Silverfin false false 30/11/2024 01/12/2023 30/11/2024 Julie Allison 08/03/2013 Peter James Allison 17/11/2009 07 May 2025 The principal activity of the Company during the financial year was that of collection and treatment of farm waste. SC368682 2024-11-30 SC368682 bus:Director1 2024-11-30 SC368682 bus:Director2 2024-11-30 SC368682 2023-11-30 SC368682 core:CurrentFinancialInstruments 2024-11-30 SC368682 core:CurrentFinancialInstruments 2023-11-30 SC368682 core:Non-currentFinancialInstruments 2024-11-30 SC368682 core:Non-currentFinancialInstruments 2023-11-30 SC368682 core:ShareCapital 2024-11-30 SC368682 core:ShareCapital 2023-11-30 SC368682 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC368682 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC368682 core:LandBuildings 2023-11-30 SC368682 core:OtherPropertyPlantEquipment 2023-11-30 SC368682 core:LandBuildings 2024-11-30 SC368682 core:OtherPropertyPlantEquipment 2024-11-30 SC368682 2022-11-30 SC368682 bus:OrdinaryShareClass1 2024-11-30 SC368682 2023-12-01 2024-11-30 SC368682 bus:FilletedAccounts 2023-12-01 2024-11-30 SC368682 bus:SmallEntities 2023-12-01 2024-11-30 SC368682 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 SC368682 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC368682 bus:Director1 2023-12-01 2024-11-30 SC368682 bus:Director2 2023-12-01 2024-11-30 SC368682 core:OtherPropertyPlantEquipment 2023-12-01 2024-11-30 SC368682 2022-12-01 2023-11-30 SC368682 core:LandBuildings 2023-12-01 2024-11-30 SC368682 core:CurrentFinancialInstruments 2023-12-01 2024-11-30 SC368682 core:Non-currentFinancialInstruments 2023-12-01 2024-11-30 SC368682 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 SC368682 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC368682 (Scotland)

PETER ALLISON AGRISERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

PETER ALLISON AGRISERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024

Contents

PETER ALLISON AGRISERVICES LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2024
PETER ALLISON AGRISERVICES LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,077,090 791,370
1,077,090 791,370
Current assets
Stocks 22,000 19,500
Debtors 4 74,165 119,423
Cash at bank and in hand 12,150 50,840
108,315 189,763
Creditors: amounts falling due within one year 5 ( 178,620) ( 163,928)
Net current (liabilities)/assets (70,305) 25,835
Total assets less current liabilities 1,006,785 817,205
Creditors: amounts falling due after more than one year 6 ( 326,244) ( 120,346)
Provision for liabilities 7, 8 ( 166,323) ( 168,161)
Net assets 514,218 528,698
Capital and reserves
Called-up share capital 9 3 3
Profit and loss account 514,215 528,695
Total shareholders' funds 514,218 528,698

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Peter Allison Agriservices Limited (registered number: SC368682) were approved and authorised for issue by the Board of Directors on 07 May 2025. They were signed on its behalf by:

Julie Allison
Director
Peter James Allison
Director
PETER ALLISON AGRISERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
PETER ALLISON AGRISERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Peter Allison Agriservices Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Ordie House, Oathlaw, Forfar, DD8 3PR, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The company has net current liabilities of £70,305. The directors consider it appropriate to prepare the accounts on a going concern basis. In coming to this conclusion they confirm that they will not seek repayment of their loan account and will support the company for at least twelve months from the approval of these financial statements.

Turnover

Turnover represents amounts receivable for the collection and treatment of farm waste net of VAT and trade discounts. Turnover is recognised on dispatch.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements 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.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 December 2023 103,595 1,134,627 1,238,222
Additions 0 552,000 552,000
Disposals 0 ( 270,682) ( 270,682)
At 30 November 2024 103,595 1,415,945 1,519,540
Accumulated depreciation
At 01 December 2023 0 446,852 446,852
Charge for the financial year 0 140,603 140,603
Disposals 0 ( 145,005) ( 145,005)
At 30 November 2024 0 442,450 442,450
Net book value
At 30 November 2024 103,595 973,495 1,077,090
At 30 November 2023 103,595 687,775 791,370

4. Debtors

2024 2023
£ £
Trade debtors 66,132 110,452
Other debtors 8,033 8,971
74,165 119,423

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 13,372
Trade creditors 34,126 27,552
Other taxation and social security 0 3,442
Obligations under finance leases and hire purchase contracts 118,188 85,791
Other creditors 16,306 33,771
178,620 163,928

Bank borrowings are secured by a floating charge over the company's assets.

Obligations under finance leases and hire purchase contracts are secured over the related assets.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 10,833 19,999
Obligations under finance leases and hire purchase contracts 315,411 100,347
326,244 120,346

Bank borrowings are secured by a floating charge over the company's assets.

Obligations under finance leases and hire purchase contracts are secured over the related assets.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 166,323 168,161

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 168,161) ( 108,973)
Credited/(charged) to the Statement of Income and Retained Earnings 1,838 ( 59,188)
At the end of financial year ( 166,323) ( 168,161)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
3 Ordinary shares of £ 1.00 each 3 3