Company No: 14823233 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Intangible assets	3	2,324		3,099
Tangible assets	4	595,749		677,676
		598,073		680,775
Current assets
Stocks		24,259		11,686
Debtors	5	179,673		182,561
Cash at bank and in hand		2,035		5,119
		205,967		199,366
Creditors: amounts falling due within one year	6	( 699,909)		( 560,395)
Net current liabilities		(493,942)		(361,029)
Total assets less current liabilities		104,131		319,746
Creditors: amounts falling due after more than one year	7	( 190,887)		( 207,137)
Provision for liabilities		( 70,162)		( 119,936)
Net liabilities		( 156,918)		( 7,327)
Capital and reserves
Called-up share capital		120		120
Profit and loss account		( 157,038 )		( 7,447 )
Total shareholder's deficit		( 156,918)		( 7,327)

For the financial 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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of A McEwen Smith Agricultural and Commercial Contracting Limited (registered number: 14823233) were approved and authorised for issue by the Director on 26 September 2025. They were signed on its behalf by:

A McEwen Smith Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

A McEwen Smith Agricultural and Commercial Contracting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents the value, net of VAT and trade discounts, of goods and services provided to customers and work carried out in respect of services provided to customers.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software

25 % reducing balance

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery	15 % reducing balance
Vehicles	15 % reducing balance
Office equipment	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stock and work in progress are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials and direct labour based on normal levels of activity.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	Year ended 31.03.2025		Period from 24.04.2023 to 31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	8		9

3. Intangible assets

	Computer software		Total
	£		£
Cost
At 01 April 2024	3,814		3,814
At 31 March 2025	3,814		3,814
Accumulated amortisation
At 01 April 2024	715		715
Charge for the financial year	775		775
At 31 March 2025	1,490		1,490
Net book value
At 31 March 2025	2,324		2,324
At 31 March 2024	3,099		3,099

4. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2024	711,634		19,769		2,425		733,828
Additions	70,800		0		0		70,800
Disposals	( 63,070)		0		0		( 63,070)
At 31 March 2025	719,364		19,769		2,425		741,558
Accumulated depreciation
At 01 April 2024	54,035		1,945		172		56,152
Charge for the financial year	93,665		2,749		338		96,752
Disposals	( 7,095)		0		0		( 7,095)
At 31 March 2025	140,605		4,694		510		145,809
Net book value
At 31 March 2025	578,759		15,075		1,915		595,749
At 31 March 2024	657,599		17,824		2,253		677,676

5. Debtors

	31.03.2025		31.03.2024
	£		£
Trade debtors	154,934		174,184
Other debtors	24,739		8,377
	179,673		182,561

6. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Trade creditors	280,140		190,387
Other taxation and social security	22,483		15,709
Obligations under finance leases and hire purchase contracts	147,038		143,308
Other creditors	250,248		210,991
	699,909		560,395

The hire purchase liabilities are secured on the asset to which they relate.

Included within other creditors are amounts owed to directors.

7. Creditors: amounts falling due after more than one year

	31.03.2025		31.03.2024
	£		£
Obligations under finance leases and hire purchase contracts (secured)	190,887		207,137

The hire purchase liabilities are secured on the asset to which they relate.