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REGISTERED NUMBER: SC054690 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

CLARENCE MURRAY (POTATO GROWERS AND
FARMERS) LIMITED

CLARENCE MURRAY (POTATO GROWERS AND
FARMERS) LIMITED (REGISTERED NUMBER: SC054690)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLARENCE MURRAY (POTATO GROWERS AND
FARMERS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: B Carnegie
D Carnegie



REGISTERED OFFICE: 2 George Square
Dunfermline
KY11 8QF



REGISTERED NUMBER: SC054690 (Scotland)



ACCOUNTANTS: Clement Millar
Spiersbridge House
1 Spiersbridge Way
Glasgow
G46 8NG



SOLICITORS: WJM LLP
2 George Square
Dunfermline
KY11 8QF

CLARENCE MURRAY (POTATO GROWERS AND
FARMERS) LIMITED (REGISTERED NUMBER: SC054690)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,906,333 2,045,528
Investments 5 104,655 104,655
2,010,988 2,150,183

CURRENT ASSETS
Stocks 6 621,653 584,145
Debtors 7 915,601 548,891
Cash at bank and in hand 151,848 129,776
1,689,102 1,262,812
CREDITORS
Amounts falling due within one year 8 5,646,461 5,292,740
NET CURRENT LIABILITIES (3,957,359 ) (4,029,928 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,946,371

)

(1,879,745

)

CREDITORS
Amounts falling due after more than one year 9 130,625 213,125
NET LIABILITIES (2,076,996 ) (2,092,870 )

CAPITAL AND RESERVES
Called up share capital 85,000 85,000
Revaluation reserve 10 102,187 102,187
Other reserves 15,000 15,000
Retained earnings (2,279,183 ) (2,295,057 )
SHAREHOLDERS' FUNDS (2,076,996 ) (2,092,870 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

CLARENCE MURRAY (POTATO GROWERS AND
FARMERS) LIMITED (REGISTERED NUMBER: SC054690)

BALANCE SHEET - continued
30 JUNE 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 Board of Directors and authorised for issue on 3 June 2025 and were signed on its behalf by:





B Carnegie - Director


CLARENCE MURRAY (POTATO GROWERS AND
FARMERS) LIMITED (REGISTERED NUMBER: SC054690)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Clarence Murray (Potato Growers and 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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. As at balance sheet date the company's current liabilities exceeded its current assets by £3,957,359 (2023: £4,029,928). The company is thus dependent on the continued financial support of its bankers and other creditors and meets its day to day working capital requirements through an overdraft facility which, in common with all such facilities, is repayable on demand. The directors are confident of this continuing support and of the company's long term trading prospects and on this basis consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of financial support.

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

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 - on written down value
Plant and machinery - at variable rates on reducing balance

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

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.

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.

3. EMPLOYEES AND DIRECTORS

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

CLARENCE MURRAY (POTATO GROWERS AND
FARMERS) LIMITED (REGISTERED NUMBER: SC054690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 July 2023 808,975 2,384,804 52,125 3,245,904
Additions - 8,754 - 8,754
At 30 June 2024 808,975 2,393,558 52,125 3,254,658
DEPRECIATION
At 1 July 2023 189,457 974,629 36,290 1,200,376
Charge for year 16,179 129,395 2,375 147,949
At 30 June 2024 205,636 1,104,024 38,665 1,348,325
NET BOOK VALUE
At 30 June 2024 603,339 1,289,534 13,460 1,906,333
At 30 June 2023 619,518 1,410,175 15,835 2,045,528

5. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 July 2023
and 30 June 2024 104,655
NET BOOK VALUE
At 30 June 2024 104,655
At 30 June 2023 104,655

6. STOCKS
2024 2023
£    £   
Stocks 621,653 584,145

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 711,945 477,875
Prepayments and accrued income - 36,176
VAT 203,656 34,840
915,601 548,891

CLARENCE MURRAY (POTATO GROWERS AND
FARMERS) LIMITED (REGISTERED NUMBER: SC054690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 82,500 82,500
Trade creditors 3,517,313 3,180,695
Social security and other taxes 3,583 2,661
Other creditors 2,017,683 2,017,683
Accruals and deferred income 25,382 9,201
5,646,461 5,292,740

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 130,625 213,125

10. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 102,187