Denis Cadzow and Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC033996 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 October 2025

for

Denis Cadzow and Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J M Cadzow

T S Young

I Young

SECRETARY:

A H & Co Ltd

REGISTERED OFFICE:

The Farm House

Duncrahill Pencaitland

Tranent

East Lothian

EH34 5ER

REGISTERED NUMBER:

SC033996 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

BANKERS:

Weatherbys Bank Ltd

Sanders Road

Wellingborough

Northamptonshire

NN8 4BX

FIXED ASSETS

Tangible assets

4

9,685,052

9,683,259

Investments

5

262,720

261,820

9,947,772

9,945,079

CURRENT ASSETS

Stocks

340,718

274,651

Debtors

6

38,446

144,643

Cash at bank

186

379,350

419,480

CREDITORS

Amounts falling due within one year

7

728,363

547,418

NET CURRENT LIABILITIES

(349,013

)

(127,938

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,598,759

9,817,141

CREDITORS

Amounts falling due after more than one year

8

(692,623

)

(720,359

)

PROVISIONS FOR LIABILITIES

10

(895,552

)

(899,609

)

NET ASSETS

8,010,584

8,197,173

CAPITAL AND RESERVES

Called up share capital

11

42,000

Revaluation reserve

8,015,090

8,068,553

Fair value transfer

713,126

567,616

Retained earnings

(759,632

)

(480,996

)

SHAREHOLDERS' FUNDS

8,010,584

8,197,173

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.

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 has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2026 and were signed on its behalf by:

I Young - Director

1.	STATUTORY INFORMATION

Denis Cadzow and Company 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 as modified by the revaluation of certain assets.

The accounts have been prepared on a going concern basis, the acceptability of which is dependant on the continuing support of the company's directors and bankers.

Turnover

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

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Freehold property

-

0% on cost

Long leasehold

-

4% on cost

Improvements to property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

- 33% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Crops are valued at cost of growing and fertilising. Horses are valued at the lower of cost and net realisable value or director valuation.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

Investments

Unquoted investments are valued at fair value. Provision is made for any permanent diminution in value.

Within investments there is livestock which has been measured at fair value. Fair value has been calculated based on the evidence available from an active market, taking into account the expected selling price less estimated costs to sell.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Long

to

Plant and

property

leasehold

property

machinery

£

COST OR VALUATION

At 1 November 2024

7,819,801

1,756,789

15,084

658,013

Additions

-

13,690

48,869

Disposals

-

(72,109

)

At 31 October 2025

7,819,801

1,756,789

28,774

634,773

DEPRECIATION

At 1 November 2024

-

23,288

1,199

541,941

Charge for year

-

11,644

847

48,711

Eliminated on disposal

-

(39,356

)

At 31 October 2025

-

34,932

2,046

551,296

NET BOOK VALUE

At 31 October 2025

7,819,801

1,721,857

26,728

83,477

At 31 October 2024

7,819,801

1,733,501

13,885

116,072

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST OR VALUATION

At 1 November 2024

19,536

62,800

5,942

10,337,965

Additions

-

44,252

-

106,811

Disposals

-

(72,109

)

At 31 October 2025

19,536

107,052

5,942

10,372,667

DEPRECIATION

At 1 November 2024

19,536

62,800

5,942

654,706

Charge for year

-

11,063

-

72,265

Eliminated on disposal

-

(39,356

)

At 31 October 2025

19,536

73,863

5,942

687,615

NET BOOK VALUE

At 31 October 2025

-

33,189

-

9,685,052

At 31 October 2024

-

9,683,259

Included in cost or valuation of land and buildings is freehold land of £ 7,818,577 (2024 - £ 7,831,967 ) which is not depreciated.

Cost or valuation at 31 October 2025 is represented by:

Improvements

Freehold

Long

to

Plant and

property

leasehold

property

machinery

£

Valuation in 1987

1,537,028

327,376

-

Valuation in 2002

80,000

419,244

-

Valuation in 2008

1,566,768

770,285

-

Valuation in 2013

2,406,540

35,697

-

Valuation in 2022

2,188,597

196,444

-

Cost

40,868

7,743

28,774

634,773

7,819,801

1,756,789

28,774

634,773

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

Valuation in 1987

-

1,864,404

Valuation in 2002

-

499,244

Valuation in 2008

-

2,337,053

Valuation in 2013

-

2,442,237

Valuation in 2022

-

2,385,041

Cost

19,536

107,052

5,942

844,688

19,536

107,052

5,942

10,372,667

If land and buildings had not been revalued they would have been included at the following historical cost:

31.10.25

31.10.24

£

Cost

185,431

Aggregate depreciation

55,436

Value of land in freehold land and buildings

51,422

Land and buildings were valued on an open market basis on 31 October 2022 by Davidson & Robertson, Chartered Surveyor .

On transition to FRS 102 the company took advantage of the transitional relief to use a previous valuation as deemed cost.

5.	FIXED ASSET INVESTMENTS

Investments were as follows:

31.10.25

31.10.24

£

Unlisted Investments

220

Herd

262,500

261,600

262,720

261,820

Reconciliation of the carrying amounts of biological assets:

Bulls

Cows

Heifers

Gimmer
s

Rams

Ewes

Total

£

Balance at 1st November 2024

20,800

175,100

54,000

1,200

2,450

8,050

261,600

Purchases

20,800

103,700

43,500

-

168,000

Sales

(10,400)

(83,300)

(213,000)

-

(306,700)

Transferred

(5,200)

(3,200)

147,000

3,300

(700)

(1,400)

139,800

Change in fair value less selling
cost

-

Balance at 31st October 2025

26,000

192,100

31,500

4,500

1,750

6,650

262,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

Trade debtors

-

108,922

Other debtors

38,446

35,721

38,446

144,643

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

Bank loans and overdrafts

566,994

475,710

Hire purchase contracts

36,420

26,127

Trade creditors

105,819

31,197

Taxation and social security

4,294

3,088

Other creditors

14,836

11,296

728,363

547,418

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.10.24

£

Bank loans

655,503

671,060

Hire purchase contracts

34,033

45,594

Other creditors

3,087

3,705

692,623

720,359

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.25

31.10.24

£

Bank overdrafts

566,994

475,710

Bank loans

655,503

671,060

1,222,497

1,146,770

The bank overdraft and loan are secured by a first ranked standard security over Duncrahill Farm which is owned by the company and a bond and floating charge over all assets and undertakings of the company.

10.	PROVISIONS FOR LIABILITIES

31.10.25

31.10.24

£

Deferred tax

Accelerated capital allowances

10,449

12,097

Other timing differences

885,103

887,512

895,552

899,609

Deferred

tax

£

Balance at 1 November 2024

899,609

Provided during year

(4,057

)

Balance at 31 October 2025

895,552

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.25

31.10.24

value:

£

21,840

A Ordinary

£1

21,840

10,080

B Ordinary

£1

10,080

C Ordinary

£1

10,080

42,000

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 October 2025 the company owed the directors £7,908 (2024: £7,908).

13.	RELATED PARTY DISCLOSURES

There were no related party transactions during the year (2024: none).

14.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.