Company No: SC446038 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	2,459,512		2,386,118
		2,459,512		2,386,118
Current assets
Stocks	4	358,810		471,705
Debtors	5	310,982		206,540
Cash at bank and in hand		94,017		117,649
		763,809		795,894
Creditors: amounts falling due within one year	6	( 539,148)		( 535,711)
Net current assets		224,661		260,183
Total assets less current liabilities		2,684,173		2,646,301
Creditors: amounts falling due after more than one year	7	( 546,270)		( 647,814)
Provision for liabilities	8, 9	( 270,334)		( 251,515)
Net assets		1,867,569		1,746,972
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		1,867,469		1,746,872
Total shareholders' funds		1,867,569		1,746,972

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Messrs J & M Anderson Limited (registered number: SC446038) were approved and authorised for issue by the Board of Directors on 20 August 2026. They were signed on its behalf by:

James Thomas Anderson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Messrs J & M Anderson Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Newton Of Guthrie, Forfar, DD8 2TQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for the supply of livestock and grain net of VAT and trade discounts.

Turnover is recognised on an accruals basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

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

Land and buildings	10 % reducing balance
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Other property, plant and equipment	15 % reducing balance

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.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

The company trades cattle and grows crops to sell the agricultural produce harvested from such plants. In accordance with FRS 102, such cattle and crops are defined as biological assets, The company measures biological assets at cost with cattle and crops included within stock. The biological assets are measured at the lower cost and estimated selling price less costs to complete and sell.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the 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. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Other property, plant and equipment		Total
	£		£		£		£		£
Cost
At 01 April 2025	1,427,618		1,306,567		34,388		627,015		3,395,588
Additions	99,226		163,970		0		0		263,196
Disposals	0		( 96,250)		0		0		( 96,250)
At 31 March 2026	1,526,844		1,374,287		34,388		627,015		3,562,534
Accumulated depreciation
At 01 April 2025	48,072		785,839		1,433		174,126		1,009,470
Charge for the financial year	11,051		83,504		8,239		67,934		170,728
Disposals	0		( 77,176)		0		0		( 77,176)
At 31 March 2026	59,123		792,167		9,672		242,060		1,103,022
Net book value
At 31 March 2026	1,467,721		582,120		24,716		384,955		2,459,512
At 31 March 2025	1,379,546		520,728		32,955		452,889		2,386,118

4. Stocks

	2026		2025
	£		£
Livestock	358,810		471,705

5. Debtors

	2026		2025
	£		£
Trade debtors	231,564		180,022
Other debtors	79,418		26,518
	310,982		206,540

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	85,262		47,964
Taxation and social security	18,532		48,048
Obligations under finance leases and hire purchase contracts	95,649		88,956
Other creditors	339,705		350,743
	539,148		535,711

Obligations under hire purchase contracts amounting to £95,649 (2025 - £88,956) are secured over the related assets.

7. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	487,778		566,206
Obligations under finance leases and hire purchase contracts	58,492		81,608
	546,270		647,814

Bank borrowings are secured over land at East Mains of Guthrie.
Obligations under hire purchase contracts amounting to £58,492 (2025 - 81,608) are secured over the related assets.

8. Provision for liabilities

	2026		2025
	£		£
Deferred tax	270,334		251,515

9. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 251,515)		( 211,673)
Charged to the Profit and Loss Account	( 18,819)		( 39,842)
At the end of financial year	( 270,334)		( 251,515)

10. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

11. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Amounts Owed by Directors	0		988
Amounts Owed to Directors	123,119		41,490