City Farm Scotland Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC716438 (Scotland)

Unaudited Financial Statements

For The Year Ended 31 January 2025

for

City Farm Scotland Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

G Ritchie (Jnr)

Ms C M Owens

REGISTERED OFFICE:

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

REGISTERED NUMBER:

SC716438 (Scotland)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

FIXED ASSETS

Intangible assets

4

536,031

612,607

Tangible assets

5

55,018

38,606

Investment property

6

414,024

1,005,073

1,065,237

CURRENT ASSETS

Debtors

7

13,604

18,733

Cash at bank

116,985

83,863

130,589

102,596

CREDITORS

Amounts falling due within one year

8

1,229,516

1,247,363

NET CURRENT LIABILITIES

(1,098,927

)

(1,144,767

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(93,854

)

(79,530

)

PROVISIONS FOR LIABILITIES

10,454

-

NET LIABILITIES

(104,308

)

(79,530

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(104,408

)

(79,630

)

(104,308

)

(79,530

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 2 October 2025 and were signed on its behalf by:

Ms C M Owens - Director

1.	STATUTORY INFORMATION

City Farm Scotland 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances

Cash and bank balances are measured at the transaction price.

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.

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.

Going concern

The company is dependent on continuing support from its directors and other lenders. The directors are committed to continue to provide financial support for the foreseeable future. Accordingly the financial statements has been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

765,759

AMORTISATION

At 1 February 2024

153,152

Charge for year

76,576

At 31 January 2025

229,728

NET BOOK VALUE

At 31 January 2025

536,031

At 31 January 2024

612,607

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

COST

At 1 February 2024

58,865

-

1,687

60,552

Additions

-

28,257

229

28,486

At 31 January 2025

58,865

28,257

1,916

89,038

DEPRECIATION

At 1 February 2024

21,609

-

337

21,946

Charge for year

7,451

4,239

384

12,074

At 31 January 2025

29,060

4,239

721

34,020

NET BOOK VALUE

At 31 January 2025

29,805

24,018

1,195

55,018

At 31 January 2024

37,256

-

1,350

38,606

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

414,024

NET BOOK VALUE

At 31 January 2025

414,024

At 31 January 2024

414,024

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Amounts owed by group undertakings

12,830

11,880

Other debtors

774

6,853

13,604

18,733

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Amounts owed to group undertakings

1,209,809

1,233,997

Taxation and social security

17,115

11,044

Other creditors

2,592

2,322

1,229,516

1,247,363

9.	RELATED PARTY DISCLOSURES

At 31/01/2025, G&C Maintenance and servicing Ltd was owes a balance of £12,830 (2024 - £11,880) to City Farm Scotland Ltd. These companies share directors.

At 31/01/2025, City Farm Scotland Ltd owes a balance of £9,078 (2024 - £9,078) to George Ritchie Son Ltd. These companies share directors.

At 31/01/2025, City Farm Scotland Ltd owes a balance of £1,200,732 (2024 - £1,224,920) to George Ritchie & Son Holdings Ltd. These companies share directors.

These loans are interest free and have no repayment terms.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of City Farm Scotland Limited for the year ended 31 January 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of City Farm Scotland Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of City Farm Scotland Limited and state those matters that we have agreed to state to the Board of Directors of City Farm Scotland Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that City Farm Scotland Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of City Farm Scotland Limited. You consider that City Farm Scotland Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of City Farm Scotland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

2 October 2025