REGISTERED NUMBER: |
Dalrymple Farming Company Limited |
Unaudited Financial Statements |
for the Year Ended 30th November 2023 |
REGISTERED NUMBER: |
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: |
Registered office: |
Business address: |
Registered number: |
Accountants: |
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 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
Dalrymple Farming Company Limited (Registered number: SC176536) |
Balance Sheet - continued |
30th November 2023 |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
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 |
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 |
Additions |
Disposals | ( |
) | ( |
) |
At 30th November 2023 |
Depreciation |
At 1st December 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30th November 2023 |
Net book value |
At 30th November 2023 |
At 30th November 2022 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |