Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-282023-11-2862022-11-29falseNo description of principal activity6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC040441 2022-11-29 2023-11-28 SC040441 2021-11-29 2022-11-28 SC040441 2023-11-28 SC040441 2022-11-28 SC040441 c:CompanySecretary1 2022-11-29 2023-11-28 SC040441 c:Director1 2022-11-29 2023-11-28 SC040441 c:RegisteredOffice 2022-11-29 2023-11-28 SC040441 c:Agent1 2022-11-29 2023-11-28 SC040441 d:Buildings 2022-11-29 2023-11-28 SC040441 d:Buildings 2023-11-28 SC040441 d:Buildings 2022-11-28 SC040441 d:Buildings d:OwnedOrFreeholdAssets 2022-11-29 2023-11-28 SC040441 d:Buildings d:ShortLeaseholdAssets 2022-11-29 2023-11-28 SC040441 d:Buildings d:ShortLeaseholdAssets 2023-11-28 SC040441 d:Buildings d:ShortLeaseholdAssets 2022-11-28 SC040441 d:PlantMachinery 2022-11-29 2023-11-28 SC040441 d:PlantMachinery 2023-11-28 SC040441 d:PlantMachinery 2022-11-28 SC040441 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-29 2023-11-28 SC040441 d:MotorVehicles 2022-11-29 2023-11-28 SC040441 d:MotorVehicles 2023-11-28 SC040441 d:MotorVehicles 2022-11-28 SC040441 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-29 2023-11-28 SC040441 d:FurnitureFittings 2022-11-29 2023-11-28 SC040441 d:FurnitureFittings 2023-11-28 SC040441 d:FurnitureFittings 2022-11-28 SC040441 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-29 2023-11-28 SC040441 d:OwnedOrFreeholdAssets 2022-11-29 2023-11-28 SC040441 d:CurrentFinancialInstruments 2023-11-28 SC040441 d:CurrentFinancialInstruments 2022-11-28 SC040441 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-28 SC040441 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-28 SC040441 d:ShareCapital 2023-11-28 SC040441 d:ShareCapital 2022-11-28 SC040441 d:SharePremium 2023-11-28 SC040441 d:SharePremium 2022-11-28 SC040441 d:CapitalRedemptionReserve 2023-11-28 SC040441 d:CapitalRedemptionReserve 2022-11-28 SC040441 d:RetainedEarningsAccumulatedLosses 2023-11-28 SC040441 d:RetainedEarningsAccumulatedLosses 2022-11-28 SC040441 c:OrdinaryShareClass1 2022-11-29 2023-11-28 SC040441 c:OrdinaryShareClass1 2023-11-28 SC040441 c:OrdinaryShareClass1 2022-11-28 SC040441 c:FRS102 2022-11-29 2023-11-28 SC040441 c:AuditExempt-NoAccountantsReport 2022-11-29 2023-11-28 SC040441 c:FullAccounts 2022-11-29 2023-11-28 SC040441 c:PrivateLimitedCompanyLtd 2022-11-29 2023-11-28 SC040441 e:PoundSterling 2022-11-29 2023-11-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC040441










GARROWS FARM LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023

 
GARROWS FARM LIMITED
 

COMPANY INFORMATION


Director
Sir John Kemp-Welch 




Company secretary
Sarah Katherine Kemp-Welch



Registered number
SC040441



Registered office
Westby
64 West High Street

Forfar

DD8 1BJ




Accountants
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ




Bankers
Bank of Scotland plc
10 - 16 King Edward Street

Perth

PH1 5UT





 
GARROWS FARM LIMITED
REGISTERED NUMBER: SC040441

STATEMENT OF FINANCIAL POSITION
AS AT 28 NOVEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
3,104,293
2,877,158

Investments
 5 
55
55

  
3,104,348
2,877,213

CURRENT ASSETS
  

Stocks
  
323,372
237,928

Debtors
  
128,315
154,303

Cash at bank and in hand
  
412,013
583,873

  
863,700
976,104

Creditors: amounts falling due within one year
 6 
(481,284)
(503,067)

NET CURRENT ASSETS
  
 
 
382,416
 
 
473,037

TOTAL ASSETS LESS CURRENT LIABILITIES
  
3,486,764
3,350,250

  

NET ASSETS
  
3,486,764
3,350,250


CAPITAL AND RESERVES
  

Called up share capital 
 7 
500,000
500,000

Share premium account
  
3,565,400
3,565,400

Capital redemption reserve
  
34,843
34,843

Profit and loss account
  
(613,479)
(749,993)

  
3,486,764
3,350,250


Page 1

 
GARROWS FARM LIMITED
REGISTERED NUMBER: SC040441

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 NOVEMBER 2023

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 26 August 2024.




Sir John Kemp-Welch
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
GARROWS FARM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023

1.


GENERAL INFORMATION

The company is limited by shares and incorporated in Scotland. The address of the registered office is Westby, West High Street, Forfar, DD8 1BJ. 

 The Company's functional and presentational currency is GBP.

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

REVENUE

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

Sale of goods

Revenue 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 revenue 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.

 
2.3

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
GARROWS FARM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

TAXATION

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

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

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.

Page 4

 
GARROWS FARM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.6
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Heritable property
-
Not depreciated
Hydro schemes
-
2% straight line
Plant and machinery
-
12.5% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% straight line

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.

 
2.7

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

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 6 (2022 - 6).

Page 5

 
GARROWS FARM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023

4.


TANGIBLE FIXED ASSETS





Heritable property
Hydro schemes
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£
£



COST OR VALUATION


At 29 November 2022
2,996,109
1,109,101
171,493
183,617
66,833
4,527,153


Additions
301,510
-
-
-
-
301,510



At 28 November 2023

3,297,619
1,109,101
171,493
183,617
66,833
4,828,663



DEPRECIATION


At 29 November 2022
1,123,165
177,135
124,903
157,959
66,833
1,649,995


Charge for the year on owned assets
33,454
22,183
6,990
11,748
-
74,375



At 28 November 2023

1,156,619
199,318
131,893
169,707
66,833
1,724,370



NET BOOK VALUE



At 28 November 2023
2,141,000
909,783
39,600
13,910
-
3,104,293



At 28 November 2022
1,872,944
931,966
46,590
25,658
-
2,877,158


5.


FIXED ASSET INVESTMENTS





Trade investments

£





At 29 November 2022
55





6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
130,083
136,159

Other creditors
296,776
312,375

Accruals and deferred income
54,425
54,533

481,284
503,067



7.


SHARE CAPITAL

2023
2022
Page 6

 
GARROWS FARM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023

7.SHARE CAPITAL (CONTINUED)

£
£
ALLOTTED, CALLED UP AND FULLY PAID



500,000 (2022 - 500,000) Ordinary shares of £1.00 each
500,000
500,000



Page 7