Company Registration No. SC032011 (Scotland)
WELLFIELD FARMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
James Hair Group Limited
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
WELLFIELD FARMS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
79,512
54,155
Current assets
Debtors
4
1,968
1,923
Cash at bank and in hand
122,270
113,424
124,238
115,347
Creditors: amounts falling due within one year
5
(19,963)
(20,339)
Net current assets
104,275
95,008
Total assets less current liabilities
183,787
149,163
Creditors: amounts falling due after more than one year
6
(527,615)
(462,016)
Net liabilities
(343,828)
(312,853)
Capital and reserves
Called up share capital
7
18,002
18,002
Profit and loss reserves
(361,830)
(330,855)
Total equity
(343,828)
(312,853)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 2 June 2026
CA Stewart
Director
Company Registration No. SC032011
WELLFIELD FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -
1
Accounting policies
Company information

Wellfield Farms Limited is a private company limited by shares incorporated in Scotland. The registered office is Wellfield House, Strathmiglo, Fife, KY14 7SG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on the going concern basis. The appropriateness of this basis is dependent upon the continued support of the director and shareholders.

1.3
Turnover

T urnover comprises the invoiced value of rent received by the company, net of Value Added Tax.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tenant's Improvements
10% reducing balance basis
Plant and equipment
15% reducing balance basis
Fixtures and fittings
10% straight line basis
Motor vehicles
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.

WELLFIELD FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
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.

1.8
Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts paid by the company to the funds in respect of the year.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
WELLFIELD FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 4 -
3
Tangible fixed assets
Tenant's Improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2024
63,777
130,401
21,808
122,618
338,604
Additions
-
0
53,500
-
0
-
0
53,500
Disposals
-
0
(19,897)
-
0
-
0
(19,897)
At 30 September 2025
63,777
164,004
21,808
122,618
372,207
Depreciation and impairment
At 1 October 2024
63,777
92,332
21,808
106,532
284,449
Depreciation charged in the year
-
0
11,903
-
0
4,021
15,924
Eliminated in respect of disposals
-
0
(7,678)
-
0
-
0
(7,678)
At 30 September 2025
63,777
96,557
21,808
110,553
292,695
Carrying amount
At 30 September 2025
-
67,447
-
0
12,065
79,512
At 30 September 2024
-
0
38,069
-
0
16,086
54,155
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Prepayments and accrued income
1,968
1,923
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
4,653
2,113
Other taxation and social security
1,173
1,882
Other creditors
10,286
4,477
Accruals and deferred income
3,851
11,867
19,963
20,339
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other borrowings
527,615
462,016
WELLFIELD FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 5 -
7
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
4,498 A Ordinary shares of £1 each
4,498
4,498
13,494 B Ordinary shares of £1 each
13,494
13,494
10 C Ordinary shares of £1 each
10
10
18,002
18,002
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