Skalberg Ltd

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—8

Report to the directors on the preparation of the unaudited statutory accounts of Skalberg Ltd for the year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Skalberg Ltd which comprise the Profit and Loss Account, the 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Skalberg Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Skalberg Ltd and state those matters that we have agreed to state to the directors of Skalberg Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Skalberg Ltd and its directors as a body for our work or for this report.

It is your duty to ensure that Skalberg Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Skalberg Ltd . You consider that Skalberg 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 accounts of Skalberg 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 financial statements.

29 September 2025

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

Page 1

Page 2

Skalberg Ltd

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 07880465

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		64,646		84,118

			64,646		84,118
CURRENT ASSETS
Stocks	6	20,288		-
Debtors	7	943,997		730,649
Investments	8	-		13,156
Cash at bank and in hand		80,420		102,138

		1,044,705		845,943
Creditors: Amounts Falling Due Within One Year	9	(205,925 )		(182,987 )

NET CURRENT ASSETS (LIABILITIES)			838,780		662,956

TOTAL ASSETS LESS CURRENT LIABILITIES			903,426		747,074

Creditors: Amounts Falling Due After More Than One Year	10		(76,568 )		(116,461 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(13,829 )		(18,147 )

NET ASSETS			813,029		612,466

CAPITAL AND RESERVES
Called up share capital			100		100
Profit and Loss Account			812,929		612,366

SHAREHOLDERS' FUNDS			813,029		612,466

Page 2

Page 3

Skalberg Ltd

Balance Sheet (continued)

As At 31 December 2024

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs U Skalberg

Director

29 September 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 3

Page 4

Skalberg Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Skalberg Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07880465 . The registered office is First Floor Sterling House, Outrams Wharf, Little Eaton, Derby, DE21 5EL.

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

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Assets held under finance leases are depreciated in the same way as owned assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

...CONTINUED

Page 4

Page 5

Skalberg Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Financial Instruments - continued

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable 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 company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

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 generally recognised for all taxable timing differences. Deferred tax assets are generally 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 of 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 recovered.

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 the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

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

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2023: 11)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	340,901

As at 31 December 2024	340,901

Amortisation
As at 1 January 2024	340,901

As at 31 December 2024	340,901

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

Page 5

Page 6

Skalberg Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 January 2024	26,504	25,500	195,904	247,908
Additions	1,975	-	-	1,975
Disposals	(149 )	-	-	(149 )

As at 31 December 2024	28,330	25,500	195,904	249,734

Depreciation
As at 1 January 2024	11,527	14,966	137,297	163,790
Provided during the period	4,011	2,634	14,653	21,298

As at 31 December 2024	15,538	17,600	151,950	185,088

Net Book Value
As at 31 December 2024	12,792	7,900	43,954	64,646

As at 1 January 2024	14,977	10,534	58,607	84,118

6. Stocks

	2024	2023
	£	£
Stock	20,288	-

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	3,579	-
Prepayments and accrued income	43,305	23,878
Corporation tax recoverable assets	174,476	174,476
Directors' loan accounts	722,637	532,295

	943,997	730,649

8. Current Asset Investments

	2024	2023
	£	£
Unlisted investments	-	13,156

Page 6

Page 7

Skalberg Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	9,283	13,767
Bank loans and overdrafts	59,228	61,430
Corporation tax	125,230	100,774
Other taxes and social security	1,932	1,938
Other creditors	9,171	-
Accruals and deferred income	1,081	5,078

	205,925	182,987

10. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	76,568	116,461

11. Secured Creditors

The company has granted a floating charge in favor of The Royal Bank of Scotland over all property that the company owns now or in the future alongside all plant and machinery, goodwill and any uncalled capital and stock. The bank may conver nthis to a fixed charged with notice.

	2024		2023
	£		£
Bank loans and overdrafts	121,000		152,962

12. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2024	18,147	18,147
Deferred taxation	(4,318 )	(4,318 )

Balance at 31 December 2024	13,829	13,829

13. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	21,648	21,048
Later than one year and not later than five years	-	21,648

	21,648	42,696

Page 7

Page 8

Skalberg Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

14. Directors Advances, Credits and Guarantees

Included within debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Tomas Skalberg	266,148	197,820	(102,650 )	-	361,318
Mrs Ulrika Skalberg	266,148	197,821	(102,650 )	-	361,319

The above loan is interest free and has no fixed repayment terms.

Page 8