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Registered number: SC330346 GAMRIE FARMS LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
GAMRIE FARMS LIMITED COMPANY INFORMATION
DIRECTORS | D R Allan
| S D Allan
COMPANY SECRETARY | Mrs H Allan
REGISTERED NUMBER | SC330346
REGISTERED OFFICE | Westby
| 64 West High Street
| Forfar
| Angus
| DD8 1BJ
ACCOUNTANTS | EQ Accountants Limited
| Chartered Accountants
| Westby
| 64 West High Street
| Forfar
| Angus
| DD8 1BJ
GAMRIE FARMS LIMITED REGISTERED NUMBER: SC330346 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
|  | £ |  | £
FIXED ASSETS |  |  |  |  |
Tangible assets | 4 |  | 4,445,510 |  | 4,270,346
Investments | 5 |  | 19,150 |  | 19,150
|  |  | 4,464,660 |  | 4,289,496
CURRENT ASSETS |  |  |  |  |
Debtors | 6 | 3,938,519 |  | 2,950,692 |
Bank & cash balances |  | 19,619 |  | 2,946 |
|  | 3,958,138 |  | 2,953,638 |
Creditors: amounts falling due within one year | 7 | (1,325,094) |  | (2,649,286) |
NET CURRENT ASSETS |  |  | 2,633,044 |  | 304,352
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 7,097,704 |  | 4,593,848
Creditors: amounts falling due after more than one year |  |  | (1,692,289) |  | (80,000)
PROVISIONS FOR LIABILITIES |  |  |  |  |
Deferred tax |  | (88,963) |  | - |
|  |  | (88,963) |  | -
NET ASSETS |  |  | 5,316,452 |  | 4,513,848
CAPITAL AND RESERVES |  |  |  |  |
Called up share capital | 10 |  | 100 |  | 100
Profit and loss account |  |  | 5,316,352 |  | 4,513,748
|  |  | 5,316,452 |  | 4,513,848
Page 1
GAMRIE FARMS LIMITED REGISTERED NUMBER: SC330346 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 year 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 30 July 2025.
D R Allan | S D Allan
Director | Director
The notes on pages 3 to 7 form part of these financial statements. Page 2
GAMRIE FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | GENERAL INFORMATION
Gamrie Farms Limited is a private company, limited by shares, domiciled in Scotland, registration number SC330346. The registered office is Westby, 64 West High Street, Forfar, Angus, DD8 1BJ. The principal place of business is Mains of Melrose, Gamrie, Banff, AB45 3EQ. The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £. 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 | CURRENT AND DEFERRED TAXATION
The tax expense for the year 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
GAMRIE FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.3 | 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, as follows. Depreciation is provided on the following basis:
|  |  |  | Heritable property | - | No depreciation
|  |  |  | Plant & machinery | - | 12.5 % Straight line
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.
| 2.4 | VALUATION OF INVESTMENTS
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.5 | PROVISIONS FOR LIABILITIES
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.6 | FINANCIAL INSTRUMENTS
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
| 2.7 | 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. Page 4
GAMRIE FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. | EMPLOYEES
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
4. | TANGIBLE FIXED ASSETS
|  | Heritable Property | Plant & machinery | Total
|  | £ | £ | £
| COST OR VALUATION |  |  |
| At 1 April 2024 | 4,089,659 | 236,000 | 4,325,659
| Additions | - | 226,000 | 226,000
| At 31 March 2025 | 4,089,659 | 462,000 | 4,551,659
| DEPRECIATION |  |  |
| At 1 April 2024 | - | 55,313 | 55,313
| Charge for the year on owned assets | - | 50,836 | 50,836
| At 31 March 2025 | - | 106,149 | 106,149
| NET BOOK VALUE |  |  |
| At 31 March 2025 | 4,089,659 | 355,851 | 4,445,510
| At 31 March 2024 | 4,089,659 | 180,687 | 4,270,346
5. | FIXED ASSET INVESTMENTS
|  | Investments in subsidiary companies
|  | £
| COST OR VALUATION |
| At 1 April 2024 | 19,150
| At 31 March 2025 | 19,150
Page 5
GAMRIE FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | DEBTORS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| DUE AFTER MORE THAN ONE YEAR |  |
| Other debtors | 3,200,000 | 2,800,000
|  | 3,200,000 | 2,800,000
| DUE WITHIN ONE YEAR |  |
| Other debtors | 738,519 | 150,692
|  | 3,938,519 | 2,950,692
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 151,185 | 1,800,000
| Obligations under finance lease and hire purchase contracts | 78,413 | 40,000
| Other creditors | 1,094,846 | 808,636
| Accruals and deferred income | 650 | 650
|  | 1,325,094 | 2,649,286
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Hire purchase obligations | 78,413 | 40,000
|  | 78,413 | 40,000
| Details of security provided:
The hire purchase creditors are secured against the underlying asset purchased. Page 6
GAMRIE FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 1,575,464 | -
| Net obligations under finance leases and hire purchase contracts | 116,825 | 80,000
|  | 1,692,289 | 80,000
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Hire purchase obligations | 116,825 | 80,000
|  | 116,825 | 80,000
| Details of security provided:
The hire purchase creditors are secured against the underlying asset purchased.
9. | FINANCIAL INSTRUMENTS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| FINANCIAL ASSETS |  |
| Financial assets measured at fair value through profit or loss | 19,619 | 19,619
| Financial assets measured at fair value through profit or loss comprise...
10. | SHARE CAPITAL
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | ALLOTTED, CALLED UP AND FULLY PAID |  |
|  | 100 (2024 - 100) Ordinary shares of £1.00 each | 100 | 100
Page 7