ACCOUNTS - Final Accounts

Registered number: SC176551

R G S FARMING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

R G S FARMING LIMITED

COMPANY INFORMATION

DIRECTORS	Mr R G Skea
	Mrs E J C Skea


COMPANY SECRETARY	Mrs E J C Skea


REGISTERED NUMBER	SC176551


REGISTERED OFFICE	Dykehead Cottage
	Burnside
	By Forfar
	Angus
	DD8 2RY


ACCOUNTANTS	EQ Accountants Limited
	Chartered Accountants
	Westby
	64 West High Street
	Forfar
	Angus
	DD8 1BJ

R G S FARMING LIMITED

REGISTERED NUMBER: SC176551

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2025

		2025		2024
		£		£

FIXED ASSETS
Tangible fixed assets			2,920,301		2,599,971
			2,920,301		2,599,971
CURRENT ASSETS
Stocks		40,683		34,467
Debtors: amounts falling due within one year	5	556,575		396,290
Bank & cash balances		234		119
		597,492		430,876
Creditors: amounts falling due within one year		(1,560,370)		(1,245,048)
NET CURRENT LIABILITIES			(962,878)		(814,172)
TOTAL ASSETS LESS CURRENT LIABILITIES			1,957,423		1,785,799
Creditors: amounts falling due after more than one year	6		(763,488)		(636,968)
PROVISIONS FOR LIABILITIES
Deferred tax		(59,597)		(48,070)
			(59,597)		(48,070)
NET ASSETS			1,134,338		1,100,761

CAPITAL AND RESERVES
Called up share capital	7		930,000		930,000
Profit and loss account			204,338		170,761
			1,134,338		1,100,761

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R G S FARMING LIMITED

REGISTERED NUMBER: SC176551

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JULY 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 statement of income and retained earnings 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 27 April 2026.

Mr R G Skea

Director

The notes on pages 3 to 7 form part of these financial statements.

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R G S FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1.	GENERAL INFORMATION

R G S Farming Limited is a company limited by shares and is registered in Scotland. The registered office is Dykehead, Burnside, By Forfar, Angus, DD8 2RY this is also the principal place of business.

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 following principal accounting policies have been applied:

2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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R G S FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.3

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 reporting 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 reporting 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 reporting date.

2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

				Heritable property	-	not depreciated
				Plant and Machinery	-	12.5% reducing balance
				Motor Vehicles	-	25% reducing balance
				Fixtures & Fittings	-	12.5% reducing balance
				Solar panels	-	5% straight line
				Property Improvements	-	4% straight line

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.

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R G S FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

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		R G S FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

	4.	TANGIBLE FIXED ASSETS

		Heritable Property	Plant and Machinery	Motor Vehicles	Fixtures & Fittings	Solar panels	Property improvm'ts	Total
		£	£	£	£	£	£	£
	COST OR VALUATION
	At 1 August 2024	1,209,640	1,495,004	26,854	5,705	230,140	233,554	3,200,897
	Additions	-	464,546	99,464	-	-	-	564,010
	Disposals	-	-	(24,854)	-	-	-	(24,854)
	At 31 July 2025	1,209,640	1,959,550	101,464	5,705	230,140	233,554	3,740,053
	DEPRECIATION
	At 1 August 2024	-	364,404	22,428	5,322	33,921	174,851	600,926
	Charge for the year on owned assets	-	199,398	24,868	48	11,507	3,436	239,257
	Disposals	-	-	(20,431)	-	-	-	(20,431)
	At 31 July 2025	-	563,802	26,865	5,370	45,428	178,287	819,752
	NET BOOK VALUE
	At 31 July 2025	1,209,640	1,395,748	74,599	335	184,712	55,267	2,920,301
	At 31 July 2024	1,209,640	1,130,600	4,426	383	196,219	58,703	2,599,971

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R G S FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

5.

DEBTORS

					2025	2024
					£	£


	Trade debtors	493,327	381,488
	Other debtors	61,318	14,802
	Prepayments and accrued income	1,930	-
		556,575	396,290

6.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
					2025	2024
					£	£

	Bank loans	55,000	75,000
	Net obligations under finance leases and hire purchase contracts	708,488	561,968
		763,488	636,968

7.	SHARE CAPITAL
					2025	2024
					£	£

		ALLOTTED, CALLED UP AND FULLY PAID

		930,000 (2024 - 930,000) Ordinary shares of £1.00 each	930,000	930,000

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