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REGISTERED NUMBER: SC366858 (Scotland)

Financial Statements for the Year Ended 31 December 2025

for

Izertis Projecting Ltd

Izertis Projecting Ltd (Registered number: SC366858)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |

Izertis Projecting Ltd

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | Mr D Ferrin

| Dr D W A Hamilton

| REGISTERED OFFICE: | 8 Albany Street

| Edinburgh

| EH1 3QB

| REGISTERED NUMBER: | SC366858 (Scotland)

| AUDITORS: | Duncan & Toplis Audit Limited

| 14 London Road

| Newark

| Nottinghamshire

| NG24 1TW

Izertis Projecting Ltd (Registered number: SC366858)

Statement of Financial Position

31 December 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 5,322 |  | 2,232 |  |

Investments | 5 | 132,615 |  | 132,615 |  |

137,937 |  | 134,847 |  |

CURRENT ASSETS

Debtors | 6 | 457,030 |  | 1,129,465 |  |

Cash at bank | 697,862 |  | 557,226 |  |

1,154,892 |  | 1,686,691 |  |

CREDITORS

Amounts falling due within one year | 7 | 609,635 |  | 1,175,683 |  |

NET CURRENT ASSETS | 545,257 |  | 511,008 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 683,194 |  | 645,855 |  |

PROVISIONS FOR LIABILITIES | 1,331 |  | 558 |  |

NET ASSETS | 681,863 |  | 645,297 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 1,000 |  | 1,000 |  |

Retained earnings | 680,863 |  | 644,297 |  |

SHAREHOLDERS' FUNDS | 681,863 |  | 645,297 |  |

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 26 March 2026 and were signed on its behalf by:

Mr D Ferrin - Director

Dr D W A Hamilton - Director

Izertis Projecting Ltd (Registered number: SC366858)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Izertis Projecting 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.

| The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

| Preparation of consolidated financial statements

| The financial statements contain information about Izertis Projecting Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Going concern

| The financial statements have been prepared on a going concern basis which assumes that the company is able to meet it's obligations as they fall due for the reasonable future. The group provides support to the company wherever is required through it's own facilities.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

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

| Work in progress is included as a part of turnover and is in respect of services carried out prior to the date of these financial statements and invoiced afterwards. The value of such works includes all director labour and attributable costs expected to be recovered.

| Tangible fixed assets

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

| Office & Equipment | - | 25% on cost

| Financial instruments

| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties. Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

| Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid. Debtors receivable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

| The Company has chosen to adopt the FRS 102A in respect of financial instruments.

| 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.

| 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.

Izertis Projecting Ltd (Registered number: SC366858)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Investments in subsidiaries

| Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

| A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 14 (2024 - 16 ) .

4. | TANGIBLE FIXED ASSETS

| Office &

| Equipment

£ |

| COST

| At 1 January 2025 | 4,510 |  |

| Additions | 4,725 |  |

| At 31 December 2025 | 9,235 |  |

| DEPRECIATION

| At 1 January 2025 | 2,278 |  |

| Charge for year | 1,635 |  |

| At 31 December 2025 | 3,913 |  |

| NET BOOK VALUE

| At 31 December 2025 | 5,322 |  |

| At 31 December 2024 | 2,232 |  |

5. | FIXED ASSET INVESTMENTS

| Investment

| in

| subsidiary

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 132,615 |  |

| NET BOOK VALUE

| At 31 December 2025 | 132,615 |  |

| At 31 December 2024 | 132,615 |  |

Izertis Projecting Ltd (Registered number: SC366858)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | FIXED ASSET INVESTMENTS - continued

| The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

| Earlswood SL

| Registered office: Calle Basauri,6,Madrid,28023,Spain

| Nature of business: Business management consultancy

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 140,233 |  | 170,424 |  |

| Profit for the year | 46,176 |  | 22,459 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade debtors | 191,074 |  | 865,893 |  |

| VAT | 87,925 |  | 47,308 |  |

| Prepayments and accrued income | 178,031 |  | 216,264 |  |

457,030 |  | 1,129,465 |  |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade creditors | 114,919 |  | 63,893 |  |

| Amounts owed to group undertakings | 183,482 |  | 118,114 |  |

| Tax | 10,600 |  | 85,444 |  |

| Social security and other taxes | 13,520 |  | 25,652 |  |

| Other creditors | 3,609 |  | 5,873 |  |

| Accruals and deferred income | 283,505 |  | 876,707 |  |

609,635 |  | 1,175,683 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.25 |  | 31.12.24

| value: | £ | £ |

| 998 | Ordinary - A | £1 | 998 |  | 998 |  |

| 1 | Ordinary - B | £1 | 1 |  | 1 |  |

| 1 | Ordinary - C | £1 | 1 |  | 1 |  |

1,000 |  | 1,000 |  |

9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Rachel Rudkin FCCA (Senior Statutory Auditor)

| for and on behalf of Duncan & Toplis Audit Limited

10. | ULTIMATE CONTROLLING PARTY

| The controlling party is Izertis S.A..

| The registered office of Izertis S.A. is Avenida del Jardín Botánico, 1345, 33203, Gijón, Asturias. Spain.