Company No: SC603696 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	23,381		20,568
		23,381		20,568
Current assets
Stocks		59,905		33,540
Debtors	4	523,497		281,921
Cash at bank and in hand		23,796		3,406
		607,198		318,867
Creditors: amounts falling due within one year	5	( 538,317)		( 310,532)
Net current assets		68,881		8,335
Total assets less current liabilities		92,262		28,903
Creditors: amounts falling due after more than one year	6	0		( 6,404)
Provision for liabilities	7	( 5,249)		( 4,549)
Net assets		87,013		17,950
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		86,913		17,850
Total shareholders' funds		87,013		17,950

For the financial year ending 30 November 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 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 TreeStory Limited (registered number: SC603696) were approved and authorised for issue by the Board of Directors on 20 August 2026. They were signed on its behalf by:

G Brown 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 year, unless otherwise stated.

General information and basis of accounting

TreeStory Limited (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 38 Dean Park Mews, Edinburgh, EH4 1ED, Scotland, United Kingdom.

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 undertaken an assessment of the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.

In carrying out this assessment, the directors have considered the company's historic and current trading performance, forecast profitability, working capital requirements, existing financing arrangements and funding facilities.

The company continues to trade profitably and, subsequent to the year end, refinanced existing borrowing through a new term loan facility with HSBC. The directors have also considered the company's current liabilities, working capital position and ongoing cashflow requirements.

Whilst the directors recognise that the company remains subject to liquidity pressures arising from its working capital position, directors' loan account balances and external borrowing commitments, they expect the business to continue generating profitable trading results and sufficient cash resources to enable liabilities to be met as they fall due.

Having considered the matters noted above, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Revenue from contracts for the provision of silviculture and forestry services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that is probable will be recovered.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings	3 years straight line
Office equipment	3 - 5 years straight line

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Work in progress represents the costs associated with services delivered to customers still ongoing at the year-end. Cost comprises direct materials, and, where applicable, direct labour costs and those overheads that have been incurred in completing the services.

Stocks of books comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to its current location.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

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

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	19		19

3. Tangible assets

	Fixtures and fittings		Office equipment		Total
	£		£		£
Cost
At 01 December 2024	3,162		68,576		71,738
Additions	837		14,998		15,835
At 30 November 2025	3,999		83,574		87,573
Accumulated depreciation
At 01 December 2024	1,879		49,291		51,170
Charge for the financial year	857		12,165		13,022
At 30 November 2025	2,736		61,456		64,192
Net book value
At 30 November 2025	1,263		22,118		23,381
At 30 November 2024	1,283		19,285		20,568

4. Debtors

	2025		2024
	£		£
Trade debtors	171,084		158,975
Corporation tax	84,079		26,541
Other debtors	268,334		96,405
	523,497		281,921

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	184,090		7,550
Trade creditors	73,115		100,544
Taxation and social security	213,428		139,735
Obligations under finance leases and hire purchase contracts	14,073		7,114
Other creditors	53,611		55,589
	538,317		310,532

There are no amounts included above in respect of which any security has been given by the small entity.

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

	2025		2024
	£		£
Bank loans	0		6,404

There are no amounts included above in respect of which any security has been given by the small entity.

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	5,249		4,549

	Deferred taxation		Total
	£		£
At 01 December 2024	4,549		4,549
Charged to the Profit and Loss Account	700		700
At 30 November 2025	5,249		5,249

Deferred tax

	2025		2024
	£		£
Accelerated capital allowances	5,845		5,142
Other timing differences	( 596)		( 593)
Provision for deferred tax	5,249		4,549

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each	50		50
50 B ordinary shares of £ 1.00 each	50		50
	100		100

9. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	0		6,807

10. Related party transactions

Other related party transactions

	2025		2024
	£		£
Directors Loan Account	250,577		80,094

The balance due from the directors of £250,577 (2024: £80,094) is included within other debtors in note 4.

Advances have been granted by the company to the directors as follows: Opening balance of £80,094, with total advances of £232,208, interest charged at a rate of 2.25% to 5 April 2025 and then 3.75% from 6 April 2025 totalling £5,469 and repayments of £67,194, resulting in a closing balance of £250,796 at 30 November 2025. The balance is repayable on demand by the company.

11. Events after the Balance Sheet date

During May 2026, the company entered into a two-year term loan facility with HSBC UK Bank plc. The facility was obtained to refinance existing loan borrowings and is secured by a floating charge over the assets of the company.