Stevenson Farms Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC547790 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

STEVENSON FARMS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W D Stevenson

Mrs F Stevenson

SECRETARY:

W D Stevenson

REGISTERED OFFICE:

Auchenflower Farm

Ballantrae

GIRVAN

Ayrshire

KA26 0LW

REGISTERED NUMBER:

SC547790 (Scotland)

ACCOUNTANTS:

Stewart Gilmour & Co.

Chartered Accountants

24 Beresford Terrace

Ayr

KA7 2EG

FIXED ASSETS

Tangible assets

4

56,046

82,760

CURRENT ASSETS

Stocks

190,522

164,622

Debtors

5

35,187

14,967

Cash at bank

372

-

226,081

179,589

CREDITORS

Amounts falling due within one year

6

427,876

367,222

NET CURRENT LIABILITIES

(201,795

)

(187,633

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(145,749

)

(104,873

)

CREDITORS

Amounts falling due after more than one
year

7

(13,533

)

(24,833

)

PROVISIONS FOR LIABILITIES

(10,649

)

(15,724

)

NET LIABILITIES

(169,931

)

(145,430

)

CAPITAL AND RESERVES

Called up share capital

8

1,100

Retained earnings

9

(171,031

)

(146,530

)

SHAREHOLDERS' FUNDS

(169,931

)

(145,430

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

W D Stevenson - Director

1.	STATUTORY INFORMATION

Stevenson Farms 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

10% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 October 2023

83,552

27,800

54,850

166,202

Disposals

(14,000

)

-

(20,600

)

(34,600

)

At 30 September 2024

69,552

27,800

34,250

131,602

DEPRECIATION

At 1 October 2023

41,115

21,856

20,471

83,442

Charge for year

3,557

1,189

6,422

11,168

Eliminated on disposal

(7,145

)

-

(11,909

)

(19,054

)

At 30 September 2024

37,527

23,045

14,984

75,556

NET BOOK VALUE

At 30 September 2024

32,025

4,755

19,266

56,046

At 30 September 2023

42,437

5,944

34,379

82,760

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

35,187

14,967

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

42,041

25,387

Other loans

126,523

283,193

Trade creditors

12,331

18,036

VAT

1,044

4,982

Other creditors

15,000

Directors' current accounts

230,937

20,624

427,876

367,222

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Other creditors

13,533

24,833

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

500

Ordinary Shares

1

500

600

Ordinary A Shares

1

600

1,100

9.

RESERVES

Retained

earnings

£

At 1 October 2023

(146,530

)

Deficit for the year

(24,501

)

At 30 September 2024

(171,031

)

10.	STOCK VALUATION

2024

2023

Price

Value

Price

Value

No.

£

No.

£

Coxton/Linthill

B F Ewes

423

85

35,955

423

85

35,955

do.

324

85

27,540

324

85

27,540

do.

15

90

1,350

-

Cast ewes

178

70

12,460

-

B F Gimmers

196

100

19,600

196

100

19,600

do.

52

100

5,200

52

100

5,200

do.

45

105

4,725

-

B F Hoggs

330

85

28,050

295

85

25,075

B F Tups

12

various

2,450

13

various

2,655

1,575

1,303

Campbellton

Mule Ewes

-

75

85

6,375

Herdwick Ewes

75

100

7,500

57

100

5,700

Mule Gimmers

-

Mule Hoggs

196

85

16,660

228

85

19,380

B F Ewes

36

85

3,060

36

85

3,060

do.

4

70

280

4

70

280

do.

29

85

2,465

29

85

2,465

do.

151

90

13,590

BF Gimmers

78

100

7,800

95

100

9,500

B F Tups

9

various

1,837

21

various

4,287

do.

-

1

400

578

533

190,522

164,622