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Registered number: 12804434
Cornish Forestry Products Limited
Unaudited Financial Statements
For The Year Ended 31 August 2025
TaxAssist Accountants
Chartered Accountants
714 London Road
Larkfield
KENT
ME20 6BL
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 12804434
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,400 4,800
Tangible Assets 5 201,234 86,450
203,634 91,250
CURRENT ASSETS
Debtors 6 75,050 54,745
Cash at bank and in hand 22,523 58,772
97,573 113,517
Creditors: Amounts Falling Due Within One Year 7 (164,508 ) (94,082 )
NET CURRENT ASSETS (LIABILITIES) (66,935 ) 19,435
TOTAL ASSETS LESS CURRENT LIABILITIES 136,699 110,685
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,324 ) (11,905 )
NET ASSETS 132,375 98,780
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 132,275 98,680
SHAREHOLDERS' FUNDS 132,375 98,780
Page 1
Page 2
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Aaron Cornish
Director
30th January 2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cornish Forestry Products Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12804434 . The registered office is 36 Commercial Road, Paddock Wood, KENT, TN12 6EL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold NIL
Plant & Machinery 25% straight line
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2024 12,000
As at 31 August 2025 12,000
Amortisation
As at 1 September 2024 7,200
Provided during the period 2,400
As at 31 August 2025 9,600
Net Book Value
As at 31 August 2025 2,400
As at 1 September 2024 4,800
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Goodwill was acquired on the purchase of the sole trade business by the Company. Goodwill is to be amortised over a period of five years.
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 September 2024 - 202,478 202,478
Additions 151,822 18,109 169,931
As at 31 August 2025 151,822 220,587 372,409
Depreciation
As at 1 September 2024 - 116,028 116,028
Provided during the period - 55,147 55,147
As at 31 August 2025 - 171,175 171,175
Net Book Value
As at 31 August 2025 151,822 49,412 201,234
As at 1 September 2024 - 86,450 86,450
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 72,050 50,245
Other debtors 3,000 4,500
75,050 54,745
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 2,350 640
Other loans 60,000 -
Corporation tax 25,707 18,267
Other taxes and social security 6,200 -
...CONTINUED
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Page 6
VAT 37,422 31,484
Accruals and deferred income 1,892 1,612
Director's loan account 30,937 42,079
164,508 94,082
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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