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REGISTERED NUMBER: 01573228 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Scribeland Limited

Scribeland Limited (Registered number: 01573228)






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




Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 4

Notes to the Financial Statements 5


Scribeland Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A J Goodsell
B A Goodsell
C J Wheelwright





SECRETARY: Mrs S J Goodsell





REGISTERED OFFICE: Green Barn Farm
Selborne Road
Alton
Hampshire
GU34 3HL





REGISTERED NUMBER: 01573228 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH

Scribeland Limited (Registered number: 01573228)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,272,105 1,186,051

CURRENT ASSETS
Stocks 5 263,797 223,126
Debtors 6 88,270 302,051
Cash at bank 2,483 1,207
354,550 526,384
CREDITORS
Amounts falling due within one year 7 246,657 367,647
NET CURRENT ASSETS 107,893 158,737
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,379,998

1,344,788

CREDITORS
Amounts falling due after more than one
year

8

(511,543

)

(483,390

)

PROVISIONS FOR LIABILITIES 10 (200,485 ) (201,834 )
NET ASSETS 667,970 659,564

CAPITAL AND RESERVES
Called up share capital 11 37,110 37,110
Share premium 33,000 33,000
Capital redemption reserve 12,905 12,905
Fair value reserve - non-distributable 342,630 342,630
Retained earnings 242,325 233,919
SHAREHOLDERS' FUNDS 667,970 659,564

Scribeland Limited (Registered number: 01573228)

Balance Sheet - continued
31 December 2023


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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





B A Goodsell - Director


Scribeland Limited (Registered number: 01573228)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 January 2022 37,110 213,304 33,000

Changes in equity
Profit for the year - 75,936 -
Total comprehensive income - 75,936 -
Dividends - (55,321 ) -
Balance at 31 December 2022 37,110 233,919 33,000

Changes in equity
Profit for the year - 35,406 -
Total comprehensive income - 35,406 -
Dividends - (27,000 ) -
Balance at 31 December 2023 37,110 242,325 33,000
Fair
Capital value
redemption reserve - Total
reserve non-distributable equity
£    £    £   
Balance at 1 January 2022 12,905 342,630 638,949

Changes in equity
Profit for the year - - 75,936
Total comprehensive income - - 75,936
Dividends - - (55,321 )
Balance at 31 December 2022 12,905 342,630 659,564

Changes in equity
Profit for the year - - 35,406
Total comprehensive income - - 35,406
Dividends - - (27,000 )
Balance at 31 December 2023 12,905 342,630 667,970

Scribeland Limited (Registered number: 01573228)

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

1. STATUTORY INFORMATION

Scribeland 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is the total amount receivable by the company for goods supplied and services provided, excluding value added tax and trade discounts.


Tangible fixed assets
Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets by annual instalments over their expected useful lives. The rates generally applicable are:

Plant and machinery12.5% straight line;
12.5% reducing balance;
15% reducing balance;
20% reducing balance; and
25% reducing balance.

Motor vehicles20% reducing balance; and
25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Crops in store are valued in accordance with HMRC HS232.

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.

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.

Scribeland Limited (Registered number: 01573228)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Long-term contracts
The turnover and attributable profit on long-term contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of work completed to date on the project. Costs associated with long-term contracts are included in stock to the extent that they cannot be matched with contract work accounted for as turnover. Long-term contract balances included in stocks are stated at cost, after provision has been made for any foreseeable losses. The directors consider that special circumstances exist so that compliance with the provisions of FRS102 in relation to payments on account is inconsistent with the requirement to give a true and fair view and accordingly the directors have departed from the provisions as follows; payments received on account of long-term contracts are shown in creditors rather than being deducted from the stock figure.

Pensions
Defined Contribution Scheme

The pension costs charged against profits represent the amount of the contributions payable to the scheme in respect of the accounting period.


3. EMPLOYEES

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Land and Plant and Motor
buildings machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 535,000 1,435,091 39,740 2,009,831
Additions - 272,008 - 272,008
Disposals - (142,250 ) - (142,250 )
At 31 December 2023 535,000 1,564,849 39,740 2,139,589
DEPRECIATION
At 1 January 2023 - 789,895 33,885 823,780
Charge for year - 98,214 1,171 99,385
Eliminated on disposal - (55,681 ) - (55,681 )
At 31 December 2023 - 832,428 35,056 867,484
NET BOOK VALUE
At 31 December 2023 535,000 732,421 4,684 1,272,105
At 31 December 2022 535,000 645,196 5,855 1,186,051

Scribeland Limited (Registered number: 01573228)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Land and Plant and Motor
buildings machinery vehicles Totals
£    £    £    £   
Valuation in 2020 423,000 - - 423,000
Cost 112,000 1,564,849 39,740 1,716,589
535,000 1,564,849 39,740 2,139,589

If land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 112,000 112,000

Land and buildings were valued on an open market basis on 31 December 2023 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 883,761 16,475 900,236
Additions 269,189 - 269,189
Disposals (142,250 ) - (142,250 )
At 31 December 2023 1,010,700 16,475 1,027,175
DEPRECIATION
At 1 January 2023 386,412 10,626 397,038
Charge for year 78,261 1,170 79,431
Eliminated on disposal (55,681 ) - (55,681 )
At 31 December 2023 408,992 11,796 420,788
NET BOOK VALUE
At 31 December 2023 601,708 4,679 606,387
At 31 December 2022 497,349 5,849 503,198

Scribeland Limited (Registered number: 01573228)

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

5. STOCKS

20232022
££
SEEDS,
FERTILISERS
AND SPRAYS


Seed23,7682,800
Fertiliser47,46037,800
Sprays28,5706,178
Seed (applied)-16,781
Fertiliser (applied)--
Sprays (applied)-10,639
99,79874,198

GOODS IN
STORE

Machine spares14,35615,000
Fuel12,18010,000
Office500500
Hay and straw2,500-
Oats--
Wheat73,20044,000
Barley--
Beans4,5006,000
107,23675,500

TILLAGES56,76373,428

FORESTRY
CONTRACTS

Stock--

263,797223,126

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 42,875 107,486
Other debtors 15 15
VAT - 20,918
Prepayments and accrued income 45,380 173,632
88,270 302,051

Scribeland Limited (Registered number: 01573228)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank overdraft 24,978 50,235
Bank loans 25,097 20,844
BBLS (Bounce Back Loan Scheme) 9,600 9,600
Hire purchase contracts 32,551 24,105
Trade creditors 68,055 108,746
Corporation tax - 14,692
VAT 12,306 -
Other creditors 28,425 39,971
Payments received on account of contracts - 78,791
Directors' current accounts 13,913 13,913
Accrued expenses 31,732 6,750
246,657 367,647

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 69,620 91,478
Hire purchase 81,765 42,270
BBLS (Bounce Back Loan Scheme) 14,304 23,788
Shareholders loan 345,854 325,854
511,543 483,390

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 24,978 50,235
Bank loans 118,621 145,710
Hire purchase 114,316 66,375
257,915 262,320

Mr A J Goodsell, a director of the company, has given a personal guarantee up to the value of £70,000 for the bank overdraft and the bank loans. A further legal charge is given over the Land and Storage Barn at Selborne Road, Alton, Hampshire if payment above the initial security provided is required.

Mr A J Goodsell also gives a personal guarantee in respect of payments due under various operating and finance leases held by Scribeland Limited.

Scribeland Limited (Registered number: 01573228)

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

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 137,948 121,464
Unrelieved trading losses (17,833 ) -
Revaluation of fixed assets 80,370 80,370
200,485 201,834

Deferred
tax
£   
Balance at 1 January 2023 201,834
Accelerated capital allowances 16,484
Unrelieved trading losses (17,833 )
Balance at 31 December 2023 200,485

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
37,095 Ordinary £1 37,095 37,095
15 Ordinary 'A' £1 15 15
37,110 37,110

The Ordinary shares and Ordinary 'A' shares rank pari passu in all respects except that dividends may be paid to the holders of one class of shares to the exclusion of the other at the director's discretion.

Scribeland Limited (Registered number: 01573228)

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

12. RELATED PARTY DISCLOSURES

Moundsmere Estate Management Limited
A company that Mr C J Wheelwright is a director of.

During the period under review the company paid management charges to Moundsmere Estate Management Limited amounting to £6,077 (2022 - £8,454). There is no interest due on any outstanding balance.

Agronomy Buying Services Limited
A company that Mr C J Wheelwright is a director of.

During the period under review the company received rebates of £1,487 (2022 - £1,613) and paid commissions of £679 (2022 - £1,197) to Agronomy Buying Services Limited. There is no interest due on any outstanding balance.

A J Goodsell
A director

Mr A J Goodsell, in line with previous years, has given personal guarantees to cover the company's liabilities as follows:

To Claas Finance - in relation to payments due under various operating and finance leases.

Mrs S J Goodsell
Secretary and spouse of director Mr A J Goodsell

In a prior period Mrs S J Goodsell has provided a loan to the company amounting to £39,971. This loan is given on an arm's length basis, is interest free, unsecured and is repayable on demand.

A J Goodsell and Mrs S J Goodsell
During the period under review A J Goodsell and Mrs S J Goodsell jointly loaned the company £20,000 (2022 - £30,000). Interest has been paid on the loan at 2%.

2023 2022
£ £
Amounts due (from)/to related parties as at the balance sheet date
Moundsmere Estate Management Limited 2,295 2,186
Agronomy Buying Services Limited - 133
B A Goodsell 13,913 13,913
Mrs S J Goodsell 28,425 39,971
A J Goodsell and Mrs S J Goodsell 345,854 325,854