IRIS Accounts Production v23.3.0.418 SC210113 Board of Directors Board of Directors 6.4.22 5.4.23 5.4.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2101132022-04-05SC2101132023-04-05SC2101132022-04-062023-04-05SC2101132021-04-05SC2101132021-04-062022-04-05SC2101132022-04-05SC210113ns10:Originalns15:Scotland2022-04-062023-04-05SC210113ns14:PoundSterlingns10:Original2022-04-062023-04-05SC210113ns10:Originalns10:Director12022-04-062023-04-05SC210113ns10:Original2022-04-062023-04-05SC210113ns10:Originalns10:Director22022-04-062023-04-05SC210113ns10:Original2023-04-05SC210113ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-062023-04-05SC210113ns10:Originalns10:SmallEntities2022-04-062023-04-05SC210113ns10:Originalns10:AuditExemptWithAccountantsReport2022-04-062023-04-05SC210113ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-062023-04-05SC210113ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-062023-04-05SC210113ns10:Originalns10:AbridgedAccounts2022-04-062023-04-05SC210113ns10:CompanySecretary1ns10:Original2022-04-062023-04-05SC210113ns10:Originalns10:RegisteredOffice2022-04-062023-04-05SC210113ns10:Original2022-04-05SC210113ns10:Originalns5:CurrentFinancialInstruments2023-04-05SC210113ns10:Originalns5:CurrentFinancialInstruments2022-04-05SC210113ns10:Originalns5:Non-currentFinancialInstruments2023-04-05SC210113ns10:Originalns5:Non-currentFinancialInstruments2022-04-05SC210113ns5:ShareCapitalns10:Original2023-04-05SC210113ns5:ShareCapitalns10:Original2022-04-05SC210113ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-04-05SC210113ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-05SC210113ns10:Originalns5:PlantMachinery2022-04-062023-04-05SC210113ns10:Originalns5:MotorVehicles2022-04-062023-04-05SC210113ns10:Originalns5:ComputerEquipment2022-04-062023-04-05SC210113ns10:Original2021-04-062022-04-05SC210113ns10:Original2022-04-05
REGISTERED NUMBER: SC210113 (Scotland)















Unaudited Financial Statements for the Year Ended 5 April 2023

for

Balliefurth Limited

Balliefurth Limited (Registered number: SC210113)






Contents of the Financial Statements
for the Year Ended 5 April 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Balliefurth Limited

Company Information
for the Year Ended 5 April 2023







DIRECTORS: P C L Harrison
Mrs A C Harrison





SECRETARY: P C L Harrison





REGISTERED OFFICE: Balliefurth Farm
Grantown-on-Spey
Morayshire
PH26 3NH





REGISTERED NUMBER: SC210113 (Scotland)





ACCOUNTANTS: Stewart & Stewart Ltd
Chartered Accountants
Achorn House
34 Millbank Road
Munlochy
Ross-Shire
IV8 8ND

Balliefurth Limited (Registered number: SC210113)

Abridged Balance Sheet
5 April 2023

5.4.23 5.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 407,530 417,500

CURRENT ASSETS
Stocks 17,954 23,450
Debtors 16,216 17,380
Cash at bank and in hand 23,552 26,219
57,722 67,049
CREDITORS
Amounts falling due within one year 260,142 276,611
NET CURRENT LIABILITIES (202,420 ) (209,562 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,110

207,938

CREDITORS
Amounts falling due after more than one year 26,442 36,047
NET ASSETS 178,668 171,891

CAPITAL AND RESERVES
Called up share capital 47,218 47,218
Retained earnings 131,450 124,673
SHAREHOLDERS' FUNDS 178,668 171,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Balliefurth Limited (Registered number: SC210113)

Abridged Balance Sheet - continued
5 April 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 5 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:




P C L Harrison - Director



Mrs A C Harrison - Director


Balliefurth Limited (Registered number: SC210113)

Notes to the Financial Statements
for the Year Ended 5 April 2023

1. STATUTORY INFORMATION

Balliefurth Limited is a private company, limited by shares , registered in Scotland. 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.

Going concern

At 5 April 2023 the company had net current liabilities of £202,420 (2022 - £209,592). Included in creditors are amounts totalling £221,592 (2022 - £217,174) due to the directors. The directors have indicated that they will not seek repayment of these amounts to the detriment of third parties and that they will continue to provide sufficient funding so as to ensure that the company is able to meet its financial obligations as they fall due. Accordingly, the directors consider it appropriate to adopt the going concern basis in preparing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

No depreciation has been provided for in respect of the company's freehold land and buildings. This is a departure from the Companies Act 2006 which requires all properties to be depreciated. The directors are of the opinion that any element of depreciation would be immaterial on the basis that the residual value of the property after taking account of its useful economic life, is likely to be higher than its original cost. They consider that to depreciate them would not enable the financial statements to give a true and fair view.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition

Balliefurth Limited (Registered number: SC210113)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non convertible preference shares and non puttable ordinary or preference shares are publicly traded or their fair value can otherwise be measured reliably , the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately.

All equity investments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

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.

Balliefurth Limited (Registered number: SC210113)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 6 April 2022 509,738
Additions 1,582
At 5 April 2023 511,320
DEPRECIATION
At 6 April 2022 92,238
Charge for year 11,552
At 5 April 2023 103,790
NET BOOK VALUE
At 5 April 2023 407,530
At 5 April 2022 417,500

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Balliefurth Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Balliefurth Limited for the year ended 5 April 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Balliefurth Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Balliefurth Limited and state those matters that we have agreed to state to the Board of Directors of Balliefurth Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Balliefurth 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 Balliefurth Limited. You consider that Balliefurth 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 Balliefurth 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.






Stewart & Stewart Ltd
Chartered Accountants
Achorn House
34 Millbank Road
Munlochy
Ross-Shire
IV8 8ND


25 October 2023