Company Registration No. SC298523 (Scotland)
MCLAREN GROWERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
James Hair Group Limited
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
MCLAREN GROWERS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,127,616
6,435,380
Investments
4
10
10
4,127,626
6,435,390
Current assets
Stocks
262,990
270,900
Debtors
5
196,098
211,262
Cash at bank and in hand
1,935,689
112,843
2,394,777
595,005
Creditors: amounts falling due within one year
6
(1,674,525)
(3,922,983)
Net current assets/(liabilities)
720,252
(3,327,978)
Total assets less current liabilities
4,847,878
3,107,412
Provisions for liabilities
7
(223,900)
(235,500)
Net assets
4,623,978
2,871,912
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
4,623,878
2,871,812
Total equity
4,623,978
2,871,912

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 15 July 2025 and are signed on its behalf by:
Mr William D McLaren
Director
Company Registration No. SC298523
MCLAREN GROWERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

Mclaren Growers Limited is a private company limited by shares incorporated in Scotland. The registered office is Nether Strathkinness, ST ANDREWS, Fife, UK, KY16 9TY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises the invoiced value of potatoes supplied by the company, net of Value Added Tax and trade discounts.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and equipment
10% reducing balance
Tractors
25% reducing balance

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.

1.4
Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost comprises direct expenditure and an appropriate proportion of fixed and variable overheads.

1.5
Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.

MCLAREN GROWERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.8
Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts paid by the company to the funds in respect of the year.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

 

Government grants received in relation to assets are amortised at the same rate as the depreciation applied to the relevant asset.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 4 (2023 - 4).

MCLAREN GROWERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Tractors
Total
£
£
£
£
Cost
At 1 November 2023
5,493,171
1,054,115
320,750
6,868,036
Additions
-
0
69,794
-
0
69,794
Disposals
(2,262,490)
(8,250)
-
0
(2,270,740)
At 31 October 2024
3,230,681
1,115,659
320,750
4,667,090
Depreciation and impairment
At 1 November 2023
-
0
240,757
191,899
432,656
Depreciation charged in the year
-
0
87,490
19,328
106,818
At 31 October 2024
-
0
328,247
211,227
539,474
Carrying amount
At 31 October 2024
3,230,681
787,412
109,523
4,127,616
At 31 October 2023
5,493,171
813,358
128,851
6,435,380
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
10
10
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 November 2023 & 31 October 2024
10
Carrying amount
At 31 October 2024
10
At 31 October 2023
10
MCLAREN GROWERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
147,645
177,753
Other debtors
30,253
33,509
Prepayments and accrued income
18,200
-
0
196,098
211,262
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
9,835
102,003
Corporation tax
589,267
23,721
Government grants
191,500
212,778
Inter-company creditor
866,457
3,566,929
Directors current accounts
11,420
11,420
Accruals and deferred income
6,046
6,132
1,674,525
3,922,983
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
223,900
235,500
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
2024-10-312023-11-01falsefalsefalse17 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr J C McLarenMr W D McLarenMrs L McLarenMr M McLarenMrs Louise B McLaren2025-07-16SC2985232023-11-012024-10-31SC2985232024-10-31SC2985232023-10-31SC298523core:LandBuildingscore:OwnedOrFreeholdAssets2024-10-31SC298523core:PlantMachinery2024-10-31SC298523core:MotorVehicles2024-10-31SC298523core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-31SC298523core:PlantMachinery2023-10-31SC298523core:MotorVehicles2023-10-31SC298523core:CurrentFinancialInstrumentscore:WithinOneYear2024-10-31SC298523core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-31SC298523core:CurrentFinancialInstruments2024-10-31SC298523core:CurrentFinancialInstruments2023-10-31SC298523core:ShareCapital2024-10-31SC298523core:ShareCapital2023-10-31SC298523core:RetainedEarningsAccumulatedLosses2024-10-31SC298523core:RetainedEarningsAccumulatedLosses2023-10-31SC298523core:ShareCapitalOrdinaryShareClass12024-10-31SC298523core:ShareCapitalOrdinaryShareClass12023-10-31SC298523bus:Director22023-11-012024-10-31SC298523core:LandBuildingscore:OwnedOrFreeholdAssets2023-11-012024-10-31SC298523core:PlantMachinery2023-11-012024-10-31SC298523core:MotorVehicles2023-11-012024-10-31SC298523core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-31SC298523core:PlantMachinery2023-10-31SC298523core:MotorVehicles2023-10-31SC2985232023-10-31SC298523bus:PrivateLimitedCompanyLtd2023-11-012024-10-31SC298523bus:SmallCompaniesRegimeForAccounts2023-11-012024-10-31SC298523bus:FRS1022023-11-012024-10-31SC298523bus:AuditExemptWithAccountantsReport2023-11-012024-10-31SC298523bus:Director12023-11-012024-10-31SC298523bus:Director32023-11-012024-10-31SC298523bus:Director42023-11-012024-10-31SC298523bus:CompanySecretary12023-11-012024-10-31SC298523bus:FullAccounts2023-11-012024-10-31xbrli:purexbrli:sharesiso4217:GBP