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REGISTERED NUMBER: SC033996 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Denis Cadzow and Company Limited

Denis Cadzow and Company Limited (Registered number: SC033996)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Denis Cadzow and Company Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: J M Cadzow
T S Young
I Young



SECRETARY: A H & Co Ltd



REGISTERED OFFICE: The Farm House
Duncrahill Pencaitland
Tranent
East Lothian
EH34 5ER



REGISTERED NUMBER: SC033996 (Scotland)



ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG



BANKERS: Weatherbys Bank Ltd
Sanders Road
Wellingborough
Northamptonshire
NN8 4BX

Denis Cadzow and Company Limited (Registered number: SC033996)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,683,259 9,763,520
Investments 5 261,820 295,020
9,945,079 10,058,540

CURRENT ASSETS
Stocks 274,651 244,766
Debtors 6 144,643 25,000
Cash at bank 186 186
419,480 269,952
CREDITORS
Amounts falling due within one year 7 547,418 400,797
NET CURRENT LIABILITIES (127,938 ) (130,845 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,817,141

9,927,695

CREDITORS
Amounts falling due after more than one year 8 (720,359 ) (756,075 )

PROVISIONS FOR LIABILITIES 10 (899,609 ) (918,762 )
NET ASSETS 8,197,173 8,252,858

CAPITAL AND RESERVES
Called up share capital 11 42,000 42,000
Revaluation reserve 8,068,553 8,119,706
Fair value transfer 567,616 413,748
Retained earnings (480,996 ) (322,596 )
SHAREHOLDERS' FUNDS 8,197,173 8,252,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Denis Cadzow and Company Limited (Registered number: SC033996)

Balance Sheet - continued
31 October 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2025 and were signed on its behalf by:





I Young - Director


Denis Cadzow and Company Limited (Registered number: SC033996)

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

1. STATUTORY INFORMATION

Denis Cadzow and Company 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.

The accounts have been prepared on a going concern basis, the acceptability of which is dependant on the continuing support of the company's directors and bankers.

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

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

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

Freehold property-0% on cost
Long leasehold-4% on cost
Improvements to property-2% on cost
Plant and machinery-20% on cost
Fixtures and fittings-20% on cost
Motor vehicles-20% on cost
Computer equipment- 33% on cost

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.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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. Crops are valued at cost of growing and fertilising. Horses are valued at the lower of cost and net realisable value or director valuation.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.


Denis Cadzow and Company Limited (Registered number: SC033996)

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

2. ACCOUNTING POLICIES - continued
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.

Investments
Unquoted investments are valued at fair value. Provision is made for any permanent diminution in value.

Within investments there is livestock which has been measured at fair value. Fair value has been calculated based on the evidence available from an active market, taking into account the expected selling price less estimated costs to sell.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small 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.

3. EMPLOYEES AND DIRECTORS

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

Denis Cadzow and Company Limited (Registered number: SC033996)

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold Long to Plant and
property leasehold property machinery
£    £    £    £   
COST OR VALUATION
At 1 November 2023 7,833,211 1,756,789 15,084 642,482
Additions - - - 17,990
Disposals (13,410 ) - - (2,459 )
At 31 October 2024 7,819,801 1,756,789 15,084 658,013
DEPRECIATION
At 1 November 2023 - 11,644 899 471,503
Charge for year - 11,644 300 72,843
Eliminated on disposal - - - (2,405 )
At 31 October 2024 - 23,288 1,199 541,941
NET BOOK VALUE
At 31 October 2024 7,819,801 1,733,501 13,885 116,072
At 31 October 2023 7,833,211 1,745,145 14,185 170,979

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2023 19,536 62,800 5,942 10,335,844
Additions - - - 17,990
Disposals - - - (15,869 )
At 31 October 2024 19,536 62,800 5,942 10,337,965
DEPRECIATION
At 1 November 2023 19,536 62,800 5,942 572,324
Charge for year - - - 84,787
Eliminated on disposal - - - (2,405 )
At 31 October 2024 19,536 62,800 5,942 654,706
NET BOOK VALUE
At 31 October 2024 - - - 9,683,259
At 31 October 2023 - - - 9,763,520

Included in cost or valuation of land and buildings is freehold land of £ 7,831,987 (2023 - £ 7,831,987 ) which is not depreciated.

Denis Cadzow and Company Limited (Registered number: SC033996)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 October 2024 is represented by:

Improvements
Freehold Long to Plant and
property leasehold property machinery
£    £    £    £   
Valuation in 1987 1,537,028 327,376 - -
Valuation in 2002 80,000 419,244 - -
Valuation in 2008 1,566,768 770,285 - -
Valuation in 2013 2,406,540 35,697 - -
Valuation in 2022 2,188,597 196,444 - -
Cost 40,868 7,743 15,084 658,013
7,819,801 1,756,789 15,084 658,013

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 1987 - - - 1,864,404
Valuation in 2002 - - - 499,244
Valuation in 2008 - - - 2,337,053
Valuation in 2013 - - - 2,442,237
Valuation in 2022 - - - 2,385,041
Cost 19,536 62,800 5,942 809,986
19,536 62,800 5,942 10,337,965

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

31.10.24 31.10.23
£    £   
Cost 185,431 185,431
Aggregate depreciation 55,436 55,436

Value of land in freehold land and buildings 51,422 51,422

Land and buildings were valued on an open market basis on 31 October 2022 by Davidson & Robertson, Chartered Surveyor .

On transition to FRS 102 the company took advantage of the transitional relief to use a previous valuation as deemed cost.

Denis Cadzow and Company Limited (Registered number: SC033996)

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

5. FIXED ASSET INVESTMENTS

Investments were as follows:
31.10.24 31.10.23
£ £
Unlisted Investments 220 220
Herd 261,600 294,800
261,820 295,020

Reconciliation of the carrying amounts of biological assets:

Bulls Cows Heifers Gimmers Rams Ewes Total
£ £ £ £ £ £ £
Balance at 1st November 2023 26,000 169,500 82,600 4,400 1,500 10,800 294,800

Purchases 10,400 144,500 1,500 - 700 6,650 163,750

Sales

(10,400)

(62,900)
(135,00
0)

-

-

(8,050)

(216,350)
Transferred (5,200) (98,600) 99,000 (2,100) - (3,150) (10,050)

Change in fair value less selling
cost

-

22,600

5,900

(1,100)

250

1,800

29,450

Balance at 31st October 2024 20,800 175,100 54,000 1,200 2,450 8,050 261,600

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 108,922 -
Other debtors 35,721 25,000
144,643 25,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 475,710 332,770
Hire purchase contracts 26,127 32,031
Trade creditors 31,197 19,650
Taxation and social security 3,088 5,180
Other creditors 11,296 11,166
547,418 400,797

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans 671,060 685,935
Hire purchase contracts 45,594 65,817
Other creditors 3,705 4,323
720,359 756,075

Denis Cadzow and Company Limited (Registered number: SC033996)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank overdrafts 475,710 332,770
Bank loans 671,060 685,935
1,146,770 1,018,705

The bank overdraft and loan are secured by a first ranked standard security over Duncrahill Farm which is owned by the company and a bond and floating charge over all assets and undertakings of the company.

10. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax
Accelerated capital allowances 12,097 26,490
Other timing differences 887,512 892,272
899,609 918,762

Deferred
tax
£   
Balance at 1 November 2023 918,762
Provided during year (19,153 )
Balance at 31 October 2024 899,609

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
21,840 A Ordinary £1 21,840 21,840
10,080 B Ordinary £1 10,080 10,080
10,080 C Ordinary £1 10,080 10,080
42,000 42,000

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 October 2024 the company owed the directors £7,908 (2023: £7,908).

13. RELATED PARTY DISCLOSURES

There were no related party transactions during the year (2023: none).

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J M Cadzow.