Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31false22022-06-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC687163 2022-06-01 2023-05-31 SC687163 2021-01-27 2022-05-31 SC687163 2023-05-31 SC687163 2022-05-31 SC687163 c:Director1 2022-06-01 2023-05-31 SC687163 c:Director2 2022-06-01 2023-05-31 SC687163 c:RegisteredOffice 2022-06-01 2023-05-31 SC687163 d:Buildings 2022-06-01 2023-05-31 SC687163 d:Buildings 2023-05-31 SC687163 d:Buildings 2022-05-31 SC687163 d:Buildings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC687163 d:PlantMachinery 2022-06-01 2023-05-31 SC687163 d:PlantMachinery 2023-05-31 SC687163 d:PlantMachinery 2022-05-31 SC687163 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC687163 d:FurnitureFittings 2023-05-31 SC687163 d:FurnitureFittings 2022-05-31 SC687163 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC687163 d:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 SC687163 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC687163 d:CurrentFinancialInstruments 2023-05-31 SC687163 d:CurrentFinancialInstruments 2022-05-31 SC687163 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 SC687163 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 SC687163 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 SC687163 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 SC687163 d:ShareCapital 2023-05-31 SC687163 d:ShareCapital 2022-05-31 SC687163 d:RetainedEarningsAccumulatedLosses 2023-05-31 SC687163 d:RetainedEarningsAccumulatedLosses 2022-05-31 SC687163 c:OrdinaryShareClass1 2022-06-01 2023-05-31 SC687163 c:OrdinaryShareClass1 2023-05-31 SC687163 c:OrdinaryShareClass1 2022-05-31 SC687163 c:FRS102 2022-06-01 2023-05-31 SC687163 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 SC687163 c:FullAccounts 2022-06-01 2023-05-31 SC687163 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC687163










The Snug at Logie Farm LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

 
THE SNUG AT LOGIE FARM LTD
 

COMPANY INFORMATION


Directors
Mrs J W H Morris 
Mr A W D Morris 




Registered number
SC687163



Registered office
The Farmhouse
Logie Farm

Newburgh

Cupar

KY14 6HL





 
THE SNUG AT LOGIE FARM LTD
REGISTERED NUMBER: SC687163

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
120,009
132,111

  
120,009
132,111

Current assets
  

Debtors: amounts falling due within one year
 5 
350
1,896

Cash at bank and in hand
  
-
6,354

  
350
8,250

Creditors: amounts falling due within one year
 6 
(111,173)
(142,802)

Net current liabilities
  
 
 
(110,823)
 
 
(134,552)

Total assets less current liabilities
  
9,186
(2,441)

Creditors: amounts falling due after more than one year
  
(4,009)
(4,130)

Provisions for liabilities
  

Deferred tax
  
(4,529)
-

  
 
 
(4,529)
 
 
-

Net assets/(liabilities)
  
648
(6,571)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
548
(6,671)

  
648
(6,571)


Page 1

 
THE SNUG AT LOGIE FARM LTD
REGISTERED NUMBER: SC687163

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 28 November 2023.




Mrs J W H Morris
Mr A W D Morris
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THE SNUG AT LOGIE FARM LTD
 

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

1.


General information

The Snug at Logie Farm Ltd is a private company, limited by shares, domiciled in Scotland with registration number SC687163. The company's registered office is The Farmhouse, Logie Farm, Newburgh, Cupar, Scotland, KY14 6HL and its principal place of business is Logie Farm, Newburgh, Cupar, Scotland, KY14 6HL.

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

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue 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 revenue is recognised:

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 revenue 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.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
THE SNUG AT LOGIE FARM LTD
 

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

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements
-
5%
Plant and machinery
-
20%
Pods
-
5%

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

 
THE SNUG AT LOGIE FARM LTD
 

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

2.Accounting policies (continued)

 
2.6

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
2
2

Page 5

 
THE SNUG AT LOGIE FARM LTD
 

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

4.


Tangible fixed assets





Property Imprvs.
Plant and machinery
Pods
Total

£
£
£
£



Cost or valuation


At 1 June 2022
21,113
32,584
90,515
144,212



At 31 May 2023

21,113
32,584
90,515
144,212



Depreciation


At 1 June 2022
1,058
6,517
4,526
12,101


Charge for the year on owned assets
1,058
6,517
4,527
12,102



At 31 May 2023

2,116
13,034
9,053
24,203



Net book value



At 31 May 2023
18,997
19,550
81,462
120,009



At 31 May 2022
20,055
26,067
85,989
132,111


5.


Debtors

2023
2022
£
£


Other debtors
-
1,896

Prepayments and accrued income
350
-

350
1,896


Page 6

 
THE SNUG AT LOGIE FARM LTD
 

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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
3,791
-

Trade creditors
-
12,000

Other taxation and social security
1,752
-

Obligations under finance lease and hire purchase contracts
4,942
2,608

Other creditors
99,188
126,694

Accruals and deferred income
1,500
1,500

111,173
142,802


Obligations under finance lease and hire purchase contratcs are secured against the assets to which they relate.

Page 7

 
THE SNUG AT LOGIE FARM LTD
 

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

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



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



Page 8