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REGISTERED NUMBER: SC631303 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

WOODSIDE FARM (MONKTON) LTD

WOODSIDE FARM (MONKTON) LTD (REGISTERED NUMBER: SC631303)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WOODSIDE FARM (MONKTON) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: G G Young





SECRETARY: Mrs S D Young





REGISTERED OFFICE: Woodside Farm
Monkton
PRESTWICK
Ayrshire
KA9 2SQ





REGISTERED NUMBER: SC631303 (Scotland)





ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
24 Beresford Terrace
Ayr
KA7 2EG

WOODSIDE FARM (MONKTON) LTD (REGISTERED NUMBER: SC631303)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,390 36,188

CURRENT ASSETS
Stocks 3,466 3,420
Debtors 5 22 252
Cash at bank 1,269 4,887
4,757 8,559
CREDITORS
Amounts falling due within one year 6 43,925 45,173
NET CURRENT LIABILITIES (39,168 ) (36,614 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,778

)

(426

)

CREDITORS
Amounts falling due after more than one
year

7

8,939

12,909
NET LIABILITIES (12,717 ) (13,335 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 8 (13,717 ) (14,335 )
SHAREHOLDERS' FUNDS (12,717 ) (13,335 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WOODSIDE FARM (MONKTON) LTD (REGISTERED NUMBER: SC631303)

BALANCE SHEET - continued
31 MAY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





G G Young - Director


WOODSIDE FARM (MONKTON) LTD (REGISTERED NUMBER: SC631303)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Woodside Farm (Monkton) Ltd 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.

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 - 5% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

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 Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

WOODSIDE FARM (MONKTON) LTD (REGISTERED NUMBER: SC631303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 12,349 17,215 27,220 600 57,384
Additions - 5,045 - - 5,045
At 31 May 2024 12,349 22,260 27,220 600 62,429
DEPRECIATION
At 1 June 2023 1,283 5,836 13,815 262 21,196
Charge for year 616 2,462 2,681 84 5,843
At 31 May 2024 1,899 8,298 16,496 346 27,039
NET BOOK VALUE
At 31 May 2024 10,450 13,962 10,724 254 35,390
At 31 May 2023 11,066 11,379 13,405 338 36,188

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22 252

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,325 2,627
Tax 8 4
Directors' current accounts 41,592 42,542
43,925 45,173

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 3,831 -
Bank loans - 2-5 years 5,108 12,909
8,939 12,909

WOODSIDE FARM (MONKTON) LTD (REGISTERED NUMBER: SC631303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. RESERVES
Retained
earnings
£   

At 1 June 2023 (14,335 )
Profit for the year 618
At 31 May 2024 (13,717 )

9. RELATED PARTY DISCLOSURES

G G Young

2024 2023
£    £   
Amount due to related party at the balance sheet date 41,592 42,542

10. STOCK VALUATION

2024 2023


Price

Value


Price

Value
No.££ No. £ £

Sheep
Ewes 6100 600 - - -
Lambs (HB) 1150 550 - - -

17 -


Sundry Stores
Haylage (bales) 3945 1,755 65 40 2,600
Sawdust (bags) 1 21 21 8 20 160
Small Flakes (bales) 24 10 240 25 10 250
Sawdust (bales) - - - 40 7 280

Red Diesel (litres)

400

0.750

300

100

1.300

130




3,466 3,420