Company No: SC517388 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	0		9,750
Tangible assets	4	58,726		56,777
Investment property	5	80,000		80,000
		138,726		146,527
Current assets
Stocks	6	12,570		9,500
Debtors	7	26,727		22,812
Cash at bank and in hand	8	133,576		78,329
		172,873		110,641
Creditors: amounts falling due within one year	9	( 63,489)		( 59,806)
Net current assets		109,384		50,835
Total assets less current liabilities		248,110		197,362
Creditors: amounts falling due after more than one year	10	( 54,903)		( 62,669)
Provision for liabilities	11, 12	( 20,564)		( 20,102)
Net assets		172,643		114,591
Capital and reserves
Called-up share capital	13	100		100
Revaluation reserve		17,723		17,723
Profit and loss account		154,820		96,768
Total shareholders' funds		172,643		114,591

For the financial year ending 31 October 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 Grants Butchers Dundee Ltd (registered number: SC517388) were approved and authorised for issue by the Board of Directors on 12 June 2026. They were signed on its behalf by:

Garry Webster Mitchell 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

Grants Butchers Dundee Ltd (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 9 Auchencairn Place, Monifieth, DD5 4TS, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties 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 £.

Turnover

Turnover represents amounts receivable for the production and sale of meat products, net of VAT.

Shop sales are recognised on a cash basis and sales to external customers are recognised on despatch.

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.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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, 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:

Plant and machinery etc.

4 - 5 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.

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 Statement of Income and Retained Earnings 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).

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, 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.

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	5		5

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 November 2024	97,500		97,500
At 31 October 2025	97,500		97,500
Accumulated amortisation
At 01 November 2024	87,750		87,750
Charge for the financial year	9,750		9,750
At 31 October 2025	97,500		97,500
Net book value
At 31 October 2025	0		0
At 31 October 2024	9,750		9,750

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 November 2024	95,210		95,210
Additions	19,953		19,953
At 31 October 2025	115,163		115,163
Accumulated depreciation
At 01 November 2024	38,433		38,433
Charge for the financial year	18,004		18,004
At 31 October 2025	56,437		56,437
Net book value
At 31 October 2025	58,726		58,726
At 31 October 2024	56,777		56,777

5. Investment property

	Investment property
	£
Valuation
As at 01 November 2024	80,000
As at 31 October 2025	80,000

The fair value of the investment property held by the company has been arrived at on the basis of a valuation carried out on 31 October 2025 by the director. The valuation was made on an open market basis by reference to market evidence of the transaction prices for similar properties.

6. Stocks

	2025		2024
	£		£
Stocks	12,570		9,500

7. Debtors

	2025		2024
	£		£
Trade debtors	21,046		18,742
Other debtors	5,681		4,070
	26,727		22,812

8. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	133,576		78,329

9. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	5,934		5,787
Trade creditors	18,955		22,154
Taxation and social security	26,555		19,049
Obligations under finance leases and hire purchase contracts	1,833		172
Other creditors	10,212		12,644
	63,489		59,806

Included within bank loans are amounts advanced to the company under the Bounce Back Loan Scheme. This loan is fully backed by a government guarantee.

Net obligations under finance leases and hire purchase contracts are secured over the related asset.

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

	2025		2024
	£		£
Bank loans	24,161		30,094
Obligations under finance leases and hire purchase contracts	30,742		32,575
	54,903		62,669

Included within bank loans are amounts advanced to the company under the Bounce Back Loan Scheme. This loan is fully backed by a government guarantee.

Net obligations under finance leases and hire purchase contracts are secured over the related asset.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans (repayable by instalments)	0		5,444

11. Provision for liabilities

	2025		2024
	£		£
Deferred tax	20,564		20,102

12. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 20,102)		( 3,754)
Charged to the Profit and Loss Account	( 462)		( 16,348)
At the end of financial year	( 20,564)		( 20,102)

13. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

14. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

	2025		2024
	£		£
Directors' current account	262		5,948

Advances have been made in this period to the Directors totalling £32,686 and £27,000 has been repaid. This loan is unsecured, interest free and repayable on demand.