Company No: SC788461 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	30.11.2025		30.11.2024
		£		£
Fixed assets
Intangible assets	3	12,975		0
Tangible assets	4	94,941		0
		107,916		0
Current assets
Stocks	5	19,193		0
Debtors	6	9,130		0
Cash at bank and in hand		26,360		0
		54,683		0
Creditors: amounts falling due within one year	7	( 168,272)		( 4,486)
Net current liabilities		(113,589)		(4,486)
Total assets less current liabilities		(5,673)		(4,486)
Creditors: amounts falling due after more than one year	8	( 41,447)		0
Net liabilities		( 47,120)		( 4,486)
Capital and reserves
Called-up share capital	9	2		2
Profit and loss account		( 47,122 )		( 4,488 )
Total shareholders' deficit		( 47,120)		( 4,486)

For the financial year ending 30 November 2025 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 Vanilla Farms Limited (registered number: SC788461) were approved and authorised for issue by the Board of Directors on 19 August 2026. They were signed on its behalf by:

Gillian Lane 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 period, unless otherwise stated.

General information and basis of accounting

Vanilla Farms 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 Westertown, Rothienorman, Inverurie, AB51 8US, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention 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

At the balance sheet date, the company had net liabilities, reflecting its early stage of development and start up investment requirements. The directors consider this position to be consistent with the company’s current stage of growth. The company continues to receive support from the directors and from a related partnership under common control. Since the year end, the company has begun generating sales and is engaged in positive discussions regarding further sales opportunities and potential additional investment. The directors and the related partnership have confirmed that they will not seek repayment of amounts due to them until the company has sufficient funds available. Accordingly, the directors consider it appropriate to prepare the accounts on a going concern basis.

Reporting period length

Reporting period length is 12 months. The previous periods reporting length was 13 months, therefore the figures are not entirely comparable.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

5 years straight line

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:

Plant and machinery	5 years straight line
Office equipment	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 and intangible 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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

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, which include creditors, are recognised at transaction price.

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.

Grants

Grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	Year ended 30.11.2025		Period from 07.11.2023 to 30.11.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 December 2024	0		0
Additions	12,975		12,975
At 30 November 2025	12,975		12,975
Accumulated amortisation
At 01 December 2024	0		0
At 30 November 2025	0		0
Net book value
At 30 November 2025	12,975		12,975
At 30 November 2024	0		0

4. Tangible assets

	Plant and machinery		Office equipment		Total
	£		£		£
Cost
At 01 December 2024	0		0		0
Additions	96,688		1,083		97,771
At 30 November 2025	96,688		1,083		97,771
Accumulated depreciation
At 01 December 2024	0		0		0
Charge for the financial year	2,680		150		2,830
At 30 November 2025	2,680		150		2,830
Net book value
At 30 November 2025	94,008		933		94,941
At 30 November 2024	0		0		0

5. Stocks

	30.11.2025		30.11.2024
	£		£
Raw materials	19,193		0

6. Debtors

	30.11.2025		30.11.2024
	£		£
Other debtors	9,130		0

7. Creditors: amounts falling due within one year

	30.11.2025		30.11.2024
	£		£
Trade creditors	2,100		0
Amounts owed to directors	18,816		2,486
Other loans	11,053		0
Accruals	101,871		2,000
Other taxation and social security	9,972		0
Other creditors	24,460		0
	168,272		4,486

Other loans include the loan portion of the Scottish Edge grant that was received during the year.

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

	30.11.2025		30.11.2024
	£		£
Other creditors	41,447		0

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

9. Called-up share capital

	30.11.2025		30.11.2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

10. Financial commitments

Other financial commitments

	30.11.2025		30.11.2024
	£		£
Rent commitment	103,058		0

11. Related party transactions

Transactions with the entity's directors

	30.11.2025		30.11.2024
	£		£
Amounts due to directors	18,816		2,486

This amount is interest free and repayable on demand.

Other related party transactions

	30.11.2025		30.11.2024
	£		£
Amounts owed to partnership under common control	20,680		0