ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

FEURACH HOLDINGS LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-01-01 SC443356 2017-01-01 2017-12-31 SC443356 2016-01-01 2016-12-31 SC443356 2017-12-31 SC443356 2016-12-31 SC443356 c:Director1 2017-01-01 2017-12-31 SC443356 c:Director2 2017-01-01 2017-12-31 SC443356 c:RegisteredOffice 2017-01-01 2017-12-31 SC443356 c:Agent1 2017-01-01 2017-12-31 SC443356 d:FinancialAssetsHeldForTrading d:Non-currentFinancialInstruments 2017-12-31 SC443356 d:FinancialAssetsHeldForTrading d:Non-currentFinancialInstruments 2016-12-31 SC443356 d:CurrentFinancialInstruments 2017-12-31 SC443356 d:CurrentFinancialInstruments 2016-12-31 SC443356 d:Non-currentFinancialInstruments 2016-12-31 SC443356 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 SC443356 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 SC443356 d:Non-currentFinancialInstruments d:AfterOneYear 2016-12-31 SC443356 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2016-12-31 SC443356 d:ShareCapital 2017-12-31 SC443356 d:ShareCapital 2016-12-31 SC443356 d:SharePremium 2017-12-31 SC443356 d:SharePremium 2016-12-31 SC443356 d:RetainedEarningsAccumulatedLosses 2017-12-31 SC443356 d:RetainedEarningsAccumulatedLosses 2016-12-31 SC443356 c:FRS102 2017-01-01 2017-12-31 SC443356 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 SC443356 c:FullAccounts 2017-01-01 2017-12-31 SC443356 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 SC443356 d:Subsidiary1 2017-01-01 2017-12-31 SC443356 d:Subsidiary1 1 2017-01-01 2017-12-31 SC443356 d:Subsidiary2 2017-01-01 2017-12-31 SC443356 d:Subsidiary2 1 2017-01-01 2017-12-31 iso4217:GBP xbrli:pure

	FEURACH HOLDINGS LIMITED
	Company registration number SC443356
	FILING FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2017


FEURACH HOLDINGS LIMITED

CONTENTS

	Page
Company Information	1
Balance Sheet	2 - 3
Notes to the Financial Statements	4 - 9


FEURACH HOLDINGS LIMITED

COMPANY INFORMATION

Directors	Mr Mark Sinclair
	Mr John Watson


Registered number	SC443356


Registered office	The Capital Building
	12/13 St Andrew Square
	Edinburgh
	EH2 2AF


Accountants	Scott-Moncrieff
	Exchange Place 3
	Semple Street
	Edinburgh
	EH3 8BL


Solicitors	Wright Johnston Mackenzie LLP
	The Capital Building
	12/13 St Andrew Square
	Edinburgh
	EH2 2AF


FEURACH HOLDINGS LIMITED REGISTERED NUMBER:SC443356

BALANCE SHEET

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£

Fixed assets
Investments	5		2,850,000		2,850,000
			2,850,000		2,850,000
Current assets
Cash at bank and in hand		1,625		1,271
		1,625		1,271
Creditors: amounts falling due within one year	6	(135,816)		(166,023)
Net current liabilities			(134,191)		(164,752)
Total assets less current liabilities			2,715,809		2,685,248
Creditors: amounts falling due after more than one year	7		-		(230,000)

Net assets			2,715,809		2,455,248

Capital and reserves
Called up share capital	2,000	2,000
Share premium account	1,998,000	1,998,000
Profit and loss account	715,809	455,248
	2,715,809	2,455,248

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of Section 1A 'Small Entities' of Financial Reporting Standard 102.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

As permitted by Section 444 of the Companies Act 2006, the directors have not delivered to the Registrar a copy of the company’s Statement of Income and Retained Earnings for the year ended 31 December 2017.


FEURACH HOLDINGS LIMITED REGISTERED NUMBER:SC443356

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2017

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Mr Mark Sinclair

Director

Date: 22 June 2018

The notes on pages 4 to 9 form part of these financial statements.


FEURACH HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.	General information

These financial statements are presented in Pounds Sterling (GBP), as that is the currency in which the company's transactions are denominated. They comprise the financial statements of the company drawn up for the year ended 31 December 2017.
The continuing activity of Feurach Holdings Limited is that of a holding company.
Feurach Holdings Limited is a private company limited by shares, incorporated in the United Kingdom and registered in Scotland. Details of the registered office can be found on the company information page of these financial statements. The company registration number is SC443356.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The company is the parent undertaking of a small group and a such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

2.2

Going concern

The directors have assessed a period of 12 months from the date of approval of the financial statements and are satisfied that no material uncertainties that cast significant doubt about the ability of the company to continue as a going concern. The directors have adopted the going concern basis of accounting in preparing the financial statements.

2.3

Valuation of investments

Investments held as fixed assets are stated at cost less provision for ay diminution in value.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


FEURACH HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Employees

The average monthly number of employees, including directors, during the year was 2 (2016 - 2).


FEURACH HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

4.	Taxation

	Factors affecting tax charge for the year
	There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 20% (2016 - 20%). There is no charge for corporation tax in either the current or prior year.

Factors that may affect future tax charges

Tax losses of £14,793 have been group relieved to John Watson Seeds Limited, a subsidiary. There are no tax losses to carry forward.

5.	Fixed asset investments

		Listed investments
		£

	At 1 January 2017	2,850,000


	At 31 December 2017	2,850,000
	At 31 December 2016	2,850,000


FEURACH HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

5.Fixed asset investments (continued)


The company's investment, at the balance sheet date, in the share capital of companies include the following:
Name	Class of shares	Holding	Principal activity

	Seed Logistics Limited	Ordinary	100%	Support activities for crop production.
	John Watson Seeds Limited	Ordinary	100%	Distribution of cereals and seeds to the farming community.

The aggregate of the share capital and reserves as at 31 December 2017 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
	Aggregate of share capital and reserves	Profit/(loss)
	£	£

Seeds Logistics Limited	477,402	116,824
John Watson Seeds Limited	533,305	337,252
	1,010,707	454,076

6.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Bank loans	80,000	160,000
Amounts owed to group undertakings	3,000	-
Other creditors	50,000	-
Accruals and deferred income	2,816	6,023
	135,816	166,023

The bank loan has a floating charge secured on all of the property, undertaking, assets (including uncalled capital) and rights owned now and in the future by the company.
The bank loan also has a fixed charge secured on the life assurance policies of both directors on all rights to the policies and all monies payable under the policies.


FEURACH HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

7.	Creditors: Amounts falling due after more than one year
		2017	2016
		£	£

Bank loans	-	80,000
Other creditors	-	150,000
	-	230,000

Secured loans

Amounts falling due within one year
Bank loans	80,000	160,000
	80,000	160,000

Amounts falling due 2-5 years
Bank loans	-	80,000
	-	80,000

Total loans	80,000	240,000

Related party transactions

During the year the company paid a dividend of £75,000 (2016: £30,000) to KYF Holdings Limited, a company in which John Watson is a director and £25,000 (2016: £10,000) to Fearcuir Limited, a company in which Mark Sinclair is a director. During the year the company received dividends of £278,975 (2016: £285,000) from John Watson Seeds Limited and £100,000 (2016: £nil) from Seed Logistics Limited.


FEURACH HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

10.	Controlling party

There is no overall controlling party.