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REGISTERED NUMBER: SC160238 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

BLAVEN LIMITED

BLAVEN LIMITED (REGISTERED NUMBER: SC160238)

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

BLAVEN LIMITED

COMPANY INFORMATION

for the year ended 31 March 2025

| DIRECTORS: | H Dow

| Mrs P J Dow

| Ms J Lister

| SECRETARY: | Mrs P J Dow

| REGISTERED OFFICE: | Suite G10

| The Green House Business Centre

| Beechwood Business Park North

| Inverness

| Highland

| IV2 3BL

| REGISTERED NUMBER: | SC160238 (Scotland)

| ACCOUNTANTS: | Mitchell Edwards

| Chartered Certified Accountants

| 24A Ainslie Place

| Edinburgh

| EH3 6AJ

| BANKERS: | The Royal Bank of Scotland

| Inverness Chief Office

| 29 Harbour Road

| Inverness

| IV1 1NU

| SOLICITORS: | Anderson Shaw & Gilbert

| York House

| 20 Church Street

| Inverness

| IV1 1ED

BLAVEN LIMITED (REGISTERED NUMBER: SC160238)

BALANCE SHEET

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ |

FIXED ASSETS

Investment property | 4 | 360,000 |  | 370,000 |  |

CURRENT ASSETS

Debtors | 5 | 1,502,477 |  | 1,488,040 |  |

Cash at bank | 103,363 |  | 89,835 |  |

1,605,840 |  | 1,577,875 |  |

CREDITORS

Amounts falling due within one year | 6 | 20,980 |  | 20,480 |  |

NET CURRENT ASSETS | 1,584,860 |  | 1,557,395 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,944,860 |  | 1,927,395 |  |

CAPITAL AND RESERVES

Called up share capital | 643,000 |  | 643,000 |  |

Fair value reserve | 8,343 |  | 18,343 |  |

Retained earnings | 1,293,517 |  | 1,266,052 |  |

SHAREHOLDERS' FUNDS | 1,944,860 |  | 1,927,395 |  |

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 September 2025 and were signed on its behalf by:

H Dow - Director

BLAVEN LIMITED (REGISTERED NUMBER: SC160238)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 March 2025

1. | STATUTORY INFORMATION

| Blaven 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

| Turnover

| Turnover represents the total of rent and other income due to the company for the rental of property, net of VAT.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement. Any surpluses together with the related deferred tax are transferred to a Fair Value reserve.

| 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.

3. | EMPLOYEES AND DIRECTORS

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

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024 | 370,000 |  |

| Revaluation | (10,000 | ) |

| At 31 March 2025 | 360,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 360,000 |  |

| At 31 March 2024 | 370,000 |  |

BLAVEN LIMITED (REGISTERED NUMBER: SC160238)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

4. | INVESTMENT PROPERTY - continued

| Fair value at 31 March 2025 is represented by:

£ |

| Valuation in 2024 | 18,343 |  |

| Valuation in 2025 | (10,000 | ) |

| Cost | 351,657 |  |

360,000 |  |

| If investment property had not been revalued it would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 351,657 |  | 351,657 |  |

| Investment property was valued on an open market basis on 31 March 2025 by the directors .

| In the opinion of the directors, the value of the company's investment properties is £360,000 (2024: £370,000). This is based on the rental yield of the properties and the directors' knowledge of the local property market.

5. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 125,000 |  | 131,000 |  |

| Other debtors | 81 |  | - |  |

125,081 |  | 131,000 |  |

| Amounts falling due after more than one year:

| Other debtors | 1,377,396 |  | 1,357,040 |  |

| Aggregate amounts | 1,502,477 |  | 1,488,040 |  |

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

2025 | 2024 |

£ | £ |

| Taxation and social security | 6,392 |  | 6,962 |  |

| Other creditors | 14,588 |  | 13,518 |  |

20,980 |  | 20,480 |  |

7. | RELATED PARTY DISCLOSURES

| Included in Other Debtors at 31 March 2025 is a loan to a company controlled by one of the directors of Blaven Limited amounting to £1,377,396 (2024: £1,357,040). The loan is unsecured, is repayable on demand, and interest is payable at 1.5% per annum.