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REGISTERED NUMBER: SC295888 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

YOOLOW POTATOES LIMITED

YOOLOW POTATOES LIMITED (REGISTERED NUMBER: SC295888)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

YOOLOW POTATOES LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTORS: Mr D Y Stewart
Mrs A M Stewart





REGISTERED OFFICE: Amicable House
252 Union Street
Aberdeen
Aberdeenshire
AB10 1TN





REGISTERED NUMBER: SC295888 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

YOOLOW POTATOES LIMITED (REGISTERED NUMBER: SC295888)

STATEMENT OF FINANCIAL POSITION
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 822,027 886,141

CURRENT ASSETS
Stocks 773,540 651,041
Debtors 5 380,639 334,689
Cash at bank 106,730 61,971
1,260,909 1,047,701
CREDITORS
Amounts falling due within one year 6 768,843 658,115
NET CURRENT ASSETS 492,066 389,586
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,314,093

1,275,727

CREDITORS
Amounts falling due after more than one year 7 1,127,266 1,185,900
NET ASSETS 186,827 89,827

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 10 40,000 40,000
Retained earnings 146,825 49,825
SHAREHOLDERS' FUNDS 186,827 89,827

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 28 March 2024 and were signed on its behalf by:





Mr D Y Stewart - Director


YOOLOW POTATOES LIMITED (REGISTERED NUMBER: SC295888)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Yoolow Potatoes 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of goods and services net of value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 25% reducing balance
Computer equipment - 33% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Stocks
Stock is 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 statement of financial position date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

YOOLOW POTATOES LIMITED (REGISTERED NUMBER: SC295888)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2022 100,000 375,553 910,607
Additions - - 97,367
Disposals - - (13,500 )
At 30 June 2023 100,000 375,553 994,474
DEPRECIATION
At 1 July 2022 - 186,796 314,283
Charge for year - 28,314 132,663
Eliminated on disposal - - (13,260 )
At 30 June 2023 - 215,110 433,686
NET BOOK VALUE
At 30 June 2023 100,000 160,443 560,788
At 30 June 2022 100,000 188,757 596,324

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 1,395 500 320 1,388,375
Additions - - - 97,367
Disposals - - - (13,500 )
At 30 June 2023 1,395 500 320 1,472,242
DEPRECIATION
At 1 July 2022 610 225 320 502,234
Charge for year 196 68 - 161,241
Eliminated on disposal - - - (13,260 )
At 30 June 2023 806 293 320 650,215
NET BOOK VALUE
At 30 June 2023 589 207 - 822,027
At 30 June 2022 785 275 - 886,141

In the year to 30 June 2009, potato boxes which are included in plant and machinery were revalued to £140,000 from a net book value of £50,000, cost of £100,000. Going forward these assets will not be depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 196,240 234,335
Other debtors 184,399 100,354
380,639 334,689

YOOLOW POTATOES LIMITED (REGISTERED NUMBER: SC295888)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 69,164 103,592
Hire purchase contracts (see note 8) 108,552 97,096
Trade creditors 404,955 289,215
Taxation and social security 61,982 66,581
Other creditors 124,190 101,631
768,843 658,115

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 825,904 852,708
Hire purchase contracts (see note 8) 301,362 333,192
1,127,266 1,185,900

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 670,000 526,460

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 108,552 97,096
Between one and five years 301,362 333,192
409,914 430,288

Non-cancellable operating leases
2023 2022
£    £   
Within one year 9,557 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 895,068 956,300

The loans and overdraft facility are secured by:-
a) Guarantee by Firm of D & M Stewart for £200,000 and relative interest;
b) Guarantee by the directors Mr D Y Stewart and Mrs A M Stewart for £333,000;
c) Guarantee by the directors Mr D Y Stewart and Mrs A M Stewart for £49,000;
d) First Standard Security over Holiday Chalets at Huntingtower Lodges, Huntingtower, by Perth;
e) First Standard Security over 1 Deer Park, Pitcairnfield, Almondbank, Perth; and
f) Bond & Floating Charge by Yoolow Potatoes Limited over its whole property and undertaking;

YOOLOW POTATOES LIMITED (REGISTERED NUMBER: SC295888)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

10. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 40,000

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
Mr D Y Stewart
Balance outstanding at start of year (50,482 ) (25,157 )
Amounts advanced 11,200 4,566
Amounts repaid (22,813 ) (29,891 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (62,095 ) (50,482 )

Mrs A M Stewart
Balance outstanding at start of year (50,482 ) (25,157 )
Amounts advanced 11,200 4,566
Amounts repaid (22,813 ) (29,891 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (62,095 ) (50,482 )

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, Mr D Y Stewart and Mrs A M Stewart, who, in aggregate, own 100% of the issued share capital.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
YOOLOW POTATOES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Yoolow Potatoes Limited for the year ended 30 June 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Yoolow Potatoes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Yoolow Potatoes Limited and state those matters that we have agreed to state to the Board of Directors of Yoolow Potatoes Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Yoolow Potatoes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Yoolow Potatoes Limited. You consider that Yoolow Potatoes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Yoolow Potatoes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


29 March 2024