Silverfin false false 31/01/2025 01/02/2024 31/01/2025 C Aitken 29/10/2015 R Aitken 06/09/2007 29 August 2025 The principal activity of the company during the financial year was the management and development of Port Edgar Marina. SC328060 2025-01-31 SC328060 bus:Director1 2025-01-31 SC328060 bus:Director2 2025-01-31 SC328060 2024-01-31 SC328060 core:CurrentFinancialInstruments 2025-01-31 SC328060 core:CurrentFinancialInstruments 2024-01-31 SC328060 core:Non-currentFinancialInstruments 2025-01-31 SC328060 core:Non-currentFinancialInstruments 2024-01-31 SC328060 core:ShareCapital 2025-01-31 SC328060 core:ShareCapital 2024-01-31 SC328060 core:RevaluationReserve 2025-01-31 SC328060 core:RevaluationReserve 2024-01-31 SC328060 core:RetainedEarningsAccumulatedLosses 2025-01-31 SC328060 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC328060 core:LandBuildings 2024-01-31 SC328060 core:LandBuildings 2025-01-31 SC328060 core:CostValuation 2024-01-31 SC328060 core:CostValuation 2025-01-31 SC328060 core:CurrentFinancialInstruments 1 2025-01-31 SC328060 core:CurrentFinancialInstruments 1 2024-01-31 SC328060 bus:OrdinaryShareClass1 2025-01-31 SC328060 2024-02-01 2025-01-31 SC328060 bus:FilletedAccounts 2024-02-01 2025-01-31 SC328060 bus:SmallEntities 2024-02-01 2025-01-31 SC328060 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 SC328060 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 SC328060 bus:Director1 2024-02-01 2025-01-31 SC328060 bus:Director2 2024-02-01 2025-01-31 SC328060 core:LandBuildings core:TopRangeValue 2024-02-01 2025-01-31 SC328060 2023-02-01 2024-01-31 SC328060 core:LandBuildings 2024-02-01 2025-01-31 SC328060 core:CurrentFinancialInstruments 2024-02-01 2025-01-31 SC328060 core:Non-currentFinancialInstruments 2024-02-01 2025-01-31 SC328060 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 SC328060 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC328060 (Scotland)

# PORT EDGAR HOLDINGS LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH THE REGISTRAR

PORT EDGAR HOLDINGS LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025

Contents

PORT EDGAR HOLDINGS LIMITED

## BALANCE SHEET

AS AT 31 JANUARY 2025
PORT EDGAR HOLDINGS LIMITED

## BALANCE SHEET (continued)

AS AT 31 JANUARY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 2,876,165 |  | 2,937,268
Investments | 4 | 375,001 |  | 375,001
|  | 3,251,166 |  | 3,312,269
Current assets |  |  |  |
Debtors | 5 | 143,956 |  | 13,573
Cash at bank and in hand |  | 46,317 |  | 36,776
|  | 190,273 |  | 50,349
Creditors: amounts falling due within one year | 6 | ( 1,982,908) |  | ( 1,643,978)
Net current liabilities |  | (1,792,635) |  | (1,593,629)
Total assets less current liabilities |  | 1,458,531 |  | 1,718,640
Creditors: amounts falling due after more than one year | 7 | 0 |  | ( 341,839)
Provision for liabilities |  | ( 248,912) |  | ( 365,245)
Net assets |  | 1,209,619 |  | 1,011,556
Capital and reserves |  |  |  |
Called-up share capital | 8 | 3 |  | 3
Revaluation reserve |  | 1,116,885 |  | 985,951
Profit and loss account |  | 92,731 |  | 25,602
Total shareholders' funds |  | 1,209,619 |  | 1,011,556

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Port Edgar Holdings Limited (registered number: SC328060) were approved and authorised for issue by the Board of Directors on 29 August 2025. They were signed on its behalf by:

C Aitken Director |

PORT EDGAR HOLDINGS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025
PORT EDGAR HOLDINGS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025

##### 1. Accounting policies

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

##### General information and basis of accounting

Port Edgar Holdings 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 Port Edgar Marina, Port Edgar, South Queensferry, EH30 9SQ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 current liabilities of £1,792,635. The Company is supported through loans from the directors and 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.

##### Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rentals provided in the normal course of business, and is shown net of VAT and other sales related taxes.

##### Taxation

Current tax
The tax expense represents the sum of the currently payable and deferred tax.
The tax currently payable is based on the taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income and expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting period end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax nor the accounting profit.
The carrying amount of deferred tax assets are reviewed at each reporting date.

##### Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Long leasehold properties are subsequently measured at their revalued amount, being the fair value at the date of revaluation less any accumulated depreciation and impairment losses. Depreciation is provided on all tangible fixed assets, other than long leasehold property, so as to write off the cost of valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings | 30.03 years straight line

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.

##### Leases

The Company as lessee
Rentals payable under operating leases, including any lease, incentives received, are charged to the profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases are consumed.
The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. At the end of each reporting period, investments are assessed for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in the profit and loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank and in hand.

##### 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 cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including unpaid directors | 2 |  | 2

#### 3. Tangible assets

| Land and buildings |  | Total
| £ |  | £
Cost |  |  |
At 01 February 2024 | 3,284,959 |  | 3,284,959
At 31 January 2025 | 3,284,959 |  | 3,284,959
Accumulated depreciation |  |  |
At 01 February 2024 | 347,691 |  | 347,691
Charge for the financial year | 61,103 |  | 61,103
At 31 January 2025 | 408,794 |  | 408,794
Net book value |  |  |
At 31 January 2025 | 2,876,165 |  | 2,876,165
At 31 January 2024 | 2,937,268 |  | 2,937,268

Revaluation of tangible assets

The company's long leasehold interest in the property at Port Edgar Marina was valued by Christie & Co, a registered property valuer on 20th January 2017 on an existing use going concern basis. Subsequent to 2017, the directors have accepted the valuation each year to date.

| 2025 |  | 2024
| £ |  | £
Historical cost | 1,889,958 |  | 1,889,958
Accumulated depreciation | (408,795) |  | (347,692)
Carrying value | 1,481,163 |  | 1,542,266

#### 4. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 February 2024 | 375,001
At 31 January 2025 | 375,001
Carrying value at 31 January 2025 | 375,001
Carrying value at 31 January 2024 | 375,001

The company's investments at the year end include a 100 % holding in Port Edgar Marina Limited and a 100% holding in Production Yachts (Port Edgar) Limited.

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 541 |  | 5,477
Other debtors | 143,415 |  | 8,096
| 143,956 |  | 13,573

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 127,760
Trade creditors | 40,637 |  | 8,190
Amounts owed to Group undertakings | 524,217 |  | 370,437
Amounts owed to connected companies | 944,558 |  | 370,258
Taxation and social security | 59,265 |  | 36,845
Other creditors | 414,231 |  | 730,488
| 1,982,908 |  | 1,643,978

The company's bankers hold a charge over the long leasehold interest in Port Edgar Marina and a floating charge over the assets of the company.

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 341,839

The company's bankers hold a charge over the long leasehold interest in Port Edgar Marina and a floating charge over the assets of the company.

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
30 Ordinary shares of £ 0.10 each | 3 |  | 3

#### 9. Financial commitments

Commitments

| 2025 |  | 2024
| £ |  | £
Total future minimum lease payments under non-cancellable operating lease | 1,132,750 |  | 1,266,250

#### 10. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts owed to connected companies | 944,558 |  | 370,258