REGISTERED NUMBER: SC465221 (Scotland)

Unaudited Financial Statements

for the Period 1st May 2024 to 31st March 2025

for

Kirkpatrick Farming Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

D C Kirkpatrick

Mrs J W Kirkpatrick

Mrs L Kirkpatrick

REGISTERED OFFICE:

c/o Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

REGISTERED NUMBER:

SC465221 (Scotland)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Tangible assets

4

43,750

52,140

Investment property

5

294,362

294,362

338,112

346,502

CURRENT ASSETS

Stocks

107,690

142,870

Debtors

6

43,900

9,818

Cash at bank

52,368

29,514

203,958

182,202

CREDITORS

Amounts falling due within one year

7

(476,237

)

(438,410

)

NET CURRENT LIABILITIES

(272,279

)

(256,208

)

TOTAL ASSETS LESS CURRENT LIABILITIES

65,833

90,294

CREDITORS

Amounts falling due after more than one year

8

(25,926

)

(31,019

)

PROVISIONS FOR LIABILITIES

(8,313

)

(9,907

)

NET ASSETS

31,594

49,368

CAPITAL AND RESERVES

Called up share capital

1,100

1,100

Retained earnings

30,494

48,268

SHAREHOLDERS' FUNDS

31,594

49,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th November 2025 and were signed on its behalf by:

D C Kirkpatrick - Director

1.	STATUTORY INFORMATION

Kirkpatrick Farming 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.

The trading address of the company is Auchenbainzie, Penpont, Thornhill, DG3 4ND.

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 net invoiced sales of livestock and associated by-products during the year, excluding value added tax, together with any related subsidies

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% on reducing balance, 20% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits

The company makes contributions into a recognised UK defined contribution pension scheme. Contributions payable to this scheme are charged to the income statement in the period to which they relate.

Financial instruments

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors

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

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.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st May 2024

and 31st March 2025

173,570

DEPRECIATION

At 1st May 2024

121,430

Charge for period

8,390

At 31st March 2025

129,820

NET BOOK VALUE

At 31st March 2025

43,750

At 30th April 2024

52,140

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st May 2024

and 31st March 2025

294,362

NET BOOK VALUE

At 31st March 2025

294,362

At 30th April 2024

294,362

Investment property is included at cost price . The directors do not believe the market value at 31st March 2025 will be materially different.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

14,758

8,255

Other debtors

29,142

1,563

43,900

9,818

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

5,556

5,556

Trade creditors

18,571

14,217

Taxation and social security

10,108

12,442

Other creditors

442,002

406,195

476,237

438,410

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

25,926

31,019

9.	RELATED PARTY DISCLOSURES

During the period, total dividends of £52,000 (2024 - £16,500) were paid to the directors .

The company operates a directors' current account. As at 31st March 2025, the company owed the sum of £438,002 (2024 - £387,064). This sum is interest free and repayable on demand.