Kellybronze Scotland Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.
 

The address of its registered office is: Springate Farm, Bicknacre Road, Danbury, Essex, CM3 4EP.

The principal place of business is: Magbiehill Farm, Dunlop Road, Stewarton, Kilmarnock, KA3 3ES.

These financial statements were authorised for issue by the Board on 29 September 2026.

2	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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of turkeys, turkey breeding stock and turkey eggs to customers. Turnover is shown net of sales value added tax, returns, rebates and discounts.

Tax

Current Tax is recognised in the profit and loss account, 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.

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 income tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Kellybronze Scotland Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	not provided
Plant and machinery	10% and 20% reducing balance basis

No depreciation is provided in respect of Land and buildings and is revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the Company's freehold property may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, the Directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for goods and services sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Share capital

Ordinary shares are classified as equity.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 9).

Kellybronze Scotland Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

4	Tangible assets

	Land and buildings £	Plant and machinery £	Total £
Cost or valuation
At 1 November 2024	250,000	241,300	491,300
Devaluations	(10,000)	-	(10,000)
Disposals	-	(174,355)	(174,355)
At 31 October 2025	240,000	66,945	306,945
Depreciation
At 1 November 2024	-	222,577	222,577
Charge for the year	-	3,371	3,371
Eliminated on disposal	-	(162,293)	(162,293)
At 31 October 2025	-	63,655	63,655
Carrying amount
At 31 October 2025	240,000	3,290	243,290
At 31 October 2024	250,000	18,723	268,723

Included within the net book value of land and buildings above is £240,000 (2024 - £250,000) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's land and buildings was revalued on 28 May 2026 by an independent valuer.
The valuation was completed on an open market basis. The name and qualification of the independent valuer are Savills plc and MRICS.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £163,559 (2024 - £163,559).

5

Stocks

	2025 £	2024 £
Stocks	23,267	12,541

Kellybronze Scotland Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

6

Debtors

	2025 £	2024 £
Other debtors	141,246	237,893
Prepayments	744	-
	141,990	237,893

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	15,667	20,575
Amounts owed to group undertakings	20,000	20,000
Other creditors	167	20,090
Taxation and social security	1,324	2,082
Accruals and deferred income	11,362	11,560
	48,520	74,307

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Amounts owed to group undertakings	157,545	280,036

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	62,529	62,529	62,529	62,529