ACCOUNTS - Final Accounts

Registered number: SC239958

BARRA FARMING COMPANY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

BARRA FARMING COMPANY LIMITED

COMPANY INFORMATION

DIRECTORS	R A Stephen
	Mrs A K Stephen


COMPANY SECRETARY	Mrs A K Stephen


REGISTERED NUMBER	SC239958


REGISTERED OFFICE	Westby
	64 West High Street
	Forfar
	Angus
	DD8 1BJ


ACCOUNTANTS	EQ Accountants Limited
	Chartered Accountants
	Westby
	64 West High Street
	Forfar
	Angus
	DD8 1BJ

BARRA FARMING COMPANY LIMITED

REGISTERED NUMBER: SC239958

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
		£		£

FIXED ASSETS
Tangible assets			5,538,270		5,473,687
Investments			33,060		33,060
Investment property			146,944		-
			5,718,274		5,506,747
CURRENT ASSETS
Stocks		606,746		545,149
Debtors		596,435		804,657
Bank & cash balances		552		164,191
		1,203,733		1,513,997
Creditors: amounts falling due within one year	5	(2,578,122)		(2,570,227)
NET CURRENT LIABILITIES			(1,374,389)		(1,056,230)
TOTAL ASSETS LESS CURRENT LIABILITIES			4,343,885		4,450,517
Creditors: amounts falling due after more than one year	6		(106,505)		(542,277)
PROVISIONS FOR LIABILITIES
Deferred Tax		(397,743)		(337,457)
			(397,743)		(337,457)
NET ASSETS			3,839,637		3,570,783

CAPITAL AND RESERVES
Called up share capital	120,000	120,000
Profit and loss account	3,719,637	3,450,783
	3,839,637	3,570,783

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BARRA FARMING COMPANY LIMITED

REGISTERED NUMBER: SC239958

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 October 2025.

R A Stephen	Mrs A K Stephen
Director	Director

The notes on pages 3 to 7 form part of these financial statements.

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BARRA FARMING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	GENERAL INFORMATION

Barra Farming Company Limited is a private company, limited by shares, incorporated in Scotland with registration number SC239958. The registered office is Westby, 64 West High Street, Forfar, DD8 1BJ.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

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BARRA FARMING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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BARRA FARMING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Heritable property	-	4.0%	reducing balance
Plant and machinery	-	12.5%	reducing balance
Motor Vehicles	-	25.0%	reducing balance
Tractors	-	12.5%	reducing balance
Playbarn equipment	-	12.5%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

AGRICULTURAL SUPPORT SCHEMES

Income from the Basic Payment Scheme is not recognised until 31 December of the relevant scheme year, when all conditions of the scheme have been complied with.

2.7

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers 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 profit or loss.

2.8

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 40 (2024 - 40).

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BARRA FARMING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	INVESTMENT PROPERTY

		Freehold investment property
		£
	VALUATION
	Additions at cost	146,944
	AT 31 MARCH 2025	146,944

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

5.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Bank loans	42,636	80,793
Trade creditors	351,411	417,516
Other creditors	2,184,075	2,071,918
	2,578,122	2,570,227

6.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2025	2024
		£	£

Bank loans	22,786	478,694
Other creditors	83,719	63,583
	106,505	542,277

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BARRA FARMING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

120,000 (2024 - 120,000) Ordinary shares of £1.00 each	120,000	120,000

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