Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsetrue2false2023-06-01No description of principal activity2falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC687163 2023-06-01 2024-03-31 SC687163 2022-06-01 2023-05-31 SC687163 2024-03-31 SC687163 2023-05-31 SC687163 c:Director1 2023-06-01 2024-03-31 SC687163 c:Director2 2023-06-01 2024-03-31 SC687163 c:RegisteredOffice 2023-06-01 2024-03-31 SC687163 d:Buildings 2023-06-01 2024-03-31 SC687163 d:Buildings 2024-03-31 SC687163 d:Buildings 2023-05-31 SC687163 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-03-31 SC687163 d:PlantMachinery 2023-06-01 2024-03-31 SC687163 d:PlantMachinery 2024-03-31 SC687163 d:PlantMachinery 2023-05-31 SC687163 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-03-31 SC687163 d:FurnitureFittings 2024-03-31 SC687163 d:FurnitureFittings 2023-05-31 SC687163 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-03-31 SC687163 d:OtherPropertyPlantEquipment 2023-06-01 2024-03-31 SC687163 d:OwnedOrFreeholdAssets 2023-06-01 2024-03-31 SC687163 d:CurrentFinancialInstruments 2024-03-31 SC687163 d:CurrentFinancialInstruments 2023-05-31 SC687163 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC687163 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 SC687163 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC687163 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 SC687163 d:ShareCapital 2024-03-31 SC687163 d:ShareCapital 2023-05-31 SC687163 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC687163 d:RetainedEarningsAccumulatedLosses 2023-05-31 SC687163 c:OrdinaryShareClass1 2023-06-01 2024-03-31 SC687163 c:OrdinaryShareClass1 2024-03-31 SC687163 c:OrdinaryShareClass1 2023-05-31 SC687163 c:FRS102 2023-06-01 2024-03-31 SC687163 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-03-31 SC687163 c:FullAccounts 2023-06-01 2024-03-31 SC687163 c:PrivateLimitedCompanyLtd 2023-06-01 2024-03-31 SC687163 e:PoundSterling 2023-06-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC687163










The Snug at Logie Farm LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

 
THE SNUG AT LOGIE FARM LTD
 

COMPANY INFORMATION


Directors
Mrs J W H Morris 
Mr A W D Morris 




Registered number
SC687163



Registered office
The Farmhouse
Logie Farm

Newburgh

Cupar

KY14 6HL





 
THE SNUG AT LOGIE FARM LTD
REGISTERED NUMBER: SC687163

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
31 May
2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
109,926
120,009

  
109,926
120,009

Current assets
  

Debtors: amounts falling due within one year
 5 
763
350

Cash at bank and in hand
  
120
-

  
883
350

Creditors: amounts falling due within one year
 6 
(79,620)
(111,173)

Net current liabilities
  
 
 
(78,737)
 
 
(110,823)

Total assets less current liabilities
  
31,189
9,186

Creditors: amounts falling due after more than one year
  
(425)
(4,009)

Provisions for liabilities
  

Deferred tax
  
(10,926)
(4,529)

  
 
 
(10,926)
 
 
(4,529)

Net assets
  
19,838
648


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
19,738
548

  
19,838
648


Page 1

 
THE SNUG AT LOGIE FARM LTD
REGISTERED NUMBER: SC687163

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 14 November 2024.




Mrs J W H Morris
Mr A W D Morris
Director
Director

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

Page 2

 
THE SNUG AT LOGIE FARM LTD
 

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

1.


General information

The Snug at Logie Farm Ltd is a private company, limited by shares, domiciled in Scotland with registration number SC687163. The company's registered office is The Farmhouse, Logie Farm, Newburgh, Cupar, Scotland, KY14 6HL and its principal place of business is Logie Farm, Newburgh, Cupar, Scotland, KY14 6HL.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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 revenue 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 revenue is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Borrowing costs

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

Page 3

 
THE SNUG AT LOGIE FARM LTD
 

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

2.Accounting policies (continued)

 
2.4

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.

 
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, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements
-
5%
Plant and machinery
-
20%
Pods
-
5%

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.

Page 4

 
THE SNUG AT LOGIE FARM LTD
 

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

2.Accounting policies (continued)

 
2.6

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




The average monthly number of employees, including the directors, during the period was as follows:


        2024
        2023
            No.
            No.







Directors
2
2


4.


Tangible fixed assets







Property Imprvs.
Plant and machinery
Pods
Total

£
£
£
£



Cost or valuation


At 1 June 2023
21,113
32,584
90,515
144,212



At 31 March 2024

21,113
32,584
90,515
144,212



Depreciation


At 1 June 2023
2,116
13,034
9,053
24,203


Charge for the period on owned assets
880
5,432
3,771
10,083



At 31 March 2024

2,996
18,466
12,824
34,286



Net book value



At 31 March 2024
18,117
14,118
77,691
109,926



At 31 May 2023
18,997
19,550
81,462
120,009

Page 5

 
THE SNUG AT LOGIE FARM LTD
 

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

5.


Debtors

31 March
31 May
2024
2023
£
£


Trade debtors
230
-

Prepayments and accrued income
533
350

763
350



6.


Creditors: Amounts falling due within one year

31 March
31 May
2024
2023
£
£

Bank overdrafts
-
3,791

Other taxation and social security
3,542
1,752

Obligations under finance lease and hire purchase contracts
4,418
4,942

Other creditors
70,160
99,188

Accruals and deferred income
1,500
1,500

79,620
111,173


Obligations under finance lease and hire purchase contratcs are secured against the assets to which they relate.

Page 6

 
THE SNUG AT LOGIE FARM LTD
 

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

7.


Share capital

31 March
31 May
2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



Page 7