Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falsetrueNo description of principal activity22falsefalse SC126621 2023-01-01 2023-12-31 SC126621 2022-01-01 2022-12-31 SC126621 2023-12-31 SC126621 2022-12-31 SC126621 c:Director1 2023-01-01 2023-12-31 SC126621 d:Buildings 2023-01-01 2023-12-31 SC126621 d:Buildings 2023-12-31 SC126621 d:Buildings 2022-12-31 SC126621 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC126621 d:PlantMachinery 2023-01-01 2023-12-31 SC126621 d:PlantMachinery 2023-12-31 SC126621 d:PlantMachinery 2022-12-31 SC126621 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC126621 d:MotorVehicles 2023-01-01 2023-12-31 SC126621 d:MotorVehicles 2023-12-31 SC126621 d:MotorVehicles 2022-12-31 SC126621 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC126621 d:FurnitureFittings 2023-01-01 2023-12-31 SC126621 d:FurnitureFittings 2023-12-31 SC126621 d:FurnitureFittings 2022-12-31 SC126621 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC126621 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC126621 d:CurrentFinancialInstruments 2023-12-31 SC126621 d:CurrentFinancialInstruments 2022-12-31 SC126621 d:Non-currentFinancialInstruments 2023-12-31 SC126621 d:Non-currentFinancialInstruments 2022-12-31 SC126621 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC126621 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC126621 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC126621 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 SC126621 d:ShareCapital 2023-12-31 SC126621 d:ShareCapital 2022-12-31 SC126621 d:RevaluationReserve 2023-12-31 SC126621 d:RevaluationReserve 2022-12-31 SC126621 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC126621 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC126621 d:OtherDeferredTax 2023-12-31 SC126621 d:OtherDeferredTax 2022-12-31 SC126621 c:FRS102 2023-01-01 2023-12-31 SC126621 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC126621 c:FullAccounts 2023-01-01 2023-12-31 SC126621 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC126621 2 2023-01-01 2023-12-31 SC126621 5 2023-01-01 2023-12-31 SC126621 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: SC126621










DELNABO ESTATE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DELNABO ESTATE LIMITED
REGISTERED NUMBER: SC126621

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,164,623
3,597,228

  
9,164,623
3,597,228

Current assets
  

Stocks
 5 
37,991
42,113

Debtors: amounts falling due within one year
 6 
122,420
217,734

Cash at bank and in hand
  
147,283
110,697

  
307,694
370,544

Creditors: amounts falling due within one year
 7 
(2,189,193)
(969,727)

Net current liabilities
  
 
 
(1,881,499)
 
 
(599,183)

Total assets less current liabilities
  
7,283,124
2,998,045

Creditors: amounts falling due after more than one year
 8 
(1,122,500)
(1,522,500)

Provisions for liabilities
  

Deferred tax
 9 
(1,290,000)
-

  
 
 
(1,290,000)
 
 
-

Net assets
  
4,870,624
1,475,545


Capital and reserves
  

Called up share capital 
  
2,500,000
2,500,000

Revaluation reserve
  
4,095,437
-

Profit and loss account
  
(1,724,813)
(1,024,455)

  
4,870,624
1,475,545


Page 1

 
DELNABO ESTATE LIMITED
REGISTERED NUMBER: SC126621

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.                           
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Jones-Perrott
Director

Date:14 June 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DELNABO ESTATE LIMITED
 

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

1.


General information

Delnabo Estate Limited is a private company limited by shares incorporated in Scotland. 
The registered office is Gamekeepers Cottage, Delnabo Estate, Tomintoul, Ballindalloch, AB37 9HT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 3

 
DELNABO ESTATE LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
DELNABO ESTATE LIMITED
 

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

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either straight line basis or reducing balance.

Depreciation is provided on the following basis:

Freehold property
-
0-2% straight line
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
10-15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Revaluation of tangible fixed assets

Freehold property is stated at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent impairment losses. Revaluations are made with sufficient regularity to ensure the carrying value does not differ materially from that which would be determined using fair value at the balance sheet date.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
Revaluation gains are shown within the revaluation reserve.

  
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a normal farming practice basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

Page 5

 
DELNABO ESTATE LIMITED
 

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

2.Accounting policies (continued)

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
DELNABO ESTATE LIMITED
 

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

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
3,283,538
228,540
28,525
289,497
3,830,100


Additions
504,318
1,390
36,356
62,698
604,762


Disposals
(256,847)
(51,678)
(14,000)
(67,255)
(389,780)


Other adjustments
(61,138)
-
-
-
(61,138)


Revaluations
5,324,829
-
-
-
5,324,829



At 31 December 2023

8,794,700
178,252
50,881
284,940
9,308,773



Depreciation


At 1 January 2023
30,680
99,336
18,479
84,377
232,872


Charge for the year
28,040
32,629
4,721
27,068
92,458


Disposals
(2,812)
(50,965)
(5,797)
(65,698)
(125,272)


On revalued assets
(55,908)
-
-
-
(55,908)



At 31 December 2023

-
81,000
17,403
45,747
144,150



Net book value



At 31 December 2023
8,794,700
97,252
33,478
239,193
9,164,623



At 31 December 2022
3,252,858
129,204
10,046
205,120
3,597,228

Freehold property was revalued at 31 December 2023 at fair value by Galbraith Chartered Surveyors.
The historic cost of freehold property is £3,469,871 (2022: £3,283,538).

Page 7

 
DELNABO ESTATE LIMITED
 

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

5.


Stocks

2023
2022
£
£

Biological assets
36,100
38,200

Other stocks
1,891
3,913

37,991
42,113



6.


Debtors

2023
2022
£
£


Trade debtors
7,674
3,380

Other debtors
9,325
9,095

Prepayments and accrued income
101,778
122,427

Tax recoverable
3,643
82,832

122,420
217,734



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
40,047
71,720

Amounts owed to parent company
2,043,657
858,347

Obligations under finance lease and hire purchase contracts
27,411
-

Other creditors
30,254
30,000

Accruals and deferred income
47,824
9,660

2,189,193
969,727


Page 8

 
DELNABO ESTATE LIMITED
 

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

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,122,500
1,522,500



9.


Deferred taxation




2023


£






Charged to other comprehensive income
(1,290,000)



At end of year
(1,290,000)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Capital gains
(1,290,000)
-


10.


Controlling party

The parent company at the balance sheet date was The Hartley Trust, a registered charity in England


Page 9