Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31false2022-08-01No description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC464064 2022-08-01 2023-07-31 SC464064 2021-08-01 2022-07-31 SC464064 2023-07-31 SC464064 2022-07-31 SC464064 c:CompanySecretary1 2022-08-01 2023-07-31 SC464064 c:Director1 2022-08-01 2023-07-31 SC464064 c:Director2 2022-08-01 2023-07-31 SC464064 c:RegisteredOffice 2022-08-01 2023-07-31 SC464064 d:CurrentFinancialInstruments 2023-07-31 SC464064 d:CurrentFinancialInstruments 2022-07-31 SC464064 d:Non-currentFinancialInstruments 2023-07-31 SC464064 d:Non-currentFinancialInstruments 2022-07-31 SC464064 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 SC464064 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 SC464064 d:ShareCapital 2023-07-31 SC464064 d:ShareCapital 2022-07-31 SC464064 d:RetainedEarningsAccumulatedLosses 2023-07-31 SC464064 d:RetainedEarningsAccumulatedLosses 2022-07-31 SC464064 c:OrdinaryShareClass1 2022-08-01 2023-07-31 SC464064 c:OrdinaryShareClass1 2023-07-31 SC464064 c:OrdinaryShareClass1 2022-07-31 SC464064 c:FRS102 2022-08-01 2023-07-31 SC464064 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SC464064 c:FullAccounts 2022-08-01 2023-07-31 SC464064 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC464064 6 2022-08-01 2023-07-31 SC464064 e:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC464064










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

 
MONIKIE FARMS LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr I Fairlie 
Mrs R Fairlie 




COMPANY SECRETARY
Mr I Fairlie



REGISTERED NUMBER
SC464064



REGISTERED OFFICE
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
MONIKIE FARMS LIMITED
REGISTERED NUMBER: SC464064

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
£
£

FIXED ASSETS
  

Investments
 4 
101
101

  
101
101

CURRENT ASSETS
  

Debtors
 5 
1,507,623
1,370,832

  
1,507,623
1,370,832

Creditors: amounts falling due within one year
 6 
(780)
(2,492)

NET CURRENT ASSETS
  
 
 
1,506,843
 
 
1,368,340

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,506,944
1,368,441

  

NET ASSETS
  
1,506,944
1,368,441


CAPITAL AND RESERVES
  

Called up share capital 
 7 
1,000
1,000

Profit and loss account
  
1,505,944
1,367,441

  
1,506,944
1,368,441


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 4 April 2024.


Mr I Fairlie
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
MONIKIE FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


GENERAL INFORMATION

Monikie Farms Limited is a private company, limited by shares, incorporated in Scotland with registration number SC464064.  The registered office is Westby, 64 West High Street, Forfar, Angus, DD8 1BJ.  The principal place of business is Kirkton of Monikie, Broughty Ferry, Dundee, DD5 3QN. 
The financial statements are presented in Sterling which is the functional currency of the Company, rounded to the nearest £.

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 partnership of Fairlie Farming Company.
Income comprises the company's share in the partnership profits for each year. The book value of the company's 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

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 2

 
MONIKIE FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

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.


FIXED ASSET INVESTMENTS





Investments in associates

£



COST OR VALUATION


At 1 August 2022
101



At 31 July 2023
101





5.


DEBTORS

2023
2022
£
£

DUE AFTER MORE THAN ONE YEAR

Capital account in related partnership of Fairlie Farming Company
1,470,000
1,120,000

1,470,000
1,120,000

DUE WITHIN ONE YEAR

Current account in related partnership of Fairlie Farming Company
7,290
190,499

Amounts owed by joint ventures and associated undertakings
30,333
60,333

1,507,623
1,370,832


Page 3

 
MONIKIE FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Other creditors
-
1,712

Accruals and deferred income
780
780

780
2,492



7.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



Page 4