Saltire Highland Farms Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC774565 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Saltire Highland Farms Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

B Munro

REGISTERED OFFICE:

Caplich House

Alness

Ross-Shire

IV17 0TW

REGISTERED NUMBER:

SC774565 (Scotland)

ACCOUNTANTS:

Stewart & Stewart Ltd

Chartered Accountants

Achorn House

34 Millbank Road

Munlochy

Ross-Shire

IV8 8ND

FIXED ASSETS

Tangible assets

4

2,222,315

2,260,129

Investment property

5

491,577

2,713,892

2,751,706

CURRENT ASSETS

Stocks

20,992

5,222

Debtors

90,313

27,454

Cash at bank

457,158

393,017

568,463

425,693

CREDITORS

Amounts falling due within one year

85,917

47,991

NET CURRENT ASSETS

482,546

377,702

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,196,438

3,129,408

PROVISIONS FOR LIABILITIES

7,342

16,446

NET ASSETS

3,189,096

3,112,962

CAPITAL AND RESERVES

Called up share capital

6

100,525

Share premium

2,866,175

Retained earnings

222,396

146,262

SHAREHOLDERS' FUNDS

3,189,096

3,112,962

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 director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 November 2025 and were signed by:

B Munro - Director

1.	STATUTORY INFORMATION

Saltire Highland Farms 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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. Turnover is recognised when 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 when the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance

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.

Investment properties are those properties that are held either to earn rental income or for capital appreciation or both. Investment properties are measured initially at cost including transaction costs and thereafter are stated at fair value, which reflects market conditions at the balance sheet date. Gains and losses arising from changes in the fair value of investment properties are recognised in the income statement in the year in which they arise.

Investment properties are stated at fair value as determined by the Director. In determining the fair value of each investment property, the Director makes use of historical and current market data as well as existing lease agreements.

Stocks

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

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.

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 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

2,271,237

Disposals

(35,500

)

At 31 March 2025

2,235,737

DEPRECIATION

At 1 April 2024

11,108

Charge for year

11,189

Eliminated on disposal

(8,875

)

At 31 March 2025

13,422

NET BOOK VALUE

At 31 March 2025

2,222,315

At 31 March 2024

2,260,129

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

491,577

NET BOOK VALUE

At 31 March 2025

491,577

At 31 March 2024

491,577

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

2,500

Ordinary

£1

2,500

98,025

Preference

£1

98,025

100,525

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Saltire Highland Farms Limited for the year ended 31 March 2025 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Saltire Highland Farms Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Saltire Highland Farms Limited and state those matters that we have agreed to state to the director of Saltire Highland Farms Limited in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

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

Stewart & Stewart Ltd

Chartered Accountants

Achorn House

34 Millbank Road

Munlochy

Ross-Shire

IV8 8ND

7 November 2025