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REGISTERED NUMBER: SC105473 (Scotland)

Financial Statements for the Year Ended 30 June 2025

for

Seafield Motors (Inverness) Limited

Seafield Motors (Inverness) Limited (Registered number: SC105473)

Contents of the Financial Statements

for the Year Ended 30 June 2025

Page |

Company Information | 1 |

Abridged Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Seafield Motors (Inverness) Limited

Company Information

for the Year Ended 30 June 2025

| DIRECTORS: | W F MacMillan

| I MacMillan

| W A MacMillan

| SECRETARY: | Mrs L MacMilllan

| REGISTERED OFFICE: | 45 Harbour Road

| Inverness

| Highland

| IV1 1UF

| REGISTERED NUMBER: | SC105473 (Scotland)

| ACCOUNTANTS: | Highland Accountancy Practice

| Chartered Accountants

| Suite 1A, Willow House

| Stoneyfield Business Park

| Inverness

| Highland

| IV2 7PA

Seafield Motors (Inverness) Limited (Registered number: SC105473)

Abridged Balance Sheet

30 June 2025

| 30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,131,397 |  | 1,160,011 |  |

Investment property | 5 | 1,500,000 |  | 1,500,000 |  |

2,631,397 |  | 2,660,011 |  |

CURRENT ASSETS

Stocks | 1,585,620 |  | 2,140,068 |  |

Debtors | 215,368 |  | 224,851 |  |

Cash at bank and in hand | 1,306,176 |  | 834,261 |  |

3,107,164 |  | 3,199,180 |  |

CREDITORS

Amounts falling due within one year | 328,119 |  | 318,873 |  |

NET CURRENT ASSETS | 2,779,045 |  | 2,880,307 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,410,442 |  | 5,540,318 |  |

PROVISIONS FOR LIABILITIES | 189,505 |  | 189,505 |  |

NET ASSETS | 5,220,937 |  | 5,350,813 |  |

CAPITAL AND RESERVES

Called up share capital | 47,996 |  | 47,996 |  |

Other Reserves | 640,708 |  | 640,708 |  |

Retained earnings | 4,532,233 |  | 4,662,109 |  |

SHAREHOLDERS' FUNDS | 5,220,937 |  | 5,350,813 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Seafield Motors (Inverness) Limited (Registered number: SC105473)

Abridged Balance Sheet - continued

30 June 2025

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2026 and were signed on its behalf by:

W F MacMillan - Director

Seafield Motors (Inverness) Limited (Registered number: SC105473)

Notes to the Financial Statements

for the Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| Seafield Motors (Inverness) 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.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Freehold Property | - | 2% on cost of Buildings

| Long Leasehold | - | Over the period of the lease

| Plant and Machinery | - | 20% on reducing balance

| Fixtures and Fittings | - | 20% on reducing balance

| Motor Vehicles | - | 25% on reducing balance

| Computer Equipment | - | 20% on cost

| Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation, impairment losses, and reversals of impairment losses (where applicable).

| Investment property

| Investment property is carried at fair value determined annually by either external valuers or the directors and derived from the current market rents and investment property yields for comparative real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. The latest external valuation was undertaken as at 30 June 2024. No depreciation is provided and changes in fair value are recognised in the Income Statement.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Seafield Motors (Inverness) Limited (Registered number: SC105473)

Notes to the Financial Statements - continued

for the Year Ended 30 June 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.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 14 (2024 - 14 ) .

4. | TANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 July 2024

| and 30 June 2025 | 1,474,308 |  |

| DEPRECIATION

| At 1 July 2024 | 314,297 |  |

| Charge for year | 28,614 |  |

| At 30 June 2025 | 342,911 |  |

| NET BOOK VALUE

| At 30 June 2025 | 1,131,397 |  |

| At 30 June 2024 | 1,160,011 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 July 2024

| and 30 June 2025 | 1,500,000 |  |

| NET BOOK VALUE

| At 30 June 2025 | 1,500,000 |  |

| At 30 June 2024 | 1,500,000 |  |

Seafield Motors (Inverness) Limited (Registered number: SC105473)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

5. | INVESTMENT PROPERTY - continued

| Fair value at 30 June 2025 is represented by:

£ |

| Valuation in 2014 | 25,213 |  |

| Valuation in 2015 | (10,000 | ) |

| Valuation in 2022 | 720,000 |  |

| Valuation in 2024 | 95,000 |  |

| Cost | 669,787 |  |

1,500,000 |  |

| If investment properties had not been revalued they would have been included at the following historical cost:

| 30.6.25 |  | 30.6.24

£ | £ |

| Cost | 669,787 |  | 669,787 |  |

| The investment properties were valued on a fair value basis on 30 June 2024 by Grant Stewart Chartered Surveyors .