Caseware UK (AP4) 2018.0.111 2018.0.111 2018-03-312018-03-31No description of principal activityfalse2017-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue SC156188 2017-04-01 2018-03-31 SC156188 2016-04-01 2017-03-31 SC156188 2018-03-31 SC156188 2017-03-31 SC156188 c:CompanySecretary1 2017-04-01 2018-03-31 SC156188 c:Director1 2017-04-01 2018-03-31 SC156188 c:Director2 2017-04-01 2018-03-31 SC156188 c:RegisteredOffice 2017-04-01 2018-03-31 SC156188 d:CurrentFinancialInstruments 2018-03-31 SC156188 d:CurrentFinancialInstruments 2017-03-31 SC156188 d:Non-currentFinancialInstruments 2018-03-31 SC156188 d:Non-currentFinancialInstruments 2017-03-31 SC156188 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 SC156188 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 SC156188 d:ShareCapital 2018-03-31 SC156188 d:ShareCapital 2017-03-31 SC156188 d:RetainedEarningsAccumulatedLosses 2018-03-31 SC156188 d:RetainedEarningsAccumulatedLosses 2017-03-31 SC156188 c:OrdinaryShareClass1 2017-04-01 2018-03-31 SC156188 c:OrdinaryShareClass1 2018-03-31 SC156188 c:FRS102 2017-04-01 2018-03-31 SC156188 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 SC156188 c:FullAccounts 2017-04-01 2018-03-31 SC156188 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC156188










BANKHEAD FARMS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

 
BANKHEAD FARMS LIMITED
 

COMPANY INFORMATION


Directors
Mr G F McLaren 
Mr D McLaren 




Company secretary
Mr G F McLaren



Registered number
SC156188



Registered office
14 City Quay

Dundee

DD1 3JA




Accountants
EQ Accountants LLP

Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
BANKHEAD FARMS LIMITED
REGISTERED NUMBER: SC156188

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2018

2018
2017
£
£

  

Current assets
  

Stocks
  
66,317
37,333

Debtors
 4 
2,559,283
2,441,461

Cash at bank and in hand
  
36,543
12,098

  
2,662,143
2,490,892

Creditors: amounts falling due within one year
 5 
(58,710)
(60,265)

Net current assets
  
 
 
2,603,433
 
 
2,430,627

Total assets less current liabilities
  
2,603,433
2,430,627

  

Net assets
  
2,603,433
2,430,627


Capital and reserves
  

Called up share capital 
 6 
3
3

Profit and loss account
  
2,603,430
2,430,624

  
2,603,433
2,430,627


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 November 2018.




Mr G F McLaren
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
BANKHEAD FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


General information

Bankhead Farms Limited is a private company, limited by shares, domiciled in Scotland with registration number SC156188.  The registered office is 14 City Quay Dundee, DD1 3JA.  The trading address is Bankhead of Kinloch, Meigle, Perthshire PH12 8QY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 2

 
BANKHEAD FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2017 - 2).


4.


Debtors

2018
2017
£
£

Due after more than one year

Amounts owed by participating interests
2,400,000
2,250,000

2,400,000
2,250,000

Due within one year

Trade debtors
29,172
-

Amounts owed by participating interests
130,110
191,460

Other debtors
1
1

2,559,283
2,441,461




5.


Creditors: Amounts falling due within one year

2018
2017
£
£

Trade creditors
8,904
18,663

Other taxation and social security
48,255
40,050

Accruals and deferred income
1,551
1,552

58,710
60,265


Page 3

 
BANKHEAD FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

6.


Share capital

2018
2017
£
£
Allotted, called up and fully paid



3 Ordinary shares of £1 each
3
3


Page 4