Silverfin false false 31/10/2023 01/11/2022 31/10/2023 Gordon Cairns 28/11/2014 Alison Mary Campbell Adamson 01/09/2006 Hannah Gillian Campbell Adamson 22/09/2020 Hugh Alexander Campbell Adamson 06/02/1991 James William Campbell Adamson 18/04/2015 Alexander Julian Taylor 18/04/2015 Randal Patrick Gravatt Wilson 02/03/2020 29 April 2024 The principal activity of the Company during the financial year continued to be that of farming and estate management. SC129179 2023-10-31 SC129179 bus:Director1 2023-10-31 SC129179 bus:Director2 2023-10-31 SC129179 bus:Director3 2023-10-31 SC129179 bus:Director4 2023-10-31 SC129179 bus:Director5 2023-10-31 SC129179 bus:Director6 2023-10-31 SC129179 bus:Director7 2023-10-31 SC129179 2022-10-31 SC129179 core:CurrentFinancialInstruments 2023-10-31 SC129179 core:CurrentFinancialInstruments 2022-10-31 SC129179 core:Non-currentFinancialInstruments 2023-10-31 SC129179 core:Non-currentFinancialInstruments 2022-10-31 SC129179 core:ShareCapital 2023-10-31 SC129179 core:ShareCapital 2022-10-31 SC129179 core:SharePremium 2023-10-31 SC129179 core:SharePremium 2022-10-31 SC129179 core:CapitalRedemptionReserve 2023-10-31 SC129179 core:CapitalRedemptionReserve 2022-10-31 SC129179 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC129179 core:RetainedEarningsAccumulatedLosses 2022-10-31 SC129179 core:LandBuildings 2022-10-31 SC129179 core:PlantMachinery 2022-10-31 SC129179 core:Vehicles 2022-10-31 SC129179 core:FurnitureFittings 2022-10-31 SC129179 core:LandBuildings 2023-10-31 SC129179 core:PlantMachinery 2023-10-31 SC129179 core:Vehicles 2023-10-31 SC129179 core:FurnitureFittings 2023-10-31 SC129179 2021-10-31 SC129179 bus:OrdinaryShareClass1 2023-10-31 SC129179 2022-11-01 2023-10-31 SC129179 bus:FilletedAccounts 2022-11-01 2023-10-31 SC129179 bus:SmallEntities 2022-11-01 2023-10-31 SC129179 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 SC129179 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC129179 bus:Director1 2022-11-01 2023-10-31 SC129179 bus:Director2 2022-11-01 2023-10-31 SC129179 bus:Director3 2022-11-01 2023-10-31 SC129179 bus:Director4 2022-11-01 2023-10-31 SC129179 bus:Director5 2022-11-01 2023-10-31 SC129179 bus:Director6 2022-11-01 2023-10-31 SC129179 bus:Director7 2022-11-01 2023-10-31 SC129179 core:PlantMachinery core:TopRangeValue 2022-11-01 2023-10-31 SC129179 core:Vehicles core:TopRangeValue 2022-11-01 2023-10-31 SC129179 core:FurnitureFittings core:BottomRangeValue 2022-11-01 2023-10-31 SC129179 core:FurnitureFittings core:TopRangeValue 2022-11-01 2023-10-31 SC129179 2021-11-01 2022-10-31 SC129179 core:LandBuildings 2022-11-01 2023-10-31 SC129179 core:PlantMachinery 2022-11-01 2023-10-31 SC129179 core:Vehicles 2022-11-01 2023-10-31 SC129179 core:FurnitureFittings 2022-11-01 2023-10-31 SC129179 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 SC129179 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC129179 (Scotland)

STRACATHRO ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH THE REGISTRAR

STRACATHRO ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2023

Contents

STRACATHRO ESTATES LIMITED

BALANCE SHEET

AS AT 31 OCTOBER 2023
STRACATHRO ESTATES LIMITED

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 12,332,919 10,051,262
12,332,919 10,051,262
Current assets
Stocks 1,109,938 1,073,693
Debtors 4 283,893 140,115
Cash at bank and in hand 511,680 1,770,499
1,905,511 2,984,307
Creditors: amounts falling due within one year 5 ( 1,463,516) ( 641,010)
Net current assets 441,995 2,343,297
Total assets less current liabilities 12,774,914 12,394,559
Creditors: amounts falling due after more than one year 6 ( 45,000) ( 45,000)
Provision for liabilities 7, 8 ( 737,443) ( 681,893)
Net assets 11,992,471 11,667,666
Capital and reserves
Called-up share capital 9 19,600 19,600
Share premium account 4,854,806 4,854,806
Capital redemption reserve 400 400
Profit and loss account 7,117,665 6,792,860
Total shareholders' funds 11,992,471 11,667,666

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Stracathro Estates Limited (registered number: SC129179) were approved and authorised for issue by the Board of Directors on 29 April 2024. They were signed on its behalf by:

Hugh Alexander Campbell Adamson
Director
STRACATHRO ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2023
STRACATHRO ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stracathro Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Brae Of Pert, Laurencekirk, Kincardineshire, AB30 1QR, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents the amounts received or receivable for goods and services in relation to farming sales including crop sales, rental income and income from renewable energy projects.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

The Basic Payment Scheme income is recognised once all conditions attached have been met.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 10 years straight line
Vehicles 4 years straight line
Fixtures and fittings 3 - 10 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases


The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

The company measures biological assets at cost less accumulated depreciation and accumulated impairment losses.

In respect of agricultural produce harvested from a biological asset, this is measured at the point of harvest at either;
- lower of cost and estimated selling price less costs to complete or sell; or
- fair value less costs to sell with any gain or loss arising on initial recognition of agricultural produce at fair value costs to sell being included in profit or loss

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets which include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 9

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 November 2022 7,110,410 4,796,572 171,766 44,951 12,123,699
Additions 2,218,229 477,501 47,895 1,850 2,745,475
Disposals 0 ( 142,500) 0 0 ( 142,500)
At 31 October 2023 9,328,639 5,131,573 219,661 46,801 14,726,674
Accumulated depreciation
At 01 November 2022 67,297 1,838,159 127,715 39,266 2,072,437
Charge for the financial year 0 383,878 23,288 1,798 408,964
Disposals 0 ( 87,646) 0 0 ( 87,646)
At 31 October 2023 67,297 2,134,391 151,003 41,064 2,393,755
Net book value
At 31 October 2023 9,261,342 2,997,182 68,658 5,737 12,332,919
At 31 October 2022 7,043,113 2,958,413 44,051 5,685 10,051,262

4. Debtors

2023 2022
£ £
Trade debtors 128,421 123,584
Other debtors 155,472 16,531
283,893 140,115

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 400,536 126,176
Taxation and social security 132,989 244,863
Other creditors 929,991 269,971
1,463,516 641,010

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 45,000 45,000

7. Provision for liabilities

2023 2022
£ £
Deferred tax 737,443 681,893

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 681,893) ( 652,036)
Charged to the Profit and Loss Account ( 55,550) ( 29,857)
At the end of financial year ( 737,443) ( 681,893)

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
19,600 Ordinary shares of £ 1.00 each 19,600 19,600

10. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts due to /(from) the directors (135,876) 5,202

During the year there were advances totalling £508,179 and repayments totalling £372,303. The balance is unsecured and interest is charged at a rate agreed upon by the directors. The balance was fully repaid by 01 December 2023.