Company registration number SC037747 (Scotland)
CROY CUNNINGHAM (FARMS) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
CROY CUNNINGHAM (FARMS) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CROY CUNNINGHAM (FARMS) LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
207,097
214,201
Investments
3,054
3,054
210,151
217,255
Current assets
Stocks
4,200
70,180
Debtors
5
2,815
4,705
Cash at bank and in hand
282,873
162,932
289,888
237,817
Creditors: amounts falling due within one year
6
(191,529)
(208,016)
Net current assets
98,359
29,801
Net assets
308,510
247,056
Capital and reserves
Called up share capital
7,000
7,000
Profit and loss reserves
301,510
240,056
Total equity
308,510
247,056
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 18 December 2024 and are signed on its behalf by:
Mr A Campbell
Director
Company Registration No. SC037747
CROY CUNNINGHAM (FARMS) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information
Croy Cunningham (Farms) Ltd is a private company limited by shares incorporated in Scotland. The registered office is Unit E3, Inveralmond Business Centre, 6 Auld Bond Road, Perth, United Kingdom, PH1 3FX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation
Fixtures and fittings
10% on reducing balance
Computers
25% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
CROY CUNNINGHAM (FARMS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023 and 31 May 2024
163,468
109,472
833
412,629
686,402
Depreciation and impairment
At 1 June 2023
72,266
365
399,571
472,202
Depreciation charged in the year
3,721
117
3,265
7,103
At 31 May 2024
75,987
482
402,836
479,305
Carrying amount
At 31 May 2024
163,468
33,485
351
9,793
207,097
At 31 May 2023
163,468
37,206
469
13,058
214,201
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
296
Other debtors
2,815
4,409
2,815
4,705
CROY CUNNINGHAM (FARMS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,586
11,822
Other creditors
181,398
191,979
Accruals and deferred income
4,545
4,215
191,529
208,016
7
Directors Transactions
At the end of the year the company owed the directors £181,398 (2023: £191,979). This loan is repayable on demand and interest free.