REGISTERED NUMBER: SC232984 (Scotland)

Audited Financial Statements for the Year Ended 31 March 2026

for

Edradour Distillery Company Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

12,212,415

12,672,066

CURRENT ASSETS

Stocks

12,576,905

11,328,746

Cash in hand

822

822

12,577,727

11,329,568

CREDITORS

Amounts falling due within one year

5

(193,249

)

(104,226

)

NET CURRENT ASSETS

12,384,478

11,225,342

TOTAL ASSETS LESS CURRENT LIABILITIES

24,596,893

23,897,408

PROVISIONS FOR LIABILITIES

(1,201,229

)

(1,215,965

)

NET ASSETS

23,395,664

22,681,443

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

23,395,662

22,681,441

SHAREHOLDERS' FUNDS

23,395,664

22,681,443

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 director and authorised for issue on 29 October 2026 and were signed by:

Mr A W Symington - Director

1.	STATUTORY INFORMATION

Edradour Distillery Company Limited is a private company, limited by shares, domiciled in Scotland, registration number SC232984. The registered office is Edradour Distillery, Pitlochry, Perthshire, PH16 5JP.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are outlined below.

1. Useful lives of depreciable assets (Property, Plant and Equipment)

Management reviews the useful lives and residual values of depreciable assets at each reporting date, based on the expected utility of the assets. Uncertainties in these estimates relate to technological obsolescence and changes in usage, which could impact future depreciation charges.

2. Impairment of trade receivables

The company estimates the provision for expected credit losses (or impairment) of trade receivables. This requires assumptions regarding the likelihood of collection and the credit risk profile of customers based on past experience and forward-looking economic factors.

3. Inventory valuation and provisions

Management reviews the net realisable value (NRV) of inventory to assess potential impairment. Estimates are applied when determining the selling price less costs to sell, and judgements are required regarding obsolescence, physical damage, and shifting consumer demand.

Turnover

The turnover shown in the profit and loss account represents the value of all goods sold during the period, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer.

Tangible fixed assets and depreciation

Depreciation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the useful economic life of that asset as follows:

Land & Buildings

-

Straight line over 40 years

Plant & Machinery

-

Straight line over 10 to 20 years

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

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

Cost is calculated using the first-in first-out method and includes the normal cost of transporting stock to its present location and condition. Cost includes material and direct labour costs together with an appropriate proportion of production overheads, and excludes interest costs directly relating to the associated funding of stocks. Net realisable value is the anticipated sales proceeds less any costs of disposal.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Basic financial assets (including trade and other debtors, cash and bank balances) and basic financial liabilities (including trade and other creditors) are initially measured at the transaction price. They are subsequently measured at amortized cost using the effective interest method, less any provision for impairment.

At the end of each reporting period, the company assesses whether there is objective evidence of impairment of any financial asset. If there is, an impairment loss is recognised in the income statement.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled, or expires.

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.

Operating lease agreements

Rentals applicable to operating leases where substantially all of 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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2025

9,268,839

9,297,883

18,566,722

Additions

-

548,131

548,131

Disposals

-

(131,096

)

(131,096

)

At 31 March 2026

9,268,839

9,714,918

18,983,757

DEPRECIATION

At 1 April 2025

2,477,918

3,416,738

5,894,656

Charge for year

221,082

786,700

1,007,782

Eliminated on disposal

-

(131,096

)

(131,096

)

At 31 March 2026

2,699,000

4,072,342

6,771,342

NET BOOK VALUE

At 31 March 2026

6,569,839

5,642,576

12,212,415

At 31 March 2025

6,790,921

5,881,145

12,672,066

Included in cost of land and buildings is freehold land of £ 425,554 (2025 - £ 425,554 ) which is not depreciated.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Taxation and social security

193,249

104,226

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Greig Brown (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

7.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is Signatory Vintage Scotch Whisky Company Limited, a company registered in Scotland. The financial statements of Signatory Vintage Scotch Whisky Company Limited can be obtained from Companies House and its registered office is Edradour Distillery, Pitlochry, Perthshire, PH16 5JP.