Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity22truefalse SC330346 2023-04-01 2024-03-31 SC330346 2022-04-01 2023-03-31 SC330346 2024-03-31 SC330346 2023-03-31 SC330346 c:CompanySecretary1 2023-04-01 2024-03-31 SC330346 c:Director1 2023-04-01 2024-03-31 SC330346 c:Director2 2023-04-01 2024-03-31 SC330346 c:RegisteredOffice 2023-04-01 2024-03-31 SC330346 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 SC330346 d:Buildings d:LongLeaseholdAssets 2024-03-31 SC330346 d:Buildings d:LongLeaseholdAssets 2023-03-31 SC330346 d:PlantMachinery 2023-04-01 2024-03-31 SC330346 d:PlantMachinery 2024-03-31 SC330346 d:PlantMachinery 2023-03-31 SC330346 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC330346 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC330346 d:CurrentFinancialInstruments 2024-03-31 SC330346 d:CurrentFinancialInstruments 2023-03-31 SC330346 d:Non-currentFinancialInstruments 2024-03-31 SC330346 d:Non-currentFinancialInstruments 2023-03-31 SC330346 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC330346 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC330346 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC330346 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC330346 d:ShareCapital 2024-03-31 SC330346 d:ShareCapital 2023-03-31 SC330346 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC330346 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC330346 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC330346 c:OrdinaryShareClass1 2024-03-31 SC330346 c:OrdinaryShareClass1 2023-03-31 SC330346 c:FRS102 2023-04-01 2024-03-31 SC330346 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC330346 c:FullAccounts 2023-04-01 2024-03-31 SC330346 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC330346 2 2023-04-01 2024-03-31 SC330346 6 2023-04-01 2024-03-31 SC330346 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC330346










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

 
GAMRIE FARMS LIMITED
 

COMPANY INFORMATION


DIRECTORS
D R Allan 
S D Allan 




COMPANY SECRETARY
Mrs H Allan



REGISTERED NUMBER
SC330346



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





 
GAMRIE FARMS LIMITED
REGISTERED NUMBER: SC330346

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

FIXED ASSETS
  

Tangible assets
 4 
4,270,346
2,416,750

Investments
 5 
19,150
300

  
4,289,496
2,417,050

CURRENT ASSETS
  

Debtors
 6 
2,950,692
2,282,815

Bank & cash balances
  
2,946
4,210

  
2,953,638
2,287,025

Creditors: amounts falling due within one year
 7 
(2,649,286)
(704,460)

NET CURRENT ASSETS
  
 
 
304,352
 
 
1,582,565

TOTAL ASSETS LESS CURRENT LIABILITIES
  
4,593,848
3,999,615

Creditors: amounts falling due after more than one year
  
(80,000)
(120,000)

  

NET ASSETS
  
4,513,848
3,879,615


CAPITAL AND RESERVES
  

Called up share capital 
 9 
100
100

Profit and loss account
  
4,513,748
3,879,515

  
4,513,848
3,879,615


Page 1

 
GAMRIE FARMS LIMITED
REGISTERED NUMBER: SC330346

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 6 September 2024.




D R Allan
S D Allan
Director
Director

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

Page 2

 
GAMRIE FARMS LIMITED
 

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

1.


GENERAL INFORMATION

Gamrie Farms Limited is a private company, limited by shares, domiciled in Scotland, registration number SC330346. The registered office is Westby, 64 West High Street, Forfar, Angus, DD8 1BJ. The principal place of business is Mains of Melrose, Gamrie, Banff, AB45 3EQ.
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

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

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.

Page 3

 
GAMRIE FARMS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

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, as follows.

Depreciation is provided on the following basis:

Heritable Property
-
No depreciation
Plant & machinery
-
13%
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.

 
2.7

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

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 2 (2023 - 2).

Page 4

 
GAMRIE FARMS LIMITED
 

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

4.


TANGIBLE FIXED ASSETS





Heritable Property
Plant & machinery
Total

£
£
£



COST OR VALUATION


At 1 April 2023
2,210,250
236,000
2,446,250


Additions
1,879,409
-
1,879,409



At 31 March 2024

4,089,659
236,000
4,325,659



DEPRECIATION


At 1 April 2023
-
29,500
29,500


Charge for the year on owned assets
-
25,813
25,813



At 31 March 2024

-
55,313
55,313



NET BOOK VALUE



At 31 March 2024
4,089,659
180,687
4,270,346



At 31 March 2023
2,210,250
206,500
2,416,750


5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



COST OR VALUATION


At 1 April 2023
300
-
300


Additions
-
18,850
18,850



At 31 March 2024
300
18,850
19,150




Page 5

 
GAMRIE FARMS LIMITED
 

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

6.


DEBTORS


2024
2023
£
£

DUE AFTER MORE THAN ONE YEAR

Other debtors
2,800,000
2,090,000

2,800,000
2,090,000

DUE WITHIN ONE YEAR

Other debtors
150,692
192,815

2,950,692
2,282,815



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
1,800,000
-

Obligations under finance lease and hire purchase contracts
40,000
40,000

Other creditors
808,636
663,810

Accruals and deferred income
650
650

2,649,286
704,460


The following liabilities were secured:

2024
2023
£
£



Hire purchase obligations
40,000
40,000

40,000
40,000

Details of security provided:

The hire purchase creditors are secured against the underlying asset purchased.

Page 6

 
GAMRIE FARMS LIMITED
 

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

8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
80,000
120,000

80,000
120,000


The following liabilities were secured:

2024
2023
£
£



Hire purchase obligations
80,000
120,000

80,000
120,000

Details of security provided:

The hire purchase creditors are secured against the underlying asset purchased.


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



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



Page 7