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REGISTERED NUMBER: 02339114 (England and Wales)

Unaudited Financial Statements

For The Year Ended 30th June 2025

for

Martel Northern Limited

| Martel Northern Limited (Registered number: 02339114) |

Contents of the Financial Statements

For The Year Ended 30th June 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Martel Northern Limited |

Company Information

For The Year Ended 30th June 2025

| DIRECTORS: | N Martel

| H C G Martel

| SECRETARY: | H C G Martel

| REGISTERED OFFICE: | Sunton House

| Collingbourne Ducis

| Marlborough

| SN8 3DY

| REGISTERED NUMBER: | 02339114 (England and Wales)

| ACCOUNTANTS: | F E Metcalfe & Co Limited

| Chartered Accountants

| 4 Old Market Place

| Ripon

| North Yorkshire

| HG4 1EQ

| Martel Northern Limited (Registered number: 02339114) |

Balance Sheet

30th June 2025

30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 4 | - |  | 173 |  |

CURRENT ASSETS

Debtors | 5 | 398,072 |  | 503,758 |  |

Investments | 6 | 222,401 |  | 205,936 |  |

Cash at bank | 124,827 |  | 57,457 |  |

745,300 |  | 767,151 |  |

CREDITORS

Amounts falling due within one year | 7 | 106,644 |  | 177,126 |  |

NET CURRENT ASSETS | 638,656 |  | 590,025 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 638,656 |  | 590,198 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 735,000 |  | 710,000 |  |

NET LIABILITIES | (96,344 | ) | (119,802 | ) |

CAPITAL AND RESERVES

Called up share capital | 5,000 |  | 5,000 |  |

Retained earnings | (101,344 | ) | (124,802 | ) |

SHAREHOLDERS' FUNDS | (96,344 | ) | (119,802 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

| Martel Northern Limited (Registered number: 02339114) |

Balance Sheet - continued

30th June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th March 2026 and were signed on its behalf by:

N Martel - Director

| Martel Northern Limited (Registered number: 02339114) |

Notes to the Financial Statements

For The Year Ended 30th June 2025

1. | STATUTORY INFORMATION

| Martel Northern Limited is a private company, limited by shares , registered in England and Wales. 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

| (a) General information and basis of preparation

| Martel Northern Limited is a private company limited by shares and incorporated in England within the United Kingdom. The address of the registered office is given in the company information on Company Information page.

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

| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

| Turnover

| Turnover represents the fair value of consideration received on the trading of current asset investments. Turnover is recognised at the point when a gain or loss is crystallised, this is normally when an investment is sold and the proceeds received. The acquisition cost of the current asset investments that have been sold is recognised as a cost of sale.

| Interest receivable and all other profits from trading loan relationships are reported as turnover of the company. The turnover is recognised when the value of the revenue can be measured reliably and it is probable that the value will be received by the company.

| Tangible fixed assets

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

| - 25% Straight-line depreciation

| Taxation

| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

| Martel Northern Limited (Registered number: 02339114) |

Notes to the Financial Statements - continued

For The Year Ended 30th June 2025

2. | ACCOUNTING POLICIES - continued

| Loans, borrowings,debtors and creditors receivable / payable within 1 year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Loans and borrowings payable after more than one year

| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

| Investments

| Investments are recognised initially at fair value which is normally at transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit and loss if the shares are publically traded or their fair value can be measured reliably. Other investments are measured at cost less impairment.

| Derivatives

| Derivative financial instruments are initially measured at fair value at the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

| Provisions

| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

| Foreign currency

| Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

| Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

| Employee benefits

| When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

| The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

| Martel Northern Limited (Registered number: 02339114) |

Notes to the Financial Statements - continued

For The Year Ended 30th June 2025

4. | TANGIBLE FIXED ASSETS

Computer |

equipment |

| £

| COST

| At 1st July 2024

| and 30th June 2025 | 3,077 |  |

| DEPRECIATION

| At 1st July 2024 | 2,904 |  |

| Charge for year | 173 |  |

| At 30th June 2025 | 3,077 |  |

| NET BOOK VALUE

| At 30th June 2025 | - |  |

| At 30th June 2024 | 173 |  |

5. | DEBTORS

30.6.25 | 30.6.24 |

| £ | £

| Amounts falling due within one year:

| Prepayments and accrued income | 8,072 |  | 3,758 |  |

| Amounts falling due after more than one year:

| Loans due after 1 year | 390,000 |  | 500,000 |  |

| Aggregate amounts | 398,072 |  | 503,758 |  |

6. | CURRENT ASSET INVESTMENTS AND DEPOSITS |

30.6.25 | 30.6.24 |

| £ | £

| Bank deposits | 90,616 |  | 41,450 |  |

| Current Investments | 131,785 |  | 164,486 |  |

222,401 |  | 205,936 |  |

| Bank deposits represent cash balances held at I G Markets and I B Markets.

| The bank has a charge over the balance in order to cover the open investment positions.

| The bank deposit is repayable when there are no open positions.

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

30.6.25 | 30.6.24 |

| £ | £

| Investor Loan Accounts | - |  | 33,175 |  |

| Mrs S C Martel Discretionary Settlement | 14,250 |  | 14,250 |  |

| Corporation Tax | 414 |  | - |  |

| Directors' current accounts | 88,500 |  | 128,021 |  |

| Accrued expenses | 3,480 |  | 1,680 |  |

106,644 |  | 177,126 |  |

| Martel Northern Limited (Registered number: 02339114) |

Notes to the Financial Statements - continued

For The Year Ended 30th June 2025

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

30.6.25 | 30.6.24 |

| £ | £

| Directors' loan accounts | 735,000 |  | 710,000 |  |

9. | RELATED PARTY DISCLOSURES

| The directors of the company are beneficiaries of the Mrs S C Martel Discretionary Settlement.

| The Mrs S C Martel Discretionary Settlement has loaned £14,250 (2024-£14,250) to the company and interest of £0 was charged in the year (2024 - £nil).

| The directors of the company received remuneration of £8,067 (2024 - £9,096).

10. | RESERVES

| The profit and loss reserve at the year end includes unrealised losses on current asset investments of £30,043 (2024:losses of £32,938) and this value of the profit and loss reserve is not available for distribution to shareholders.