Registration number:
Humbie Farm Limited
for the year ended 30 November 2025
Humbie Farm Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Humbie Farm Limited
Company Information
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Director |
A Stewart-Clark |
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Registered office |
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Auditors |
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Humbie Farm Limited
(Registration number: SC615037)
Statement of Financial Position
30 November 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Capital contribution reserve |
1,780,810 |
- |
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Revaluation reserve |
58,500 |
58,500 |
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Retained earnings |
227,000 |
230,435 |
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Shareholders' funds |
2,066,311 |
288,936 |
Approved and authorised by the
Humbie Farm Limited
(Registration number: SC615037)
Statement of Financial Position
30 November 2025
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Humbie Farm Limited
Notes to the Financial Statements
for the year ended 30 November 2025
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General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis as the director believes that no material uncertainties exist. The director has considered the level of reserves held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the company to be able to continue as a going concern.
Humbie Farm Limited
Notes to the Financial Statements
for the year ended 30 November 2025
Audit Report
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Judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Critical accounting estimates and assumptions:
Management is required to make key decisions and judgements in the process of applying the Company's accounting policies. The most significant areas where such judgements have been necessary is the valuation of investment properties. Where judgement has been applied, the key factors taken into consideration are disclosed in the accounting policies and the appropriate note in these financial statements.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Humbie Farm Limited
Notes to the Financial Statements
for the year ended 30 November 2025
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold land |
not depreciated |
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Plant and machinery |
Over 4 years |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and deposits.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Humbie Farm Limited
Notes to the Financial Statements
for the year ended 30 November 2025
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Humbie Farm Limited
Notes to the Financial Statements
for the year ended 30 November 2025
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Tangible assets |
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Freehold Land |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 December 2024 |
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At 30 November 2025 |
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Depreciation |
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At 1 December 2024 |
- |
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Charge for the year |
- |
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At 30 November 2025 |
- |
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Carrying amount |
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At 30 November 2025 |
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At 30 November 2024 |
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Investment properties |
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2025 |
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At 1 December |
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At 30 November |
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Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The investment property has been measured at fair value, by the director, which is the open market value of the property. When arising, the fair value adjustment is taken through the profit and loss account.
As such, the property has been revalued to £1,971,327. The value brought forward consists of a historical cost of £1,893,327 plus a fair value adjustment from 30 November 2024 of £78,000.
Humbie Farm Limited
Notes to the Financial Statements
for the year ended 30 November 2025
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Other debtors |
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Humbie Farm Limited
Notes to the Financial Statements
for the year ended 30 November 2025
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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- |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2025 |
2024 |
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Due after one year |
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Other financial liabilities |
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Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
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Capital contribution reserve |
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Other comprehensive income |
1,780,810 |
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The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
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Revaluation reserve |
Retained earnings |
Total |
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Surplus/deficit on property, plant and equipment revaluation |
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- |
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Other comprehensive income |
- |
(58,500) |
(58,500) |
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( |
- |
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Humbie Farm Limited
Notes to the Financial Statements
for the year ended 30 November 2025
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the statement of financial position
Humbie Farm is provided as security to bank loans with The Agricultural Mortgage Corporation PLC (AMC). These bank loans are in group company Challenge Fencing Ltd and the amounts due in less than 1 year is £60,628 (2024: £65,523) and the amount due in more than 1 year is £958,964 (2024: £1,014,697).
Humbie Farm Limited
Notes to the Financial Statements
for the year ended 30 November 2025
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Related party transactions |
Summary of transactions with other related parties
Loans from related parties
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2025 |
Group companies |
Total |
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At start of period |
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Advanced |
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Repaid |
( |
( |
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At end of period |
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2024 |
Group companies |
Total |
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At start of period |
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Advanced |
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Repaid |
( |
( |
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At end of period |
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Terms of loans from related parties
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Parent and ultimate parent undertaking |
The company's immediate parent is
The parent of the smallest (and largest) group in which these financial statements are consolidated is Providence Place Ltd, incorporated in England & Wales. The address of Providence Place Ltd is Sinclaire Cottage, Portsmouth Road, Ripley, Woking, Surrey, GU23 6EW.