Afton Group Holdings Limited is a private company limited by shares, registered in Scotland. The address of the registered office and registration number is given in the company information on page 1 of these financial statements.

These financial statements have been prepared in accordance with FRS 102 the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland as adapted by Section 1A of FRS 102 and the Companies Act 2006.

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The directors have assessed the company's ability to continue as a going concern and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

The company owns 100% of the Ordinary share capital of Afton Estates Limited, whose principal activity is that of holding of investment properties. It also owns 100% of the Ordinary share captial of Second Afton Securities Limited, whose principal activity is that of trading in properties. Both subsidiaries are registered in Scotland.

The company has granted a cross guarantee and floating charge over its assets in favour of Bank of Scotland Plc to secure loan arrangements for properties held by Afton Estates Limited and Second Afton Securities Limited. At the balance sheet date the total bank borrowings for the group were £886,690 (2024: £1,070,786).