Acorah Software Products - Accounts Production 18.1.200 false true 31 December 2024 1 January 2024 false 1 January 2025 31 December 2025 31 December 2025 SC192048 Mr Harry Radford Mr Timothy Radford Ms India Radford Mrs Nicola Radford Turcan Connell Company Secretaries Limited Timothy Piers Radford true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC192048 2024-12-31 SC192048 2025-12-31 SC192048 2025-01-01 2025-12-31 SC192048 frs-core:CurrentFinancialInstruments 2025-12-31 SC192048 frs-core:Non-currentFinancialInstruments 2025-12-31 SC192048 frs-core:ComputerEquipment 2025-12-31 SC192048 frs-core:ComputerEquipment 2025-01-01 2025-12-31 SC192048 frs-core:ComputerEquipment 2024-12-31 SC192048 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 SC192048 frs-core:FurnitureFittings 2025-12-31 SC192048 frs-core:FurnitureFittings 2025-01-01 2025-12-31 SC192048 frs-core:FurnitureFittings 2024-12-31 SC192048 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-12-31 SC192048 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 SC192048 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 SC192048 frs-core:MotorVehicles 2025-12-31 SC192048 frs-core:MotorVehicles 2025-01-01 2025-12-31 SC192048 frs-core:MotorVehicles 2024-12-31 SC192048 frs-core:OtherResidualIntangibleAssets 2025-12-31 SC192048 frs-core:OtherResidualIntangibleAssets 2025-01-01 2025-12-31 SC192048 frs-core:OtherResidualIntangibleAssets 2024-12-31 SC192048 frs-core:PlantMachinery 2025-12-31 SC192048 frs-core:PlantMachinery 2025-01-01 2025-12-31 SC192048 frs-core:PlantMachinery 2024-12-31 SC192048 frs-core:ShareCapital 2025-12-31 SC192048 frs-core:RetainedEarningsAccumulatedLosses 2025-12-31 SC192048 frs-bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 SC192048 frs-bus:FilletedAccounts 2025-01-01 2025-12-31 SC192048 frs-bus:SmallEntities 2025-01-01 2025-12-31 SC192048 frs-bus:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 SC192048 frs-bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 SC192048 frs-bus:OrdinaryShareClass1 2025-01-01 2025-12-31 SC192048 frs-bus:OrdinaryShareClass1 2025-12-31 SC192048 frs-bus:PreferenceShareClass1 2025-01-01 2025-12-31 SC192048 frs-bus:PreferenceShareClass1 2025-12-31 SC192048 1 2025-01-01 2025-12-31 SC192048 frs-core:ListedExchangeTraded 2025-12-31 SC192048 frs-core:ListedExchangeTraded 2024-12-31 SC192048 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-12-31 SC192048 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2025-12-31 SC192048 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2025-12-31 SC192048 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2025-12-31 SC192048 frs-core:CostValuation frs-core:ListedExchangeTraded 2025-12-31 SC192048 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-12-31 SC192048 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2025-12-31 SC192048 frs-bus:Director1 2025-01-01 2025-12-31 SC192048 frs-bus:Director1 2024-12-31 SC192048 frs-bus:Director1 2025-12-31 SC192048 frs-bus:Director2 2025-01-01 2025-12-31 SC192048 frs-bus:Director3 2025-01-01 2025-12-31 SC192048 frs-bus:Director4 2025-01-01 2025-12-31 SC192048 frs-bus:CompanySecretary1 2025-01-01 2025-12-31 SC192048 1 2025-01-01 2025-12-31 SC192048 frs-core:CurrentFinancialInstruments 1 2025-12-31 SC192048 frs-core:Non-currentFinancialInstruments 1 2025-12-31 SC192048 2 2025-01-01 2025-12-31 SC192048 frs-core:CurrentFinancialInstruments 2 2025-12-31 SC192048 frs-core:Non-currentFinancialInstruments 2 2025-12-31 SC192048 frs-countries:Scotland 2025-01-01 2025-12-31 SC192048 2023-12-31 SC192048 2024-12-31 SC192048 2024-01-01 2024-12-31 SC192048 frs-core:CurrentFinancialInstruments 2024-12-31 SC192048 frs-core:Non-currentFinancialInstruments 2024-12-31 SC192048 frs-core:ShareCapital 2024-12-31 SC192048 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 SC192048 frs-bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC192048 frs-bus:PreferenceShareClass1 2024-01-01 2024-12-31 SC192048 1 2024-01-01 2024-12-31 SC192048 frs-core:CurrentFinancialInstruments 1 2024-12-31 SC192048 frs-core:Non-currentFinancialInstruments 1 2024-12-31 SC192048 2 2024-01-01 2024-12-31 SC192048 frs-core:CurrentFinancialInstruments 2 2024-12-31 SC192048 frs-core:Non-currentFinancialInstruments 2 2024-12-31
Registered number: SC192048
Benmore Estate Limited
Financial Statements
For The Year Ended 31 December 2025
Gillespie's
33 Leslie Street
Blairgowrie
Perthshire
PH10 6AW
Benmore Estate Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—8

Page 1
Benmore Estate Limited
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: SC192048

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 22,928 |  | 16,325
Tangible Assets | 5 |  | 20,671,019 |  | 19,098,603
Investments | 6 |  | 898,617 |  | 2,645,143
|  |  | 21,592,564 |  | 21,760,071
CURRENT ASSETS
Stocks | 7 | 30,946 |  | 25,696 |
Debtors | 8 | 417,450 |  | 577,642 |
Cash at bank and in hand |  | 588,683 |  | 399,488 |
|  | 1,037,079 |  | 1,002,826 |
Creditors: Amounts Falling Due Within One Year | 9 | (799,053 ) |  | (1,066,342 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 238,026 |  | (63,516 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 21,830,590 |  | 21,696,555
Creditors: Amounts Falling Due After More Than One Year | 10 |  | (1,576,239 ) |  | (1,721,459 )
PROVISIONS FOR LIABILITIES
Deferred Taxation | 12 |  | (1,518,572 ) |  | (1,430,278 )
NET ASSETS |  |  | 18,735,779 |  | 18,544,818
CAPITAL AND RESERVES
Called up share capital | 13 |  | 15,000,000 |  | 15,000,000
Profit and Loss Account |  |  | 3,735,779 |  | 3,544,818
SHAREHOLDERS' FUNDS |  |  | 18,735,779 |  | 18,544,818

Page 1
Page 2
Benmore Estate Limited
Balance Sheet (continued)
As At 31 December 2025
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Timothy Radford Director
16th April 2026

The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Benmore Estate Limited
Notes to the Financial Statements
For The Year Ended 31 December 2025
Notes to the Financial Statements
1. General Information
Benmore Estate Limited is a private company, limited by shares, incorporated in Scotland, registered number SC192048 . The registered office is Princes Exchange, 1 Earl Grey Street, Edinburgh, Midlothian, EH3 9EE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from property rental, the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relate to Website costs. These are amortised to profit and loss account over their estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation.
Land and buildings are not in general depreciated, however the Hydro Scheme installation which in total cost £2,594,532; Hatchery costs of £1,098,828; Island Pods costs of £1,213,434; Coffee Pod costs £16,995 and Knock Water Supply costs £37,565 are being depreciated on a 5% Straight Line basis.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | see note
Plant & Machinery | 15% reducing balance
Motor Vehicles | 25% reducing balance
Fixtures & Fittings | 10% straight line
Roads & Fencing | 10% reducing balance

2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
Benmore Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.6. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:

| 2025 |  | 2024
--- | --- | --- | ---
Office and administration | 2 |  | 2
Sales, marketing and distribution | 11 |  | 8
Directors | 4 |  | 4
Cafe and Farm Shop | 9 |  | -
| 26 |  | 14

4. Intangible Assets

| Other
--- | ---
| £
Cost
As at 1 January 2025 | 30,269
Additions | 10,700
As at 31 December 2025 | 40,969
Amortisation
As at 1 January 2025 | 13,944
Provided during the period | 4,097
As at 31 December 2025 | 18,041
Net Book Value
As at 31 December 2025 | 22,928
As at 1 January 2025 | 16,325

Page 4
Page 5
Benmore Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
5. Tangible Assets

| Land & Property
--- | ---
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings
| £ | £ | £ | £
Cost
As at 1 January 2025 | 19,237,118 | 1,463,553 | 492,491 | 1,319,841
Additions | 1,829,559 | 50,829 | 43,208 | 94,781
As at 31 December 2025 | 21,066,677 | 1,514,382 | 535,699 | 1,414,622
Depreciation
As at 1 January 2025 | 1,915,999 | 854,707 | 256,862 | 434,247
Provided during the period | 248,068 | 98,952 | 69,709 | 141,462
As at 31 December 2025 | 2,164,067 | 953,659 | 326,571 | 575,709
Net Book Value
As at 31 December 2025 | 18,902,610 | 560,723 | 209,128 | 838,913
As at 1 January 2025 | 17,321,119 | 608,846 | 235,629 | 885,594

| Roads & Fencing | Total
--- | --- | ---
| £ | £
Cost
As at 1 January 2025 | 52,683 | 22,565,686
Additions | 129,969 | 2,148,346
As at 31 December 2025 | 182,652 | 24,714,032
Depreciation
As at 1 January 2025 | 5,268 | 3,467,083
Provided during the period | 17,739 | 575,930
As at 31 December 2025 | 23,007 | 4,043,013
Net Book Value
As at 31 December 2025 | 159,645 | 20,671,019
As at 1 January 2025 | 47,415 | 19,098,603

Page 5
Page 6
Benmore Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
6. Investments

| Listed
--- | ---
| £
Cost or Valuation
As at 1 January 2025 | 2,645,143
Additions | 373,307
Disposals | (2,265,623 )
Revaluations | 145,790
As at 31 December 2025 | 898,617
Provision
As at 1 January 2025 | -
As at 31 December 2025 | -
Net Book Value
As at 31 December 2025 | 898,617
As at 1 January 2025 | 2,645,143

Investments relate to shares held within Investment Portfolios managed by Mr T P Radford. Revaluation reflects the unrealised gains/losses between original purchase price at cost and market value at the period end.
7. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Finished goods | 30,946 |  | 25,696

8. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 133,461 |  | 63,895
Prepayments and accrued income | 238,734 |  | 311,966
Other debtors | 35,000 |  | -
VAT | 10,255 |  | 201,781
| 417,450 |  | 577,642

9. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 242,233 |  | 592,006
Other creditors | 266 |  | 306
Credit card balance | 11,540 |  | 9,962
AMC loans <1 year | 89,382 |  | 82,982
Accrued expenses | 440,481 |  | 335,631
Coronavirus Business Interruption Loan within one year | 15,151 |  | 45,455
| 799,053 |  | 1,066,342

Page 6
Page 7
Benmore Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
10. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Loan from Mr T. P. Radford | 567,611 |  | 605,612
AMC Loan Hydro | 1,008,628 |  | 1,100,696
Coronavirus Business Interruption Loan after one year | - |  | 15,151
| 1,576,239 |  | 1,721,459

11. Secured Creditors
Agricultural Mortgage Corporation plc held both a floating charge over the property and undertakings of the company and a standard security over the property known as Benmore Forest Estate, both in regards to the mortgages from AMC plc. Glen Forsa Forest, part of this property undertaking, was released on 11 July 2023 and no longer forms part of the charge.
On 12 January 2022, the Bank of Scotland was granted a floating charge over the company assets.
Of the creditors falling due within and after more than one year the following amounts are secured.
Bank Loan - Coronavirus Business Interruption Loan
Other Creditor - Agricultural Mortgage Corporation plc

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans and overdrafts | 15,151 |  | 60,606
Other Creditors | 1,098,010 |  | 1,183,678

12. Deferred Taxation
The provision for deferred taxation is due to timing effect of accelerated capital allowances

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other timing differences | 1,518,572 |  | 1,430,278

13. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
7,000,000 Ordinary Shares of £ 1.000 each | 7,000,000 |  | 7,000,000

Preference Shares

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
8,000,000 Preference Shares of £ 1.000 each | 8,000,000 |  | 8,000,000

14. Directors Advances, Credits and Guarantees
Included within creditors is the following loan from a director:

| As at 1 January 2025 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2025
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr Timothy Radford | 605,612 | 152,545 | 190,546 | - | 567,611

The above loan is unsecured, interest free and repayable on demand.
Page 7
Page 8
Benmore Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
15. Related Party Transactions
During the years ended 31 December 2025, Benmore Estate Limited paid management fees of £30,000 (2024 - £72,000) to T P Radford, the Managing Director and sole shareholder of Benmore Estate Limited.
16. Ultimate Controlling Party
The company's controlling party is Timothy Piers Radford by virtue of his ownership of 100% of the issued share capital in the company.
Page 8