Rosneath Farms Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: SC041399

ROSNEATH FARMS LTD.

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,368,739

1,391,218

Investments

5

129,169

1,497,908

1,520,387

CURRENT ASSETS

Stocks

607,224

698,875

Debtors

6

156,990

202,259

764,214

901,134

CREDITORS

Amounts falling due within one year

7

1,451,751

1,821,235

NET CURRENT LIABILITIES

(687,537

)

(920,101

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

810,371

600,286

CREDITORS

Amounts falling due after more than one year

8

1,742

19,134

NET ASSETS

808,629

581,152

CAPITAL AND RESERVES

Called up share capital

340

Retained earnings

808,289

580,812

808,629

581,152

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

A S Calderwood - Director

1.	STATUTORY INFORMATION

Rosneath Farms Ltd is a private company, limited by shares, registered in Scotland. The company's registered office is Caledonia House, 89 Seaward Street, Glasgow, G41 1HJ.

The presentation currency of the financial statements is Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the 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 conventions as modified by the revaluation of certain assets. There were no material departures from this standard.

Judgements

The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

Nil rate depreciation

Plant and machinery etc

-

33.3% on cost, 20% on reducing balance, 15% on reducing balance and 10% on cost

Tangible fixed assets are included at cost less accumulated depreciation and accumulated impairment. Where estimated residual value at the balance sheet date is considered to be equivalent to cost, no depreciation will be charged.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Stocks

Stocks are valued at the lower of cost and estimated selling price less cost to sell.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured at fair value with changes recognised in profit and loss if the shares are publicly traded or their fair value can be measured reliably or at cost less impairment for all other investments.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Hire purchase and leasing commitments

Assets purchased under finance leases and hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account over the relevant period.

Rentals receivable under operating leases where substantially all the benefits and risks of ownership remain with the lessor, are charged to the profit and loss account on a straight line basis over the period of the lease.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 December 2024

1,079,301

1,059,026

2,138,327

Additions

-

5,552

At 30 November 2025

1,079,301

1,064,578

2,143,879

DEPRECIATION

At 1 December 2024

-

747,109

Charge for year

-

28,031

At 30 November 2025

-

775,140

NET BOOK VALUE

At 30 November 2025

1,079,301

289,438

1,368,739

At 30 November 2024

1,079,301

311,917

1,391,218

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

Plant and

machinery

etc

£

COST

At 1 December 2024

101,841

Transfer to ownership

(36,000

)

At 30 November 2025

65,841

DEPRECIATION

At 1 December 2024

32,515

Charge for year

6,805

Transfer to ownership

(12,038

)

At 30 November 2025

27,282

NET BOOK VALUE

At 30 November 2025

38,559

At 30 November 2024

69,326

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 December 2024

and 30 November 2025

129,169

NET BOOK VALUE

At 30 November 2025

129,169

At 30 November 2024

129,169

The directors believe that the cost value is an accurate representation of fair value at the year end.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

101,796

109,803

Other debtors

55,194

92,456

156,990

202,259

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdraft

1,179,234

1,295,936

Hire purchase contracts

10,726

14,591

Trade creditors

209,719

446,401

Taxation and social security

5,506

2,687

Other creditors

46,566

61,620

1,451,751

1,821,235

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans

-

6,667

Hire purchase contracts

1,742

12,467

1,742

19,134

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank overdrafts

56,098

139,568

Bank loans

1,123,136

1,163,035

Hire purchase contracts

12,468

27,058

1,191,702

1,329,661

The bank hold securities which were registered with a negative pledge to Companies House on 1 February 2018 over the following assets:

a) Barreman Farm, Clachan Farm and Home Farm, together with land at Clynder under the Scottish Land Register Title Number DMB94010.

b) High Ground at Mill of Camsail, Roseneath, Helensburgh, G84 OQE, subjects on the north side of Rosneath Road, Rosneath, Helensburgh to the north west of Camsail Cottage and the Home Farm, Rosneath under the Scottish Land Register Title Numbers DMB48987, DMB9348 and DMB90537 respectively.

Hire purchase contracts are secured over the assets to which they relate.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2025 and 30 November 2024:

2025

2024

£

A S Calderwood

Balance outstanding at start of year

8,224

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

8,224

M H Calderwood

Balance outstanding at start of year

(6,883

)

(8,627

)

Amounts advanced

7,594

4,262

Amounts repaid

-

(2,518

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

711

(6,883

)

These loans are interest free, unsecured and no repayment terms have been established.