IRIS Accounts Production v26.1.10.61 SC259760 Board of Directors 1.12.24 30.11.25 30.11.25 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC259760 2024-11-30 SC259760 2025-11-30 SC259760 2024-12-01 2025-11-30 SC259760 2023-11-30 SC259760 2023-12-01 2024-11-30 SC259760 2024-11-30 SC259760 ns15:Scotland 2024-12-01 2025-11-30 SC259760 ns14:PoundSterling 2024-12-01 2025-11-30 SC259760 ns10:Director1 2024-12-01 2025-11-30 SC259760 ns10:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 SC259760 ns10:SmallEntities 2024-12-01 2025-11-30 SC259760 ns10:AuditExempt-NoAccountantsReport 2024-12-01 2025-11-30 SC259760 ns10:SmallCompaniesRegimeForDirectorsReport 2024-12-01 2025-11-30 SC259760 ns10:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 SC259760 ns10:FullAccounts 2024-12-01 2025-11-30 SC259760 1 2024-12-01 2025-11-30 SC259760 ns10:Director2 2024-12-01 2025-11-30 SC259760 ns10:Director3 2024-12-01 2025-11-30 SC259760 ns10:CompanySecretary1 2024-12-01 2025-11-30 SC259760 ns10:RegisteredOffice 2024-12-01 2025-11-30 SC259760 ns5:CurrentFinancialInstruments 2025-11-30 SC259760 ns5:CurrentFinancialInstruments 2024-11-30 SC259760 ns5:Non-currentFinancialInstruments 2025-11-30 SC259760 ns5:Non-currentFinancialInstruments 2024-11-30 SC259760 ns5:ShareCapital 2025-11-30 SC259760 ns5:ShareCapital 2024-11-30 SC259760 ns5:CapitalRedemptionReserve 2025-11-30 SC259760 ns5:CapitalRedemptionReserve 2024-11-30 SC259760 ns5:RetainedEarningsAccumulatedLosses 2025-11-30 SC259760 ns5:RetainedEarningsAccumulatedLosses 2024-11-30 SC259760 ns5:NetGoodwill 2024-12-01 2025-11-30 SC259760 ns5:IntangibleAssetsOtherThanGoodwill 2024-12-01 2025-11-30 SC259760 ns5:OwnedOrFreeholdAssets ns5:LandBuildings 2024-12-01 2025-11-30 SC259760 ns5:LeaseholdImprovements 2024-12-01 2025-11-30 SC259760 ns5:PlantMachinery 2024-12-01 2025-11-30 SC259760 ns5:FurnitureFittings 2024-12-01 2025-11-30 SC259760 ns5:MotorVehicles 2024-12-01 2025-11-30 SC259760 ns5:ComputerEquipment 2024-12-01 2025-11-30 SC259760 ns5:NetGoodwill 2024-11-30 SC259760 ns5:NetGoodwill 2025-11-30 SC259760 ns5:NetGoodwill 2024-11-30 SC259760 ns5:LandBuildings 2024-11-30 SC259760 ns5:LeaseholdImprovements 2024-11-30 SC259760 ns5:PlantMachinery 2024-11-30 SC259760 ns5:LandBuildings 2024-12-01 2025-11-30 SC259760 ns5:LandBuildings 2025-11-30 SC259760 ns5:LeaseholdImprovements 2025-11-30 SC259760 ns5:PlantMachinery 2025-11-30 SC259760 ns5:LandBuildings 2024-11-30 SC259760 ns5:LeaseholdImprovements 2024-11-30 SC259760 ns5:PlantMachinery 2024-11-30 SC259760 ns5:FurnitureFittings 2024-11-30 SC259760 ns5:MotorVehicles 2024-11-30 SC259760 ns5:ComputerEquipment 2024-11-30 SC259760 ns5:FurnitureFittings 2025-11-30 SC259760 ns5:MotorVehicles 2025-11-30 SC259760 ns5:ComputerEquipment 2025-11-30 SC259760 ns5:FurnitureFittings 2024-11-30 SC259760 ns5:MotorVehicles 2024-11-30 SC259760 ns5:ComputerEquipment 2024-11-30 SC259760 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-11-30 SC259760 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-11-30 SC259760 ns5:Secured 2025-11-30 SC259760 ns5:Secured 2024-11-30 SC259760 1 2024-12-01 2025-11-30

REGISTERED NUMBER: SC259760 (Scotland)

Mountfair Farming Limited

Unaudited Financial Statements

for the Year Ended 30th November 2025

| Mountfair Farming Limited (Registered number: SC259760) |

Contents of the Financial Statements

for the year ended 30th November 2025

| Page |

| Company Information | 1 |

| Balance Sheet | 2 |  | to |  | 3

| Notes to the Financial Statements | 4 |  | to |  | 8

| Mountfair Farming Limited |

Company Information

for the year ended 30th November 2025

| Directors: | Mrs S Grimsdale

| J Grimsdale

| A Grimsdale

| Secretary: | Mrs S Grimsdale

| Registered office: | Mountfair Farm

| Whitsome

| Duns

| Berwickshire

| TD11 3NF

| Registered number: | SC259760 (Scotland)

| Accountants: | Rennie Welch LLP

| Academy House

| Shedden Park Road

| Kelso

| Roxburghshire

| TD5 7AL

| Mountfair Farming Limited (Registered number: SC259760) |

Balance Sheet

30th November 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

Fixed assets

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 7,812,937 |  | 7,336,386 |  |

7,812,937 |  | 7,336,386 |  |

Current assets

Stocks | 96,471 |  | 150,257 |  |

Debtors | 6 | 1,325,910 |  | 1,544,563 |  |

Cash at bank | 10,212 |  | - |  |

1,432,593 |  | 1,694,820 |  |

Creditors

Amounts falling due within one year | 7 | 685,291 |  | 605,669 |  |

Net current assets | 747,302 |  | 1,089,151 |  |

Total assets less current liabilities | 8,560,239 |  | 8,425,537 |  |

Creditors

Amounts falling due after more than one year | 8 | (4,177,059 | ) | (3,971,056 | ) |

Provisions for liabilities | (834,163 | ) | (823,375 | ) |

Net assets | 3,549,017 |  | 3,631,106 |  |

Capital and reserves

Called up share capital | 69 |  | 69 |  |

Capital redemption reserve | 31 |  | 31 |  |

Retained earnings | 3,548,917 |  | 3,631,006 |  |

3,549,017 |  | 3,631,106 |  |

| Mountfair Farming Limited (Registered number: SC259760) |

Balance Sheet - continued

30th November 2025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th July 2026 and were signed on its behalf by:

J Grimsdale - Director

| Mountfair Farming Limited (Registered number: SC259760) |

Notes to the Financial Statements

for the year ended 30th November 2025

1. | Statutory information

| Mountfair Farming 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 Company 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.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover arising from the provision of services is recognised over the life of the contract as the performance obligations are satisfied.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of the business in 2004, has been fully amortised over it's estimated useful life of ten years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Freehold property | - | not provided

| Improvements to property | - | 5% on cost

| Plant and machinery | - | 15% on reducing balance and 10% on cost

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 20% on reducing balance

| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

| Freehold property is not being depreciated and is stated at historical cost.

| Stocks

| Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

| Mountfair Farming Limited (Registered number: SC259760) |

Notes to the Financial Statements - continued

for the year ended 30th November 2025

2. | Accounting policies - continued

| Financial instruments

| The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, hire purchase contracts, bank loans, bank overdrafts and directors' loans.

| Bank loans and hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

| Directors' loans (being repayable on demand), bank overdrafts, trade debtors, accruals and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

| Financial assets that are measured at amortised cost 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 Income and Retained Earnings.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

| Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Provisions

| Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

| Mountfair Farming Limited (Registered number: SC259760) |

Notes to the Financial Statements - continued

for the year ended 30th November 2025

2. | Accounting policies - continued

| Employee benefits

| Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

| Going concern

| The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. | Employees and directors

| The average number of employees during the year was 5 (2024 - 5 ) .

4. | Intangible fixed assets

| Goodwill

£ |

| Cost

| At 1st December 2024

| and 30th November 2025 | 150,000 |  |

| Amortisation

| At 1st December 2024

| and 30th November 2025 | 150,000 |  |

| Net book value

| At 30th November 2025 | - |  |

| At 30th November 2024 | - |  |

5. | Tangible fixed assets

| Improvements |

| Freehold |  | to |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| Cost

| At 1st December 2024 | 3,520,432 |  | 882,121 |  | 5,104,872 |  |

| Additions | 294,050 |  | 324,877 |  | 704,936 |  |

| Disposals | - |  | - |  | (715,117 | ) |

| At 30th November 2025 | 3,814,482 |  | 1,206,998 |  | 5,094,691 |  |

| Depreciation

| At 1st December 2024 | - |  | 359,666 |  | 1,858,485 |  |

| Charge for year | - |  | 43,371 |  | 408,621 |  |

| Eliminated on disposal | - |  | - |  | (323,989 | ) |

| At 30th November 2025 | - |  | 403,037 |  | 1,943,117 |  |

| Net book value

| At 30th November 2025 | 3,814,482 |  | 803,961 |  | 3,151,574 |  |

| At 30th November 2024 | 3,520,432 |  | 522,455 |  | 3,246,387 |  |

| Mountfair Farming Limited (Registered number: SC259760) |

Notes to the Financial Statements - continued

for the year ended 30th November 2025

5. | Tangible fixed assets - continued

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| Cost

| At 1st December 2024 | - |  | 56,113 |  | 5,334 |  | 9,568,872 |  |

| Additions | 8,594 |  | - |  | - |  | 1,332,457 |  |

| Disposals | - |  | - |  | - |  | (715,117 | ) |

| At 30th November 2025 | 8,594 |  | 56,113 |  | 5,334 |  | 10,186,212 |  |

| Depreciation

| At 1st December 2024 | - |  | 13,134 |  | 1,201 |  | 2,232,486 |  |

| Charge for year | - |  | 10,745 |  | 2,041 |  | 464,778 |  |

| Eliminated on disposal | - |  | - |  | - |  | (323,989 | ) |

| At 30th November 2025 | - |  | 23,879 |  | 3,242 |  | 2,373,275 |  |

| Net book value

| At 30th November 2025 | 8,594 |  | 32,234 |  | 2,092 |  | 7,812,937 |  |

| At 30th November 2024 | - |  | 42,979 |  | 4,133 |  | 7,336,386 |  |

6. | Debtors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Trade debtors | 1,074,322 |  | 1,292,279 |  |

| Other debtors | 251,588 |  | 252,284 |  |

1,325,910 |  | 1,544,563 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 52,750 |  | 110,363 |  |

| Hire purchase contracts | 222,378 |  | 211,250 |  |

| Trade creditors | 252,991 |  | 120,741 |  |

| Taxation and social security | 71,876 |  | 118,996 |  |

| Other creditors | 85,296 |  | 44,319 |  |

685,291 |  | 605,669 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans | 3,693,521 |  | 3,552,306 |  |

| Hire purchase contracts | 483,538 |  | 418,750 |  |

4,177,059 |  | 3,971,056 |  |

| Mountfair Farming Limited (Registered number: SC259760) |

Notes to the Financial Statements - continued

for the year ended 30th November 2025

9. | Secured debts

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank overdraft | - |  | 60,363 |  |

| Bank loans | 3,746,271 |  | 3,602,306 |  |

| Hire purchase contracts | 705,916 |  | 630,000 |  |

4,452,187 |  | 4,292,669 |  |

| The Royal Bank of Scotland hold a floating charge over the all the property or undertaking of the company.

| The Agricultural Mortgage Corporation PLC hold a floating charge over the all the property or undertaking of the company.

| Hire purchase contracts are secured against the assets to which they relate.

10. | Post balance sheet events

| Since the year end, on 8th June 2026, the following dividends have been declared:

| - £2,941.17 per Ordinary B share

| - £2,352.94 per Ordinary C share

11. | Directors advances, credits and guarantees

| The following advances and credits to a director subsisted during the years ended 30th November 2024 and 30th November 2025:

|  | 2025 |  | 2024 |  |  |

| Director 1 |  |

| Balance outstanding at start of period |  | 171,952 |  | 164,281 |  |

| Amounts advanced |  | 55,870 |  | 37,671 |  |

| Amounts repaid |  | (54,000 | ) | (30,000 | ) |

| Balance outstanding at end of period |  | 173,822 |  | 171,952 |  |

| Director 2 |  |

| Balance outstanding at start of period |  | - |  | - |  |

| Amounts advanced |  | 33,539 |  | - |  |

| Amounts repaid |  | (31,000 | ) | - |  |

| Balance outstanding at end of period |  | 2,539 |  | - |  |

| These loans are unsecured and are repayable on demand. Interest has been charged at the official rates published by HMRC.