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Registration number: 11655173

Taymouth Holdings Ltd
Filleted Financial Statements
for the Year Ended 31 December 2024

Taymouth Holdings Ltd

Contents

Balance Sheet | 1
Notes to the Financial Statements | 2 to 7

Taymouth Holdings Ltd

(Registration number: 11655173)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Investments | 6 | 5 | 39,989
Current assets |  |  |
Debtors | 7 | 175,374,081 | 120,603,890
Cash at bank and in hand |  | 2,748,287 | 162
|  | 178,122,368 | 120,604,052
Creditors: Amounts falling due within one year | 8 | (182,048,951) | (124,468,074)
Net current liabilities |  | (3,926,583) | (3,864,022)
Net liabilities |  | (3,926,578) | (3,824,033)
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Retained earnings |  | (3,926,579) | (3,824,034)
Shareholders' deficit |  | (3,926,578) | (3,824,033)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option to not file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:

T G Collopy

Director

Taymouth Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England.

The principal activity of the company is being a holding company.

The address of its registered office is:
C/O Alter Domus (UK) Limited
10th Floor
30 St Mary Axe
LONDON
EC3A 8BF

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102 1A'), and with the Companies Act 2006.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken exemption from preparing group accounts as it is the head of a small group.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to ongoing support of the parent company and certain related parties. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Taymouth Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
Specifically, judegments and estimates are required in determining the recoverability of debtors.
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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. 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 are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.
Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.
Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.
Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the asset have been affected.

Taymouth Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due acording to the original terms of the contract.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be
immaterial. In such cases creditors are stated at transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 10 October 2025 was Nigel Ling, who signed for and on behalf of DJH Audit Limited.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 5).

4 | Tax

There are £8,512,334 (2023: £9,083,136) of unused trading tax losses for which no deferred tax asset is recognised in the Balance Sheet.

5 | Loss before tax

| 2024 £ | 2023 £
Exceptional administrative expenses | 39,985 | 3,600,026

Taymouth Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Other investments were member interests in Taymouth Castle acquired in 2022. As at year end the directors were of the opinion that the other investments had a £nil value and therefore wrote them off.
On 19 January 2023, Taymouth Holdings Limited completed the acquisition of the ordinary member interests from The River Tay Castle LLP for £3,600,026. As at year ended 2023 the directors were of the opinion the the investment had £nil value and therefore wrote it off.

6 | Investments

| 2024 £ | 2023 £
Investments in subsidiaries | 5 | 4
Other investments | - | 39,985
| 5 | 39,989

Subsidiaries | £
Cost or valuation
At 1 January 2024 and 31 December 2023 | 4
Additions | 1
At 31 December 2024 | 5
Carrying amount
At 31 December 2024 | 5
At 31 December 2023 | 4

The company owns the entire share capital of: Taymouth (Member No. 2) Ltd, River Tay Development Ltd, Taymouth Club Ltd and Taymouth Village Ltd at a value of £1 each.
During the current year 2024 the company acquired the entire share capital of Taymouth Management Limited at a value of £1, on the 10th June 2024.
It also owns a 99.9% initial investor's stake in The River Tay Castle LLP (No. OC424738), although it was not required to subscribe for any members' capital - hence the carrying value of this investment is £nil. The other 0.1% is owned indirectly via Taymouth (Member No. 2) Ltd.

Taymouth Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Other investments

| £
Cost or valuation
At 1 January 2024 | 39,985
Written off | (39,985)
At 31 December 2024 | -

Other investments relates to founder member interests in Taymouth Castle acquired in 2022.
As at year end the directors were of the opinion that the other investments had a £nil value and therefore wrote them off.

7 | Debtors

| 2024 £ | 2023 £
Amounts owed by group undertakings | 175,364,066 | 120,593,875
Other debtors | 10,015 | 10,015
| 175,374,081 | 120,603,890

8 | Creditors

| 2024 £ | 2023 £
Due within one year |  |
Trade creditors | 2,544 | 5,016
Amounts owed to group undertakings | 182,023,809 | 124,439,718
Other creditors | 22,598 | 23,340
| 182,048,951 | 124,468,074

9 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary of £1 each | 1 | 1 | 1 | 1

Taymouth Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

10 | Related party transactions

Summary of transactions with other related parties

The company has taken advantage of the exemption in FRS 102 1AC.35 "Related Party Disclosures" from disclosing transactions with other members of the group.
Amounts due to and from group undertakings are interest free, unsecured and repayable on demand.

11 | Control

Up until 31 December 2024 the largest group of undertakings of which the company was a member, and for which consolidated accounts were produced, was that headed by Discovery Land Consolidated LLC.
The registered office and principal place of business of Discovery Land Consolidated LLC is 14605 North 73rd Street, Scottsdale, Arizona 85260, USA.
On 31 December 2024, following a debt for equity swap in the immediate US parent company of Taymouth Holdings Limited, ownership changed and the company is no longer a member of a group for which consolidated accounts are prepared.