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REGISTERED NUMBER: 07463030 (England and Wales)











Scoones Partnership Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






Scoones Partnership Limited (Registered number: 07463030)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Scoones Partnership Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: JR Scoones
AE Scoones





REGISTERED OFFICE: Moat House Farm
Cratfield
Halesworth
Suffolk
IP19 0QL





REGISTERED NUMBER: 07463030 (England and Wales)





ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Scoones Partnership Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Scoones Partnership Limited for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Scoones Partnership Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Scoones Partnership Limited and state those matters that we have agreed to state to the Board of Directors of Scoones Partnership Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scoones Partnership Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Scoones Partnership Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Scoones Partnership Limited. You consider that Scoones Partnership 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 financial statements of Scoones Partnership 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 financial statements.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


28 March 2025

Scoones Partnership Limited (Registered number: 07463030)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 416,256 434,965
416,256 434,965

CURRENT ASSETS
Stocks 787,540 793,738
Debtors 6 28,205 74,122
Cash at bank 248,294 93,565
1,064,039 961,425
CREDITORS
Amounts falling due within one year 7 597,426 527,316
NET CURRENT ASSETS 466,613 434,109
TOTAL ASSETS LESS CURRENT
LIABILITIES

882,869

869,074

CREDITORS
Amounts falling due after more than one
year

8

(327,594

)

(339,582

)

PROVISIONS FOR LIABILITIES 11 (39,184 ) (40,981 )
NET ASSETS 516,091 488,511

CAPITAL AND RESERVES
Allotted, issued and fully paid share capital 1,000 1,000
Retained earnings 515,091 487,511
SHAREHOLDERS' FUNDS 516,091 488,511

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

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

Scoones Partnership Limited (Registered number: 07463030)

Balance Sheet - continued
31 December 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 28 March 2025 and were signed on its behalf by:





JR Scoones - Director


Scoones Partnership Limited (Registered number: 07463030)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Scoones Partnership Limited 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.

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.

The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate to prepare accounts on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - straight line over 100 years
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Tractors and harvesters - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Freehold land included within freehold property is not depreciated.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

The company has the following biological assets which are valued as disclosed:

Livestock - beef cattle - valued at their estimated cost with reference to current market values

Livestock - calves - valued at their estimated cost including an apportionment of overheads


Scoones Partnership Limited (Registered number: 07463030)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued
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.

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.

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.

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

The average number of employees during the year was 4 (2023 - 4 ) .

Scoones Partnership Limited (Registered number: 07463030)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 788
AMORTISATION
At 1 January 2024
and 31 December 2024 788
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2024 284,893 141,038 389,833
Additions - - -
At 31 December 2024 284,893 141,038 389,833
DEPRECIATION
At 1 January 2024 24,506 126,472 281,546
Charge for year 2,042 10,608 16,243
At 31 December 2024 26,548 137,080 297,789
NET BOOK VALUE
At 31 December 2024 258,345 3,958 92,044
At 31 December 2023 260,387 14,566 108,287

Scoones Partnership Limited (Registered number: 07463030)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


5. TANGIBLE FIXED ASSETS - continued

Tractors
and Motor
harvesters vehicles Totals
£    £    £   
COST
At 1 January 2024 153,240 24,132 993,136
Additions - 24,000 24,000
At 31 December 2024 153,240 48,132 1,017,136
DEPRECIATION
At 1 January 2024 102,088 23,559 558,171
Charge for year 7,673 6,143 42,709
At 31 December 2024 109,761 29,702 600,880
NET BOOK VALUE
At 31 December 2024 43,479 18,430 416,256
At 31 December 2023 51,152 573 434,965

Included in the cost of freehold property is land of £80,676 (2023: 80,676) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,428 52,747
Prepayments and accrued income 5,774 -
Corporation tax repayable 1,200 1,200
VAT 16,803 20,175
28,205 74,122

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,000 10,500
Trade creditors 408,065 384,543
Corporation tax payable 16,622 5,374
Other creditors 690 690
Directors' current accounts 145,761 122,749
Accruals and deferred income 15,288 3,460
597,426 527,316

The directors' current accounts are interest free and repayable on demand.

Scoones Partnership Limited (Registered number: 07463030)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 11,000 -
Bank loans -2-5 years 33,000 48,000
Bank loans more than 5 years 46,733 54,721
Bank loans more than 5 years
non-instalments 236,861 236,861
327,594 339,582

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years
non-instalments 236,861 236,861
236,861 236,861

Repayable by instalments
Bank loans more than 5 years 46,733 54,721

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 1,575 9,459
Between one and five years - 1,575
1,575 11,034

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 338,594 350,082

As at the beginning and end of the year there were three loans owed to AMC. Two of the three loans are interest only and one is on a repayment basis. A legal charge dated 23 February 2012 is held over the assets of the company.

Scoones Partnership Limited (Registered number: 07463030)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Deferred tax - accelerated capital allowances 37,868 39,343
Deferred tax - depreciation in stock 1,719 1,977
Deferred tax - other timing
differences (403 ) (339 )
39,184 40,981

Deferred
tax
£   
Balance at 1 January 2024 40,981
Provided during year (1,797 )
Balance at 31 December 2024 39,184