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REGISTERED NUMBER: SC070248 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Bayhill Farming Limited

Bayhill Farming Limited (Registered number: SC070248)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Bayhill Farming Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R A G Murray
Mrs S M Hay
Miss J M Murray





SECRETARY: R A G Murray





REGISTERED OFFICE: 17 Commercial Road
Hawick
Roxburghshire
TD9 7AQ





REGISTERED NUMBER: SC070248 (Scotland)





ACCOUNTANTS: EQ Accountants (Trading name)
Douglas Home & Co Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Bayhill Farming Limited (Registered number: SC070248)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 3 1,894,194 1,901,730

CURRENT ASSETS
Inventories 4 6,230 5,150
Debtors 5 220,718 218,274
Cash at bank 486,250 426,329
713,198 649,753
CREDITORS
Amounts falling due within one year 6 145,536 144,371
NET CURRENT ASSETS 567,662 505,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,461,856

2,407,112

PROVISIONS FOR LIABILITIES 7,000 7,000
NET ASSETS 2,454,856 2,400,112

CAPITAL AND RESERVES
Called up share capital 180,000 180,000
Revaluation reserve 749,152 749,152
Retained earnings 1,525,704 1,470,960
SHAREHOLDERS' FUNDS 2,454,856 2,400,112

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Bayhill Farming Limited (Registered number: SC070248)

Statement of Financial Position - continued
31 December 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 25 July 2024 and were signed on its behalf by:





R A G Murray - Director


Bayhill Farming Limited (Registered number: SC070248)

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

1. 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.

Turnover
Revenue 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.
Land and buildings - Straight line over 50 years
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
Inventories 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 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Bayhill Farming Limited (Registered number: SC070248)

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

3. PROPERTY, PLANT AND EQUIPMENT
Agricultural Agricultural Heritable
Land Buildings Property
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 1,512,243 288,941 340,000
DEPRECIATION
At 1 January 2023 - 264,169 -
Charge for year - 2,477 -
At 31 December 2023 - 266,646 -
NET BOOK VALUE
At 31 December 2023 1,512,243 22,295 340,000
At 31 December 2022 1,512,243 24,772 340,000

Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 125,622 32,000 2,298,806
DEPRECIATION
At 1 January 2023 103,230 29,677 397,076
Charge for year 4,478 581 7,536
At 31 December 2023 107,708 30,258 404,612
NET BOOK VALUE
At 31 December 2023 17,914 1,742 1,894,194
At 31 December 2022 22,392 2,323 1,901,730

Cost or valuation at 31 December 2023 is represented by:

Agricultural Agricultural Heritable
Land Buildings Property
£    £    £   
Valuation in 2018 1,212,944 - 76,208
Cost 299,299 288,941 263,792
1,512,243 288,941 340,000

Bayhill Farming Limited (Registered number: SC070248)

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

3. PROPERTY, PLANT AND EQUIPMENT - continued

Plant and Motor
machinery vehicles Totals
£    £    £   
Valuation in 2018 - - 1,289,152
Cost 125,622 32,000 1,009,654
125,622 32,000 2,298,806

Items of heritable property were revalued in 2018. The directors have reviewed these in the current year and there is no impairment on the market values.

4. INVENTORIES
31.12.23 31.12.22
£    £   
Stocks 6,230 5,150

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 47 -
Other debtors 207,538 206,989
VAT 3,608 3,487
Prepayments 9,525 7,798
220,718 218,274

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors - (354 )
Tax 16,482 17,496
Other creditors 17,840 15,822
Directors' current accounts 18,396 18,709
Accrued expenses 3,265 3,145
Deferred income 89,553 89,553
145,536 144,371

7. RELATED PARTY DISCLOSURES

At 31 December 23, Bayhill Farming Limited were due £139,954 (2022; £139,954) from Melrose Court Properties Ltd and £67,584 (2021: £67,035) from Goodfellows Properties Ltd. They were also due £8,140 (2022; £6,122) to D&R Murray (Hawick) Ltd. Mr Murray is a director in all three companies.