REGISTERED NUMBER: SC046935 (Scotland)

Unaudited Financial Statements For The Year Ended 31st October 2025

for

CAIRNGORM CANOEING & SAILING SCHOOL

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr J Freshwater

Mr D Freshwater

Mr D M C Barton

Registered office:

Insh Hall

Kincraig

PH21 1NU

Registered number:

SC046935 (Scotland)

Accountants:

Goldwells

15-17 High Street

Kingussie

Inverness-Shire

PH21 1HS

Fixed assets

Tangible assets

4

2,498,881

2,547,206

Current assets

Stocks

56,599

59,173

Debtors

5

54,196

46,727

Cash at bank and in hand

21,862

5,781

132,657

111,681

Creditors

Amounts falling due within one year

6

598,358

635,539

Net current liabilities

(465,701

)

(523,858

)

Total assets less current liabilities

2,033,180

2,023,348

Creditors

Amounts falling due after more than one year

7

1,078,865

1,112,945

Net assets

954,315

910,403

Capital and reserves

Called up share capital

8

21,089

20,189

Share premium

91,089

41,139

Revaluation reserve

9

260,228

260,228

Retained earnings

581,909

588,847

Shareholders' funds

954,315

910,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2025 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 10th July 2026 and were signed on its behalf by:

Mr D Freshwater - Director

1.	Statutory information

Cairngorm Canoeing & Sailing School 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.

Plant and machinery

-

Straight line over 5 years

Motor vehicles

-

25% on reducing balance

Office equipment

-

at varying rates on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 47 (2024 - 56 ) .

4.	Tangible fixed assets

Assets

Freehold

under

Plant and

property

construction

machinery

£

£

£

Cost

At 1st November 2024

2,009,415

212,761

708,610

Additions

-

18,720

24,835

At 31st October 2025

2,009,415

231,481

733,445

Depreciation

At 1st November 2024

-

-

407,207

Charge for year

-

-

84,059

At 31st October 2025

-

-

491,266

Net book value

At 31st October 2025

2,009,415

231,481

242,179

At 31st October 2024

2,009,415

212,761

301,403

Motor

Office

vehicles

equipment

Totals

£

£

£

Cost

At 1st November 2024

54,178

26,281

3,011,245

Additions

-

108

43,663

At 31st October 2025

54,178

26,389

3,054,908

Depreciation

At 1st November 2024

41,700

15,132

464,039

Charge for year

3,120

4,809

91,988

At 31st October 2025

44,820

19,941

556,027

Net book value

At 31st October 2025

9,358

6,448

2,498,881

At 31st October 2024

12,478

11,149

2,547,206

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

13,684

17,393

Other debtors

40,512

29,334

54,196

46,727

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

22,377

84,769

Trade creditors

116,984

143,759

Taxation and social security

207,107

114,483

Other creditors

251,890

292,528

598,358

635,539

7.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans

405,764

418,114

Other creditors

673,101

694,831

1,078,865

1,112,945

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

20,189

Ordinary £1.00 shares

1.00

21,089

20,189

9.

Reserves

Revaluation

reserve

£

At 1st November 2024

and 31st October 2025

260,228