Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 SC172426 Alexander Brown Margaret Brown iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC172426 2023-04-30 SC172426 2024-04-30 SC172426 2023-05-01 2024-04-30 SC172426 frs-core:CurrentFinancialInstruments 2024-04-30 SC172426 frs-core:Non-currentFinancialInstruments 2024-04-30 SC172426 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 SC172426 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC172426 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 SC172426 frs-core:MotorVehicles 2023-05-01 2024-04-30 SC172426 frs-core:PlantMachinery 2024-04-30 SC172426 frs-core:PlantMachinery 2023-05-01 2024-04-30 SC172426 frs-core:PlantMachinery 2023-04-30 SC172426 frs-core:SharePremium 2024-04-30 SC172426 frs-core:ShareCapital 2024-04-30 SC172426 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 SC172426 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC172426 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 SC172426 frs-bus:SmallEntities 2023-05-01 2024-04-30 SC172426 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 SC172426 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC172426 frs-bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC172426 frs-bus:OrdinaryShareClass1 2024-04-30 SC172426 frs-bus:Director1 2023-05-01 2024-04-30 SC172426 frs-bus:Director2 2023-05-01 2024-04-30 SC172426 frs-countries:Scotland 2023-05-01 2024-04-30 SC172426 2022-04-30 SC172426 2023-04-30 SC172426 2022-05-01 2023-04-30 SC172426 frs-core:CurrentFinancialInstruments 2023-04-30 SC172426 frs-core:Non-currentFinancialInstruments 2023-04-30 SC172426 frs-core:SharePremium 2023-04-30 SC172426 frs-core:ShareCapital 2023-04-30 SC172426 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 SC172426 frs-bus:OrdinaryShareClass1 2022-05-01 2023-04-30
Registered number: SC172426
Newbigging Farms Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC172426
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,001,484 2,009,570
2,001,484 2,009,570
CURRENT ASSETS
Stocks 270,532 268,575
Debtors 5 25,163 19,098
Cash at bank and in hand 7 120,087
295,702 407,760
Creditors: Amounts Falling Due Within One Year 6 (311,697 ) (368,895 )
NET CURRENT ASSETS (LIABILITIES) (15,995 ) 38,865
TOTAL ASSETS LESS CURRENT LIABILITIES 1,985,489 2,048,435
Creditors: Amounts Falling Due After More Than One Year 7 (42,577 ) (57,641 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (38,099 ) (39,592 )
NET ASSETS 1,904,813 1,951,202
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Share premium account 234,795 234,795
Profit and Loss Account 1,669,018 1,715,407
SHAREHOLDERS' FUNDS 1,904,813 1,951,202
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Alexander Brown
Director
30 December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Newbigging Farms Limited is a private company, limited by shares, incorporated in Scotland, registered number SC172426 . The registered office is Sylvadale, Cornhill, Banff, AB45 2ER.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the fair value of amounts receivable in relation to livestock and arable farming, in all its aspects.

Turnover from the sale of livestock and crops is recognised at the point of supply based on despatch of the goods.

Turnover from the government grants is recognised in line with the government grants accounting policy at note 1.7.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
Freehold land is not depreciated. 
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks consist of biological assets in the form of livestock and growing crops. Biological assets are measured at cost less accumulated impairment losses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
2.7. Government Grant
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 May 2023 1,802,879 731,817 2,534,696
Additions - 27,605 27,605
As at 30 April 2024 1,802,879 759,422 2,562,301
Depreciation
As at 1 May 2023 1,824 523,302 525,126
Provided during the period 228 35,463 35,691
As at 30 April 2024 2,052 558,765 560,817
Net Book Value
As at 30 April 2024 1,800,827 200,657 2,001,484
As at 1 May 2023 1,801,055 208,515 2,009,570
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 5,400
Prepayments and accrued income 1,024 784
Corporation tax recoverable assets 9,434 -
VAT 14,705 11,355
Other taxes and social security - 1,559
25,163 19,098
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,483 20,817
Trade creditors 66,116 92,979
Bank loans and overdrafts 56,403 -
Corporation tax - 30,200
Other taxes and social security 485 -
Net wages 13,639 12,332
Other creditors - 381
Accruals and deferred income 102,965 96,132
Directors' loan accounts 61,606 116,054
311,697 368,895
Page 4
Page 5
The bank overdraft is secured by a standard security over certain freehold property and land. Hire purchase liabilities are secured over the assets to which they relate.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 10,483
Accruals and deferred income 42,577 47,158
42,577 57,641
Hire purchase liabilities are secured over the assets to which they relate.
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1.000 each 1,000 1,000
Page 5