Company No: SC392573 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Investment property	4	2,323,646		2,874,783
Investments	5	511,027		0
		2,834,673		2,874,783
Current assets
Debtors	6	4,343		2,878
Cash at bank and in hand	7	112,456		39,876
		116,799		42,754
Creditors: amounts falling due within one year	8	( 70,043)		( 68,475)
Net current assets/(liabilities)		46,756		(25,721)
Total assets less current liabilities		2,881,429		2,849,062
Creditors: amounts falling due after more than one year	9	( 1,606,800)		( 1,645,755)
Provision for liabilities	10, 11	( 11,288)		( 11,607)
Net assets		1,263,341		1,191,700
Capital and reserves
Called-up share capital	12	220		220
Revaluation reserve		265,894		317,933
Profit and loss account		997,227		873,547
Total shareholders' funds		1,263,341		1,191,700

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 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 Cottesmore Limited (registered number: SC392573) were approved and authorised for issue by the Board of Directors on 06 August 2026. They were signed on its behalf by:

Mrs N Flynn 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

Cottesmore 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 Kedlock House, Cupar, KY15 4PY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for property rental.

Rental income is recognised on a straight line basis over the term of the lease.

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, 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:

Plant and machinery etc.

5 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 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).

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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 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 and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, 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	4		4

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 February 2025	28,790		28,790
Disposals	( 8,723)		( 8,723)
At 31 January 2026	20,067		20,067
Accumulated depreciation
At 01 February 2025	28,790		28,790
Disposals	( 8,723)		( 8,723)
At 31 January 2026	20,067		20,067
Net book value
At 31 January 2026	0		0
At 31 January 2025	0		0

4. Investment property

	Investment property
	£
Valuation
As at 01 February 2025	2,874,783
Additions	8,863
Disposals	(560,000)
As at 31 January 2026	2,323,646

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 January 2026 by the directors. The valuation was made on an open market basis. The directors consider there has been no material change in value since that date.

5. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 February 2025	0		0
Additions	511,027		511,027
At 31 January 2026	511,027		511,027
Carrying value at 31 January 2026	511,027		511,027
Carrying value at 31 January 2025	0		0

6. Debtors

	2026		2025
	£		£
Trade debtors	4,004		0
Other debtors	339		2,878
	4,343		2,878

7. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	112,456		39,876

8. Creditors: amounts falling due within one year

	2026		2025
	£		£
Taxation and social security	19,273		23,887
Other creditors	50,770		44,588
	70,043		68,475

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

	2026		2025
	£		£
Other creditors	1,606,800		1,645,755

There are no amounts included above in respect of which any security has been given by the small entity.

10. Provision for liabilities

	2026		2025
	£		£
Deferred tax	11,288		11,607

11. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 11,607)		( 11,607)
Credited to the Profit and Loss Account	319		0
At the end of financial year	( 11,288)		( 11,607)

12. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
55 A Ordinary shares of £ 1.00 each	55		55
55 B Ordinary shares of £ 1.00 each	55		55
55 C Ordinary shares of £ 1.00 each	55		55
40 D Ordinary shares of £ 1.00 each	40		40
5 E Ordinary shares of £ 1.00 each	5		5
5 F Ordinary shares of £ 1.00 each	5		5
5 G Ordinary shares of £ 1.00 each	5		5
	220		220

13. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Loans from directors	1,556,594		1,548,861

Included within amounts due to directors is £1,556,594 (2025 - £1,548,861 ) classified as due over 1 year. £1,185,000 of these loans apply interest at a rate of 5% with the remainder of the loans being interest free. All of these loans are unsecured.

Other related party transactions

	2026		2025
	£		£
Loans from other related parties	92,206		132,894

Included within amounts due to other related parties is £50,206 (2025 - £96,894) classified as due over 1 year. These loans are interest free and unsecured.