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REGISTERED NUMBER: SC027762 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

M.A. Blyth Limited

M.A. Blyth Limited (Registered number: SC027762)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


M.A. Blyth Limited (Registered number: SC027762)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 44,728 44,728
Tangible assets 5 1,242,923 1,276,515
Investments 6 4,823 4,823
1,292,474 1,326,066

CURRENT ASSETS
Stocks 161,250 165,717
Debtors 7 18,400 38,938
Cash at bank 134,517 137,663
314,167 342,318
CREDITORS
Amounts falling due within one year 8 (80,209 ) (110,910 )
NET CURRENT ASSETS 233,958 231,408
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,526,432

1,557,474

CREDITORS
Amounts falling due after more than one
year

9

(29,250

)

(43,875

)

PROVISIONS FOR LIABILITIES (33,066 ) (38,037 )
NET ASSETS 1,464,116 1,475,562

CAPITAL AND RESERVES
Called up share capital 8,000 8,000
Revaluation reserve 62,625 66,039
Retained earnings 1,393,491 1,401,523
SHAREHOLDERS' FUNDS 1,464,116 1,475,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M.A. Blyth Limited (Registered number: SC027762)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:




Bryan James Matthew Duff - Director



Janet Margaret Duff - Director


M.A. Blyth Limited (Registered number: SC027762)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

M.A. Blyth Limited is a private company, limited by shares, domiciled in Scotland, registration number SC027762. The registered office is Unit 5, Gateway Business Park, Beancross Road, Grangemouth, Stirlingshire, FK3 8WX.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

Turnover
The turnover shown in the Profit and Loss Account represents amounts receivable during the year in relation to trading as a farm, excluding Value Added Tax. Income is recognised at the point the goods or services are provided.

Intangible assets
Basic payments are initially measured at cost. Basic payments are not amortised as the directors consider their value not to be decreasing at this time with the current subsidy system guaranteed for 1 more year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost for steading & property and 0% on farm land
Plant and machinery etc - 25% on reducing balance and 10% on cost

No depreciation is provided in relation to farm land, as it is maintained in a good state of repair and is increasing in value.

Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental cost of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible assets are depreciated to nil value.

Stocks
Stock is valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


M.A. Blyth Limited (Registered number: SC027762)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the trading, profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 44,728
NET BOOK VALUE
At 31 March 2024 44,728
At 31 March 2023 44,728

M.A. Blyth Limited (Registered number: SC027762)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Other
intangible
assets
£   
Valuation in 2018 44,728

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 1,100,000 325,466 1,425,466
Additions - 5,400 5,400
Disposals - (150 ) (150 )
At 31 March 2024 1,100,000 330,716 1,430,716
DEPRECIATION
At 1 April 2023 27,184 121,767 148,951
Charge for year 6,796 32,136 38,932
Eliminated on disposal - (90 ) (90 )
At 31 March 2024 33,980 153,813 187,793
NET BOOK VALUE
At 31 March 2024 1,066,020 176,903 1,242,923
At 31 March 2023 1,072,816 203,699 1,276,515

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 - (99,081 ) (99,081 )
Cost 1,100,000 429,797 1,529,797
1,100,000 330,716 1,430,716

If plant and tractors had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 416,414 411,164
Aggregate depreciation 244,521 213,324

Plant and tractors were valued on an open market basis on 31 October 2017 by Lawrie & Symington .

M.A. Blyth Limited (Registered number: SC027762)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 April 2023 66,900
Transfer to ownership (8,400 )
At 31 March 2024 58,500
DEPRECIATION
At 1 April 2023 6,812
Charge for year 6,690
Transfer to ownership (1,802 )
At 31 March 2024 11,700
NET BOOK VALUE
At 31 March 2024 46,800
At 31 March 2023 60,088

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 4,823
NET BOOK VALUE
At 31 March 2024 4,823
At 31 March 2023 4,823

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 13,174 8,773
Other debtors 5,226 30,165
18,400 38,938

M.A. Blyth Limited (Registered number: SC027762)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 14,625 16,714
Trade creditors 23,578 61,206
Amounts owed to group undertakings 24,380 24,380
Taxation and social security 9,301 485
Other creditors 8,325 8,125
80,209 110,910

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 29,250 43,875

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 43,875 60,589

Balances due on hire purchase agreements are secured on the assets to which they relate.

11. RELATED PARTY DISCLOSURES

Rent was paid during the year to a company owned by a family member of the directors of £8,500 (2023 £8,500)

12. ULTIMATE PARENT COMPANY

Lochfield Ltd is registered in Scotland under registration number SC580822. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, FK3 8WX.