Company Registration No. SC173850 (Scotland)
Roslin Nutrition Limited
Unaudited financial statements
for the year ended 31 March 2023
Pages for filing with the registrar
Roslin Nutrition Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Roslin Nutrition Limited
Balance sheet
As at 31 March 2023
31 March 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
320,769
367,783
320,769
367,783
Current assets
Stocks
33,994
50,247
Debtors
6
198,120
232,746
Cash at bank and in hand
562
661
232,676
283,654
Creditors: amounts falling due within one year
7
(640,730)
(512,442)
Net current liabilities
(408,054)
(228,788)
Total assets less current liabilities
(87,285)
138,995
Creditors: amounts falling due after more than one year
8
(79,237)
(100,847)
Net (liabilities)/assets
(166,522)
38,148
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(166,523)
38,147
Total equity
(166,522)
38,148
Roslin Nutrition Limited
Balance sheet (continued)
As at 31 March 2023
31 March 2023
2

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 20 October 2023 and are signed on its behalf by:
Douglas Currie
Lord Wemyss
Director
Director
Company Registration No. SC173850
Roslin Nutrition Limited
Notes to the financial statements
For the year ended 31 March 2023
3
1
Accounting policies
Company information

Roslin Nutrition Limited is a private company limited by shares incorporated in Scotland. The registered office is Gosford Mill, Gosford, Longniddry, East Lothian, EH32 0PX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable in respect of the provision of nutritional evaluation services of animal feed and the sale of organic animal feed, and is shown net of VAT.

1.3
Intangible fixed assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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

Website
25% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Land and buildings
5% straight line
Plant and machinery
5% - 20% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
25% straight line

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

Roslin Nutrition Limited
Notes to the financial statements (continued)
For the year ended 31 March 2023
1
Accounting policies (continued)
4
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, 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.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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.

 

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.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Roslin Nutrition Limited
Notes to the financial statements (continued)
For the year ended 31 March 2023
5
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
10
10
4
Intangible fixed assets
Website
£
Cost
At 1 April 2022 and 31 March 2023
10,100
Amortisation and impairment
At 1 April 2022 and 31 March 2023
10,100
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2022 and 31 March 2023
29,667
985,597
1,015,264
Depreciation and impairment
At 1 April 2022
12,187
635,294
647,481
Depreciation charged in the year
1,483
45,531
47,014
At 31 March 2023
13,670
680,825
694,495
Carrying amount
At 31 March 2023
15,997
304,772
320,769
At 31 March 2022
17,480
350,303
367,783
Roslin Nutrition Limited
Notes to the financial statements (continued)
For the year ended 31 March 2023
6
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
167,056
203,480
Other debtors
31,064
29,266
198,120
232,746
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
146,622
69,042
Trade creditors
37,438
16,327
Taxation and social security
4,980
6,982
Other creditors
451,690
420,091
640,730
512,442
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
79,237
100,847
The bank loan is secured by a floating charge in favour of the Bank of Scotland plc which was granted on 17 May 2021 over the assets of the company.
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
5,571
8,047
2023-03-312022-04-01false20 October 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityDouglas CurrieMartin AndrewsLord WemyssSC1738502022-04-012023-03-31SC1738502023-03-31SC1738502022-03-31SC173850core:LandBuildings2023-03-31SC173850core:OtherPropertyPlantEquipment2023-03-31SC173850core:LandBuildings2022-03-31SC173850core:OtherPropertyPlantEquipment2022-03-31SC173850core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-31SC173850core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-31SC173850core:CurrentFinancialInstruments2023-03-31SC173850core:CurrentFinancialInstruments2022-03-31SC173850core:Non-currentFinancialInstruments2023-03-31SC173850core:Non-currentFinancialInstruments2022-03-31SC173850core:ShareCapital2023-03-31SC173850core:ShareCapital2022-03-31SC173850core:RetainedEarningsAccumulatedLosses2023-03-31SC173850core:RetainedEarningsAccumulatedLosses2022-03-31SC173850bus:Director12022-04-012023-03-31SC173850bus:Director32022-04-012023-03-31SC173850core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-31SC173850core:LandBuildingscore:OwnedOrFreeholdAssets2022-04-012023-03-31SC173850core:PlantMachinery2022-04-012023-03-31SC173850core:FurnitureFittings2022-04-012023-03-31SC173850core:MotorVehicles2022-04-012023-03-31SC1738502021-04-012022-03-31SC173850core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-03-31SC173850core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-03-31SC173850core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-03-31SC173850core:LandBuildings2022-03-31SC173850core:OtherPropertyPlantEquipment2022-03-31SC1738502022-03-31SC173850core:LandBuildings2022-04-012023-03-31SC173850core:OtherPropertyPlantEquipment2022-04-012023-03-31SC173850core:WithinOneYear2023-03-31SC173850core:WithinOneYear2022-03-31SC173850bus:PrivateLimitedCompanyLtd2022-04-012023-03-31SC173850bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-31SC173850bus:FRS1022022-04-012023-03-31SC173850bus:AuditExempt-NoAccountantsReport2022-04-012023-03-31SC173850bus:Director22022-04-012023-03-31SC173850bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP