Acorah Software Products - Accounts Production 16.5.460 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 SC349282 Mrs Kay Shaw Mrs Janine O'Connor Mrs Kay Shaw true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC349282 2024-03-31 SC349282 2025-03-31 SC349282 2024-04-01 2025-03-31 SC349282 frs-core:CurrentFinancialInstruments 2025-03-31 SC349282 frs-core:ComputerEquipment 2025-03-31 SC349282 frs-core:ComputerEquipment 2024-04-01 2025-03-31 SC349282 frs-core:ComputerEquipment 2024-03-31 SC349282 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-03-31 SC349282 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 SC349282 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 SC349282 frs-core:MotorVehicles 2025-03-31 SC349282 frs-core:MotorVehicles 2024-04-01 2025-03-31 SC349282 frs-core:MotorVehicles 2024-03-31 SC349282 frs-core:PlantMachinery 2025-03-31 SC349282 frs-core:PlantMachinery 2024-04-01 2025-03-31 SC349282 frs-core:PlantMachinery 2024-03-31 SC349282 frs-core:RevaluationReserve 2024-03-31 SC349282 frs-core:RevaluationReserve 2025-03-31 SC349282 frs-core:ShareCapital 2025-03-31 SC349282 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 SC349282 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC349282 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 SC349282 frs-bus:SmallEntities 2024-04-01 2025-03-31 SC349282 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC349282 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC349282 frs-bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC349282 frs-bus:OrdinaryShareClass1 2025-03-31 SC349282 1 2024-04-01 2025-03-31 SC349282 frs-bus:Director1 2024-04-01 2025-03-31 SC349282 frs-bus:Director1 2024-03-31 SC349282 frs-bus:Director1 2025-03-31 SC349282 frs-bus:Director2 2024-04-01 2025-03-31 SC349282 frs-bus:CompanySecretary1 2024-04-01 2025-03-31 SC349282 1 2024-04-01 2025-03-31 SC349282 frs-core:CurrentFinancialInstruments 2 2025-03-31 SC349282 frs-countries:Scotland 2024-04-01 2025-03-31 SC349282 2023-03-31 SC349282 2024-03-31 SC349282 2023-04-01 2024-03-31 SC349282 frs-core:CurrentFinancialInstruments 2024-03-31 SC349282 frs-core:RevaluationReserve 2024-03-31 SC349282 frs-core:ShareCapital 2024-03-31 SC349282 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC349282 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC349282 1 2023-04-01 2024-03-31 SC349282 2 2023-04-01 2024-03-31 SC349282 frs-core:CurrentFinancialInstruments 2 2024-03-31
Registered number: SC349282
Peattie Farms Limited
Financial Statements
For The Year Ended 31 March 2025
Gillespie's
Chartered Accountants
33 Leslie Street
Blairgowrie
Perthshire
PH10 6AW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC349282
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 82,863 94,055
82,863 94,055
CURRENT ASSETS
Stocks 5 17,484 19,265
Debtors 6 14,893 27,481
Investments 7 340 340
Cash at bank and in hand 40,995 151,059
73,712 198,145
Creditors: Amounts Falling Due Within One Year 8 (26,832 ) (135,370 )
NET CURRENT ASSETS (LIABILITIES) 46,880 62,775
TOTAL ASSETS LESS CURRENT LIABILITIES 129,743 156,830
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (17,716 ) (20,514 )
NET ASSETS 112,027 136,316
CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 12 105,845 105,845
Profit and Loss Account 6,181 30,470
SHAREHOLDERS' FUNDS 112,027 136,316
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Kay Shaw
Director
21st August 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Peattie Farms Limited is a private company, limited by shares, incorporated in Scotland, registered number SC349282 . The registered office is Peattie Farm, Coupar Angus, BLAIRGOWRIE, Perthshire, PH13 9LH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% on reducing balance
Plant & Machinery 15% and 20% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 33% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Directors 2 1
Staff - 1
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 200,314 205,575 145,869 597 552,355
Additions - 4,497 - - 4,497
As at 31 March 2025 200,314 210,072 145,869 597 556,852
Depreciation
As at 1 April 2024 180,939 149,640 127,124 597 458,300
Provided during the period 1,938 9,065 4,686 - 15,689
As at 31 March 2025 182,877 158,705 131,810 597 473,989
Net Book Value
As at 31 March 2025 17,437 51,367 14,059 - 82,863
As at 1 April 2024 19,375 55,935 18,745 - 94,055
5. Stocks
2025 2024
£ £
Stocks 17,484 19,265
Page 4
Page 5
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 19,538
Prepayments and accrued income 8,860 7,911
Other debtors 4,543 32
VAT 1,490 -
14,893 27,481
7. Current Asset Investments
2025 2024
£ £
Unlisted investments 340 340
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 454 2,052
Corporation tax (5,299 ) 12,624
VAT - 2,849
Deferred income 10,263 9,527
Accrued expenses 6,643 2,050
Directors' loan accounts 14,771 106,268
26,832 135,370
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Other timing differences 17,716 20,514
10. Share Capital
2025 2024
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1 each 1 1
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mrs Kay Shaw 106,268 5 91,502 - 14,771
The above loan is unsecured, interest free and repayable on demand.
Page 5
Page 6
12. Reserves
Revaluation Reserve
£
As at 1 April 2024 105,845
As at 31 March 2025 105,845
13. Ultimate Controlling Party
The ultimate controlling party is Mrs K Shaw who holds 100% of the share capital.
Page 6