REGISTERED NUMBER: SC323936 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ARDFERN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J M Telford

SECRETARY:

P Macleod

REGISTERED OFFICE:

Stanley House

69/71 Hamilton Road

Motherwell

Lanarkshire

ML1 3DG

REGISTERED NUMBER:

SC323936 (Scotland)

ACCOUNTANTS:

McDaid & Partners

Stanley House

69/71 Hamilton Road

Motherwell

Lanarkshire

ML1 3DG

TRADING ADDRESS:

Unit C

Floors St. Industrial Estate

Floors Street

Johnstone

PA5 8PE

FIXED ASSETS

Tangible assets

4

75,492

42,130

CURRENT ASSETS

Debtors

5

128,409

139,709

Cash at bank and in hand

480,217

431,775

608,626

571,484

CREDITORS

Amounts falling due within one year

6

153,923

131,438

NET CURRENT ASSETS

454,703

440,046

TOTAL ASSETS LESS CURRENT LIABILITIES

530,195

482,176

CREDITORS

Amounts falling due after more than one year

7

(8,678

)

-

PROVISIONS FOR LIABILITIES

(3,688

)

-

NET ASSETS

517,829

482,176

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

516,829

481,176

SHAREHOLDERS' FUNDS

517,829

482,176

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 1 October 2025 and were signed by:

J M Telford - Director

1.	STATUTORY INFORMATION

Ardfern 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.

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 represents income from the operation of an independent school net of value added tax. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tenants improvements

-

33.33% on cost

Equipment

-

20% on cost

Fixtures & fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on cost

Financial instruments

Trade debtors

Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Cash

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

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 17 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Tenants

Fixtures

improvements

Equipment

& fittings

£

£

£

COST

At 1 July 2023

27,350

35,377

35,753

Additions

-

-

-

Disposals

-

-

-

At 30 June 2024

27,350

35,377

35,753

DEPRECIATION

At 1 July 2023

27,350

24,131

35,578

Charge for year

-

2,508

175

Eliminated on disposal

-

-

-

At 30 June 2024

27,350

26,639

35,753

NET BOOK VALUE

At 30 June 2024

-

8,738

-

At 30 June 2023

-

11,246

175

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2023

205,416

58,319

362,215

Additions

52,649

-

52,649

Disposals

(29,700

)

-

(29,700

)

At 30 June 2024

228,365

58,319

385,164

DEPRECIATION

At 1 July 2023

174,823

58,203

320,085

Charge for year

14,939

116

17,738

Eliminated on disposal

(28,151

)

-

(28,151

)

At 30 June 2024

161,611

58,319

309,672

NET BOOK VALUE

At 30 June 2024

66,754

-

75,492

At 30 June 2023

30,593

116

42,130

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.24

30.6.23

£

£

Trade debtors

13,015

129,952

Other debtors

115,394

9,757

128,409

139,709

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.24

30.6.23

£

£

Hire purchase contracts (see note 8)

9,467

-

Trade creditors

38,758

38,947

Taxation and social security

76,876

63,195

Other creditors

28,822

29,296

153,923

131,438

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.24

30.6.23

£

£

Hire purchase contracts (see note 8)

8,678

-

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase

contracts

30.6.24

30.6.23

£

£

Net obligations repayable:

Within one year

9,467

-

Between one and five years

8,678

-

18,145

-

At the year end the company had total commitments under operating leases of £14,425 (2023: £14,425).

9.	SECURED DEBTS

AIB UK PLC have a floating charge over the assets of the company.

Clydesdale Bank PLC have a floating charge over the assets of the company.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24

30.6.23

£

£

J M Telford

Balance outstanding at start of year

10,284

13,833

Amounts advanced

-

2,357

Amounts repaid

(1,275

)

(5,906

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,009

10,284

Director's loans are interest free and repayable on demand.