Company No: SC640648 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	681		797
Tangible assets	4	2,498,311		2,546,478
		2,498,992		2,547,275
Current assets
Stocks		75,470		66,414
Debtors	5	46,520		56,401
Cash at bank and in hand		6,377		10,736
		128,367		133,551
Creditors: amounts falling due within one year	6	( 3,100,818)		( 3,002,827)
Net current liabilities		(2,972,451)		(2,869,276)
Total assets less current liabilities		(473,459)		(322,001)
Creditors: amounts falling due after more than one year	7	( 442,234)		( 460,491)
Net liabilities		( 915,693)		( 782,492)
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		( 915,793 )		( 782,592 )
Total shareholders' deficit		( 915,693)		( 782,492)

For the financial year 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 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 Profit and Loss Account has not been delivered.

The financial statements of Rothes Glen Limited (registered number: SC640648) were approved and authorised for issue by the Board of Directors on 22 September 2025. They were signed on its behalf by:

Mr T Nutbrown Director

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

Rothes Glen 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 Rothes Glen House, Rothes, Aberlour, AB38 7AQ, Scotland, 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 liabilities of £915,693. The Company is supported through loans from the directors. 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.

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, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Intangible assets

Intangible assets are stated at cost, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Vehicles	5 years straight line
Fixtures and fittings	10 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.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and 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 cash and bank balances, are initially measured at transaction price including transaction costs.

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, loans from fellow group companies and preference shares 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. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		7

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	1,155		1,155
At 31 December 2024	1,155		1,155
Accumulated amortisation
At 01 January 2024	358		358
Charge for the financial year	116		116
At 31 December 2024	474		474
Net book value
At 31 December 2024	681		681
At 31 December 2023	797		797

4. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 January 2024	2,396,081		4,750		259,754		2,660,585
Additions	0		0		5,918		5,918
At 31 December 2024	2,396,081		4,750		265,672		2,666,503
Accumulated depreciation
At 01 January 2024	0		159		113,948		114,107
Charge for the financial year	0		950		53,135		54,085
At 31 December 2024	0		1,109		167,083		168,192
Net book value
At 31 December 2024	2,396,081		3,641		98,589		2,498,311
At 31 December 2023	2,396,081		4,591		145,806		2,546,478

5. Debtors

	2024		2023
	£		£
Trade debtors	25,188		35,270
Other debtors	21,332		21,131
	46,520		56,401

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	20,843		21,291
Trade creditors	38,404		50,658
Other taxation and social security	17,750		16,565
Other creditors	3,023,821		2,914,313
	3,100,818		3,002,827

The bank loan is secured by a fixed charge over the property held by the company and a guarantee has been provided by a member of key management personnel.

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

	2024		2023
	£		£
Bank loans	442,234		460,491

The bank loan is secured by a fixed charge over the property held by the company and a guarantee has been provided by a member of key management personnel.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Related party transactions

Transactions with owners holding a participating interest in the entity

	2024		2023
	£		£
Entities with control, joint control or significant influence over the company	689,968		689,968

Interest is charged on the above balance at 4% per annum. The balance is repayable only when the company has sufficient funds to do so.

Transactions with the entity's directors

	2024		2023
	£		£
Key management personnel	874,932		874,932

Interest is charged on the above balance at 4% per annum. The balance is repayable only when the company has sufficient funds to do so.

Other related party transactions

	2024		2023
	£		£
Other related parties	805,433		821,330

Interest is partially charged at 8.84% and partially at 4%. The balance is repayable only when the company has sufficient funds to do so.