Company registration number SC267232 (Scotland)
BRAEMAR MOUNTAIN SPORTS PROPERTIES LIMITED
(formerly Braemar Mountain Sports Limited)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
BRAEMAR MOUNTAIN SPORTS PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
BRAEMAR MOUNTAIN SPORTS PROPERTIES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
11,229
1,347,925
Investment properties
5
1,295,000
-
0
1,306,229
1,347,925
Current assets
Stocks
-
945,520
Debtors
6
1,068,341
61,225
Cash at bank and in hand
17,770
700,579
1,086,111
1,707,324
Creditors: amounts falling due within one year
7
(31,011)
(421,767)
Net current assets
1,055,100
1,285,557
Total assets less current liabilities
2,361,329
2,633,482
Creditors: amounts falling due after more than one year
8
-
(2,606)
Provisions for liabilities
(100,619)
(107,881)
Net assets
2,260,710
2,522,995
Capital and reserves
Called up share capital
110
110
Revaluation reserve
623,036
623,036
Capital redemption reserve
70
70
Profit and loss reserves
1,637,494
1,899,779
Total equity
2,260,710
2,522,995

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

BRAEMAR MOUNTAIN SPORTS PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2025
30 September 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 May 2026 and are signed on its behalf by:
G CAREY MILLER
G Carey Miller
Director
Company Registration No. SC267232
BRAEMAR MOUNTAIN SPORTS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
1
Accounting policies
Company information

Braemar Mountain Sports Properties Limited is a private company limited by shares incorporated in Scotland. The registered office is 5 Invercauld Road, Braemar, Aberdeenshire, AB35 5YP.

1.1
Accounting convention

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 £.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

1.5
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 land and buildings
50 years straight line
Fixtures and fittings
4 years straight line
Computers
3 years straight line
Tenants improvements
10 years 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.

BRAEMAR MOUNTAIN SPORTS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash at bank and in hand

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.

1.9
Financial instruments

The company only enters into basic financial transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

1.10
Taxation

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

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.

1.11
Retirement benefits

The company operates a defined contribution plan for it's employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

BRAEMAR MOUNTAIN SPORTS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.12
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

1.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classifies within interest payable.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 17 (2024 - 61).

2025
2024
Number
Number
Total
17
61
3
Intangible fixed assets
Goodwill
Lease Premium
Total
£
£
£
Cost
At 1 October 2024
64,160
35,000
99,160
Disposals
(64,160)
(35,000)
(99,160)
At 30 September 2025
-
-
-
Amortisation and impairment
At 1 October 2024
64,160
35,000
99,160
Disposals
(64,160)
(35,000)
(99,160)
At 30 September 2025
-
-
-
Carrying amount
At 30 September 2025
-
-
-
At 30 September 2024
-
-
-
BRAEMAR MOUNTAIN SPORTS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Tenants improvements
Total
£
£
£
£
£
Cost
At 1 October 2024
1,295,000
99,846
10,788
180,520
1,586,154
Additions
-
806
-
-
806
Disposals
-
(16,768)
-
-
(16,768)
Transfers
-
(65,670)
(10,788)
-
(76,458)
Transfer to investment property
(1,295,000)
-
-
-
(1,295,000)
At 30 September 2025
-
18,214
-
180,520
198,734
Depreciation and impairment
At 1 October 2024
-
68,628
10,788
158,813
238,229
Depreciation charged in the year
-
3,517
-
10,478
13,995
Eliminated in respect of disposals
-
(15,320)
-
-
(15,320)
Transfers
-
(38,611)
(10,788)
-
(49,399)
At 30 September 2025
-
18,214
-
169,291
187,505
Carrying amount
At 30 September 2025
-
-
-
11,229
11,229
At 30 September 2024
1,295,000
31,218
-
21,707
1,347,925

During the year, fixtures and fittings were transferred to a group company at their carrying (book) value.

5
Investment property
2025
£
Fair value
At 1 October 2024
-
Transfers
1,295,000
At 30 September 2025
1,295,000

The fair value of the investment properties has been determined by the directors on an open market basis as at 30 September 2025.

BRAEMAR MOUNTAIN SPORTS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
20,865
Other debtors
1,067,667
-
Prepayments and accrued income
674
40,360
1,068,341
61,225
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
34,800
Trade creditors
15,574
174,026
Corporation tax
5,304
63,212
Other taxation and social security
-
128,604
Accruals and deferred income
10,133
21,125
31,011
421,767
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
2,606

9
Related party transactions

The company is a wholly owned subsidiary of true BMS Holdco Limited and has taken advantage of the exemptions within FRS 102 section 1AC.35 (Related Party Disclosure) which allows exemption from the disclosure of related party transactions with other group companies.

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