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REGISTERED NUMBER: SC135313 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

A MacGregor (Allanfauld) Limited

A MacGregor (Allanfauld) Limited (Registered number: SC135313)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A MacGregor (Allanfauld) Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: A A MacGregor
Mrs E MacGregor





SECRETARY: Mrs E MacGregor





REGISTERED OFFICE: Allanfauld Farm
Kilsyth
Glasgow
G65 9DF





REGISTERED NUMBER: SC135313 (Scotland)





ACCOUNTANTS: Bell Barr & Company
Chartered Accountants
2 Stewart Street
Milngavie
Glasgow
G62 6BW

A MacGregor (Allanfauld) Limited (Registered number: SC135313)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,962 10,700
Tangible assets 5 1,950,519 1,954,420
Investments 6 105 105
1,957,586 1,965,225

CURRENT ASSETS
Stocks 337,330 263,555
Debtors 7 117,410 131,162
Cash at bank 727 211,301
455,467 606,018
CREDITORS
Amounts falling due within one year 8 525,680 618,372
NET CURRENT LIABILITIES (70,213 ) (12,354 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,887,373

1,952,871

CREDITORS
Amounts falling due after more than one
year

9

(1,163,440

)

(1,211,564

)

PROVISIONS FOR LIABILITIES (93,618 ) (85,204 )
NET ASSETS 630,315 656,103

CAPITAL AND RESERVES
Called up share capital 150,000 150,000
Other reserves (8,832 ) (8,832 )
Retained earnings 489,147 514,935
SHAREHOLDERS' FUNDS 630,315 656,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

A MacGregor (Allanfauld) Limited (Registered number: SC135313)

Balance Sheet - continued
29 February 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





A A MacGregor - Director


A MacGregor (Allanfauld) Limited (Registered number: SC135313)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

A MacGregor (Allanfauld) 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.

The directors have reviewed the company's operating costs for the next twelve months, and the sources of funds available, and are satisfied that the company is a going concern.

Significant judgements and estimates
The preparation of financial statements in compliance with FRS 102 may require the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion there are no critical accounting estimates or judgements used in the preparation of these financial statements.

Turnover
Turnover represents net sales of goods, excluding value added tax, plus agricultural subsidies.

Intangible assets
Purchased Basic Payment Scheme entitlements are capitalised and amortised over their expected useful life of five years.

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.
Freehold property - not provided
Holiday chalets - 5% on cost
Improvements to property - 5% on reducing balance
Plant and machinery - 15% on reducing balance and 5% on cost
Fixtures and fittings - 33% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance
Tractors & farm bikes - 25% on reducing balance

Freehold property is not depreciated as it is mainly farmland.

Stocks
Stocks are valued at the lower of cost and net realisable value. In accordance with industry practice, the breeding herd and flock comprises mature animals which are kept for sale of their produce and are stated at production cost to maturity.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.


A MacGregor (Allanfauld) Limited (Registered number: SC135313)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
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 received in respect of capital expenditure are recognised in the profit and loss account over the expected useful economic life of the related asset. Grants which relate to revenue are recognised in income in the period the related costs are incurred by the entity for which the grant is intended to compensate. For grants which are received by the entity for compensation for expenses or losses which have already been incurred, the grant is recognised in income when it is received or receivable.

Cash at bank
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the account.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability on the balance sheet and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

A MacGregor (Allanfauld) Limited (Registered number: SC135313)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
BPS
Entitlements
£   
COST
At 1 March 2023
and 29 February 2024 18,691
AMORTISATION
At 1 March 2023 7,991
Amortisation for year 3,738
At 29 February 2024 11,729
NET BOOK VALUE
At 29 February 2024 6,962
At 28 February 2023 10,700

5. TANGIBLE FIXED ASSETS
Improvements
Freehold Holiday to Plant and
property chalets property machinery
£    £    £    £   
COST
At 1 March 2023 631,413 26,594 247,768 1,577,199
Additions - - - 8,120
Disposals - - - -
At 29 February 2024 631,413 26,594 247,768 1,585,319
DEPRECIATION
At 1 March 2023 - 19,884 48,616 556,995
Charge for year - 1,330 9,958 79,215
Eliminated on disposal - - - -
At 29 February 2024 - 21,214 58,574 636,210
NET BOOK VALUE
At 29 February 2024 631,413 5,380 189,194 949,109
At 28 February 2023 631,413 6,710 199,152 1,020,204

A MacGregor (Allanfauld) Limited (Registered number: SC135313)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures Tractors
and Motor & farm
fittings vehicles bikes Totals
£    £    £    £   
COST
At 1 March 2023 24,493 94,446 186,801 2,788,714
Additions - 52,482 93,500 154,102
Disposals - - (66,150 ) (66,150 )
At 29 February 2024 24,493 146,928 214,151 2,876,666
DEPRECIATION
At 1 March 2023 19,775 52,422 136,602 834,294
Charge for year 1,306 23,522 33,675 149,006
Eliminated on disposal - - (57,153 ) (57,153 )
At 29 February 2024 21,081 75,944 113,124 926,147
NET BOOK VALUE
At 29 February 2024 3,412 70,984 101,027 1,950,519
At 28 February 2023 4,718 42,024 50,199 1,954,420

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 29 February 2024 105
NET BOOK VALUE
At 29 February 2024 105
At 28 February 2023 105

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 26,012 46,521
Other debtors 91,398 84,641
117,410 131,162

A MacGregor (Allanfauld) Limited (Registered number: SC135313)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 432,830 334,934
Hire purchase contracts 26,908 5,667
Trade creditors 32,077 66,312
Taxation and social security 3,739 2,481
Other creditors 30,126 208,978
525,680 618,372

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 1,113,931 1,199,597
Hire purchase contracts 42,283 -
Other creditors 7,226 11,967
1,163,440 1,211,564

10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank overdrafts 334,280 250,890
Bank loans 1,212,481 1,283,641
1,546,761 1,534,531

The bank overdraft and term loans are secured by a standard security over farmland owned by the company, together with a floating charge over the assets of the company and a floating charge over the assets of the parent company.