Silverfin false false 31/05/2025 01/06/2024 31/05/2025 Margaret Watt Anderson Neil Ronald Anderson 19/04/2023 Ronald Taylor Anderson 11/07/2000 13 February 2026 The principal activity of the company continued to be that of farming. SC035318 2025-05-31 SC035318 bus:Director2 2025-05-31 SC035318 bus:Director3 2025-05-31 SC035318 2024-05-31 SC035318 core:CurrentFinancialInstruments 2025-05-31 SC035318 core:CurrentFinancialInstruments 2024-05-31 SC035318 core:Non-currentFinancialInstruments 2025-05-31 SC035318 core:Non-currentFinancialInstruments 2024-05-31 SC035318 core:ShareCapital 2025-05-31 SC035318 core:ShareCapital 2024-05-31 SC035318 core:CapitalRedemptionReserve 2025-05-31 SC035318 core:CapitalRedemptionReserve 2024-05-31 SC035318 core:OtherCapitalReserve 2025-05-31 SC035318 core:OtherCapitalReserve 2024-05-31 SC035318 core:RetainedEarningsAccumulatedLosses 2025-05-31 SC035318 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC035318 core:LandBuildings 2024-05-31 SC035318 core:PlantMachinery 2024-05-31 SC035318 core:Vehicles 2024-05-31 SC035318 core:ComputerEquipment 2024-05-31 SC035318 core:OtherPropertyPlantEquipment 2024-05-31 SC035318 core:LandBuildings 2025-05-31 SC035318 core:PlantMachinery 2025-05-31 SC035318 core:Vehicles 2025-05-31 SC035318 core:ComputerEquipment 2025-05-31 SC035318 core:OtherPropertyPlantEquipment 2025-05-31 SC035318 core:BearerBiologicalAssetClass1 2024-05-31 SC035318 core:BearerBiologicalAssetClass1 2025-05-31 SC035318 5 2025-05-31 SC035318 5 2024-05-31 SC035318 6 2025-05-31 SC035318 6 2024-05-31 SC035318 core:UnlistedNon-exchangeTraded core:WithinOneYear 2025-05-31 SC035318 core:UnlistedNon-exchangeTraded core:WithinOneYear 2024-05-31 SC035318 2023-05-31 SC035318 bus:OrdinaryShareClass1 2025-05-31 SC035318 bus:OrdinaryShareClass2 2025-05-31 SC035318 bus:OrdinaryShareClass3 2025-05-31 SC035318 2024-06-01 2025-05-31 SC035318 bus:FilletedAccounts 2024-06-01 2025-05-31 SC035318 bus:SmallEntities 2024-06-01 2025-05-31 SC035318 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 SC035318 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 SC035318 bus:Director1 2024-06-01 2025-05-31 SC035318 bus:Director2 2024-06-01 2025-05-31 SC035318 bus:Director3 2024-06-01 2025-05-31 SC035318 core:PlantMachinery 2024-06-01 2025-05-31 SC035318 core:Vehicles 2024-06-01 2025-05-31 SC035318 core:ComputerEquipment 2024-06-01 2025-05-31 SC035318 core:OtherPropertyPlantEquipment core:BottomRangeValue 2024-06-01 2025-05-31 SC035318 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-06-01 2025-05-31 SC035318 2023-06-01 2024-05-31 SC035318 core:LandBuildings 2024-06-01 2025-05-31 SC035318 core:OtherPropertyPlantEquipment 2024-06-01 2025-05-31 SC035318 core:LandBuildings 1 2024-06-01 2025-05-31 SC035318 core:PlantMachinery 1 2024-06-01 2025-05-31 SC035318 core:Vehicles 1 2024-06-01 2025-05-31 SC035318 core:ComputerEquipment 1 2024-06-01 2025-05-31 SC035318 core:OtherPropertyPlantEquipment 1 2024-06-01 2025-05-31 SC035318 1 2024-06-01 2025-05-31 SC035318 core:BearerBiologicalAssetClass1 2024-06-01 2025-05-31 SC035318 core:CurrentFinancialInstruments 2024-06-01 2025-05-31 SC035318 core:Non-currentFinancialInstruments 2024-06-01 2025-05-31 SC035318 bus:OrdinaryShareClass1 2024-06-01 2025-05-31 SC035318 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 SC035318 bus:OrdinaryShareClass2 2024-06-01 2025-05-31 SC035318 bus:OrdinaryShareClass2 2023-06-01 2024-05-31 SC035318 bus:OrdinaryShareClass3 2024-06-01 2025-05-31 SC035318 bus:OrdinaryShareClass3 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC035318 (Scotland)

# WATT TAYLOR LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH THE REGISTRAR

WATT TAYLOR LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

Contents

WATT TAYLOR LIMITED

## BALANCE SHEET

AS AT 31 MAY 2025
WATT TAYLOR LIMITED

## BALANCE SHEET (continued)

AS AT 31 MAY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 2,126,128 |  | 2,179,394
Biological assets | 4 | 180,691 |  | 171,996
|  | 2,306,819 |  | 2,351,390
Current assets |  |  |  |
Stocks | 5 | 1,561,350 |  | 1,267,657
Debtors | 6 | 139,510 |  | 85,572
Investments | 7 | 2,741 |  | 2,741
Cash at bank and in hand |  | 0 |  | 22,807
|  | 1,703,601 |  | 1,378,777
Creditors: amounts falling due within one year | 8 | ( 1,276,348) |  | ( 1,029,867)
Net current assets |  | 427,253 |  | 348,910
Total assets less current liabilities |  | 2,734,072 |  | 2,700,300
Creditors: amounts falling due after more than one year | 9 | ( 15,951) |  | ( 66,038)
Provision for liabilities | 10, 11 | ( 109,087) |  | ( 120,521)
Net assets |  | 2,609,034 |  | 2,513,741
Capital and reserves |  |  |  |
Called-up share capital | 12 | 39,506 |  | 39,506
Capital redemption reserve |  | 35,510 |  | 35,510
Other reserves |  | 167,685 |  | 167,685
Profit and loss account |  | 2,366,333 |  | 2,271,040
Total shareholders' funds |  | 2,609,034 |  | 2,513,741

For the financial year ending 31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Watt Taylor Limited (registered number: SC035318) were approved and authorised for issue by the Board of Directors on 13 February 2026. They were signed on its behalf by:

Neil Ronald Anderson Director |

WATT TAYLOR LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
WATT TAYLOR LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

##### 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

Watt Taylor 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 Philorth, Fraserburgh, AB43 8TT, United Kingdom.
The financial statements have been prepared under the historical cost convention 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 £.
Basic payment entitlements are government grants and for qualifying businesses these entitlements would have been granted automatically on 1 January 2015. In accordance with FRS 102, an asset is defined as a resource controlled by an entity as a result of past events and from which future economic benefits are expected to flow to the entity. In the opinion of the directors, recognising such entitlements as an asset could be misleading as the control is conditional and not absolute. As a result, granted entitlements have not been recognised because it leads to a better understanding of the company's financial statements.

##### 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.

##### Turnover

Turnover represents amounts receivable for agricultural goods net of VAT including livestock, cereals and forage. Turnover is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) and is recognised on an accruals basis.

##### Employee benefits

Short term benefits
The cost of short-term employee benefits are recognised as a liability and as an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### 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:

Land and buildings | not depreciated
Plant and machinery | 20 - 25 % reducing balance
Vehicles | 25 % reducing balance
Computer equipment | 25 % reducing balance
Other property, plant and equipment | 20 - 50 years straight line

Land and buildings are not depreciation as residual value exceeds cost.
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.

##### Biological assets

The company breeds sheep and grow cereal crops to sell the agricultural produce harvested from such animals and plants. In accordance with FRS102, these are defined as biological assets with the breeding animals included within fixed assets and the remainder of the livestock and cereal crops included within stock.
Biological assets are recognised only when the entity has control of the asset as a result of past events, it is probable that future economic benefits associated with the asset will flow to the entity; and the fair value or cost of the asset can be measured reliably.
The company measures biological assets at cost less accumulated depreciation and accumulated impairment losses. The company does not depreciate livestock as the residual value is deemed to be more than the costs noted at the year end.
In respect of agriculture harvested from a biological assets, this is measured at the point of harvest at either the lower of cost and estimated selling price less costs to complete and sell; or fair value less costs to sell with any gain or loss arising on initial recognition of agriculture produce at fair value less costs to sell being included in profit or loss. All such items are included within stock.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### 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 as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials and direct labour based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Stock includes biological assets in the form of livestock which are expected to be converted to cash or a cash equivalent within the next 12 months. Biological assets are measured at cost less accumulated impairment losses.

##### 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 measured at transaction price including transaction costs.

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 and bank loans 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.

##### Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

##### 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. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 7 |  | 7

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Computer equipment |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 June 2024 | 1,591,054 |  | 1,696,702 |  | 76,335 |  | 10,051 |  | 134,874 |  | 3,509,016
Additions | 0 |  | 24,534 |  | 93,300 |  | 0 |  | 0 |  | 117,834
Disposals | 0 |  | ( 102,745) |  | 0 |  | 0 |  | 0 |  | ( 102,745)
Adjustment | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
At 31 May 2025 | 1,591,054 |  | 1,618,491 |  | 169,635 |  | 10,051 |  | 134,874 |  | 3,524,105
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 June 2024 | 4,345 |  | 1,234,627 |  | 66,428 |  | 9,641 |  | 14,581 |  | 1,329,622
Charge for the financial year | 0 |  | 93,217 |  | 5,804 |  | 102 |  | 2,959 |  | 102,082
Disposals | 0 |  | ( 33,727) |  | 0 |  | 0 |  | 0 |  | ( 33,727)
At 31 May 2025 | 4,345 |  | 1,294,117 |  | 72,232 |  | 9,743 |  | 17,540 |  | 1,397,977
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 May 2025 | 1,586,709 |  | 324,374 |  | 97,403 |  | 308 |  | 117,334 |  | 2,126,128
At 31 May 2024 | 1,586,709 |  | 462,075 |  | 9,907 |  | 410 |  | 120,293 |  | 2,179,394

#### 4. Biological assets

| 2025
| £
Biological assets at cost | 180,691

Assets held at cost:

| Sheep |  | Total
| £ |  | £
Cost |  |  |
At 01 June 2024 | 232,618 |  | 232,618
Increase due to purchases/ transfers in | 14,607 |  | 14,607
Decrease attributable to sales/ transfers out | ( 11,090) |  | ( 11,090)
At 31 May 2025 | 236,135 |  | 236,135
Accumulated depreciation |  |  |
At 01 June 2024 | 60,622 |  | 60,622
Decrease attributable to sales/ transfers out | ( 5,178) |  | ( 5,178)
At 31 May 2025 | 55,444 |  | 55,444
Net book value |  |  |
At 31 May 2025 | 180,691 |  | 180,691
At 31 May 2024 | 171,996 |  | 171,996

#### 5. Stocks

| 2025 |  | 2024
| £ |  | £
Livestock | 1,374,350 |  | 1,065,250
Crops | 175,000 |  | 192,407
Other stock | 12,000 |  | 10,000
| 1,561,350 |  | 1,267,657

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 93,922 |  | 42,591
Corporation tax | 12,157 |  | 0
Other debtors | 33,431 |  | 42,981
| 139,510 |  | 85,572

#### 7. Current asset investments

| 2025 |  | 2024
| £ |  | £
Other investments – at cost less impairment | 2,741 |  | 2,741

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans and overdrafts | 295,705 |  | 10,000
Trade creditors | 156,098 |  | 141,406
Taxation and social security | 45,302 |  | 42,574
Obligations under finance leases and hire purchase contracts | 97,539 |  | 89,080
Other creditors | 681,704 |  | 746,807
| 1,276,348 |  | 1,029,867

Obligations under finance lease agreements are secured over the assets to which they relate.
The bank loan is secured by government guarantee.
The bank overdraft is secured by a standard charge over the Company's assets.

#### 9. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 834 |  | 10,833
Obligations under finance leases and hire purchase contracts | 15,117 |  | 55,205
| 15,951 |  | 66,038

Obligations under finance lease agreements are secured over the assets to which they relate.
The bank loan is secured by government guarantee.

#### 10. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 109,087 |  | 120,521

#### 11. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 120,521) |  | ( 93,577)
Credited/(charged) to the Statement of Income and Retained Earnings | 11,434 |  | ( 26,944)
At the end of financial year | ( 109,087) |  | ( 120,521)

#### 12. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
14,500 Ordinary A shares of £ 1.00 each | 14,500 |  | 14,500
100,000 Ordinary B shares of £ 0.25 each | 25,000 |  | 25,000
6 Ordinary C shares of £ 1.00 each | 6 |  | 6
| 39,506 |  | 39,506

#### 13. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Key management personnel | 644,399 |  | 733,620