3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-29 Sage Accounts Production Advanced 2023 - FRS102_2023 505,061 48,524 47,270 2,397 29,982 478,730 478,730 505,061 xbrli:pure xbrli:shares iso4217:GBP SC012574 2022-11-29 2023-11-28 SC012574 2023-11-28 SC012574 2022-11-28 SC012574 2021-11-29 2022-11-28 SC012574 2022-11-28 SC012574 2021-11-28 SC012574 bus:Director1 2022-11-29 2023-11-28 SC012574 bus:Director2 2022-11-29 2023-11-28 SC012574 core:LandBuildings 2022-11-28 SC012574 core:PlantMachinery 2022-11-28 SC012574 core:MotorVehicles 2022-11-28 SC012574 core:LandBuildings 2023-11-28 SC012574 core:PlantMachinery 2023-11-28 SC012574 core:MotorVehicles 2023-11-28 SC012574 core:LandBuildings 2022-11-29 2023-11-28 SC012574 core:PlantMachinery 2022-11-29 2023-11-28 SC012574 core:MotorVehicles 2022-11-29 2023-11-28 SC012574 core:WithinOneYear 2023-11-28 SC012574 core:WithinOneYear 2022-11-28 SC012574 core:ShareCapital 2023-11-28 SC012574 core:ShareCapital 2022-11-28 SC012574 core:RevaluationReserve 2023-11-28 SC012574 core:RevaluationReserve 2022-11-28 SC012574 core:RetainedEarningsAccumulatedLosses 2023-11-28 SC012574 core:RetainedEarningsAccumulatedLosses 2022-11-28 SC012574 core:CostValuation core:Non-currentFinancialInstruments 2022-11-28 SC012574 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-11-28 SC012574 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-11-28 SC012574 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-11-28 SC012574 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2023-11-28 SC012574 core:CostValuation core:Non-currentFinancialInstruments 2023-11-28 SC012574 core:Non-currentFinancialInstruments 2023-11-28 SC012574 core:Non-currentFinancialInstruments 2022-11-28 SC012574 core:LandBuildings 2022-11-28 SC012574 core:PlantMachinery 2022-11-28 SC012574 core:MotorVehicles 2022-11-28 SC012574 bus:SmallEntities 2022-11-29 2023-11-28 SC012574 bus:AuditExemptWithAccountantsReport 2022-11-29 2023-11-28 SC012574 bus:SmallCompaniesRegimeForAccounts 2022-11-29 2023-11-28 SC012574 bus:PrivateLimitedCompanyLtd 2022-11-29 2023-11-28 SC012574 bus:FullAccounts 2022-11-29 2023-11-28 SC012574 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-29 2023-11-28 SC012574 core:BearerBiologicalAssetClass1 2022-11-29 2023-11-28 SC012574 core:BearerBiologicalAssetClass2 2022-11-29 2023-11-28 SC012574 core:BearerBiologicalAssetClass1 2022-11-28 SC012574 core:BearerBiologicalAssetClass2 2022-11-28 SC012574 core:BearerBiologicalAssetClass1 2023-11-28 SC012574 core:BearerBiologicalAssetClass2 2023-11-28
COMPANY REGISTRATION NUMBER: SC012574
Dawyck Estates Limited
Filleted Unaudited Financial Statements
For the year ended
28 November 2023
Dawyck Estates Limited
Statement of Financial Position
28 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
1,254,269
1,281,757
Investments
6
478,730
505,061
Biological assets
7
120,913
112,743
------------
------------
1,853,912
1,899,561
Current assets
Stocks
13,800
13,800
Debtors
8
56,883
56,231
Cash at bank and in hand
413,997
352,442
---------
---------
484,680
422,473
Creditors: amounts falling due within one year
9
154,303
120,556
---------
---------
Net current assets
330,377
301,917
------------
------------
Total assets less current liabilities
2,184,289
2,201,478
------------
------------
Net assets
2,184,289
2,201,478
------------
------------
Capital and reserves
Called up share capital
32,000
32,000
Revaluation reserve
697,712
697,712
Profit and loss account
1,454,577
1,471,766
------------
------------
Shareholders funds
2,184,289
2,201,478
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dawyck Estates Limited
Statement of Financial Position (continued)
28 November 2023
These financial statements were approved by the board of directors and authorised for issue on 15 July 2024 , and are signed on behalf of the board by:
R R Balfour
Mrs C R Balfour
Director
Director
Company registration number: SC012574
Dawyck Estates Limited
Notes to the Financial Statements
Year ended 28 November 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Wester Dawyck, Stobo, Peeblesshire, EH45 9JU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the financial currency of the entity. Going Concern The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing these financial statements.
Revenue recognition
The turnover which excludes value added tax, represents the earned value of goods and services supplied during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
The heritable property was previously valued at March 1989 values. On transition to FRS102 the directors have adopted this as the deemed cost. The cost of other fixed assets is their purchased price, together with any incidental expenses of acquisition. Provision for depreciation on motor vehicles and plant and equipment is made so as to write off their cost on a reducing balance basis over the expected useful lives of the assets concerned.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land & buildings
-
Properties nil, property improvements 4% to 10% reducing balance
Plant & machinery
-
25% reducing balance
Motor vehicles & tractors
-
25% reducing balance
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Unlisted investments are measured at cost less any impairment in value.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Biological assets
Biological assets measured under the cost model are held at cost less any accumulated depreciation and any accumulated impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors,and cash at bank, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade and other creditors and taxes due are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 29 November 2022
1,448,041
192,316
163,345
1,803,702
Additions
2,008
23,900
25,908
------------
---------
---------
------------
At 28 November 2023
1,450,049
192,316
187,245
1,829,610
------------
---------
---------
------------
Depreciation
At 29 November 2022
247,019
157,363
117,563
521,945
Charge for the year
35,984
5,965
11,447
53,396
------------
---------
---------
------------
At 28 November 2023
283,003
163,328
129,010
575,341
------------
---------
---------
------------
Carrying amount
At 28 November 2023
1,167,046
28,988
58,235
1,254,269
------------
---------
---------
------------
At 28 November 2022
1,201,022
34,953
45,782
1,281,757
------------
---------
---------
------------
6. Investments
Other investments other than loans
£
Cost
At 29 November 2022
505,061
Additions
48,524
Disposals
( 47,270)
Revaluations
2,397
Other movements
( 29,982)
---------
At 28 November 2023
478,730
---------
Impairment
At 29 November 2022 and 28 November 2023
---------
Carrying amount
At 28 November 2023
478,730
---------
At 28 November 2022
505,061
---------
7. Biological assets
Biological assets held at cost
Cattle
Sheep
Total
£
£
£
Cost
At 29 November 2022
44,173
68,570
112,743
Purchases
16,450
18,850
35,300
Sales
( 23,310)
( 53,030)
( 76,340)
Harvest
13,660
42,080
55,740
Other changes
(600)
(5,930)
(6,530)
--------
--------
---------
At 28 November 2023
50,373
70,540
120,913
--------
--------
---------
Depreciation
At 29 November 2022 and 28 November 2023
--------
--------
---------
Carrying amount
At 28 November 2023
50,373
70,540
120,913
--------
--------
---------
At 28 November 2022
44,173
68,570
112,743
--------
--------
---------
8. Debtors
2023
2022
£
£
Trade debtors
10,264
5,000
Other debtors
46,619
51,231
--------
--------
56,883
56,231
--------
--------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
64,976
42,517
Social security and other taxes
1,165
1,327
Other creditors
88,162
76,712
---------
---------
154,303
120,556
---------
---------