Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falsetrue122023-01-09No description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC754642 2023-01-08 SC754642 2023-01-09 2024-04-30 SC754642 2022-01-09 2023-01-08 SC754642 2024-04-30 SC754642 c:Director1 2023-01-09 2024-04-30 SC754642 c:Director1 2024-04-30 SC754642 c:Director2 2023-01-09 2024-04-30 SC754642 c:Director2 2024-04-30 SC754642 c:Director3 2023-01-09 2024-04-30 SC754642 c:Director3 2024-04-30 SC754642 c:RegisteredOffice 2023-01-09 2024-04-30 SC754642 d:Buildings 2023-01-09 2024-04-30 SC754642 d:Buildings 2024-04-30 SC754642 d:Buildings d:OwnedOrFreeholdAssets 2023-01-09 2024-04-30 SC754642 d:PlantMachinery 2023-01-09 2024-04-30 SC754642 d:PlantMachinery 2024-04-30 SC754642 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-09 2024-04-30 SC754642 d:MotorVehicles 2023-01-09 2024-04-30 SC754642 d:MotorVehicles 2024-04-30 SC754642 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-09 2024-04-30 SC754642 d:FurnitureFittings 2023-01-09 2024-04-30 SC754642 d:FurnitureFittings 2024-04-30 SC754642 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-09 2024-04-30 SC754642 d:OtherPropertyPlantEquipment 2023-01-09 2024-04-30 SC754642 d:OtherPropertyPlantEquipment 2024-04-30 SC754642 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-09 2024-04-30 SC754642 d:OwnedOrFreeholdAssets 2023-01-09 2024-04-30 SC754642 d:CurrentFinancialInstruments 2024-04-30 SC754642 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 SC754642 d:ShareCapital 2024-04-30 SC754642 d:RetainedEarningsAccumulatedLosses 2024-04-30 SC754642 c:OrdinaryShareClass1 2023-01-09 2024-04-30 SC754642 c:OrdinaryShareClass1 2024-04-30 SC754642 c:OrdinaryShareClass2 2023-01-09 2024-04-30 SC754642 c:OrdinaryShareClass2 2024-04-30 SC754642 c:OrdinaryShareClass3 2023-01-09 2024-04-30 SC754642 c:OrdinaryShareClass3 2024-04-30 SC754642 c:OrdinaryShareClass4 2023-01-09 2024-04-30 SC754642 c:OrdinaryShareClass4 2024-04-30 SC754642 c:FRS102 2023-01-09 2024-04-30 SC754642 c:AuditExempt-NoAccountantsReport 2023-01-09 2024-04-30 SC754642 c:FullAccounts 2023-01-09 2024-04-30 SC754642 c:PrivateLimitedCompanyLtd 2023-01-09 2024-04-30 SC754642 e:PoundSterling 2023-01-09 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC754642










BROOMBANK FARMS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

 
BROOMBANK FARMS LIMITED
 

COMPANY INFORMATION


Directors
Mrs E C Forbes (appointed 9 January 2023)
Mr G A Forbes (appointed 9 January 2023)
Mr N Fraser (appointed 9 January 2023)




Registered number
SC754642



Registered office
Broombank
Fordoun

Laurencekirk

AB30 1LD




Accountants
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
BROOMBANK FARMS LIMITED
REGISTERED NUMBER: SC754642

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
Note
£

FIXED ASSETS
  

Tangible assets
 4 
8,324,490

Investments
 5 
50

  
8,324,540

CURRENT ASSETS
  

Stocks
  
594,687

Debtors: amounts falling due within one year
 6 
485,171

Cash at bank and in hand
  
399,893

  
1,479,751

Creditors: amounts falling due within one year
 7 
(3,939,401)

NET CURRENT (LIABILITIES)/ASSETS
  
 
 
(2,459,650)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
5,864,890

  

NET ASSETS
  
5,864,890


CAPITAL AND RESERVES
  

Called up share capital 
 8 
5,750,100

Profit and loss account
  
114,790

  
5,864,890


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 2 October 2024.




Mr G A Forbes
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 
BROOMBANK FARMS LIMITED
REGISTERED NUMBER: SC754642

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024


Page 2

 
BROOMBANK FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

Broombank Farms Limited is a private company, limited by shares, incorporated in Scotland with registration number SC754642. The registered office is Westby, 64 West High Street, Forfar, DD8 1BJ.
The principal place of business is Broombank, Fordoun, Laurencekirk, AB30 1LD.
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

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.

  
2.4

AGRICULTURAL SUPPORT SCHEMES

income from Basic Payment Scheme is not recognised until 31 December of the relevant scheme year, when all conditions of the scheme have been complied with.

Page 3

 
BROOMBANK FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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.

 
2.7

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 a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
12.5%
Motor vehicles
-
25.0%
Tractors and combines
-
12.5%
Biomass
-
5.0%

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.

 
2.8

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.

Page 4

 
BROOMBANK FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

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 Period was 12.


4.


TANGIBLE FIXED ASSETS





Land and buildings
Plant and machinery
Motor vehicles
Tractors and combines
Biomass

£
£
£
£
£



COST OR VALUATION


Additions
6,285,799
981,197
208,388
1,003,029
291,810


Disposals
-
(6,708)
-
(143,033)
-



At 30 April 2024

6,285,799
974,489
208,388
859,996
291,810



DEPRECIATION


Charge for the Period on owned assets
-
121,804
52,097
107,500
14,591



At 30 April 2024

-
121,804
52,097
107,500
14,591



NET BOOK VALUE



At 30 April 2024
6,285,799
852,685
156,291
752,496
277,219
Page 5

 
BROOMBANK FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

           4.TANGIBLE FIXED ASSETS (CONTINUED)


Total

£



COST OR VALUATION


Additions
8,770,223


Disposals
(149,741)



At 30 April 2024

8,620,482



DEPRECIATION


Charge for the Period on owned assets
295,992



At 30 April 2024

295,992



NET BOOK VALUE



At 30 April 2024
8,324,490


5.


FIXED ASSET INVESTMENTS





Trade investments

£





Additions
50





6.


DEBTORS

2024
£


Trade debtors
106,000

Other debtors
368,081

Prepayments and accrued income
11,090

485,171


Page 6

 
BROOMBANK FARMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
£

Trade creditors
317,794

Other taxation and social security
63,678

Obligations under finance lease and hire purchase contracts
155,079

Other creditors
3,399,640

Accruals and deferred income
3,210

3,939,401



8.


SHARE CAPITAL

2024
£
ALLOTTED, CALLED UP AND FULLY PAID


45 Ordinary A shares of £1.00 each
45
45 Ordinary B shares of £1.00 each
45
10 Ordinary C shares of £1.00 each
10
5,750,000 Redeemable preference shares of £1.00 each
5,750,000

5,750,100


During the year 45 Ordinary A, 45 Ordinary B, 10 Ordinary C, and 5,750,000 redeemable preference shares were declared and issued.


Page 7