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REGISTERED NUMBER: SC163484 (Scotland)















Financial Statements for the Year Ended 31 May 2023

for

Shand Farms Limited

Shand Farms Limited (Registered number: SC163484)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shand Farms Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: A G Shand





SECRETARY: I Shand





REGISTERED OFFICE: Burnside Farm
Methlick
Aberdeenshire
AB41 7JG





REGISTERED NUMBER: SC163484 (Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
Aberdeenshire
AB41 9LJ

Shand Farms Limited (Registered number: SC163484)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,424 65,397

CURRENT ASSETS
Stocks 23,196 23,196
Debtors 5 14,521 11,764
37,717 34,960
CREDITORS
Amounts falling due within one year 6 161,953 175,335
NET CURRENT LIABILITIES (124,236 ) (140,375 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(67,812

)

(74,978

)

CREDITORS
Amounts falling due after more than one year 7 9,721 14,721
NET LIABILITIES (77,533 ) (89,699 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (77,633 ) (89,799 )
SHAREHOLDERS' FUNDS (77,533 ) (89,699 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Shand Farms Limited (Registered number: SC163484)

Balance Sheet - continued
31 May 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 director and authorised for issue on 21 February 2024 and were signed by:





A G Shand - Director


Shand Farms Limited (Registered number: SC163484)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Shand Farms 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.

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.
Plant and machinery - 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 June 2022 32,637 177,834 210,471
Additions - 2,000 2,000
Disposals - (4,675 ) (4,675 )
At 31 May 2023 32,637 175,159 207,796
DEPRECIATION
At 1 June 2022 - 145,074 145,074
Charge for year - 10,411 10,411
Eliminated on disposal - (4,113 ) (4,113 )
At 31 May 2023 - 151,372 151,372
NET BOOK VALUE
At 31 May 2023 32,637 23,787 56,424
At 31 May 2022 32,637 32,760 65,397

Shand Farms Limited (Registered number: SC163484)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 14,521 11,764

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 35,478 52,978
Hire purchase contracts 5,000 5,000
Trade creditors 8,146 6,505
Taxation and social security 2,120 1,500
Other creditors 111,209 109,352
161,953 175,335

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 9,721 14,721

8. RELATED PARTY DISCLOSURES

During the year the director A.G Shand advanced the company net amounts totalling £109,961. This amount remained outstanding at 31/05/2023 and is included within other creditors in the notes to the accounts

9. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the director A.G Shand by virtue of his 100% holding in the ordinary share capital of the company.