Company Registration No. SC112567 (Scotland)
FEEDMIX LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
FEEDMIX LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4 - 5
FEEDMIX LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -
The directors present their annual report and financial statements for the year ended 30 June 2024.
Principal activities
The company remained dormant during the year and made neither a profit or loss.
Accordingly no profit and loss account is presented within these financial statements.
Results and dividends
The directors do not recommend payment of an ordinary dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
G McCombie
R Baxter
I D McRae
A Kenyon
S Kenyon
K Kenyon
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
R Baxter
Director
26 March 2025
FEEDMIX LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF FEEDMIX LIMITED
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Feedmix Limited for the year ended 30 June 2024 set out on pages 3 to 5 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:
https://icas.com/icas-framework-preparation-of-accounts.
It is your duty to ensure that Feedmix Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Feedmix Limited. You consider that Feedmix 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 accounts of Feedmix 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 accounts.
This report is made solely to the Board of Directors of Feedmix Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken in accordance with the requirements of ICAS as detailed at:
https://icas.com/icas-framework-preparation-of-accounts.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Feedmix Limited and its Board of Directors as a body, for our work or for this report.
Johnston Carmichael LLP
27 March 2025
Chartered Accountants
Strathlossie House
Elgin Business Park
1 Kirkhill Avenue
Elgin
IV30 8DE
FEEDMIX LIMITED
BALANCE SHEET
- 3 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
5,341,478
5,341,478
Net current assets
5,341,478
5,341,478
Capital and reserves
Called up share capital
4
48,000
48,000
Share premium account
57,000
57,000
Profit and loss reserves
5,236,478
5,236,478
Total equity
5,341,478
5,341,478
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
R Baxter
Director
Company Registration No. SC112567
FEEDMIX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information
Feedmix Limited is a private company limited by shares incorporated in Scotland. The registered office is Markethill, TURRIFF, AB53 4PA.
1.1
Accounting convention
These financial statements for the year ended 30 June 2024 are prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
In accordance with the transitional exemption in section 35 of FRS 102, Feedmix Limited has elected to retain its accounting policies for reported assets, liabilities and equity at the date of transition to FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is dormant and accordingly the financial statements have been prepared on a basis other than a going concern. Under this basis, assets are reflected at their net realisable value where less than cost. No adjustments were required to the carrying value of assets in the application of this basis of preparation.true
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors are initially measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
FEEDMIX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
5,341,478
5,341,478
4
Called up share capital
2024
2023
£
£
Issued, called up and fully paid
48,000 Ordinary shares of £1 each
48,000
48,000
5
Related party transactions
The company has provided a cross-company guarantee to the Bank of Scotland for amounts owned by fellow group companies.
The company has taken advantage of the exemption with FRS 102 Section 33 paragraph 33.1A, not to disclose transactions entered into between two or more members of the group, as the company is a wholly owned subsidiary of the group to which it is party to the transactions.
6
Parent company
The ultimate holding company is The Harbro Group Ltd., a company registered in Scotland, which owns 100% of the issued ordinary share capital of Feedmix Limited. A copy of the group financial statements can be obtained from the company's registered office.