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

COMPANY REGISTRATION NUMBER: 00695725

Scottow Farms Limited

Unaudited financial statements

5 April 2025

Scottow Farms Limited

Statement of financial position

5 April 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5	600,513	905,740
Investments	6	81	81
		---------	---------
		600,594	905,821

Current assets

Stocks		187,397	269,578
Debtors	7	396,651	503,522
		---------	---------
		584,048	773,100

Creditors: Amounts falling due within one year	8	671,185		656,280
		---------		---------
Net current (liabilities)/assets			( 87,137)		116,820
			---------		-----------
Total assets less current liabilities			513,457		1,022,641

Creditors: Amounts falling due after more than one year	9		295,988		264,278

Provisions

Taxation including deferred tax	4,695	136,857
	---------	-----------
Net assets	212,774	621,506
	---------	-----------

Capital and reserves

Called up share capital	10	15,000	15,000
Revaluation reserve		–	334,697
Profit and loss account		197,774	271,809
		---------	---------
Shareholders funds		212,774	621,506
		---------	---------

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 income statement has not been delivered.

For the year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Scottow Farms Limited

Statement of financial position (continued)

5 April 2025

These financial statements were approved by the board of directors and authorised for issue on 5 January 2026 , and are signed on behalf of the board by:

Mr S.D. Shaw
Director

Company registration number: 00695725

Scottow Farms Limited

Notes to the financial statements

Year ended 5 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Scottow Hall, Scottow, Norwich, Norfolk, NR10 5DF.

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

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Investments

Investments are included at cost less provision for diminution in value. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

Investment income comprises dividends declared during the accounting year and interest receivable on listed and unlisted investments.

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.

Deferred tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

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.

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:

Buildings and improvements	-	Depreciated over 10 to 25 years
Plant and machinery	-	15% reducing balance
Office equipment	-	10% reducing balance
Motor vehicles	-	25% 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.

Stocks

Commodity stocks, livestock and cultivations are valued at the lower of cost and net realisable value by the directors, after making due allowance for obsolete and slow moving items. The valuation of crops in store, livestock and cultivations includes an element of depreciation.

Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charges to the profit and loss account using the sum of digits method.

4. Employee numbers

The average number of employees during the year was 5 (2024: 5 ).

5. Tangible assets

	Leasehold improvements	Plant and machinery	Office equipment	Motor vehicles	Investment property	Total
	£	£	£	£	£	£
Cost or valuation
At 6 Apr 2024	70,172	1,241,937	11,937	74,459	464,175	1,862,680
Additions	–	282,338	–	67,455	–	349,793
Disposals	–	( 175,000)	–	( 21,500)	–	( 196,500)
Revaluations	–	–	–	–	( 464,175)	( 464,175)
	-------	-----------	-------	---------	---------	-----------
At 5 Apr 2025	70,172	1,349,275	11,937	120,414	–	1,551,798
	-------	-----------	-------	---------	---------	-----------
Depreciation
At 6 Apr 2024	70,172	802,976	10,348	73,444	–	956,940
Charge for the year	–	83,793	202	946	–	84,941
Disposals	–	( 83,649)	–	( 6,947)	–	( 90,596)
	-------	-----------	-------	---------	---------	-----------
At 5 Apr 2025	70,172	803,120	10,550	67,443	–	951,285
	-------	-----------	-------	---------	---------	-----------
Carrying amount
At 5 Apr 2025	–	546,155	1,387	52,971	–	600,513
	-------	-----------	-------	---------	---------	-----------
At 5 Apr 2024	–	438,961	1,589	1,015	464,175	905,740
	-------	-----------	-------	---------	---------	-----------

6. Investments

	Unlisted investments
	£
Cost
At 6 April 2024 and 5 April 2025	81
	----
Impairment
At 6 April 2024 and 5 April 2025	–
	----

Carrying amount
At 5 April 2025	81
	----
At 5 April 2024	81
	----

7. Debtors

	2025	2024
	£	£
Trade debtors	241,242	276,047
Other debtors	155,409	227,475
	---------	---------
	396,651	503,522
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	375,481	393,962
Trade creditors	28,601	71,346
Accruals and deferred income	25,802	25,318
Corporation tax	8,913	6,480
Social security and other taxes	2,337	4,928
Obligations under finance leases and hire purchase contracts	67,540	63,696
Other creditors	162,511	90,550
	---------	---------
	671,185	656,280
	---------	---------

The hire purchase liabilities are secured on the assets concerned. The bank holds a personal guarantee from Mr S D Shaw, limited to £400,000.

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

	2025	2024
	£	£
Bank loans and overdrafts	27,919	65,980
Shares classed as financial liabilities	95,000	95,000
Obligations under finance leases and hire purchase contracts	107,069	37,298
Other creditors	66,000	66,000
	---------	---------
	295,988	264,278
	---------	---------

The hire purchase liabilities are secured on the assets concerned. The bank holds a personal guarantee from Mr S D Shaw limited to £400,000.

10. Called up share capital

Issued, called up and fully paid

2025		2024
No.	£	No.	£

Amounts presented in equity:

Ordinary shares of £ 1 each	15,000	15,000	15,000	15,000
	-------	-------	-------	-------

Amounts presented in liabilities:

Preference shares shares of £ 1 each	95,000	95,000	95,000	95,000
	-------	-------	-------	-------

11. Director's advances, credits and guarantees

Included within debtors is a an amount due from Mr S D Shaw of £38,406 (2024: £114,434). The maximum overdrawn balance for the year was £124,028 (2024 - £150,512). Interest was charged of £1,656 at the official rate of interest on the overdrawn balance.