Company No: SC328060 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	2,795,063		2,876,165
Investments	4	375,001		375,001
		3,170,064		3,251,166
Current assets
Debtors	5	89,266		143,956
Cash at bank and in hand		23,529		46,317
		112,795		190,273
Creditors: amounts falling due within one year	6	( 1,828,369)		( 1,982,908)
Net current liabilities		(1,715,574)		(1,792,635)
Total assets less current liabilities		1,454,490		1,458,531
Provision for liabilities	7	( 227,772)		( 248,912)
Net assets		1,226,718		1,209,619
Capital and reserves
Called-up share capital	8	3		3
Revaluation reserve		1,116,885		1,116,885
Profit and loss account		109,830		92,731
Total shareholder's funds		1,226,718		1,209,619

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has 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 Port Edgar Holdings Limited (registered number: SC328060) were approved and authorised for issue by the Board of Directors on 29 October 2026. They were signed on its behalf by:

P J Cummings 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

Port Edgar Holdings 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 Port Edgar Marina, Port Edgar, South Queensferry, EH30 9SQ, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £1,715,574. The Company is supported through loans from group companies. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met 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.

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 rentals provided in the normal course of business, and is shown net of VAT and other sales related taxes.

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 are 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 initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Depreciation is provided on all tangible fixed assets, so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings	75 years straight line
Leasehold improvements	30 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 was 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 payable under operating leases, including any lease incentives received, are charged to the profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases are consumed.

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised in the statement of comprehensive income when identified.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank and 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 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 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.

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

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 unpaid directors	2		2

3. Tangible assets

	Land and buildings		Leasehold improve- ments		Total
	£		£		£
Cost
At 01 February 2025	1,450,000		1,834,959		3,284,959
At 31 January 2026	1,450,000		1,834,959		3,284,959
Accumulated depreciation
At 01 February 2025	0		408,794		408,794
Charge for the financial year	20,000		61,102		81,102
At 31 January 2026	20,000		469,896		489,896
Net book value
At 31 January 2026	1,430,000		1,365,063		2,795,063
At 31 January 2025	1,450,000		1,426,165		2,876,165

The incoming directors have reviewed the historic accounting policy applied to leasehold property and determined that, in substance, the election available on first-time adoption of FRS 102 to treat a revalued amount as deemed cost was taken.

4. Fixed asset investments

Investments in subsidiaries

	2026
	£
Cost
At 01 February 2025	375,001
At 31 January 2026	375,001
Carrying value at 31 January 2026	375,001
Carrying value at 31 January 2025	375,001

The company's investments at the year end are a 100% holding in Port Edgar Marina Limited and a 100% holding in Production Yachts (Port Edgar) Limited.

5. Debtors

	2026		2025
	£		£
Trade debtors	3,563		541
Amounts owed by Group undertakings	69,018		0
Other debtors	16,685		143,415
	89,266		143,956

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	32,674		40,637
Amounts owed to Group undertakings	683,836		524,217
Amounts owed to Parent undertakings	1,036,664		0
Amounts owed to connected companies	0		944,558
Taxation and social security	7,531		59,265
Other creditors	67,664		414,231
	1,828,369		1,982,908

The company's bankers hold a charge over the long leasehold interest in Port Edgar Marina and a floating charge over the assets of the company.

7. Provision for liabilities

	2026		2025
	£		£
Deferred tax	227,772		248,912

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
30 Ordinary shares of £ 0.10 each	3		3

9. Financial commitments

Commitments

	2026		2025
	£		£
Total future minimum lease payments under non-cancellable operating leases	1,059,500		1,132,750

10. Related party transactions

Other related party transactions

	2026		2025
	£		£
Amounts owed to connected companies	0		944,558

The company has taken advantage of the exemption available in FRS102 1A whereby it has not disclosed transactions with the immediate parent or any wholly owned subsidiary undertaking in the group.