31,088
Other creditors	109,085		98,146
	149,665		133,022

Hire purchase obligations are secured by fixed charges over the assets to which they relate to.

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

	31.08.2024		31.08.2023
	£		£
Obligations under finance leases and hire purchase contracts	30,703		64,794

Hire purchase obligations are secured by fixed charges over the assets to which they relate to.

7. Provision for liabilities

	31.08.2024		31.08.2023
	£		£
Deferred tax	19,684		17,645

8. Called-up share capital

	31.08.2024		31.08.2023
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

9. Related party transactions

Transactions with the entity's directors

	31.08.2024		31.08.2023
	£		£
Directors Loan Account	105,385		95,347

These loans are interest free and repayable on demand