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REGISTERED NUMBER: SC176536 (Scotland)











































Dalrymple Farming Company Limited

Unaudited Financial Statements

for the Year Ended 30th November 2023






Dalrymple Farming Company Limited (Registered number: SC176536)






Contents of the Financial Statements
for the year ended 30th November 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Dalrymple Farming Company Limited

Company Information
for the year ended 30th November 2023







Directors: Mrs A M H Dalrymple
R G H Dalrymple





Registered office: Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL





Business address: Broadwoodside
Gifford
East Lothian
EH41 4JQ





Registered number: SC176536 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Dalrymple Farming Company Limited (Registered number: SC176536)

Balance Sheet
30th November 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 713,919 690,838

Current assets
Stocks 62,868 110,049
Debtors 5 35,896 30,605
Cash at bank 120,420 73,161
219,184 213,815
Creditors
Amounts falling due within one year 6 546,897 491,991
Net current liabilities (327,713 ) (278,176 )
Total assets less current liabilities 386,206 412,662

Capital and reserves
Called up share capital 700,000 700,000
Retained earnings (313,794 ) (287,338 )
386,206 412,662

Dalrymple Farming Company Limited (Registered number: SC176536)

Balance Sheet - continued
30th November 2023


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

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

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 by the Board of Directors and authorised for issue on 15th August 2024 and were signed on its behalf by:





Mrs A M H Dalrymple - Director


Dalrymple Farming Company Limited (Registered number: SC176536)

Notes to the Financial Statements
for the year ended 30th November 2023

1. Statutory information

Dalrymple Farming Company 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.

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 represents the total invoice value, excluding value added tax, of sales made during the year.

Turnover arising from the sale of crops is recognised when the significant risks and rewards of ownership have passed to the buyer.

In respect of long term contracts and contracts for on-going services, turnover is recognised to the extent that the company obtains a right to consideration as contract activity progresses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - Nil
Plant and machinery - 10% on cost
Motor vehicles - 10% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Freehold property has not been depreciated. The Directors feel that the value in the accounts, which is shown at cost, accurately reflects the current value of the property.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals and directors' loans.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


Dalrymple Farming Company Limited (Registered number: SC176536)

Notes to the Financial Statements - continued
for the year ended 30th November 2023

2. Accounting policies - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Provisions
Provisions are set up only where is it probable that the present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

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

Dalrymple Farming Company Limited (Registered number: SC176536)

Notes to the Financial Statements - continued
for the year ended 30th November 2023

4. Tangible fixed assets
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Cost
At 1st December 2022 688,719 26,372 12,885 727,976
Additions - 26,027 - 26,027
Disposals - (10,900 ) - (10,900 )
At 30th November 2023 688,719 41,499 12,885 743,103
Depreciation
At 1st December 2022 - 24,253 12,885 37,138
Charge for year - 2,946 - 2,946
Eliminated on disposal - (10,900 ) - (10,900 )
At 30th November 2023 - 16,299 12,885 29,184
Net book value
At 30th November 2023 688,719 25,200 - 713,919
At 30th November 2022 688,719 2,119 - 690,838

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 20,769 24,937
Other debtors 15,127 5,668
35,896 30,605

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 24,265 43,335
Other creditors 522,632 448,656
546,897 491,991