Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseNo description of principal activity11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC442902 2023-04-01 2024-03-31 SC442902 2022-06-01 2023-03-31 SC442902 2024-03-31 SC442902 2023-03-31 SC442902 c:CompanySecretary1 2023-04-01 2024-03-31 SC442902 c:Director1 2023-04-01 2024-03-31 SC442902 c:Director1 2024-03-31 SC442902 c:Director2 2023-04-01 2024-03-31 SC442902 c:Director2 2024-03-31 SC442902 c:RegisteredOffice 2023-04-01 2024-03-31 SC442902 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 SC442902 d:FreeholdInvestmentProperty 2024-03-31 SC442902 d:FreeholdInvestmentProperty 2023-03-31 SC442902 d:CurrentFinancialInstruments 2024-03-31 SC442902 d:CurrentFinancialInstruments 2023-03-31 SC442902 d:Non-currentFinancialInstruments 2024-03-31 SC442902 d:Non-currentFinancialInstruments 2023-03-31 SC442902 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC442902 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC442902 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC442902 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC442902 d:ShareCapital 2024-03-31 SC442902 d:ShareCapital 2023-03-31 SC442902 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC442902 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC442902 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC442902 c:OrdinaryShareClass1 2024-03-31 SC442902 c:OrdinaryShareClass1 2023-03-31 SC442902 c:FRS102 2023-04-01 2024-03-31 SC442902 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC442902 c:FullAccounts 2023-04-01 2024-03-31 SC442902 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC442902 2 2023-04-01 2024-03-31 SC442902 4 2023-04-01 2024-03-31 SC442902 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC442902










THORNTON FARMING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
THORNTON FARMING LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr D J Hunter (resigned 31 December 2023)
Mr D H Hunter (appointed 31 December 2023)




COMPANY SECRETARY
Mrs J M Hunter



REGISTERED NUMBER
SC442902



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





 
THORNTON FARMING LIMITED
REGISTERED NUMBER: SC442902

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

FIXED ASSETS
  

Investment property
 4 
184,392
258,260

  
184,392
258,260

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
5,365
5,063

Cash at bank and in hand
  
23,233
1,137

  
28,598
6,200

Creditors: amounts falling due within one year
 6 
(18,433)
(150,783)

NET CURRENT ASSETS/(LIABILITIES)
  
 
 
10,165
 
 
(144,583)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
194,557
113,677

Creditors: amounts falling due after more than one year
 7 
(160,000)
(160,000)

  

NET ASSETS/(LIABILITIES)
  
34,557
(46,323)


CAPITAL AND RESERVES
  

Called up share capital 
 8 
1
1

Profit and loss account
  
34,556
(46,324)

  
34,557
(46,323)


Page 1

 
THORNTON FARMING LIMITED
REGISTERED NUMBER: SC442902

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 profit and loss account 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 18 September 2024.




Mr D H Hunter
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
THORNTON FARMING LIMITED
 

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

1.


GENERAL INFORMATION

The company Thornton Farming Limited is limited by shares and incorporated in Scotland. The address of the regsitered office is Westby, 64 West High Street, Forfar, Tayside, DD8 1BJ and the company registration number is SC442902, The place of business is Thornton Farm, Rosewell, Midlothian EH24 9EF.
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 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

GOING CONCERN

The accounts have been prepared on the going concern basis. The company has net liabilities and Thornton Farming Limited is dependant on the continuing support of its director who has provided a loan to the company. It is envisaged that this support will continue for the foreseeable future.

 
2.3

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:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

INTEREST INCOME

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

Page 3

 
THORNTON FARMING LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
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.

 
2.6

EXCEPTIONAL ITEMS

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

  
2.7

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.8

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 year was 1 (2023 - 1).

Page 4

 
THORNTON FARMING LIMITED
 

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

4.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 April 2023
258,260


Disposals
(73,868)



AT 31 MARCH 2024
184,392

The 2024 valuations were made by  the director, on an open market value for existing use basis.







5.


DEBTORS

2024
2023
£
£


Other debtors
2,000
2,002

Prepayments and accrued income
3,365
3,061

5,365
5,063



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
1,400
1,400

Other taxation and social security
16,272
-

Other creditors
561
149,183

Accruals and deferred income
200
200

18,433
150,783


The above bank loan is secured over the assets of the company.

Page 5

 
THORNTON FARMING LIMITED
 

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

7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
160,000
160,000

160,000
160,000


The above bank loan is secured over the assets of the company.


8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2023 - 1) Ordinary share of £1
1
1



Page 6