Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-31true2024-06-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC371377 2024-06-01 2025-03-31 SC371377 2023-06-01 2024-05-31 SC371377 2025-03-31 SC371377 2024-05-31 SC371377 c:Director1 2024-06-01 2025-03-31 SC371377 c:Director2 2024-06-01 2025-03-31 SC371377 c:RegisteredOffice 2024-06-01 2025-03-31 SC371377 d:PlantMachinery 2024-06-01 2025-03-31 SC371377 d:PlantMachinery 2025-03-31 SC371377 d:PlantMachinery 2024-05-31 SC371377 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-06-01 2025-03-31 SC371377 d:CurrentFinancialInstruments 2025-03-31 SC371377 d:CurrentFinancialInstruments 2024-05-31 SC371377 d:Non-currentFinancialInstruments 2025-03-31 SC371377 d:Non-currentFinancialInstruments 2024-05-31 SC371377 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 SC371377 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 SC371377 d:ShareCapital 2025-03-31 SC371377 d:ShareCapital 2024-05-31 SC371377 d:RetainedEarningsAccumulatedLosses 2025-03-31 SC371377 d:RetainedEarningsAccumulatedLosses 2024-05-31 SC371377 c:OrdinaryShareClass1 2024-06-01 2025-03-31 SC371377 c:OrdinaryShareClass1 2025-03-31 SC371377 c:OrdinaryShareClass1 2024-05-31 SC371377 c:OrdinaryShareClass2 2024-06-01 2025-03-31 SC371377 c:OrdinaryShareClass2 2025-03-31 SC371377 c:OrdinaryShareClass2 2024-05-31 SC371377 c:OrdinaryShareClass3 2024-06-01 2025-03-31 SC371377 c:OrdinaryShareClass3 2025-03-31 SC371377 c:OrdinaryShareClass3 2024-05-31 SC371377 c:OrdinaryShareClass4 2024-06-01 2025-03-31 SC371377 c:OrdinaryShareClass4 2025-03-31 SC371377 c:OrdinaryShareClass4 2024-05-31 SC371377 c:FRS102 2024-06-01 2025-03-31 SC371377 c:AuditExempt-NoAccountantsReport 2024-06-01 2025-03-31 SC371377 c:FullAccounts 2024-06-01 2025-03-31 SC371377 c:PrivateLimitedCompanyLtd 2024-06-01 2025-03-31 SC371377 e:PoundSterling 2024-06-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC371377










LETHAM FARM FIFE LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

 
LETHAM FARM FIFE LIMITED
 

COMPANY INFORMATION


Directors
Mr A B Peddie 
Mrs J Peddie 




Registered number
SC371377



Registered office
Letham Farm

Leven

Fife

KY8 5NN




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
LETHAM FARM FIFE LIMITED
REGISTERED NUMBER: SC371377

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

31 March
31 March
31 May
31 May
2025
2025
2024
2024
£
£
£
£

FIXED ASSETS
  

Tangible assets
 4 
82,690
99,230

  
82,690
99,230

CURRENT ASSETS
  

Debtors
 5 
724,514
612,956

Cash at bank and in hand
  
60,832
57,905

  
785,346
670,861

Creditors: amounts falling due within one year
 6 
(122,796)
(112,329)

NET CURRENT ASSETS
  
 
 
662,550
 
 
558,532

TOTAL ASSETS LESS CURRENT LIABILITIES
  
745,240
657,762

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(20,673)
(24,808)

  
 
 
(20,673)
 
 
(24,808)

NET ASSETS
  
724,567
632,954


CAPITAL AND RESERVES
  

Called up share capital 
 7 
10,000
10,000

Profit and loss account
  
714,567
622,954

  
724,567
632,954


Page 1

 
LETHAM FARM FIFE LIMITED
REGISTERED NUMBER: SC371377

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 July 2025.




Mr A B Peddie
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LETHAM FARM FIFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

1.


General information

Letham Farm Fife Limited is a private company, limited by shares, incorporated in Scotland with registration number SC371377. The registered office is Letham Farm, Leven, Fife,  KY8 5NN.
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Turnover

The company's business is farming through participation in the farming partnership of                        A B Peddie (Letham). Turnover comprises of the company's share of partnership profits and losses for each year. Additional income is generated by hire of machinery. 

 
2.3

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 3

 
LETHAM FARM FIFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20% Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2024 - 2).

Page 4

 
LETHAM FARM FIFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

4.


Tangible fixed assets







Plant and machinery

£



COST OR VALUATION


At 1 June 2024
403,347



At 31 March 2025

403,347



DEPRECIATION


At 1 June 2024
304,117


Charge for the period on owned assets
16,540



At 31 March 2025

320,657



NET BOOK VALUE



At 31 March 2025
82,690



At 31 May 2024
99,230


5.


Debtors

31 March
31 May
2025
2024
£
£

DUE AFTER MORE THAN ONE YEAR

Other debtors
600,000
500,000

600,000
500,000

DUE WITHIN ONE YEAR

Other debtors
124,514
112,956

724,514
612,956


Page 5

 
LETHAM FARM FIFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

6.


Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR

31 March
31 May
2025
2024
£
£

Other taxation and social security
33,975
25,557

Other creditors
87,171
85,172

Accruals and deferred income
1,650
1,600

122,796
112,329



7.


Share capital

31 March
31 May
2025
2024
£
£
ALLOTTED, CALLED UP AND FULLY PAID



5,100 (2024 - 5,100) Ordinary class A shares shares of £1.00 each
5,100
5,100
3,900 (2024 - 3,900) Ordinary class B shares shares of £1.00 each
3,900
3,900
500 (2024 - 500) Ordinary class C shares shares of £1.00 each
500
500
500 (2024 - 500) Ordinary class D shares shares of £1.00 each
500
500

10,000

10,000



Page 6