IRIS Accounts Production v24.3.0.553 09398712 Board of Directors 2.3.23 1.3.24 1.3.24 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093987122023-03-01093987122024-03-01093987122023-03-022024-03-01093987122022-03-01093987122022-03-022023-03-01093987122023-03-0109398712ns15:EnglandWales2023-03-022024-03-0109398712ns14:PoundSterling2023-03-022024-03-0109398712ns10:Director12023-03-022024-03-0109398712ns10:PrivateLimitedCompanyLtd2023-03-022024-03-0109398712ns10:SmallEntities2023-03-022024-03-0109398712ns10:AuditExempt-NoAccountantsReport2023-03-022024-03-0109398712ns10:SmallCompaniesRegimeForDirectorsReport2023-03-022024-03-0109398712ns10:SmallCompaniesRegimeForAccounts2023-03-022024-03-0109398712ns10:FullAccounts2023-03-022024-03-0109398712ns10:Director22023-03-022024-03-0109398712ns10:RegisteredOffice2023-03-022024-03-0109398712ns5:CurrentFinancialInstruments2024-03-0109398712ns5:CurrentFinancialInstruments2023-03-0109398712ns5:Non-currentFinancialInstruments2024-03-0109398712ns5:Non-currentFinancialInstruments2023-03-0109398712ns5:ShareCapital2024-03-0109398712ns5:ShareCapital2023-03-0109398712ns5:RetainedEarningsAccumulatedLosses2024-03-0109398712ns5:RetainedEarningsAccumulatedLosses2023-03-0109398712ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-03-022024-03-0109398712ns5:LeaseholdImprovements2023-03-022024-03-0109398712ns5:PlantMachinery2023-03-022024-03-0109398712ns5:FurnitureFittings2023-03-022024-03-0109398712ns5:MotorVehicles2023-03-022024-03-0109398712ns5:ComputerEquipment2023-03-022024-03-0109398712ns5:LandBuildings2023-03-0109398712ns5:LeaseholdImprovements2023-03-0109398712ns5:PlantMachinery2023-03-0109398712ns5:LandBuildings2023-03-022024-03-0109398712ns5:LandBuildings2024-03-0109398712ns5:LeaseholdImprovements2024-03-0109398712ns5:PlantMachinery2024-03-0109398712ns5:LandBuildings2023-03-0109398712ns5:LeaseholdImprovements2023-03-0109398712ns5:PlantMachinery2023-03-0109398712ns5:FurnitureFittings2023-03-0109398712ns5:MotorVehicles2023-03-0109398712ns5:ComputerEquipment2023-03-0109398712ns5:FurnitureFittings2024-03-0109398712ns5:MotorVehicles2024-03-0109398712ns5:ComputerEquipment2024-03-0109398712ns5:FurnitureFittings2023-03-0109398712ns5:MotorVehicles2023-03-0109398712ns5:ComputerEquipment2023-03-0109398712ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-03-0109398712ns5:LeasedAssetsHeldAsLesseens5:ComputerEquipment2023-03-0109398712ns5:LeasedAssetsHeldAsLessee2023-03-0109398712ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2024-03-0109398712ns5:LeasedAssetsHeldAsLesseens5:ComputerEquipment2024-03-0109398712ns5:LeasedAssetsHeldAsLessee2024-03-0109398712ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-03-0109398712ns5:LeasedAssetsHeldAsLesseens5:ComputerEquipment2023-03-0109398712ns5:LeasedAssetsHeldAsLessee2023-03-0109398712ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-0109398712ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-0109398712ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-03-0109398712ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-03-0109398712ns5:Secured2024-03-0109398712ns5:Secured2023-03-01
REGISTERED NUMBER: 09398712 (England and Wales)















Unaudited Financial Statements for the Year Ended 1 March 2024

for

Pallinsburn Estate Limited

Pallinsburn Estate Limited (Registered number: 09398712)






Contents of the Financial Statements
for the Year Ended 1 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pallinsburn Estate Limited

Company Information
for the Year Ended 1 March 2024







DIRECTORS: Mrs J F Farr
G N Farr





REGISTERED OFFICE: Pallinsburn
Cornhill-on-Tweed
Northumberland
TD12 4SG





REGISTERED NUMBER: 09398712 (England and Wales)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Pallinsburn Estate Limited (Registered number: 09398712)

Statement of Financial Position
1 March 2024

1.3.24 1.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 957,437 1,092,535

CURRENT ASSETS
Inventories 322,293 285,788
Debtors 5 58,808 143,065
Cash at bank and in hand (263 ) 98,296
380,838 527,149
CREDITORS
Amounts falling due within one year 6 356,614 667,788
NET CURRENT ASSETS/(LIABILITIES) 24,224 (140,639 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

981,661

951,896

CREDITORS
Amounts falling due after more than one
year

7

(552,956

)

(603,370

)

PROVISIONS FOR LIABILITIES (169,500 ) (152,000 )
NET ASSETS 259,205 196,526

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 258,205 195,526
SHAREHOLDERS' FUNDS 259,205 196,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 1 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 1 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Pallinsburn Estate Limited (Registered number: 09398712)

Statement of Financial Position - continued
1 March 2024


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 Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





G N Farr - Director


Pallinsburn Estate Limited (Registered number: 09398712)

Notes to the Financial Statements
for the Year Ended 1 March 2024

1. STATUTORY INFORMATION

Pallinsburn Estate Limited is a private company, limited by shares , registered in England and Wales. 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Renewables - 25% on cost
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Combine - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Tractors & Forklifts - 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pallinsburn Estate Limited (Registered number: 09398712)

Notes to the Financial Statements - continued
for the Year Ended 1 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 NIL (2023 - 14 ).

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
to Plant and
Renewables property machinery
£    £    £   
COST
At 2 March 2023 504,438 503,900 497,145
Additions - - 61,014
Disposals - - (8,980 )
At 1 March 2024 504,438 503,900 549,179
DEPRECIATION
At 2 March 2023 149,001 388,308 281,491
Charge for year 20,038 50,390 39,035
Eliminated on disposal - - (4,762 )
At 1 March 2024 169,039 438,698 315,764
NET BOOK VALUE
At 1 March 2024 335,399 65,202 233,415
At 1 March 2023 355,437 115,592 215,654

Pallinsburn Estate Limited (Registered number: 09398712)

Notes to the Financial Statements - continued
for the Year Ended 1 March 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Tractors
Combine vehicles & Forklifts Totals
£    £    £    £   
COST
At 2 March 2023 133,000 130,836 458,168 2,227,487
Additions - - - 61,014
Disposals - - (15,700 ) (24,680 )
At 1 March 2024 133,000 130,836 442,468 2,263,821
DEPRECIATION
At 2 March 2023 36,838 39,791 239,523 1,134,952
Charge for year 9,616 22,761 42,147 183,987
Eliminated on disposal - - (7,793 ) (12,555 )
At 1 March 2024 46,454 62,552 273,877 1,306,384
NET BOOK VALUE
At 1 March 2024 86,546 68,284 168,591 957,437
At 1 March 2023 96,162 91,045 218,645 1,092,535

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
Combine & Forklifts Totals
£    £    £   
COST
At 2 March 2023
and 1 March 2024 133,000 125,168 258,168
DEPRECIATION
At 2 March 2023
and 1 March 2024 26,153 51,086 77,239
NET BOOK VALUE
At 1 March 2024 106,847 74,082 180,929
At 1 March 2023 106,847 74,082 180,929

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
1.3.24 1.3.23
£    £   
Trade debtors 23,569 31,779
Inter company - Carolsidehill Woodlands 17,037 17,037
Directors' current accounts - 72,129
VAT 18,202 22,120
58,808 143,065

Pallinsburn Estate Limited (Registered number: 09398712)

Notes to the Financial Statements - continued
for the Year Ended 1 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
1.3.24 1.3.23
£    £   
Bank loans and overdrafts 112,500 43,698
Hire purchase contracts 27,500 27,500
Trade creditors 90,698 104,372
Tax - 543
Social security and other taxes 3,706 -
Other creditors (49 ) 1,715
Directors' current accounts 117,209 485,215
Accrued expenses 5,050 4,745
356,614 667,788

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
1.3.24 1.3.23
£    £   
Bank loans - 1-2 years 504,831 527,745
Hire purchase contracts 48,125 75,625
552,956 603,370

8. SECURED DEBTS

The following secured debts are included within creditors:

1.3.24 1.3.23
£    £   
Bank overdraft 68,802 -

Bank security held by Royal Bank of Scotland with a fixed and floating charge over property or undertakings of the business.