Silverfin false false 31/12/2024 13/09/2023 31/12/2024 Mr S A H Fritsch 13/09/2023 Mr J A Gehrmann 13/09/2023 Mr T Neumann 13/09/2023 Mr M F Rilling 17/05/2024 13/09/2023 11 June 2025 The principle activity of the company during the financial period was the purchase of landed estates and undertaking peatland restoration works to sell voluntary carbon credits. SC782427 2024-12-31 SC782427 bus:Director1 2024-12-31 SC782427 bus:Director2 2024-12-31 SC782427 bus:Director3 2024-12-31 SC782427 bus:Director4 2024-12-31 SC782427 core:CurrentFinancialInstruments 2024-12-31 SC782427 core:Non-currentFinancialInstruments 2024-12-31 SC782427 core:ShareCapital 2024-12-31 SC782427 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC782427 core:LandBuildings 2023-09-12 SC782427 core:OtherPropertyPlantEquipment 2023-09-12 SC782427 2023-09-12 SC782427 core:LandBuildings 2024-12-31 SC782427 core:OtherPropertyPlantEquipment 2024-12-31 SC782427 bus:OrdinaryShareClass1 2024-12-31 SC782427 2023-09-13 2024-12-31 SC782427 bus:FilletedAccounts 2023-09-13 2024-12-31 SC782427 bus:SmallEntities 2023-09-13 2024-12-31 SC782427 bus:AuditExemptWithAccountantsReport 2023-09-13 2024-12-31 SC782427 bus:PrivateLimitedCompanyLtd 2023-09-13 2024-12-31 SC782427 bus:Director1 2023-09-13 2024-12-31 SC782427 bus:Director2 2023-09-13 2024-12-31 SC782427 bus:Director3 2023-09-13 2024-12-31 SC782427 bus:Director4 2023-09-13 2024-12-31 SC782427 core:LandBuildings 2023-09-13 2024-12-31 SC782427 core:OtherPropertyPlantEquipment 2023-09-13 2024-12-31 SC782427 bus:OrdinaryShareClass1 2023-09-13 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC782427 (Scotland)

CORRAN DEARG LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 13 SEPTEMBER 2023 TO 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

CORRAN DEARG LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 13 SEPTEMBER 2023 TO 31 DECEMBER 2024

Contents

CORRAN DEARG LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
CORRAN DEARG LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 31.12.2024
£
Fixed assets
Tangible assets 3 2,986,421
2,986,421
Current assets
Debtors 4 23,287
Cash at bank and in hand 5 239,218
262,505
Creditors: amounts falling due within one year 6 ( 17,426)
Net current assets 245,079
Total assets less current liabilities 3,231,500
Creditors: amounts falling due after more than one year 7 ( 3,505,961)
Net liabilities ( 274,461)
Capital and reserves
Called-up share capital 8 1
Profit and loss account ( 274,462 )
Total shareholder's deficit ( 274,461)

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Corran Dearg Limited (registered number: SC782427) were approved and authorised for issue by the Board of Directors on 11 June 2025. They were signed on its behalf by:

Mr S A H Fritsch
Director
CORRAN DEARG LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 13 SEPTEMBER 2023 TO 31 DECEMBER 2024
CORRAN DEARG LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 13 SEPTEMBER 2023 TO 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Corran Dearg Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Turcan Connell Princes Exchange, 1 Earl Grey Street, Edinburgh, EH3 9EE, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £274,461. The Company is supported through loans from group companies. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements cover the period from incorporation on 13 September 2023 to 31 December 2024.

There are no comparative figures due to this being the first accounting period.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation will be provided on all tangible fixed assets once the assets are in use at rates calculated to write off the cost of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. not depreciated

Assets in the course of construction are not depreciated until the asset is brought into use.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

Period from
13.09.2023 to
31.12.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 0

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 13 September 2023 0 0 0
Additions 2,676,814 309,607 2,986,421
At 31 December 2024 2,676,814 309,607 2,986,421
Accumulated depreciation
At 13 September 2023 0 0 0
At 31 December 2024 0 0 0
Net book value
At 31 December 2024 2,676,814 309,607 2,986,421

4. Debtors

31.12.2024
£
Amounts owed by Group undertakings (note 9) 21,311
Other debtors 1,976
23,287

5. Cash and cash equivalents

31.12.2024
£
Cash at bank and in hand 239,218

6. Creditors: amounts falling due within one year

31.12.2024
£
Trade creditors 12,000
Other creditors 5,426
17,426

7. Creditors: amounts falling due after more than one year

31.12.2024
£
Amounts owed to Group undertakings (note 9) 3,264,082
Other creditors 241,879
3,505,961

8. Called-up share capital

31.12.2024
£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1

9. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.