Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false252023-04-01No description of principal activity24falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC327648 2023-04-01 2024-03-31 SC327648 2022-06-01 2023-03-31 SC327648 2024-03-31 SC327648 2023-03-31 SC327648 c:CompanySecretary1 2023-04-01 2024-03-31 SC327648 c:Director1 2023-04-01 2024-03-31 SC327648 c:Director2 2023-04-01 2024-03-31 SC327648 c:Director3 2023-04-01 2024-03-31 SC327648 c:Director4 2023-04-01 2024-03-31 SC327648 c:RegisteredOffice 2023-04-01 2024-03-31 SC327648 d:Buildings 2023-04-01 2024-03-31 SC327648 d:Buildings 2024-03-31 SC327648 d:Buildings 2023-03-31 SC327648 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC327648 d:PlantMachinery 2023-04-01 2024-03-31 SC327648 d:PlantMachinery 2024-03-31 SC327648 d:PlantMachinery 2023-03-31 SC327648 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC327648 d:MotorVehicles 2023-04-01 2024-03-31 SC327648 d:MotorVehicles 2024-03-31 SC327648 d:MotorVehicles 2023-03-31 SC327648 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC327648 d:FurnitureFittings 2023-04-01 2024-03-31 SC327648 d:FurnitureFittings 2024-03-31 SC327648 d:FurnitureFittings 2023-03-31 SC327648 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC327648 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC327648 d:OtherPropertyPlantEquipment 2024-03-31 SC327648 d:OtherPropertyPlantEquipment 2023-03-31 SC327648 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC327648 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC327648 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 SC327648 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 SC327648 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 SC327648 d:CurrentFinancialInstruments 2024-03-31 SC327648 d:CurrentFinancialInstruments 2023-03-31 SC327648 d:Non-currentFinancialInstruments 2024-03-31 SC327648 d:Non-currentFinancialInstruments 2023-03-31 SC327648 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC327648 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC327648 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC327648 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC327648 d:ShareCapital 2024-03-31 SC327648 d:ShareCapital 2023-03-31 SC327648 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC327648 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC327648 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC327648 c:OrdinaryShareClass1 2024-03-31 SC327648 c:OrdinaryShareClass1 2023-03-31 SC327648 c:FRS102 2023-04-01 2024-03-31 SC327648 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC327648 c:FullAccounts 2023-04-01 2024-03-31 SC327648 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC327648 2 2023-04-01 2024-03-31 SC327648 4 2023-04-01 2024-03-31 SC327648 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-04-01 2024-03-31 SC327648 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC327648










CRAIGOWL FARMS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
CRAIGOWL FARMS LTD
 

COMPANY INFORMATION


Directors
Mr A F Duncan 
Mrs J V Duncan 
Mrs H A Duncan 
Mr S A Duncan 




Company secretary
Mrs J V Duncan



Registered number
SC327648



Registered office
Balkemback

Tealing

Angus

DD4 0RF




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
CRAIGOWL FARMS LTD
REGISTERED NUMBER: SC327648

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Intangible assets
 4 
1
8,638

Tangible assets
 5 
6,326,031
6,437,831

Investments
 6 
50
50

  
6,326,082
6,446,519

Current assets
  

Stocks
  
116,578
210,085

Debtors: amounts falling due within one year
 7 
325,438
216,756

Cash at bank and in hand
  
13,508
25,229

  
455,524
452,070

Creditors: amounts falling due within one year
 8 
(1,012,185)
(656,424)

Net current liabilities
  
 
 
(556,661)
 
 
(204,354)

Total assets less current liabilities
  
5,769,421
6,242,165

Creditors: amounts falling due after more than one year
 9 
(5,983,760)
(6,021,282)

Provisions for liabilities
  

Deferred tax
  
(272,794)
(96,281)

  
 
 
(272,794)
 
 
(96,281)

Net (liabilities)/assets
  
(487,133)
124,602


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(487,233)
124,502

  
(487,133)
124,602


Page 1

 
CRAIGOWL FARMS LTD
REGISTERED NUMBER: SC327648

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 30 October 2024.




Mr A F Duncan
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CRAIGOWL FARMS LTD
 

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

1.


General information

Craigowl Farms Limited is a private company, limited by shares and domiciled in Scotland with registration number SC327648. The registered office is Balkemback, Tealing, DD4 0RF. 

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

 
2.3

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CRAIGOWL FARMS LTD
 

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

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

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:

BPS rights
-
33%
straight line

 
2.9

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.

Page 4

 
CRAIGOWL FARMS LTD
 

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

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Plant and machinery
-
12.5% reducing balance
Motor vehicles
-
25% reducing balance
Renewables
-
5% straight line
Polytunnels
-
12.5% straight line

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.

 
2.10

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 weighted average 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 24).

Page 5

 
CRAIGOWL FARMS LTD
 

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

4.


Intangible assets




BPS rights

£



Cost


At 1 April 2023
25,908



At 31 March 2024

25,908



Amortisation


At 1 April 2023
17,270


Charge for the year on owned assets
8,637



At 31 March 2024

25,907



Net book value



At 31 March 2024
1



At 31 March 2023
8,638



Page 6

 
CRAIGOWL FARMS LTD
 

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

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Renewables
Polytunnels

£
£
£
£
£



Cost or valuation


At 1 April 2023
4,978,442
255,628
15,995
1,633,581
273,950


Additions
-
39,506
-
-
-



At 31 March 2024

4,978,442
295,134
15,995
1,633,581
273,950



Depreciation


At 1 April 2023
-
44,091
3,999
603,187
68,488


Charge for the year on owned assets
-
31,383
3,999
81,680
34,244



At 31 March 2024

-
75,474
7,998
684,867
102,732



Net book value



At 31 March 2024
4,978,442
219,660
7,997
948,714
171,218



At 31 March 2023
4,978,442
211,537
11,996
1,030,394
205,462

Total

£



Cost or valuation


At 1 April 2023
7,157,596


Additions
39,506



At 31 March 2024

7,197,102



Depreciation


At 1 April 2023
719,765


Charge for the year on owned assets
151,306



At 31 March 2024

871,071



Net book value



At 31 March 2024
6,326,031



At 31 March 2023
6,437,831

Page 7

 
CRAIGOWL FARMS LTD
 

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

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2023
50



At 31 March 2024
50





7.


Debtors

2024
2023
£
£


Trade debtors
1,767
29,794

Other debtors
263,133
130,549

Prepayments and accrued income
60,538
56,413

325,438
216,756



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
105,277
136,507

Bank loans
21,570
14,730

Trade creditors
140,025
212,857

Other taxation and social security
10,890
8,422

Obligations under finance lease and hire purchase contracts
20,919
16,128

Other creditors
695,900
252,677

Accruals and deferred income
17,604
15,103

1,012,185
656,424


The bank loan is secured over freehold property of the company together with a floating charge over all assets. 

Page 8

 
CRAIGOWL FARMS LTD
 

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

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,939,255
5,967,665

Net obligations under finance leases and hire purchase contracts
44,505
53,617

5,983,760
6,021,282


The bank loan is secured over freehold property of the company together with a floating charge over all assets. 


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £0.10 each
100
100



Page 9