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REGISTERED NUMBER: SC587644 (Scotland)

| Unaudited Financial Statements |

| for the Year Ended 31 December 2024 |

| for |

| Cappielow Investments Ltd |

| Cappielow Investments Ltd (Registered number: SC587644) |

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Chartered Accountants' Report | 8 |

| Cappielow Investments Ltd |

Company Information

for the Year Ended 31 December 2024

| DIRECTOR: | G Campbell

| REGISTERED OFFICE: | 6 Macdougall Street

| Greenock

| PA15 2TG

| REGISTERED NUMBER: | SC587644 (Scotland)

| ACCOUNTANTS: | Henderson & Company

| 73 Union Street

| Greenock

| Renfrewshire

| PA16 8BG

| Cappielow Investments Ltd (Registered number: SC587644) |

Balance Sheet

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 4,213 |  | 9,830 |  |

Investment property | 5 | 3,936,987 |  | 3,936,987 |  |

3,941,200 |  | 3,946,817 |  |

CURRENT ASSETS

Debtors | 6 | 45,490 |  | 35,083 |  |

Cash at bank | 108,749 |  | 125,835 |  |

154,239 |  | 160,918 |  |

CREDITORS

Amounts falling due within one year | 7 | 1,615,502 |  | 1,631,659 |  |

NET CURRENT LIABILITIES | (1,461,263 | ) | (1,470,741 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,479,937 |  | 2,476,076 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (1,330,109 | ) | (1,393,387 | ) |

PROVISIONS FOR LIABILITIES | (140,842 | ) | (168,761 | ) |

NET ASSETS | 1,008,986 |  | 913,928 |  |

CAPITAL AND RESERVES

Called up share capital | 2 |  | 2 |  |

Other reserves | 465,052 |  | 465,052 |  |

Retained earnings | 543,932 |  | 448,874 |  |

1,008,986 |  | 913,928 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| Cappielow Investments Ltd (Registered number: SC587644) |

Balance Sheet - continued

31 December 2024

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 17 September 2025 and were signed by:

G Campbell - Director

| Cappielow Investments Ltd (Registered number: SC587644) |

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Cappielow Investments Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 20% on cost

| Investment property

| Investment property is stated at fair value. Gains are recognised in the income statement and credited to a non distributable reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

| Taxation

| The tax expense for the year comprises current and deferred tax.

| The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

| Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recoverd.

| Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

| Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

| Cappielow Investments Ltd (Registered number: SC587644) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Cash and cash equivalents

| Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

| Debtors

| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value and thereafter stated at amortised cost using the effective interest method, less any impairment.

| Creditors

| Basic financial instruments, including preference shares that are classified as debt, are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2023 - 1 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 28,085 |  |

| DEPRECIATION

| At 1 January 2024 | 18,255 |  |

| Charge for year | 5,617 |  |

| At 31 December 2024 | 23,872 |  |

| NET BOOK VALUE

| At 31 December 2024 | 4,213 |  |

| At 31 December 2023 | 9,830 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 January 2024

| and 31 December 2024 | 3,936,987 |  |

| NET BOOK VALUE

| At 31 December 2024 | 3,936,987 |  |

| At 31 December 2023 | 3,936,987 |  |

| Cappielow Investments Ltd (Registered number: SC587644) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | INVESTMENT PROPERTY - continued

| The company's investment properties were revalued at 31 December 2024 at £3,936,987. In arriving at his valuation the director considered valuations carried out by Allied Surveyors, chartered surveyors, on 25 October 2022. Allied Surveyors are independent of the company and have experience of valuing similar properties. Current market conditions were also considered. All investment properties have been valued on a fair value basis.

| Fair value at 31 December 2024 is represented by:

£ |

| Valuation in 2022 | 620,070 |  |

| Cost | 3,316,917 |  |

3,936,987 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 8,729 |  | 8,643 |  |

| Other debtors | 36,761 |  | 26,440 |  |

45,490 |  | 35,083 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 59,025 |  | 59,025 |  |

| Hire purchase contracts | 4,253 |  | 6,009 |  |

| Trade creditors | 2,424 |  | 7,862 |  |

| Amounts owed to group undertakings | 941,271 |  | 982,752 |  |

| Taxation and social security | 34,887 |  | 34,762 |  |

| Other creditors | 573,642 |  | 541,249 |  |

1,615,502 |  | 1,631,659 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans | 1,330,109 |  | 1,389,134 |  |

| Hire purchase contracts | - |  | 4,253 |  |

1,330,109 |  | 1,393,387 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Bank loans | 1,389,134 |  | 1,448,159 |  |

| The bank have a floating charge over all the property or undertaking of the company.

| Cappielow Investments Ltd (Registered number: SC587644) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

10. | RELATED PARTY DISCLOSURES

| Cappielow Investments Limited owed ABC Taxis (Inverclyde) Limited, a company under common control, £456,145 at 31 December 2024 (2023 - £469,213). A commercial rate of interest is being charged on the loan.

| Cappielow Investments Limited owed Inverclyde Taxis Limited, a company under common control, £485,126 at 31 December 2024 (2023 - £513,539). A commercial rate of interest is being charged on the loan.

11. | ULTIMATE CONTROLLING PARTY

| There is no ultimate controlling party.

Chartered Accountants' Report to the Director

on the Unaudited Financial Statements of

Cappielow Investments Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cappielow Investments Ltd for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Cappielow Investments Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cappielow Investments Ltd and state those matters that we have agreed to state to the director of Cappielow Investments Ltd in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Cappielow Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cappielow Investments Ltd. You consider that Cappielow Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cappielow Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Henderson & Company

73 Union Street

Greenock

Renfrewshire

PA16 8BG

17 September 2025