REGISTERED NUMBER: SC471279 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Heads Of Ayr Farm Park (Scotland) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J C Rankin

Mrs E M Rankin

Mr M Rankin

Mr G Rankin

Mr B Rankin

REGISTERED OFFICE:

Laigh Kyleston Farm

Dunure Road

Ayr

Ayrshire

KA7 4LD

REGISTERED NUMBER:

SC471279 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

Westburn Business Centre

McNee Road

Prestwick

KA9 2PB

FIXED ASSETS

Tangible assets

4

1,222,455

1,217,281

CURRENT ASSETS

Stocks

34,991

34,791

Debtors

5

586,318

549,342

Cash at bank and in hand

90,742

85,428

712,051

669,561

CREDITORS

Amounts falling due within one year

6

684,108

627,499

NET CURRENT ASSETS

27,943

42,062

TOTAL ASSETS LESS CURRENT LIABILITIES

1,250,398

1,259,343

CREDITORS

Amounts falling due after more than one year

7

-

(12,000

)

PROVISIONS FOR LIABILITIES

(172,163

)

(152,630

)

NET ASSETS

1,078,235

1,094,713

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,078,233

1,094,711

SHAREHOLDERS' FUNDS

1,078,235

1,094,713

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 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.

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 Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

Mr J C Rankin - Director

Mrs E M Rankin - Director

Mr M Rankin - Director

Mr G Rankin - Director

Mr B Rankin - Director

1.	STATUTORY INFORMATION

Heads Of Ayr Farm Park (Scotland) Ltd 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

Going Concern

The accounts have been prepared on a going concern basis as the directors are of the view, having made the appropriate enquiries that there will be sufficient resources both within and generated by the business over the next year to meet all commitments as they fall due. In addition and as a consequence of the seasonal nature of the business, the directors support working capital requirements from time to time by the introduction of funds. On this basis the accounts have been prepared on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with its parent company Rankin Holdings Scotland Ltd, or other wholly owned subsidiaries within the group.

Turnover/revenue recognition

Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities.

Sales are presented, net of value-added tax, rebates and discounts.

The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

20% on reducing balance

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Financial instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables

Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities

Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments

A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that the company anticipates making sufficient taxable profits in the future to absorb the reversal of the underlying timing differences.

Deferred tax balances are not discounted.

Hire purchase and leasing commitments

Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account over the shorter of estimated useful economic life and the period of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease.

Pension costs and other post-retirement benefits

The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents

Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Impairment of fixed assets

At each reporting date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 86 (2023 - 83 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

1,327,249

1,585,612

2,912,861

Additions

148,989

104,247

253,236

Disposals

-

(129,038

)

(129,038

)

At 31 December 2024

1,476,238

1,560,821

3,037,059

DEPRECIATION

At 1 January 2024

730,690

964,890

1,695,580

Charge for year

88,196

123,752

211,948

Eliminated on disposal

-

(92,924

)

(92,924

)

At 31 December 2024

818,886

995,718

1,814,604

NET BOOK VALUE

At 31 December 2024

657,352

565,103

1,222,455

At 31 December 2023

596,559

620,722

1,217,281

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

97,205

Transfer to ownership

(97,205

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

50,513

Transfer to ownership

(50,513

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

46,692

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by related party

307,630

316,227

Other debtors

278,688

233,115

586,318

549,342

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

14,876

Hire purchase contracts

-

54,490

Trade creditors

36,146

38,534

Amounts owed to group undertakings

489,203

306,500

Taxation and social security

102,580

157,313

Other creditors

56,179

55,786

684,108

627,499

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

12,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans and overdraft

-

14,876

Hire purchase contracts

-

66,490

-

81,366

Bank borrowings are secured by way of a bond and floating charge over all of the company's assets and by guarantee from the partnership of C & E Rankin. Interest is chargeable at a commercial rate of interest on all bank borrowings.

Hire purchase liabilities are secured over the assets to which they relate.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr J C Rankin and Mrs E M Rankin

Balance outstanding at start of year

(16,444

)

(61,805

)

Amounts advanced

75,276

119,213

Amounts repaid

(47,073

)

(73,852

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

11,759

(16,444

)

The amount shown as due by the directors is interest free and repayable on demand. The loan was repaid within 9 months.

10.	RELATED PARTY DISCLOSURES

The company contracted for services from a partnership under the control of 2 of the directors.

The value of services rendered amounted to to £180,000 (2023: £150,000) and the balance due from the partnership as at 31 December 2024 amounted to £221,897 (2023: £167,890).

In the year the company incurred expenditure in respect of a related party in the sum of £8,598 (2023: £5,781). The amount outstanding and due as at 31 December 2024 was £307,630 (2023 £316,227).

11.	CONTROLLING PARTY

By virtue of their ownership of the entire share capital of Rankin Holdings Scotland Ltd, two of the directors are in control of the company.