Company registration number SC339862 (Scotland)
REDWOOD INVERCARSE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
REDWOOD INVERCARSE LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
REDWOOD INVERCARSE LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
6
3,250,810
3,345,876
Current assets
Stocks
27,984
31,220
Debtors
7
176,071
114,039
Cash at bank and in hand
209,317
227,113
413,372
372,372
Creditors: amounts falling due within one year
8
(1,132,896)
(1,431,938)
Net current liabilities
(719,524)
(1,059,566)
Total assets less current liabilities
2,531,286
2,286,310
Provisions for liabilities
(126,727)
(133,442)
Net assets
2,404,559
2,152,868
Capital and reserves
Called up share capital
1,684
1,684
Profit and loss reserves
2,402,875
2,151,184
Total equity
2,404,559
2,152,868

For the financial year ended 31 August 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 profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 March 2026 and are signed on its behalf by:
Mr Sean Burke
Director
Company registration number SC339862 (Scotland)
REDWOOD INVERCARSE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 September 2023
1,684
1,881,073
1,882,757
Year ended 31 August 2024:
Profit and total comprehensive income
-
350,892
350,892
Dividends
-
(80,781)
(80,781)
Balance at 31 August 2024
1,684
2,151,184
2,152,868
Year ended 31 August 2025:
Profit and total comprehensive income
-
331,731
331,731
Dividends
-
(80,040)
(80,040)
Balance at 31 August 2025
1,684
2,402,875
2,404,559
REDWOOD INVERCARSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -
1
Accounting policies
Company information

Redwood Invercarse Limited is a private company limited by shares incorporated in Scotland. The registered office is Stannergate House, 41 Dundee Road West, Broughty Ferry, Dundee, Scotland, DD5 1NB.

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 freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

The turnover represents amounts charged to customers net of returns and allowances (excluding VAT) for

sales of food and beverage items and the use of hotel facilities during the year. Turnover is recognised at

the point of sale.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
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:

Freehold property
2% reducing balance
Fixtures and fittings
33% straight line

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

REDWOOD INVERCARSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
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 balance sheet 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.

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.

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. 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. 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.

1.9
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.

1.10
Taxation

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

REDWOOD INVERCARSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

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 profit and loss account, 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.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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
59
65
REDWOOD INVERCARSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 6 -
4
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
136,408
134,222
Deferred tax
Origination and reversal of timing differences
(6,715)
-
0
Other adjustments
-
0
1,054
Total deferred tax
(6,715)
1,054
Total tax charge
129,693
135,276
5
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2024 and 31 August 2025
128,875
Amortisation
At 1 September 2024 and 31 August 2025
128,875
Carrying amount
At 31 August 2025
-
0
At 31 August 2024
-
0
6
Tangible fixed assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 September 2024
4,465,975
614,669
5,080,644
Additions
-
0
9,666
9,666
At 31 August 2025
4,465,975
624,335
5,090,310
Depreciation and impairment
At 1 September 2024
1,159,924
574,844
1,734,768
Depreciation charged in the year
66,121
38,611
104,732
At 31 August 2025
1,226,045
613,455
1,839,500
Carrying amount
At 31 August 2025
3,239,930
10,880
3,250,810
At 31 August 2024
3,306,051
39,825
3,345,876
REDWOOD INVERCARSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
105,436
59,887
Other debtors
70,635
54,152
176,071
114,039
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
71,008
328,480
Trade creditors
163,194
168,879
Amounts owed to group undertakings
466,300
463,765
Corporation tax
136,408
134,222
Other taxation and social security
154,295
165,445
Other creditors
141,691
171,147
1,132,896
1,431,938

9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
126,727
133,442
2025
Movements in the year:
£
Liability at 1 September 2024
133,442
Credit to profit or loss
(6,715)
Liability at 31 August 2025
126,727

REDWOOD INVERCARSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 8 -
10
Related party transactions

Throughout the year, the company transferred and received funds from related parties and, at the year end, the amount due to be paid to these related parties amounted to £46 6,300 (202 4 - £463,765).

11
Controlling party

The company was under the control of its ultimate parent company Invercarse Hotel Ltd a company incorporated in Scotland and whose registered office is Stannergate House, 41 Dundee Road West, Broughty Ferry, Dundee, Scotland, DD5 1NB.

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