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REGISTERED NUMBER: SC296896 (Scotland)











Financial Statements for the Year Ended 31st March 2024

for

T.c. Beattie & Co. Limited

T.c. Beattie & Co. Limited (Registered number: SC296896)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


T.c. Beattie & Co. Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: R R Beattie
T W Beattie





SECRETARY: R R Beattie





REGISTERED OFFICE: Wyseby Mains
Kirtlebridge
Lockerbie
Dumfriesshire
DG11 3WW





REGISTERED NUMBER: SC296896 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

T.c. Beattie & Co. Limited (Registered number: SC296896)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,539,594 2,539,594
Tangible assets 5 5,948,769 5,931,564
Investments 6 1,419,869 813,348
9,908,232 9,284,506

CURRENT ASSETS
Stocks 962,909 1,415,635
Debtors 7 2,124,913 1,525,537
Cash at bank 131,031 521,933
3,218,853 3,463,105
CREDITORS
Amounts falling due within one year 8 2,325,678 2,255,374
NET CURRENT ASSETS 893,175 1,207,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,801,407

10,492,237

CREDITORS
Amounts falling due after more than one year 9 (3,190,104 ) (3,145,704 )

PROVISIONS FOR LIABILITIES (73,897 ) (88,049 )
NET ASSETS 7,537,406 7,258,484

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 7,537,404 7,258,482
SHAREHOLDERS' FUNDS 7,537,406 7,258,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd January 2025 and were signed on its behalf by:



R R Beattie - Director


T.c. Beattie & Co. Limited (Registered number: SC296896)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

T.c. Beattie & Co. Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Turnover
Turnover 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.
Improvements to property - not provided
Plant and machinery - 15% on reducing balance
Tractors - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks 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 Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

T.c. Beattie & Co. Limited (Registered number: SC296896)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.




3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Metal
Single Bridge
Farm Cumrue Dairy
Payment Shawsholm Farm Farm Totals
£    £    £    £    £   
COST OR VALUATION
At 1st April 2023
and 31st March 2024 81,493 475,000 1,202,738 1,278,751 3,037,982
AMORTISATION
At 1st April 2023
and 31st March 2024 74,978 - 423,410 - 498,388
NET BOOK VALUE
At 31st March 2024 6,515 475,000 779,328 1,278,751 2,539,594
At 31st March 2023 6,515 475,000 779,328 1,278,751 2,539,594

Cost or valuation at 31st March 2024 is represented by:

Metal
Single Bridge
Farm Cumrue Dairy
Payment Shawsholm Farm Farm Totals
£    £    £    £    £   
Valuation in 2024 81,493 475,000 1,202,738 1,278,751 3,037,982

T.c. Beattie & Co. Limited (Registered number: SC296896)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Investment Improvements
Freehold in Joint Garrel to
property Venture Farm property
£    £    £    £   
COST OR VALUATION
At 1st April 2023 33,000 4,891,033 145,882 509,452
Additions - - - 73,814
At 31st March 2024 33,000 4,891,033 145,882 583,266
DEPRECIATION
At 1st April 2023 - - - -
Charge for year - - - -
At 31st March 2024 - - - -
NET BOOK VALUE
At 31st March 2024 33,000 4,891,033 145,882 583,266
At 31st March 2023 33,000 4,891,033 145,882 509,452

Plant and Motor
machinery Tractors vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1st April 2023 774,875 299,567 14,049 6,667,858
Additions 3,601 - - 77,415
At 31st March 2024 778,476 299,567 14,049 6,745,273
DEPRECIATION
At 1st April 2023 558,687 164,349 13,258 736,294
Charge for year 32,968 27,044 198 60,210
At 31st March 2024 591,655 191,393 13,456 796,504
NET BOOK VALUE
At 31st March 2024 186,821 108,174 593 5,948,769
At 31st March 2023 216,188 135,218 791 5,931,564

Cost or valuation at 31st March 2024 is represented by:

Investment Improvements
Freehold in Joint Garrel to
property Venture Farm property
£    £    £    £   
Valuation in 2024 33,000 4,891,033 145,882 583,266

Plant and Motor
machinery Tractors vehicles Totals
£    £    £    £   
Valuation in 2024 778,476 299,567 14,049 6,745,273

T.c. Beattie & Co. Limited (Registered number: SC296896)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

6. FIXED ASSET INVESTMENTS
Investment Investment Investment
in in Lundie in Yesket Other
Waikirikiri Farming Farm investments Totals
£    £    £    £    £   
COST
At 1st April 2023 - 750,000 - 63,348 813,348
Additions 493,540 - 112,981 - 606,521
At 31st March 2024 493,540 750,000 112,981 63,348 1,419,869
NET BOOK VALUE
At 31st March 2024 493,540 750,000 112,981 63,348 1,419,869
At 31st March 2023 - 750,000 - 63,348 813,348

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

Lundie Farming Limited
Registered office: Fifteen Rosehill, Carlisle,CA1 2RW.
Nature of business: Dairy farming
%
Class of shares: holding
B Ordinary 25.00
2024 31.12.22
£    £   
Aggregate capital and reserves (60,232 ) (273,237 )
Profit for the year 213,005 211,307

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,481,743 1,424,573
Loan to FPA 574,873 -
VAT 68,297 100,964
2,124,913 1,525,537

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 393,262 830,204
Loan - FPA - 94,999
Trade creditors 690,837 1,060,472
Tax 114,689 168,265
Directors' current accounts 1,126,890 101,434
2,325,678 2,255,374

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loan 3,190,104 3,145,704