Silverfin false false 31/03/2026 01/04/2025 31/03/2026 Shani Urquhart 30 July 2026 The principal activity of the Company during the financial year was that of investment activities. SC080236 2026-03-31 SC080236 2025-03-31 SC080236 core:CurrentFinancialInstruments 2026-03-31 SC080236 core:CurrentFinancialInstruments 2025-03-31 SC080236 core:ShareCapital 2026-03-31 SC080236 core:ShareCapital 2025-03-31 SC080236 core:RevaluationReserve 2026-03-31 SC080236 core:RevaluationReserve 2025-03-31 SC080236 core:CapitalRedemptionReserve 2026-03-31 SC080236 core:CapitalRedemptionReserve 2025-03-31 SC080236 core:RetainedEarningsAccumulatedLosses 2026-03-31 SC080236 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC080236 core:FurnitureFittings 2025-03-31 SC080236 core:ComputerEquipment 2025-03-31 SC080236 core:FurnitureFittings 2026-03-31 SC080236 core:ComputerEquipment 2026-03-31 SC080236 core:CostValuation 2025-03-31 SC080236 core:AdditionsToInvestments 2026-03-31 SC080236 core:DisposalsRepaymentsInvestments 2026-03-31 SC080236 core:RevaluationsIncreaseDecreaseInInvestments 2026-03-31 SC080236 core:CostValuation 2026-03-31 SC080236 bus:OrdinaryShareClass1 2026-03-31 SC080236 2025-04-01 2026-03-31 SC080236 bus:FilletedAccounts 2025-04-01 2026-03-31 SC080236 bus:SmallEntities 2025-04-01 2026-03-31 SC080236 bus:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 SC080236 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 SC080236 bus:Director1 2025-04-01 2026-03-31 SC080236 core:FurnitureFittings core:TopRangeValue 2025-04-01 2026-03-31 SC080236 core:ComputerEquipment core:TopRangeValue 2025-04-01 2026-03-31 SC080236 2024-04-01 2025-03-31 SC080236 core:FurnitureFittings 2025-04-01 2026-03-31 SC080236 core:ComputerEquipment 2025-04-01 2026-03-31 SC080236 bus:OrdinaryShareClass1 2025-04-01 2026-03-31 SC080236 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC080236 (Scotland)

# CULLODEN BUILDERS LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH THE REGISTRAR

CULLODEN BUILDERS LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026

Contents

CULLODEN BUILDERS LIMITED

## BALANCE SHEET

AS AT 31 MARCH 2026
CULLODEN BUILDERS LIMITED

## BALANCE SHEET (continued)

AS AT 31 MARCH 2026

| Note | 2026 |  | 2025
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 0 |  | 152
Investment property | 4 | 2,295,000 |  | 1,675,000
Investments | 5 | 602,811 |  | 564,762
|  | 2,897,811 |  | 2,239,914
Current assets |  |  |  |
Debtors | 6 | 52,678 |  | 37,745
Cash at bank and in hand |  | 388,322 |  | 346,199
|  | 441,000 |  | 383,944
Creditors: amounts falling due within one year | 7 | ( 62,807) |  | ( 58,468)
Net current assets |  | 378,193 |  | 325,476
Total assets less current liabilities |  | 3,276,004 |  | 2,565,390
Provision for liabilities | 8 | ( 396,732) |  | ( 227,224)
Net assets |  | 2,879,272 |  | 2,338,166
Capital and reserves |  |  |  |
Called-up share capital | 9 | 900 |  | 900
Revaluation reserve |  | 1,500,550 |  | 924,700
Capital redemption reserve |  | 100 |  | 100
Profit and loss account |  | 1,377,722 |  | 1,412,466
Total shareholder's funds |  | 2,879,272 |  | 2,338,166

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges 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 Culloden Builders Limited (registered number: SC080236) were approved and authorised for issue by the Director on 30 July 2026. They were signed on its behalf by:

Shani Urquhart Director |

CULLODEN BUILDERS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026
CULLODEN BUILDERS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026

##### 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

Culloden Builders 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 Pollensa, Blackpark, Inverness, IV3 8PW, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation 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 £.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### 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.

##### 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:

Fixtures and fittings | 5 years straight line
Computer equipment | 3 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.

##### 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.

##### 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.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

##### 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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

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.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2026 |  | 2025
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 2 |  | 2

#### 3. Tangible assets

| Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 April 2025 | 657 |  | 3,012 |  | 3,669
At 31 March 2026 | 657 |  | 3,012 |  | 3,669
Accumulated depreciation |  |  |  |  |
At 01 April 2025 | 657 |  | 2,860 |  | 3,517
Charge for the financial year | 0 |  | 152 |  | 152
At 31 March 2026 | 657 |  | 3,012 |  | 3,669
Net book value |  |  |  |  |
At 31 March 2026 | 0 |  | 0 |  | 0
At 31 March 2025 | 0 |  | 152 |  | 152

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 April 2025 | 1,675,000
Fair value movement | 620,000
As at 31 March 2026 | 2,295,000

On 9 February 2026 the company's investment properties were valued by Shepherd Chartered Surveyors at an open market value of £2,295,000.
The director believes that the value of £2,295,000 is an appropriate valuation as at 31 March 2026.

#### 5. Fixed asset investments

| Listed investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 April 2025 | 564,762 |  | 564,762
Additions | 17,267 |  | 17,267
Disposals | ( 1,715) |  | ( 1,715)
Movement in fair value | 22,497 |  | 22,497
At 31 March 2026 | 602,811 |  | 602,811
Carrying value at 31 March 2026 | 602,811 |  | 602,811
Carrying value at 31 March 2025 | 564,762 |  | 564,762

#### 6. Debtors

| 2026 |  | 2025
| £ |  | £
Trade debtors | 4,172 |  | 8,180
Corporation tax | 27,021 |  | 22,241
Other debtors | 21,485 |  | 7,324
| 52,678 |  | 37,745

#### 7. Creditors: amounts falling due within one year

| 2026 |  | 2025
| £ |  | £
Taxation and social security | 24,008 |  | 23,344
Other creditors | 38,799 |  | 35,124
| 62,807 |  | 58,468

#### 8. Provision for liabilities

| 2026 |  | 2025
| £ |  | £
Deferred tax | 396,732 |  | 227,224

#### 9. Called-up share capital

| 2026 |  | 2025
| £ |  | £
Allotted, called-up and fully-paid |  |  |
900 Ordinary shares of £ 1.00 each | 900 |  | 900

#### 10. Related party transactions

Transactions with the entity's director

| 2026 |  | 2025
| £ |  | £
Director (amounts owed by director) | 15,996 |  | 1,835

At the beginning of the year the director owed the business £1,835. During the year £17,169 was advanced and £3,008 was repaid resulting in a closing balance of £15,996 being owed to the business by the director.
This loan is unsecured, interest free and has no fixed terms of repayment.

Other related party transactions

| 2026 |  | 2025
| £ |  | £
Other related parties (amounts owed by) | 5,489 |  | 5,489

This balance is unsecured, interest free and has no fixed terms of repayment.