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Company No: SC339712 (Scotland)

NAYLOR FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 MAY 2023 TO 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

NAYLOR FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MAY 2023 TO 31 MARCH 2024

Contents

NAYLOR FARMS LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
NAYLOR FARMS LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 31.03.2024 30.04.2023
£ £
Fixed assets
Investments 3 510,829 494,250
510,829 494,250
Current assets
Cash at bank and in hand 34 34
34 34
Creditors: amounts falling due within one year 4 ( 55,494) ( 55,710)
Net current liabilities (55,460) (55,676)
Total assets less current liabilities 455,369 438,574
Net assets 455,369 438,574
Capital and reserves
Called-up share capital 5 200 200
Profit and loss account 455,169 438,374
Total shareholders' funds 455,369 438,574

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

Directors' responsibilities:

The financial statements of Naylor Farms Limited (registered number: SC339712) were approved and authorised for issue by the Board of Directors on 24 November 2024. They were signed on its behalf by:

Frederick Paul Naylor
Director
Megan Elizabeth Naylor
Director
NAYLOR FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MAY 2023 TO 31 MARCH 2024
NAYLOR FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MAY 2023 TO 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Naylor Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Overton Farm, Memsie, Fraserburgh, AB43 7AP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements are prepared for a period of 11 months (2023 - 12 months) and therefore prior year amounts presented in the financial statements are not entirely comparable.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
01.05.2023 to
31.03.2024
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 May 2023 494,250 494,250
Share of partnership profit 22,653 22,653
Drawings (6,074) (6,074)
At 31 March 2024 510,829 510,829
Carrying value at 31 March 2024 510,829 510,829
Carrying value at 30 April 2023 494,250 494,250

4. Creditors: amounts falling due within one year

31.03.2024 30.04.2023
£ £
Taxation and social security 3,941 4,232
Other creditors 51,553 51,478
55,494 55,710

5. Called-up share capital

31.03.2024 30.04.2023
£ £
Allotted, called-up and fully-paid
200 A ordinary shares of £ 1.00 each 200 200