REGISTERED NUMBER: SC135511 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

BROADFIELD FARMING COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C Coubrough

M R Coubrough

N Lyon

SECRETARY:

Mrs J A Lyon

REGISTERED OFFICE:

Tintoside

Symington

Biggar

Lanarkshire

ML12 6HX

REGISTERED NUMBER:

SC135511 (Scotland)

ACCOUNTANTS:

Galbraith Pritchards

Chartered Accountants

25 Bloomgate

Lanark

Lanarkshire

ML11 9ET

SOLICITORS:

Stodarts

Almada Chambers

95 Almada Street

Hamilton

South Lanarkshire

ML3 0EY

FIXED ASSETS

Tangible assets

4

2,052,349

1,991,868

CURRENT ASSETS

Stocks

458,851

434,403

Debtors

5

134,458

108,344

Cash at bank

65,618

74,216

658,927

616,963

CREDITORS

Amounts falling due within one year

6

189,230

121,827

NET CURRENT ASSETS

469,697

495,136

TOTAL ASSETS LESS CURRENT LIABILITIES

2,522,046

2,487,004

CREDITORS

Amounts falling due after more than one year

7

(1,761,122

)

(1,826,458

)

PROVISIONS FOR LIABILITIES

(250,620

)

(198,538

)

NET ASSETS

510,304

462,008

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

510,204

461,908

SHAREHOLDERS' FUNDS

510,304

462,008

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

N Lyon - Director

1.	STATUTORY INFORMATION

Broadfield Farming Company 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on cost and not provided

Plant and machinery

-

20% on reducing balance, 4% on cost and 2% on cost

Motor vehicles

-

25% on reducing balance

Tractors and combines

-

20% on reducing balance and 12.5% on reducing balance

Property is not depreciated as it is the company's policy to maintain these in good condition with costs of repairs and maintenance being charged against revenue in the year in which they are incurred. Certain improvements to farm properties are depreciated over ten years.

Stocks

Livestock is valued at the lower of cost or net realisable value, cost calculated to include, where appropriate, cost of rearing. Other stocks are valued at the lower of cost or net realisable value.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Tractors

Land and

Plant and

Motor

and

buildings

machinery

vehicles

combines

Totals

£

£

£

£

£

COST

At 1 April 2024

1,063,695

1,065,264

5,288

204,475

2,338,722

Additions

-

143,974

-

-

143,974

Disposals

-

(60,750

)

-

(24,400

)

(85,150

)

At 31 March 2025

1,063,695

1,148,488

5,288

180,075

2,397,546

DEPRECIATION

At 1 April 2024

13,123

244,069

4,809

84,853

346,854

Charge for year

693

51,072

120

15,143

67,028

Eliminated on disposal

-

(49,353

)

-

(19,332

)

(68,685

)

At 31 March 2025

13,816

245,788

4,929

80,664

345,197

NET BOOK VALUE

At 31 March 2025

1,049,879

902,700

359

99,411

2,052,349

At 31 March 2024

1,050,572

821,195

479

119,622

1,991,868

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Tractors

Plant and

and

machinery

combines

Totals

£

£

£

COST

At 1 April 2024

83,200

85,000

168,200

Additions

52,800

-

52,800

At 31 March 2025

136,000

85,000

221,000

DEPRECIATION

At 1 April 2024

6,656

19,922

26,578

Charge for year

13,888

8,135

22,023

At 31 March 2025

20,544

28,057

48,601

NET BOOK VALUE

At 31 March 2025

115,456

56,943

172,399

At 31 March 2024

76,544

65,078

141,622

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

116,555

102,753

Other debtors

17,903

5,591

134,458

108,344

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Hire purchase contracts

51,599

36,000

Trade creditors

124,568

70,137

Tax

1,414

-

Social security and other taxes

1,507

1,285

Accrued expenses

10,142

14,405

189,230

121,827

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loan

1,050,000

1,098,837

Hire purchase contracts

49,167

65,666

Amount due to parent company

661,955

661,955

1,761,122

1,826,458

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/25

31/3/24

£

£

Hire purchase contracts

100,766

101,666

Bank loan

-

1,098,836

100,766

1,200,502

The bank borrowings of the company are secured by a bond and floating charge over all the assets registered on 7 October 2014.