REGISTERED NUMBER: SC477072 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

ISLE OF MULL COTTAGES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss R C Carter

R O'Connell

REGISTERED OFFICE:

Broombank

North Connel

Oban

Argyll

PA37 1RD

REGISTERED NUMBER:

SC477072 (Scotland)

ACCOUNTANTS:

Andy Newiss & Co Ltd

Broombank

North Connel

Oban

Argyll

PA37 1RD

FIXED ASSETS

Tangible assets

4

19,314

18,818

CURRENT ASSETS

Debtors

5

514,185

442,048

Cash at bank

623,934

505,398

1,138,119

947,446

CREDITORS

Amounts falling due within one year

6

598,467

516,779

NET CURRENT ASSETS

539,652

430,667

TOTAL ASSETS LESS CURRENT LIABILITIES

558,966

449,485

PROVISIONS FOR LIABILITIES

2,289

1,802

NET ASSETS

556,677

447,683

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

556,577

447,583

SHAREHOLDERS' FUNDS

556,677

447,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 12 June 2026 and were signed on its behalf by:

Miss R C Carter - Director

1.	STATUTORY INFORMATION

Isle of Mull Cottages 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.

Freehold property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2025 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2025

18,041

7,683

8,431

34,155

Additions

-

1,985

2,543

4,528

At 31 March 2026

18,041

9,668

10,974

38,683

DEPRECIATION

At 1 April 2025

3,608

4,980

6,749

15,337

Charge for year

1,804

1,172

1,056

4,032

At 31 March 2026

5,412

6,152

7,805

19,369

NET BOOK VALUE

At 31 March 2026

12,629

3,516

3,169

19,314

At 31 March 2025

14,433

2,703

1,682

18,818

5.

DEBTORS

2026

2025

£

£

Amounts falling due within one year:

Trade debtors

80,104

71,078

Other debtors

2,641

1,943

82,745

73,021

Amounts falling due after more than one year:

Amounts owed by related parties

431,440

369,027

Aggregate amounts

514,185

442,048

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

6,554

4,086

Taxation and social security

114,881

116,758

Other creditors

477,032

395,935

598,467

516,779

7.	RELATED PARTY DISCLOSURES

Amounts owed from entities in which the Directors have a participating interest

Entities with control, joint control or significant influence over the company £431,440 (£369,027 2025)

Amounts due from related parties are unsecured with interest receivable per the loan agreement.