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REGISTERED NUMBER: 01611951 (England and Wales)















SCOTT AND SCOTT (AYSTON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






SCOTT AND SCOTT (AYSTON) LIMITED (REGISTERED NUMBER: 01611951)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


SCOTT AND SCOTT (AYSTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: C R Scott
Mrs S Scott





SECRETARY: Mrs S Scott





REGISTERED OFFICE: Home Farm
Preston Lane
Ayston
Uppingham
Rutland
LE15 9BL





REGISTERED NUMBER: 01611951 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT

SCOTT AND SCOTT (AYSTON) LIMITED (REGISTERED NUMBER: 01611951)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 2,829,386 2,604,706
2,829,386 2,604,706

CURRENT ASSETS
Inventories 500,969 576,615
Debtors 6 114,008 29,906
Investments 7 1,272 1,272
Cash at bank and in hand 531,569 580,441
1,147,818 1,188,234
CREDITORS
Amounts falling due within one year 8 517,230 346,255
NET CURRENT ASSETS 630,588 841,979
TOTAL ASSETS LESS CURRENT LIABILITIES 3,459,974 3,446,685

PROVISIONS FOR LIABILITIES 58,837 94,433
NET ASSETS 3,401,137 3,352,252

CAPITAL AND RESERVES
Called up share capital 9 297,650 297,650
Capital redemption reserve 59,530 59,530
Retained earnings 3,043,957 2,995,072
SHAREHOLDERS' FUNDS 3,401,137 3,352,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by:



Mrs S Scott - Director


SCOTT AND SCOTT (AYSTON) LIMITED (REGISTERED NUMBER: 01611951)

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

1. STATUTORY INFORMATION

Scott and Scott (Ayston) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost and not provided
Plant and machinery etc - 33.3% on cost, 25% on reducing balance, 20% on reducing balance and 5% on cost

Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories
The farm valuation has been prepared by independent professional valuers at the lower of cost and fair value less costs to complete and sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SCOTT AND SCOTT (AYSTON) LIMITED (REGISTERED NUMBER: 01611951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Current asset investments
Listed investments are stated at their market value at the statement of financial position date. Unrealised gains arising from the increase in the value of the investments are charged to profit or loss in the period to which they relate.

Basic payment
The Basic Payment is recognised in the financial statements in accordance with current H.M. Revenue & Customs guidance.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2022
and 31 October 2023 73,279
AMORTISATION
At 1 November 2022
and 31 October 2023 73,279
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 2,555,232 1,030,932 3,586,164
Additions 67,041 266,223 333,264
At 31 October 2023 2,622,273 1,297,155 3,919,428
DEPRECIATION
At 1 November 2022 211,119 770,339 981,458
Charge for year 8,855 99,729 108,584
At 31 October 2023 219,974 870,068 1,090,042
NET BOOK VALUE
At 31 October 2023 2,402,299 427,087 2,829,386
At 31 October 2022 2,344,113 260,593 2,604,706

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,568 9,769
Other debtors 13,240 8,279
Prepayments 87,200 11,858
114,008 29,906

SCOTT AND SCOTT (AYSTON) LIMITED (REGISTERED NUMBER: 01611951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Investments 1,272 1,272

Current asset investments are revalued at market value at the year end.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 74,062 21,932
Corporation tax - 109,273
Social security and other taxes 843 1,030
Other creditors 13,529 6,143
Directors' current accounts 272,533 8,960
Accruals and deferred income 156,263 198,917
517,230 346,255

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
148,825 'A' Ordinary £1 148,825 148,825
148,825 'B' Ordinary £1 148,825 148,825
297,650 297,650

The 'B' Ordinary shares do not entitle the holders to participate in profits. The shares rank equally in all other respects.