Derculich (Strathtay) Limited SC174706 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is farming Digita Accounts Production Advanced 6.30.9574.0 true true SC174706 2023-04-01 2024-03-31 SC174706 2024-03-31 SC174706 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 SC174706 core:CurrentFinancialInstruments 2024-03-31 SC174706 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC174706 core:FurnitureFittingsToolsEquipment 2024-03-31 SC174706 core:LandBuildings 2024-03-31 SC174706 core:MotorVehicles 2024-03-31 SC174706 bus:SmallEntities 2023-04-01 2024-03-31 SC174706 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC174706 bus:FullAccounts 2023-04-01 2024-03-31 SC174706 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC174706 bus:RegisteredOffice 2023-04-01 2024-03-31 SC174706 bus:CompanySecretary1 2023-04-01 2024-03-31 SC174706 bus:Director1 2023-04-01 2024-03-31 SC174706 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 SC174706 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC174706 core:IntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 SC174706 core:Buildings 2023-04-01 2024-03-31 SC174706 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 SC174706 core:LandBuildings 2023-04-01 2024-03-31 SC174706 core:MotorVehicles 2023-04-01 2024-03-31 SC174706 countries:Scotland 2023-04-01 2024-03-31 SC174706 2023-03-31 SC174706 core:FurnitureFittingsToolsEquipment 2023-03-31 SC174706 core:LandBuildings 2023-03-31 SC174706 core:MotorVehicles 2023-03-31 SC174706 2022-04-01 2023-03-31 SC174706 2023-03-31 SC174706 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 SC174706 core:CurrentFinancialInstruments 2023-03-31 SC174706 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 SC174706 core:FurnitureFittingsToolsEquipment 2023-03-31 SC174706 core:LandBuildings 2023-03-31 SC174706 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC174706

Derculich (Strathtay) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Derculich (Strathtay) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Derculich (Strathtay) Limited

Company Information

Director

W N Jackson

Company secretary

R M Miles

Registered office

Derculich House
By Strathtay
Pitlochry
Perthshire
PH9 0LR

 

Derculich (Strathtay) Limited

(Registration number: SC174706)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

605,867

585,973

Investments

5

25

25

 

605,892

585,998

Current assets

 

Stocks

6

185,315

166,360

Debtors

7

782,441

1,156,558

Cash at bank and in hand

 

941,810

284,485

 

1,909,566

1,607,403

Creditors: Amounts falling due within one year

8

(815,485)

(710,541)

Net current assets

 

1,094,081

896,862

Total assets less current liabilities

 

1,699,973

1,482,860

Provisions for liabilities

(16,612)

(10,309)

Net assets

 

1,683,361

1,472,551

Capital and reserves

 

Called up share capital

9

1,000

1,000

Share premium reserve

495,039

495,039

Retained earnings

1,187,322

976,512

Shareholders' funds

 

1,683,361

1,472,551

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 October 2024
 

.........................................
W N Jackson
Director

 

Derculich (Strathtay) Limited

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

1

General information

The company is a private company limited by share capital incorporated in Scotland and the company registration number is SC174706.

The address of its registered office is:
Derculich House
By Strathtay
Pitlochry
Perthshire
PH9 0LR

These financial statements cover the individual entity Derculich (Strathtay) Limited.

These financial statements were authorised for issue by the director on 30 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Basis Payment Scheme is received in respect of calendar years. Receipt is contingent upon meeting certain eligiblity criteria. Once the criteria have been met the income is recognised on a time apportionment basis over the calendar year to which it relates.

 

Derculich (Strathtay) Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings and improvements to property

5% reducing balance basis

Plant and machinery

15% reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Entitlements

3 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

The basis of valuation is as follows:-

Raw materials and consumables are stated at the lower of cost or net realisable value.

Livestock is valued at the lower of cost or net reallisable value.

The basis of valuation is consistent with previous years.

 

Derculich (Strathtay) Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all the employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recoginised as employee benefit expense when they are due. If contribution payments exceed the contribuition due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 4 (2023 - 4).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

734,173

271,724

27,724

1,033,621

Additions

-

38,302

-

38,302

Disposals

-

(9,788)

(12,532)

(22,320)

At 31 March 2024

734,173

300,238

15,192

1,049,603

Depreciation

At 1 April 2023

189,436

230,729

27,483

447,648

Charge for the year

5,317

9,405

60

14,782

Eliminated on disposal

-

(6,163)

(12,531)

(18,694)

At 31 March 2024

194,753

233,971

15,012

443,736

Carrying amount

At 31 March 2024

539,420

66,267

180

605,867

At 31 March 2023

544,737

40,995

241

585,973

5

Investments

2024
£

2023
£

Interest in other participating interests

25

25

The company's investments at the Balance Sheet date are as follows:
Participating interest - Beinn Eagagach Hydro LLP
Nature of business - Hydro scheme
Holding - 25%

 

Derculich (Strathtay) Limited

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

6

Stocks

2024
£

2023
£

Raw materials and consumables

8,340

12,170

Other inventories

176,975

154,190

185,315

166,360

 

Derculich (Strathtay) Limited

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

7

Debtors

Current

2024
£

2023
£

Trade debtors

10,882

14,023

Prepayments

16,946

2,585

Other debtors

754,613

1,139,950

 

782,441

1,156,558

Debtors include £737,008 (2023: £1,133,983) due after more than one year.

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

19,880

10,296

Taxation and social security

 

77,714

35,414

Other creditors

 

702,607

651,595

Accruals and deferred income

 

15,284

13,236

 

815,485

710,541

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

         

10

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

702,607

651,595