Company No: SC362516 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	4,411		8,713
Investment property	4	310,266		760,266
		314,677		768,979
Current assets
Debtors	5	378		6,896
Cash at bank and in hand	6	385,108		5,795
		385,486		12,691
Creditors: amounts falling due within one year	7	( 235,672)		( 255,800)
Net current assets/(liabilities)		149,814		(243,109)
Total assets less current liabilities		464,491		525,870
Creditors: amounts falling due after more than one year	8	( 20,644)		( 26,673)
Provision for liabilities	9, 10	0		( 40,990)
Net assets		443,847		458,207
Capital and reserves
Called-up share capital	11	100		100
Revaluation reserve		0		143,851
Profit and loss account		443,747		314,256
Total shareholders' funds		443,847		458,207

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.

Director's 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 director acknowledges 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 Pure Independence UK Limited (registered number: SC362516) were approved and authorised for issue by the Director on 15 October 2026. They were signed on its behalf by:

James Stephen Foster 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

Pure Independence UK 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 Unit 1 Old Brechin Road, Forfar, DD8 3DX, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and to include investment properties and 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

These financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more adequate for the company's needs. The director has agreed to provide financial assistance to the company to ensure that all liabilities are met as they fall due and he will not seek repayments due to him until there are sufficient cash reserves to do so. The director has considered a period of twelve months from the date of approval of the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

Turnover

Rental income is recognised on a straight line basis over the term of the lease.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

3 - 6 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans loans 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2025	28,632		28,632
Disposals	( 22,015)		( 22,015)
At 31 March 2026	6,617		6,617
Accumulated depreciation
At 01 April 2025	19,919		19,919
Charge for the financial year	1,882		1,882
Disposals	( 19,595)		( 19,595)
At 31 March 2026	2,206		2,206
Net book value
At 31 March 2026	4,411		4,411
At 31 March 2025	8,713		8,713

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	760,266
Disposals	(450,000)
As at 31 March 2026	310,266

Valuation

Investment property at 31 March 2026 comprises of a Spanish property purchased in 2013 .The fair value of the investment property held by the company has been arrived at on the basis of a valuation carried out on 31 March 2026 by the director. The valuation was made on an open market basis by reference to market evidence of the transaction prices for similar properties.

5. Debtors

	2026		2025
	£		£
Other debtors	378		6,896

6. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	385,108		5,795

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	6,030		5,882
Taxation and social security	19,010		0
Other creditors	210,632		249,918
	235,672		255,800

Included in Bank loans are amounts relating to a bounce back loan which is covered by a government backed guarantee.

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

	2026		2025
	£		£
Bank loans	20,644		26,673

Included in Bank loans are amounts relating to a bounce back loan which is covered by a government backed guarantee.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2026		2025
	£		£
Bank loans (repayable by instalments)	0		1,624

9. Provision for liabilities

	2026		2025
	£		£
Deferred tax	0		40,990

10. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 40,990)		( 43,296)
Credited to the Profit and Loss Account	40,990		2,306
At the end of financial year	0		( 40,990)

11. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

12. Related party transactions

Transactions with the entity's director

	2026		2025
	£		£
Amounts owed to Directors	206,613		245,798

The loan is unsecured, interest free and has no fixed terms of repayment.