Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falseNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.42023-01-17falsetruetrue SC755681 2023-01-16 SC755681 2023-01-17 2023-12-31 SC755681 2022-01-01 2023-01-16 SC755681 2023-12-31 SC755681 c:Director1 2023-01-17 2023-12-31 SC755681 c:Director1 2023-12-31 SC755681 c:Director2 2023-01-17 2023-12-31 SC755681 c:Director2 2023-12-31 SC755681 c:Director3 2023-01-17 2023-12-31 SC755681 c:Director3 2023-12-31 SC755681 c:Director4 2023-01-17 2023-12-31 SC755681 c:Director4 2023-12-31 SC755681 c:RegisteredOffice 2023-01-17 2023-12-31 SC755681 d:CurrentFinancialInstruments 2023-12-31 SC755681 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC755681 d:ShareCapital 2023-12-31 SC755681 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC755681 c:OrdinaryShareClass1 2023-01-17 2023-12-31 SC755681 c:OrdinaryShareClass1 2023-12-31 SC755681 c:FRS102 2023-01-17 2023-12-31 SC755681 c:AuditExempt-NoAccountantsReport 2023-01-17 2023-12-31 SC755681 c:FullAccounts 2023-01-17 2023-12-31 SC755681 c:PrivateLimitedCompanyLtd 2023-01-17 2023-12-31 SC755681 6 2023-01-17 2023-12-31 SC755681 e:PoundSterling 2023-01-17 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC755681










PEASE BAY FARMS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

 
PEASE BAY FARMS LIMITED
 

COMPANY INFORMATION


Directors
Andrew Laing (appointed 15 March 2023)
James Mason (appointed 15 March 2023)
Michael Mclaren (appointed 15 March 2023)
Alistair Lang (appointed 17 January 2023, resigned 15 March 2023)




Registered number
SC755681



Registered office
Kinburn Castle
Doubledykes Road

St Andrews

Fife

KY16 9DR




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
PEASE BAY FARMS LIMITED
REGISTERED NUMBER: SC755681

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
£

FIXED ASSETS
  

Investments
 4 
4,843

  
4,843

CURRENT ASSETS
  

Stocks
 5 
1,298,421

Debtors: amounts falling due within one year
 6 
1,795,644

Cash at bank and in hand
  
129,287

  
3,223,352

Creditors: amounts falling due within one year
 7 
(431,186)

NET CURRENT ASSETS
  
 
 
2,792,166

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,797,009

  

NET ASSETS
  
2,797,009


CAPITAL AND RESERVES
  

Called up share capital 
 8 
2,800,000

Profit and loss account
  
(2,991)

  
2,797,009


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 period 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 9 August 2024.




Andrew Laing
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
PEASE BAY FARMS LIMITED
 

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

1.


GENERAL INFORMATION

Pease Bay Farms Limited is a private company, limited by shares, incorporated in Scotland with the registration number SC755681. The registered office is Kinburn Castle, Doubledykes Road, St. Andrews, Fife, Scotland, KY16 9DR.
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.

 
2.3

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 2

 
PEASE BAY FARMS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 4.


4.


FIXED ASSET INVESTMENTS





Unlisted investments

£



COST OR VALUATION


Additions
4,843



At 31 December 2023
4,843





5.


STOCKS

2023
£

Crops in ground
1,298,421

1,298,421



6.


DEBTORS

2023
£


Trade debtors
1,408,588

Other debtors
387,056

1,795,644


Page 3

 
PEASE BAY FARMS LIMITED
 

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

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
£

Trade creditors
125,210

Accruals and deferred income
5,750

Other creditors
3,538

Other loans
296,688

431,186



8.


SHARE CAPITAL

2023
£
AUTHORISED, ALLOTTED, CALLED UP AND FULLY PAID


2,800,000 Ordinary shares shares of £1.00 each
2,800,000


The company was incorporated on 17 January 2023 and throughout the year issued 2,800,000 Ordinary £1 shares at par value.


Page 4