IRIS Accounts Production v26.1.10.61 SC180688 Board of Directors 1.11.24 31.10.25 31.10.25 false true false false true false Ordinary shares 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC180688 2024-10-31 SC180688 2025-10-31 SC180688 2024-11-01 2025-10-31 SC180688 2023-10-31 SC180688 2023-11-01 2024-10-31 SC180688 2024-10-31 SC180688 ns15:Scotland 2024-11-01 2025-10-31 SC180688 ns14:PoundSterling 2024-11-01 2025-10-31 SC180688 ns10:Director1 2024-11-01 2025-10-31 SC180688 ns10:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 SC180688 ns10:SmallEntities 2024-11-01 2025-10-31 SC180688 ns10:AuditExempt-NoAccountantsReport 2024-11-01 2025-10-31 SC180688 ns10:SmallCompaniesRegimeForDirectorsReport 2024-11-01 2025-10-31 SC180688 ns10:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 SC180688 ns10:FullAccounts 2024-11-01 2025-10-31 SC180688 ns10:OrdinaryShareClass1 2024-11-01 2025-10-31 SC180688 ns10:Director2 2024-11-01 2025-10-31 SC180688 ns10:CompanySecretary1 2024-11-01 2025-10-31 SC180688 ns10:RegisteredOffice 2024-11-01 2025-10-31 SC180688 ns5:CurrentFinancialInstruments 2025-10-31 SC180688 ns5:CurrentFinancialInstruments 2024-10-31 SC180688 ns5:Non-currentFinancialInstruments 2025-10-31 SC180688 ns5:Non-currentFinancialInstruments 2024-10-31 SC180688 ns5:ShareCapital 2025-10-31 SC180688 ns5:ShareCapital 2024-10-31 SC180688 ns5:RetainedEarningsAccumulatedLosses 2025-10-31 SC180688 ns5:RetainedEarningsAccumulatedLosses 2024-10-31 SC180688 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-11-01 2025-10-31 SC180688 ns5:PlantMachinery 2024-11-01 2025-10-31 SC180688 ns5:FurnitureFittings 2024-11-01 2025-10-31 SC180688 ns5:ComputerEquipment 2024-11-01 2025-10-31 SC180688 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-10-31 SC180688 ns5:PlantMachinery 2024-10-31 SC180688 ns5:FurnitureFittings 2024-10-31 SC180688 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-10-31 SC180688 ns5:PlantMachinery 2025-10-31 SC180688 ns5:FurnitureFittings 2025-10-31 SC180688 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-10-31 SC180688 ns5:PlantMachinery 2024-10-31 SC180688 ns5:FurnitureFittings 2024-10-31 SC180688 ns5:MotorVehicles 2024-10-31 SC180688 ns5:ComputerEquipment 2024-10-31 SC180688 ns5:MotorVehicles 2024-11-01 2025-10-31 SC180688 ns5:MotorVehicles 2025-10-31 SC180688 ns5:ComputerEquipment 2025-10-31 SC180688 ns5:MotorVehicles 2024-10-31 SC180688 ns5:ComputerEquipment 2024-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee ns5:PlantMachinery 2024-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2024-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee 2024-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee ns5:PlantMachinery 2024-11-01 2025-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2024-11-01 2025-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee 2024-11-01 2025-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee ns5:PlantMachinery 2025-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2025-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee 2025-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee ns5:PlantMachinery 2024-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2024-10-31 SC180688 ns5:LeasedAssetsHeldAsLessee 2024-10-31 SC180688 ns5:CostValuation 2024-10-31 SC180688 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-10-31 SC180688 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-10-31 SC180688 ns5:Secured 2025-10-31 SC180688 ns5:Secured 2024-10-31 SC180688 ns5:DeferredTaxation 2024-10-31 SC180688 ns5:DeferredTaxation 2025-10-31 SC180688 ns10:OrdinaryShareClass1 2025-10-31 SC180688 ns5:RetainedEarningsAccumulatedLosses 2024-10-31 SC180688 ns5:RetainedEarningsAccumulatedLosses 2024-11-01 2025-10-31

REGISTERED NUMBER: SC180688 (Scotland)

Financial Statements for the Year Ended 31 October 2025

for

MACFARLANE FARMS LIMITED

| MACFARLANE FARMS LIMITED (Registered number: SC180688) |

Contents of the Financial Statements

for the Year Ended 31 October 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| MACFARLANE FARMS LIMITED |

Company Information

for the Year Ended 31 October 2025

| DIRECTORS: | J MacFarlane

| I T MacFarlane

| SECRETARY: | C J MacFarlane

| REGISTERED OFFICE: | QUIXWOOD FARM

| DUNS

| BERWICKSHIRE

| TD11 3RS

| REGISTERED NUMBER: | SC180688 (Scotland)

| MACFARLANE FARMS LIMITED (Registered number: SC180688) |

Balance Sheet

31 October 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,500,048 |  | 2,598,979 |  |

Investments | 5 | 5,412 |  | 5,412 |  |

2,505,460 |  | 2,604,391 |  |

CURRENT ASSETS

Stocks | 6 | 3,400,325 |  | 3,133,225 |  |

Debtors | 7 | 667,202 |  | 334,560 |  |

4,067,527 |  | 3,467,785 |  |

CREDITORS

Amounts falling due within one year | 8 | 4,313,318 |  | 3,997,722 |  |

NET CURRENT LIABILITIES | (245,791 | ) | (529,937 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,259,669 |  | 2,074,454 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (1,335,510 | ) | (1,434,029 | ) |

PROVISIONS FOR LIABILITIES | 11 | (75,984 | ) | - |  |

ACCRUALS AND DEFERRED INCOME | (183,973 | ) | (189,186 | ) |

NET ASSETS | 664,202 |  | 451,239 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 2 |  | 2 |  |

Retained earnings | 13 | 664,200 |  | 451,237 |  |

SHAREHOLDERS' FUNDS | 664,202 |  | 451,239 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

| MACFARLANE FARMS LIMITED (Registered number: SC180688) |

Balance Sheet - continued

31 October 2025

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 27 June 2026 and were signed on its behalf by:

I T MacFarlane - Director

| MACFARLANE FARMS LIMITED (Registered number: SC180688) |

Notes to the Financial Statements

for the Year Ended 31 October 2025

1. | STATUTORY INFORMATION

| MACFARLANE FARMS 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.

| Leasehold improvements | - | 2% on cost

| Plant and machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 15% on reducing balance

| Computer equipment | - | 25% on reducing balance

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Hire purchase and leasing commitments

| 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.

| 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.

| Deferred taxation

| In accordance with FRS 19 deferred taxation has been provided on all timing differences.

| Grant reserve

| A capital grant was received in an earlier year in connection with the construction of a new shed. The grant is being released to the profit and loss account in line with the depreciation policy of the asset.

| Single farm payment

| The single farm payment is recognised evenly on a time apportioned basis over the calender year to which it relates.

| MACFARLANE FARMS LIMITED (Registered number: SC180688) |

Notes to the Financial Statements - continued

for the Year Ended 31 October 2025

3. | EMPLOYEES AND DIRECTORS

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

4. | TANGIBLE FIXED ASSETS

| Fixtures

| Leasehold |  | Plant and |  | and

| improvements |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 November 2024 | 1,633,601 |  | 3,863,078 |  | 2,706 |  |

| Additions | 18,304 |  | 247,021 |  | - |  |

| Disposals | - |  | (117,100 | ) | - |  |

| At 31 October 2025 | 1,651,905 |  | 3,992,999 |  | 2,706 |  |

| DEPRECIATION

| At 1 November 2024 | 256,882 |  | 2,675,293 |  | 2,569 |  |

| Charge for year | 32,977 |  | 308,684 |  | 20 |  |

| Eliminated on disposal | - |  | (101,910 | ) | - |  |

| At 31 October 2025 | 289,859 |  | 2,882,067 |  | 2,589 |  |

| NET BOOK VALUE

| At 31 October 2025 | 1,362,046 |  | 1,110,932 |  | 117 |  |

| At 31 October 2024 | 1,376,719 |  | 1,187,785 |  | 137 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 November 2024 | 59,924 |  | 11,358 |  | 5,570,667 |  |

| Additions | - |  | 1,404 |  | 266,729 |  |

| Disposals | - |  | - |  | (117,100 | ) |

| At 31 October 2025 | 59,924 |  | 12,762 |  | 5,720,296 |  |

| DEPRECIATION

| At 1 November 2024 | 26,919 |  | 10,025 |  | 2,971,688 |  |

| Charge for year | 8,251 |  | 538 |  | 350,470 |  |

| Eliminated on disposal | - |  | - |  | (101,910 | ) |

| At 31 October 2025 | 35,170 |  | 10,563 |  | 3,220,248 |  |

| NET BOOK VALUE

| At 31 October 2025 | 24,754 |  | 2,199 |  | 2,500,048 |  |

| At 31 October 2024 | 33,005 |  | 1,333 |  | 2,598,979 |  |

| MACFARLANE FARMS LIMITED (Registered number: SC180688) |

Notes to the Financial Statements - continued

for the Year Ended 31 October 2025

4. | TANGIBLE FIXED ASSETS - continued

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

| Plant and |  | Motor |

| machinery |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 November 2024 | 1,372,500 |  | 59,924 |  | 1,432,424 |  |

| Additions | 173,100 |  | - |  | 173,100 |  |

| Transfer to ownership | (52,900 | ) | - |  | (52,900 | ) |

| At 31 October 2025 | 1,492,700 |  | 59,924 |  | 1,552,624 |  |

| DEPRECIATION

| At 1 November 2024 | 524,666 |  | 26,919 |  | 551,585 |  |

| Charge for year | 208,936 |  | 8,251 |  | 217,187 |  |

| Transfer to ownership | (14,677 | ) | - |  | (14,677 | ) |

| At 31 October 2025 | 718,925 |  | 35,170 |  | 754,095 |  |

| NET BOOK VALUE

| At 31 October 2025 | 773,775 |  | 24,754 |  | 798,529 |  |

| At 31 October 2024 | 847,834 |  | 33,005 |  | 880,839 |  |

5. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 November 2024

| and 31 October 2025 | 5,412 |  |

| NET BOOK VALUE

| At 31 October 2025 | 5,412 |  |

| At 31 October 2024 | 5,412 |  |

6. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 2,533,384 |  | 2,354,309 |  |

| Herd stock | 866,941 |  | 778,916 |  |

3,400,325 |  | 3,133,225 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 248,400 |  | - |  |

| Other debtors | 418,802 |  | 334,560 |  |

667,202 |  | 334,560 |  |

| MACFARLANE FARMS LIMITED (Registered number: SC180688) |

Notes to the Financial Statements - continued

for the Year Ended 31 October 2025

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 799,178 |  | 665,071 |  |

| Hire purchase contracts | 219,220 |  | 205,654 |  |

| Trade creditors | 357,684 |  | 56,758 |  |

| Amounts owed to group undertakings | 2,914,871 |  | 3,065,033 |  |

| Other creditors | 22,365 |  | 5,206 |  |

4,313,318 |  | 3,997,722 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 1,019,908 |  | 1,025,464 |  |

| Hire purchase contracts | 315,602 |  | 408,565 |  |

1,335,510 |  | 1,434,029 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr | 1,000,000 |  | 1,003,241 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank overdrafts | 793,622 |  | 659,515 |  |

| Bank loans | 1,025,464 |  | 1,031,020 |  |

1,819,086 |  | 1,690,535 |  |

| The company's bankers hold a bond and floating charge over the company's assets.

| The bank also hold an unlimited cross guarantee from the company relating to it's parent company Gartmore Farms Limited.

11. | PROVISIONS FOR LIABILITIES

2025 |  |

£ |  |

| Deferred tax

| Capital allowances | 83,211 |  |

| Capital tax losses | (7,227 | ) |

75,984 |  |

| MACFARLANE FARMS LIMITED (Registered number: SC180688) |

Notes to the Financial Statements - continued

for the Year Ended 31 October 2025

11. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1 November 2024 | (7,227 | ) |

| Accelerated capital allowances | 83,211 |  |

| Balance at 31 October 2025 | 75,984 |  |

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 2 | Ordinary shares | £1 | 2 |  | 2 |  |

13. | RESERVES

| Retained

| earnings

£ |

| At 1 November 2024 | 451,237 |  |

| Profit for the year | 212,963 |  |

| At 31 October 2025 | 664,200 |  |

14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The company paid management charges of £123,595 in the year under review to J & I MacFarlane, a partnership controlled by John MacFarlane.

| The amount due from J & I MacFarlane at the year end was in the amount of £344,461.

15. | RELATED PARTY DISCLOSURES

| The company paid grazing rents of £95,000 in the year under review to its parent company, Gartmore Farms Limited. The balance due to that company at the balance sheet date was £2,914,871.

16. | ULTIMATE CONTROLLING PARTY

| The company was under the control of the directors throughout the year under review. The directors are the equity shareholders of the parent company.