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REGISTERED NUMBER: SC383490 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Caithness Investors Ltd

Caithness Investors Ltd (Registered number: SC383490)

Contents of the Financial Statements

for the Year Ended 31 March 2026

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Caithness Investors Ltd

Company Information

for the Year Ended 31 March 2026

| DIRECTORS: | P J Body

| Mrs K J Body

| REGISTERED OFFICE: | Braemara

| Scarfskerry

| Thurso

| Caithness

| KW14 8XW

| REGISTERED NUMBER: | SC383490 (Scotland)

| ACCOUNTANTS: | Reid & Fraser

| Chartered Accountants

| 15 Princes Street

| Thurso

| Caithness

| KW14 7BQ

Caithness Investors Ltd (Registered number: SC383490)

Balance Sheet

31 March 2026

| 2026 |  | 2025

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | - |  | - |  |

Investment property | 5 | 310,000 |  | 310,000 |  |

310,000 |  | 310,000 |  |

CURRENT ASSETS

Debtors | 6 | 4,870 |  | 23,871 |  |

Cash at bank | 11,908 |  | 11,722 |  |

16,778 |  | 35,593 |  |

CREDITORS

Amounts falling due within one year | 7 | (6,720 | ) | (20,684 | ) |

NET CURRENT ASSETS | 10,058 |  | 14,909 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 320,058 |  | 324,909 |  |

PROVISIONS FOR LIABILITIES | (7,396 | ) | (7,396 | ) |

NET ASSETS | 312,662 |  | 317,513 |  |

CAPITAL AND RESERVES

Called up share capital | 2 |  | 2 |  |

Fair value reserve | 8 | 29,577 |  | 29,577 |  |

Retained earnings | 283,083 |  | 287,934 |  |

SHAREHOLDERS' FUNDS | 312,662 |  | 317,513 |  |

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.

Caithness Investors Ltd (Registered number: SC383490)

Balance Sheet - continued

31 March 2026

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 2 July 2026 and were signed on its behalf by:

P J Body - Director

Caithness Investors Ltd (Registered number: SC383490)

Notes to the Financial Statements

for the Year Ended 31 March 2026

1. | STATUTORY INFORMATION

| Caithness Investors Ltd 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 as modified by the revaluation of certain assets.

| 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 etc | - | 20% straight line

| INVESTMENT PROPERTY

| Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

| Investment properties whose fair value can be measured reliably are measured at fair value. Fair value is measured after considering rental yields applicable to the individual investment property. The surplus or deficit on a fair value adjustment is recognised in the income statement in the year. As the fair value adjustment is not a distributable profit, this is transferred to the fair value reserve. Deferred tax is provided on fair value gains at the rate expected to apply when the property is sold and this provision is included within the fair value reserve.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2025 - 2 ) .

Caithness Investors Ltd (Registered number: SC383490)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 April 2025

| and 31 March 2026 | 23,575 |  |

| DEPRECIATION

| At 1 April 2025

| and 31 March 2026 | 23,575 |  |

| NET BOOK VALUE

| At 31 March 2026 | - |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2025

| and 31 March 2026 | 310,000 |  |

| NET BOOK VALUE

| At 31 March 2026 | 310,000 |  |

| At 31 March 2025 | 310,000 |  |

| Fair value at 31 March 2026 is represented by:

£ |

| Valuation in 2017 | 37,635 |  |

| Valuation in 2026 | 272,365 |  |

310,000 |  |

| Investment property was valued on an open market value basis on 31 March 2026 by the directors .

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2026 | 2025 |

£ | £ |

| Other debtors | 4,870 |  | 23,871 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2026 | 2025 |

£ | £ |

| Corporation tax | 3,666 |  | 17,739 |  |

| Other creditors | 3,054 |  | 2,945 |  |

6,720 |  | 20,684 |  |

Caithness Investors Ltd (Registered number: SC383490)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

8. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 April 2025

| and 31 March 2026 | 29,577 |  |

| The amounts transferred to the fair value reserve from retained earnings represents the fair value adjustments applicable to investment properties together with the associated deferred tax provision. This is a non-distributable reserve.

9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 March 2026 and 31 March 2025:

2026 | 2025 |

£ | £ |

| P J Body

| Balance outstanding at start of year | 9,999 |  | - |  |

| Amounts advanced | - |  | 9,999 |  |

| Amounts repaid | (9,999 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | 9,999 |  |

| Mrs K J Body

| Balance outstanding at start of year | 9,999 |  | - |  |

| Amounts advanced | - |  | 9,999 |  |

| Amounts repaid | (9,999 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | 9,999 |  |