A. C. Brown (Farms) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC030970 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

A. C. Brown (Farms) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C A Brown

G A Brown

SECRETARY:

Mrs C A Brown

REGISTERED OFFICE:

5 Whitefriars Crescent

Perth

Perthshire

PH2 0PA

REGISTERED NUMBER:

SC030970 (Scotland)

ACCOUNTANTS:

Campbell Dallas Limited

Accountants

5 Whitefriars Crescent

Perth

Perthshire

PH2 0PA

SOLICITORS:

Paull & Williamsons

6 Union Row

Aberdeen

AB10 1DQ

FIXED ASSETS

Tangible assets

3

1,356,364

1,368,344

Investments

4

50

1,356,414

1,368,394

CURRENT ASSETS

Debtors

5

262,969

364,666

CREDITORS

Amounts falling due within one year

6

2,742

1,000

NET CURRENT ASSETS

260,227

363,666

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,616,641

1,732,060

CREDITORS

Amounts falling due after more than one
year

7

7,000

NET ASSETS

1,609,641

1,725,060

CAPITAL AND RESERVES

Called up share capital

20,002

Retained earnings

1,589,639

1,705,058

SHAREHOLDERS' FUNDS

1,609,641

1,725,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 15 March 2018 and were signed on its behalf
by:

G A Brown - Director

1.	STATUTORY INFORMATION

A. C. Brown (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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The company's business is farming through the participation in the farming partnership of Reidhall Farms.

Turnover comprises the company's share of the partnership profit and loss for each year. The book value of

its interest in the partnership comprises the balance standing to its debit/credit in the current account in the

accounts of that business.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Heritable property

-

at varying rates on cost

Land is not depreciated.

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.	TANGIBLE FIXED ASSETS

Heritable

property

£

COST

At 1 July 2016

and 30 June 2017

1,773,394

DEPRECIATION

At 1 July 2016

405,050

Charge for year

11,980

At 30 June 2017

417,030

NET BOOK VALUE

At 30 June 2017

1,356,364

At 30 June 2016

1,368,344

Included within land and buildings is land at a cost of £1,153,787 (2016 £1,153,787), which is not

depreciated.

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 July 2016

and 30 June 2017

50

NET BOOK VALUE

At 30 June 2017

50

At 30 June 2016

50

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Other debtors

262,969

364,666

The company is a partner in Reidhall Farms, a farming partnership. Included in other debtors there is a

balance of £262,821 (2016 - £364,518) which represents the company's interest in the partnership.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Taxation and social security

1,742

-

Other creditors

1,000

2,742

1,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2017

2016

£

Other creditors

7,000

8.	RELATED PARTY DISCLOSURES

Mrs C A Brown and Mr G A Brown are partners in the farming parnership of Reidhall Farms. At the year
end the partnership was due the company a balance of £262,821 (2016 - £364,518) which represents the company's interest in the partnership.

9.	CONTROLLING PARTY

The trustees of the late A C Brown discretionary trust are the ultimate controlling party of A C Brown
(Farms) Limited.

10.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under FRS 102. There were no

adjustments on transition to FRS 102.