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Company No: SC615411 (Scotland)

# SEAFIELD HALL CULLEN LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH THE REGISTRAR

SEAFIELD HALL CULLEN LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025

Contents

SEAFIELD HALL CULLEN LIMITED

## BALANCE SHEET

AS AT 31 DECEMBER 2025
SEAFIELD HALL CULLEN LIMITED

## BALANCE SHEET (continued)

AS AT 31 DECEMBER 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 238,660 |  | 243,878
|  | 238,660 |  | 243,878
Current assets |  |  |  |
Debtors | 4 | 1,154 |  | 172
|  | 1,154 |  | 172
Creditors: amounts falling due within one year | 5 | ( 49,135) |  | ( 57,951)
Net current liabilities |  | (47,981) |  | (57,779)
Total assets less current liabilities |  | 190,679 |  | 186,099
Creditors: amounts falling due after more than one year | 6 | ( 69,329) |  | ( 69,862)
Net assets |  | 121,350 |  | 116,237
Capital and reserves |  |  |  |
Called-up share capital | 7 | 1 |  | 1
Profit and loss account |  | 121,349 |  | 116,236
Total shareholder's funds |  | 121,350 |  | 116,237

For the financial 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.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges 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 Seafield Hall Cullen Limited (registered number: SC615411) were approved and authorised for issue by the Director on 01 June 2026. They were signed on its behalf by:

Charles Milne Director |

SEAFIELD HALL CULLEN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025
SEAFIELD HALL CULLEN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025

##### 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

Seafield Hall Cullen 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 119 High Street, Buckie, AB56 4DX, Scotland, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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.

##### 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.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### 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 or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, 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
Leasehold improvements | 50 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, 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.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

##### 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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 1 |  | 1

#### 3. Tangible assets

| Land and buildings |  | Leasehold improve- ments |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 January 2025 | 43,229 |  | 217,639 |  | 260,868
At 31 December 2025 | 43,229 |  | 217,639 |  | 260,868
Accumulated depreciation |  |  |  |  |
At 01 January 2025 | 3,243 |  | 13,747 |  | 16,990
Charge for the financial year | 865 |  | 4,353 |  | 5,218
At 31 December 2025 | 4,108 |  | 18,100 |  | 22,208
Net book value |  |  |  |  |
At 31 December 2025 | 39,121 |  | 199,539 |  | 238,660
At 31 December 2024 | 39,986 |  | 203,892 |  | 243,878

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by related parties | 1,154 |  | 172

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

| 2025 |  | 2024
| £ |  | £
Amounts owed to related parties | 13,229 |  | 13,229
Taxation and social security | 2,704 |  | 11,415
Other creditors | 33,202 |  | 33,307
| 49,135 |  | 57,951

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

| 2025 |  | 2024
| £ |  | £
Amounts owed to related parties | 69,329 |  | 69,862

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 A ordinary share of £ 1.00 | 1 |  | 1

#### 8. Related party transactions

Transactions with the entity's director

| 2025 |  | 2024
| £ |  | £
Amounts due to Key Management Personnel | 30,999 |  | 30,999

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts due to other related parties | (82,558) |  | (83,091)
Amounts due from other related parties | 1,154 |  | 172