REGISTERED NUMBER: SC213643 (Scotland)

Harvester Homes (Fife) Limited

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A M Neilson

REGISTERED OFFICE:

3 Mountfrost Place

Markinch

Glenrothes

Fife

KY7 6JH

REGISTERED NUMBER:

SC213643 (Scotland)

ACCOUNTANTS:

Aggarwal & Co

Chartered Accountants

5 London Road

Rainham

Gillingham

Kent

ME8 7RG

FIXED ASSETS

Tangible assets

4

19,025

23,060

CURRENT ASSETS

Inventories

1,013,754

1,013,229

Debtors

5

2,303

12,226

Cash at bank

37,699

3,291

1,053,756

1,028,746

CREDITORS

Amounts falling due within one year

6

547,806

545,164

NET CURRENT ASSETS

505,950

483,582

TOTAL ASSETS LESS CURRENT LIABILITIES

524,975

506,642

CREDITORS

Amounts falling due after more than one year

7

140,574

151,126

NET ASSETS

384,401

355,516

CAPITAL AND RESERVES

Called up share capital

1,400

1,200

Retained earnings

383,001

354,316

SHAREHOLDERS' FUNDS

384,401

355,516

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 September 2025 and were signed by:

A M Neilson - Director

1.	STATUTORY INFORMATION

Harvester Homes (Fife) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Income recognition

Turnover represents the amounts receivable from the sale of properties and building works done during the year . The properties are treated as sold when contracts are exchanged and the building work is physically complete.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Inventories

Inventories are stated at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, direct labour costs and those overheads, not including any general administrative overheads, that have been incurred in bringing the inventories to their present location and condition.

Net realisable value represents the estimated net selling price less estimated total costs of completion of the finished goods.

Land held for development is recorded at the lower of direct cost and net realisable value. Direct cost comprises the cost of land, raw materials, development costs and interest but excludes indirect overheads.

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Basic financial instruments are recognised at amortised cost.

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 statement of financial position date.

Rents receivable

Rents receivable represent the amounts receivable from the short term letting out of part of the land held for development.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

74,992

Additions

832

Disposals

(898

)

At 31 December 2024

74,926

DEPRECIATION

At 1 January 2024

51,932

Charge for year

4,867

Eliminated on disposal

(898

)

At 31 December 2024

55,901

NET BOOK VALUE

At 31 December 2024

19,025

At 31 December 2023

23,060

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,010

10,740

Other debtors

293

1,486

2,303

12,226

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

12,720

14,419

Trade creditors

19,101

4,073

Taxation and social security

6,827

7,872

Other creditors

509,158

518,800

547,806

545,164

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

140,574

151,126

2024

2023

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank more than 5 years

78,414

65,894

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

153,294

165,545

The bank loans are secured by means of fixed and floating charges on the property of the company.