Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01No description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC459923 2023-01-01 2023-12-31 SC459923 2022-01-01 2022-12-31 SC459923 2023-12-31 SC459923 2022-12-31 SC459923 c:Director1 2023-01-01 2023-12-31 SC459923 c:Director2 2023-01-01 2023-12-31 SC459923 c:Director3 2023-01-01 2023-12-31 SC459923 c:RegisteredOffice 2023-01-01 2023-12-31 SC459923 d:Buildings 2023-12-31 SC459923 d:Buildings 2022-12-31 SC459923 d:PlantMachinery 2023-01-01 2023-12-31 SC459923 d:MotorVehicles 2023-01-01 2023-12-31 SC459923 d:OfficeEquipment 2023-01-01 2023-12-31 SC459923 d:CurrentFinancialInstruments 2023-12-31 SC459923 d:CurrentFinancialInstruments 2022-12-31 SC459923 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC459923 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC459923 d:ShareCapital 2023-12-31 SC459923 d:ShareCapital 2022-12-31 SC459923 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC459923 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC459923 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC459923 c:OrdinaryShareClass1 2023-12-31 SC459923 c:OrdinaryShareClass1 2022-12-31 SC459923 c:FRS102 2023-01-01 2023-12-31 SC459923 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC459923 c:FullAccounts 2023-01-01 2023-12-31 SC459923 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC459923 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC459923










ARDGLENNIE FARMING COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
ARDGLENNIE FARMING COMPANY LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr W R Young 
Mrs F Young 
Mr M R Young 




REGISTERED NUMBER
SC459923



REGISTERED OFFICE
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
ARDGLENNIE FARMING COMPANY LIMITED
REGISTERED NUMBER:SC459923

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
427,682
427,682

  
427,682
427,682

CURRENT ASSETS
  

Stocks
  
145,141
82,242

Debtors: amounts falling due within one year
 5 
581
542

Cash at bank and in hand
  
34,668
86,141

  
180,390
168,925

Creditors: amounts falling due within one year
 6 
(393,322)
(383,799)

NET CURRENT LIABILITIES
  
 
 
(212,932)
 
 
(214,874)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
214,750
212,808

  

NET ASSETS
  
214,750
212,808


CAPITAL AND RESERVES
  

Called up share capital 
 7 
100
100

Profit and loss account
  
214,650
212,708

  
214,750
212,808


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 comprehensive income 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.


Mr W R Young
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
ARDGLENNIE FARMING COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1.


GENERAL INFORMATION

Ardglennie Farming Company Limited is a private limited company limited by shares incorporated in Scotland.  The registered office is Westby, 64 West High Street, Forfar, DD8 1BJ and the Company's registration number is SC459923.

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

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 2

 
ARDGLENNIE FARMING COMPANY LIMITED
 

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

2.ACCOUNTING POLICIES (continued)

 
2.3

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.

 
2.4

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.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis .

Depreciation is provided on the following basis:

Plant and machinery
-
12.5%
straight line
Motor vehicles
-
25.0%
reducing balance
Tractors
-
12.5%
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.

 
2.5

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 weighted average 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.

 
2.6

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.

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.

Page 3

 
ARDGLENNIE FARMING COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


TANGIBLE FIXED ASSETS





Land and buildings

£



COST OR VALUATION


At 1 January 2023
427,682



At 31 December 2023

427,682






NET BOOK VALUE



At 31 December 2023
427,682



At 31 December 2022
427,682

Page 4

 
ARDGLENNIE FARMING COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


5.


DEBTORS

2023
2022
£
£


Trade debtors
581
542

581
542



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
3,407
8,009

Amounts owed to group companies
198,128
187,366

Other taxation and social security
4,917
554

Other creditors
186,870
187,870

393,322
383,799



7.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



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



Page 5