Sekal Aberdeen Limited

(Registration number: SC416188)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	5	6,333	7,856
Tangible assets	6	163,907	90,668
		170,240	98,524
Current assets
Debtors	7	82,014	36,451
Cash at bank and in hand		739,443	821,706
		821,457	858,157
Creditors: Amounts falling due within one year	8	(471,908)	(870,978)
Net current assets/(liabilities)		349,549	(12,821)
Total assets less current liabilities		519,789	85,703
Provisions for liabilities		(40,997)	(22,667)
Net assets		478,792	63,036
Capital and reserves
Called up share capital	9	25,000	25,000
Profit and loss account		453,792	38,036
Total equity		478,792	63,036

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 22 December 2025 and signed on its behalf by:

.........................................

T Eliassen
Director

Sekal Aberdeen Limited

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

1	Statutory information

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

The address of its registered office is:
50 Huntly Street
Aberdeen
AB10 1RS

2	Accounting policies

2.1 Summary of significant accounting policies

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.

2.2 Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.3 Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Sekal Aberdeen Limited

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

2.4 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:


Patent	10 years
Trademark	10 years

2.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:


Leasehold improvements	20% straight line
Fixtures and fittings	20% straight line
Computers	20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Sekal Aberdeen Limited

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

2.6 Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.7 Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Sekal Aberdeen Limited

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

2.8 Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.9 Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.10 Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Sekal Aberdeen Limited

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

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.11 Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.13 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2.14 Provision of audit and accountancy costs

The company has departed from the accruals basis in regards to the provision of the audit and accountancy costs, which are not material, on the basis that the consistency and matching concepts are being applied.

Sekal Aberdeen Limited

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

3

Employees

The average number of persons employed by the company (including directors) during the year, was 49 (2023 - 47).

4

Taxation

Tax charged/(credited) in the income statement

	2024 £	2023 £
Current taxation
UK corporation tax	65,472	-
Deferred taxation
Arising from origination and reversal of timing differences	18,330	(1,528)
Tax expense/(receipt) in the income statement	83,802	(1,528)

Deferred tax

Deferred tax assets and liabilities

2024	Liability £
	40,997

2023	Liability £
	22,667

Sekal Aberdeen Limited

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

5	Intangible fixed assets

Patent
£

Trademark
£

Total
£

Cost

At 1 January 2024

11,336

3,820

15,156

At 31 December 2024

11,336

3,820

15,156

Amortisation

At 1 January 2024

5,356

1,944

7,300

Amortisation charge

1,141

382

1,523

At 31 December 2024

6,497

2,326

8,823

Carrying amount

At 31 December 2024

4,839

1,494

6,333

At 31 December 2023

5,980

1,876

7,856

6

Tangible fixed assets

Plant and machinery
£

Land and buildings
£

Total
£

Cost

At 1 January 2024

157,800

42,675

200,475

Additions

116,174

-

116,174

At 31 December 2024

273,974

42,675

316,649

Depreciation

At 1 January 2024

81,002

28,805

109,807

Charge for the year

34,400

8,535

42,935

At 31 December 2024

115,402

37,340

152,742

Carrying amount

At 31 December 2024

158,572

5,335

163,907

At 31 December 2023

76,798

13,870

90,668

Sekal Aberdeen Limited

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

7	Debtors: amounts falling due within one year

	2024 £	2023 £
Amounts owed by group undertakings	-	2,312
Other debtors	82,014	34,139
	82,014	36,451

8

Creditors

2024
£

2023
£

Amounts falling due within one year

Trade creditors

80,532

23,581

Taxation and social security

161,729

154,213

Other creditors

164,175

693,184

Corporation tax

65,472

-

471,908

870,978

9

Called up share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	25,000	25,000	25,000	25,000

10	Related party transactions

The company has taken advantage of the exemption available in Section 33.1A of FRS102 whereby it has not disclosed transactions with the parent company or any wholly owned subsidiary undertakings of the group headed by Sekal AS.

Sekal Aberdeen Limited

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

11	Controlling and ultimate controlling party

The controlling party is Sekal AS a company based in Norway.
The ultimate controlling party is Sumitomo Corporation a public company based in Japan.

12	Audit report

As the profit and loss account has been omitted from the filing copy of the financial statements the following information is in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

• The Independent Auditor's Report was unqualified.
• The name of the Senior Statutory Auditor who signed the audit report on 23 December 2025 was Mr David Cox.
• The auditor was Cox & Co (Accountancy) Limited.

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 11

	Patent £	Trademark £	Total £
Cost
At 1 January 2024	11,336	3,820	15,156
At 31 December 2024	11,336	3,820	15,156
Amortisation
At 1 January 2024	5,356	1,944	7,300
Amortisation charge	1,141	382	1,523
At 31 December 2024	6,497	2,326	8,823
Carrying amount
At 31 December 2024	4,839	1,494	6,333
At 31 December 2023	5,980	1,876	7,856

	Plant and machinery £	Land and buildings £	Total £
Cost
At 1 January 2024	157,800	42,675	200,475
Additions	116,174	-	116,174
At 31 December 2024	273,974	42,675	316,649
Depreciation
At 1 January 2024	81,002	28,805	109,807
Charge for the year	34,400	8,535	42,935
At 31 December 2024	115,402	37,340	152,742
Carrying amount
At 31 December 2024	158,572	5,335	163,907
At 31 December 2023	76,798	13,870	90,668

	2024 £	2023 £
Amounts falling due within one year
Trade creditors	80,532	23,581
Taxation and social security	161,729	154,213
Other creditors	164,175	693,184
Corporation tax	65,472	-
	471,908	870,978