IRIS Accounts Production v25.3.0.601 SC040121 Board of Directors 1.4.24 31.3.25 31.3.25 false true false false true false Fair value model iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC040121 2024-03-31 SC040121 2025-03-31 SC040121 2024-04-01 2025-03-31 SC040121 2023-03-31 SC040121 2023-04-01 2024-03-31 SC040121 2024-03-31 SC040121 ns15:Scotland 2024-04-01 2025-03-31 SC040121 ns14:PoundSterling 2024-04-01 2025-03-31 SC040121 ns10:Director1 2024-04-01 2025-03-31 SC040121 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC040121 ns10:SmallEntities 2024-04-01 2025-03-31 SC040121 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC040121 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 SC040121 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC040121 ns10:FullAccounts 2024-04-01 2025-03-31 SC040121 ns10:Director2 2024-04-01 2025-03-31 SC040121 ns10:Director3 2024-04-01 2025-03-31 SC040121 ns10:Director4 2024-04-01 2025-03-31 SC040121 ns10:Director5 2024-04-01 2025-03-31 SC040121 ns10:CompanySecretary1 2024-04-01 2025-03-31 SC040121 ns10:RegisteredOffice 2024-04-01 2025-03-31 SC040121 ns5:CurrentFinancialInstruments 2025-03-31 SC040121 ns5:CurrentFinancialInstruments 2024-03-31 SC040121 ns5:ShareCapital 2025-03-31 SC040121 ns5:ShareCapital 2024-03-31 SC040121 ns5:CapitalRedemptionReserve 2025-03-31 SC040121 ns5:CapitalRedemptionReserve 2024-03-31 SC040121 ns5:FurtherSpecificReserve3ComponentTotalEquity 2025-03-31 SC040121 ns5:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 SC040121 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 SC040121 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 SC040121 ns5:PlantMachinery 2024-03-31 SC040121 ns5:FurnitureFittings 2024-03-31 SC040121 ns5:PlantMachinery 2024-04-01 2025-03-31 SC040121 ns5:FurnitureFittings 2024-04-01 2025-03-31 SC040121 ns5:PlantMachinery 2025-03-31 SC040121 ns5:FurnitureFittings 2025-03-31 SC040121 ns5:PlantMachinery 2024-03-31 SC040121 ns5:FurnitureFittings 2024-03-31 SC040121 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 SC040121 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 SC040121 ns5:Non-currentFinancialInstruments ns5:AfterOneYear 2025-03-31 SC040121 ns5:Non-currentFinancialInstruments ns5:AfterOneYear 2024-03-31 SC040121 ns5:DeferredTaxation 2024-03-31 SC040121 ns5:DeferredTaxation 2024-04-01 2025-03-31 SC040121 ns5:DeferredTaxation 2025-03-31 SC040121 ns5:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 SC040121 ns10:Director2 2 2024-03-31 SC040121 ns10:Director2 2 2023-03-31 SC040121 ns10:Director2 2 2024-04-01 2025-03-31 SC040121 ns10:Director2 2 2023-04-01 2024-03-31 SC040121 ns10:Director2 2 2025-03-31 SC040121 ns10:Director2 2 2024-03-31

REGISTERED NUMBER: SC040121 (Scotland)

| Unaudited Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Balmadies Estate Limited |

| Balmadies Estate Limited (Registered number: SC040121) |

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 |

| Balmadies Estate Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | J C Osborne

| J R Osborne

| N G Osborne

| C G Osborne

| SECRETARY: | MBM Secretarial Services Ltd

| REGISTERED OFFICE: | c/o J C Osborne Esq

| Bell Ingram

| Manor Street

| Forfar

| Angus

| DD8 1EX

| REGISTERED NUMBER: | SC040121 (Scotland)

| ACCOUNTANTS: | A H & Co Ltd

| Chartered Accountants

| 6 Logie Mill

| Edinburgh

| Lothian

| EH7 4HG

| BANKERS: | Bank of Scotland

| 72 West High Street

| Forfar

| DD8 2TD

| SOLICITORS: | Murray Beith Murray WS

| 3 Glenfinlas Street

| Edinburgh

| EH3 6AQ

| Balmadies Estate Limited (Registered number: SC040121) |

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 22,681 |  | 10,984 |  |

Investment property | 5 | 5,600,000 |  | 4,848,746 |  |

5,622,681 |  | 4,859,730 |  |

CURRENT ASSETS

Debtors | 6 | 7,086 |  | 303,199 |  |

Cash at bank | 17,403 |  | 25,380 |  |

24,489 |  | 328,579 |  |

CREDITORS

Amounts falling due within one year | 7 | 21,501 |  | 4,678 |  |

NET CURRENT ASSETS | 2,988 |  | 323,901 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,625,669 |  | 5,183,631 |  |

PROVISIONS FOR LIABILITIES | 8 | 1,322,726 |  | 1,134,912 |  |

NET ASSETS | 4,302,943 |  | 4,048,719 |  |

CAPITAL AND RESERVES

Called up share capital | 62,000 |  | 70,000 |  |

Capital redemption reserve | 8,000 |  | - |  |

Fair value reserve | 9 | 4,164,713 |  | 3,601,873 |  |

Retained earnings | 68,230 |  | 376,846 |  |

SHAREHOLDERS' FUNDS | 4,302,943 |  | 4,048,719 |  |

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by:

J C Osborne - Director

| Balmadies Estate Limited (Registered number: SC040121) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Balmadies Estate 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.

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 the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax, and other sales taxes.

| Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represent the value of services provided under contracts to the extent that there is a right to consideration and is recorded at fair value of the consideration received or receivable.

| Tangible fixed assets

| Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is

| provided on all tangible fixed assets, other than investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

| Freehold property - 2% per annum

| Improvements to property - 5% per annum

| Plant and machinery - 20% per annum

| Fixture and fittings - 20% per annum

| 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.

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

| Investment property

| Investment properties are measured at fair value annually with any change recognised in the profit and loss account.

| In accordance with Financial Reporting Standard 102 no depreciation is provided in respect of freehold properties held as investment properties.

| 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.

| 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.

| Balmadies Estate Limited (Registered number: SC040121) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Exemption from preparing a cash flow statement

| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

| Provisions

| Provisions are recognised when the company has a present obligation (legal or constructive) 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 1 ) .

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |

| machinery |  | fittings |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 17,779 |  | 4,448 |  | 22,227 |  |

| Additions | 11,947 |  | - |  | 11,947 |  |

| At 31 March 2025 | 29,726 |  | 4,448 |  | 34,174 |  |

| DEPRECIATION

| At 1 April 2024 | 7,045 |  | 4,198 |  | 11,243 |  |

| Charge for year | - |  | 250 |  | 250 |  |

| At 31 March 2025 | 7,045 |  | 4,448 |  | 11,493 |  |

| NET BOOK VALUE

| At 31 March 2025 | 22,681 |  | - |  | 22,681 |  |

| At 31 March 2024 | 10,734 |  | 250 |  | 10,984 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024 | 4,848,746 |  |

| Additions | 1,200 |  |

| Revaluations | 750,054 |  |

| At 31 March 2025 | 5,600,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 5,600,000 |  |

| At 31 March 2024 | 4,848,746 |  |

| Balmadies Estate Limited (Registered number: SC040121) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | INVESTMENT PROPERTY - continued

| Fair value at 31 March 2025 is represented by:

£ |

| Valuation in 2024 | 5,600,000 |  |

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Cost | 166,016 |  | 166,016 |  |

| Aggregate depreciation | (47,127 | ) | (47,127 | ) |

| Investment property was valued on an open market basis on 4 December 2024 by Bell Ingram .

6. | DEBTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Amounts falling due within one year:

| Trade debtors | - |  | 600 |  |

| Other debtors | 7,086 |  | 7,495 |  |

7,086 |  | 8,095 |  |

| Amounts falling due after more than one year:

| Other debtors | - |  | 295,104 |  |

| Aggregate amounts | 7,086 |  | 303,199 |  |

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Taxation and social security | - |  | 2,035 |  |

| Other creditors | 21,501 |  | 2,643 |  |

21,501 |  | 4,678 |  |

8. | PROVISIONS FOR LIABILITIES

| 31.3.25 |  | 31.3.24

£ | £ |

| Deferred tax provision | 1,322,726 |  | 1,134,912 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 1,134,912 |  |

| Provided during year | 187,814 |  |

| Balance at 31 March 2025 | 1,322,726 |  |

| Balmadies Estate Limited (Registered number: SC040121) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

9. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 April 2024 | 3,601,873 |  |

| Transfer | 562,840 |  |

| At 31 March 2025 | 4,164,713 |  |

10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

| 31.3.25 |  | 31.3.24

£ | £ |

| J C Osborne

| Balance outstanding at start of year | 733 |  | 4,655 |  |

| Amounts repaid | (937 | ) | (3,922 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (204 | ) | 733 |  |

11. | RELATED PARTY DISCLOSURES

| Related Party |  | Type of Transaction |  | Transactions in year |  | Transactions in year |  | Receivable from/ (Payable to) related party as at |  | Receivable from/ (Payable to) related party as at |

|  | 31.3.25 |  | 31.3.24 |  | 31.3.25 |  | 31.3.24 |

|  | £ |  | £ |  | £ |  | £ |

| (1) Partnership under common control |  | Loan |  | 313,406 |  | (11,325) |  | (18,302) |  | 295,104 |

|  | Management |  | 1,500 | 1,500 | - |  | - |

| charge |  |

|  | Rent |  | (60,000) | (60,000) | - |  | - |

| (1) Two directors and shareholders of Balmadies Estate Limited are also partners in the above partnership. There are no fixed terms for repayment of the above loan. Interest is charged at the Bank of England base rate.

12. | ULTIMATE CONTROLLING PARTY

| There is no ultimate controlling party.