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REGISTERED NUMBER: SC665913 (Scotland)















Unaudited Financial Statements for the Year Ended 28 May 2024

for

Elliot (Balnakeil) Ltd

Elliot (Balnakeil) Ltd (Registered number: SC665913)






Contents of the Financial Statements
for the Year Ended 28 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Elliot (Balnakeil) Ltd

Company Information
for the Year Ended 28 May 2024







DIRECTORS: Mrs E I Elliot
A T Elliot





REGISTERED OFFICE: 47-49 The Square
Kelso
United Kingdom
Roxburghshire
TD5 7HW





REGISTERED NUMBER: SC665913 (Scotland)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Elliot (Balnakeil) Ltd (Registered number: SC665913)

Balance Sheet
28 May 2024

28/5/24 28/5/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,417 85,417
Tangible assets 5 428,937 357,131
509,354 442,548

CURRENT ASSETS
Stocks 6 332,200 354,255
Debtors 7 12,327 46,387
Cash at bank 19,136 108
363,663 400,750
CREDITORS
Amounts falling due within one year 8 902,797 857,657
NET CURRENT LIABILITIES (539,134 ) (456,907 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(29,780

)

(14,359

)

PROVISIONS FOR LIABILITIES 9,500 9,500
NET LIABILITIES (39,280 ) (23,859 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (39,380 ) (23,959 )
(39,280 ) (23,859 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 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.

Elliot (Balnakeil) Ltd (Registered number: SC665913)

Balance Sheet - continued
28 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 Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





A T Elliot - Director


Elliot (Balnakeil) Ltd (Registered number: SC665913)

Notes to the Financial Statements
for the Year Ended 28 May 2024

1. STATUTORY INFORMATION

Elliot (Balnakeil) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Tractors - 15% on cost
Motor vehicles - 15% on cost

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.

Elliot (Balnakeil) Ltd (Registered number: SC665913)

Notes to the Financial Statements - continued
for the Year Ended 28 May 2024

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 29 May 2023
and 28 May 2024 100,000
AMORTISATION
At 29 May 2023 14,583
Amortisation for year 5,000
At 28 May 2024 19,583
NET BOOK VALUE
At 28 May 2024 80,417
At 28 May 2023 85,417

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery Tractors vehicles Totals
£    £    £    £    £   
COST
At 29 May 2023 256,400 93,159 50,000 10,500 410,059
Additions 82,047 2,678 - 16,500 101,225
Disposals - - - (10,500 ) (10,500 )
At 28 May 2024 338,447 95,837 50,000 16,500 500,784
DEPRECIATION
At 29 May 2023 - 26,523 21,822 4,583 52,928
Charge for year - 14,372 7,500 1,630 23,502
Eliminated on disposal - - - (4,583 ) (4,583 )
At 28 May 2024 - 40,895 29,322 1,630 71,847
NET BOOK VALUE
At 28 May 2024 338,447 54,942 20,678 14,870 428,937
At 28 May 2023 256,400 66,636 28,178 5,917 357,131

6. STOCKS
28/5/24 28/5/23
£    £   
Stocks 332,200 354,255

Elliot (Balnakeil) Ltd (Registered number: SC665913)

Notes to the Financial Statements - continued
for the Year Ended 28 May 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/5/24 28/5/23
£    £   
VAT - 33,959
Prepayments 12,327 12,428
12,327 46,387

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/5/24 28/5/23
£    £   
Bank loans and overdrafts - 196,101
Tax 6,426 6,149
VAT 2,624 -
Other creditors 313,857 100,000
Directors' loan accounts 577,020 552,252
Accrued expenses 2,310 2,315
Deferred government grants 560 840
902,797 857,657