Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity33truetruefalse SC156590 2023-04-01 2024-03-31 SC156590 2022-04-01 2023-03-31 SC156590 2024-03-31 SC156590 2023-03-31 SC156590 c:CompanySecretary1 2023-04-01 2024-03-31 SC156590 c:Director1 2023-04-01 2024-03-31 SC156590 c:Director2 2023-04-01 2024-03-31 SC156590 c:Director3 2023-04-01 2024-03-31 SC156590 c:RegisteredOffice 2023-04-01 2024-03-31 SC156590 d:PlantMachinery 2023-04-01 2024-03-31 SC156590 d:PlantMachinery 2024-03-31 SC156590 d:PlantMachinery 2023-03-31 SC156590 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC156590 d:CurrentFinancialInstruments 2024-03-31 SC156590 d:CurrentFinancialInstruments 2023-03-31 SC156590 d:Non-currentFinancialInstruments 2024-03-31 SC156590 d:Non-currentFinancialInstruments 2023-03-31 SC156590 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC156590 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC156590 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC156590 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC156590 d:ShareCapital 2024-03-31 SC156590 d:ShareCapital 2023-03-31 SC156590 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC156590 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC156590 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC156590 c:OrdinaryShareClass1 2024-03-31 SC156590 c:OrdinaryShareClass1 2023-03-31 SC156590 c:FRS102 2023-04-01 2024-03-31 SC156590 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC156590 c:FullAccounts 2023-04-01 2024-03-31 SC156590 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC156590 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC156590










JAYTEE FARMS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
JAYTEE FARMS LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr J Brown 
Mr H Brown 
Mr M Brown 




COMPANY SECRETARY
Mr J Brown



REGISTERED NUMBER
SC156590



REGISTERED OFFICE
West Adamston
Muirhead

Dundee

DD2 5QX




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
JAYTEE FARMS LIMITED
REGISTERED NUMBER: SC156590

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,276,562
852,748

  
1,276,562
852,748

CURRENT ASSETS
  

Stocks
  
147,494
209,023

Debtors
 5 
2,091,021
1,603,980

Bank & cash balances
  
59,412
90,122

  
2,297,927
1,903,125

Creditors: amounts falling due within one year
 6 
(232,668)
(219,082)

NET CURRENT ASSETS
  
 
 
2,065,259
 
 
1,684,043

TOTAL ASSETS LESS CURRENT LIABILITIES
  
3,341,821
2,536,791

Creditors: amounts falling due after more than one year
 7 
(340,039)
(107,653)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(319,141)
(162,022)

  
 
 
(319,141)
 
 
(162,022)

NET ASSETS
  
2,682,641
2,267,116


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Profit and loss account
  
2,682,541
2,267,016

  
2,682,641
2,267,116


Page 1

 
JAYTEE FARMS LIMITED
REGISTERED NUMBER: SC156590

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 26 July 2024.


Mr H Brown
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
JAYTEE FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Jaytee Farms Limited is a private company, limited by shares, incorporated in Scotland with the registration number SC156590.  The registered office is West Adamston, Muirhead, Dundee, DD2 5QX.  
The Company's functional and presentational currwncy 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

COMPANY'S BUSINESS

The company's business is the growing and marketing of potatoes as well as contract work income from the assets owned. 
The company also farms through its participation in the partnership of Messrs John Brown and Son. Income comprises the company's share in the partnership profits and losses for each year. The book value of its interest in the partnership comprises the balance standing to its credit on the current account in the books of that business.

 
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.

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 and equipment
-
12.5%

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.

Page 3

 
JAYTEE FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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.

 
2.5

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


TANGIBLE FIXED ASSETS





Plant & machinery

£



COST OR VALUATION


At 1 April 2023
1,288,278


Additions
739,134


Disposals
(196,102)



At 31 March 2024

1,831,310



DEPRECIATION


At 1 April 2023
435,530


Charge for the year on owned assets
182,347


Disposals
(63,129)



At 31 March 2024

554,748



NET BOOK VALUE



At 31 March 2024
1,276,562



At 31 March 2023
852,748

Page 4

 
JAYTEE FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


DEBTORS

2024
2023
£
£

DUE AFTER MORE THAN ONE YEAR

Current account in related partnership of John Brown and Sons
14,856
202,702

14,856
202,702

DUE WITHIN ONE YEAR

Trade debtors
316,338
154,972

Other debtors
109,827
61,306

Capital account in related partnership of John Brown and Sons
1,650,000
1,185,000

2,091,021
1,603,980



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
39,939
41,783

Other taxation and social security
49,335
61,190

Obligations under finance lease and hire purchase contracts
140,894
113,609

Other creditors
2,500
2,500

232,668
219,082


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


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
340,039
107,653

340,039
107,653


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

Page 5

 
JAYTEE FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



Page 6