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REGISTERED NUMBER: SC162535 (Scotland)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

BALNAFETTACH (ESTATES) LIMITED

BALNAFETTACH (ESTATES) LIMITED (REGISTERED NUMBER: SC162535)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BALNAFETTACH (ESTATES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2018







DIRECTORS: Mr W M Cassells
Mrs S O V Cassells





SECRETARY: Mr W M Cassells





REGISTERED OFFICE: Balnafettach
Cromdale
Moray
PH26 3LW





REGISTERED NUMBER: SC162535 (Scotland)





ACCOUNTANTS: MacKenzie Kerr Limited
65 High Street
Grantown on Spey
Moray
PH26 3EG

BALNAFETTACH (ESTATES) LIMITED (REGISTERED NUMBER: SC162535)

BALANCE SHEET
31 DECEMBER 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 287,576 296,484

CURRENT ASSETS
Stocks 1,362 4,868
Debtors 4 441 2,184
Cash at bank and in hand 9,988 12,652
11,791 19,704
CREDITORS
Amounts falling due within one year 5 1,583 220,247
NET CURRENT ASSETS/(LIABILITIES) 10,208 (200,543 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

297,784

95,941

CREDITORS
Amounts falling due after more than one
year

6

(5,714

)

-

PROVISIONS FOR LIABILITIES 7 (67,945 ) (103,314 )
NET ASSETS/(LIABILITIES) 224,125 (7,373 )

CAPITAL AND RESERVES
Alloted, called up and fully paid share
capital

95

95
Profit and loss account - distributable 224,030 (7,468 )
SHAREHOLDERS' FUNDS 224,125 (7,373 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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.

BALNAFETTACH (ESTATES) LIMITED (REGISTERED NUMBER: SC162535)

BALANCE SHEET - continued
31 DECEMBER 2018


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 7 June 2019 and were signed on its behalf by:




Mr W M Cassells - Director



Mrs S O V Cassells - Director


BALNAFETTACH (ESTATES) LIMITED (REGISTERED NUMBER: SC162535)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018


1. STATUTORY INFORMATION

Balnafettach (Estates) 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 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover
Turnover represents revenue earned, excluding value added tax, from Highland Cattle farming,
shooting and fishing.

Revenue is recognized as earned when, the significant risks and rewards of ownership have passed to the buyer
and the amount of revenue can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Heritable property - at varying rates on cost
Plant and machinery - 25% on reducing balance

Tangible fixed assets are stated at cost,being purchase price, less accumulated depreciation.

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

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax
rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with certain
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated
in the financial statements that arise from the inclusion of income and expense in tax assessments in periods
different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the
balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued,
non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that
apply to the sale of the asset.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

BALNAFETTACH (ESTATES) LIMITED (REGISTERED NUMBER: SC162535)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2018


3. TANGIBLE FIXED ASSETS
Heritable Plant and
property machinery Tractors Totals
£    £    £    £   
COST
At 1 January 2018 360,247 235,031 55,299 650,577
Additions - 4,592 - 4,592
At 31 December 2018 360,247 239,623 55,299 655,169
DEPRECIATION
At 1 January 2018 87,395 217,055 49,643 354,093
Charge for year 6,493 5,594 1,413 13,500
At 31 December 2018 93,888 222,649 51,056 367,593
NET BOOK VALUE
At 31 December 2018 266,359 16,974 4,243 287,576
At 31 December 2017 272,852 17,976 5,656 296,484

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 441 2,184

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other creditors 1,583 220,247

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Other creditors 5,714 -

7. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax
Deferred capital gain 67,945 103,314

Deferred
tax
£   
Balance at 1 January 2018 103,314
Credit to profit & loss (35,369 )
Balance at 31 December 2018 67,945

BALNAFETTACH (ESTATES) LIMITED (REGISTERED NUMBER: SC162535)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2018


7. PROVISIONS FOR LIABILITIES - continued

The credit to the profit and loss account during the year occurred as a result of a change in tax rate.