REGISTERED NUMBER: SC031917 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Pentland Investments Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A D MacLean

Mrs P A MacLean

Dr C A MacLean

R A MacLean

SECRETARY:

Mrs P A MacLean

REGISTERED OFFICE:

c/o The Raeburn Hotel

112 Raeburn Place

Stockbridge

Edinburgh

EH4 1HG

REGISTERED NUMBER:

SC031917 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Tangible assets

4

6,216,440

4,197,098

Investments

5

297,586

-

6,514,026

4,197,098

CURRENT ASSETS

Stocks

133,537

2,448,775

Debtors

6

2,235,092

2,532,876

Cash at bank and in hand

4,849,424

3,313,857

7,218,053

8,295,508

CREDITORS

Amounts falling due within one year

7

2,845,495

1,959,347

NET CURRENT ASSETS

4,372,558

6,336,161

TOTAL ASSETS LESS CURRENT LIABILITIES

10,886,584

10,533,259

CAPITAL AND RESERVES

Called up share capital

3,000,000

3,000,000

Other reserves

10,901

10,901

Retained earnings

7,875,683

7,522,358

SHAREHOLDERS' FUNDS

10,886,584

10,533,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 22 August 2025 and were signed on its behalf by:

A D MacLean - Director

1.	STATUTORY INFORMATION

Pentland Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at fair value of the consideration received or receivable and represents the amount receivable for goods or services supplied to customers in the normal course of business, . net of discounts, VAT and other sales-related taxes. The principle turnover streams of the company are forecourt retail and hotelier; the policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer. This is at the time the services are provided.

Tangible fixed assets

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

Fixtures and fittings - 50% on cost

Stocks

Stocks are valued at the lower of cost and selling price less costs to sell, after making due allowance for obsolete and slow moving items. Cost comprises cash paid and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Financial instruments

Debtors and creditors with no stated interest rate 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.

Taxation

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 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 statement of financial position date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Land & buildings and improvements to property

No depreciation is provided in respect of land and buildings or improvements to property. This treatment may be a departure from the accounting standard requirements concerning the depreciation of fixed assets. However, the company maintains the buildings in a good state of repair, and the market value of the buildings are not less than their historic cost and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view.

Investment properties

Investment properties are measured at fair value in accordance with section 16 of FRS 102. The directors consider that values have not materially changed in the period to disposal.

Impairment

At each balance sheet date, the company reviews the carrying amounts of its tangible and investment assets to determine whether there is any indication that those assets have suffered an impairment loss. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Critical accounting judgements and estimation uncertainties

The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. In this regard, the Directors believe that the critical accounting policy where judgements or estimations are necessarily applied is summarised below.

Depreciation and residual values

The Directors have reviewed the asset lives and associated residual values of all fixed asset classes, and in particular the useful economic life and residual values, and have concluded that asset lives and residual values are appropriate.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 43 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

1,577,303

3,488,339

5,065,642

Additions

102,429

-

102,429

At 31 March 2025

1,679,732

3,488,339

5,168,071

DEPRECIATION

At 1 April 2024

-

868,544

868,544

Reclassification/transfer

(1,916,913

)

-

(1,916,913

)

At 31 March 2025

(1,916,913

)

868,544

(1,048,369

)

NET BOOK VALUE

At 31 March 2025

3,596,645

2,619,795

6,216,440

At 31 March 2024

1,577,303

2,619,795

4,197,098

There have been no indicators of impairment in the year under review.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

Reclassification/transfer

297,586

At 31 March 2025

297,586

NET BOOK VALUE

At 31 March 2025

297,586

Fixed asset investments comprised of investment properties, which were reclassified of in the year on the basis of primary use.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

33,460

3,104

Amounts owed by group undertakings

1,728,011

1,718,811

Other debtors

473,621

810,961

2,235,092

2,532,876

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

138,311

254,174

Amounts owed to group undertakings

1,850,000

550,000

Taxation and social security

152,783

281,488

Other creditors

704,401

873,685

2,845,495

1,959,347

8.	SECURED DEBTS

The Bank of Scotland hold letters of offset over the bank accounts of the company. There is also an outstanding charge for a property no longer owned by the company.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors' loan account was overdrawn at the year end, with a balance of £273,593 included within debtors. The loan is now interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Braemar Investments Limited, a company controlled by Borders Holdings (Scotland) Limited.