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REGISTERED NUMBER: SC050860 (Scotland)








Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Prospect Pig Farmers Limited

Prospect Pig Farmers Limited (Registered number: SC050860)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Prospect Pig Farmers Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J C Sleightholme
Mrs C E Sleightholme





SECRETARY: Mrs C E Sleightholme





REGISTERED OFFICE: 272 Bath Street
Glasgow
G2 4JR





REGISTERED NUMBER: SC050860 (Scotland)





ACCOUNTANTS: Hardcastle France
Chartered Accountants
30 Yorkersgate
Malton
North Yorkshire
YO17 7AW

Prospect Pig Farmers Limited (Registered number: SC050860)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 530,118 490,139

CURRENT ASSETS
Debtors 5 2,589 1,167
Cash at bank and in hand 1,414 2,532
4,003 3,699
CREDITORS
Amounts falling due within one year 6 75,750 78,928
NET CURRENT LIABILITIES (71,747 ) (75,229 )
TOTAL ASSETS LESS CURRENT LIABILITIES 458,371 414,910

PROVISIONS FOR LIABILITIES 65,100 57,500
NET ASSETS 393,271 357,410

CAPITAL AND RESERVES
Called up share capital 7 17,600 17,600
Retained earnings 375,671 339,810
SHAREHOLDERS' FUNDS 393,271 357,410

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.

Prospect Pig Farmers Limited (Registered number: SC050860)

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 2 May 2025 and were signed on its behalf by:





J C Sleightholme - Director


Prospect Pig Farmers Limited (Registered number: SC050860)

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

1. STATUTORY INFORMATION

Prospect Pig Farmers Limited 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 as modified by the revaluation of certain assets.

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-2%Straight line
Plant and machinery etc-15%Reducing balance

No depreciation is provided on freehold land.

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.

Investment property
Investment properties are properties held to earn rentals and/or capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair value of investment properties are included in the Statement of Income and Retained Earnings in the period in which they arise.

3. EMPLOYEES AND DIRECTORS

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

Prospect Pig Farmers Limited (Registered number: SC050860)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 490,000 11,376 501,376
Revaluations 40,000 - 40,000
At 31 December 2024 530,000 11,376 541,376
DEPRECIATION
At 1 January 2024 - 11,237 11,237
Charge for year - 21 21
At 31 December 2024 - 11,258 11,258
NET BOOK VALUE
At 31 December 2024 530,000 118 530,118
At 31 December 2023 490,000 139 490,139

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2006 223,139 - 223,139
Valuation in 2007 20,000 - 20,000
Valuation in 2008 (30,000 ) - (30,000 )
Valuation in 2014 20,000 - 20,000
Valuation in 2016 10,000 - 10,000
Valuation in 2020 40,000 - 40,000
Valuation in 2021 20,000 - 20,000
Valuation in 2022 55,000 - 55,000
Valuation in 2023 30,000 - 30,000
Valuation in 2024 40,000 - 40,000
Cost 101,861 11,376 113,237
530,000 11,376 541,376

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 101,861 101,861
Aggregate depreciation 45,894 41,820

Freehold land and buildings were valued on an open market basis on 31 December 2024 by Mr J C Sleightholme, director .

Prospect Pig Farmers Limited (Registered number: SC050860)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,589 1,167

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 1,970 1,301
Other creditors 73,780 77,627
75,750 78,928

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
17,600 Ordinary 1 17,600 17,600

8. RELATED PARTY DISCLOSURES

At 31 December 2024 the company owed £67,801 (2023: £73,853) to the directors.

Dividends paid to the directors amounted to £4,928 (2023: £Nil).