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REGISTERED NUMBER: SC210987 (Scotland)




















Gourdie Farm Associates Ltd.

Unaudited Financial Statements

for the Year Ended 30 September 2024






Gourdie Farm Associates Ltd. (Registered number: SC210987)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gourdie Farm Associates Ltd.

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Mr P C T Yu



SECRETARY: Mrs M L C T Yu



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC210987 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
65-69 Murraygate
Dundee
DD1 2EA

Gourdie Farm Associates Ltd. (Registered number: SC210987)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 346 -
Tangible assets 5 - 524
346 524

CURRENT ASSETS
Stocks 57,000 5,500
Debtors 6 119,785 181,052
Cash at bank and in hand 232,223 200,000
409,008 386,552
CREDITORS
Amounts falling due within one year 7 75,873 29,309
NET CURRENT ASSETS 333,135 357,243
TOTAL ASSETS LESS CURRENT
LIABILITIES

333,481

357,767

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 333,381 357,667
SHAREHOLDERS' FUNDS 333,481 357,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Gourdie Farm Associates Ltd. (Registered number: SC210987)

Balance Sheet - continued
30 September 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 17 March 2025 and were signed by:





Mr P C T Yu - Director


Gourdie Farm Associates Ltd. (Registered number: SC210987)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Gourdie Farm Associates 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 and revenue recognition
Turnover represents net invoices sale of deer by-products, excluding value added tax.

Turnover, which is stated at selling price (including delivery charges), net of VAT, is recognised at the point when the goods are delivered to the customer.

Intangible assets
Intangible assets are initially recognised at cost and subsequently measured at cost less impairments. No amortization has been applied as the asset is not expected to reduce in value for the foreseeable future.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 5% on cost
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Inventories are valued at the lower of cost and estimated selling price less costs to sell, after make due allowances for obsolete and slow moving items.

Financial instruments
Financial instruments comprise financial assets and financial liabilities which are recognised when the company become a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS 102 and are accounted for at amortised cost using the effective interest method.The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

Financial assets at cost compromise bank and other debtors. Financial liabilities compromise trade creditors, accruals and other creditors.


Gourdie Farm Associates Ltd. (Registered number: SC210987)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable that the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Gourdie Farm Associates Ltd. (Registered number: SC210987)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 346
At 30 September 2024 346
NET BOOK VALUE
At 30 September 2024 346

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 24,472 30,330 54,802
DEPRECIATION
At 1 October 2023 23,948 30,330 54,278
Charge for year 524 - 524
At 30 September 2024 24,472 30,330 54,802
NET BOOK VALUE
At 30 September 2024 - - -
At 30 September 2023 524 - 524

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 119,785 181,052

Other debtors includes a loan of £113,738 (2023 180,753) owed from Gourdie Farm Investments Limited, a company under the control of Mr Yu. The loan is interest free with no fixed terms of repayment.

Gourdie Farm Associates Ltd. (Registered number: SC210987)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 6,654
Other creditors 75,873 22,655
75,873 29,309

Other creditors includes a balance of £9,873 (2023 £20,341) on the director's current account. The balance is unsecured, interest-free, and repayable on demand.