Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-11-01falseNo description of principal activity44falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC060467 2023-11-01 2024-03-31 SC060467 2022-11-01 2023-10-31 SC060467 2024-03-31 SC060467 2023-10-31 SC060467 c:Director1 2023-11-01 2024-03-31 SC060467 c:Director2 2023-11-01 2024-03-31 SC060467 c:Director3 2023-11-01 2024-03-31 SC060467 c:Director4 2023-11-01 2024-03-31 SC060467 c:RegisteredOffice 2023-11-01 2024-03-31 SC060467 d:Buildings 2023-11-01 2024-03-31 SC060467 d:Buildings 2024-03-31 SC060467 d:Buildings 2023-10-31 SC060467 d:Buildings d:OwnedOrFreeholdAssets 2023-11-01 2024-03-31 SC060467 d:PlantMachinery 2023-11-01 2024-03-31 SC060467 d:PlantMachinery 2024-03-31 SC060467 d:PlantMachinery 2023-10-31 SC060467 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-01 2024-03-31 SC060467 d:MotorVehicles 2023-11-01 2024-03-31 SC060467 d:OtherPropertyPlantEquipment 2023-11-01 2024-03-31 SC060467 d:OtherPropertyPlantEquipment 2024-03-31 SC060467 d:OtherPropertyPlantEquipment 2023-10-31 SC060467 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-03-31 SC060467 d:OwnedOrFreeholdAssets 2023-11-01 2024-03-31 SC060467 d:CurrentFinancialInstruments 2024-03-31 SC060467 d:CurrentFinancialInstruments 2023-10-31 SC060467 d:Non-currentFinancialInstruments 2024-03-31 SC060467 d:Non-currentFinancialInstruments 2023-10-31 SC060467 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC060467 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 SC060467 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC060467 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 SC060467 d:ShareCapital 2024-03-31 SC060467 d:ShareCapital 2023-10-31 SC060467 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC060467 d:RetainedEarningsAccumulatedLosses 2023-10-31 SC060467 c:OrdinaryShareClass1 2023-11-01 2024-03-31 SC060467 c:OrdinaryShareClass1 2024-03-31 SC060467 c:OrdinaryShareClass1 2023-10-31 SC060467 c:FRS102 2023-11-01 2024-03-31 SC060467 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-03-31 SC060467 c:FullAccounts 2023-11-01 2024-03-31 SC060467 c:PrivateLimitedCompanyLtd 2023-11-01 2024-03-31 SC060467 e:PoundSterling 2023-11-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC060467










GOWANBANK FARMS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

 
GOWANBANK FARMS LIMITED
 

COMPANY INFORMATION


DIRECTORS
D B Henderson 
Mrs K O Henderson 
M J Pattullo 
Mrs C J Pattullo 




REGISTERED NUMBER
SC060467



REGISTERED OFFICE
Westby

64 West High Street

Forfar

Angus

DD8 1BJ




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
GOWANBANK FARMS LIMITED
REGISTERED NUMBER: SC060467

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
31 October
2024
2023
£
£

FIXED ASSETS
  

Tangible assets
 4 
2,956,953
2,995,110

  
2,956,953
2,995,110

CURRENT ASSETS
  

Stocks
  
769,241
794,650

Debtors
 5 
1,837,471
1,827,898

Cash at bank and in hand
  
424,499
2,588

  
3,031,211
2,625,136

Creditors: amounts falling due within one year
 6 
(700,527)
(863,210)

NET CURRENT ASSETS
  
 
 
2,330,684
 
 
1,761,926

TOTAL ASSETS LESS CURRENT LIABILITIES
  
5,287,637
4,757,036

Creditors: amounts falling due after more than one year
 7 
(252,856)
(377,187)

  

Deferred tax
  
(661,306)
(515,262)

NET ASSETS
  
4,373,475
3,864,587


CAPITAL AND RESERVES
  

Called up share capital 
 8 
5,000
5,000

Profit and loss account
  
4,368,475
3,859,587

  
4,373,475
3,864,587


Page 1

 
GOWANBANK FARMS LIMITED
REGISTERED NUMBER: SC060467

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 period 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 18 November 2024.




D B Henderson
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
GOWANBANK FARMS LIMITED
 

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

1.


GENERAL INFORMATION

Gowanbank Farms Limited is a private company, incorporated in Scotland with registration number SC060467. The registered office is situated at Westby, 64 West High Street, Forfar, Angus, DD8 1BJ. The principal place of activity is Newton of Boysack, Friockheim, Arbroath, Angus, DD11 4PT.

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

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.3

CURRENT AND DEFERRED TAXATION

The tax expense for the period 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.

Page 3

 
GOWANBANK FARMS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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:

Wind turbines
-
5% 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.

There is no depreciation charged on heritable property.

 
2.5

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.

 
2.6

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 4 (2023 - 4).

Page 4

 
GOWANBANK FARMS LIMITED
 

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

4.


TANGIBLE FIXED ASSETS







Heritable property
Wind turbines
Plant and machinery
Total

£
£
£
£



COST OR VALUATION


At 1 November 2023
221,792
1,271,747
3,010,518
4,504,057


Additions
-
-
100,749
100,749


Disposals
-
-
(5,011)
(5,011)



At 31 March 2024

221,792
1,271,747
3,106,256
4,599,795



DEPRECIATION


At 1 November 2023
-
508,888
1,000,059
1,508,947


Charge for the period on owned assets
-
26,275
109,693
135,968


Disposals
-
-
(2,073)
(2,073)



At 31 March 2024

-
535,163
1,107,679
1,642,842



NET BOOK VALUE



At 31 March 2024
221,792
736,584
1,998,577
2,956,953



At 31 October 2023
221,792
762,859
2,010,459
2,995,110


5.


DEBTORS

31 March
31 October
2024
2023
£
£

DUE AFTER MORE THAN ONE YEAR

Capital account in related partnership
1,250,000
780,000

1,250,000
780,000

DUE WITHIN ONE YEAR

Trade debtors
161,233
568,053

Current account in related partnership
390,881
477,920

Other debtors
35,357
1,925

1,837,471
1,827,898


Page 5

 
GOWANBANK FARMS LIMITED
 

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

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31 March
31 October
2024
2023
£
£

Bank overdrafts
-
126,552

Bank loans
20,970
134,634

Trade creditors
231,268
160,883

Other creditors
304,780
277,358

Net bligations under finance lease and hire purchase contracts
143,509
163,783

700,527
863,210



7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31 March
31 October
2024
2023
£
£

Bank loans
191,381
255,510

Net obligations under finance leases and hire purchase contracts
61,475
121,677

252,856
377,187





8.


SHARE CAPITAL

31 March
31 October
2024
2023
£
£
AUTHORISED, ALLOTTED, CALLED UP AND FULLY PAID



5,000 (2023 - 5,000) Ordinary shares of £1.00 each
5,000
5,000



Page 6