REGISTERED NUMBER: SC175029 (Scotland)

Financial Statements for the Year Ended 30 April 2025

for

M.B.M. Farms Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J D Miller

D H Miller

Miss G H Miller

Miss M J Miller

SECRETARY:

Mrs J D Miller

REGISTERED OFFICE:

Bilbster Mains

Bilbster

Wick

Caithness

KW1 4TA

REGISTERED NUMBER:

SC175029 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

15 Princes Street

Thurso

Caithness

KW14 7BQ

FIXED ASSETS

Tangible assets

4

147,797

109,017

Production herd

5

560,216

535,016

708,013

644,033

CURRENT ASSETS

Stocks

519,102

466,406

Debtors

6

44,875

18,620

Cash at bank

190,767

225,723

754,744

710,749

CREDITORS

Amounts falling due within one year

7

(732,539

)

(685,617

)

NET CURRENT ASSETS

22,205

25,132

TOTAL ASSETS LESS CURRENT LIABILITIES

730,218

669,165

PROVISIONS FOR LIABILITIES

(18,676

)

(15,425

)

NET ASSETS

711,542

653,740

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

710,542

652,740

SHAREHOLDERS' FUNDS

711,542

653,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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:

D H Miller - Director

1.	STATUTORY INFORMATION

M.B.M. 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 each asset over its estimated useful life.

Plant and machinery etc

-

25% reducing balance and 15% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 May 2024

25,000

266,557

20,405

311,962

Additions

30,895

40,890

-

71,785

Disposals

-

(24,581

)

-

(24,581

)

At 30 April 2025

55,895

282,866

20,405

359,166

DEPRECIATION

At 1 May 2024

-

187,383

15,562

202,945

Charge for year

-

27,458

1,211

28,669

Eliminated on disposal

-

(20,245

)

-

(20,245

)

At 30 April 2025

-

194,596

16,773

211,369

NET BOOK VALUE

At 30 April 2025

55,895

88,270

3,632

147,797

At 30 April 2024

25,000

79,174

4,843

109,017

5.	PRODUCTION HERD

Production

herd

£

COST

At 1 May 2024

535,016

Additions

100,040

Disposals

(74,840

)

At 30 April 2025

560,216

NET BOOK VALUE

At 30 April 2025

560,216

At 30 April 2024

535,016

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

44,875

18,620

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

31,400

26,721

Other creditors

701,139

658,896

732,539

685,617

Other creditors includes the sum of £31,576 in respect of taxation and social security (2024 - £13,157).