Silverfin false 31/03/2023 01/04/2022 31/03/2023 Alasdair Mcarthur 22/01/1960 Claire Mcarthur 17/12/2017 Judith Mcarthur 22/01/1960 Karen Peasnall 17/12/2017 14 November 2023 The principal activity of the Company during the financial year continued to be that of farming. SC034795 2023-03-31 SC034795 bus:Director1 2023-03-31 SC034795 bus:Director2 2023-03-31 SC034795 bus:Director3 2023-03-31 SC034795 bus:Director4 2023-03-31 SC034795 2022-03-31 SC034795 core:CurrentFinancialInstruments 2023-03-31 SC034795 core:CurrentFinancialInstruments 2022-03-31 SC034795 core:ShareCapital 2023-03-31 SC034795 core:ShareCapital 2022-03-31 SC034795 core:CapitalRedemptionReserve 2023-03-31 SC034795 core:CapitalRedemptionReserve 2022-03-31 SC034795 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC034795 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC034795 core:LandBuildings 2022-03-31 SC034795 core:LeaseholdImprovements 2022-03-31 SC034795 core:PlantMachinery 2022-03-31 SC034795 core:Vehicles 2022-03-31 SC034795 core:LandBuildings 2023-03-31 SC034795 core:LeaseholdImprovements 2023-03-31 SC034795 core:PlantMachinery 2023-03-31 SC034795 core:Vehicles 2023-03-31 SC034795 core:ConsumableBiologicalAssetClass1 2022-03-31 SC034795 core:ConsumableBiologicalAssetClass2 2022-03-31 SC034795 core:ConsumableBiologicalAssetClass1 2023-03-31 SC034795 core:ConsumableBiologicalAssetClass2 2023-03-31 SC034795 core:CostValuation 2022-03-31 SC034795 core:CostValuation 2023-03-31 SC034795 core:ProvisionsForImpairmentInvestments 2022-03-31 SC034795 core:ProvisionsForImpairmentInvestments 2023-03-31 SC034795 2021-03-31 SC034795 bus:OrdinaryShareClass1 2023-03-31 SC034795 2022-04-01 2023-03-31 SC034795 bus:FullAccounts 2022-04-01 2023-03-31 SC034795 bus:SmallEntities 2022-04-01 2023-03-31 SC034795 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC034795 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC034795 bus:Director1 2022-04-01 2023-03-31 SC034795 bus:Director2 2022-04-01 2023-03-31 SC034795 bus:Director3 2022-04-01 2023-03-31 SC034795 bus:Director4 2022-04-01 2023-03-31 SC034795 core:LandBuildings core:BottomRangeValue 2022-04-01 2023-03-31 SC034795 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 SC034795 core:LeaseholdImprovements core:TopRangeValue 2022-04-01 2023-03-31 SC034795 core:PlantMachinery 2022-04-01 2023-03-31 SC034795 core:PlantMachinery core:TopRangeValue 2022-04-01 2023-03-31 SC034795 core:Vehicles 2022-04-01 2023-03-31 SC034795 2021-04-01 2022-03-31 SC034795 core:LandBuildings 2022-04-01 2023-03-31 SC034795 core:LeaseholdImprovements 2022-04-01 2023-03-31 SC034795 core:ConsumableBiologicalAssetClass1 2022-04-01 2023-03-31 SC034795 core:ConsumableBiologicalAssetClass2 2022-04-01 2023-03-31 SC034795 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC034795 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC034795 (Scotland)

ALLAN MOORE (DRUMMOND) LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

ALLAN MOORE (DRUMMOND) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

ALLAN MOORE (DRUMMOND) LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
ALLAN MOORE (DRUMMOND) LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 376,706 428,455
Biological assets 4 60,328 147,927
Investments 5 8,594 8,594
445,628 584,976
Current assets
Stocks 193,782 41,365
Debtors 6 41,306 67,832
Cash at bank and in hand 305,920 276,301
541,008 385,498
Creditors: amounts falling due within one year 7 ( 105,812) ( 120,118)
Net current assets 435,196 265,380
Total assets less current liabilities 880,824 850,356
Provision for liabilities 8 ( 57,282) ( 68,923)
Net assets 823,542 781,433
Capital and reserves
Called-up share capital 9 20,501 20,501
Capital redemption reserve 4,499 4,499
Profit and loss account 798,542 756,433
Total shareholders' funds 823,542 781,433

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Allan Moore (Drummond) Limited (registered number: SC034795) were approved and authorised for issue by the Director on 14 November 2023. They were signed on its behalf by:

Alasdair Mcarthur
Director
ALLAN MOORE (DRUMMOND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
ALLAN MOORE (DRUMMOND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
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

Allan Moore (Drummond) 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 Drummond, Evanton, Dingwall, IV16 9UU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account.

Turnover

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 - 25 years straight line
not depreciated
Leasehold improvements 10 years straight line
Plant and machinery 10 % reducing balance
3 years straight line
Vehicles 22.5 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Biological assets

The company breeds cattle and sheep and grows cereal crops to sell the agricultural produce harvested from such animals and plants. In accordance with FRS102, such breeding animals and cereal crops are defined as biological assets. The company measures all biological assets at cost less accumulated depreciation and accumulated impairment losses with the breeding animals included within fixed assets and the remainder of livestock and cereal crops included within stock.

In respect of agricultural produce harvested from a biological asset, this is measured at the point of harvest at the lower of cost and estimated selling price less costs to complete and sell. All such items are included within stock.

Depreciation is recognised so as to write off the cost or valuation of breeding animals less their residual values over their useful lives on the following bases:

Sheep - 0% straight line

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Fixed asset investments

Fixed asset investments are stated at cost less provision for diminution in value.

Stocks

Stock and biological assets are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 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

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Total
£ £ £ £ £
Cost
At 01 April 2022 241,402 351,814 379,802 216,899 1,189,917
Additions 0 0 4,209 0 4,209
At 31 March 2023 241,402 351,814 384,011 216,899 1,194,126
Accumulated depreciation
At 01 April 2022 125,771 300,705 232,079 102,907 761,462
Charge for the financial year 7,146 6,126 17,038 25,648 55,958
At 31 March 2023 132,917 306,831 249,117 128,555 817,420
Net book value
At 31 March 2023 108,485 44,983 134,894 88,344 376,706
At 31 March 2022 115,631 51,109 147,723 113,992 428,455

4. Biological assets

2023
Non-current Current Total
£ £ £
Biological assets at cost 0 60,328 60,328

Assets held at cost:

Beef Forage Total
£ £ £
Cost
At 01 April 2022 71,050 76,877 147,927
Decrease attributable to sales ( 33,711) ( 53,888) ( 87,599)
At 31 March 2023 37,339 22,989 60,328
Net book value
At 31 March 2023 37,339 22,989 60,328
At 31 March 2022 71,050 76,877 147,927

5. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 April 2022 8,594 8,594
At 31 March 2023 8,594 8,594
Provisions for impairment
At 01 April 2022 0 0
At 31 March 2023 0 0
Carrying value at 31 March 2023 8,594 8,594
Carrying value at 31 March 2022 8,594 8,594

6. Debtors

2023 2022
£ £
Prepayments 368 361
VAT recoverable 3,762 6,090
Other debtors 37,176 61,381
41,306 67,832

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,542 9,676
Taxation and social security 18,614 11,956
Obligations under finance leases and hire purchase contracts 0 14,198
Other creditors 84,656 84,288
105,812 120,118

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 68,923) ( 42,873)
Credited/(charged) to the Profit and Loss Account 11,641 ( 26,050)
At the end of financial year ( 57,282) ( 68,923)

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
20,501 Ordinary shares of £ 1.00 each 20,501 20,501