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REGISTERED NUMBER: SC401300 (Scotland)











































Chirnside Growers Limited

Unaudited Financial Statements

for the Year Ended 31st March 2024






Chirnside Growers Limited (Registered number: SC401300)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Chirnside Growers Limited

Company Information
for the year ended 31st March 2024







Director: R C Cowe





Registered office: Oldcastles
Chirnside
Berwickshire
TD11 3LF





Registered number: SC401300 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Chirnside Growers Limited (Registered number: SC401300)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 360,651 410,721

Current assets
Stocks 467,033 312,176
Debtors 5 430,855 281,111
Cash at bank 1,011,062 633,406
1,908,950 1,226,693
Creditors
Amounts falling due within one year 6 298,917 89,348
Net current assets 1,610,033 1,137,345
Total assets less current liabilities 1,970,684 1,548,066

Provisions for liabilities 47,799 43,134
Net assets 1,922,885 1,504,932

Capital and reserves
Called up share capital 100,000 100,000
Retained earnings 1,822,885 1,404,932
Shareholders' funds 1,922,885 1,504,932

Chirnside Growers Limited (Registered number: SC401300)

Balance Sheet - continued
31st March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th November 2024 and were signed by:





R C Cowe - Director


Chirnside Growers Limited (Registered number: SC401300)

Notes to the Financial Statements
for the year ended 31st March 2024

1. Statutory information

Chirnside Growers 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 10% on cost and 4% on cost
Plant and machinery - 20% on reducing balance
Potato boxes - 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock represents unsold potatoes at the year end. Potatoes that have been sold on a contract at the year end are valued at net realisable value. All remaining stock is valued at cost. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in selling the potatoes.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, other loans and trade creditors.

Trade debtors, other loans and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss in the statement of income and retained earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Chirnside Growers Limited (Registered number: SC401300)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Going concern
The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4. Tangible fixed assets
Land and Plant and Potato
buildings machinery boxes Totals
£    £    £    £   
Cost
At 1st April 2023
and 31st March 2024 376,758 465,921 168,480 1,011,159
Depreciation
At 1st April 2023 181,526 250,432 168,480 600,438
Charge for year 17,124 32,946 - 50,070
At 31st March 2024 198,650 283,378 168,480 650,508
Net book value
At 31st March 2024 178,108 182,543 - 360,651
At 31st March 2023 195,232 215,489 - 410,721

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 404,914 271,111
Other debtors 25,941 10,000
430,855 281,111

Chirnside Growers Limited (Registered number: SC401300)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 141,379 44,419
Taxation and social security 157,538 44,929
298,917 89,348