Company registration number SC368670 (Scotland)
MARSHALL'S FARM SHOP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MARSHALL'S FARM SHOP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
MARSHALL'S FARM SHOP LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,333,245
2,841,612
Investment property
4
100,000
100,000
4,433,245
2,941,612
Current assets
Stocks
5
890,206
831,673
Debtors
6
222,277
353,678
Cash at bank and in hand
191,723
315,069
1,304,206
1,500,420
Creditors: amounts falling due within one year
7
(2,519,814)
(1,975,652)
Net current liabilities
(1,215,608)
(475,232)
Total assets less current liabilities
3,217,637
2,466,380
Creditors: amounts falling due after more than one year
8
(439,563)
(44,606)
Provisions for liabilities
(404,926)
(355,978)
Net assets
2,373,148
2,065,796
Capital and reserves
Called up share capital
5,512
5,512
Share premium account
559,488
559,488
Profit and loss reserves
1,808,148
1,500,796
Total equity
2,373,148
2,065,796
MARSHALL'S FARM SHOP LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -

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

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the board of directors and authorised for issue on 12 November 2025 and are signed on its behalf by:
K D MARSHALL
K D Marshall
Director
Company registration number SC368670 (Scotland)
MARSHALL'S FARM SHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Marshall's Farm Shop Limited is a private company limited by shares incorporated in Scotland. The registered office is 28 Albyn Place, Aberdeen, United Kingdom, AB10 1YL.

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 £.

1.2
Going concern

These financial statements are prepared on the going concern basis. At the balance sheet date, the company had net current liabilities of £1,215,608. Included within these liabilities are amounts due to the directors of £1,736,894. The financial statements are prepared on a going concern basis which assumes that the company will continue to meet its liabilities as they fall due. Furthermore, the directors have confirmed they shall continue to support the company to facilitate its ability to continue trading as a going concern for the foreseeable future. As a result, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
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:

Property
2% straight line
Plant and machinery
20-25% straight line
Fixtures and fittings
20% straight line
Office Equipment
20% straight line
Motor vehicles
25% straight line

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.

MARSHALL'S FARM SHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Investment property

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 at the reporting end date. Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Tearoom and shop stocks are recorded at the lower of costs and net realisable value, being the estimated selling price less costs to complete and sell.

Stocks of cattle and sheep are measured at the lower of cost and net realisable value.

1.8
Cash and cash equivalents

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.

1.9
Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

MARSHALL'S FARM SHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.10
Equity instruments

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

1.11
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.

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.

2
Employees

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

2025
2024
Number
Number
Total
103
90
MARSHALL'S FARM SHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Tangible fixed assets
Property
Plant and machinery
Fixtures and fittings
Office Equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2024
2,606,235
842,606
66,310
16,681
310,768
3,842,600
Additions
1,417,569
181,881
3,500
-
0
129,695
1,732,645
Disposals
-
0
(7,800)
(1,500)
-
0
(23,800)
(33,100)
At 31 March 2025
4,023,804
1,016,687
68,310
16,681
416,663
5,542,145
Depreciation and impairment
At 1 April 2024
221,029
501,432
37,157
10,224
231,146
1,000,988
Depreciation charged in the year
55,051
134,229
11,915
2,734
36,733
240,662
Eliminated in respect of disposals
-
0
(7,800)
(1,150)
-
0
(23,800)
(32,750)
At 31 March 2025
276,080
627,861
47,922
12,958
244,079
1,208,900
Carrying amount
At 31 March 2025
3,747,724
388,826
20,388
3,723
172,584
4,333,245
At 31 March 2024
2,385,206
341,174
29,153
6,457
79,622
2,841,612
4
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
100,000

The 2025 valuations were made by the directors, on an open market value for existing use basis.

5
Stocks
2025
2024
£
£
Stocks
890,206
831,673
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
68,864
103,864
Other debtors
153,413
249,814
222,277
353,678
MARSHALL'S FARM SHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Trade creditors
480,998
338,782
Corporation tax
68,997
51,102
Other taxation and social security
60,026
35,955
Other creditors
1,899,793
1,539,813
2,519,814
1,975,652
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,667
11,667
Other creditors
437,896
32,939
439,563
44,606
MARSHALL'S FARM SHOP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
9
Related party transactions

Transactions

During the year, the company made repayments to a director of £159,839. Credits were received of £149,942 which resulted in amounts due to the director of £187,558 (2024 - £197,455).

During the year, the company made repayments to a director of £246,384. Credits were received of £265,741 which resulted in amounts due to the director of £234,258 (2024 - £214,901).

During the year, the company made repayments to a director of £652,002. Credits were received of £341,475 which resulted in amounts due to the director of £250,722 (2024 - £561,249).

During the year, the company made repayments to a director of £116,552. Credits were received of £265,241 which resulted in amounts due to the director of £343,078 (2024 - £194,389).

During the year, the company made repayments to a director of £150,000. C redits were received of £529,250 which resulted in amounts due to the director of £721,278 (2024 - £342,028).

All of the above loans are unsecured with no fixed repayment terms in place with no interest charged.

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