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REGISTERED NUMBER: SC387241 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Countryside Steadings Ltd

Countryside Steadings Ltd (Registered number: SC387241)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Countryside Steadings Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: J Campbell
A Campbell
M Campbell





REGISTERED OFFICE: Craigash Steading
Strathblane Road
Milngavie
G62 8LF





REGISTERED NUMBER: SC387241 (Scotland)





ACCOUNTANTS: Dunellan Accountancy Limited
24 Chapel Street
Airdrie
ML6 6LG

Countryside Steadings Ltd (Registered number: SC387241)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 122,088 54,486

CURRENT ASSETS
Stocks 5 2,397,000 1,154,646
Debtors 6 588,762 490,340
Cash at bank 14,264 1,359
3,000,026 1,646,345
CREDITORS
Amounts falling due within one year 7 2,615,341 1,257,413
NET CURRENT ASSETS 384,685 388,932
TOTAL ASSETS LESS CURRENT
LIABILITIES

506,773

443,418

CREDITORS
Amounts falling due after more than one
year

8

(86,019

)

(52,183

)

PROVISIONS FOR LIABILITIES (24,119 ) (5,175 )
NET ASSETS 396,635 386,060

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 395,635 385,060
SHAREHOLDERS' FUNDS 396,635 386,060

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.

Countryside Steadings Ltd (Registered number: SC387241)

Balance Sheet - continued
31 October 2023


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 30 July 2024 and were signed on its behalf by:





J Campbell - Director


Countryside Steadings Ltd (Registered number: SC387241)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

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.

Countryside Steadings Ltd (Registered number: SC387241)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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 a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 100,500 63,414 163,914
Additions 107,500 - 107,500
Disposals (65,500 ) - (65,500 )
At 31 October 2023 142,500 63,414 205,914
DEPRECIATION
At 1 November 2022 69,918 39,510 109,428
Charge for year 25,762 5,976 31,738
Eliminated on disposal (57,340 ) - (57,340 )
At 31 October 2023 38,340 45,486 83,826
NET BOOK VALUE
At 31 October 2023 104,160 17,928 122,088
At 31 October 2022 30,582 23,904 54,486

Countryside Steadings Ltd (Registered number: SC387241)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 35,000 63,414 98,414
Additions 107,500 - 107,500
At 31 October 2023 142,500 63,414 205,914
DEPRECIATION
At 1 November 2022 7,824 39,510 47,334
Charge for year 20,157 5,976 26,133
At 31 October 2023 27,981 45,486 73,467
NET BOOK VALUE
At 31 October 2023 114,519 17,928 132,447
At 31 October 2022 27,176 23,904 51,080

5. STOCKS
31.10.23 31.10.22
£    £   
Work-in-progress 2,397,000 1,154,646

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Amounts owed by participating interests 277,217 28,669
Other debtors 12,119 12,119
Directors' current accounts - 26,321
VAT 299,426 423,231
588,762 490,340

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 1,670,438 833,437
Hire purchase contracts 33,479 18,454
Trade creditors 163,603 122,041
Tax 86,915 53,911
Social security and other taxes 279,097 219,570
Other creditors 5,000 -
Directors' current accounts 366,809 -
2,615,341 1,257,413

Countryside Steadings Ltd (Registered number: SC387241)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,830 15,830
Hire purchase contracts 70,189 26,353
86,019 52,183

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Other loans 1,670,438 833,437
Hire purchase contracts 103,668 44,807
1,774,106 878,244

A registration of charge is held for other loans and all amounts are secured by the plots of land and works undertaken to which the loan relates to.

Amounts due under hire purchase are secured by the assets to which the hire purchase relates to.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the period end there was a loan between the company and its director. At 31st October 2023 the director was owed £366,809 (2022 £(26,321)). The loan is interest free and has no fixed terms of repayment.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £166,693 were paid to the directors .

At the period end a loan existed between the company and Campbell Building Projects Limited, a company where Mr J Campbell is also a director and shareholder. At 31st October 2023 the company was owed £255,086 (2022 £6,538) to Campbell Building Projects Limited.

During the period Campbell Building Projects Limited invoiced Rossie Steadings Limited £716,704 (2022 £36,234) for materials, labour, insurance and general recharges.

Countryside Steading Conversions Limited is a company registered in Scotland in which Mr J Campbell is a director and shareholder of. At the balance sheet date Rossie Steading Limited were owed £22,131 (2022 £22,131).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Campbell.