David Brown (Farms) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC158866

David Brown (Farms) Limited

Filleted Unaudited Financial Statements

31 March 2025

David Brown (Farms) Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of david brown (farms) limited	1

Statement of financial position	2

Notes to the financial statements	4

David Brown (Farms) Limited

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of David Brown (Farms) Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of David Brown (Farms) Limited for the year ended 31 March 2025, which comprise the statement of financial position 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 www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of David Brown (Farms) Limited, as a body, in accordance with the terms of our engagement letter dated 14 June 2018. Our work has been undertaken solely to prepare for your approval the financial statements of David Brown (Farms) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than David Brown (Farms) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that David Brown (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 loss of David Brown (Farms) Limited. You consider that David Brown (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 David Brown (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.

RITSONS Chartered Accountants

103 HIGH STREET FORRES MORAY IV36 1AA

22 December 2025

David Brown (Farms) Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	1,232,348	1,338,648
Investments	6	2,015	2,015
		------------	------------
		1,234,363	1,340,663

Current assets

Stocks		378,870	303,561
Debtors	7	548,348	160,181
Cash at bank and in hand		–	321,318
		---------	---------
		927,218	785,060

Creditors: amounts falling due within one year	8	1,100,868		882,619
		------------		---------
Net current liabilities			173,650	97,559
			------------	------------
Total assets less current liabilities			1,060,713	1,243,104

Creditors: amounts falling due after more than one year	9	41,637	84,558
		------------	------------
Net assets		1,019,076	1,158,546
		------------	------------

Capital and reserves

Called up share capital	5	5
Profit and loss account	1,019,071	1,158,541
	------------	------------
Shareholders funds	1,019,076	1,158,546
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The 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 Act with respect to accounting records and the preparation of financial statements .

David Brown (Farms) Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

Mr I D Brown
Director

Company registration number: SC158866

David Brown (Farms) Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 103 High Street, FORRES, Moray, IV36 1AA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Revenue recognition

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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Property	-	4% reducing balance
Land & Buildings	-	4% reducing balance
Plant & Machinery	-	10% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Total
	£	£	£
Cost
At 1 April 2024	500,808	1,882,608	2,383,416
Additions	12,000	26,330	38,330
	---------	------------	------------
At 31 March 2025	512,808	1,908,938	2,421,746
	---------	------------	------------
Depreciation
At 1 April 2024	101,576	943,192	1,044,768
Charge for the year	16,450	128,180	144,630
	---------	------------	------------
At 31 March 2025	118,026	1,071,372	1,189,398
	---------	------------	------------
Carrying amount
At 31 March 2025	394,782	837,566	1,232,348
	---------	------------	------------
At 31 March 2024	399,232	939,416	1,338,648
	---------	------------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 31 March 2025	156,993
	---------
At 31 March 2024	391,351
	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024 and 31 March 2025	2,015
	-------
Impairment
At 1 April 2024 and 31 March 2025	–
	-------

Carrying amount
At 31 March 2025	2,015
	-------
At 31 March 2024	2,015
	-------

7. Debtors

	2025	2024
	£	£
Trade debtors	202,606	144,067
Other debtors	345,742	16,114
	---------	---------
	548,348	160,181
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	165,585	–
Trade creditors	174,782	118,661
Corporation tax	–	58,477
Other creditors	760,501	705,481
	------------	---------
	1,100,868	882,619
	------------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	41,637	84,558
	--------	--------

10. Directors' advances, credits and guarantees

At the year end the company was due Mr I D Brown , director, £621,807 (2024 £639,788). This balance has no set repayment dates and interest is not charged.

11. Related party transactions

The LLP David Brown is a related party due to the fact that the directors of David Brown (Farms) Limited are partners in the LLP. As at 31st March 2024 David Brown (Farms) Limited was due the LLP £70,755 (2024 £70,755).