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Registered number: SC164887










ARNOT FARMS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

 
ARNOT FARMS LIMITED
 

COMPANY INFORMATION


DIRECTORS
Alan David Arnot 
Patrick Sim Arnot 




COMPANY SECRETARY
Alan David Arnot



REGISTERED NUMBER
SC164887



REGISTERED OFFICE
Hatton Mill Farm
Friockheim

By Arbroath

Angus

DD11 4UL




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
ARNOT FARMS LIMITED
REGISTERED NUMBER:SC164887

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
                                                                Note
£
£

  

Current assets
  

Debtors
 4 
2,821,188
2,748,801

Cash at bank and in hand
  
1,000
-

  
2,822,188
2,748,801

Creditors: amounts falling due within one year
 5 
(20,816)
(19,583)

Net current assets
  
 
 
2,801,372
 
 
2,729,218

Total assets less current liabilities
  
2,801,372
2,729,218

  

Net assets
  
2,801,372
2,729,218


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,801,272
2,729,118

  
2,801,372
2,729,218


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 February 2024.




Alan David Arnot
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
ARNOT FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


GENERAL INFORMATION

Arnot Farms Limited is a company limited by shares and is incorporated in Scotland. The registered office is Hatton Mill Farm, Friockheim, By Arbroath, Angus, DD11 4UL.
 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Company's business

The company's business is farming through participation in the farming partnership of Messrs Hatton Mill Farms.
Income comprises the company's share in the partnership profits or losses each year.  The book value of its interest in the partnership comprises the balance standing to its credit on the current and capital accounts in the books of that business.

 
2.3

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.4

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 2

 
ARNOT FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


DEBTORS

2023
2022
£
£

DUE AFTER MORE THAN ONE YEAR

Capital account in related partnership of Hatton MIll Farms
1,800,000
1,800,000

1,800,000
1,800,000

DUE WITHIN ONE YEAR

Current account in related partnership of Hatton Mill Farms
1,021,188
948,801

2,821,188
2,748,801



5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Other creditors
20,096
18,863

Accruals and deferred income
720
720

20,816
19,583



Page 3