Silverfin false false 31/12/2025 01/01/2025 31/12/2025 Caroline Clayton 11/02/2016 George Fraser 02/06/2009 David Sutherland 25/06/2008 07 April 2026 no description of principal activity SC343490 2025-12-31 SC343490 bus:Director1 2025-12-31 SC343490 bus:Director2 2025-12-31 SC343490 bus:Director3 2025-12-31 SC343490 2024-12-31 SC343490 core:CurrentFinancialInstruments 2025-12-31 SC343490 core:CurrentFinancialInstruments 2024-12-31 SC343490 core:ShareCapital 2025-12-31 SC343490 core:ShareCapital 2024-12-31 SC343490 core:RetainedEarningsAccumulatedLosses 2025-12-31 SC343490 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC343490 core:CostValuation 2024-12-31 SC343490 core:DisposalsRepaymentsInvestments 2025-12-31 SC343490 core:CostValuation 2025-12-31 SC343490 bus:OrdinaryShareClass1 2025-12-31 SC343490 bus:OrdinaryShareClass2 2025-12-31 SC343490 bus:PreferenceShareClass1 2025-12-31 SC343490 2025-01-01 2025-12-31 SC343490 bus:FilletedAccounts 2025-01-01 2025-12-31 SC343490 bus:SmallEntities 2025-01-01 2025-12-31 SC343490 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 SC343490 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 SC343490 bus:Director1 2025-01-01 2025-12-31 SC343490 bus:Director2 2025-01-01 2025-12-31 SC343490 bus:Director3 2025-01-01 2025-12-31 SC343490 2024-01-01 2024-12-31 SC343490 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 SC343490 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC343490 bus:OrdinaryShareClass2 2025-01-01 2025-12-31 SC343490 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 SC343490 bus:PreferenceShareClass1 2025-01-01 2025-12-31 SC343490 bus:PreferenceShareClass1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC343490 (Scotland)

# DORNOCH DEVELOPMENTS LIMITED

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

DORNOCH DEVELOPMENTS LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025

Contents

DORNOCH DEVELOPMENTS LIMITED

## BALANCE SHEET

AS AT 31 DECEMBER 2025
DORNOCH DEVELOPMENTS LIMITED

## BALANCE SHEET (continued)

AS AT 31 DECEMBER 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 3 | 100 |  | 102
|  | 100 |  | 102
Current assets |  |  |  |
Debtors | 4 | 1,698,236 |  | 1,953,874
Cash at bank and in hand |  | 118,663 |  | 11,176
|  | 1,816,899 |  | 1,965,050
Creditors: amounts falling due within one year | 5 | ( 3,033,474) |  | ( 3,248,379)
Net current liabilities |  | (1,216,575) |  | (1,283,329)
Total assets less current liabilities |  | (1,216,475) |  | (1,283,227)
Net liabilities |  | ( 1,216,475) |  | ( 1,283,227)
Capital and reserves |  |  |  |
Called-up share capital | 6 | 196,000 |  | 196,000
Profit and loss account |  | ( 1,412,475 ) |  | ( 1,479,227 )
Total shareholders' deficit |  | ( 1,216,475) |  | ( 1,283,227)

For the financial year ending 31 December 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 Profit and Loss Account has not been delivered.

The financial statements of Dornoch Developments Limited (registered number: SC343490) were approved and authorised for issue by the Board of Directors on 07 April 2026. They were signed on its behalf by:

David Sutherland Director |

DORNOCH DEVELOPMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025
DORNOCH DEVELOPMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 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

Dornoch Developments 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 Oldtown Of Leys House, Culduthel, Inverness, IV2 6AE, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 £.

##### Going concern

Although the financial statements have a net liabilities of £1,216,475 they have been prepared on the going concern basis as the directors consider it appropriate to do so. The directors have assessed the balance sheet and likely future cash flows at the date of approving these financial statements. The company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for the next 12 months from the date of signing these financial statements and the directors will continue to support the company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements.
Accordingly, the directors have agreed to financially support the company to ensure that all liabilities are met as they fall due, and they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Impairment of assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial 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 Profit and Loss Account as described below.
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

##### Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

##### 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.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled.

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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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 proceeds received, net of direct issue costs.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 3 |  | 3

#### 3. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 January 2025 | 102 |  | 102
Disposals | ( 2) |  | ( 2)
At 31 December 2025 | 100 |  | 100
Carrying value at 31 December 2025 | 100 |  | 100
Carrying value at 31 December 2024 | 102 |  | 102

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 162 |  | 230
Other debtors | 1,698,074 |  | 1,953,644
| 1,698,236 |  | 1,953,874

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

| 2025 |  | 2024
| £ |  | £
Trade creditors | 6,648 |  | 41
Other creditors | 3,026,826 |  | 3,248,338
| 3,033,474 |  | 3,248,379

#### 6. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
501 A ordinary shares of £ 1.00 each | 501 |  | 501
499 B ordinary shares of £ 1.00 each | 499 |  | 499
| 1,000 |  | 1,000
195,000 Preference shares of £ 1.00 each | 195,000 |  | 195,000
| 196,000 |  | 196,000

#### 7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

| 2025 |  | 2024
| £ |  | £
Amounts due from companies holding participating interest | 1,944,936 |  | 1,953,177

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Amounts owed to key management personnel | 1,104,619 |  | 1,325,619

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts due to other related parties | 1,919,331 |  | 1,919,400

Other related parties represent other entities owned by certain directors.

These balances are interest free and have no fixed terms for repayment. No security has been provided on any balances.