IRIS Accounts Production v24.3.2.46 SC457301 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false Ordinary 0.01000 A Ordinary 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4573012023-08-31SC4573012024-08-31SC4573012023-09-012024-08-31SC4573012022-08-31SC4573012022-09-012023-08-31SC4573012023-08-31SC457301ns15:Scotland2023-09-012024-08-31SC457301ns14:PoundSterling2023-09-012024-08-31SC457301ns10:Director12023-09-012024-08-31SC457301ns10:PrivateLimitedCompanyLtd2023-09-012024-08-31SC457301ns10:SmallEntities2023-09-012024-08-31SC457301ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-31SC457301ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-31SC457301ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-31SC457301ns10:FullAccounts2023-09-012024-08-31SC457301ns10:OrdinaryShareClass12023-09-012024-08-31SC457301ns10:OrdinaryShareClass22023-09-012024-08-31SC457301ns10:Director22023-09-012024-08-31SC457301ns10:RegisteredOffice2023-09-012024-08-31SC457301ns5:CurrentFinancialInstruments2024-08-31SC457301ns5:CurrentFinancialInstruments2023-08-31SC457301ns5:Non-currentFinancialInstruments2024-08-31SC457301ns5:Non-currentFinancialInstruments2023-08-31SC457301ns5:ShareCapital2024-08-31SC457301ns5:ShareCapital2023-08-31SC457301ns5:RetainedEarningsAccumulatedLosses2024-08-31SC457301ns5:RetainedEarningsAccumulatedLosses2023-08-31SC457301ns5:LeaseholdImprovements2023-09-012024-08-31SC457301ns5:PlantMachinery2023-09-012024-08-31SC457301ns5:MotorVehicles2023-09-012024-08-31SC457301ns5:ComputerEquipment2023-09-012024-08-31SC457301ns5:LeaseholdImprovements2023-08-31SC457301ns5:PlantMachinery2023-08-31SC457301ns5:FurnitureFittings2023-08-31SC457301ns5:FurnitureFittings2023-09-012024-08-31SC457301ns5:LeaseholdImprovements2024-08-31SC457301ns5:PlantMachinery2024-08-31SC457301ns5:FurnitureFittings2024-08-31SC457301ns5:LeaseholdImprovements2023-08-31SC457301ns5:PlantMachinery2023-08-31SC457301ns5:FurnitureFittings2023-08-31SC457301ns5:MotorVehicles2023-08-31SC457301ns5:ComputerEquipment2023-08-31SC457301ns5:MotorVehicles2024-08-31SC457301ns5:ComputerEquipment2024-08-31SC457301ns5:MotorVehicles2023-08-31SC457301ns5:ComputerEquipment2023-08-31SC457301ns5:CostValuation2023-08-31SC457301ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-31SC457301ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31SC457301ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-08-31SC457301ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-08-31SC457301ns5:CurrentFinancialInstruments2023-09-012024-08-31SC457301ns5:Non-currentFinancialInstruments2023-09-012024-08-31SC457301ns5:DeferredTaxation2023-08-31SC457301ns5:DeferredTaxation2023-09-012024-08-31SC457301ns5:DeferredTaxation2024-08-31SC457301ns10:OrdinaryShareClass12024-08-31SC457301ns10:OrdinaryShareClass22024-08-31SC457301ns5:RetainedEarningsAccumulatedLosses2023-08-31SC457301ns5:RetainedEarningsAccumulatedLosses2023-09-012024-08-31
REGISTERED NUMBER: SC457301 (Scotland)















Unaudited Financial Statements For The Year Ended 31 August 2024

for

Mike Anderson Farming Ltd

Mike Anderson Farming Ltd (Registered number: SC457301)






Contents of the Financial Statements
For The Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mike Anderson Farming Ltd

Company Information
For The Year Ended 31 August 2024







DIRECTORS: Mr M Anderson
Ms C M Stott



REGISTERED OFFICE: Sonnenalm
Dufftown
Keith
AB55 4BU



REGISTERED NUMBER: SC457301 (Scotland)



ACCOUNTANTS: The Long Partnership
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Virgin Money
161 Mid Street
Keith
Moray
AB55 5BL

Mike Anderson Farming Ltd (Registered number: SC457301)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 175,867 147,429
Investments 5 100 100
175,967 147,529

CURRENT ASSETS
Stocks 63,328 77,190
Debtors 6 158,779 93,241
Cash at bank 154,822 133,520
376,929 303,951
CREDITORS
Amounts falling due within one year 7 262,273 270,845
NET CURRENT ASSETS 114,656 33,106
TOTAL ASSETS LESS CURRENT
LIABILITIES

290,623

180,635

CREDITORS
Amounts falling due after more than one
year

8

(25,235

)

(46,857

)

PROVISIONS FOR LIABILITIES 9 (24,329 ) (13,587 )
NET ASSETS 241,059 120,191

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 240,959 120,091
SHAREHOLDERS' FUNDS 241,059 120,191

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

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

Mike Anderson Farming Ltd (Registered number: SC457301)

Balance Sheet - continued
31 August 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 5 March 2025 and were signed on its behalf by:





Mr M Anderson - Director


Mike Anderson Farming Ltd (Registered number: SC457301)

Notes to the Financial Statements
For The Year Ended 31 August 2024

1. STATUTORY INFORMATION

Mike Anderson Farming 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.
Tenants improvements - 20% on cost
Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 9 ) .

Mike Anderson Farming Ltd (Registered number: SC457301)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Tenants and
improvements Equipment fittings
£    £    £   
COST
At 1 September 2023 88,669 154,316 -
Additions - 84,209 208
Disposals - (14,878 ) -
At 31 August 2024 88,669 223,647 208
DEPRECIATION
At 1 September 2023 55,974 41,384 -
Charge for year 17,734 35,600 22
Eliminated on disposal - (9,086 ) -
At 31 August 2024 73,708 67,898 22
NET BOOK VALUE
At 31 August 2024 14,961 155,749 186
At 31 August 2023 32,695 112,932 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 5,400 1,253 249,638
Additions - 4,040 88,457
Disposals - - (14,878 )
At 31 August 2024 5,400 5,293 323,217
DEPRECIATION
At 1 September 2023 4,439 412 102,209
Charge for year 240 631 54,227
Eliminated on disposal - - (9,086 )
At 31 August 2024 4,679 1,043 147,350
NET BOOK VALUE
At 31 August 2024 721 4,250 175,867
At 31 August 2023 961 841 147,429

Mike Anderson Farming Ltd (Registered number: SC457301)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 100
NET BOOK VALUE
At 31 August 2024 100
At 31 August 2023 100

6. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Trade debtors 76,008 -
Other debtors 16,423 28,241
92,431 28,241

Amounts falling due after more than one year:
Other debtors 66,348 65,000

Aggregate amounts 158,779 93,241

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 15,503 18,957
Trade creditors 96,447 161,361
Taxation and social security 66,573 25,726
Other creditors 73,750 54,801
262,273 270,845

Hire purchase contracts include amounts of £15,503 (2022 - £18,957) which are secured against the assets to which they relate.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 25,235 31,354
Hire purchase contracts - 15,503
25,235 46,857

Hire purchase contracts include amounts of £nil (2023 - £15,503) which are secured against the assets to which they relate.

Mike Anderson Farming Ltd (Registered number: SC457301)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024

9. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 24,329 13,587

Deferred
tax
£   
Balance at 1 September 2023 13,587
Provided during year 10,742
Balance at 31 August 2024 24,329

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
9,985 Ordinary 0.01 100 100
15 A Ordinary 0.01 - -
100 100

11. RESERVES
Retained
earnings
£   

At 1 September 2023 120,091
Profit for the year 210,468
Dividends (89,600 )
At 31 August 2024 240,959

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £68,500 (2023 - £66,600) were paid to the directors .

At 31 August 2023 the company owed the director £36. During the year the director met expenses on behalf of the company totalling £342. At 31 August 2024 the company owed the director £378. This loan is interest free and has no fixed terms of repayment.

At 31 August 2023 Porkies Scotland Ltd, a company under common control owed the company £65,000. During the year the company met expenses on behalf of Porkies Scotland Ltd totalling £1,348. At 31 August 2024 Porkies Scotland Ltd owed the company £66,348. This loan is interest free and has no fixed terms of repayment.

At 31 August 2023 the company owed Happy Hog Ltd, a company under common control £38,930. During the year the company met expenses on behalf of Happy Hog Ltd totalling £1,124. At 31 August 2024 the company owed Happy Hog Ltd £37,806 . This loan is interest free and has no fixed terms of repayment.