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REGISTERED NUMBER: SC210987 (Scotland)

| Gourdie Farm Associates Ltd. |

| Unaudited Financial Statements |

| for the Year Ended 30 September 2025 |

| Gourdie Farm Associates Ltd. (Registered number: SC210987) |

Contents of the Financial Statements

for the Year Ended 30 September 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Gourdie Farm Associates Ltd. |

Company Information

for the Year Ended 30 September 2025

| DIRECTOR: | Mr P C T Yu

| SECRETARY: | Mrs M L C T Yu

| REGISTERED OFFICE: | 9 Ainslie Place

| Edinburgh

| EH3 6AT

| REGISTERED NUMBER: | SC210987 (Scotland)

| ACCOUNTANTS: | Whitelaw Wells

| 9 Ainslie Place

| Edinburgh

| Midlothian

| EH3 6AT

| BANKERS: | Bank of Scotland

| 65-69 Murraygate

| Dundee

| DD1 2EA

| Gourdie Farm Associates Ltd. (Registered number: SC210987) |

Balance Sheet

30 September 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 346 |  | 346 |  |

Tangible assets | 5 | 13,145 |  | - |  |

13,491 |  | 346 |  |

CURRENT ASSETS

Stocks | 5,000 |  | 57,000 |  |

Debtors | 6 | 11,957 |  | 119,785 |  |

Cash at bank and in hand | 375,234 |  | 232,223 |  |

392,191 |  | 409,008 |  |

CREDITORS

Amounts falling due within one year | 7 | 28,056 |  | 75,873 |  |

NET CURRENT ASSETS | 364,135 |  | 333,135 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 377,626 |  | 333,481 |  |

PROVISIONS FOR LIABILITIES | 2,498 |  | - |  |

NET ASSETS | 375,128 |  | 333,481 |  |

| Gourdie Farm Associates Ltd. (Registered number: SC210987) |

Balance Sheet - continued

30 September 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 375,028 |  | 333,381 |  |

SHAREHOLDERS' FUNDS | 375,128 |  | 333,481 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

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

The financial statements were approved by the director and authorised for issue on 14 April 2026 and were signed by:

Mr P C T Yu - Director

| Gourdie Farm Associates Ltd. (Registered number: SC210987) |

Notes to the Financial Statements

for the Year Ended 30 September 2025

1. | STATUTORY INFORMATION

| Gourdie Farm Associates Ltd. 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.

| Turnover and revenue recognition

| Turnover represents net invoices sale of deer by-products, excluding value added tax.

| Turnover, which is stated at selling price (including delivery charges), net of VAT, is recognised at the point when the goods are delivered to the customer.

| Intangible assets

| Intangible assets are initially recognised at cost and subsequently measured at cost less impairments. No amortization has been applied as the asset is not expected to reduce in value for the foreseeable future.

| Tangible fixed assets

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

| Land and buildings | - | 5% on cost

| Plant and machinery etc | - | 25% on cost and 20% on cost

| Stocks

| Inventories are valued at the lower of cost and estimated selling price less costs to sell, after make due allowances for obsolete and slow moving items.

| Financial instruments

| Financial instruments comprise financial assets and financial liabilities which are recognised when the company become a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS 102 and are accounted for at amortised cost using the effective interest method.The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

| Financial assets at cost compromise bank and other debtors. Financial liabilities compromise trade creditors, accruals and other creditors.

| Gourdie Farm Associates Ltd. (Registered number: SC210987) |

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Foreign currencies

| 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.

| Provisions

| Provisions are recognised where the company has a present obligation as a result of a past event, it is probable that the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 3 ) .

| Gourdie Farm Associates Ltd. (Registered number: SC210987) |

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 October 2024

| and 30 September 2025 | 346 |  |

| NET BOOK VALUE

| At 30 September 2025 | 346 |  |

| At 30 September 2024 | 346 |  |

5. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 October 2024 | 24,472 |  | 30,330 |  | 54,802 |  |

| Additions | - |  | 17,494 |  | 17,494 |  |

| Disposals | - |  | (8,060 | ) | (8,060 | ) |

| At 30 September 2025 | 24,472 |  | 39,764 |  | 64,236 |  |

| DEPRECIATION

| At 1 October 2024 | 24,472 |  | 30,330 |  | 54,802 |  |

| Charge for year | - |  | 4,349 |  | 4,349 |  |

| Eliminated on disposal | - |  | (8,060 | ) | (8,060 | ) |

| At 30 September 2025 | 24,472 |  | 26,619 |  | 51,091 |  |

| NET BOOK VALUE

| At 30 September 2025 | - |  | 13,145 |  | 13,145 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 11,957 |  | 119,785 |  |

| Gourdie Farm Associates Ltd. (Registered number: SC210987) |

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

| Other debtors includes a loan of £10,249 (2024: £113,738) owed from Gourdie Farm Investments Limited, a company under the control of Mr Yu. The loan is interest free with no fixed terms of repayment.

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Taxation and social security | 8,986 |  | - |  |

| Other creditors | 19,070 |  | 75,873 |  |

28,056 |  | 75,873 |  |

| Other creditors includes a balance of £12,623 (2024: £9,873) on the director's current account. The balance is unsecured, interest-free, and repayable on demand.