Company registration number SC279661 (Scotland)
ARNHALL FARMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
ARNHALL FARMS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
ARNHALL FARMS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,357,167
1,379,447
Investment property
4
2,656,000
2,656,000
4,013,167
4,035,447
Current assets
Stocks
587,143
580,360
Debtors
5
186,719
130,589
Cash at bank and in hand
1,676,160
1,385,125
2,450,022
2,096,074
Creditors: amounts falling due within one year
6
(326,921)
(327,244)
Net current assets
2,123,101
1,768,830
Total assets less current liabilities
6,136,268
5,804,277
Provisions for liabilities
(385,224)
(415,667)
Net assets
5,751,044
5,388,610
Capital and reserves
Called up share capital
7
10,000
10,000
Profit and loss reserves
5,741,044
5,378,610
Total equity
5,751,044
5,388,610

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ARNHALL FARMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 22 August 2025
Mr M C G Ogg
Director
Company Registration No. SC279661
ARNHALL FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information

Arnhall Farms Limited is a private company limited by shares incorporated in Scotland. The registered office is Arnhall, Edzell, Brechin, Angus, United Kingdom, DD9 7UZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation
Tenants improvements
10% reducing balance
Plant and equipment
15% and 20% reducing balance
Office equipment
25% reducing balance
Motor vehicles
25% reducing balance

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.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Stocks

Capital livestock is valued using the herd basis principles. Trading livestock is valued at the lower of cost and net realisable value.

Crops and cultivations are valued at the lower of cost and net realisable value.

Miscellaneous stocks are stated at their invoiced cost.

ARNHALL FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ARNHALL FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except were another more systematic basis is more representative of the time pattern in which economic benefits from the lease are consumed.

1.12
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.13

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

ARNHALL FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
8
6
ARNHALL FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
3
Tangible fixed assets
Freehold land and buildings
Tenants improvements
Assets under construction
Plant and equipment
Office equipment
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 February 2024
367,660
576,798
-
0
2,278,313
2,879
156,329
3,381,979
Additions
-
0
-
0
113,377
47,700
-
0
-
0
161,077
Disposals
-
0
-
0
-
0
(108,082)
-
0
-
0
(108,082)
At 31 January 2025
367,660
576,798
113,377
2,217,931
2,879
156,329
3,434,974
Depreciation and impairment
At 1 February 2024
-
0
358,000
-
0
1,562,430
2,320
79,782
2,002,532
Depreciation charged in the year
-
0
21,880
-
0
110,488
140
19,137
151,645
Eliminated in respect of disposals
-
0
-
0
-
0
(76,370)
-
0
-
0
(76,370)
At 31 January 2025
-
0
379,880
-
0
1,596,548
2,460
98,919
2,077,807
Carrying amount
At 31 January 2025
367,660
196,918
113,377
621,383
419
57,410
1,357,167
At 31 January 2024
367,660
218,798
-
0
715,883
559
76,547
1,379,447
ARNHALL FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
4
Investment property
2025
£
Fair value
At 1 February 2024 and 31 January 2025
2,656,000

Investment property comprises various agricultural buildings and residential properties which attract rental income. The director has valued the properties at their fair value. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties and the directors extensive knowledge of the area.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
41,773
4,060
Other debtors
144,946
126,529
186,719
130,589
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
50,648
162,161
Corporation tax
157,562
95,396
Other taxation and social security
-
0
9,088
Other creditors
118,711
60,599
326,921
327,244
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
10,000
10,000
8
Related party transactions
Remuneration of key management personnel
2025
2024
£
£
Aggregate compensation
12,400
12,568
ARNHALL FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
8
Related party transactions
(Continued)
- 9 -

The company operates an interest-free current account with the director which is unsecured and has no fixed terms for repayment. At the balance sheet date, £78,930 (2024: £31,477) was due to the director. During the year the company was charged rent of £70,000 (2024: £70,000) from the director.

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