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REGISTERED NUMBER: SC447444 (Scotland)

| Gourdie Farm Investments Ltd |

| Unaudited Financial Statements |

| for the Year Ended 30 April 2025 |

| Gourdie Farm Investments Ltd (Registered number: SC447444) |

Contents of the Financial Statements

for the Year Ended 30 April 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Gourdie Farm Investments Ltd |

Company Information

for the Year Ended 30 April 2025

| DIRECTORS: | Mrs M L C T Yu

| Mr P C T Yu

| REGISTERED OFFICE: | 9 Ainslie Place

| Edinburgh

| Lothian

| EH3 6AT

| REGISTERED NUMBER: | SC447444 (Scotland)

| ACCOUNTANTS: | Whitelaw Wells

| 9 Ainslie Place

| Edinburgh

| Midlothian

| EH3 6AT

| BANKERS: | Bank of Scotland

| Reform Street

| PO BOX 17235

| Dundee

| EH11 1YH

| SOLICITORS: | Blackadders LLP

| 34 Reform Street

| Dundee, Tayport

| Fife

| DD1 1RJ

| Gourdie Farm Investments Ltd (Registered number: SC447444) |

Balance Sheet

30 April 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 163 |  | 325 |  |

Investment property | 5 | 1,240,716 |  | 1,240,716 |  |

1,240,879 |  | 1,241,041 |  |

CURRENT ASSETS

Debtors | 6 | 4,806 |  | 1,194 |  |

Cash at bank | 167,268 |  | 207,700 |  |

172,074 |  | 208,894 |  |

CREDITORS

Amounts falling due within one year | 7 | 670,215 |  | 736,188 |  |

NET CURRENT LIABILITIES | (498,141 | ) | (527,294 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 742,738 |  | 713,747 |  |

PROVISIONS FOR LIABILITIES | 41 |  | 81 |  |

NET ASSETS | 742,697 |  | 713,666 |  |

| Gourdie Farm Investments Ltd (Registered number: SC447444) |

Balance Sheet - continued

30 April 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 200 |  | 200 |  |

Retained earnings | 742,497 |  | 713,466 |  |

SHAREHOLDERS' FUNDS | 742,697 |  | 713,666 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 2 October 2025 and were signed on its behalf by:

Mr P C T Yu - Director

| Gourdie Farm Investments Ltd (Registered number: SC447444) |

Notes to the Financial Statements

for the Year Ended 30 April 2025

1. | STATUTORY INFORMATION

| Gourdie Farm Investments Ltd 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.

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.

| Turnover and revenue recognition

| Turnover represents the receipt of rent.

| Rent is recognised in accordance with the lease agreement. Where there are lease incentives such as rent free periods the rent relating to these incentives is accrued and subsequently released of the full period of the lease agreement.

| Tangible fixed assets

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

| Plant and machinery etc | - | 25% on cost

| Investment property

| Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

| Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

| Financial instruments

| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

| All loans with related parties are all repayable on demand.

| Gourdie Farm Investments Ltd (Registered number: SC447444) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. 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 or deferred 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 balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| 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.

| Provisions

| Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 2 ) .

| Gourdie Farm Investments Ltd (Registered number: SC447444) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 May 2024

| and 30 April 2025 | 1,108 |  |

| DEPRECIATION

| At 1 May 2024 | 783 |  |

| Charge for year | 162 |  |

| At 30 April 2025 | 945 |  |

| NET BOOK VALUE

| At 30 April 2025 | 163 |  |

| At 30 April 2024 | 325 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 May 2024

| and 30 April 2025 | 1,240,716 |  |

| NET BOOK VALUE

| At 30 April 2025 | 1,240,716 |  |

| At 30 April 2024 | 1,240,716 |  |

| Investment properties are shown at the directors' estimated valuation as at 30th April 2025. The directors are not professional valuers.

| If the investment properties had not been revalued they would have been included at the following historical cost: £1,240,716 (2024 - £1,240,716).

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 4,806 |  | 1,194 |  |

| Gourdie Farm Investments Ltd (Registered number: SC447444) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Taxation and social security | 13,433 |  | 22,719 |  |

| Other creditors | 656,782 |  | 713,469 |  |

670,215 |  | 736,188 |  |

| Other creditors includes an interest-free loan of £77,179 (2024: £151,587) due to Gourdie Farm Associates Limited, a company which is owned by the directors.

| Other creditors also include balances owed to the directors' current accounts of £474,642 (2024: £472,304). These balances are unsecured, interest-free, and repayable on demand.

8. | CONTINGENT LIABILITIES

| If the company's investment properties were sold at valuation, no capital gains tax liability will arise (NIL: 2024).