REGISTERED NUMBER: |
RAESIDE FARMS LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2023 |
REGISTERED NUMBER: |
RAESIDE FARMS LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2023 |
RAESIDE FARMS LIMITED (REGISTERED NUMBER: SC466622) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
RAESIDE FARMS LIMITED |
COMPANY INFORMATION |
For The Year Ended 30 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
RAESIDE FARMS LIMITED (REGISTERED NUMBER: SC466622) |
BALANCE SHEET |
30 December 2023 |
30.12.23 | 30.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RAESIDE FARMS LIMITED (REGISTERED NUMBER: SC466622) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 December 2023 |
1. | STATUTORY INFORMATION |
Raeside Farms Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Leasehold improvements - 4% on cost |
Plant and machinery etc - 15% and 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 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 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. |
Fixed assets investments |
The fixed asset investment represents the company's interest in a farming partnership. |
Going concern |
The directors have prepared the accounts on a going concern basis despite there being net liabilities at the balance sheet date as the directors are the company's main creditors and will not seek repayment of their loan until the company has sufficient funds. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
RAESIDE FARMS LIMITED (REGISTERED NUMBER: SC466622) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Leasehold | machinery |
improvements | etc | Totals |
£ | £ | £ |
COST |
At 31 December 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 December 2023 |
DEPRECIATION |
At 31 December 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
5. | FIXED ASSET INVESTMENTS |
Unlisted |
Investment |
£ |
COST |
At 30 December 2022 | 21,266 |
Share of profits | 60 |
At 30 December 2023 | 21,326 |
The unlisted investment comprises an interest in a farming partnership. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.23 | 30.12.22 |
£ | £ |
Trade debtors | 3,932 | 3,060 |
Other debtors |
Tax recoverable | 28,154 | 30,926 |
RAESIDE FARMS LIMITED (REGISTERED NUMBER: SC466622) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 December 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.23 | 30.12.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Directors' loan | 535,832 | 498,967 |
Other creditors |
8. | RELATED PARTY DISCLOSURES |
At 30 December 2023 the company's directors had provided the company with an interest free loan of £535,832 (2022, £498,967). There are no fixed repayment terms for this loan. |