Company No: SC154663 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	1,434,294		1,208,599
		1,434,294		1,208,599
Current assets
Stocks		647,649		622,869
Debtors	5	189,327		94,608
Cash at bank and in hand		203,644		213,863
		1,040,620		931,340
Creditors: amounts falling due within one year	6	( 429,557)		( 282,847)
Net current assets		611,063		648,493
Total assets less current liabilities		2,045,357		1,857,092
Creditors: amounts falling due after more than one year	7	( 2,809)		( 20,309)
Provision for liabilities	8, 9	( 131,703)		( 45,063)
Net assets		1,910,845		1,791,720
Capital and reserves
Called-up share capital	10	1,114		1,114
Share premium account		399,478		399,478
Capital redemption reserve		137		137
Profit and loss account		1,510,116		1,390,991
Total shareholders' funds		1,910,845		1,791,720

For the financial year ending 31 January 2026 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 in accordance with the provisions applicable to companies subject to the small companies regime of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A – small entities.

The financial statements of Brechin Castle Centre Limited (registered number: SC154663) were approved and authorised for issue by the Board of Directors on 17 June 2026. They were signed on its behalf by:

The Earl Of Dalhousie 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

Brechin Castle Centre 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 Dalhousie Estate Office West Lodge, Maulesden, Brechin, DD9 6RL, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 garden centre and coffee shop sales net of VAT and trade discounts.

Revenue from the sale of garden centre and coffee shop goods is recognised on a cash basis at the point of sale.

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.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account 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.

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	25 - 30 years straight line
Plant and machinery	5 years straight line
Vehicles	4 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
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

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 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).

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.

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

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	61		64

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 February 2025	3,004,511		464,196		28,695		3,497,402
Additions	362,790		31,731		0		394,521
Disposals	( 294,698)		( 235,894)		0		( 530,592)
At 31 January 2026	3,072,603		260,033		28,695		3,361,331
Accumulated depreciation
At 01 February 2025	1,929,297		334,456		25,050		2,288,803
Charge for the financial year	99,838		57,006		3,645		160,489
Disposals	( 287,105)		( 235,150)		0		( 522,255)
At 31 January 2026	1,742,030		156,312		28,695		1,927,037
Net book value
At 31 January 2026	1,330,573		103,721		0		1,434,294
At 31 January 2025	1,075,214		129,740		3,645		1,208,599

5. Debtors

	2026		2025
	£		£
Trade debtors	96,949		29,366
Corporation tax	17,948		0
Other debtors	74,430		65,242
	189,327		94,608

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	17,500		70,000
Trade creditors	155,115		45,384
Taxation and social security	139,655		88,647
Other creditors	117,287		78,816
	429,557		282,847

The bank loan is secured by a floating charge over the properties.

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

	2026		2025
	£		£
Bank loans	0		17,500
Other creditors	2,809		2,809
	2,809		20,309

The bank loan is secured by a floating charge over the properties.

7. Provision for liabilities

	2026		2025
	£		£
Deferred tax	131,703		45,063

8. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 45,063)		( 54,844)
(Charged)/credited to the Profit and Loss Account	( 86,640)		9,781
At the end of financial year	( 131,703)		( 45,063)

9. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
111,346 Ordinary shares of £ 0.01 each	1,113		1,113

10. Financial commitments

Commitments

Capital commitments are as follows:

	2026		2025
	£		£
Contracted for but not provided for:
Tangible fixed assets	0		343,374

11. Related party transactions

Other related party transactions

	2026		2025
	£		£
Amounts Owed by related parties	67,761		34,226

The balance noted above is a combination of trading and cash movements between related parties. This balance is unsecured and interest free.