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REGISTERED NUMBER: SC301209 (Scotland)





















Unaudited Financial Statements

For The Year Ended 30 April 2023

for

North Quarter Farm Limited

North Quarter Farm Limited (Registered number: SC301209)






Contents of the Financial Statements
For The Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

North Quarter Farm Limited

Company Information
For The Year Ended 30 April 2023







DIRECTORS: A Frame
Mrs E A Frame





SECRETARY: Mrs E A Frame





REGISTERED OFFICE: North Quarter Farm
Hamilton
Lanarkshire
ML3 7XQ





REGISTERED NUMBER: SC301209 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

North Quarter Farm Limited (Registered number: SC301209)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 130,747 166,258

CURRENT ASSETS
Stocks 120,040 146,181
Debtors 5 2,436 19,888
Cash at bank 32,595 3,579
155,071 169,648
CREDITORS
Amounts falling due within one year 6 13,862 283,494
NET CURRENT ASSETS/(LIABILITIES) 141,209 (113,846 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

271,956

52,412

CREDITORS
Amounts falling due after more than one
year

7

(297,489

)

(48,379

)

PROVISIONS FOR LIABILITIES (13,741 ) -
NET (LIABILITIES)/ASSETS (39,274 ) 4,033

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (39,374 ) 3,933
SHAREHOLDERS' FUNDS (39,274 ) 4,033

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

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

North Quarter Farm Limited (Registered number: SC301209)

Balance Sheet - continued
30 April 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 Board of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by:





A Frame - Director


North Quarter Farm Limited (Registered number: SC301209)

Notes to the Financial Statements
For The Year Ended 30 April 2023

1. STATUTORY INFORMATION

North Quarter Farm 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.

These accounts have been prepared on the going concern basis, on the understanding that the directors will continue to support the business during this uncertain period.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

North Quarter Farm Limited (Registered number: SC301209)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2022 302,882 35,615 1,631 340,128
Additions 49,191 - - 49,191
Disposals (127,760 ) - - (127,760 )
At 30 April 2023 224,313 35,615 1,631 261,559
DEPRECIATION
At 1 May 2022 156,160 16,451 1,259 173,870
Charge for year 17,402 4,791 187 22,380
Eliminated on disposal (65,438 ) - - (65,438 )
At 30 April 2023 108,124 21,242 1,446 130,812
NET BOOK VALUE
At 30 April 2023 116,189 14,373 185 130,747
At 30 April 2022 146,722 19,164 372 166,258

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors - 14,460
Other debtors 2,436 5,428
2,436 19,888

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 1,833 7,122
Trade creditors 1 -
Taxation and social security 12 -
Other creditors 2,016 266,372
13,862 283,494

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 22,500 32,500
Hire purchase contracts - 15,879
Other creditors 274,989 -
297,489 48,379

North Quarter Farm Limited

Report of the Accountants to the Directors of
North Quarter Farm 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 Balance Sheet. 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2023 set out on pages one to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


19 January 2024