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Registration number: SC476040

Nordvest UK Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

Nordvest UK Limited

Contents

Company Information | 1
Directors' Report | 2
Statement of Financial Position | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 9

Nordvest UK Limited

Company Information

Directors | Mr David McLellan Mr Arve Almenning Mrs Randi Almenning Per Jarle Mathisen Mr Gustav Nydal

Registered office | 6 Atholl Crescent PERTH PH1 5JN

Accountants | Morris & Young Chartered Accountants 6 Atholl Crescent PERTH PH1 5JN

Nordvest UK Limited

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr David McLellan

Mr Arve Almenning

Mrs Randi Almenning

Per Jarle Mathisen

Mr Gustav Nydal

Principal activity

The principal activity of the company is the supply of windows.

Small companies provision statement

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.

Approved and authorised by the Board on 17 September 2025 and signed on its behalf by:

......................................... Mr David McLellan Director

Nordvest UK Limited

(Registration number: SC476040)
Statement of Financial Position as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 5 | 4,694 | 2,747
Current assets |  |  |
Stocks |  | 24,308 | 24,308
Debtors | 6 | 375,521 | 330,302
Cash at bank and in hand |  | 157,170 | 133,079
|  | 556,999 | 487,689
Creditors: Amounts falling due within one year | 7 | (218,348) | (194,290)
Net current assets |  | 338,651 | 293,399
Total assets less current liabilities |  | 343,345 | 296,146
Provisions for liabilities |  | (904) | (198)
Net assets |  | 342,441 | 295,948
Capital and reserves |  |  |
Called up share capital | 8 | 4,482 | 4,482
Share premium reserve |  | 883 | 883
Retained earnings |  | 337,076 | 290,583
Shareholders' funds |  | 342,441 | 295,948

Nordvest UK Limited

(Registration number: SC476040)
Statement of Financial Position as at 31 December 2024

For the financial year ending 31 December 2024 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 September 2025 and signed on its behalf by:

......................................... Mr David McLellan Director

Nordvest UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
6 Atholl Crescent
PERTH
PH1 5JN

The principal place of business is:
4 Friarton House
Friarton Road
Perth
PH2 8BB

These financial statements were authorised for issue by the Board on 17 September 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been presented in sterling (£). The financial statements are rounded to the nearest £1.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Nordvest UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture and fittings | 25% reducing balance
Office equipment | 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and on deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Nordvest UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4 | Profit before tax

Arrived at after charging/(crediting)

| 2024 £ | 2023 £
Depreciation expense | 1,566 | 915

5 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 January 2024 | 13,613 | 13,613
Additions | 3,513 | 3,513
At 31 December 2024 | 17,126 | 17,126
Depreciation
At 1 January 2024 | 10,866 | 10,866
Charge for the year | 1,566 | 1,566
At 31 December 2024 | 12,432 | 12,432
Carrying amount
At 31 December 2024 | 4,694 | 4,694
At 31 December 2023 | 2,747 | 2,747

6 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 71,181 | 75,604
Prepayments | 3,748 | 54,513
Other debtors | 300,592 | 200,185
| 375,521 | 330,302

Nordvest UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Trade creditors | 11,129 | 51,519
Taxation and social security | 49,778 | 29,562
Accruals and deferred income | 157,441 | 112,803
Other creditors | - | 406
| 218,348 | 194,290

8 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £1 each | 4,482 | 4,482 | 4,482 | 4,482

9 | Dividends

Interim dividends paid

|  | 2024 £ |  | 2023 £
Interim dividend of 10.34 (2023 - 7.81) per each |  | 46,344 |  | 35,000

Nordvest UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10 | Related party transactions

Summary of transactions with parent

Goods were purchased on normal commercial terms from Nordvest Vinduet AS, the parent company, by Nordvest UK Limited during the year.
During the year there was a loan account operated between the parent company and Nordvest UK Limited. There were no terms and conditions attached to the outstanding balance.
The balance outstanding by NordvestVinduet AS to Nordvest UK Limited was £nil (2023: £nil).

11 | Parent and ultimate parent undertaking

Nordvest UK Limited is 84% owned by Nordvest Vinduet AS
The company's immediate parent is Nordvest Vinduet AS, incorporated in Norway.