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FIFE CROPS LIMITED

Registered Number
SC158672
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2023

FIFE CROPS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Sharon Bisset
Elizabeth Patricia Boyne
George Alexander Meldrum Boyne
Kelly Janet Smith Laing
Llana Mcintosh Reekie

Registered Address

The Farmhouse,Cashmill
Auchtermuchty
Cupar
KY14 7EP

Registered Number

SC158672 (Scotland)
FIFE CROPS LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets34,2766,006
Investments563,04945,949
Investment property4515,585515,585
582,910567,540
Current assets
Debtors6486429
Cash at bank and on hand47,72261,990
48,20862,419
Creditors amounts falling due within one year7(4,450)(6,642)
Net current assets (liabilities)43,75855,777
Total assets less current liabilities626,668623,317
Provisions for liabilities(812)(1,141)
Net assets625,856622,176
Capital and reserves
Called up share capital20,00020,000
Other reserves40,00040,000
Profit and loss account565,856562,176
Shareholders' funds625,856622,176
The financial statements were approved and authorised for issue by the Board of Directors on 16 April 2024, and are signed on its behalf by:
George Alexander Meldrum Boyne
Director
Registered Company No. SC158672
FIFE CROPS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year55
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 January 2317,15917,159
Additions160160
Disposals(11,142)(11,142)
At 31 December 236,1776,177
Depreciation and impairment
At 01 January 2311,15311,153
Charge for year1,5391,539
On disposals(10,791)(10,791)
At 31 December 231,9011,901
Net book value
At 31 December 234,2764,276
At 31 December 226,0066,006
4.Investment property

£
Fair value at 01 January 23515,585
At 31 December 23515,585
5.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 January 2345,94945,949
Additions17,10017,100
At 31 December 2363,04963,049
Net book value
At 31 December 2363,04963,049
At 31 December 2245,94945,949

Notes

1Other investments other than loans
6.Debtors: amounts due within one year

2023

2022

££
Prepayments and accrued income486429
Total486429
7.Creditors: amounts due within one year

2023

2022

££
Taxation and social security2,3634,421
Other creditors9461,082
Accrued liabilities and deferred income1,1411,139
Total4,4506,642