Caseware UK (AP4) 2022.0.179 2022.0.179 2023-11-302023-11-30false12022-12-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC179720 2022-12-01 2023-11-30 SC179720 2021-12-01 2022-11-30 SC179720 2023-11-30 SC179720 2022-11-30 SC179720 c:Director1 2022-12-01 2023-11-30 SC179720 c:RegisteredOffice 2022-12-01 2023-11-30 SC179720 d:Buildings 2022-12-01 2023-11-30 SC179720 d:Buildings 2023-11-30 SC179720 d:Buildings 2022-11-30 SC179720 d:Buildings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 SC179720 d:PlantMachinery 2022-12-01 2023-11-30 SC179720 d:PlantMachinery 2023-11-30 SC179720 d:PlantMachinery 2022-11-30 SC179720 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 SC179720 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 SC179720 d:CurrentFinancialInstruments 2023-11-30 SC179720 d:CurrentFinancialInstruments 2022-11-30 SC179720 d:Non-currentFinancialInstruments 2023-11-30 SC179720 d:Non-currentFinancialInstruments 2022-11-30 SC179720 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 SC179720 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 SC179720 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 SC179720 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 SC179720 d:ShareCapital 2023-11-30 SC179720 d:ShareCapital 2022-11-30 SC179720 d:CapitalRedemptionReserve 2023-11-30 SC179720 d:CapitalRedemptionReserve 2022-11-30 SC179720 d:RetainedEarningsAccumulatedLosses 2023-11-30 SC179720 d:RetainedEarningsAccumulatedLosses 2022-11-30 SC179720 c:OrdinaryShareClass2 2022-12-01 2023-11-30 SC179720 c:OrdinaryShareClass2 2023-11-30 SC179720 c:OrdinaryShareClass2 2022-11-30 SC179720 c:FRS102 2022-12-01 2023-11-30 SC179720 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 SC179720 c:FullAccounts 2022-12-01 2023-11-30 SC179720 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC179720 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC179720










BALSILLIE FARM LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

 
BALSILLIE FARM LIMITED
 

COMPANY INFORMATION


Director
Mr N Skene 




Registered number
SC179720



Registered office
Skene House
Viewfield Road

Viewfield Industrial Estate

Glenrothes

Fife

KY6 2RD




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
BALSILLIE FARM LIMITED
REGISTERED NUMBER: SC179720

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

As restated
2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
1,147,464
1,071,438

  
1,147,464
1,071,438

Current assets
  

Debtors: amounts falling due within one year
 5 
248,523
536,213

Cash at bank and in hand
  
1,939,079
1,291,812

  
2,187,602
1,828,025

Creditors: amounts falling due within one year
 6 
(320,521)
(315,408)

Net current assets
  
 
 
1,867,081
 
 
1,512,617

Total assets less current liabilities
  
3,014,545
2,584,055

Creditors: amounts falling due after more than one year
 7 
(478,494)
(404,658)

Provisions for liabilities
  

Deferred tax
  
(104,610)
(59,815)

  
 
 
(104,610)
 
 
(59,815)

Net assets
  
2,431,441
2,119,582


Capital and reserves
  

Called up share capital 
 8 
2,500
2,500

Capital redemption reserve
  
14,500
14,500

Profit and loss account
  
2,414,441
2,102,582

  
2,431,441
2,119,582

Page 1

 
BALSILLIE FARM LIMITED
REGISTERED NUMBER: SC179720

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

The director considers 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 director acknowledges his 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 comprehensive income 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 1 April 2024.




Mr N Skene
Director

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

Page 2

 
BALSILLIE FARM LIMITED
 

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

1.


General information

Balsillie Farm Limited is a private company, limited by shares and incorporated in Scotland, registration number SC179720. The registered office address is Skene House, Viewfield Road, Viewfield Industrial Estate, Glenrothes Fife, KY6 2RD.
The financial statements are presented in Sterling which is the functional currency of the Company and 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

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.

Page 3

 
BALSILLIE FARM LIMITED
 

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

2.Accounting policies (continued)

 
2.3

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
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 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

Agricultural support scheme

Income from the Basic Payment Scheme is not recognised until 31 December of the relevant scheme year, when all conditions of the scheme have been complied with.
Page 4

 
BALSILLIE FARM LIMITED
 

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

2.Accounting policies (continued)

 
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, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Plant and machinery
-
20% straight line

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.

 
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.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
BALSILLIE FARM LIMITED
 

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

4.


Tangible fixed assets





Freehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 December 2022
413,855
2,493,026
2,906,881


Additions
-
307,605
307,605


Disposals
-
(351,305)
(351,305)



At 30 November 2023

413,855
2,449,326
2,863,181



Depreciation


At 1 December 2022
19,849
1,815,594
1,835,443


Charge for the year on owned assets
794
230,785
231,579


Disposals
-
(351,305)
(351,305)



At 30 November 2023

20,643
1,695,074
1,715,717



Net book value



At 30 November 2023
393,212
754,252
1,147,464



At 30 November 2022
394,006
677,432
1,071,438


5.


Debtors

2023
2022
£
£


Trade debtors
206,313
519,468

Other debtors
39,125
14,364

Prepayments and accrued income
3,085
2,381

248,523
536,213


Page 6

 
BALSILLIE FARM LIMITED
 

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

6.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Trade creditors
20,322
30,081

Other taxation and social security
113,289
61,981

Obligations under finance lease and hire purchase contracts
178,720
213,218

Accruals and deferred income
8,190
10,128

320,521
315,408


Secured loans
Hire purchase creditors are secured by the relevant assets.


7.


Creditors: Amounts falling due after more than one year

As restated
2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
478,494
404,658


Secured loans
Hire purchase creditors are secured by the relevant assets.


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2,500 (2022 - 2,500) Ordinary B shares of £1.00 each
2,500
2,500



9.


Prior year adjustment

Hire purchase creditors as at 30 November 2022 have been restated due to a disclosure error.  Hire purchase creditors falling due within one year have decreased by £74,426 with a corresponding increase in hire purchase creditors falling due after more than one year.
As a consequence of a change in disclosure policy trade creditors and accruals have been restated as at 30 November 2022.  Trade creditors have increased by £30,050 and accruals have decreased by the same amount.


Page 7