Ashleybank Investments Limited - Limited company accounts 25.1

ASHLEYBANK INVESTMENTS LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Notes to the Consolidated Financial Statements

8

DIRECTORS:

A A Stevenson

D D Stevenson

Ms K S Stevenson

SECRETARY:

J Hilditch

REGISTERED OFFICE:

Ashley Bank House

Langholm

Dumfriesshire

DG13 0AN

REGISTERED NUMBER:

SC047360 (Scotland)

ACCOUNTANTS:

JRW Hogg & Thorburn LLP

Chartered Accountants

19 Buccleuch Street

Hawick

Roxburghshire

TD9 0HL

The directors present their report with the financial statements of the company and the group for the year ended 31st December 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2025 to the date of this report.

A A Stevenson

D D Stevenson

Ms K S Stevenson

INVESTMENT PROPERTY

FRS102 requires Investment Property to be stated at fair value. As a result of ongoing worldwide events and the exceptional circumstances of the UK commercial property market, there continues to be material uncertainty relating to valuations of UK commercial property. As a result the directors have not had the company's properties revalued in these accounts and so the valuation requirements of section 16 of FRS102 have not been met.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

J Hilditch - Secretary

30th July 2026

TURNOVER

77,189

116,187

Cost of sales

10,025

18,232

GROSS PROFIT

67,164

97,955

Administrative expenses

686,525

537,970

(619,361

)

(440,015

)

Other operating income

-

309

OPERATING LOSS

4

(619,361

)

(439,706

)

Profit/(loss) on sale of Properties

5

224,456

547,870

(394,905

)

108,164

Income from fixed asset investments

751,082

686,859

Interest receivable and similar income

384,587

1,501,504

1,135,669

2,188,363

740,764

2,296,527

Realised and unrealised gain/

(loss) on revaluation of

investments

4,276,670

1,903,647

5,017,434

4,200,174

Interest payable and similar expenses

27,696

388

PROFIT BEFORE TAXATION

4,989,738

4,199,786

Tax on profit

6

1,839,488

606,495

PROFIT FOR THE FINANCIAL
YEAR

3,150,250

3,593,291

Profit attributable to:

Owners of the parent

3,150,250

3,593,291

FIXED ASSETS

Tangible assets

8

642,563

900,632

Investments

9

52,411,692

53,485,906

53,054,255

54,386,538

CURRENT ASSETS

Debtors

10

147,922

219,274

Cash at bank and in hand

26,954,507

21,678,292

27,102,429

21,897,566

CREDITORS

Amounts falling due within one year

11

383,106

342,026

NET CURRENT ASSETS

26,719,323

21,555,540

TOTAL ASSETS LESS CURRENT
LIABILITIES

79,773,578

75,942,078

PROVISIONS FOR LIABILITIES

2,700,000

1,400,000

NET ASSETS

77,073,578

74,542,078

CAPITAL AND RESERVES

Called up share capital

16,500

Capital redemption reserve

7,523

Retained earnings

77,049,555

74,518,055

SHAREHOLDERS' FUNDS

77,073,578

74,542,078

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31st December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30th July 2026 and were signed on its behalf by:

D D Stevenson - Director

FIXED ASSETS

Tangible assets

8

72,970

126,577

Investments

9

53,197,349

54,271,563

53,270,319

54,398,140

CURRENT ASSETS

Debtors

10

96,610

206,164

Cash at bank

25,297,738

20,195,460

25,394,348

20,401,624

CREDITORS

Amounts falling due within one year

11

883,998

676,151

NET CURRENT ASSETS

24,510,350

19,725,473

TOTAL ASSETS LESS CURRENT
LIABILITIES

77,780,669

74,123,613

PROVISIONS FOR LIABILITIES

2,700,000

1,400,000

NET ASSETS

75,080,669

72,723,613

CAPITAL AND RESERVES

Called up share capital

16,500

Capital redemption reserve

7,523

Retained earnings

75,056,646

72,699,590

SHAREHOLDERS' FUNDS

75,080,669

72,723,613

Company's profit for the financial year

2,975,806

5,136,131

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30th July 2026 and were signed on its behalf by:

D D Stevenson - Director

1.	STATUTORY INFORMATION

Ashleybank Investments 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 General 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.

Turnover

The company provides management services as well as renting out commercial properties.

For management services, revenue is recognised in the accounting period in which the services are rendered when the outcome of the contract can be measured reliably. Rental income is recognised in the accounting period to which the rent relates.

For investment income, dividends from equities are accounted for on the ex-dividend date and all other investment income is credited in the period in which it is receivable.

Revenue is measured at the fair value of the transaction excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

FRS requires Investment Property to be stated at fair value. As explained in the report of the directors this has not been possible therefore the Investment Property is stated at cost less depreciation.

Depreciation is provided at the annual rates below to write off the cost of each asset evenly over its estimated useful life. Depreciation is only provided on freehold buildings where the Directors consider that the remaining useful life is less than fifty years. Provision for depreciation on long leasehold properties with over fifty years to run and freehold buildings where the estimated life exceeds fifty years is not considered necessary as it is the Group's policy to maintain its properties in good condition which prolongs their useful life and any depreciation involved would not be material. Depreciation is however provided on modernisation costs which enhance their value for a finite period and the costs of repairs and maintenance are charged to profit and loss account in the year in which they are incurred.

Freehold Land and Buildings

- Nil

Leasehold Land and Buildings over 50 years

- 2% over last 50 years of lease

Modernisation Costs of Buildings

- 5% ot 12.5%

Equipment and Vehicles

- 25%, 20% or 12.5%

Financial assets

Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.

At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Consolidated Income Statement.

Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date or if appropriate at the forward contract date. All differences are taken to the consolidated income statement.

Pension costs

The group operates defined contribution pension schemes. The costs of the defined contribution schemes are charged to the consolidated income statement in the period in which incurred.

Investments

Investments are shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is transferred to the consolidated income statement.

Investments in subsidiary undertakings are recognised at cost.

Operating leases

Ground rents payable are charged to the consolidated income statement in the period to which they are attributable.

Going concern

The directors have considered the potential impact of ongoing worldwide events on the business and are satisfied that the company has sufficient cash reserves to meet all financial obligations for the foreseeable future. The Accounts have therefore been prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 10 (2024 - 10 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

Depreciation - owned assets

4,247

5,473

5.	EXCEPTIONAL ITEMS

2025

2024

£

Profit/(loss) on sale of Properties

224,456

547,870

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

Current tax:

UK corporation tax

403,000

354,000

Under/(over) provision in prior year

136,488

152,495

Total current tax

539,488

506,495

Deferred tax

1,300,000

100,000

Tax on profit

1,839,488

606,495

7.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

8.	TANGIBLE FIXED ASSETS

Group

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1st January 2025

1,071,271

104,767

1,176,038

Additions

-

4,034

Disposals

(257,856

)

-

(257,856

)

At 31st December 2025

813,415

108,801

922,216

DEPRECIATION

At 1st January 2025

178,617

96,789

275,406

Charge for year

-

4,247

At 31st December 2025

178,617

101,036

279,653

NET BOOK VALUE

At 31st December 2025

634,798

7,765

642,563

At 31st December 2024

892,654

7,978

900,632

Company

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1st January 2025

127,265

104,768

232,033

Additions

-

4,034

Disposals

(53,394

)

-

(53,394

)

At 31st December 2025

73,871

108,802

182,673

DEPRECIATION

At 1st January 2025

8,668

96,788

105,456

Charge for year

-

4,247

At 31st December 2025

8,668

101,035

109,703

NET BOOK VALUE

At 31st December 2025

65,203

7,767

72,970

At 31st December 2024

118,597

7,980

126,577

9.	FIXED ASSET INVESTMENTS

Group

Company

2025

2024

2025

2024

£

Other investments not loans

52,411,692

53,485,906

53,197,349

54,271,563

Additional information is as follows:

Group

Listed

Unlisted

investments

Totals

£

COST OR VALUATION

At 1st January 2025

27,786,604

25,699,302

53,485,906

Additions

1,306,085

2,908,607

4,214,692

Disposals

(6,882,339

)

(2,683,236

)

(9,565,575

)

Revaluations

2,532,142

1,744,527

4,276,669

At 31st December 2025

24,742,492

27,669,200

52,411,692

NET BOOK VALUE

At 31st December 2025

24,742,492

27,669,200

52,411,692

At 31st December 2024

27,786,604

25,699,302

53,485,906

Cost or valuation at 31st December 2025 is represented by:

Listed

Unlisted

investments

Totals

£

Valuation in 2025

24,742,492

27,669,200

52,411,692

Company

Listed

Unlisted

investments

Totals

£

COST OR VALUATION

At 1st January 2025

27,786,604

25,699,302

53,485,906

Additions

1,306,085

2,908,607

4,214,692

Disposals

(6,882,339

)

(2,683,236

)

(9,565,575

)

Revaluations

2,532,142

1,744,527

4,276,669

At 31st December 2025

24,742,492

27,669,200

52,411,692

NET BOOK VALUE

At 31st December 2025

24,742,492

27,669,200

52,411,692

At 31st December 2024

27,786,604

25,699,302

53,485,906

Cost or valuation at 31st December 2025 is represented by:

Listed

Unlisted

investments

Totals

£

Valuation in 2025

24,742,492

27,669,200

52,411,692

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

Shares in subsidiary undertakings

785,657

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Eskvale Properties Limited

Registered office:

Nature of business: Property rental

%

Class of shares:

holding

Ordinary

100.00

Eskland Limited

Registered office:

Nature of business: Property rental

%

Class of shares:

holding

Ordinary

100.00

ABI Ground Rents

Registered office:

Nature of business: Property rental

%

Class of shares:

holding

Ordinary

100.00

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2025

2024

2025

2024

£

Trade debtors

224

-

224

-

Other debtors

147,698

219,274

96,386

206,164

147,922

219,274

96,610

206,164

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2025

2024

2025

2024

£

Trade creditors

746

3,600

-

Amounts owed to group undertakings

-

521,980

460,954

Taxation and social security

268,552

227,647

276,099

133,647

Other creditors

113,808

110,779

85,919

81,550

383,106

342,026

883,998

676,151

12.	OTHER FINANCIAL COMMITMENTS

At 31st December 2025, the company had commitments in respect of fixed asset investments amounting to £Nil (2024, £Nil).

13.	RELATED PARTY DISCLOSURES

Acorn Consultants Limited was related to the company by virtue of a nucleus of common directors and shareholders. This company provides certain executive management services to Ashleybank Investments Limited. Amounts totalling £100,000 (2024, £100,000) was paid to the company in respect of such services.