Terraughtie Farming Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC041723 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

TERRAUGHTIE FARMING COMPANY LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

889,874

914,789

CURRENT ASSETS

Stocks

197,212

207,615

Debtors

5

160,188

100,401

Cash at bank and in hand

54,224

63,751

411,624

371,767

CREDITORS

Amounts falling due within one year

6

261,399

253,143

NET CURRENT ASSETS

150,225

118,624

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,040,099

1,033,413

CREDITORS

Amounts falling due after more than one
year

7

(48,402

)

(30,344

)

PROVISIONS FOR LIABILITIES

(156,198

)

(162,154

)

NET ASSETS

835,499

840,915

CAPITAL AND RESERVES

Called up share capital

40,000

Other reserves

15,172

Retained earnings

780,327

785,743

835,499

840,915

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2026 and were signed on its behalf by:

R J Barbour - Director

1.	STATUTORY INFORMATION

Terraughtie Farming Company Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number:

SC041723

Registered office:

24-36 Buccleuch Street

Dumfries

Scotland

DG1 2AL

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.

Freehold property

-

nil

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

COST

At 1 April 2025

271,275

1,779,172

69,992

2,242

2,122,681

Additions

-

36,276

69,900

-

106,176

Disposals

-

(27,500

)

-

(27,500

)

At 31 March 2026

271,275

1,815,448

112,392

2,242

2,201,357

DEPRECIATION

At 1 April 2025

-

1,169,993

35,657

2,242

1,207,892

Charge for year

-

110,574

5,305

-

115,879

Eliminated on disposal

-

(12,288

)

-

(12,288

)

At 31 March 2026

-

1,280,567

28,674

2,242

1,311,483

NET BOOK VALUE

At 31 March 2026

271,275

534,881

83,718

-

889,874

At 31 March 2025

271,275

609,179

34,335

-

914,789

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Trade debtors

139,589

79,828

Other debtors

20,599

20,573

160,188

100,401

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Hire purchase contracts

42,708

64,441

Trade creditors

102,901

55,537

Taxation and social security

5,008

16,633

Other creditors

110,782

116,532

261,399

253,143

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.26

31.3.25

£

Hire purchase contracts

48,402

30,344

8.	RELATED PARTY DISCLOSURES

Hindon Farms Limited

The company charged Hindon Farms Limited £30,000 for management fees. The company recharged Hindon Farms Limited £9,404 for various costs/income paid/received on their behalf.

Scenic Farms Limited

At the year end the company had trade creditors owed to Scenic Farms Limited of £26,186 (2025: £5,724).

The company made sales of contracting services to Scenic Farms Limited totalling £41,392. The company purchased £26,975 of hay, straw and alfalfa from Scenic Farms Limited. The company recharged Scenic Farms Limited £7,283 for various costs/income paid/received on their behalf.

Barbour Energy Limited

At the year end the company had trade creditors owed to Barbour Energy Limited of £909 (2025: £834).

The company purchased energy from Barbour Energy Limited costing £11,062 in the year.

Scenic Land Developments Limited

The company recharged Scenic Land Developments Limited £78 in the year for software costs paid on its behalf.

All of the transactions between the above companies were conducted under normal market conditions.