Company No: SC521229 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	443,510		444,220
Investments	4	7,253		14,085
		450,763		458,305
Current assets
Debtors	5	64,958		114,149
Cash at bank and in hand		29,174		2,233
		94,132		116,382
Creditors: amounts falling due within one year	6	( 21,597)		( 21,186)
Net current assets		72,535		95,196
Total assets less current liabilities		523,298		553,501
Net assets		523,298		553,501
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		523,198		553,401
Total shareholders' funds		523,298		553,501

For the financial 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.

Director's 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 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 Kilmore Estate Ltd (registered number: SC521229) were approved and authorised for issue by the Director on 23 December 2025. They were signed on its behalf by:

John Fraser 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

Kilmore Estate 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 The Moorings, Allanfearn, Inverness, IV2 7HY, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

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 Statement of Income and Retained Earnings 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.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

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, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, 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	not depreciated
Plant and machinery	20 % reducing balance
Computer equipment	3 years straight line

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 Statement of Income and Retained Earnings.

Fixed asset investments

Investments are recognised 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.

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.

Basic financial assets
Basic financial assets, which include bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

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.

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. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Tangible assets

	Land and buildings		Plant and machinery		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	440,670		4,260		508		445,438
At 31 March 2025	440,670		4,260		508		445,438
Accumulated depreciation
At 01 April 2024	0		710		508		1,218
Charge for the financial year	0		710		0		710
At 31 March 2025	0		1,420		508		1,928
Net book value
At 31 March 2025	440,670		2,840		0		443,510
At 31 March 2024	440,670		3,550		0		444,220

Included within the above is land at the carrying value of £440,670 (2024 - £440,670) which is not depreciated

4. Fixed asset investments

	Listed investments		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 April 2024	14,035		50		14,085
Disposals	( 10,865)		0		( 10,865)
Movement in fair value	4,033		0		4,033
At 31 March 2025	7,203		50		7,253
Carrying value at 31 March 2025	7,203		50		7,253
Carrying value at 31 March 2024	14,035		50		14,085

5. Debtors

	2025		2024
	£		£
Corporation tax	0		17,737
Other debtors	64,958		96,412
	64,958		114,149

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Taxation and social security	263		17,737
Other creditors	21,334		3,449
	21,597		21,186

7. Called-up share capital

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

8. Related party transactions

Transactions with the entity's director

	2025		2024
	£		£
Amounts owed to/(from) director	17,885		(36,854)

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