T McF Drummond (Barbeth) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC324104 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

T MCF DRUMMOND (BARBETH) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Thomas McFadzean Drummond

Hugh Douglas Drummond

SECRETARY:

Hugh Douglas Drummond

REGISTERED OFFICE:

C/O Stewart Gilmour & Co

24 Beresford Terrace

Ayr

KA7 2EG

REGISTERED NUMBER:

SC324104 (Scotland)

ACCOUNTANTS:

Stewart Gilmour & Co.

Chartered Accountants

24 Beresford Terrace

Ayr

KA7 2EG

BANKERS:

The Royal Bank of Scotland plc

15 Bridge Street

Stranraer

Dumfries & Galloway

DG9 7JA

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

3,986,201

3,991,679

Investments

6

100

3,986,301

3,991,779

CURRENT ASSETS

Stocks

257,690

172,835

Debtors

7

423,935

425,457

681,625

598,292

CREDITORS

Amounts falling due within one year

8

1,550,874

1,615,016

NET CURRENT LIABILITIES

(869,249

)

(1,016,724

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,117,052

2,975,055

CREDITORS

Amounts falling due after more than one
year

9

(2,293,953

)

(2,251,373

)

PROVISIONS FOR LIABILITIES

(34,007

)

(27,676

)

NET ASSETS

789,092

696,006

CAPITAL AND RESERVES

Called up share capital

11

105

Retained earnings

788,987

695,901

SHAREHOLDERS' FUNDS

789,092

696,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2026 and were signed on its behalf by:

Thomas McFadzean Drummond - Director

1.	STATUTORY INFORMATION

T McF Drummond (Barbeth) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about T McF Drummond (Barbeth) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents the net invoice value of produce supplied to customers.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Basic Payment Scheme Entitlements are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Capital expenditure on property

-

10% on cost and 4% on cost

Plant and equipment

-

12.5% on reducing balance

Tractors and farm bikes

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

No depreciation has been provided by the directors on the cost of farmland within freehold property.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks have been valued at the lower of direct cost or net realisable value other than mature livestock which have been valued on the "herd basis" at the original capital cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised under tangible fixed assets in the balance sheet and depreciated over their estimated useful lives. The interest element of the rental obligations is charged to the profit and loss account over the period of the contract and represents a constant proportion of the balance of capital outstanding.

Rentals payable on operating leases are charged to income on a straight line basis over the term of the agreement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 June 2024

and 31 May 2025

3,135

AMORTISATION

At 1 June 2024

and 31 May 2025

3,135

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 June 2024

3,534,445

1,050,196

4,584,641

Additions

-

132,599

Disposals

-

(69,460

)

(69,460

)

At 31 May 2025

3,534,445

1,113,335

4,647,780

DEPRECIATION

At 1 June 2024

29,662

563,300

592,962

Charge for year

32,916

77,966

110,882

Eliminated on disposal

-

(42,265

)

(42,265

)

At 31 May 2025

62,578

599,001

661,579

NET BOOK VALUE

At 31 May 2025

3,471,867

514,334

3,986,201

At 31 May 2024

3,504,783

486,896

3,991,679

The net book value of the company's fixed assets at 31 May 2025 included £193,598 held under hire purchase contracts (2024 : £178,449).

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2024

and 31 May 2025

100

NET BOOK VALUE

At 31 May 2025

100

At 31 May 2024

100

The fixed asset investments comprise of 1% of the issued share capital of South West Holiday Lets Limited, a company incorporated in Scotland.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

79,162

66,532

Other debtors

344,773

358,925

423,935

425,457

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

118,204

175,653

Hire purchase contracts

52,024

22,046

Trade creditors

161,030

217,744

Taxation and social security

1,291

1,337

Other creditors

1,218,325

1,198,236

1,550,874

1,615,016

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans

2,220,000

Hire purchase contracts

73,953

31,373

2,293,953

2,251,373

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

1,820,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank overdrafts

18,204

75,653

Bank loans

2,320,000

2,338,204

2,395,653

The bank loans and overdraft facilities are secured by a bond and floating charge over the assets of the company together with standard securities over the freehold property.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

£1

100

5

Ordinary 'A'

£1

5

105

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Thomas McFadzean Drummond.