Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-282023-11-282022-11-29falseInvestment properties22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC063546 2022-11-29 2023-11-28 SC063546 2021-11-29 2022-11-28 SC063546 2023-11-28 SC063546 2022-11-28 SC063546 c:Director2 2022-11-29 2023-11-28 SC063546 c:Director3 2022-11-29 2023-11-28 SC063546 c:RegisteredOffice 2022-11-29 2023-11-28 SC063546 c:Agent1 2022-11-29 2023-11-28 SC063546 d:MotorVehicles 2022-11-29 2023-11-28 SC063546 d:MotorVehicles 2023-11-28 SC063546 d:MotorVehicles 2022-11-28 SC063546 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-11-29 2023-11-28 SC063546 d:FreeholdInvestmentProperty 2023-11-28 SC063546 d:FreeholdInvestmentProperty 2022-11-28 SC063546 d:CurrentFinancialInstruments 2023-11-28 SC063546 d:CurrentFinancialInstruments 2022-11-28 SC063546 d:Non-currentFinancialInstruments 2023-11-28 SC063546 d:Non-currentFinancialInstruments 2022-11-28 SC063546 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-28 SC063546 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-28 SC063546 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-28 SC063546 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-28 SC063546 d:ShareCapital 2023-11-28 SC063546 d:ShareCapital 2022-11-28 SC063546 d:RevaluationReserve 2023-11-28 SC063546 d:RevaluationReserve 2022-11-28 SC063546 d:RetainedEarningsAccumulatedLosses 2023-11-28 SC063546 d:RetainedEarningsAccumulatedLosses 2022-11-28 SC063546 c:OrdinaryShareClass1 2022-11-29 2023-11-28 SC063546 c:OrdinaryShareClass1 2023-11-28 SC063546 c:OrdinaryShareClass1 2022-11-28 SC063546 c:OrdinaryShareClass2 2022-11-29 2023-11-28 SC063546 c:OrdinaryShareClass2 2023-11-28 SC063546 c:OrdinaryShareClass2 2022-11-28 SC063546 c:FRS102 2022-11-29 2023-11-28 SC063546 c:AuditExempt-NoAccountantsReport 2022-11-29 2023-11-28 SC063546 c:FullAccounts 2022-11-29 2023-11-28 SC063546 c:PrivateLimitedCompanyLtd 2022-11-29 2023-11-28 SC063546 e:PoundSterling 2022-11-29 2023-11-28 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC063546










HARRY EMSLIE FARMERS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023

 
HARRY EMSLIE FARMERS LIMITED
 

COMPANY INFORMATION


DIRECTORS
H J Emslie 
J M Service 




REGISTERED NUMBER
SC063546



REGISTERED OFFICE
Brae of Coynach
Mintlaw

Peterhead

Aberdeenshire

AB42 5DD




SOLICITORS
Masson Glennie LLP
Broad House

Broad Street

Peterhead

AB42 1HY





 
HARRY EMSLIE FARMERS LIMITED
REGISTERED NUMBER: SC063546

STATEMENT OF FINANCIAL POSITION
AS AT 28 NOVEMBER 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
29,862
39,816

Investments
 5 
9,011
9,011

Investment property
 6 
3,589,719
3,589,719

  
3,628,592
3,638,546

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 7 
1,124,556
2,409,105

Cash at bank and in hand
  
33,590
51,055

  
1,158,146
2,460,160

Creditors: amounts falling due within one year
 8 
(831,030)
(877,450)

NET CURRENT ASSETS
  
 
 
327,116
 
 
1,582,710

TOTAL ASSETS LESS CURRENT LIABILITIES
  
3,955,708
5,221,256

Creditors: amounts falling due after more than one year
 9 
(36,637)
(959,120)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(310,936)
(310,936)

  
 
 
(310,936)
 
 
(310,936)

NET ASSETS
  
3,608,135
3,951,200


CAPITAL AND RESERVES
  

Called up share capital 
 10 
53,000
53,000

Revaluation reserve
  
3,072,260
3,072,260

Profit and loss account
  
482,875
825,940

  
3,608,135
3,951,200


Page 1

 
HARRY EMSLIE FARMERS LIMITED
REGISTERED NUMBER: SC063546

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

The directors consider 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 directors acknowledge their 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 19 August 2024.




H J Emslie
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HARRY EMSLIE FARMERS LIMITED
 

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

1.


GENERAL INFORMATION

Harry Emslie Farmers Limited is a private company, limited by shares, incorporated in Scotland with the registration number SC063546. The registered office is Brae of Coynach, Mintlaw, Peterhead, Aberdeenshire, AB42 5DD.
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

TURNOVER

Turnover 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. 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 revenue is recognised:

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 revenue 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.

 
2.3

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 3

 
HARRY EMSLIE FARMERS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.3
TANGIBLE FIXED ASSETS (CONTINUED)

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:

Motor vehicles
-
25%
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.

 
2.4

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


EMPLOYEES




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
HARRY EMSLIE FARMERS LIMITED
 

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

4.


TANGIBLE FIXED ASSETS





Motor vehicles

£



COST OR VALUATION


At 29 November 2022
80,651



At 28 November 2023

80,651



DEPRECIATION


At 29 November 2022
40,835


Charge for the year on financed assets
9,954



At 28 November 2023

50,789



NET BOOK VALUE



At 28 November 2023
29,862



At 28 November 2022
39,816


5.


FIXED ASSET INVESTMENTS





Unlisted investments

£



COST OR VALUATION


At 29 November 2022
9,011



At 28 November 2023
9,011




Page 5

 
HARRY EMSLIE FARMERS LIMITED
 

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

6.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 29 November 2022
3,589,719



AT 28 NOVEMBER 2023
3,589,719

The 2023 valuations were made by the directors, on an open market value for existing use basis.





7.


DEBTORS

2023
2022
£
£


Amounts owed by joint ventures and associated undertakings
961,016
2,400,041

Other debtors
163,540
9,064

1,124,556
2,409,105



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
-
26,514

Trade creditors
14,646
12,896

Other taxation and social security
73,161
48,098

Obligations under finance lease and hire purchase contracts
13,773
15,342

Other creditors
722,950
767,850

Accruals and deferred income
6,500
6,750

831,030
877,450


Page 6

 
HARRY EMSLIE FARMERS LIMITED
 

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

9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
-
134,924

Other loans
-
773,785

Net obligations under finance leases and hire purchase contracts
36,637
50,411

36,637
959,120


The following liabilities were secured:

2023
2022
£
£



Bank loans
-
134,924

Other loans
-
773,785

-
908,709

Details of security provided:

The loans are secured by charges over the farm and land at Brae of Coynach and a floating charge over the company assets.

Page 7

 
HARRY EMSLIE FARMERS LIMITED
 

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

10.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



50,000 (2022 - 50,000) Ordinary Shares shares of £1.00 each
50,000
50,000
3,000 (2022 - 3,000) Ordinary A Shares shares of £1.00 each
3,000
3,000

53,000

53,000



Page 8