Company registration number SC700030 (Scotland)
Black Sheep Adventures Limited
Financial Statements
For the year ended 31 March 2025
BLACK SHEEP ADVENTURES LIMITED
CONTENTS
Page
Balance Sheet
1
Notes to the financial statements
2 - 6
BLACK SHEEP ADVENTURES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
29,110
35,826
29,110
35,826
Current assets
Debtors
4
15,503
7,812
Cash at bank and in hand
14,342
7,177
29,845
14,989
Creditors: amounts falling due within one year
5
(275,021)
(201,859)
Net current liabilities
(245,176)
(186,870)
Net liabilities
(216,066)
(151,044)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(216,166)
(151,144)
Total equity
(216,066)
(151,044)

The notes form part of these financial statements.

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

The financial statements were approved by the board of directors and authorised for issue on 4 February 2026 and are signed on its behalf by:
Mrs Sharon Machado
Director
Company registration number SC700030 (Scotland)
BLACK SHEEP ADVENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

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

1.1
Basis of preparation

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”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The financial statement have been prepared under the historic cost convention.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

1.2
Going concern

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

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Plant and equipment
5 years on a straight line basis
Fixtures and fittings
5 years on a straight line basis
1.4
Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to insignificant risk of change in value.

1.5
Financial instruments

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.

BLACK SHEEP ADVENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Fair value measurement of financial instruments

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 a payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not market rate or in case of an outright short term loan not at 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.

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.

Impairment of financial assets

Financial ass e ts that are measured at cost and amortised cost 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 assets carrying amount and the present value of estimated cash flows, discounted at the asset's original effective interest rate. If 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 and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets 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.

BLACK SHEEP ADVENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
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 be e n enacted or substantively enacted by the year end and that are expected to apply to the reversal of 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.

1.7
Provisions

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 month s 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 recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

1.8

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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 4, 2024: 4. The directors are not remunerated through this entity.

2025
2024
Number
Number
Total
4
4
BLACK SHEEP ADVENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2024
38,368
4,064
42,432
Additions
1,761
321
2,082
At 31 March 2025
40,129
4,385
44,514
Depreciation and impairment
At 1 April 2024
5,996
610
6,606
Depreciation charged in the year
7,927
871
8,798
At 31 March 2025
13,923
1,481
15,404
Carrying amount
At 31 March 2025
26,206
2,904
29,110
At 31 March 2024
32,372
3,454
35,826
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
14,466
6,693
Other debtors
1,037
1,119
15,503
7,812
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
959
1,597
Amounts owed to group undertakings
268,239
191,500
Taxation and social security
1,264
2,724
Other creditors
3,259
-
0
Accruals and deferred income
1,300
6,038
275,021
201,859
6
Audit report information

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:

BLACK SHEEP ADVENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
6
Audit report information
(Continued)
- 6 -
Opinion

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.

Senior Statutory Auditor:
Bhavita Shah ACA
Statutory Auditor:
KNAV
Date of audit report:
4 February 2026
7
Related Party Transactions

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 £267,500 (2024: £191,500) 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 £nil (2024: £716) by Mars Hospitality (UK) Ltd. The company owed Mars Hospitality (UK) Ltd £739 (2024: £nil) for expenses paid on their behalf.

The company was owed £14,466 (2024 £5,977) by Black Sheep Management Services Limited a fellow subsidiary for expenses paid on their behalf.

8
Parent company

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.

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