Company No: SC197378 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,021,899		1,074,538
		1,021,899		1,074,538
Current assets
Stocks		53,930		53,150
Debtors	4	448,781		498,723
Cash at bank and in hand		43,642		124,578
		546,353		676,451
Creditors: amounts falling due within one year	5	( 410,220)		( 434,778)
Net current assets		136,133		241,673
Total assets less current liabilities		1,158,032		1,316,211
Creditors: amounts falling due after more than one year	6	( 323,677)		( 384,899)
Provision for liabilities	7	( 39,928)		( 50,398)
Net assets		794,427		880,914
Capital and reserves
Called-up share capital	8	200,808		200,808
Capital redemption reserve		315,568		315,568
Profit and loss account		278,051		364,538
Total shareholders' funds		794,427		880,914

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

Directors' 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 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; 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 Profit and Loss Account has not been delivered.

The financial statements of Lochter Fishery Limited (registered number: SC197378) were approved and authorised for issue by the Board of Directors on 22 May 2026. They were signed on its behalf by:

John Robert Webster Director

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

Lochter Fishery Limited (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 Lochter Farm, Oldmeldrum, Inverurie, AB51 0DZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and 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 £.

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 confirmed that external finance will continue to be available to support the company. Therefore they have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations & debts 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.

Turnover

Turnover represents amounts receivable from the operation of a trout fishery, activity centre, coffee and gift shop net of VAT.

Turnover is recognised on an accruals basis as the services are provided.

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.

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

Land and buildings	50 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	10 - 25 % reducing balance
	5 years straight line
Other property, plant and equipment	not depreciated

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.

Included within Other property, plant and equipment are pond excavations which are not depreciated.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, 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 and intangible 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

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. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

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, cash and bank balances, are measured at transaction price including transaction costs.

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 and bank loans, are recognised at transaction price.

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.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	63		57

3. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Other property, plant and equipment		Total
	£		£		£		£		£
Cost
At 01 October 2024	935,866		98,360		835,944		173,014		2,043,184
Additions	0		0		32,348		0		32,348
Disposals	0		( 19,000)		( 23,837)		0		( 42,837)
At 30 September 2025	935,866		79,360		844,455		173,014		2,032,695
Accumulated depreciation
At 01 October 2024	297,926		45,362		625,358		0		968,646
Charge for the financial year	17,717		13,062		52,722		0		83,501
Disposals	0		( 18,248)		( 23,103)		0		( 41,351)
At 30 September 2025	315,643		40,176		654,977		0		1,010,796
Net book value
At 30 September 2025	620,223		39,184		189,478		173,014		1,021,899
At 30 September 2024	637,940		52,998		210,586		173,014		1,074,538

4. Debtors

	2025		2024
	£		£
Trade debtors	138,084		132,203
Amounts owed by related parties	189,940		268,003
Other debtors	120,757		98,517
	448,781		498,723

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	53,179		51,222
Trade creditors	101,360		57,058
Taxation and social security	120,216		118,181
Obligations under finance leases and hire purchase contracts	8,044		8,044
Other creditors	127,421		200,273
	410,220		434,778

The bank loan is secured by a fixed and floating charge over the assets and property of the company.

Obligations under hire purchase and finance leases are secured over the asset to which they relate.

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	314,293		367,471
Obligations under finance leases and hire purchase contracts (secured)	9,384		17,428
	323,677		384,899

The bank loan is secured by a fixed and floating charge over the assets and property of the company.

Obligations under hire purchase and finance leases are secured over the asset to which they relate.

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	39,928		50,398

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
174,808 Ordinary shares of £ 1.00 each	174,808		174,808
26,000 Ordinary A shares of £ 1.00 each	26,000		26,000
	200,808		200,808

9. Financial commitments

Other financial commitments

The company has an unlimited guarantee with Oak Lodge Renewables Limited, supported by a first standard security over land with regards to bank funding within this Oak Lodge Renewables Limited.

10. Related party transactions

Transactions with owners holding a participating interest in the entity

	2025		2024
	£		£
Balance at year end due from entities over which the directors have control	189,940		268,003

Transactions with the entity's directors

	2025		2024
	£		£
Amounts owed by Directors	55,494		45,986

During the year the company operated a loan account with both its directors. The loan is interest free and there are no fixed repayment terms.