REGISTERED NUMBER: SC521798 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FARM ORIGINALS LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Property, plant and equipment

4

3,798

50,221

Investments

5

10,755,323

10,105,065

Investment property

6

5,760,232

4,412,671

16,519,353

14,567,957

CURRENT ASSETS

Debtors

7

9,931,991

8,140,391

Cash at bank and in hand

644,833

394,939

10,576,824

8,535,330

CREDITORS

Amounts falling due within one year

8

413,871

449,816

NET CURRENT ASSETS

10,162,953

8,085,514

TOTAL ASSETS LESS CURRENT LIABILITIES

26,682,306

22,653,471

CREDITORS

Amounts falling due after more than one year

9

27,494,387

21,264,775

NET (LIABILITIES)/ASSETS

(812,081

)

1,388,696

CAPITAL AND RESERVES

Called up share capital

4,815,191

4,815,191

Retained earnings

(5,627,272

)

(3,426,495

)

(812,081

)

1,388,696

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 her 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 24 September 2025 and were signed by:

Miss A Lopatinsky - Director

1.	STATUTORY INFORMATION

Farm Originals Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number:

SC521798

Registered office:

c/o Brodies LLP

Capital Square

58 Morrison Street

Edinburgh

EH3 8BP

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Preparation of consolidated financial statements

The financial statements contain information about Farm Originals Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Property plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 25% on reducing balance

Computer equipment - 25% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost less impairment.

Investment properties

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.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalent

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

50,582

-

50,582

Additions

-

4,778

4,778

Disposals

(50,203

)

-

(50,203

)

At 31 December 2024

379

4,778

5,157

DEPRECIATION

At 1 January 2024

361

-

361

Charge for year

48

1,175

1,223

Eliminated on disposal

(225

)

-

(225

)

At 31 December 2024

184

1,175

1,359

NET BOOK VALUE

At 31 December 2024

195

3,603

3,798

At 31 December 2023

50,221

-

50,221

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1 January 2024

10,105,065

-

10,105,065

Additions

761,647

350,034

1,111,681

Disposals

(461,423

)

-

(461,423

)

At 31 December 2024

10,405,289

350,034

10,755,323

NET BOOK VALUE

At 31 December 2024

10,405,289

350,034

10,755,323

At 31 December 2023

10,105,065

-

10,105,065

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

4,412,671

Additions

1,347,561

At 31 December 2024

5,760,232

NET BOOK VALUE

At 31 December 2024

5,760,232

At 31 December 2023

4,412,671

Investment properties have been recorded at the following historical cost:

2024

2023

£

£

Cost

5,760,232

4,412,671

The director considers the market value of the investment properties at the year end to be as stated in the accounts.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

30,413

-

Amounts owed by group undertakings

9,245,966

6,696,336

Other debtors

655,612

1,444,055

9,931,991

8,140,391

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

74,661

58,774

Amounts owed to group undertakings

257,481

274,089

Taxation and social security

4,343

5,729

Other creditors

77,386

111,224

413,871

449,816

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

27,494,387

21,264,775

10.	RELATED PARTY DISCLOSURES

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 wholly owned subsidiaries within the group.

Included in other debtors is an amount of £924 (2023: £1,383,954) due from connected companies under common ownership. The loans remain interest free and recoverable on demand.