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Registered number: SC424902 SCALLAFIELD LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
SCALLAFIELD LIMITED COMPANY INFORMATION
DIRECTORS | A M Anderson
| G B Anderson
| B G Anderson
| N A Anderson
REGISTERED NUMBER | SC424902
REGISTERED OFFICE | Westby
| 64 West High Street
| Forfar
| Angus
| DD8 1BJ
ACCOUNTANTS | EQ Accountants Limited
| Chartered Accountants
| 14 City Quay
| Dundee
| DD1 3JA
SCALLAFIELD LIMITED REGISTERED NUMBER: SC424902 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 3 |  | 223,639 |  | 213,801
Investment property | 4 |  | 2,200,000 |  | 2,200,000
|  |  | 2,423,639 |  | 2,413,801
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 100,000 |  | 48,600 |
Cash at bank and in hand |  | 535,793 |  | 216,710 |
|  | 635,793 |  | 265,310 |
Creditors: amounts falling due within one year | 6 | (242,353) |  | (95,553) |
Net current assets |  |  | 393,440 |  | 169,757
Total assets less current liabilities |  |  | 2,817,079 |  | 2,583,558
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (536,409) |  | (9,975) |
|  |  | (536,409) |  | (9,975)
Net assets |  |  | 2,280,670 |  | 2,573,583
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 100 |  | 100
Profit and loss account |  |  | 2,280,570 |  | 2,573,483
|  |  | 2,280,670 |  | 2,573,583
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SCALLAFIELD LIMITED REGISTERED NUMBER: SC424902 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 March 2026.
B G Anderson
Director
The notes on pages 3 to 6 form part of these financial statements. Page 2
SCALLAFIELD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | GENERAL INFORMATION
Scallafield Limited is a limited company incorporated in Scotland. The registered office is Westby, 64 West High Street, Forfar, Angus, DD8 1BJ. The principle place of business is Seafield House, Ness of Sound, Shetland, ZE1 0RN. 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | TURNOVER
Turnover arises from the leasing of land and royalties on stone extracted from borrow pits.
| 2.3 | PENSIONS
Defined contribution pension plan The Company operates a defined contribution plan for its 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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. Page 3
SCALLAFIELD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.4 | CURRENT AND DEFERRED TAXATION
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.5 | INVESTMENT PROPERTY
Investment property is carried at fair value determined annually by the directors and derived from a discounted cash flow valuation model. The base rent of the lease has been discounted over the 25 year life at an average discount rate of 20%. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.
| 2.6 | VALUATION OF INVESTMENTS
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.7 | 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. Page 4
SCALLAFIELD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | FIXED ASSET INVESTMENTS
|  | Listed investments
|  | £
| Cost or valuation |
| At 1 January 2025 | 213,801
| Revaluations | 9,838
| At 31 December 2025 | 223,639
4. | INVESTMENT PROPERTY
|  | Freehold investment property
|  | £
| Valuation |
| At 1 January 2025 | 2,200,000
| At 31 December 2025 | 2,200,000
The 2025 valuations were made by the directors, on an open market value for existing use basis.
| At 31 December 2025
5. | DEBTORS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | - | 48,600
| Amounts owed by group undertakings | 100,000 | -
|  | 100,000 | 48,600
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SCALLAFIELD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | CREDITORS: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | - | 2,400
| Other taxation and social security | 165,061 | 16,703
| Accruals and deferred income | 77,292 | 76,450
|  | 242,353 | 95,553
7. | SHARE CAPITAL
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 60 (2024 - 60) Ordinary A shares of £1.00 each | 60 | 60
|  | 40 (2024 - 40) Ordinary B shares of £1.00 each | 40 | 40
|  |  | 100 | 100
8. | PENSION COMMITMENTS
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £80,000 (2024 - £NIL).
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