ACCOUNTS - Final Accounts preparation

Registered number: SC539053

DALES FARMS (SCOTLAND) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025


DALES FARMS (SCOTLAND) LIMITED

COMPANY INFORMATION

Directors	C E Antczak
	M J Nicol


Registered number	SC539053


Registered office	Ker-An House
	Wellington Circle
	Altens
	Aberdeen
	AB12 3JG


Accountants	AAB
	Kingshill View
	Prime Four Business Park
	Kingswells
	Aberdeen
	AB15 8PU


DALES FARMS (SCOTLAND) LIMITED

CONTENTS

	Page
Directors' responsibilities statement	1
Balance sheet	2 - 3
Notes to the financial statements	4 - 11


DALES FARMS (SCOTLAND) LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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DALES FARMS (SCOTLAND) LIMITED REGISTERED NUMBER:SC539053

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		1,274,550		1,124,740
			1,274,550		1,124,740
Current assets
Stocks	5	370,238		352,598
Debtors: amounts falling due within one year	6	69,912		44,100
Cash at bank	7	35,319		21,672
		475,469		418,370
Creditors: amounts falling due within one year	8	(2,293,929)		(1,841,413)
Net current liabilities			(1,818,460)		(1,423,043)
Total assets less current liabilities			(543,910)		(298,303)

Net liabilities			(543,910)		(298,303)

Capital and reserves
Called up share capital	10	1	1
Profit and loss account		(543,911)	(298,304)
		(543,910)	(298,303)

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DALES FARMS (SCOTLAND) LIMITED REGISTERED NUMBER:SC539053

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

C E Antczak

Director

Date: 11 August 2026

The notes on pages 4 to 11 form part of these financial statements.

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DALES FARMS (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Dales Farms Scotland is a limited liability company incorporated in Scotland. The registered office is Ker-An House, Wellington Circle, Altens, Aberdeen AB12 3JG.

The principal activity of the company in the year under review is the running of farms.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The directors, having made due and careful enquiry, are of the opinion that the Company has adequate working capital to execute its operations over the next 12 months. The company has net liabilities of £543,910 as at 31 December 2025 which includes £2,103,761 owed to its parent company. The parent company has confirmed that it will continue to support the company and will not seek repayment of this liability to the detriment of the company. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.

As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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DALES FARMS (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-	2% straight line
Plant and machinery	-	5 year straight line
Motor vehicles	-	20% straight line
Fixtures and fittings	-	10 years straight line
Office equipment	-	3 years straight line
Tenants improvements	-	15 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Stocks

Stocks are held at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

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DALES FARMS (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

Pensions

Defined contribution pension plan

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

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DALES FARMS (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.12

Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

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

3.	Average number of employees

The average monthly number of employees, including directors, during the period was 2 (2024 - 2).

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		DALES FARMS (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment	Other fixed assets	Total
	£	£	£	£	£	£	£
Cost or valuation
At 1 January 2025	784,868	564,004	115,326	35,184	113,100	239,444	1,851,926
Additions	-	23,000	-	1,869	1,737	199,117	225,723
At 31 December 2025	784,868	587,004	115,326	37,053	114,837	438,561	2,077,649
Depreciation
At 1 January 2025	98,836	314,011	28,449	17,914	112,869	155,107	727,186
Charge for the year on owned assets	15,730	36,150	7,726	1,638	231	14,438	75,913
At 31 December 2025	114,566	350,161	36,175	19,552	113,100	169,545	803,099
Net book value
At 31 December 2025	670,302	236,843	79,151	17,501	1,737	269,016	1,274,550
At 31 December 2024	686,032	249,993	86,877	17,270	231	84,337	1,124,740

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DALES FARMS (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.Tangible fixed assets (continued)

The net book value of land and buildings may be further analysed as follows:
	2025	2024
	£	£

Long leasehold	670,302	686,032
	670,302	686,032

5.	Stocks
		2025	2024
		£	£

Stocks	370,238	352,598
	370,238	352,598

Debtors

					2025	2024
					£	£


Trade debtors	724	15,176
Amounts owed by related undertakings	5,034	2,334
Other debtors	54,192	15,591
Prepayments	9,962	10,999
	69,912	44,100

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	35,319	21,672
	35,319	21,672

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DALES FARMS (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	169,990	22,203
Amounts owed to group undertakings	2,103,761	1,800,000
Amounts owed to other related undertakings	7,200	7,209
Other creditors	559	559
Accruals and deferred income	12,419	11,442
	2,293,929	1,841,413

9.	Financial instruments
		2025	2024
		£	£

	Financial assets
	Financial assets measured at amortised cost	35,319	21,672

Financial assets measured at amortised cost comprises cash at bank.

10.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary Shares share of £1.00	1	1

11.	Related party transactions
	The company has taken advantage of the exemption in FRS102 Paragraph 1AC.35 and has therefore not disclosed details of the transactions with other group companies. During the year the company has received recharges of £631 (2024 - £19,133) from companies with common directors. As at 31 December 2025 the net amount owed to these companies was £2,166 (2024 - £4,875).

12.	Post balance sheet events

Post year end the company has sold its stocks and certain fixed assets and has entered into a lease arrangement regarding the operation of the farm.

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DALES FARMS (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

13.	Controlling party

The ultimate parent company of Dales Farms (Scotland) Limited is Ker-an Properties Limited. The company is ultimately controlled by the director, Mr M J Nicol.

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