Company No: SC745908 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	13,897,841		8,841,756
Investments	4	100		100
		13,897,941		8,841,856
Current assets
Debtors	5	731,492		516,965
Cash at bank and in hand		932,078		2,016,805
		1,663,570		2,533,770
Creditors: amounts falling due within one year	6	( 3,328,540)		( 1,444,674)
Net current (liabilities)/assets		(1,664,970)		1,089,096
Total assets less current liabilities		12,232,971		9,930,952
Creditors: amounts falling due after more than one year	7	( 5,500,000)		( 3,000,000)
Net assets		6,732,971		6,930,952
Capital and reserves
Called-up share capital	8	1,000		1,000
Share premium account		6,999,500		6,999,500
Profit and loss account		( 267,529 )		( 69,548 )
Total shareholders' funds		6,732,971		6,930,952

For the financial year ending 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of The Grahamslaw Distillery Hold Co Limited (registered number: SC745908) were approved and authorised for issue by the Board of Directors on 24 August 2026. They were signed on its behalf by:

Mr S D Lang 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

The Grahamslaw Distillery Hold Co 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 C/O Johnston Carmichael, 7-11 Melville Street, Edinburgh, EH3 7PE, 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Assets under construction	not depreciated
Plant and machinery	4 years straight line
Computer equipment	4 years straight line

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Assets under construc- tion		Plant and machinery		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2025	0		7,633,925		1,207,158		1,959		8,843,042
Additions	3,418,002		0		1,841,811		3,648		5,263,461
Disposals	0		0		( 3,460)		0		( 3,460)
Transfers	4,260,196		( 7,633,925)		3,170,393		0		( 203,336)
At 31 December 2025	7,678,198		0		6,215,902		5,607		13,899,707
Accumulated depreciation
At 01 January 2025	0		0		937		349		1,286
Charge for the financial year	0		0		81		499		580
At 31 December 2025	0		0		1,018		848		1,866
Net book value
At 31 December 2025	7,678,198		0		6,214,884		4,759		13,897,841
At 31 December 2024	0		7,633,925		1,206,221		1,610		8,841,756

4. Fixed asset investments

	2025		2024
	£		£
Subsidiary undertakings	100		100

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	100
At 31 December 2025	100
Carrying value at 31 December 2025	100
Carrying value at 31 December 2024	100

5. Debtors

	2025		2024
	£		£
Amounts owed by own subsidiaries	634,591		220,118
Other debtors	96,901		296,847
	731,492		516,965

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	1,668,806		667,248
Other creditors	1,659,734		777,426
	3,328,540		1,444,674

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

	2025		2024
	£		£
Other creditors	5,500,000		3,000,000

There are no amounts included above in respect of which any security has been given by the small entity. Interest is being charged annually at 0.4% above the 10-year Euro Swap rate up to a maximum of 3.25%.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000