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REGISTERED NUMBER: 04191522 (England and Wales)















SCORROR FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






SCORROR FARMS LIMITED (REGISTERED NUMBER: 04191522)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


SCORROR FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: W J Scorror
Mrs H E Scorror



SECRETARY: Mrs H E Scorror



REGISTERED OFFICE: 23a Back Lane
Colsterworth
Grantham
Lincolnshire
NG33 5HU



REGISTERED NUMBER: 04191522 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: HSBC Bank Plc
88 Westgate
Grantham
Lincolnshire
NG31 6LF

SCORROR FARMS LIMITED (REGISTERED NUMBER: 04191522)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 537,325 560,467
537,325 560,467

CURRENT ASSETS
Valuation 734,565 951,547
Debtors 6 417,942 426,330
Cash at bank 25,306 228,241
1,177,813 1,606,118
CREDITORS
Amounts falling due within one year 7 162,765 519,983
NET CURRENT ASSETS 1,015,048 1,086,135
TOTAL ASSETS LESS CURRENT LIABILITIES 1,552,373 1,646,602

CREDITORS
Amounts falling due after more than one year 8 - (65,780 )

PROVISIONS FOR LIABILITIES (153,913 ) (123,229 )
NET ASSETS 1,398,460 1,457,593

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,398,360 1,457,493
SHAREHOLDERS' FUNDS 1,398,460 1,457,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

SCORROR FARMS LIMITED (REGISTERED NUMBER: 04191522)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





W J Scorror - Director


SCORROR FARMS LIMITED (REGISTERED NUMBER: 04191522)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Scorror Farms Limited is a private company, limited by shares , registered in England and Wales. 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at market value and written off over the period to 31 December 2019, when the scheme ends.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 20% on reducing balance
Plant and machinery etc - 15% on reducing balance and 10% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Valuation
The valuation has been valued on a cost of production basis and is stated at the lower of cost and net realisable value.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


SCORROR FARMS LIMITED (REGISTERED NUMBER: 04191522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the income statement account over the relevant period. The capital element of the future payments is treated as a liability.


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.

Basic farm payment
The Basic Farm Payment is recognised in the financial statements in accordance with current H M Revenue & Customs guidance.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022
and 30 November 2023 123,747
AMORTISATION
At 1 December 2022
and 30 November 2023 123,747
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

SCORROR FARMS LIMITED (REGISTERED NUMBER: 04191522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 1,874 1,359,418 1,361,292
Additions - 71,750 71,750
Disposals - (82,153 ) (82,153 )
At 30 November 2023 1,874 1,349,015 1,350,889
DEPRECIATION
At 1 December 2022 1,859 798,966 800,825
Charge for year 3 87,697 87,700
Eliminated on disposal - (74,961 ) (74,961 )
At 30 November 2023 1,862 811,702 813,564
NET BOOK VALUE
At 30 November 2023 12 537,313 537,325
At 30 November 2022 15 560,452 560,467

The net book value of tangible fixed assets includes £ 149,301 (2022 - £ 175,648 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 180,162 223,000
Other debtors 237,780 203,330
417,942 426,330

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts - 9,870
Hire purchase contracts (see note 9) 40,000 40,000
Trade creditors 58,666 248,193
Taxation and social security 14,124 78,395
Other creditors 49,975 143,525
162,765 519,983

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans - 25,780
Hire purchase contracts (see note 9) - 40,000
- 65,780

SCORROR FARMS LIMITED (REGISTERED NUMBER: 04191522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.11.23 30.11.22
£    £   
Net obligations repayable:
Within one year 40,000 40,000
Between one and five years - 40,000
40,000 80,000

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans - 35,650
Hire purchase contracts 40,000 80,000
40,000 115,650

The hire purchase contracts are secured on the assets to which they relate.

The bounce back loan is secured by the UK Government.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES

The directors have provided a loan totalling £33,089 (2022: £126,694).