The Green Hotel Limited

	Page
Company Information	1
Balance Sheet	2—3
Notes to the Financial Statements	4—9

Page 1

Page 2

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: SC548341

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,801,451		1,907,568

			1,801,451		1,907,568
CURRENT ASSETS
Stocks	5	15,991		22,596
Debtors	6	92,253		26,765
Cash at bank and in hand		17,638		12,841

		125,882		62,202
Creditors: Amounts Falling Due Within One Year	7	(802,445 )		(715,715 )

NET CURRENT ASSETS (LIABILITIES)			(676,563 )		(653,513 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,124,888		1,254,055

Creditors: Amounts Falling Due After More Than One Year	8		(1,172,301 )		(1,113,159 )

NET (LIABILITIES)/ASSETS			(47,413 )		140,896

CAPITAL AND RESERVES
Called up share capital	9		100		100
Share premium account			2,272,595		2,272,595
Revaluation reserve	11		200,000		400,000
Profit and Loss Account			(2,520,108 )		(2,531,799 )

SHAREHOLDERS' FUNDS			(47,413)		140,896

Page 2

Page 3

The Green Hotel Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr James Montgomery

Director

4 November 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

Page 4

The Green Hotel Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

The Green Hotel Limited is a private Company, limited by shares, incorporated in Scotland: registration number SC548341 . The registered office address is 2 The Muirs, Kinross, Perth & Kinross, KY13 8AS.

The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2. Going Concern Disclosure

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period of 12 months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Significant judgements and estimations

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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 where the revision affect is only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2.4. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

Page 5

The Green Hotel Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.

Freehold property is carried at fair value determined periodically by the directors and derived from independent, professionally qualified valuers. Changes in fair value are recognised in the revaluation reserve.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:

Freehold	2% straight line
Plant & Machinery	20% reducing balance
Fixtures & Fittings	20% reducing balance
Computer Equipment	20% reducing balance

2.6. Leasing and Hire Purchase Contracts

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.

Hire purchase contracts and finance leases

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss account.

2.8. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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 liabilities

...CONTINUED

Page 5

Page 6

The Green Hotel Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.8. Financial Instruments - continued

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

2.9. Taxation

Current taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred taxation

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.10. Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

3. Average Number of Employees

The average number of employees, including directors, during the year was as follows: 51 (2024: 57)

Page 6

Page 7

The Green Hotel Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost or Valuation
As at 1 April 2024	1,886,115	160,862	434,715	12,115	2,493,807
Additions	462	18,971	149,473	100	169,006
Revaluation	(200,000 )	-	-	-	(200,000 )

As at 31 March 2025	1,686,577	179,833	584,188	12,215	2,462,813

Depreciation
As at 1 April 2024	168,511	111,891	303,414	2,423	586,239
Provided during the period	29,733	10,534	32,900	1,956	75,123

As at 31 March 2025	198,244	122,425	336,314	4,379	661,362

Net Book Value
As at 31 March 2025	1,488,333	57,408	247,874	7,836	1,801,451

As at 1 April 2024	1,717,604	48,971	131,301	9,692	1,907,568

5. Stocks

	2025	2024
	£	£
Stock	15,991	22,596

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	39,146	19,202
Other debtors	53,107	7,563

	92,253	26,765

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	8,029	1,297
Trade creditors	177,461	244,726
Bank loans and overdrafts	8,333	8,333
Other loans	169,459	70,686
Other creditors	152,429	123,663
Taxation and social security	286,734	267,010

	802,445	715,715

Net obligations under finance lease and hire purchase contracts falling due within one year are secured over the assets to which they relate.

Loans are secured by fixed and floating charges over the assets of the company.

Page 7

Page 8

The Green Hotel Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	31,302	-
Bank loans	3,333	13,333
Other loans	-	32,836
Other creditors	1,137,666	1,066,990

	1,172,301	1,113,159

Net obligations under finance lease and hire purchase contracts falling due after more than one year are secured over the assets to which they relate.

Loans are secured by fixed and floating charges over the assets of the company.

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	4,611	4,165

	4,611	4,165

11. Reserves

	Revaluation Reserve
	£
As at 1 April 2024	400,000
Deficit on revaluation	(200,000)

As at 31 March 2025	200,000

12. Related Party Transactions

Included within "other creditors" is an amount of £5,000 (2024 - £5,000) due to Green Hotel Property Limited, a company in which the director, Mr James Montgomery, is also a director and shareholder. This loan is interest free with no fixed terms of repayment.

Included within "other creditors" is an amount of £760,908 (2024 - £1,030,422) due to Kinross Estate Company, a company in which the director, Mr James Montgomery, is also a director. This loan is interest free with no fixed terms of repayment.

Included within "other creditors" is an amount of £14,821 (2024 - £16,826) due to Loch Leven Gin Limited, a company in which the director, Mr James Montgomery, is also a director and shareholder. This loan is interest free with no fixed terms of repayment.

Included within "other creditors" is an amount of £303,953 (2024 - £Nil) due to Montgomery Hotel Group, a partnership in which the director, Mr James Montgomery, is a partner. This loan is interest free with no fixed terms of repayment.

Included within "other creditors" is an amount of £37,000 (2024 - £Nil) due to Tarhill Holdings Ltd, the parent company. This loan is interest free with no fixed terms of repayment.

Page 8

Page 9

The Green Hotel Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

13. Ultimate Parent Undertaking and Controlling Party

The ultimate controlling party of the company is Tarhill Holdings Ltd , which owns 100% of the shares.

Tarhill Holdings Ltd is a company registered in England, registration number 14415471.

The registered office and principal place of business of Tarhill Holdings Ltd is 1 Wansfell Holme, Windermere, England, LA23 1LS .

Page 9

Directors	Mr Dean Charalambous
	Mr James Montgomery
	Mrs Elizabeth Montgomery

Company Number	SC548341

Registered Office	2 The Muirs
	Kinross
	Perth & Kinross
	KY13 8AS

Accountants	NSB Chartered Certified Accountants
	39 Hunter Grove
	Bathgate
	West Lothian
	EH48 1NN