Maulscastle Farm Limited
Statement of financial position
as at 28 February 2023
Tangible assets
17,659
20,996
Inventories
131,700
135,600
Cash at bank and in hand
149,184
153,442
Creditors: amounts falling due within one year
(184,233)
(205,402)
Net current assets
111,258
88,390
Net assets
128,917
109,386
Called up share capital
100
100
Profit and loss account
128,817
109,286
Shareholders' funds
128,917
109,386
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 November 2023 and were signed on its behalf by
Kevin Watret
Director
Company Registration No. SC587792
Maulscastle Farm Limited
Notes to the Accounts
for the year ended 28 February 2023
Maulscastle Farm Limited is a private company, limited by shares, registered in Scotland, registration number SC587792. The registered office is 25 NORTHFIELD PARK, ANNAN, DG12 5EZ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 28 February 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 March 2022
11,995
16,000
27,995
At 28 February 2023
14,545
16,000
30,545
At 1 March 2022
2,999
4,000
6,999
Charge for the year
2,887
3,000
5,887
At 28 February 2023
5,886
7,000
12,886
At 28 February 2023
8,659
9,000
17,659
At 28 February 2022
8,996
12,000
20,996
Maulscastle Farm Limited
Notes to the Accounts
for the year ended 28 February 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
-
5,997
Trade creditors
41,615
35,442
Taxes and social security
5,185
19,865
Loans from directors
135,776
139,876
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).