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REGISTRAR OF COMPANIES

Registration number: SC194263

J. G. Orr Limited

Unaudited Financial Statements

30 September 2024

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J. G. Orr Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
J. G. Orr Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J. G. Orr Limited for the year ended 30 September 2024 as set out on pages 2 to 9 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 at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of J. G. Orr Limited, as a body, in accordance with the terms of our engagement letter dated 12 December 2022. Our work has been undertaken solely to prepare for your approval the accounts of J. G. Orr Limited and state those matters that we have agreed to state to the Board of Directors of J. G. Orr Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J. G. Orr Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that J. G. Orr 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 of J. G. Orr Limited. You consider that J. G. Orr 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 J. G. Orr 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.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

3 March 2025

 

J. G. Orr Limited

(Registration number: SC194263)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,308,075

4,513,253

Investments

5

770,603

460,053

 

6,078,678

4,973,306

Current assets

 

Stocks

1,070,000

966,000

Debtors

6

2,386,136

1,654,132

Investments

7

100

100

Cash at bank and in hand

 

1,017,389

233,362

 

4,473,625

2,853,594

Creditors: Amounts falling due within one year

8

(2,066,382)

(900,006)

Net current assets

 

2,407,243

1,953,588

Total assets less current liabilities

 

8,485,921

6,926,894

Creditors: Amounts falling due after more than one year

8

(181)

(241)

Provisions for liabilities

(367,824)

(167,551)

Net assets

 

8,117,916

6,759,102

Capital and reserves

 

Allotted, called up and fully paid share capital

112

112

Profit and loss account

8,117,804

6,758,990

Total equity

 

8,117,916

6,759,102

 

J. G. Orr Limited

(Registration number: SC194263)
Balance Sheet as at 30 September 2024 (continued)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 March 2025
 

.........................................
J G Orr
Director

   
     
 

J. G. Orr Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Milton of Blebo
CUPAR
KY15 5TH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Government grants

Government grants such as the basic payment scheme are included in the profit and loss account when all the necessary conditions for receipt have been met.


Other grants
Other grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets on a basis consistent with the depreciation policy.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

J. G. Orr Limited

Notes to the Financial Statements for the Year Ended 30 September 2024 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Nil and 10% reducing balance basis

Plant and equipment

15% and 25% reducing balance basis

Motor vehicles

25% reducing balance basis

Furniture, fittings and office equipment

25% reducing balance basis

Included in land and buildings is short leasehold property which relates to tenants improvements on land leased from the director. As the long term intention is for the farming operation to continue it is deemed a true and fair view to depreciate the assets at 10% reducing balance over their useful economic life.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Trading stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. The cost of livestock represents the purchase cost plus any additional costs of rearing the animal. Net realisable value is based on selling price less anticipated selling costs. Crop stock is valued at fair value less any anticipated costs to sell.

 

J. G. Orr Limited

Notes to the Financial Statements for the Year Ended 30 September 2024 (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2023 - 17).

 

J. G. Orr Limited

Notes to the Financial Statements for the Year Ended 30 September 2024 (continued)

4

Tangible assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 October 2023

3,853,119

3,039,947

17,413

6,678

6,917,157

Additions

-

989,979

-

1,475

991,454

At 30 September 2024

3,853,119

4,029,926

17,413

8,153

7,908,611

Depreciation

At 1 October 2023

31,277

2,352,795

15,025

4,807

2,403,904

Charge for the year

2,213

193,090

597

732

196,632

At 30 September 2024

33,490

2,545,885

15,622

5,539

2,600,536

Carrying amount

At 30 September 2024

3,819,629

1,484,041

1,791

2,614

5,308,075

At 30 September 2023

3,821,842

687,152

2,388

1,871

4,513,253

 

J. G. Orr Limited

Notes to the Financial Statements for the Year Ended 30 September 2024 (continued)

5

Investments

2024
£

2023
£

Investments in joint ventures

100

50

Investments in associates

770,503

460,003

770,603

460,053

Joint ventures

£

Cost

At 1 October 2023

50

Additions

50

At 30 September 2024

100

Carrying amount

At 30 September 2024

100

At 30 September 2023

50

Associates

£

Cost

At 1 October 2023

460,003

Additions

310,500

At 30 September 2024

770,503

Carrying amount

At 30 September 2024

770,503

At 30 September 2023

460,003

 

J. G. Orr Limited

Notes to the Financial Statements for the Year Ended 30 September 2024 (continued)

6

Debtors

2024
£

2023
£

Trade debtors

123

354,196

Amounts owed by group undertakings and undertakings in which the company has a participating interest

557,568

607,568

Other debtors

1,828,445

692,368

2,386,136

1,654,132

7

Current asset investments

2024
£

2023
£

Other investments

100

100

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

332,666

344,942

Trade creditors

 

1,257,309

226,294

Taxation and social security

 

36,158

29,622

Corporation tax liability

 

253,097

155,139

Other creditors

 

187,152

144,009

 

2,066,382

900,006

Due after one year

 

Other creditors

 

181

241

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

332,666

344,942