Craig Nicoll Timber Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC309466

Craig Nicoll Timber Limited

Filleted Unaudited Financial Statements

31 October 2025

Craig Nicoll Timber Limited

Financial Statements

Year ended 31 October 2025

Contents	Page

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Craig Nicoll Timber Limited

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Craig Nicoll Timber Limited

Year ended 31 October 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Craig Nicoll Timber Limited for the year ended 31 October 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Craig Nicoll Timber Limited, as a body, in accordance with the terms of our engagement letter dated 14 October 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Craig Nicoll Timber Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Craig Nicoll Timber Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Craig Nicoll Timber Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Craig Nicoll Timber Limited. You consider that Craig Nicoll Timber Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Craig Nicoll Timber Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GARDNER & PARTNERS LTD Chartered Certified Accountants

19 Commerce Street Insch Aberdeenshire AB52 6HX

7 July 2026

Craig Nicoll Timber Limited

Statement of Financial Position

31 October 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		2,091,433	2,046,793

Current assets

Debtors	6	85,568	113,853
Cash at bank and in hand		840,286	825,677
		---------	---------
		925,854	939,530

Creditors: amounts falling due within one year	7	445,078		518,305
		---------		---------
Net current assets			480,776	421,225
			------------	------------
Total assets less current liabilities			2,572,209	2,468,018

Creditors: amounts falling due after more than one year	8	684,856	536,749
		------------	------------
Net assets		1,887,353	1,931,269
		------------	------------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	1,886,353	1,930,269
	------------	------------
Shareholders funds	1,887,353	1,931,269
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Craig Nicoll Timber Limited

Statement of Financial Position (continued)

31 October 2025

These financial statements were approved by the board of directors and authorised for issue on 7 July 2026 , and are signed on behalf of the board by:

Mr C Nicoll
Director

Company registration number: SC309466

Craig Nicoll Timber Limited

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Kildonan, Golf Road, Aboyne, AB34 5HP.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover shown in the profit and loss account represents the value of goods and services supplied during the year exclusive of value added tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Office Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 8 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 November 2024	66,982	2,690,411	172,264	6,549	2,936,206
Additions	4,706	859,917	14,583	–	879,206
Disposals	–	( 759,710)	–	–	( 759,710)
	--------	------------	---------	-------	------------
At 31 October 2025	71,688	2,790,618	186,847	6,549	3,055,702
	--------	------------	---------	-------	------------
Depreciation
At 1 November 2024	–	794,454	89,707	5,252	889,413
Charge for the year	–	343,398	24,287	324	368,009
Disposals	–	( 293,153)	–	–	( 293,153)
	--------	------------	---------	-------	------------
At 31 October 2025	–	844,699	113,994	5,576	964,269
	--------	------------	---------	-------	------------
Carrying amount
At 31 October 2025	71,688	1,945,919	72,853	973	2,091,433
	--------	------------	---------	-------	------------
At 31 October 2024	66,982	1,895,957	82,557	1,297	2,046,793
	--------	------------	---------	-------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	85,568	113,853
	--------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	57,529	48,340
Social security and other taxes	23,863	52,797
Other creditors	363,686	417,168
	---------	---------
	445,078	518,305
	---------	---------

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

	2025	2024
	£	£
Other creditors	684,856	536,749
	---------	---------

9. Related party transactions

The company was under the control of Mr and Mrs Nicoll throughout the current and previous year. Mr and Mrs Nicoll are both directors and equal shareholders. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for smaller entities.