Tree Tops Forestry Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09424786 (England and Wales)

Unaudited Financial Statements

For The Year Ended 29 February 2020

for

Tree Tops Forestry Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J Strange

REGISTERED OFFICE:

Chapel House

West Torrington

Market Rasen

Lincolnshire

LN8 5SQ

REGISTERED NUMBER:

09424786 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

1 Billing Road

Northampton

Northamptonshire

NN1 5AL

FIXED ASSETS

Intangible assets

4

12,568

15,082

Tangible assets

5

21,491

29,786

34,059

44,868

CURRENT ASSETS

Debtors

6

1,133

2,398

Cash at bank

10,580

13,070

11,713

15,468

CREDITORS

Amounts falling due within one year

7

50,187

41,069

NET CURRENT LIABILITIES

(38,474

)

(25,601

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,415

)

19,267

CREDITORS

Amounts falling due after more than one year

8

(9,785

)

(14,090

)

PROVISIONS FOR LIABILITIES

(3,057

)

(5,639

)

NET LIABILITIES

(17,257

)

(462

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(17,357

)

(562

)

SHAREHOLDERS' FUNDS

(17,257

)

(462

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2020 and were signed by:

Mr J Strange - Director

1.	STATUTORY INFORMATION

Tree Tops Forestry Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Although the company was insolvent at the Balance Sheet date, it has the continued support of the director,

and the accounts have therefore been drawn up on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to leasehold

-

33% on cost

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2019

and 29 February 2020

25,136

AMORTISATION

At 1 March 2019

10,054

Amortisation for year

2,514

At 29 February 2020

12,568

NET BOOK VALUE

At 29 February 2020

12,568

At 28 February 2019

15,082

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 March 2019

5,981

35,465

40,295

1,063

82,804

Additions

8,100

318

-

-

8,418

At 29 February 2020

14,081

35,783

40,295

1,063

91,222

DEPRECIATION

At 1 March 2019

5,875

21,430

25,049

664

53,018

Charge for year

2,806

8,559

5,082

266

16,713

At 29 February 2020

8,681

29,989

30,131

930

69,731

NET BOOK VALUE

At 29 February 2020

5,400

5,794

10,164

133

21,491

At 28 February 2019

106

14,035

15,246

399

29,786

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 March 2019

36,095

Transfer to ownership

(16,100

)

At 29 February 2020

19,995

DEPRECIATION

At 1 March 2019

21,099

Charge for year

4,032

Transfer to ownership

(16,100

)

At 29 February 2020

9,031

NET BOOK VALUE

At 29 February 2020

10,964

At 28 February 2019

14,996

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29/2/20

28/2/19

£

£

Tax

1,133

1,133

VAT

-

1,265

1,133

2,398

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29/2/20

28/2/19

£

£

Hire purchase contracts

4,306

6,042

Social security and other taxes

968

1,321

VAT

1,088

-

Other creditors

514

120

Directors' current accounts

41,953

28,386

Accrued expenses

1,358

5,200

50,187

41,069

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29/2/20

28/2/19

£

£

Hire purchase contracts

9,785

14,090

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29/2/20

28/2/19

value:

£

£

1,000

Ordinary

10p

100

100