Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-311false2023-01-01No description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC352060 2023-01-01 2023-12-31 SC352060 2022-01-01 2022-12-31 SC352060 2023-12-31 SC352060 2022-12-31 SC352060 c:Director1 2023-01-01 2023-12-31 SC352060 c:RegisteredOffice 2023-01-01 2023-12-31 SC352060 d:PlantMachinery 2023-01-01 2023-12-31 SC352060 d:PlantMachinery 2023-12-31 SC352060 d:PlantMachinery 2022-12-31 SC352060 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC352060 d:MotorVehicles 2023-01-01 2023-12-31 SC352060 d:MotorVehicles 2023-12-31 SC352060 d:MotorVehicles 2022-12-31 SC352060 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC352060 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC352060 d:CurrentFinancialInstruments 2023-12-31 SC352060 d:CurrentFinancialInstruments 2022-12-31 SC352060 d:Non-currentFinancialInstruments 2023-12-31 SC352060 d:Non-currentFinancialInstruments 2022-12-31 SC352060 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC352060 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC352060 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC352060 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 SC352060 d:ShareCapital 2023-12-31 SC352060 d:ShareCapital 2022-12-31 SC352060 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC352060 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC352060 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC352060 c:OrdinaryShareClass1 2023-12-31 SC352060 c:OrdinaryShareClass1 2022-12-31 SC352060 c:FRS102 2023-01-01 2023-12-31 SC352060 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC352060 c:FullAccounts 2023-01-01 2023-12-31 SC352060 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC352060 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC352060










STRATHMORE POTATO GROWERS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
STRATHMORE POTATO GROWERS LIMITED
 

COMPANY INFORMATION


DIRECTOR
Mr Donald Bone 




REGISTERED NUMBER
SC352060



REGISTERED OFFICE
Mains of Arthurstone
Meigle

Perthshire

PH11 8QY




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
STRATHMORE POTATO GROWERS LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STRATHMORE POTATO GROWERS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Strathmore Potato Growers Limited for the year ended 31 December 2023 which comprise  the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Strathmore Potato Growers Limited in accordance with the terms of our engagement letter dated 29th May 2018Our work has been undertaken solely to prepare for your approval the financial statements of Strathmore Potato Growers Limited and state those matters that we have agreed to state to the director of Strathmore Potato Growers Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Strathmore Potato Growers Limited and its director for our work or for this report. 

It is your duty to ensure that Strathmore Potato Growers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Strathmore Potato Growers Limited. You consider that Strathmore Potato Growers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Strathmore Potato Growers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



EQ Accountants Limited
 
Chartered Accountants
  
Westby
64 West High Street
Forfar
Angus
DD8 1BJ
16 August 2024
Page 1

 
STRATHMORE POTATO GROWERS LIMITED
REGISTERED NUMBER: SC352060

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
909
20,269

Investments
 5 
50
50

  
959
20,319

CURRENT ASSETS
  

Stocks
  
57,674
18,480

Debtors: amounts falling due within one year
 6 
23,539
2,145

Bank & cash balances
  
3,955
116

  
85,168
20,741

Creditors: amounts falling due within one year
 7 
(154,354)
(161,086)

NET CURRENT LIABILITIES
  
 
 
(69,186)
 
 
(140,345)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
(68,227)
(120,026)

Creditors: amounts falling due after more than one year
 8 
(29,884)
(34,150)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
-
(5,069)

  
 
 
-
 
 
(5,069)

NET LIABILITIES
  
(98,111)
(159,245)


CAPITAL AND RESERVES
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(98,211)
(159,345)

  
(98,111)
(159,245)


The director considers 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 director acknowledges his 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 income and retained earnings 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 on 16 August 2024.
Page 2

 
STRATHMORE POTATO GROWERS LIMITED
REGISTERED NUMBER: SC352060

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023





Mr Donald Bone
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
STRATHMORE POTATO GROWERS LIMITED
 

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

1.


GENERAL INFORMATION

Strathmore Potato Growers Limited is a private company, limited by shares, incorporated in Scotland with
registration number SC352060. The registered office is Mains Of Arthurstone, Meigle, Perthshire, PH12 8QY.

The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £. 

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

GOING CONCERN

The company is relient on the continued support of the director and the owner and at this point there is no reason to doubt that support will continue.
The company has prepared projections that demonstrate that the company can continue continue to operate and have sufficient resources to meet liabilities as they fall due for a period of at least 12 months from the date of appoval of these financial statements.
Consequently, the directors consider it is appropriate to prepare the financial statements on a going concern basis.

Page 4

 
STRATHMORE POTATO GROWERS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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

Turnover 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 turnover 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.

Page 5

 
STRATHMORE POTATO GROWERS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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 reporting 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 reporting 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 reporting date.

 
2.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
12.5%
reducing balance
Motor vehicles
-
25.0%
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.

 
2.6

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Page 6

 
STRATHMORE POTATO GROWERS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.6
FINANCIAL INSTRUMENTS (CONTINUED)

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


TANGIBLE FIXED ASSETS





Plant & machinery
Motor vehicles
Total

£
£
£



COST OR VALUATION


At 1 January 2023
3,504
25,640
29,144


Disposals
-
(25,640)
(25,640)



At 31 December 2023

3,504
-
3,504



DEPRECIATION


At 1 January 2023
2,465
6,410
8,875


Charge for the year on owned assets
130
-
130


Disposals
-
(6,410)
(6,410)



At 31 December 2023

2,595
-
2,595



NET BOOK VALUE



At 31 December 2023
909
-
909



At 31 December 2022
1,039
19,230
20,269


5.


FIXED ASSET INVESTMENTS





Trade investments

£





At 1 January 2023
50




Page 7

 
STRATHMORE POTATO GROWERS LIMITED
 

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

6.


DEBTORS

2023
2022
£
£


Trade debtors
16,860
720

Other debtors
1,604
1,425

Deferred taxation
5,075
-

23,539
2,145



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
1,308
14,881

Bank loans
6,063
7,860

Trade creditors
5,720
31,006

Other creditors
141,263
107,339

154,354
161,086


Hire purchase liabilities are secured over the assets to which they relate.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
29,884
34,150

29,884
34,150


Hire purchase liabilities are secured over the assets to which they relate.


9.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 8