Tree Tops Forestry Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09424786 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2018

for

Tree Tops Forestry Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J Strange

REGISTERED OFFICE:

Miller Cottage

Scalegill

Kirkby Malham

Skipton

North Yorkshire

BD23 4BN

REGISTERED NUMBER:

09424786 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

1 Billing Road

Northampton

Northamptonshire

NN1 5AL

FIXED ASSETS

Intangible assets

3

17,595

20,109

Tangible assets

4

25,382

24,088

42,977

44,197

CURRENT ASSETS

Debtors

5

852

-

Cash at bank

12,971

21,497

13,823

21,497

CREDITORS

Amounts falling due within one year

6

40,563

47,145

NET CURRENT LIABILITIES

(26,740

)

(25,648

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,237

18,549

CREDITORS

Amounts falling due after more than one year

7

(2,128

)

(6,136

)

PROVISIONS FOR LIABILITIES

(4,782

)

(4,328

)

NET ASSETS

9,327

8,085

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9,227

7,985

SHAREHOLDERS' FUNDS

9,327

8,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 2 July 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2017

and 28 February 2018

25,136

AMORTISATION

At 1 March 2017

5,027

Amortisation for year

2,514

At 28 February 2018

7,541

NET BOOK VALUE

At 28 February 2018

17,595

At 28 February 2017

20,109

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 March 2017

5,661

16,631

19,967

264

42,523

Additions

320

15,445

-

799

16,564

At 28 February 2018

5,981

32,076

19,967

1,063

59,087

DEPRECIATION

At 1 March 2017

3,774

4,545

9,984

132

18,435

Charge for year

1,994

8,019

4,991

266

15,270

At 28 February 2018

5,768

12,564

14,975

398

33,705

NET BOOK VALUE

At 28 February 2018

213

19,512

4,992

665

25,382

At 28 February 2017

1,887

12,086

9,983

132

24,088

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

Motor

vehicles

£

COST

At 1 March 2017

and 28 February 2018

16,100

DEPRECIATION

At 1 March 2017

8,050

Charge for year

4,025

At 28 February 2018

12,075

NET BOOK VALUE

At 28 February 2018

4,025

At 28 February 2017

8,050

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

852

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

4,009

3,678

Trade creditors

725

1,031

Tax

1,133

168

Social security and other taxes

510

386

VAT

1,229

2,648

Other creditors

19

884

Directors' current accounts

31,738

37,150

Accrued expenses

1,200

1,200

40,563

47,145

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

2,128

6,136

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1,000

Ordinary

10p

100

100