Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity3426truetruefalse SC662363 2023-04-01 2024-03-31 SC662363 2022-04-01 2023-03-31 SC662363 2024-03-31 SC662363 2023-03-31 SC662363 c:Director1 2023-04-01 2024-03-31 SC662363 c:Director2 2023-04-01 2024-03-31 SC662363 c:Director3 2023-04-01 2024-03-31 SC662363 c:RegisteredOffice 2023-04-01 2024-03-31 SC662363 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 SC662363 d:Buildings d:LongLeaseholdAssets 2024-03-31 SC662363 d:Buildings d:LongLeaseholdAssets 2023-03-31 SC662363 d:PlantMachinery 2023-04-01 2024-03-31 SC662363 d:PlantMachinery 2024-03-31 SC662363 d:PlantMachinery 2023-03-31 SC662363 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC662363 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC662363 d:Goodwill 2023-04-01 2024-03-31 SC662363 d:Goodwill 2024-03-31 SC662363 d:Goodwill 2023-03-31 SC662363 d:ComputerSoftware 2024-03-31 SC662363 d:ComputerSoftware 2023-03-31 SC662363 d:CurrentFinancialInstruments 2024-03-31 SC662363 d:CurrentFinancialInstruments 2023-03-31 SC662363 d:Non-currentFinancialInstruments 2024-03-31 SC662363 d:Non-currentFinancialInstruments 2023-03-31 SC662363 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC662363 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC662363 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC662363 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC662363 d:ShareCapital 2024-03-31 SC662363 d:ShareCapital 2023-03-31 SC662363 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC662363 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC662363 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC662363 c:OrdinaryShareClass1 2024-03-31 SC662363 c:OrdinaryShareClass1 2023-03-31 SC662363 c:OrdinaryShareClass2 2023-04-01 2024-03-31 SC662363 c:OrdinaryShareClass2 2024-03-31 SC662363 c:OrdinaryShareClass2 2023-03-31 SC662363 c:FRS102 2023-04-01 2024-03-31 SC662363 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC662363 c:FullAccounts 2023-04-01 2024-03-31 SC662363 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC662363 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 SC662363 d:ComputerSoftware d:OwnedIntangibleAssets 2023-04-01 2024-03-31 SC662363 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC662363










FOREST FARM DAIRY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
FOREST FARM DAIRY LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr A R Willis 
Mrs E A Willis 
Mr W E Willis 




REGISTERED NUMBER
SC662363



REGISTERED OFFICE
Mains Of Glasgoforest
Glasgoforest

Kinellar

Aberdeenshire

AB21 0SH




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
FOREST FARM DAIRY LIMITED
REGISTERED NUMBER: SC662363

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 5 
12,000
14,000

Tangible assets
 4 
615,543
588,835

  
627,543
602,835

CURRENT ASSETS
  

Stocks
  
71,357
77,200

Debtors: amounts falling due within one year
 6 
29,025
37,981

Cash at bank and in hand
  
10,426
470

  
110,808
115,651

Creditors: amounts falling due within one year
 7 
(292,841)
(320,866)

NET CURRENT LIABILITIES
  
 
 
(182,033)
 
 
(205,215)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
445,510
397,620

Creditors: amounts falling due after more than one year
 8 
(152,662)
(153,217)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(146,188)
(141,492)

  
 
 
(146,188)
 
 
(141,492)

NET ASSETS
  
146,660
102,911


CAPITAL AND RESERVES
  

Called up share capital 
  
100
100

Profit and loss account
  
146,560
102,811

  
146,660
102,911

Page 1

 
FOREST FARM DAIRY LIMITED
REGISTERED NUMBER: SC662363

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 July 2024.




Mr A R Willis
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FOREST FARM DAIRY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Forest Farm Dairy Limited is a private company, limited by shares, incorporated in Scotland with registration number SC662363. The registered office is Mains Of Glasgoforest, Glasgoforest, Kinellar, Aberdeenshire, Scotland, AB21 0SH.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
FOREST FARM DAIRY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

CURRENT AND DEFERRED TAXATION

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

INTANGIBLE ASSETS

GOODWILL

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

OTHER INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Goodwill
-
10%
straight line
Website
-
33%
straight line
Page 4

 
FOREST FARM DAIRY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Property Improvements
-
4.0%
straight line
Plant and machinery
-
12.5%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 34 (2023 - 26).

Page 5

 
FOREST FARM DAIRY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


INTANGIBLE ASSETS




Website
Goodwill
Total

£
£
£



COST


At 1 April 2023
1,815
20,000
21,815



At 31 March 2024

1,815
20,000
21,815



AMORTISATION


At 1 April 2023
1,815
6,000
7,815


Charge for the year on owned assets
-
2,000
2,000



At 31 March 2024

1,815
8,000
9,815



NET BOOK VALUE



At 31 March 2024
-
12,000
12,000



At 31 March 2023
-
14,000
14,000




5.


TANGIBLE FIXED ASSETS





Property improvements
Plant and machinery
Total

£
£
£



COST OR VALUATION


At 1 April 2023
272,534
433,403
705,937


Additions
-
124,186
124,186


Disposals
-
(34,950)
(34,950)



At 31 March 2024

272,534
522,639
795,173



DEPRECIATION


At 1 April 2023
10,895
106,207
117,102


Charge for the year on owned assets
10,468
52,060
62,528



At 31 March 2024

21,363
158,267
179,630



NET BOOK VALUE



At 31 March 2024
251,171
364,372
615,543



At 31 March 2023
261,639
327,196
588,835

Page 6

 
FOREST FARM DAIRY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


DEBTORS

2024
2023
£
£


Trade debtors
593
19,310

Other debtors
28,432
18,671

29,025
37,981



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank overdrafts
93,111
94,129

Trade creditors
27,895
104,533

Other creditors
127,973
83,337

Other loans
6,653
7,857

Bank loans
13,146
12,617

Accruals and deferred income
8,565
7,325

Net obligations under finance lease and hire purchase contracts
15,498
11,068

292,841
320,866



8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
58,024
71,700

Other loans
63,979
63,840

Net obligations under finance leases and hire purchase contracts
30,659
17,677

152,662
153,217



9.


SHARE CAPITAL

2024
2023
£
£
AUTHORISED, ALLOTTED, CALLED UP AND FULLY PAID



80 (2023 - 80) Ordinary A shares of £1.00 each
80
80
20 (2023 - 20) Ordinary B shares of £1.00 each
20
20

100

100



Page 7