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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Black Sheep Farms Limited is a private company limited by shares incorporated in Scotland. The registered office is Tom an Oir, Invergarry, Invernessshire, United Kingdom, PH35 4HR.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have prepared the financial statement on a going concern basis. The basis is considered appropriate as the intermediate parent company, Mars Hospitality (UK) Ltd has confirmed that it will provide financial and operating support to enable the company to continue trading and meeting its liabilities as they fall due.true

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. the cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock includes biological assets.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

Recognition and measurement

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in the case of an out-right short term loan not as a market rate, the financial asset or liability is measured initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Impairment

Financial assets that are measured at a cost and amortised costs are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit & Loss account.

For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a a financial asset has a variable interest rate the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts an there is an intention to settle on a net basis or to realies the asset and settle the liability simultaneously.

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.

Trade Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers./ Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognise initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

The average monthly number of persons (including directors) employed by the company during the year was:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

At the year end , the amounts owed to and from other companies within the group was as follows; it should be noted that all amounts are interest free and repayable on demand.

The company owed a loan balance of £467,500 (2024: £308,500) to Mars Hospitality (UK) Ltd, (the company's parent company). The loan is secured by a floating charge over the whole of the Company's property. The company was owed a balance of £1,205 (2024: £1,804) by Mars Hospitality (UK) Ltd for expenses pain on their behalf.

The company owed Mars Highland Development Limited £1,516 (2024: £nil) and Mars Project Ltd £2,813 (2024: £46,663) for expenses paid on its behalf.

The company was owed £6,782 ( 2024 £138) by Black Sheep Management Services Limited and £2,984 (2024: £nil) by Mars Commercial Property Holdings Ltd, both fellow subsidiary for expenses paid on their behalf.

The company is a 100% subsidiary of Mars Hospitality (UK) Ltd. the ultimate parent company is Mars Enterprises & Hospitality Pvt Ltd, a company registered in India.

The smallest and largest group for which consolidated financial statements are prepared, is that group headed by the ultimate parent undertaking, Mars Enterprises & Hospitality Pvt Ltd. Copies of these accounts can be obtained from Mars Enterprises & Hospitality Pvt Ltd, Georgina C , Sherly Rajan Road, Bandra West, Mumbai 400 050, Maharashtra, India.