Hawk Farming Limited - Period Ending 2025-03-31

Registration number: SC162973

Hawk Farming Limited

Unaudited Financial Statements

31 March 2025

Hawk Farming Limited

Contents

Accountants' Report	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	4

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hawk Farming Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hawk Farming Limited for the year ended 31 March 2025 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Hawk Farming Limited, as a body, in accordance with the terms of our engagement letter dated 27 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of Hawk Farming Limited and state those matters that we have agreed to state to the Board of Directors of Hawk Farming Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hawk Farming Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hawk Farming Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hawk Farming Limited. You consider that Hawk Farming 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 accounts of Hawk Farming 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 accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

23 September 2025

Hawk Farming Limited

(Registration number: SC162973)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	281,231	243,864
Investment property	5	1,647,475	1,729,536
Other financial assets	6	122,162	477,740
		2,050,868	2,451,140
Current assets
Stocks		34,000	39,270
Debtors	7	861,246	501,072
Cash at bank and in hand		106,142	85,526
		1,001,388	625,868
Creditors: Amounts falling due within one year	8	(161,624)	(93,512)
Net current assets		839,764	532,356
Total assets less current liabilities		2,890,632	2,983,496
Provisions for liabilities		(38,582)	(34,530)
Net assets		2,852,050	2,948,966
Capital and reserves
Allotted, called up and fully paid share capital		105,334	105,334
Non-distributable reserve		279,718	205,542
Profit and loss account		2,466,998	2,638,090
Total equity		2,852,050	2,948,966

Hawk Farming Limited

(Registration number: SC162973)
Balance Sheet as at 31 March 2025 (continued)

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 September 2025 and signed on its behalf by:

.........................................

A K Hamilton

Director

Hawk Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Middlefield House
Doune
PERTHSHIRE
FK16 6AX

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Government grants

Government grants such as the basic payment scheme are included in the profit and loss account when all the necessary conditions for receipt have been met.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Hawk Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Buildings	10% reducing balance basis and 10 years straight line basis
Plant and equipment	15% reducing balance basis
Motor vehicles	25% reducing balance basis

Buildings relate to tenants improvements on land owned by the directors. As the long term intention is for the business operation to continue, it is deemed a true and fair view to depreciate the assets at 10% reducing balance over their useful economic life.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Hawk Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of 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.

Stocks

Trading stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. The cost of livestock represents the purchase cost plus any additional costs of rearing the animal. Net realisable value is based on selling price less anticipated selling costs. Crop stock is valued at fair value less any anticipated costs to sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Hawk Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Financial instruments

Classification
Equity shares and debt securities
Recognition and measurement
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Impairment
For instruments measured at cost less impairment the impairment is the difference between the assets' carrying amount and the best estimate the entity would receive for the asset if it were sold at the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Hawk Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets

Land and buildings
£

Plant and equipment
£

Motor vehicles
£

Total
£

Cost or valuation

At 1 April 2024

353,206

92,542

31,237

476,985

Additions

-

50,004

33,776

83,780

Disposals

-

-

(31,237)

(31,237)

At 31 March 2025

353,206

142,546

33,776

529,528

Depreciation

At 1 April 2024

164,434

55,996

12,691

233,121

Charge for the year

18,877

5,488

3,501

27,866

Eliminated on disposal

-

-

(12,690)

(12,690)

At 31 March 2025

183,311

61,484

3,502

248,297

Carrying amount

At 31 March 2025

169,895

81,062

30,274

281,231

At 31 March 2024

188,772

36,546

18,546

243,864

5

Investment properties

£

At 1 April 2024

1,729,536

Disposals

(201,241)

Fair value adjustments

119,180

At 31 March 2025

1,647,475

The directors are of the opinion that cost plus revaluation is a reasonable estimate of fair value of investment properties.

There has been no valuation of investment properties by an independent valuer.

Hawk Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6	Other financial assets (current and non-current)

	2025 £	2024 £
Non-current financial assets
Financial assets at fair value through profit and loss	122,162	477,740

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2024

477,740

477,740

Additions

15,525

15,525

Fair value adjustments

(1,395)

(1,395)

Disposals

(369,708)

(369,708)

At 31 March 2025

122,162

122,162

Carrying amount

At 31 March 2025

122,162

122,162

At 31 March 2024

477,740

477,740

7

Debtors

2025
£

2024
£

Trade debtors

17,150

34,296

Other debtors

844,096

466,776

861,246

501,072

Hawk Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

8

Creditors

	2025 £	2024 £
Due within one year
Trade creditors	126,091	86,138
Taxation and social security	1,456	892
Corporation tax liability	139	-
Other creditors	33,938	6,482
	161,624	93,512

9

Reserves

A reconciliation of the opening and closing non-distributable reserve for the current year is as follows:

	Non-distributable reserve £
Brought forward	205,542
Transfer	92,931
Other movement	-
Deferred tax	(18,755)
Carried forward	279,718

Hawk Farming Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

10	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Advances £	Repayments £	Other payments £	Dividends credited £	Interest £	At 31 March 2025 £
A K Hamilton
Loan	145,049	239,920	(10,631)	-	(33,000)	7,038	348,376


J M Hamilton
Loan	194,199	239,920	(12,885)	-	(33,000)	8,134	396,368

2024

At 1 April 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 March 2024
£

A K Hamilton

Loan

150,504

42,867

(14,264)

-

(37,500)

3,442

145,049

J M Hamilton

Loan

198,287

42,868

(13,990)

-

(37,500)

4,534

194,199

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2.25% on advances to directors.

11	Financial instruments

Financial assets measured at fair value

Listed Equity Investments
Listed equity investments have been valued at quoted market prices in an active market.

The fair value is £122,162 (2024 - £477,740) and the change in value included in profit or loss is £(1,395) (2024 - £8,450).

	Land and buildings £	Plant and equipment £	Motor vehicles £	Total £
Cost or valuation
At 1 April 2024	353,206	92,542	31,237	476,985
Additions	-	50,004	33,776	83,780
Disposals	-	-	(31,237)	(31,237)
At 31 March 2025	353,206	142,546	33,776	529,528
Depreciation
At 1 April 2024	164,434	55,996	12,691	233,121
Charge for the year	18,877	5,488	3,501	27,866
Eliminated on disposal	-	-	(12,690)	(12,690)
At 31 March 2025	183,311	61,484	3,502	248,297
Carrying amount
At 31 March 2025	169,895	81,062	30,274	281,231
At 31 March 2024	188,772	36,546	18,546	243,864

2024	At 1 April 2023 £	Advances £	Repayments £	Other payments £	Dividends credited £	Interest £	At 31 March 2024 £
A K Hamilton
Loan	150,504	42,867	(14,264)	-	(37,500)	3,442	145,049


J M Hamilton
Loan	198,287	42,868	(13,990)	-	(37,500)	4,534	194,199