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REGISTERED NUMBER: SC653443 (Scotland)












Financial Statements

for the Year Ended 31 October 2023

for

Carnbroe Estates Farms Limited

Carnbroe Estates Farms Limited (Registered number: SC653443)






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


Carnbroe Estates Farms Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: J G Gaffney





REGISTERED OFFICE: 1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC653443 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Carnbroe Estates Farms Limited (Registered number: SC653443)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,026,296 750,099

CURRENT ASSETS
Stocks 393,122 131,936
Debtors 5 84,549 19,459
Cash at bank 143,736 1,658
621,407 153,053
CREDITORS
Amounts falling due within one year 6 896,895 596,655
NET CURRENT LIABILITIES (275,488 ) (443,602 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

750,808

306,497

CREDITORS
Amounts falling due after more than one year 7 (94,975 ) (168,756 )

PROVISIONS FOR LIABILITIES (90,909 ) -
NET ASSETS 564,924 137,741

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 564,824 137,641
SHAREHOLDERS' FUNDS 564,924 137,741

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 director acknowledges his 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.

Carnbroe Estates Farms Limited (Registered number: SC653443)

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 director and authorised for issue on 30 July 2024 and were signed by:





J G Gaffney - Director


Carnbroe Estates Farms Limited (Registered number: SC653443)

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

1. STATUTORY INFORMATION

Carnbroe Estates Farms Limited 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Inventories
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Carnbroe Estates Farms Limited (Registered number: SC653443)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

Carnbroe Estates Farms Limited (Registered number: SC653443)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022 90,139 736,351 15,682
Additions - 612,210 -
Disposals - (306,061 ) -
At 31 October 2023 90,139 1,042,500 15,682
DEPRECIATION
At 1 November 2022 1,803 157,273 3,092
Charge for year 1,803 108,905 1,889
Eliminated on disposal - (79,866 ) -
At 31 October 2023 3,606 186,312 4,981
NET BOOK VALUE
At 31 October 2023 86,533 856,188 10,701
At 31 October 2022 88,336 579,078 12,590

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 86,241 944 929,357
Additions 35,800 473 648,483
Disposals (30,585 ) - (336,646 )
At 31 October 2023 91,456 1,417 1,241,194
DEPRECIATION
At 1 November 2022 16,775 315 179,258
Charge for year 13,094 328 126,019
Eliminated on disposal (10,513 ) - (90,379 )
At 31 October 2023 19,356 643 214,898
NET BOOK VALUE
At 31 October 2023 72,100 774 1,026,296
At 31 October 2022 69,466 629 750,099

Carnbroe Estates Farms Limited (Registered number: SC653443)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,037 4,800
Other debtors 63,512 14,659
84,549 19,459

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts 283,532 148,058
Trade creditors 351,798 95,004
Taxation and social security - 1,669
Other creditors 250,917 341,276
896,895 596,655

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,331 27,131
Hire purchase contracts 77,644 141,625
94,975 168,756

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100