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REGISTERED NUMBER: SC440275 (Scotland)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 JANUARY 2025 |

| FOR |

| PROTEUS ELECTRICAL LIMITED |

PROTEUS ELECTRICAL LIMITED (REGISTERED NUMBER: SC440275) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 JANUARY 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| PROTEUS ELECTRICAL LIMITED |

COMPANY INFORMATION

for the year ended 31 JANUARY 2025

| DIRECTORS: | W R Cairns

| Ms O Zhigareva

| REGISTERED OFFICE: | 136J South College Street

| Aberdeen

| AB11 6LA

| REGISTERED NUMBER: | SC440275 (Scotland)

| ACCOUNTANTS: | Thomas Barrie & Co LLP

| Atlantic House

| 1a Cadogan Street

| Glasgow

| G2 6QE

PROTEUS ELECTRICAL LIMITED (REGISTERED NUMBER: SC440275) |

STATEMENT OF FINANCIAL POSITION

31 JANUARY 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 441 |  | 1,196 |  |

CURRENT ASSETS

Cash at bank | 319 |  | 381 |  |

CREDITORS

Amounts falling due within one year | 5 | (7,578 | ) | (4,446 | ) |

NET CURRENT LIABILITIES | (7,259 | ) | (4,065 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (6,818 | ) | (2,869 | ) |

CREDITORS

Amounts falling due after more than one year | 6 | (10,771 | ) | (12,802 | ) |

NET LIABILITIES | (17,589 | ) | (15,671 | ) |

CAPITAL AND RESERVES

Called up share capital | 2 |  | 2 |  |

Retained earnings | (17,591 | ) | (15,673 | ) |

SHAREHOLDERS' FUNDS | (17,589 | ) | (15,671 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PROTEUS ELECTRICAL LIMITED (REGISTERED NUMBER: SC440275) |

STATEMENT OF FINANCIAL POSITION - continued

31 JANUARY 2025

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 Board of Directors and authorised for issue on 24 October 2025 and were signed on its behalf by:

W R Cairns - Director

PROTEUS ELECTRICAL LIMITED (REGISTERED NUMBER: SC440275) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 JANUARY 2025

1. | STATUTORY INFORMATION

| Proteus Electrical Limited is a private company, limited by shares, registered in Scotland. The company's registered number is SC440275 and the registered office is 136J South College Street, Aberdeen, AB11 6LA.

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.

| The financial statements are prepared on the going concern basis despite the fact that Statement of Financial Position is showing a net current liability position and a loss was made during the year. The going concern basis is deemed relevant as after discussions with the directors they have confirmed their ongoing support to the company.

| The presentational and functional currency of the financial statements is Pounds Sterling (£).

| Significant judgements and estimates

| In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

| The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

| Plant and equipment

| The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the company's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets.

| Tangible fixed assets

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

| Plant and machinery etc | - | 33% on cost and 15% on cost

| Financial instruments

| The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

| Debtors

| Short term debtors are measured at transaction price, less any impairment.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash balances.

| Creditors

| Short term trade creditors are measured at the transaction price.

| Provisions

| Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

PROTEUS ELECTRICAL LIMITED (REGISTERED NUMBER: SC440275) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 JANUARY 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - NIL).

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 February 2024

| and 31 January 2025 | 7,036 |  |

| DEPRECIATION

| At 1 February 2024 | 5,840 |  |

| Charge for year | 755 |  |

| At 31 January 2025 | 6,595 |  |

| NET BOOK VALUE

| At 31 January 2025 | 441 |  |

| At 31 January 2024 | 1,196 |  |

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

2025 | 2024 |

£ | £ |

| Other creditors | 7,578 |  | 4,446 |  |

PROTEUS ELECTRICAL LIMITED (REGISTERED NUMBER: SC440275) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 JANUARY 2025

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

2025 | 2024 |

£ | £ |

| Other creditors | 10,771 |  | 12,802 |  |