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REGISTERED NUMBER: SC731434 (Scotland)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MAY 2025 |

| FOR |

| HIGHLAND BRAVE LTD |

HIGHLAND BRAVE LTD (REGISTERED NUMBER: SC731434)

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 May 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

HIGHLAND BRAVE LTD

COMPANY INFORMATION

for the year ended 31 May 2025

| DIRECTOR: | S Mulhearn

| REGISTERED OFFICE: | Birchwood House Duncraggan Road

| Brig O'Turk

| Callander

| FK17 8HS

| REGISTERED NUMBER: | SC731434 (Scotland)

| ACCOUNTANTS: | S&W Partners (Scotland) Limited

| Q Court

| 3 Quality Street

| Edinburgh

| EH4 5BP

HIGHLAND BRAVE LTD (REGISTERED NUMBER: SC731434)

BALANCE SHEET

31 May 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 4 | 100 |  | 100 |  |

Cash at bank | 25,313 |  | 26,190 |  |

25,413 |  | 26,290 |  |

CREDITORS

Amounts falling due within one year | 5 | (36,130 | ) | (36,210 | ) |

NET CURRENT LIABILITIES | (10,717 | ) | (9,920 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (10,717 | ) | (9,920 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | (10,817 | ) | (10,020 | ) |

(10,717 | ) | (9,920 | ) |

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

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

The director acknowledges his 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 director and authorised for issue on 13 February 2026 and were signed by:

S Mulhearn - Director

HIGHLAND BRAVE LTD (REGISTERED NUMBER: SC731434)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 May 2025

1. | STATUTORY INFORMATION

| Highland Brave Ltd 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| At 31 May 2025 the company had liabilities exceeding assets by £10,717 (2024 - £9,920) and relies on the support of donors to finance its working capital requirements. The director considers it appropriate to prepare the financial statements on the going concern basis as they expect that this support will continue for the foreseeable future.

| FINANCIAL INSTRUMENTS

| The Company only enters into basic financial instrument 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 to related parties.

| Short-term debt instruments, including loans and other accounts receivable and payable, 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 debtors and creditors, 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 or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at 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.

| Financial assets 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 and loss account. For financial assets measured at 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 financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| 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.

HIGHLAND BRAVE LTD (REGISTERED NUMBER: SC731434)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 May 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| DONATIONS

| Donations received towards the costs of film production have been deferred as income in advance until production commences.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 1 ) .

4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 100 |  | 100 |  |

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other creditors | 36,130 |  | 36,210 |  |