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REGISTERED NUMBER: SC155163 (Scotland)






































Kames Dairies Limited

Unaudited Financial Statements

for the Year Ended 28th May 2023






Kames Dairies Limited (Registered number: SC155163)






Contents of the Financial Statements
for the year ended 28th May 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Kames Dairies Limited

Company Information
for the year ended 28th May 2023







Directors: O J Jenkinson
Mrs M J Jenkinson
D J Jenkinson





Secretary: D A C Platt





Registered office: FBR Seed
Rose Lane
Kelso
Roxburghshire
TD5 7AP





Registered number: SC155163 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Kames Dairies Limited (Registered number: SC155163)

Balance Sheet
28th May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,306,054 3,324,411

Current assets
Stocks 156,938 127,462
Debtors 5 662,288 622,815
Cash at bank 1,008,806 997,876
1,828,032 1,748,153
Creditors
Amounts falling due within one year 6 184,525 223,314
Net current assets 1,643,507 1,524,839
Total assets less current liabilities 4,949,561 4,849,250

Creditors
Amounts falling due after more than one
year

7

3,983

-
Net assets 4,945,578 4,849,250

Capital and reserves
Called up share capital 6,567,428 6,567,428
Retained earnings (1,621,850 ) (1,718,178 )
Shareholders' funds 4,945,578 4,849,250

Kames Dairies Limited (Registered number: SC155163)

Balance Sheet - continued
28th May 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th May 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th January 2024 and were signed on its behalf by:





Mrs M J Jenkinson - Director


Kames Dairies Limited (Registered number: SC155163)

Notes to the Financial Statements
for the year ended 28th May 2023

1. Statutory information

Kames Dairies 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.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Property improvements - 4% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

No depreciation is provided on heritable land.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stocks to completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, other loans, hire purchase contracts and accruals.

Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Trade debtors, trade creditors, other loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Kames Dairies Limited (Registered number: SC155163)

Notes to the Financial Statements - continued
for the year ended 28th May 2023

2. Accounting policies - continued

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on straight line basis over the period of the lease.

Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

Kames Dairies Limited (Registered number: SC155163)

Notes to the Financial Statements - continued
for the year ended 28th May 2023

4. Tangible fixed assets
Land and Property Plant and Motor
buildings improvements machinery vehicles Totals
£    £    £    £    £   
Cost
At 29th May 2022 3,340,499 1,487,330 297,402 174,716 5,299,947
Additions - - 32,650 - 32,650
Disposals - - - (18,500 ) (18,500 )
At 28th May 2023 3,340,499 1,487,330 330,052 156,216 5,314,097
Depreciation
At 29th May 2022 160,600 1,445,337 264,806 104,793 1,975,536
Charge for year 7,300 5,524 16,312 16,017 45,153
Eliminated on disposal - - - (12,646 ) (12,646 )
At 28th May 2023 167,900 1,450,861 281,118 108,164 2,008,043
Net book value
At 28th May 2023 3,172,599 36,469 48,934 48,052 3,306,054
At 28th May 2022 3,179,899 41,993 32,596 69,923 3,324,411

Included in cost of land and buildings is freehold land of £ 2,975,499 (2022 - £ 2,975,499 ) which is not depreciated.


5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 100,461 57,526
Amounts owed by participating interests 530,000 530,000
Other debtors 31,827 35,289
662,288 622,815

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Hire purchase contracts 3,983 -
Trade creditors 171,889 209,093
Taxation and social security 8,653 10,221
Other creditors - 4,000
184,525 223,314

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts 3,983 -

Kames Dairies Limited (Registered number: SC155163)

Notes to the Financial Statements - continued
for the year ended 28th May 2023

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 7,966 -

Hire purchase contracts are secured against the assets to which they relate.