REGISTERED NUMBER: SC308488 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Normac (Fraserburgh) Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I Mclean

Mrs B Mclean

Mr F G Normandale

Mrs D Normandale

REGISTERED OFFICE:

Arnlean

Old Arnbog

Gamrie

Aberdeenshire

AB45 3HJ

REGISTERED NUMBER:

SC308488 (Scotland)

ACCOUNTANTS:

Asquith Accountants Ltd

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

FIXED ASSETS

Licences and quota

4

143,973

167,825

Tangible assets

5

242,312

269,081

Investment property

6

124,233

-

510,518

436,906

CURRENT ASSETS

Debtors

7

58,811

44,585

Cash at bank

5,587

59,281

64,398

103,866

CREDITORS

Amounts falling due within one year

8

297,763

241,901

NET CURRENT LIABILITIES

(233,365

)

(138,035

)

TOTAL ASSETS LESS CURRENT LIABILITIES

277,153

298,871

PROVISIONS FOR LIABILITIES

29,527

32,809

NET ASSETS

247,626

266,062

CAPITAL AND RESERVES

Called up share capital

400

400

Retained earnings

247,226

265,662

247,626

266,062

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 8 December 2025 and were signed on its behalf by:

Mr I Mclean - Director

Mr F G Normandale - Director

1.	STATUTORY INFORMATION

Normac (Fraserburgh) 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.

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.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents, licences and quota are being amortised evenly over their estimated useful life of twenty years.

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

-

25% on reducing balance, 15% on reducing balance and Straight line over 15 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 6 ) .

4.	LICENCES AND QUOTA

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

477,050

AMORTISATION

At 1 April 2024

309,225

Charge for year

23,852

At 31 March 2025

333,077

NET BOOK VALUE

At 31 March 2025

143,973

At 31 March 2024

167,825

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

112,159

470,492

582,651

DEPRECIATION

At 1 April 2024

10,034

303,536

313,570

Charge for year

1,644

25,125

26,769

At 31 March 2025

11,678

328,661

340,339

NET BOOK VALUE

At 31 March 2025

100,481

141,831

242,312

At 31 March 2024

102,125

166,956

269,081

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

124,233

At 31 March 2025

124,233

NET BOOK VALUE

At 31 March 2025

124,233

Investment property is held at cost which is also deemed the fair value in the opinion of the directors.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

30,960

-

Other debtors

27,851

44,585

58,811

44,585

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

202,219

239,379

Taxation and social security

9,023

-

Other creditors

86,521

2,522

297,763

241,901

9.	RELATED PARTY DISCLOSURES

During the year the company leased quota from Coromandel (Fraserburgh) Ltd. The amount owing by the company at the year end date was £186,431 (£230,431 last year). The companies share the same directors and share holders.