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REGISTERED NUMBER: SC054178 (Scotland)















Unaudited Financial Statements for the Year Ended 31st July 2024

for

Craigo Farms Limited

Craigo Farms Limited (Registered number: SC054178)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Craigo Farms Limited

Company Information
for the year ended 31st July 2024







Directors: G E Macpherson-Grant
O H Russell
E O Russell
C N Russell





Secretary: O H Russell





Registered office: Little Craigo
Craigo
Montrose
Angus
DD10 9JT





Registered number: SC054178 (Scotland)





Accountants: Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Craigo Farms Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Craigo Farms Limited for the year ended 31st July 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Craigo Farms Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Craigo Farms Limited and state those matters that we have agreed to state to the Board of Directors of Craigo Farms Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Craigo Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Craigo Farms Limited. You consider that Craigo Farms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Craigo Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT


27th February 2025

Craigo Farms Limited (Registered number: SC054178)

Balance Sheet
31st July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 648,773 693,281
Investments 5 15,130 15,130
663,903 708,411

Current assets
Stocks 64,942 74,984
Debtors 6 105,226 68,483
Cash at bank 163,550 82,641
333,718 226,108
Creditors
Amounts falling due within one year 7 525,144 460,985
Net current liabilities (191,426 ) (234,877 )
Total assets less current liabilities 472,477 473,534

Creditors
Amounts falling due after more than one
year

8

375,644

436,454
Net assets 96,833 37,080

Capital and reserves
Called up share capital 100 100
Retained earnings 96,733 36,980
96,833 37,080

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

Craigo Farms Limited (Registered number: SC054178)

Balance Sheet - continued
31st July 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 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 27th February 2025 and were signed on its behalf by:





E O Russell - Director


Craigo Farms Limited (Registered number: SC054178)

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


1. Statutory information

Craigo Farms 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 5% over lifetime of 20 year lease
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% 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 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Craigo Farms Limited (Registered number: SC054178)

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


2. Accounting policies - continued

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.

Fair value
Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 2 ) .

4. Tangible fixed assets
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1st August 2023 472,279 1,023,795 24,089 28,455 1,548,618
Additions - 14,950 - - 14,950
At 31st July 2024 472,279 1,038,745 24,089 28,455 1,563,568
Depreciation
At 1st August 2023 255,839 570,837 19,037 9,624 855,337
Charge for year 10,773 45,792 1,010 1,883 59,458
At 31st July 2024 266,612 616,629 20,047 11,507 914,795
Net book value
At 31st July 2024 205,667 422,116 4,042 16,948 648,773
At 31st July 2023 216,440 452,958 5,052 18,831 693,281

5. Fixed asset investments
Interest
in joint
venture
£   
Cost
At 1st August 2023
and 31st July 2024 15,130
Net book value
At 31st July 2024 15,130
At 31st July 2023 15,130

Craigo Farms Limited (Registered number: SC054178)

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


6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 22,172 16,074
Other debtors 83,054 52,409
105,226 68,483

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 59,192 57,575
Hire purchase contracts - 19,446
Trade creditors 141,016 92,937
Amounts owed to group undertakings 50,000 -
Taxation and social security (552 ) (3,578 )
Other creditors 275,488 294,605
525,144 460,985

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 375,644 436,454