Ugie Farms Limited - Accounts to registrar (filleted) - small 23.2.5

Ugie Farms Limited - Accounts to registrar (filleted) - small 23.2.5

UGIE FARMS LIMITED - Company Information

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IRIS Accounts Production v23.2.0.158 SC709075 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC7090752022-03-31SC7090752023-03-31SC7090752022-04-012023-03-31SC7090752021-09-08SC7090752021-09-092022-03-31SC7090752022-03-31SC709075ns16:Scotland2022-04-012023-03-31SC709075ns15:PoundSterling2022-04-012023-03-31SC709075ns11:Director12022-04-012023-03-31SC709075ns11:PrivateLimitedCompanyLtd2022-04-012023-03-31SC709075ns11:SmallEntities2022-04-012023-03-31SC709075ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-31SC709075ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC709075ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-31SC709075ns11:FullAccounts2022-04-012023-03-31SC709075ns11:Director22022-04-012023-03-31SC709075ns11:Director32022-04-012023-03-31SC709075ns11:Director42022-04-012023-03-31SC709075ns11:Director52022-04-012023-03-31SC709075ns11:RegisteredOffice2022-04-012023-03-31SC709075ns6:CurrentFinancialInstruments2023-03-31SC709075ns6:CurrentFinancialInstruments2022-03-31SC709075ns6:ShareCapital2023-03-31SC709075ns6:ShareCapital2022-03-31SC709075ns6:RetainedEarningsAccumulatedLosses2023-03-31SC709075ns6:RetainedEarningsAccumulatedLosses2022-03-31SC709075ns6:LandBuildings2022-03-31SC709075ns6:PlantMachinery2022-03-31SC709075ns6:LandBuildings2022-04-012023-03-31SC709075ns6:PlantMachinery2022-04-012023-03-31SC709075ns6:LandBuildings2023-03-31SC709075ns6:PlantMachinery2023-03-31SC709075ns6:LandBuildings2022-03-31SC709075ns6:PlantMachinery2022-03-31SC709075ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-31SC709075ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31
REGISTERED NUMBER: SC709075 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

UGIE FARMS LIMITED
UGIE FARMS LIMITED (REGISTERED NUMBER: SC709075)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


UGIE FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr J G S Strachan
Mrs S Strachan
Mrs M Patrick
Mr B Strachan
Mrs N Homewood



REGISTERED OFFICE: Broad House
Broad Street
Peterhead
Aberdeenshire
AB42 1HY



REGISTERED NUMBER: SC709075 (Scotland)



ACCOUNTANTS: Bain Henry Reid
28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY



BANKERS: Santander Business Banking
Bridle Road
Bootle
Liverpool
L30 4GB
Page 1
UGIE FARMS LIMITED (REGISTERED NUMBER: SC709075)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,475,899 2,476,124

CURRENT ASSETS
Debtors 5 9,992 9,683
Cash at bank 2,462,324 2,343,282
2,472,316 2,352,965
CREDITORS
Amounts falling due within one year 6 27,827 -
NET CURRENT ASSETS 2,444,489 2,352,965
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,920,388
4,829,089

CAPITAL AND RESERVES
Called up share capital 4,829,089 4,829,089
Retained earnings 91,299 -
4,920,388 4,829,089

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 17 August 2023 and were signed on its behalf by:





Mr J G S Strachan - Director


The notes form part of these financial statements

Page 2
UGIE FARMS LIMITED (REGISTERED NUMBER: SC709075)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Ugie Farms 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, other than agricultural land, over their estimated useful life or, if held under a finance lease, over the term of the lease, whichever is the shorter. The rates applicable are:

Agricultural buildings- 4% on cost
Motor vehicles- 20% on cost

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.

Going concern
At the time of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future, and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

Page 3
UGIE FARMS LIMITED (REGISTERED NUMBER: SC709075)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Agricultural
land and Plant and
buildings machinery Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 2,475,000 1,124 2,476,124
DEPRECIATION
Charge for year - 225 225
At 31 March 2023 - 225 225
NET BOOK VALUE
At 31 March 2023 2,475,000 899 2,475,899
At 31 March 2022 2,475,000 1,124 2,476,124

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by related parties 8,446 9,683
VAT 800 -
Prepayments and accrued income 746 -
9,992 9,683

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,806 -
Taxation 21,421 -
Accruals and deferred income 1,600 -
27,827 -

7. RELATED PARTY DISCLOSURES

Loans
Included in debtors is a loan to Ugie Investments Limited, a company in which Mr James G S Strachan has a material interest. The loan is interest free and has no fixed terms of repayment.
Details of loan account transactions and period end balance are as follows:

2023 2022
£ £

At 31st March 2022 9,683 -
Advanced during period 22,697 9,683
Repaid during period (23,934 ) -
At 31st March 2023 8,446 9,683


Page 4
UGIE FARMS LIMITED (REGISTERED NUMBER: SC709075)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. ULTIMATE CONTROLLING PARTY

Mr James G S Strachan, a director, controls the company by virtue of an interest of 86.1% of the issued ordinary share capital of Ugie Farms (Holdings) Limited, its parent company.

Page 5