Company registration number SC176228 (Scotland)
Falkland Wool Growers Limited
Unaudited Financial Statements
For the year ended 30 November 2025
Falkland Wool Growers Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
Falkland Wool Growers Limited
Statement of financial position
As at 30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
1,095
1,167
Investments
6
2,917
1,985
4,012
3,152
Current assets
Debtors
7
86,525
65,356
Cash at bank and in hand
300,723
323,253
387,248
388,609
Creditors: amounts falling due within one year
8
(38,380)
(28,068)
Net current assets
348,868
360,541
Net assets
352,880
363,693
Capital and reserves
Called up share capital
100
100
Fair value reserve
9
(668)
(1,600)
Retained earnings
353,448
365,193
Total equity
352,880
363,693

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question 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.

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 income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 2 March 2026 and are signed on its behalf by:
Mr R H B Hall
Director
Company registration number SC176228 (Scotland)
Falkland Wool Growers Limited
Notes to the financial statements
For the year ended 30 November 2025
- 2 -
1
Accounting policies
Company information

Falkland Wool Growers Limited is a private company limited by shares incorporated in Scotland. The registered office is Craiglearan, Moniaive, Thornhill, Dumfriesshire, DG3 4JD.

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover represents commissions receivable as agents for the sale of Falkland Islands wool and fees for providing services and supplies for Falkland farmers.

1.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on cost
Computers
20% on cost

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.

1.4
Fixed asset investments

Fixed asset investments are publicly traded ordinary shares that are measured at fair value.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Falkland Wool Growers Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
1
Accounting policies
(Continued)
- 3 -
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.

Investments in publicly traded non-convertible preference shares and non-puttable ordinary shares or preference shares are measured at fair value with changes in fair value recognised in profit or loss for the accounting period.

Classification of financial liabilities

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 liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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 paymen ts discounted at a market rate of interest.

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. A m ounts 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Falkland Wool Growers Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
1
Accounting policies
(Continued)
- 4 -

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

The company makes contributions to the directors' private pension scheme. These are charged to the profit and loss account in the period to which they relate.

1.9
Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
4
Taxation
2025
2024
£
£
Deferred tax
Tax losses carried forward
(20,500)
-
0
Falkland Wool Growers Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
- 5 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2024
2,789
Additions
240
Disposals
(475)
At 30 November 2025
2,554
Depreciation and impairment
At 1 December 2024
1,622
Depreciation charged in the year
312
Eliminated in respect of disposals
(475)
At 30 November 2025
1,459
Carrying amount
At 30 November 2025
1,095
At 30 November 2024
1,167
6
Fixed asset investments
2025
2024
£
£
Other investments other than loans
2,917
1,985
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 December 2024
1,985
Valuation changes
932
At 30 November 2025
2,917
Carrying amount
At 30 November 2025
2,917
At 30 November 2024
1,985
Falkland Wool Growers Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
- 6 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
30,956
46,353
Other debtors
31,831
9,618
62,787
55,971
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
3,238
9,385
Deferred tax asset
20,500
-
0
23,738
9,385
Total debtors
86,525
65,356
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
7,237
1,430
Taxation and social security
-
0
5,339
Other creditors
31,143
21,299
38,380
28,068
9
Fair value reserve
2025
2024
£
£
At the beginning of the year
(1,600)
(1,289)
Non distributable profits in the year
932
(311)
At the end of the year
(668)
(1,600)

The fair value reserve relates to the fair value revaluations of fixed asset investments.

This reserve is not distributable.

Falkland Wool Growers Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
- 7 -
10
Related party transactions

At the balance sheet date, there was a balance due to the directors of £15,168 (2024 - £5,464)

The company pays annual rent of £1 for the use of premises which are owned by Mr R H B Hall.

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