Kastelruth Racing and Breeding Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC221720 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 July 2025

for

Kastelruth Racing and Breeding Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D A Brand

P Brand

SECRETARY:

D A Brand

REGISTERED OFFICE:

6 Logie Mill

Beaverbank Business Park

Edinburgh

Lothian

EH7 4HG

REGISTERED NUMBER:

SC221720 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Investments

4

419,772

423,201

CURRENT ASSETS

Stocks

5

16,500

9,500

Debtors

6

-

100

Cash at bank

6,311

6,152

22,811

15,752

CREDITORS

Amounts falling due within one year

7

728,387

728,500

NET CURRENT LIABILITIES

(705,576

)

(712,748

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

(285,804

)

(289,547

)

PROVISIONS FOR LIABILITIES

8

80,349

74,894

NET LIABILITIES

(366,153

)

(364,441

)

CAPITAL AND RESERVES

Called up share capital

9

2

Retained earnings

(366,155

)

(364,443

)

SHAREHOLDERS' FUNDS

(366,153

)

(364,441

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

D A Brand - Director

1.	STATUTORY INFORMATION

Kastelruth Racing and Breeding Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis, the acceptability of which is dependent on the continued support of the directors.

Turnover

Turnover includes revenue earned from prize winnings and the sales of biological assets. The company is not registered for value added tax.

Stocks

Stocks consist of biological assets which have been measured at fair value. Fair value has been calculated based on the directors' valuation, after making due allowances for obsolete and slow moving items.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. As the exchange rate did not fluctuate significantly during the year, transactions in foreign currency are translated into sterling at the average exchange rate for the year. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investments

Fixed asset investments comprise investments in quoted equity instruments which are measured at fair value. Changes in fair value are recognised in the profit and loss account.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	FIXED ASSET INVESTMENTS

31.7.25

31.7.24

£

Other investments not loans

419,772

423,201

Additional information is as follows:

Other

investments

£

COST OR VALUATION

At 1 August 2024

370,157

Disposals

(12,691

)

Revaluations

26,270

At 31 July 2025

383,736

NET BOOK VALUE

At 31 July 2025

383,736

At 31 July 2024

370,157

The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The cost of the investments at acquisition was £80,534.

Investments (neither listed nor unlisted) were as follows:

31.7.25

31.7.24

£

Current account

36,036

53,044

5.

STOCKS

Reconciliation of the carrying amounts of biological assets (horses):

31.7.25

31.7.24

£

Opening fair value

9,500

16,500

Sales in the year

-

(1,289)

Purchases in the year

-

Movements in fair value

7.000

(5,711)

Closing fair value

16,500

9,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

Trade debtors

-

100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

Other creditors

728,387

728,500

8.	PROVISIONS FOR LIABILITIES

31.7.25

31.7.24

£

Deferred tax

80,349

74,894

Deferred

tax

£

Balance at 1 August 2024

74,894

Provided during year

5,455

Balance at 31 July 2025

80,349

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.25

31.7.24

value:

£

2

Ordinary

£1

2

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 July 2025, the company owed the director £725,207 (2024: £725,470).

11.	RELATED PARTY DISCLOSURES

There were no related party transactions in the year (2024: none).

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D A Brand.