REGISTERED NUMBER: SC035177 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Polly Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

9

DIRECTORS:

Mr D E C Davies

Mrs N D Davies

Mrs M E C Kelly

Mrs A E Callus

SECRETARY:

Mrs N D Davies

REGISTERED OFFICE:

Inverpolly

Ullapool

IV26 2YB

REGISTERED NUMBER:

SC035177 (Scotland)

ACCOUNTANTS:

EQ Accountants Limited

9 Ardross Street

Inverness

IV3 5NN

FIXED ASSETS

Tangible assets

4

1,172,218

1,142,619

Investments

5

3,600

3,600

Investment property

6

165,730

167,560

1,341,548

1,313,779

CURRENT ASSETS

Stocks

7

73,282

61,739

Debtors

8

14,225

59,434

Cash at bank

503,399

484,876

590,906

606,049

CREDITORS

Amounts falling due within one year

9

62,691

53,621

NET CURRENT ASSETS

528,215

552,428

TOTAL ASSETS LESS CURRENT LIABILITIES

1,869,763

1,866,207

PROVISIONS FOR LIABILITIES

21,827

20,795

NET ASSETS

1,847,936

1,845,412

CAPITAL AND RESERVES

Called up share capital

10

10,000

10,000

Retained earnings

11

1,837,936

1,835,412

SHAREHOLDERS' FUNDS

1,847,936

1,845,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2026 and were signed on its behalf by:

Mr D E C Davies - Director

1.	STATUTORY INFORMATION

Polly Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

All fixed assets, with the exception of the initial land and buildings, are recorded at cost. The initial land and buildings are recorded at revaluation.

Depreciation is calculated so as to write off the cost or revaluation of an asset, less its estimated residual value, over the useful life of that asset as follows:

Original land and buildings

at revaluation

Ladysmith Street

1% straight line

Building improvements

1% straight line

Sheds and agricultural buildings

4% straight line

Plant and machinery

from 10% to 20% reducing value

Investment property

Investment property is shown at depreciated value.

Stocks

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

Taxation

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

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.

Investments

Investments are stated at cost.

Operating lease agreement

Rental applications to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 January 2025

1,074,465

323,342

1,397,807

Additions

27,307

34,148

61,455

Disposals

-

(27,926

)

(27,926

)

At 31 December 2025

1,101,772

329,564

1,431,336

DEPRECIATION

At 1 January 2025

15,023

240,165

255,188

Charge for year

1,839

24,431

26,270

Eliminated on disposal

-

(22,340

)

(22,340

)

At 31 December 2025

16,862

242,256

259,118

NET BOOK VALUE

At 31 December 2025

1,084,910

87,308

1,172,218

At 31 December 2024

1,059,442

83,177

1,142,619

Included in cost of land and buildings is freehold land of £ 1,041,677 (2024 - £ 1,041,677 ) which is not depreciated.

The valuation of the land and buildings has applied the transitional rules in accordance with Financial Reporting standards for smaller entities.

The directors are of the view that the revaluation figure stated below is significantly below market value but no further revaluation is currently planned. (see Note 1, Accounting Policies, Deferred taxation.)

In respect of certain fixed assets stated at valuations, the comparable historic cost and depreciation are as follows:

2021

2020

£

£

Net book value at end of year

1,041,677

1,041,677

Historic cost

132,249

132,249

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2025

and 31 December 2025

3,600

NET BOOK VALUE

At 31 December 2025

3,600

At 31 December 2024

3,600

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

183,070

DEPRECIATION

At 1 January 2025

15,510

Charge for year

1,830

At 31 December 2025

17,340

NET BOOK VALUE

At 31 December 2025

165,730

At 31 December 2024

167,560

The investment property was last valued in 2021. The directors have assessed that this value is still appropriate in these accounts.

7.

STOCKS

31/12/25

31/12/24

£

£

Cattle Herd

26,300

25,800

Trading Herd

46,982

35,939

73,282

61,739

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Other debtors

14,225

59,434

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Trade creditors

17,862

5,624

Corporation tax

3,007

15,333

Social security and other taxes

703

285

VAT

901

1,267

Other creditors

5,185

4,850

Directors' loan accounts

329

484

Accruals and deferred income

34,704

25,778

62,691

53,621

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/25

31/12/24

value:

£

£

10,000

Ordinary shares

1

10,000

10,000

11.

RESERVES

Retained

earnings

£

At 1 January 2025

1,835,412

Profit for the year

13,024

Dividends

(10,500

)

At 31 December 2025

1,837,936

Included in the retained earnings is £924,670 of revaluation reserve which is non-distributable.

12.	RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken such as require to be disclosed under Financial Reporting standard 8.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of Polly Estates Ltd throughout the year under review and the previous year were: Mr David Davies by way of his directorship; and Mrs Nicola Davies by way of her directorship.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Polly Estates Limited for the year ended 31 December 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Polly Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Polly Estates Limited and state those matters that we have agreed to state to the Board of Directors of Polly Estates Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Polly Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Polly Estates Limited. You consider that Polly Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Polly Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

EQ Accountants Limited

9 Ardross Street

Inverness

IV3 5NN

17 September 2026