Company registration number SC354125 (Scotland)
HOME FARM BREAKS (SCOTLAND) LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
HOME FARM BREAKS (SCOTLAND) LTD.
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 5
HOME FARM BREAKS (SCOTLAND) LTD.
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF HOME FARM BREAKS (SCOTLAND) LTD.
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Home Farm Breaks (Scotland) Ltd. for the year ended 31 January 2024 set out on pages 2 to 5 from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants of Scotland we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the board of directors of Home Farm Breaks (Scotland) Ltd., as a body, in accordance with the terms of our engagement letter dated. Our work has been undertaken solely to prepare for your approval the financial statements of Home Farm Breaks (Scotland) Ltd. and state those matters that we have agreed to state to the board of directors of Home Farm Breaks (Scotland) Ltd., as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Home Farm Breaks (Scotland) Ltd. and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Home Farm Breaks (Scotland) Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Home Farm Breaks (Scotland) Ltd.. You consider that Home Farm Breaks (Scotland) Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Home Farm Breaks (Scotland) Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MMG Chartered Accountants
29 October 2024
Chapelshade House
78-84 Bell Street
Dundee
Scotland
DD1 1RQ
HOME FARM BREAKS (SCOTLAND) LTD.
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
91,281
107,429
Current assets
-
-
Creditors: amounts falling due within one year
4
(294)
(131,304)
Net current liabilities
(294)
(131,304)
Total assets less current liabilities
90,987
(23,875)
Creditors: amounts falling due after more than one year
5
(195,261)
(235,875)
Provisions for liabilities
-
0
(178)
Net liabilities
(104,274)
(259,928)
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
(104,277)
(259,931)
Total equity
(104,274)
(259,928)

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 October 2024 and are signed on its behalf by:
Mr S S R Baptie
Director
Company registration number SC354125 (Scotland)
HOME FARM BREAKS (SCOTLAND) LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Home Farm Breaks (Scotland) Ltd. is a private company limited by shares incorporated in Scotland. The registered office is Chapelshade House, 78-84 Bell Street, Dundee, Scotland, DD1 1HN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% on cost
Computers equipment
33% on cost
Improvements to property
5% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HOME FARM BREAKS (SCOTLAND) LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.4
Government grants

Government grants are written off over 21 years, the period of the contract.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
HOME FARM BREAKS (SCOTLAND) LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
3
Tangible fixed assets
Plant and machinery
Computers equipment
Improvements to property
Total
£
£
£
£
Cost
At 1 February 2023
56,884
3,084
304,249
364,217
Disposals
(42,083)
(3,084)
-
0
(45,167)
At 31 January 2024
14,801
-
0
304,249
319,050
Depreciation and impairment
At 1 February 2023
55,948
3,084
197,756
256,788
Depreciation charged in the year
936
-
0
15,212
16,148
Eliminated in respect of disposals
(42,083)
(3,084)
-
0
(45,167)
At 31 January 2024
14,801
-
0
212,968
227,769
Carrying amount
At 31 January 2024
-
0
-
0
91,281
91,281
At 31 January 2023
936
-
0
106,493
107,429
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other borrowings
-
0
13,875
Government grants
-
0
9,980
Other creditors
-
0
107,449
Accruals and deferred income
294
-
0
294
131,304
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
195,261
235,875
2024-01-312023-02-01false29 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr S S R BaptieMr A M R BaptieMr A M R BaptiefalsefalseSC3541252023-02-012024-01-31SC3541252024-01-31SC3541252023-01-31SC354125core:PlantMachinery2024-01-31SC354125core:ComputerEquipment2024-01-31SC354125core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-01-31SC354125core:PlantMachinery2023-01-31SC354125core:ComputerEquipment2023-01-31SC354125core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-01-31SC354125core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-31SC354125core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-31SC354125core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-31SC354125core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-31SC354125core:CurrentFinancialInstruments2024-01-31SC354125core:CurrentFinancialInstruments2023-01-31SC354125core:ShareCapital2024-01-31SC354125core:ShareCapital2023-01-31SC354125core:RetainedEarningsAccumulatedLosses2024-01-31SC354125core:RetainedEarningsAccumulatedLosses2023-01-31SC354125bus:Director12023-02-012024-01-31SC354125core:PlantMachinery2023-02-012024-01-31SC354125core:ComputerEquipment2023-02-012024-01-31SC354125core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-02-012024-01-31SC3541252022-02-012023-01-31SC354125core:PlantMachinery2023-01-31SC354125core:ComputerEquipment2023-01-31SC354125core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-01-31SC3541252023-01-31SC354125core:Non-currentFinancialInstruments2024-01-31SC354125core:Non-currentFinancialInstruments2023-01-31SC354125bus:PrivateLimitedCompanyLtd2023-02-012024-01-31SC354125bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-31SC354125bus:FRS1022023-02-012024-01-31SC354125bus:AuditExempt-NoAccountantsReport2023-02-012024-01-31SC354125bus:Director22023-02-012024-01-31SC354125bus:CompanySecretary12023-02-012024-01-31SC354125bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP