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Company No: SC234845 (Scotland)

# GREENACRE FIELD LTD.

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

GREENACRE FIELD LTD.

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

Contents

GREENACRE FIELD LTD.

## BALANCE SHEET

AS AT 31 MAY 2025
GREENACRE FIELD LTD.

## BALANCE SHEET (continued)

AS AT 31 MAY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
|  |  |  | Restated - note 2
Fixed assets |  |  |  |
Tangible assets | 4 | 1,349 |  | 33,626
Investment property | 5 | 906,128 |  | 842,490
|  | 907,477 |  | 876,116
Current assets |  |  |  |
Stocks | 6 | 130,000 |  | 142,840
Debtors | 7 | 22,090 |  | 23,888
Cash at bank and in hand |  | 32,151 |  | 19,455
|  | 184,241 |  | 186,183
Creditors: amounts falling due within one year | 8 | ( 80,053) |  | ( 103,575)
Net current assets |  | 104,188 |  | 82,608
Total assets less current liabilities |  | 1,011,665 |  | 958,724
Creditors: amounts falling due after more than one year | 9 | ( 240,032) |  | ( 275,516)
Provision for liabilities | 10 | ( 7,180) |  | ( 50)
Net assets |  | 764,453 |  | 683,158
Capital and reserves |  |  |  |
Called-up share capital | 11 | 100 |  | 100
Profit and loss account |  | 764,353 |  | 683,058
Total shareholders' funds |  | 764,453 |  | 683,158

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Greenacre Field Ltd. (registered number: SC234845) were approved and authorised for issue by the Director on 13 April 2026. They were signed on its behalf by:

Charles Milne Director |

GREENACRE FIELD LTD.

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
GREENACRE FIELD LTD.

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 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

Greenacre Field Ltd. (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 119 High Street, Buckie, AB56 4DX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include investment properties and 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 £.

##### Prior year adjustment

Disputed water rates have now been accounted for as an agreement has been reached with the supplier in relation to a settlement amount for the dispute. As a result an accrual of £9,333 has been recorded to increase creditors due within one year by £9,333, and correspondingly retained earnings have been decreased by £9,333.

##### 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.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank and in hand.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 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 when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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.
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. Amounts 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.

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 fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Prior year adjustment

Below is a summary of the impact of the prior year adjustment explained in note 1 within accounting policies.

|  | As previously reported |  | Adjustment |  | As restated
Year ended 31 May 2024 |  | £ |  | £ |  | £
Retained earnings |  | (692,391) |  | 9,333 |  | (683,058)
Other creditors due within one year |  | (14,214) |  | (9,333) |  | (23,547)

#### 3. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 1 |  | 1

#### 4. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 June 2024 | 33,901 |  | 33,901
Additions | 1,415 |  | 1,415
Transfers | ( 33,901) |  | ( 33,901)
At 31 May 2025 | 1,415 |  | 1,415
Accumulated depreciation |  |  |
At 01 June 2024 | 275 |  | 275
Charge for the financial year | 66 |  | 66
Transfers | ( 275) |  | ( 275)
At 31 May 2025 | 66 |  | 66
Net book value |  |  |
At 31 May 2025 | 1,349 |  | 1,349
At 31 May 2024 | 33,626 |  | 33,626

#### 5. Investment property

| Investment property
| £
Valuation |
As at 01 June 2024 | 842,490
Additions | 29,737
Transfers to and from property, plant and equipment | 33,901
As at 31 May 2025 | 906,128

Investment properties with a cost of £906,128 (2024 - £842,490) were valued on an open market basis by the directors on 31 May 2025.

#### 6. Stocks

| 2025 |  | 2024
| £ |  | £
Work in progress | 130,000 |  | 142,840

#### 7. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 15,826 |  | 14,907
Corporation tax | 1,882 |  | 0
Other debtors | 4,382 |  | 8,981
| 22,090 |  | 23,888

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 10,484 |  | 10,224
Trade creditors | 39,352 |  | 69,804
Taxation and social security | 6,448 |  | 0
Other creditors | 23,769 |  | 23,547
| 80,053 |  | 103,575

The bank loan consists of a Coronavirus Bounce Back loan of £10,484 (2024 - £10,224) which is guaranteed by the UK government.

#### 9. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 882 |  | 11,366
Other creditors | 239,150 |  | 264,150
| 240,032 |  | 275,516

The bank loan consists of a Coronavirus Bounce Back loan of £882 (2024 - £11,366) which is guaranteed by the UK Government.

#### 10. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 7,180 |  | 50

#### 11. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 12. Related party transactions

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

| 2025 |  | 2024
| £ |  | £
Amounts due to other related parties | (273,444) |  | (312,469)
Amounts due from other related parties | 6,260 |  | 8,797

Other related parties represent entities over which the directors have control or significant influence or entities controlled by an immediate family member.

The above loans are unsecured, interest free and have no fixed terms of repayment.