Company No: SC124718 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Current assets
Stocks	3	2,674,802		2,657,003
Debtors	4	98,417		70,917
Cash at bank and in hand	5	18,637		12,619
		2,791,856		2,740,539
Creditors: amounts falling due within one year	6	( 1,207,633)		( 1,028,949)
Net current assets		1,584,223		1,711,590
Total assets less current liabilities		1,584,223		1,711,590
Net assets		1,584,223		1,711,590
Capital and reserves
Called-up share capital	7	10,000		10,000
Profit and loss account		1,574,223		1,701,590
Total shareholders' funds		1,584,223		1,711,590

For the financial year ending 31 March 2026 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 Inchmarlo Farms Limited (registered number: SC124718) were approved and authorised for issue by the Board of Directors on 05 October 2026. They were signed on its behalf by:

Colin Alexander Wilson 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

Inchmarlo 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 18 Bon-Accord Crescent, Aberdeen, AB11 6XY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents the amount received or receivable from the provision of property development services.

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

Stocks

Work in progress is recognised at cost incurred on work completed to date. Cost includes materials, direct labour and, where applicable, an attributable proportion of overheads that have been incurred in bringing the work to its present location and condition.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets.

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 bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

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, including creditors and loans from fellow group companies are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.

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

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Stocks

	2026		2025
	£		£
Work in progress	2,674,802		2,657,003

4. Debtors

	2026		2025
	£		£
Other debtors	98,417		70,917

Other debtors include an amount of £70,917 (2025: £70,917) which is due from group undertakings.

5. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	18,637		12,619

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	1,409		13,518
Amounts owed to Group undertakings	211,532		233,532
Other taxation and social security	1,930		8,700
Other creditors	992,762		773,199
	1,207,633		1,028,949

Other creditors include loans of £984,173 in which security in form of standard security and floating charge, is provided against land at Inchmarlo Home farm. There is also a floating charge over all of the company including uncalled capital, property, assets and rights. Part of the loan is capable of conversion into ordinary shares at the discretion of the company and lender.

7. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each	10,000		10,000

8. Related party transactions

Transactions with owners holding a participating interest in the entity

	2026		2025
	£		£
Amount due to related party at the year end	211,532		233,532
Amount due from related party at the year end	70,917		70,917