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REGISTERED NUMBER: 08984179 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Scallop Ranch Ltd

Scallop Ranch Ltd (Registered number: 08984179)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Scallop Ranch Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: G A Clifford
H S Jones





REGISTERED OFFICE: The Farmhouse
Biddenfield Lane
Shedfield
Southampton
Hampshire
SO32 2HP





REGISTERED NUMBER: 08984179 (England and Wales)





ACCOUNTANTS: KT Accountants Limited
Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX

Scallop Ranch Ltd (Registered number: 08984179)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 172,271 204,083
Investments 5 60,000 60,000
232,271 264,083

CURRENT ASSETS
Stocks 750 500
Debtors 6 37,046 28,119
Cash at bank 51,400 41,616
89,196 70,235
CREDITORS
Amounts falling due within one year 7 4,926,980 4,061,462
NET CURRENT LIABILITIES (4,837,784 ) (3,991,227 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,605,513

)

(3,727,144

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 9 (4,605,514 ) (3,727,145 )
SHAREHOLDERS' FUNDS (4,605,513 ) (3,727,144 )

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

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

Scallop Ranch Ltd (Registered number: 08984179)

Balance Sheet - continued
30 June 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 26 March 2025 and were signed on its behalf by:





G A Clifford - Director


Scallop Ranch Ltd (Registered number: 08984179)

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

1. STATUTORY INFORMATION

Scallop Ranch Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 25% on cost, 25% on reducing balance and 10% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 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.


Scallop Ranch Ltd (Registered number: 08984179)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 750,080
Additions 832
At 30 June 2024 750,912
DEPRECIATION
At 1 July 2023 545,997
Charge for year 32,644
At 30 June 2024 578,641
NET BOOK VALUE
At 30 June 2024 172,271
At 30 June 2023 204,083

Scallop Ranch Ltd (Registered number: 08984179)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 60,000
NET BOOK VALUE
At 30 June 2024 60,000
At 30 June 2023 60,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 2,884 1,118
Amounts owed by group undertakings 17,347 9,500
Other debtors 1 3,891
VAT 9,247 7,305
Prepayments and accrued income 7,567 6,305
37,046 28,119

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Amounts owed to group undertakings 3,670,862 3,190,862
Other creditors 1,287 1,150
Accruals and deferred income 1,254,831 869,450
4,926,980 4,061,462

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Amounts owed to parent 4,921,320 4,057,212

Pig Shed Trust hold a fixed and floating charge over all of the company's assets.

Scallop Ranch Ltd (Registered number: 08984179)

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

9. RESERVES
Retained
earnings
£   

At 1 July 2023 (3,727,145 )
Deficit for the year (878,369 )
At 30 June 2024 (4,605,514 )

10. GOING CONCERN

The company continues to make a loss as it incurs costs relating to the farming of scallops. However, this will ultimately enable them to generate an income. Until that time, Pig Shed Trust, the parent undertaking, will continue to support the company. This is evidenced by loans to the value of £3,670,862 advanced since incorporation.

On this basis, the directors consider that the going concern basis continues to be appropriate in the preparation of the Company's financial statements.