William Young (Skerrington Mains) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC027362 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 NOVEMBER 2025

FOR

WILLIAM YOUNG (SKERRINGTON MAINS)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss J Young

W Young

REGISTERED OFFICE:

Skerrington Mains

Hurlford

Kilmarnock

Ayrshire

KA1 5JB

REGISTERED NUMBER:

SC027362 (Scotland)

ACCOUNTANT:

John Murphy & Company (Scotland) Limited

Chartered Accountants

Castle Chambers

67 Main Street

Bothwell

Lanarkshire

G71 8ER

FIXED ASSETS

Tangible assets

4

528,129

547,380

CURRENT ASSETS

Stocks

5

119,836

115,447

Debtors

6

48,431

44,741

Cash at bank

12,865

-

181,132

160,188

CREDITORS

Amounts falling due within one year

7

119,256

136,344

NET CURRENT ASSETS

61,876

23,844

TOTAL ASSETS LESS CURRENT
LIABILITIES

590,005

571,224

CREDITORS

Amounts falling due after more than one
year

8

(125,132

)

(130,387

)

PROVISIONS FOR LIABILITIES

11

(63,781

)

(63,377

)

NET ASSETS

401,092

377,460

CAPITAL AND RESERVES

Called up share capital

12

100,000

Retained earnings

301,092

277,460

SHAREHOLDERS' FUNDS

401,092

377,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 November 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 29 May 2026 and were signed on its behalf by:

W Young - Director

1.	STATUTORY INFORMATION

William Young (Skerrington Mains) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Buildings

-

5% on cost and 2% on cost

Plant and machinery

-

25% on cost and 25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock has been valued at cost except for mature animals in the herd and flock which appear at "herd basis" valuation.

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.

Hire purchase agreements

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Buildings

machinery

vehicles

Totals

£

COST

At 29 November 2024

451,324

467,365

72,335

991,024

Additions

-

51,118

8,700

59,818

Disposals

-

(52,010

)

(2,300

)

(54,310

)

At 28 November 2025

451,324

466,473

78,735

996,532

DEPRECIATION

At 29 November 2024

170,148

241,528

31,968

443,644

Charge for year

9,026

48,814

12,267

70,107

Eliminated on disposal

-

(43,263

)

(2,085

)

(45,348

)

At 28 November 2025

179,174

247,079

42,150

468,403

NET BOOK VALUE

At 28 November 2025

272,150

219,394

36,585

528,129

At 28 November 2024

281,176

225,837

40,367

547,380

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 29 November 2024

47,950

47,535

95,485

Additions

44,000

-

44,000

Disposals

(32,000

)

-

(32,000

)

Transfer to ownership

(15,950

)

-

(15,950

)

At 28 November 2025

44,000

47,535

91,535

DEPRECIATION

At 29 November 2024

30,669

12,626

43,295

Charge for year

15,319

8,727

24,046

Eliminated on disposal

(23,351

)

-

(23,351

)

Transfer to ownership

(11,637

)

-

(11,637

)

At 28 November 2025

11,000

21,353

32,353

NET BOOK VALUE

At 28 November 2025

33,000

26,182

59,182

At 28 November 2024

17,281

34,909

52,190

5.

STOCKS

28.11.25

28.11.24

£

Stocks

101,112

96,723

Feed stocks

18,724

119,836

115,447

Stock has been valued at cost except for mature animals in the livestock which appear at "herd basis" valuation.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.11.25

28.11.24

£

Trade debtors

33,916

29,574

Directors' current accounts

1,932

-

VAT

11,683

15,167

Prepayments

900

-

48,431

44,741

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.11.25

28.11.24

£

Bank loans and overdrafts (see note 9)

-

38,170

Other loans (see note 9)

12,000

Hire purchase contracts

18,718

9,518

Trade creditors

56,841

36,527

Corporation tax

22,424

31,089

Social security and other taxes

463

413

Directors' current accounts

-

3,333

Accruals and deferred income

8,810

5,294

119,256

136,344

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28.11.25

28.11.24

£

Bank loans (see note 9)

-

12,626

Other loans (see note 9)

90,000

Hire purchase contracts

35,132

27,761

125,132

130,387

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

42,000

9.

LOANS

An analysis of the maturity of loans is given below:

28.11.25

28.11.24

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

18,012

Bank loans

-

20,158

Other loans

12,000

50,170

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

12,626

Other loans - 1-2 years

12,000

24,626

Amounts falling due between two and five years:

Other loans - 2-5 years

36,000

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

42,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

28.11.25

28.11.24

£

Bank overdraft

-

18,012

Bank loans

-

32,784

-

50,796

Bank borrowings are secured by a fixed security and floating charge over the assets of the company and a standard security and guarantee granted by William Young over land owned personally and farmed by the company.

11.	PROVISIONS FOR LIABILITIES

28.11.25

28.11.24

£

Deferred tax

63,781

63,377

Deferred

tax

£

Balance at 29 November 2024

63,377

Provided during year

404

Balance at 28 November 2025

63,781

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.11.25

28.11.24

value:

£

100,000

Ordinary

£1

100,000

13.	RELATED PARTY DISCLOSURES

The land farmed by the company is owned by W Young, a director and the majority shareholder, and is let to the company at no cost.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is W Young.