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REGISTERED NUMBER: SC323936 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

ARDFERN LIMITED

ARDFERN LIMITED (REGISTERED NUMBER: SC323936)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ARDFERN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: J M Telford



SECRETARY: P Macleod



REGISTERED OFFICE: Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG



REGISTERED NUMBER: SC323936 (Scotland)



ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG



TRADING ADDRESS: Unit C
Floors St. Industrial Estate
Floors Street
Johnstone
PA5 8PE

ARDFERN LIMITED (REGISTERED NUMBER: SC323936)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,130 44,511

CURRENT ASSETS
Debtors 5 139,709 292,024
Cash at bank and in hand 431,775 210,084
571,484 502,108
CREDITORS
Amounts falling due within one year 6 131,438 120,965
NET CURRENT ASSETS 440,046 381,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

482,176

425,654

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 481,176 424,654
SHAREHOLDERS' FUNDS 482,176 425,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 23 October 2024 and were signed by:





J M Telford - Director


ARDFERN LIMITED (REGISTERED NUMBER: SC323936)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Ardfern Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents income from the operation of an independent school net of value added tax. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenants improvements - 33.33% on cost
Equipment - 20% on cost
Fixtures & fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 balance sheet date.

ARDFERN LIMITED (REGISTERED NUMBER: SC323936)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Tenants Fixtures
improvements Equipment & fittings
£    £    £   
COST
At 1 July 2022 27,350 24,252 35,753
Additions - 11,125 -
At 30 June 2023 27,350 35,377 35,753
DEPRECIATION
At 1 July 2022 27,350 23,308 35,046
Charge for year - 823 532
At 30 June 2023 27,350 24,131 35,578
NET BOOK VALUE
At 30 June 2023 - 11,246 175
At 30 June 2022 - 944 707

ARDFERN LIMITED (REGISTERED NUMBER: SC323936)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 205,416 58,319 351,090
Additions - - 11,125
At 30 June 2023 205,416 58,319 362,215
DEPRECIATION
At 1 July 2022 164,626 56,249 306,579
Charge for year 10,197 1,954 13,506
At 30 June 2023 174,823 58,203 320,085
NET BOOK VALUE
At 30 June 2023 30,593 116 42,130
At 30 June 2022 40,790 2,070 44,511

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 129,952 283,109
Other debtors 9,757 8,915
139,709 292,024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 38,947 31,222
Taxation and social security 63,195 56,410
Other creditors 29,296 33,333
131,438 120,965

7. LEASING AGREEMENTS

At the year end the company had total commitments under operating leases of £14,425 (2022: £14,300).

8. SECURED DEBTS

AIB UK PLC have a floating charge over the assets of the company.
Clydesdale Bank PLC have a floating charge over the assets of the company.

ARDFERN LIMITED (REGISTERED NUMBER: SC323936)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
J M Telford
Balance outstanding at start of year 13,833 11,861
Amounts advanced 2,357 4,444
Amounts repaid (5,906 ) (2,472 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,284 13,833

Director's loans are interest free and repayable on demand.