Silverfin false 06 May 2026 06 May 2026 Alastair Stewart BA (Hons) CA Gillespie & Anderson 182,448 181,169 false true 31/03/2026 01/04/2025 31/03/2026 Dharmendra Kumar Batra 23/09/2021 Glen James Gribbon 01/04/2026 Richard Joseph Hargroves 30/04/2021 Robert Walter 20/07/2021 06 May 2026 The principal activity of the Company during the financial year continued to be that of a distillery. SC697433 2026-03-31 SC697433 bus:Director1 2026-03-31 SC697433 bus:Director2 2026-03-31 SC697433 bus:Director3 2026-03-31 SC697433 bus:Director4 2026-03-31 SC697433 2025-03-31 SC697433 core:CurrentFinancialInstruments 2026-03-31 SC697433 core:CurrentFinancialInstruments 2025-03-31 SC697433 core:ShareCapital 2026-03-31 SC697433 core:ShareCapital 2025-03-31 SC697433 core:RetainedEarningsAccumulatedLosses 2026-03-31 SC697433 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC697433 core:ConstructionInProgressAssetsUnderConstruction 2025-03-31 SC697433 core:Vehicles 2025-03-31 SC697433 core:ComputerEquipment 2025-03-31 SC697433 core:ConstructionInProgressAssetsUnderConstruction 2026-03-31 SC697433 core:Vehicles 2026-03-31 SC697433 core:ComputerEquipment 2026-03-31 SC697433 bus:OrdinaryShareClass1 2026-03-31 SC697433 2025-04-01 2026-03-31 SC697433 bus:FilletedAccounts 2025-04-01 2026-03-31 SC697433 bus:SmallEntities 2025-04-01 2026-03-31 SC697433 bus:Audited 2025-04-01 2026-03-31 SC697433 2024-04-01 2025-03-31 SC697433 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 SC697433 bus:Director1 2025-04-01 2026-03-31 SC697433 bus:Director2 2025-04-01 2026-03-31 SC697433 bus:Director3 2025-04-01 2026-03-31 SC697433 bus:Director4 2025-04-01 2026-03-31 SC697433 core:Vehicles 2025-04-01 2026-03-31 SC697433 core:ComputerEquipment core:TopRangeValue 2025-04-01 2026-03-31 SC697433 core:ConstructionInProgressAssetsUnderConstruction 2025-04-01 2026-03-31 SC697433 core:ComputerEquipment 2025-04-01 2026-03-31 SC697433 core:CurrentFinancialInstruments 2025-04-01 2026-03-31 SC697433 bus:OrdinaryShareClass1 2025-04-01 2026-03-31 SC697433 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC697433 1 2025-04-01 2026-03-31 SC697433 1 2025-04-01 2026-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC697433 (Scotland)

# PORTAVADIE DISTILLERS AND BLENDERS LTD

### FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH THE REGISTRAR

PORTAVADIE DISTILLERS AND BLENDERS LTD

## FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026

Contents

PORTAVADIE DISTILLERS AND BLENDERS LTD

## BALANCE SHEET

AS AT 31 MARCH 2026
PORTAVADIE DISTILLERS AND BLENDERS LTD

## BALANCE SHEET (continued)

AS AT 31 MARCH 2026

| Note | 2026 |  | 2025
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 1,921,520 |  | 1,703,527
|  | 1,921,520 |  | 1,703,527
Current assets |  |  |  |
Debtors | 5 | 56,306 |  | 30,363
Cash at bank and in hand |  | 306,052 |  | 20,116
|  | 362,358 |  | 50,479
Creditors: amounts falling due within one year | 6 | ( 112,821) |  | ( 100,501)
Net current assets/(liabilities) |  | 249,537 |  | (50,022)
Total assets less current liabilities |  | 2,171,057 |  | 1,653,505
Net assets |  | 2,171,057 |  | 1,653,505
Capital and reserves |  |  |  |
Called-up share capital | 7 | 2,842,001 |  | 2,142,001
Profit and loss account |  | ( 670,944 ) |  | ( 488,496 )
Total shareholder's funds |  | 2,171,057 |  | 1,653,505

The 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 Portavadie Distillers and Blenders Ltd (registered number: SC697433) were approved and authorised for issue by the Board of Directors on 06 May 2026. They were signed on its behalf by:

Dharmendra Kumar Batra Director |

PORTAVADIE DISTILLERS AND BLENDERS LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026
PORTAVADIE DISTILLERS AND BLENDERS LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026

##### 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

Portavadie Distillers and Blenders 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 1 Police House, Kames, Tighnabruaich, PA21 2AB, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, 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

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The directors note that the company is reliant on funding from parent company Piccadily Agro Industries Ltd.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

##### 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.
A deferred tax asset has not been recognised in the financial statements due to the uncertainty of the recoverability of the amount.

##### Tangible fixed assets

Assets under construction are stated at cost and after any provision for impairment. Depreciation is not provided on assets under construction until the assets are operational.

Assets under construction | not depreciated
Vehicles | 25 % reducing balance
Computer equipment | 3 years straight line

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.

##### Impairment of assets

Assets 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.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Cash and cash equivalents

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

##### 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 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.

Basic financial liabilities
Basic financial liabilities, including creditors 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.

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.

#### 2. Critical accounting judgements and key sources of estimation uncertainty

The Directors have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The Directors’ estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

#### 3. Employees

| 2026 |  | 2025
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 3 |  | 3

#### 4. Tangible assets

| Assets under construc- tion |  | Vehicles |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 April 2025 | 1,698,579 |  | 7,000 |  | 1,583 |  | 1,707,162
Additions | 188,333 |  | 42,000 |  | 0 |  | 230,333
Disposals | 0 |  | ( 7,000) |  | 0 |  | ( 7,000)
At 31 March 2026 | 1,886,912 |  | 42,000 |  | 1,583 |  | 1,930,495
Accumulated depreciation |  |  |  |  |  |  |
At 01 April 2025 | 0 |  | 3,063 |  | 572 |  | 3,635
Charge for the financial year | 0 |  | 8,121 |  | 528 |  | 8,649
Disposals | 0 |  | ( 3,309) |  | 0 |  | ( 3,309)
At 31 March 2026 | 0 |  | 7,875 |  | 1,100 |  | 8,975
Net book value |  |  |  |  |  |  |
At 31 March 2026 | 1,886,912 |  | 34,125 |  | 483 |  | 1,921,520
At 31 March 2025 | 1,698,579 |  | 3,937 |  | 1,011 |  | 1,703,527

#### 5. Debtors

| 2026 |  | 2025
| £ |  | £
Other debtors | 56,306 |  | 30,363

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

| 2026 |  | 2025
| £ |  | £
Trade creditors | 44,861 |  | 47,920
Other taxation and social security | 25,624 |  | 10,449
Other creditors | 42,336 |  | 42,132
| 112,821 |  | 100,501

There are no amounts included above in respect of which any security has been given by the small entity.

#### 7. Called-up share capital

| 2026 |  | 2025
| £ |  | £
Allotted, called-up and fully-paid |  |  |
2,842,001 Ordinary shares of £ 1.00 each (2025: 2,142,001 shares of £ 1.00 each) | 2,842,001 |  | 2,142,001

During the year, loans from the parent company totalling £700,000 (2025: £400,000) were converted to Ordinary share capital.

#### 8. Related party transactions

Transactions with the entity's directors

| 2026 |  | 2025
| £ |  | £
Amounts owed to key management personnel | 11,076 |  | 26,992

The amount due to the Directors is unsecured, interest free and repayable on demand.
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

#### 9. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.

#### 10. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 March 2026 was unqualified.

The audit report was signed by Alastair Stewart BA (Hons) CA on behalf of Gillespie & Anderson.

#### 11. Ultimate controlling party

The parent company of Portavadie Distillery and Blenders Ltd is Piccadily Agro Industries Ltd, an Indian company that trades on the Indian stock exchange. The parent company owns 100% of the share capital.
The consolidated financial statements are available on request from Piccadily Agro Industries Ltd, registered office Village Bhadson, Umri - Indri Road, Teh.Indri, Distt. Karnal, Haryana-134109, India