Silverfin false false 28/02/2025 01/03/2024 28/02/2025 Tara Jaffrey 25/02/2022 31 October 2025 The principal activity of the company during the financial year was that of operating the Corner on The Square Café/Shop in Beauly. SC724502 2025-02-28 SC724502 bus:Director1 2025-02-28 SC724502 2024-02-29 SC724502 core:CurrentFinancialInstruments 2025-02-28 SC724502 core:CurrentFinancialInstruments 2024-02-29 SC724502 core:Non-currentFinancialInstruments 2025-02-28 SC724502 core:Non-currentFinancialInstruments 2024-02-29 SC724502 core:ShareCapital 2025-02-28 SC724502 core:ShareCapital 2024-02-29 SC724502 core:RetainedEarningsAccumulatedLosses 2025-02-28 SC724502 core:RetainedEarningsAccumulatedLosses 2024-02-29 SC724502 core:Goodwill 2024-02-29 SC724502 core:OtherResidualIntangibleAssets 2024-02-29 SC724502 core:Goodwill 2025-02-28 SC724502 core:OtherResidualIntangibleAssets 2025-02-28 SC724502 core:LandBuildings 2024-02-29 SC724502 core:FurnitureFittings 2024-02-29 SC724502 core:LandBuildings 2025-02-28 SC724502 core:FurnitureFittings 2025-02-28 SC724502 bus:OrdinaryShareClass1 2025-02-28 SC724502 2024-03-01 2025-02-28 SC724502 bus:FilletedAccounts 2024-03-01 2025-02-28 SC724502 bus:SmallEntities 2024-03-01 2025-02-28 SC724502 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 SC724502 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 SC724502 bus:Director1 2024-03-01 2025-02-28 SC724502 core:Goodwill core:TopRangeValue 2024-03-01 2025-02-28 SC724502 core:OtherResidualIntangibleAssets core:TopRangeValue 2024-03-01 2025-02-28 SC724502 core:LandBuildings core:TopRangeValue 2024-03-01 2025-02-28 SC724502 core:FurnitureFittings 2024-03-01 2025-02-28 SC724502 2023-03-01 2024-02-29 SC724502 core:Goodwill 2024-03-01 2025-02-28 SC724502 core:OtherResidualIntangibleAssets 2024-03-01 2025-02-28 SC724502 core:LandBuildings 2024-03-01 2025-02-28 SC724502 core:CurrentFinancialInstruments 2024-03-01 2025-02-28 SC724502 core:Non-currentFinancialInstruments 2024-03-01 2025-02-28 SC724502 bus:OrdinaryShareClass1 2024-03-01 2025-02-28 SC724502 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC724502 (Scotland)

# T & L JAFFREY LTD

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH THE REGISTRAR

T & L JAFFREY LTD

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD ENDED 28 FEBRUARY 2025

Contents

T & L JAFFREY LTD

## BALANCE SHEET

AS AT 28 FEBRUARY 2025
T & L JAFFREY LTD

## BALANCE SHEET (continued)

AS AT 28 FEBRUARY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 74,049 |  | 84,417
Tangible assets | 4 | 71,047 |  | 79,937
|  | 145,096 |  | 164,354
Current assets |  |  |  |
Stocks |  | 40,000 |  | 40,000
Debtors | 5 | 134,252 |  | 60,357
Cash at bank and in hand |  | 1,331 |  | 14,783
|  | 175,583 |  | 115,140
Creditors: amounts falling due within one year | 6 | ( 354,378) |  | ( 293,943)
Net current liabilities |  | (178,795) |  | (178,803)
Total assets less current liabilities |  | (33,699) |  | (14,449)
Creditors: amounts falling due after more than one year | 7 | ( 4,219) |  | ( 5,625)
Net liabilities |  | ( 37,918) |  | ( 20,074)
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Profit and loss account |  | ( 38,018 ) |  | ( 20,174 )
Total shareholders' deficit |  | ( 37,918) |  | ( 20,074)

For the financial period ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The director acknowledges 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of T & L Jaffrey Ltd (registered number: SC724502) were approved and authorised for issue by the Director on 31 October 2025. They were signed on its behalf by:

Tara Jaffrey Director |

T & L JAFFREY LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD ENDED 28 FEBRUARY 2025
T & L JAFFREY LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD ENDED 28 FEBRUARY 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

##### General information and basis of accounting

T & L Jaffrey Ltd (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 3a The Cairns, Muir Of Ord, IV6 7AT, United Kingdom.
The financial statements have been prepared under the historical cost convention, 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 £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

##### 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.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line
Other intangible assets | 4 years straight line

##### 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 | 10 years straight line
Fixtures and fittings | 25 % 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, other than those measured at fair value, 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.

##### 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. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. 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 cash in hand and 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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially 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.

##### Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.
A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the period, including the director | 27 |  | 29

#### 3. Intangible assets

| Goodwill |  | Other intangible assets |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 March 2024 | 101,547 |  | 854 |  | 102,401
At 28 February 2025 | 101,547 |  | 854 |  | 102,401
Accumulated amortisation |  |  |  |  |
At 01 March 2024 | 17,771 |  | 213 |  | 17,984
Charge for the financial period | 10,155 |  | 213 |  | 10,368
At 28 February 2025 | 27,926 |  | 426 |  | 28,352
Net book value |  |  |  |  |
At 28 February 2025 | 73,621 |  | 428 |  | 74,049
At 29 February 2024 | 83,776 |  | 641 |  | 84,417

#### 4. Tangible assets

| Land and buildings |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 March 2024 | 14,722 |  | 96,756 |  | 111,478
Additions | 0 |  | 10,761 |  | 10,761
At 28 February 2025 | 14,722 |  | 107,517 |  | 122,239
Accumulated depreciation |  |  |  |  |
At 01 March 2024 | 1,022 |  | 30,519 |  | 31,541
Charge for the financial period | 1,472 |  | 18,179 |  | 19,651
At 28 February 2025 | 2,494 |  | 48,698 |  | 51,192
Net book value |  |  |  |  |
At 28 February 2025 | 12,228 |  | 58,819 |  | 71,047
At 29 February 2024 | 13,700 |  | 66,237 |  | 79,937

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Corporation tax | 31,074 |  | 13,446
Other debtors | 103,178 |  | 46,911
| 134,252 |  | 60,357

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 44,295 |  | 0
Trade creditors | 47,010 |  | 48,133
Taxation and social security | 90,972 |  | 48,888
Obligations under finance leases and hire purchase contracts | 6,684 |  | 0
Other creditors | 165,417 |  | 196,922
| 354,378 |  | 293,943

Obligations under hire purchase contracts totalling £6,684, are secured over the assets which they relate to.

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

| 2025 |  | 2024
| £ |  | £
Other creditors | 4,219 |  | 5,625

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 9. Related party transactions

Transactions with the entity's director

| 2025 |  | 2024
| £ |  | £
Amounts owed by director | 38,342 |  | 38,974

The above loan is unsecured, has no fixed repayment terms and an interest rate of 2.25% has been applied.

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts owed by related parties | 53,728 |  | 0

The above loan is unsecured, interest free and has no fixed repayment terms.