Company No: SC368750 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	111		148
Investments	5	901,744		901,744
		901,855		901,892
Current assets
Debtors	6	2,446,569		2,050,942
Investments	7	843,817		483,797
Cash at bank and in hand		119,941		100,394
		3,410,327		2,635,133
Creditors: amounts falling due within one year	8	( 1,930,698)		( 1,208,931)
Net current assets		1,479,629		1,426,202
Total assets less current liabilities		2,381,484		2,328,094
Net assets		2,381,484		2,328,094
Capital and reserves
Called-up share capital	9	228		228
Profit and loss account		2,381,256		2,327,866
Total shareholders' funds		2,381,484		2,328,094

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

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge 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 Profit and Loss Account has not been delivered.

The financial statements of Blairston Enterprises Limited (registered number: SC368750) were approved and authorised for issue by the Board of Directors on 29 October 2025. They were signed on its behalf by:

S A M Di Ciacca Tana Director

1. Accounting policies

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

General information and basis of accounting

Blairston Enterprises Limited (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 C/O Johnston Carmichael, 227 West George Street, Glasgow, G2 2ND, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

The presentation of the disposal proceeds of the listed shares held by the Company has been restated to better reflect the nature of the transactions. This presentational change to the Profit and Loss Account has resulted in amendments to sales, cost of sales and income from other fixed asset investments as set out in note 2. The overall position remains unchanged.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

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:

Plant and machinery etc.

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 as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

2. Prior year adjustment

The 2024 financial statements have been restated to amend the presentation of the disposal proceeds of the listed shares held by the Company. This change has resulted in the turnover reducing by £181,092, cost of sales has reduced by £141,285 and income from other fixed asset investments has increased by £39,807. The restatement is presentational only and better reflects the nature of the transactions. The overall position remains unchanged.

		As previously reported		Adjustment		As restated
Year ended 29 February 2024		£		£		£
Turnover		181,092		(181,092)		0
Cost of sales		(141,285)		141,285		0
Income from other fixed asset investments		0		39,807		39,807

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 March 2024	1,239		1,239
At 28 February 2025	1,239		1,239
Accumulated depreciation
At 01 March 2024	1,091		1,091
Charge for the financial year	37		37
At 28 February 2025	1,128		1,128
Net book value
At 28 February 2025	111		111
At 29 February 2024	148		148

5. Fixed asset investments

	2025		2024
	£		£
Subsidiary undertakings	901,744		901,744

Investments in subsidiaries

	2025
	£
Cost
At 01 March 2024	901,744
At 28 February 2025	901,744
Carrying value at 28 February 2025	901,744
Carrying value at 29 February 2024	901,744

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 28.02.2025	Ownership 29.02.2024
Blairston Investments Limited	Scotland	Property Letting	Ordinary	100.00%	100.00%

6. Debtors

	2025		2024
	£		£
Amounts owed by own subsidiaries	1,220,096		824,469
Amounts owed by related parties	975,795		975,795
Other debtors	250,678		250,678
	2,446,569		2,050,942

7. Current asset investments

	2025		2024
	£		£
Listed investments – at fair value	843,817		483,797

The fair value of listed investments, which are all traded in active markets, was determined with reference to the quoted market price at the reporting date.

The historical cost of the above investments which are included at market value is £735,304 (2024: £416,228)

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other creditors	1,930,698		1,208,931

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2,826 C ordinary shares of £ 0.01 each	28		28
10,000 B ordinary shares of £ 0.01 each	100		100
10,000 A ordinary shares of £ 0.01 each	100		100
	228		228

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts owed to Key Management personnel	1,925,347		1,203,948

Other related party transactions

	2025		2024
	£		£
Amounts owed by other related parties	2,195,891		2,021,242