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REGISTERED NUMBER: SC034041 (Scotland)











































R.R. Tweedie & Company Limited

Unaudited Financial Statements

for the Year Ended 31st May 2024






R.R. Tweedie & Company Limited (Registered number: SC034041)






Contents of the Financial Statements
for the year ended 31st May 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


R.R. Tweedie & Company Limited

Company Information
for the year ended 31st May 2024







Directors: D K Tweedie
J R Tweedie





Secretary: Mrs S A Tweedie





Registered office: Middlethird
Gordon
Berwickshire
TD3 6JX





Registered number: SC034041 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

R.R. Tweedie & Company Limited (Registered number: SC034041)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,164,001 1,159,870

Current assets
Stocks 405,376 451,518
Debtors 5 89,351 258,785
Cash at bank 603,980 440,760
1,098,707 1,151,063
Creditors
Amounts falling due within one year 6 163,360 205,317
Net current assets 935,347 945,746
Total assets less current liabilities 2,099,348 2,105,616

Creditors
Amounts falling due after more than one
year

7

-

(30,985

)

Provisions for liabilities (111,015 ) (109,929 )

Accruals and deferred income (17,473 ) (19,421 )
Net assets 1,970,860 1,945,281

Capital and reserves
Called up share capital 15,000 15,000
Special reserve 883 883
Retained earnings 1,954,977 1,929,398
Shareholders' funds 1,970,860 1,945,281

R.R. Tweedie & Company Limited (Registered number: SC034041)

Balance Sheet - continued
31st May 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 13th February 2025 and were signed on its behalf by:





D K Tweedie - Director


R.R. Tweedie & Company Limited (Registered number: SC034041)

Notes to the Financial Statements
for the year ended 31st May 2024

1. Statutory information

R.R. Tweedie & Company 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Property improvements - 4% on cost
Plant and machinery - 20% on reducing balance
Tractors - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value by the directors with the exception of the animals on herd basis. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the growing crops to completion and finishing the livestock.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, hire purchase contracts and directors' loans.

Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss in the Statement of Income and Retained Earnings.


R.R. Tweedie & Company Limited (Registered number: SC034041)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

2. Accounting policies - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the Statement of Income and Retained Earnings over the expected useful life of the assets. Grants towards revenue expenditure are released to the Statement of Income and Retained Earnings as the related expenditure is incurred.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and retained Earnings in the period in which they are incurred.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably.

Going Concern
The directors have considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

R.R. Tweedie & Company Limited (Registered number: SC034041)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

3. Employees and directors

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

4. Tangible fixed assets
Land and Property Plant and
buildings improvements machinery
£    £    £   
Cost
At 1st June 2023 205,642 801,961 626,129
Additions - 15,000 83,178
Disposals - - (31,573 )
At 31st May 2024 205,642 816,961 677,734
Depreciation
At 1st June 2023 - 484,150 334,479
Charge for year - 25,758 31,262
Eliminated on disposal - - (25,956 )
At 31st May 2024 - 509,908 339,785
Net book value
At 31st May 2024 205,642 307,053 337,949
At 31st May 2023 205,642 317,811 291,650

Motor Office
Tractors vehicles equipment Totals
£    £    £    £   
Cost
At 1st June 2023 344,175 102,951 2,466 2,083,324
Additions - 16,300 958 115,436
Disposals - (13,799 ) - (45,372 )
At 31st May 2024 344,175 105,452 3,424 2,153,388
Depreciation
At 1st June 2023 58,195 44,721 1,909 923,454
Charge for year 28,599 11,687 434 97,740
Eliminated on disposal - (5,851 ) - (31,807 )
At 31st May 2024 86,794 50,557 2,343 989,387
Net book value
At 31st May 2024 257,381 54,895 1,081 1,164,001
At 31st May 2023 285,980 58,230 557 1,159,870


5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 73,233 229,988
Other debtors 16,118 28,797
89,351 258,785

R.R. Tweedie & Company Limited (Registered number: SC034041)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 30,985 60,555
Payments on account 865 865
Trade creditors 65,776 54,358
Taxation and social security 11,755 5,560
Other creditors 53,979 83,979
163,360 205,317

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts - 30,985

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 30,985 91,540

Hire purchase contracts are secured against the assets to which they relate.

9. Cash reserves

The cash reserves are maintained to allow the business to take account of any expansion opportunities that may arise.