Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-01falseContracting22truetrue SC409987 2022-07-01 2023-06-30 SC409987 2021-07-01 2022-06-30 SC409987 2023-06-30 SC409987 2022-06-30 SC409987 c:CompanySecretary1 2022-07-01 2023-06-30 SC409987 c:Director1 2022-07-01 2023-06-30 SC409987 c:Director2 2022-07-01 2023-06-30 SC409987 c:RegisteredOffice 2022-07-01 2023-06-30 SC409987 d:Buildings 2022-07-01 2023-06-30 SC409987 d:Buildings 2023-06-30 SC409987 d:Buildings 2022-06-30 SC409987 d:Buildings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC409987 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 SC409987 d:Buildings d:LongLeaseholdAssets 2023-06-30 SC409987 d:Buildings d:LongLeaseholdAssets 2022-06-30 SC409987 d:PlantMachinery 2022-07-01 2023-06-30 SC409987 d:PlantMachinery 2023-06-30 SC409987 d:PlantMachinery 2022-06-30 SC409987 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC409987 d:MotorVehicles 2022-07-01 2023-06-30 SC409987 d:MotorVehicles 2023-06-30 SC409987 d:MotorVehicles 2022-06-30 SC409987 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC409987 d:OfficeEquipment 2022-07-01 2023-06-30 SC409987 d:OfficeEquipment 2023-06-30 SC409987 d:OfficeEquipment 2022-06-30 SC409987 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC409987 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC409987 d:CurrentFinancialInstruments 2023-06-30 SC409987 d:CurrentFinancialInstruments 2022-06-30 SC409987 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 SC409987 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 SC409987 d:ShareCapital 2023-06-30 SC409987 d:ShareCapital 2022-06-30 SC409987 d:RetainedEarningsAccumulatedLosses 2023-06-30 SC409987 d:RetainedEarningsAccumulatedLosses 2022-06-30 SC409987 c:OrdinaryShareClass1 2022-07-01 2023-06-30 SC409987 c:OrdinaryShareClass1 2023-06-30 SC409987 c:OrdinaryShareClass1 2022-06-30 SC409987 c:FRS102 2022-07-01 2023-06-30 SC409987 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 SC409987 c:FullAccounts 2022-07-01 2023-06-30 SC409987 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC409987 2 2022-07-01 2023-06-30 SC409987 4 2023-06-30 SC409987 4 2022-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC409987










HODNETT'S (SCOTLAND) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

 
HODNETT'S (SCOTLAND) LTD
 

COMPANY INFORMATION


DIRECTORS
Alistair Hodnett 
Amanda Hodnett 




COMPANY SECRETARY
Amanda Hodnett



REGISTERED NUMBER
SC409987



REGISTERED OFFICE
Westby
64 West High Street

Forfar

Angus

DD8 1BJ





 
HODNETT'S (SCOTLAND) LTD
REGISTERED NUMBER: SC409987

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
555,138
597,678

Investments
 5 
100
100

  
555,238
597,778

CURRENT ASSETS
  

Stocks
  
60,000
12,100

Debtors: amounts falling due within one year
 6 
1,608,812
2,013,841

Bank & cash balances
  
778,577
342,190

  
2,447,389
2,368,131

Creditors: amounts falling due within one year
 7 
(858,423)
(1,025,257)

NET CURRENT ASSETS
  
 
 
1,588,966
 
 
1,342,874

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,144,204
1,940,652

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(48,294)
(57,982)

  
 
 
(48,294)
 
 
(57,982)

NET ASSETS
  
2,095,910
1,882,670


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Profit and loss account
  
2,095,810
1,882,570

  
2,095,910
1,882,670


Page 1

 
HODNETT'S (SCOTLAND) LTD
REGISTERED NUMBER: SC409987

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

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 29 March 2024.



Alistair Hodnett
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
HODNETT'S (SCOTLAND) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


GENERAL INFORMATION

The company Hodnett's Scotland Limited is limited by shares and incorporated in Scotland. The address of the registered office is Westby, 64 West High Street, Forfar, Tayside, DD8 1BJ and the company registration number is SC409987. The company's principal place of business is Balmydown Farm Cottage, Strathmartine, Dundee, DD3 0PQ.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

COMPANIES BUSINESS

The companies business is trading in agricultural commoditties and farming through participation in the farming partnership of M R Hodnett and Partners.

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
HODNETT'S (SCOTLAND) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Nil
Property improvements
-
4% reducing balance
Plant & machinery
-
12.5% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
HODNETT'S (SCOTLAND) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

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.


3.


EMPLOYEES

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


4.


TANGIBLE FIXED ASSETS





Heritable property
Property Improvements
Plant & machinery
Motor 
vehicles
Office equipment

£
£
£
£
£



COST OR VALUATION


At 1 July 2022
284,459
11,796
542,320
34,049
1,257


Additions
-
-
2,707
-
-


Disposals
-
-
(7,957)
-
-



At 30 June 2023

284,459
11,796
537,070
34,049
1,257



DEPRECIATION


At 1 July 2022
-
1,360
259,286
14,896
661


Charge for the year on owned assets
-
417
35,124
4,788
149


Disposals
-
-
(3,188)
-
-



At 30 June 2023

-
1,777
291,222
19,684
810



NET BOOK VALUE



At 30 June 2023
284,459
10,019
245,848
14,365
447



At 30 June 2022
284,459
10,436
283,034
19,153
596
Page 5

 
HODNETT'S (SCOTLAND) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

           4.TANGIBLE FIXED ASSETS (CONTINUED)


Total

£



COST OR VALUATION


At 1 July 2022
873,881


Additions
2,707


Disposals
(7,957)



At 30 June 2023

868,631



DEPRECIATION


At 1 July 2022
276,203


Charge for the year on owned assets
40,478


Disposals
(3,188)



At 30 June 2023

313,493



NET BOOK VALUE



At 30 June 2023
555,138



At 30 June 2022
597,678

Page 6

 
HODNETT'S (SCOTLAND) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


FIXED ASSET INVESTMENTS





Trade investments

£





At 1 July 2022
100






NET BOOK VALUE



At 30 June 2023
100



At 30 June 2022
100


6.


DEBTORS

2023
2022
£
£


Trade debtors
1,077,262
1,814,556

Provision for doubtful debt
-
(8,707)

Amounts owed by joint ventures and associated undertakings
509,995
199,527

Other debtors
21,555
8,465

1,608,812
2,013,841



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
688,697
723,283

Other taxation and social security
74,430
82,259

Other creditors
95,296
219,715

858,423
1,025,257



8.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 7