2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC547314 2023-11-01 2024-10-31 SC547314 2024-10-31 SC547314 2023-10-31 SC547314 2022-11-01 2023-10-31 SC547314 2023-10-31 SC547314 2022-10-31 SC547314 core:LandBuildings 2023-11-01 2024-10-31 SC547314 core:PlantMachinery 2023-11-01 2024-10-31 SC547314 bus:Director1 2023-11-01 2024-10-31 SC547314 bus:Director2 2023-11-01 2024-10-31 SC547314 core:LandBuildings 2023-10-31 SC547314 core:PlantMachinery 2023-10-31 SC547314 core:LandBuildings 2024-10-31 SC547314 core:PlantMachinery 2024-10-31 SC547314 core:WithinOneYear 2024-10-31 SC547314 core:WithinOneYear 2023-10-31 SC547314 core:ShareCapital 2024-10-31 SC547314 core:ShareCapital 2023-10-31 SC547314 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC547314 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC547314 core:LandBuildings 2023-10-31 SC547314 core:PlantMachinery 2023-10-31 SC547314 bus:SmallEntities 2023-11-01 2024-10-31 SC547314 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC547314 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC547314 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC547314 bus:FullAccounts 2023-11-01 2024-10-31
COMPANY REGISTRATION NUMBER: SC547314

Russell Farming Limited

Filleted Unaudited Financial Statements

For the year ended

31 October 2024

Russell Farming Limited

Financial Statements

Year ended 31 October 2024

Contents | Page

Statement of financial position | 1

Notes to the financial statements | 3

Russell Farming Limited

Statement of Financial Position

31 October 2024

| 2024 | 2023
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 58,845 | 61,303

Current assets

Stocks | 19,800 |  | 63,521
Debtors | 6 | 24,401 |  | 8,880
Cash at bank and in hand | 69,166 |  | 32,962
| --------- |  | ---------
| 113,367 |  | 105,363

Creditors: amounts falling due within one year | 7 | 93,324 |  | 80,312
| --------- |  | ---------
Net current assets |  | 20,043 | 25,051
|  | -------- | --------
Total assets less current liabilities |  | 78,888 | 86,354

Provisions

Taxation including deferred tax |  | 1,329 | 1,595
|  | -------- | --------
Net assets |  | 77,559 | 84,759
|  | -------- | --------

Russell Farming Limited

Statement of Financial Position (continued)

31 October 2024

| 2024 | 2023
Note | £ | £ | £

Capital and reserves

Called up share capital |  | 100 | 100
Profit and loss account |  | 77,459 | 84,659
|  | -------- | --------
Shareholders funds |  | 77,559 | 84,759
|  | -------- | --------

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 October 2024 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 .
These financial statements were approved by the board of directors and authorised for issue on 19 February 2026 , and are signed on behalf of the board by:

Mrs L E Jewell | Mr J A Russell
Director | Director

Company registration number: SC547314

Russell Farming Limited

Notes to the Financial Statements

Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Carston Farm, By Killearn, Glasgow, G63 NLJ.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current 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.
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:

| Land & Buildings | - | 2% reducing balance
| Plant & Equipment | - | 15% reducing balance

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.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets

| Land and buildings | Plant and machinery | Total
| £ | £ | £
Cost |  |  |
At 1 November 2023 | 58,300 | 13,490 | 71,790
Disposals | – | ( 251) | ( 251)
| -------- | -------- | --------
At 31 October 2024 | 58,300 | 13,239 | 71,539
| -------- | -------- | --------
Depreciation |  |  |
At 1 November 2023 | 5,394 | 5,093 | 10,487
Charge for the year | 1,058 | 1,260 | 2,318
Disposals | – | ( 111) | ( 111)
| -------- | -------- | --------
At 31 October 2024 | 6,452 | 6,242 | 12,694
| -------- | -------- | --------
Carrying amount |  |  |
At 31 October 2024 | 51,848 | 6,997 | 58,845
| -------- | -------- | --------
At 31 October 2023 | 52,906 | 8,397 | 61,303
| -------- | -------- | --------

6. Debtors

| 2024 | 2023
| £ | £
Trade debtors | 16,595 | –
Other debtors | 7,806 | 8,880
| -------- | -------
| 24,401 | 8,880
| -------- | -------

7. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Trade creditors | 14,757 | 21,587
Corporation tax | 1,239 | 2,010
Other creditors | 77,328 | 56,715
| -------- | --------
| 93,324 | 80,312
| -------- | --------

8. Directors' advances, credits and guarantees
The director's combined loan account was not in debit at any time during the current or previous period.