Silverfin false false 31/05/2025 01/06/2024 31/05/2025 Alexander Grant Brough Greenhill 02/03/2016 James Strachan Greenhill 01/03/2016 29 September 2025 The principal activity of the Company during the financial year was was the cultivation and sale of potatoes. SC528328 2025-05-31 SC528328 bus:Director1 2025-05-31 SC528328 bus:Director2 2025-05-31 SC528328 2024-05-31 SC528328 core:CurrentFinancialInstruments 2025-05-31 SC528328 core:CurrentFinancialInstruments 2024-05-31 SC528328 core:Non-currentFinancialInstruments 2025-05-31 SC528328 core:Non-currentFinancialInstruments 2024-05-31 SC528328 core:ShareCapital 2025-05-31 SC528328 core:ShareCapital 2024-05-31 SC528328 core:RetainedEarningsAccumulatedLosses 2025-05-31 SC528328 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC528328 core:LandBuildings 2024-05-31 SC528328 core:OtherPropertyPlantEquipment 2024-05-31 SC528328 core:LandBuildings 2025-05-31 SC528328 core:OtherPropertyPlantEquipment 2025-05-31 SC528328 core:RemainingRelatedParties core:CurrentFinancialInstruments 2025-05-31 SC528328 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-05-31 SC528328 2023-05-31 SC528328 bus:OrdinaryShareClass1 2025-05-31 SC528328 2024-06-01 2025-05-31 SC528328 bus:FilletedAccounts 2024-06-01 2025-05-31 SC528328 bus:SmallEntities 2024-06-01 2025-05-31 SC528328 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 SC528328 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 SC528328 bus:Director1 2024-06-01 2025-05-31 SC528328 bus:Director2 2024-06-01 2025-05-31 SC528328 core:OtherPropertyPlantEquipment 2024-06-01 2025-05-31 SC528328 2023-06-01 2024-05-31 SC528328 core:LandBuildings 2024-06-01 2025-05-31 SC528328 core:CurrentFinancialInstruments 2024-06-01 2025-05-31 SC528328 bus:OrdinaryShareClass1 2024-06-01 2025-05-31 SC528328 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC528328 (Scotland)

# GREENHILL PRODUCE LIMITED

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

GREENHILL PRODUCE LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

Contents

GREENHILL PRODUCE LIMITED

## BALANCE SHEET

AS AT 31 MAY 2025
GREENHILL PRODUCE LIMITED

## BALANCE SHEET (continued)

AS AT 31 MAY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 2,621,316 |  | 2,639,712
|  | 2,621,316 |  | 2,639,712
Current assets |  |  |  |
Stocks |  | 77,656 |  | 96,215
Debtors | 4 | 150,415 |  | 188,146
Cash at bank and in hand |  | 128,999 |  | 133,091
|  | 357,070 |  | 417,452
Creditors: amounts falling due within one year | 5 | ( 227,762) |  | ( 232,162)
Net current assets |  | 129,308 |  | 185,290
Total assets less current liabilities |  | 2,750,624 |  | 2,825,002
Creditors: amounts falling due after more than one year | 6 | ( 311,513) |  | ( 870,466)
Provision for liabilities | 7, 8 | ( 18,396) |  | ( 22,995)
Net assets |  | 2,420,715 |  | 1,931,541
Capital and reserves |  |  |  |
Called-up share capital | 9 | 90 |  | 90
Profit and loss account |  | 2,420,625 |  | 1,931,451
Total shareholders' funds |  | 2,420,715 |  | 1,931,541

For the financial year ending 31 May 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 Profit and Loss Account has not been delivered.

The financial statements of Greenhill Produce Limited (registered number: SC528328) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

James Strachan Greenhill Director |

GREENHILL PRODUCE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
GREENHILL PRODUCE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 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

Greenhill Produce 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 Upper Tulloes, Letham, By Forfar, DD8 2LZ, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties 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 have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.

##### 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 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
Plant and machinery etc. | 20 % reducing balance

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

Assets 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 Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews 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 sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.
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 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.

Basic financial assets
Basic financial assets, which include debtors and are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans that are classified as debt, are 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.

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.

##### Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

#### 2. Employees

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

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 June 2024 | 2,547,731 |  | 201,859 |  | 2,749,590
At 31 May 2025 | 2,547,731 |  | 201,859 |  | 2,749,590
Accumulated depreciation |  |  |  |  |
At 01 June 2024 | 0 |  | 109,878 |  | 109,878
Charge for the financial year | 0 |  | 18,396 |  | 18,396
At 31 May 2025 | 0 |  | 128,274 |  | 128,274
Net book value |  |  |  |  |
At 31 May 2025 | 2,547,731 |  | 73,585 |  | 2,621,316
At 31 May 2024 | 2,547,731 |  | 91,981 |  | 2,639,712

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 56,214 |  | 116,973
Amounts owed by related parties | 82,555 |  | 52,206
Other debtors | 11,646 |  | 18,967
| 150,415 |  | 188,146

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 29,582 |  | 28,582
Trade creditors | 7,865 |  | 62,605
Taxation and social security | 167,658 |  | 119,079
Other creditors | 22,657 |  | 21,896
| 227,762 |  | 232,162

Bank borrowings are secured by floating charge over the property or undertakings of the company.

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 311,513 |  | 870,466

#### 7. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 18,396 |  | 22,995

#### 8. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 22,995) |  | ( 18,258)
Credited/(charged) to the Profit and Loss Account | 4,599 |  | ( 4,737)
At the end of financial year | ( 18,396) |  | ( 22,995)

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
90 Ordinary shares of £ 1.00 each | 90 |  | 90

#### 10. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Amounts due to directors | 19,174 |  | 19,174

During the year no transactions were made. The balance is unsecured, interest free and has no fixed repayment terms.

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts due from / (to) an entity in which the director has a participating interest | 82,555 |  | 52,206

During the year there were advances of £210,349 and repayments of £180,000. The balance is unsecured, interest free and has no fixed repayment terms.