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REGISTERED NUMBER: SC153641 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Auchenforest Limited

Auchenforest Limited (Registered number: SC153641)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Auchenforest Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Ms K Patiala





SECRETARY: Turcan Connell Company Secretaries Limited





REGISTERED OFFICE: Princes Exchange
1 Earl Grey Street
Edinburgh
EH3 9EE





REGISTERED NUMBER: SC153641 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Auchenforest Limited (Registered number: SC153641)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,155,000 5,155,000

CURRENT ASSETS
Debtors 5 92,158 120,129
Cash at bank 151,852 181,110
244,010 301,239
CREDITORS
Amounts falling due within one year 6 3,513 3,319
NET CURRENT ASSETS 240,497 297,920
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,395,497

5,452,920

PROVISIONS FOR LIABILITIES 7 993,701 993,701
NET ASSETS 4,401,796 4,459,219

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 2,981,103 2,981,103
Retained earnings 1,420,593 1,478,016
SHAREHOLDERS' FUNDS 4,401,796 4,459,219

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 director acknowledges her 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.

Auchenforest Limited (Registered number: SC153641)

Balance Sheet - 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 director and authorised for issue on 15 August 2024 and were signed by:





Ms K Patiala - Director


Auchenforest Limited (Registered number: SC153641)

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

1. STATUTORY INFORMATION

Auchenforest 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at fair value of the consideration received or receivable and represents the amount receivable for goods supplied to customers in the normal course of business, excluding value added tax. The policy is to recognise a sale when the company obtains the right to consideration.

Tangible fixed assets
Land and buildings have been measured using the revaluation model, with the asset carried at the revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and impairment losses. Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from the fair value at the reporting date. Any gains or losses will be recognised in other comprehensive income and accumulated in the revaluation reserve.

At the balance sheet date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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.

Forestry profits are not subject to corporation tax.

Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Auchenforest Limited (Registered number: SC153641)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Grants
Grants in relation to financial support are realised to the profit and loss account over the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 5,155,000
NET BOOK VALUE
At 31 December 2023 5,155,000
At 31 December 2022 5,155,000

Cost or valuation at 31 December 2023 is represented by:

Land and
buildings
£   
Valuation in 2022 4,535,475
Cost 619,525
5,155,000

There have been no indicators of impairment in the period under review.

Freehold land and buildings were subject to independent, professional valuation at 14 October 2022. The valuation was undertaken by GOLDCREST Land & Forestry Group LLP, an independent, professional valuer that has recent experience in the location and class of property being revalued.

At the balance sheet date, the directors feel this valuation remains appropriate with no material changes in the market value which require to be disclosed in the accounts.

Auchenforest Limited (Registered number: SC153641)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 91,116 118,616
Other debtors 1,042 1,513
92,158 120,129

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 522 522
Taxation and social security 869 554
Other creditors 2,122 2,243
3,513 3,319

7. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 993,701 993,701

Deferred
tax
£   
Balance at 1 January 2023 993,701
Balance at 31 December 2023 993,701

8. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 2,981,103