Caseware UK (AP4) 2024.0.164 2024.0.164 2025-05-31 2025-05-31 false Farming 2024-06-01 12 11 true true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC032336 2024-06-01 2025-05-31 SC032336 2023-06-01 2024-05-31 SC032336 2025-05-31 SC032336 2024-05-31 SC032336 c:Director1 2024-06-01 2025-05-31 SC032336 d:Buildings d:LongLeaseholdAssets 2024-06-01 2025-05-31 SC032336 d:Buildings d:LongLeaseholdAssets 2025-05-31 SC032336 d:Buildings d:LongLeaseholdAssets 2024-05-31 SC032336 d:PlantMachinery 2024-06-01 2025-05-31 SC032336 d:PlantMachinery 2025-05-31 SC032336 d:PlantMachinery 2024-05-31 SC032336 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 SC032336 d:MotorVehicles 2024-06-01 2025-05-31 SC032336 d:MotorVehicles 2025-05-31 SC032336 d:MotorVehicles 2024-05-31 SC032336 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 SC032336 d:FurnitureFittings 2024-06-01 2025-05-31 SC032336 d:FurnitureFittings 2025-05-31 SC032336 d:FurnitureFittings 2024-05-31 SC032336 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 SC032336 d:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 SC032336 d:CurrentFinancialInstruments 2025-05-31 SC032336 d:CurrentFinancialInstruments 2024-05-31 SC032336 d:Non-currentFinancialInstruments 2025-05-31 SC032336 d:Non-currentFinancialInstruments 2024-05-31 SC032336 d:CurrentFinancialInstruments d:WithinOneYear 2025-05-31 SC032336 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 SC032336 d:Non-currentFinancialInstruments d:AfterOneYear 2025-05-31 SC032336 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 SC032336 d:ShareCapital 2025-05-31 SC032336 d:ShareCapital 2024-05-31 SC032336 d:CapitalRedemptionReserve 2025-05-31 SC032336 d:CapitalRedemptionReserve 2024-05-31 SC032336 d:OtherMiscellaneousReserve 2025-05-31 SC032336 d:OtherMiscellaneousReserve 2024-05-31 SC032336 d:RetainedEarningsAccumulatedLosses 2025-05-31 SC032336 d:RetainedEarningsAccumulatedLosses 2024-05-31 SC032336 c:OrdinaryShareClass1 2024-06-01 2025-05-31 SC032336 c:OrdinaryShareClass1 2025-05-31 SC032336 c:OrdinaryShareClass1 2024-05-31 SC032336 c:OrdinaryShareClass2 2024-06-01 2025-05-31 SC032336 c:OrdinaryShareClass2 2025-05-31 SC032336 c:OrdinaryShareClass2 2024-05-31 SC032336 c:FRS102 2024-06-01 2025-05-31 SC032336 c:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 SC032336 c:FullAccounts 2024-06-01 2025-05-31 SC032336 c:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 SC032336 e:PoundSterling 2024-06-01 2025-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: SC032336 LUFFNESS MAINS FARMING LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MAY 2025
LUFFNESS MAINS FARMING LTD CONTENTS
| Page
Balance Sheet | 1 - 2
Notes to the Financial Statements | 3 - 9
LUFFNESS MAINS FARMING LTD REGISTERED NUMBER: SC032336 BALANCE SHEET AS AT 31 MAY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 1,145,200 |  | 997,575
Investments | 5 |  | 100 |  | 100
|  |  | 1,145,300 |  | 997,675
Current assets |  |  |  |  |
Stocks |  | 831,676 |  | 631,216 |
Debtors: amounts falling due within one year | 6 | 380,612 |  | 670,399 |
Cash at bank and in hand |  | 638 |  | 524 |
|  | 1,212,926 |  | 1,302,139 |
Creditors: amounts falling due within one year | 7 | (1,567,146) |  | (1,702,764) |
Net current liabilities |  |  | (354,220) |  | (400,625)
Total assets less current liabilities |  |  | 791,080 |  | 597,050
Creditors: amounts falling due after more than one year | 8 |  | (219,719) |  | (205,040)
Net assets |  |  | 571,361 |  | 392,010
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 20,100 |  | 20,100
Capital redemption reserve |  |  | 30,000 |  | 30,000
Deferred government grant |  |  | 84,585 |  | 92,757
Profit and loss account |  |  | 436,676 |  | 249,153
|  |  | 571,361 |  | 392,010
Page 1
LUFFNESS MAINS FARMING LTD REGISTERED NUMBER: SC032336 BALANCE SHEET (CONTINUED) AS AT 31 MAY 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 profit and loss account 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 29 September 2025.
Mr A M Stevenson
Director
Page 2
LUFFNESS MAINS FARMING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Luffness Mains Farming Ltd is a private company limited by shares incorporated in Scotland. The registered office is Luffness Mains Farm, Aberlady, East Lothian, EH32 0PZ. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company is reliant on the continued support of the Royal Bank of Scotland and they have confirmed their intention to continue to support the company. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
| 2.3 | Change of name
On 2 October 2024 the company changed its name from John M. Stevenson Limited to Luffness Mains Farming Ltd.
| 2.4 | Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
| 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. Page 3
LUFFNESS MAINS FARMING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.5 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method . Depreciation is provided on the following basis:
|  |  |  | Land, buildings and tenants' improvements | - | 4% and 10% straight line
|  |  |  | Plant and machinery | - | 5% - 20% straight line
|  |  |  | Motor vehicles | - | 10% - 33% straight line
|  |  |  | Fixtures and fittings | - | 20% straight line and 25% 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 | Fixed asset investments
Interests in unlisted investments, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
| 2.7 | Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
| 2.8 | Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
| 2.9 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Page 4
LUFFNESS MAINS FARMING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.12 | 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 balance sheet 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 balance sheet 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 balance sheet date.
| 2.13 | Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Page 5
LUFFNESS MAINS FARMING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.14 | Retirement benefits
The pension costs charged in the financial statements represent the contributions payable by the company during the year.
| 2.15 | Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. The company received a grant for a new building in 2010 and has accounted for this as a reserve as this was not conditional on any future event, all terms having been met on payment of the grant.
3. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Total | 12 | 11
Page 6
LUFFNESS MAINS FARMING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
4. | Tangible fixed assets
|  | Land and buildings | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 June 2024 | 904,615 | 1,981,056 | 212,410 | 13,437 | 3,111,518
| Additions | 10,107 | 146,705 | 260,845 | 3,243 | 420,900
| Disposals | - | (45,000) | (93,319) | - | (138,319)
| At 31 May 2025 | 914,722 | 2,082,761 | 379,936 | 16,680 | 3,394,099
| Depreciation |  |  |  |  |
| At 1 June 2024 | 632,927 | 1,326,417 | 142,554 | 12,045 | 2,113,943
| Charge for the year on owned assets | 24,141 | 189,765 | 44,580 | 1,289 | 259,775
| Disposals | - | (31,500) | (93,319) | - | (124,819)
| At 31 May 2025 | 657,068 | 1,484,682 | 93,815 | 13,334 | 2,248,899
| Net book value |  |  |  |  |
| At 31 May 2025 | 257,654 | 598,079 | 286,121 | 3,346 | 1,145,200
| At 31 May 2024 | 271,689 | 654,639 | 69,856 | 1,391 | 997,575
Page 7
LUFFNESS MAINS FARMING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
5. | Fixed asset investments
|  | Unlisted investments
|  | £
| Cost or valuation |
| At 1 June 2024 | 100
| At 31 May 2025 | 100
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 260,035 | 619,398
| Other debtors | 26,180 | 20,297
| Prepayments and accrued income | 19,397 | 20,454
| Deferred taxation | 75,000 | 10,250
|  | 380,612 | 670,399
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 592,018 | 648,692
| Bank loans | 70,000 | 70,000
| Trade creditors | 610,990 | 795,063
| Other taxation and social security | 9,589 | 8,600
| Obligations under finance lease and hire purchase contracts | 107,910 | 51,723
| Other creditors | 43,808 | 2,919
| Accruals and deferred income | 132,831 | 125,767
|  | 1,567,146 | 1,702,764
| The bank loan and overdraft facilities are secured by a bond and floating charge.
Page 8
LUFFNESS MAINS FARMING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 26,251 | 96,250
| Net obligations under finance leases and hire purchase contracts | 193,468 | 108,790
|  | 219,719 | 205,040
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 20,000 (2024 - 20,000) Ordinary shares shares of £1.00 each | 20,000 | 20,000
|  | 100 (2024 - 100) Deferred shares shares of £1.00 each | 100 | 100
|  |  | 20,100 | 20,100
10. | Capital commitments
| At 31 May 2025 the Company had capital commitments as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Acquisition of tangible fixed assets | - | 105,106
|  | - | 105,106
11. | Related party transactions
| The directors are of the opinion that related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.
Page 9