Company No: SC499747 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	14,532,831		14,794,011
Biological assets		272,767		299,879
		14,805,598		15,093,890
Current assets
Stocks	5	204,530		254,477
Debtors	6	252,830		312,453
Investments		16,042		16,042
Cash at bank and in hand		15,493		8,080
		488,895		591,052
Creditors: amounts falling due within one year	7	( 3,995,976)		( 4,178,891)
Net current liabilities		(3,507,081)		(3,587,839)
Total assets less current liabilities		11,298,517		11,506,051
Creditors: amounts falling due after more than one year	8	( 8,905,623)		( 8,928,182)
Net assets		2,392,894		2,577,869
Capital and reserves
Called-up share capital		500		500
Share premium account		4,207,351		4,207,351
Revaluation reserve		2,300,000		2,300,000
Profit and loss account		( 4,114,957 )		( 3,929,982 )
Total shareholders' funds		2,392,894		2,577,869

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 Kingsbeck Limited (registered number: SC499747) were approved and authorised for issue by the Board of Directors on 13 October 2026. They were signed on its behalf by:

Jonathan Edward Mccosh 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

Kingsbeck 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 Culter Allers, Coulter, By Biggar, ML12 6PZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties 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

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.

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 except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Rental income is recognised at the fair value of the rent received or receivable for the occupancy of property provided in the normal course of business and is shown net of VAT. Revenue is recognised at the point in time where services are provided.

Subsidies are recognised once all conditions in relation to the grants have been met.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually when the movement has been recorded with BCMS, or on the collection of milk), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 and freehold land, 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:

Land and buildings	not depreciated
Plant and machinery	10 years straight line
Vehicles	5 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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Biological assets

The Company owned a dairy herd and a sheep flock. In accordance with FRS102, these are defined as biological assets.

The Company breeds sheep for its own use as well as buying and selling sheep.

Biological assets are recognised only when the entity has control of the asset as a result of past events, it is probable that future economic benefits associated with the asset will flow to the entity; and the fair value or cost of the asset can be measured reliably.

The dairy herd and sheep flock herd are measured in line with HMRC guidance HS224 Farmers and Market Gardeners (2017).

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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). 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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. 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		7

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost/Valuation
At 01 April 2025	14,526,779		694,224		377,933		15,598,936
Additions	0		2,708		0		2,708
Disposals	( 182,570)		0		0		( 182,570)
At 31 March 2026	14,344,209		696,932		377,933		15,419,074
Accumulated depreciation
At 01 April 2025	7,843		524,819		272,263		804,925
Charge for the financial year	862		32,172		48,284		81,318
At 31 March 2026	8,705		556,991		320,547		886,243
Net book value
At 31 March 2026	14,335,504		139,941		57,386		14,532,831
At 31 March 2025	14,518,936		169,405		105,670		14,794,011

5. Stocks

	2026		2025
	£		£
Livestock	140,190		167,630
Crops	37,240		50,879
Other stock	27,100		35,968
	204,530		254,477

6. Debtors

	2026		2025
	£		£
Trade debtors	183,601		161,866
Other debtors	69,229		150,587
	252,830		312,453

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans and overdrafts	351,925		404,695
Trade creditors	538,337		660,955
Other taxation and social security	71,932		5,019
Obligations under finance leases and hire purchase contracts	18,486		75,904
Other creditors	3,015,296		3,032,318
	3,995,976		4,178,891

Hire purchase creditors are secured over the assets to which they relate.

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

	2026		2025
	£		£
Bank loans	8,777,706		8,783,540
Obligations under finance leases and hire purchase contracts	2,211		16,861
Other creditors	125,706		127,781
	8,905,623		8,928,182

Bank loans of £8,903,540 (2025 - £8,897,706) are secured by means of a standard and floating charge over the company's assets.

Hire purchase creditors are secured over the assets to which they relate.

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

	2026		2025
	£		£
Bank loans (repayable by instalments)	6,855,533		6,855,533

9. Related party transactions

Included within 'other creditors' are amounts owed to the directors totalling £2,847,631 (2025 - £2,501,696). These amounts are repayable on demand and do not bear interest.