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REGISTERED NUMBER: SC704199 (Scotland)




















Rachel's Farm Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2024






Rachel's Farm Ltd (Registered number: SC704199)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rachel's Farm Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mrs R Montague



REGISTERED OFFICE: 3 Clairmont Gardens
Glasgow
G3 7LW



REGISTERED NUMBER: SC704199 (Scotland)



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



BANKERS: Santander UK Plc
Bridle Road
Bootle
Merseyside
L30 4GB

Rachel's Farm Ltd (Registered number: SC704199)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 3,612 4,816
Tangible assets 5 22,877 1,360
26,489 6,176

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 6 781,733 593,604
Cash at bank 41,525 61,224
824,258 655,828
CREDITORS
Amounts falling due within one year 7 1,291,543 830,584
NET CURRENT LIABILITIES (467,285 ) (174,756 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(440,796

)

(168,580

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (440,896 ) (168,680 )
(440,796 ) (168,580 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Rachel's Farm Ltd (Registered number: SC704199)

Balance Sheet - continued
31 July 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 24 April 2025 and were signed by:





Mrs R Montague - Director


Rachel's Farm Ltd (Registered number: SC704199)

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

1. STATUTORY INFORMATION

Rachel's Farm 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
Turnover represents invoices sales of the management of recreational service companies excluding value added tax. It is recognised in the period in which the goods or services are provided.

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.

Website development is being amortised evenly over its estimated useful life of 5 years.

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 etc - 20% on cost

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

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.


Rachel's Farm Ltd (Registered number: SC704199)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

Going concern
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade in the foreseeable future. In order to do so the company will require the continued support of its director. The director will continue to support the company and is confident of the continued support of the bank and other creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023
and 31 July 2024 6,020
AMORTISATION
At 1 August 2023 1,204
Charge for year 1,204
At 31 July 2024 2,408
NET BOOK VALUE
At 31 July 2024 3,612
At 31 July 2023 4,816

Rachel's Farm Ltd (Registered number: SC704199)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 1,700
Additions 27,321
At 31 July 2024 29,021
DEPRECIATION
At 1 August 2023 340
Charge for year 5,804
At 31 July 2024 6,144
NET BOOK VALUE
At 31 July 2024 22,877
At 31 July 2023 1,360

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 21,780
Amounts owed by associates 759,943 548,765
Other debtors 21,790 23,059
781,733 593,604

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 74,380 158,251
Amounts owed to participating interests 13,865 -
Amounts owed to associates 913,331 420,966
Taxation and social security 71,221 51,938
Other creditors 218,746 199,429
1,291,543 830,584

Other creditors includes a loan from the director which is unsecured, interest-free, and repayable on demand.