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REGISTERED NUMBER: SC545942 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ARDGARRY FARM LTD

ARDGARRY FARM LTD (REGISTERED NUMBER: SC545942)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARDGARRY FARM LTD

COMPANY INFORMATION
For The Year Ended 28 February 2023







DIRECTORS: Kevin Gallagher
Angela Joyce Mungall





SECRETARY: Angela Joyce Mungall





REGISTERED OFFICE: Ardgarry Farm
Faichem
INVERGARRY
Inverness-shire
PH35 4HG





REGISTERED NUMBER: SC545942 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

ARDGARRY FARM LTD (REGISTERED NUMBER: SC545942)

BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,574 56,710

CURRENT ASSETS
Stocks 1,000 1,000
Cash at bank 2,830 18,730
3,830 19,730
CREDITORS
Amounts falling due within one year 5 28,470 26,447
NET CURRENT LIABILITIES (24,640 ) (6,717 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,934

49,993

CREDITORS
Amounts falling due after more than one
year

6

39,710

48,570
NET (LIABILITIES)/ASSETS (10,776 ) 1,423

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (10,876 ) 1,323
SHAREHOLDERS' FUNDS (10,776 ) 1,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

ARDGARRY FARM LTD (REGISTERED NUMBER: SC545942)

BALANCE SHEET - continued
28 February 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:




Kevin Gallagher - Director



Angela Joyce Mungall - Director


ARDGARRY FARM LTD (REGISTERED NUMBER: SC545942)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 28 February 2023

1. STATUTORY INFORMATION

Ardgarry Farm Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

ARDGARRY FARM LTD (REGISTERED NUMBER: SC545942)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2022 25,381 50,842 32,965 109,188
Additions 8,500 - - 8,500
At 28 February 2023 33,881 50,842 32,965 117,688
DEPRECIATION
At 1 March 2022 12,082 25,974 14,422 52,478
Charge for year 3,270 3,730 4,636 11,636
At 28 February 2023 15,352 29,704 19,058 64,114
NET BOOK VALUE
At 28 February 2023 18,529 21,138 13,907 53,574
At 28 February 2022 13,299 24,868 18,543 56,710

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022
and 28 February 2023 32,965
DEPRECIATION
At 1 March 2022 14,422
Charge for year 4,636
At 28 February 2023 19,058
NET BOOK VALUE
At 28 February 2023 13,907
At 28 February 2022 18,543

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,739 5,739
Taxation and social security 1,044 1,831
Other creditors 21,687 18,877
28,470 26,447

ARDGARRY FARM LTD (REGISTERED NUMBER: SC545942)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 February 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 18,830 24,570
Other creditors 20,880 24,000
39,710 48,570