REGISTERED NUMBER: SC063713 (Scotland)

Financial Statements for the Year Ended 31 October 2025

for

Lecht Ski Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr J L Thorogood

I J du Pon

REGISTERED OFFICE:

Strathdon

Aberdeenshire

AB36 8YP

REGISTERED NUMBER:

SC063713 (Scotland)

ACCOUNTANTS:

J M Taylor

5 Rubislaw Terrace

ABERDEEN

AB10 1XE

SOLICITORS:

Shepherd and Wedderburn LLP

37 Albyn Place

Aberdeen

AB10 1YN

FIXED ASSETS

Tangible assets

4

2,841,618

2,992,259

Investments

5

650

650

2,842,268

2,992,909

CURRENT ASSETS

Stocks

2,651

3,217

Debtors

6

110,232

40,382

Cash at bank and in hand

56,444

48,707

169,327

92,306

CREDITORS

Amounts falling due within one year

7

303,151

295,909

NET CURRENT LIABILITIES

(133,824

)

(203,603

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,708,444

2,789,306

CREDITORS

Amounts falling due after more than one year

8

(1,038,199

)

(1,038,419

)

PROVISIONS FOR LIABILITIES

(165,566

)

(189,801

)

NET ASSETS

1,504,679

1,561,086

CAPITAL AND RESERVES

Called up share capital

837,196

837,196

Other reserves

45,000

45,000

Fair value reserve

10

-

6,037

Retained earnings

622,483

672,853

SHAREHOLDERS' FUNDS

1,504,679

1,561,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 26 May 2026 and were signed on its behalf by:

I J du Pon - Director

1.	STATUTORY INFORMATION

Lecht Ski Company Limited 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Wind turbine development

-

5% on cost

Roads, car park and buildings

-

1% on cost and Over the life of the land lease

Plant and machinery

-

6.66% - 20% on cost

Ski lifts

-

Over the life of the land lease

Motor vehicles

-

25% on cost

Ski hire equipment

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants

Grants are recognised under the performance model. Grants which do not impose specific future performance related conditions are recognised in income when the grant proceeds are receivable. Grants which do impose specific future performance related conditions are recognised over the term of those conditions.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Roads,

Wind

car park

turbine

and

Plant and

development

buildings

machinery

£

£

£

COST

At 1 November 2024

367,810

1,836,880

1,975,943

Additions

-

-

32,350

At 31 October 2025

367,810

1,836,880

2,008,293

DEPRECIATION

At 1 November 2024

222,227

623,816

1,089,157

Charge for year

18,390

29,104

92,641

At 31 October 2025

240,617

652,920

1,181,798

NET BOOK VALUE

At 31 October 2025

127,193

1,183,960

826,495

At 31 October 2024

145,583

1,213,064

886,786

Motor

Ski hire

Ski lifts

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2024

1,539,352

6,995

88,162

5,815,142

Additions

32,413

-

-

64,763

At 31 October 2025

1,571,765

6,995

88,162

5,879,905

DEPRECIATION

At 1 November 2024

815,434

2,798

69,451

2,822,883

Charge for year

65,054

1,399

8,816

215,404

At 31 October 2025

880,488

4,197

78,267

3,038,287

NET BOOK VALUE

At 31 October 2025

691,277

2,798

9,895

2,841,618

At 31 October 2024

723,918

4,197

18,711

2,992,259

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

Ski lifts

Totals

£

£

£

COST

At 1 November 2024

64,408

166,846

231,254

Additions

3,800

-

3,800

Transfer to ownership

226,074

-

226,074

At 31 October 2025

294,282

166,846

461,128

DEPRECIATION

At 1 November 2024

2,147

6,492

8,639

Charge for year

4,479

11,128

15,607

Transfer to ownership

50,865

-

50,865

At 31 October 2025

57,491

17,620

75,111

NET BOOK VALUE

At 31 October 2025

236,791

149,226

386,017

At 31 October 2024

62,261

160,354

222,615

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 November 2024

and 31 October 2025

650

NET BOOK VALUE

At 31 October 2025

650

At 31 October 2024

650

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade debtors

-

18,284

Other debtors

110,232

22,098

110,232

40,382

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans and overdrafts

24,994

49,210

Hire purchase contracts

88,197

67,333

Trade creditors

84,349

94,340

Taxation and social security

16,163

28,989

Other creditors

89,448

56,037

303,151

295,909

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans

-

27,873

Hire purchase contracts

135,899

166,246

Other creditors

902,300

844,300

1,038,199

1,038,419

Amounts falling due in more than five years:

Repayable by instalments

Shareholders loans > 5 years

306,150

262,650

Turbine loans > 5 years

266,250

266,250

572,400

528,900

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.25

31.10.24

£

£

Bank loans

24,994

77,083

Bank and other borrowings are secured by a standard security over the café building and a floating charge over all the assets of the company.

10.

RESERVES

Fair

value

reserve

£

At 1 November 2024

6,037

Excess depreciation transfer

(6,037

)

At 31 October 2025

-

11.	OTHER FINANCIAL COMMITMENTS

At 31 October 2025 the company had annual commitments totalling £19,662 (31/10/24 - £19,662) under non-cancellable operating leases expiring in over five years. The leases relate to the rental of land.

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.