Company No: SC635743 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	52,417		69,417
Tangible assets	4	2,844,705		2,850,699
		2,897,122		2,920,116
Current assets
Stocks		1,500		1,500
Debtors	5	155		459
Cash at bank and in hand		653,500		189,876
		655,155		191,835
Creditors: amounts falling due within one year	6	( 1,164,906)		( 1,131,261)
Net current liabilities		(509,751)		(939,426)
Total assets less current liabilities		2,387,371		1,980,690
Provision for liabilities	7	( 6,613)		( 8,001)
Net assets		2,380,758		1,972,689
Capital and reserves
Called-up share capital	8	100		100
Share premium account		740,886		740,886
Profit and loss account		1,639,772		1,231,703
Total shareholder's funds		2,380,758		1,972,689

For the financial year ending 30 June 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 member has 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Balmore House Limited (registered number: SC635743) were approved and authorised for issue by the Director on 22 October 2026. They were signed on its behalf by:

Bahman Noafshar 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

Balmore House 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 7-11 Melville Street, Edinburgh, EH3 7PE, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net assets of £2,380,758 (2025 - £1,972,689) but net current liabilities of £509,751 (2024 - £939,426) which reflects amounts due to the director and he will not seek repayment of these amounts to the detriment of the company's ability to continue trading and settle liabilities as they fall due. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

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.

Revenue from hotel guests is recognised on their date of stay.

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 liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost net of amortisation. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery etc.	20 % reducing balance

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 director has decided to not apply depreciation to land and buildings due to his view that the property will not depreciate further given the local market and prices in the local area.

Impairment of assets

Assets 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. No indicators of impairment have been noted in the current period.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Cash and cash equivalents

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

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

2. Employees

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

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 July 2025	170,000		170,000
At 30 June 2026	170,000		170,000
Accumulated amortisation
At 01 July 2025	100,583		100,583
Charge for the financial year	17,000		17,000
At 30 June 2026	117,583		117,583
Net book value
At 30 June 2026	52,417		52,417
At 30 June 2025	69,417		69,417

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 July 2025	2,814,281		60,258		2,874,539
Additions	0		2,599		2,599
Disposals	0		( 1,525)		( 1,525)
At 30 June 2026	2,814,281		61,332		2,875,613
Accumulated depreciation
At 01 July 2025	0		23,840		23,840
Charge for the financial year	0		8,078		8,078
Disposals	0		( 1,010)		( 1,010)
At 30 June 2026	0		30,908		30,908
Net book value
At 30 June 2026	2,814,281		30,424		2,844,705
At 30 June 2025	2,814,281		36,418		2,850,699

5. Debtors

	2026		2025
	£		£
Other debtors	155		459

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	12,462		5,227
Taxation and social security	225,617		205,022
Other creditors	926,827		921,012
	1,164,906		1,131,261

The bank loan above is secured by a floating charge in favour of the bank.

7. Provision for liabilities

	2026		2025
	£		£
Deferred tax	6,613		8,001

8. Called-up share capital

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