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REGISTERED NUMBER: SC311933 (Scotland)

Unaudited Financial Statements for the Year Ended 30th November 2025

for

EWG (Scotland) Limited

| EWG (Scotland) Limited (Registered number: SC311933) |

Contents of the Financial Statements

for the Year Ended 30th November 2025

| Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |  | to |  | 6

| Report of the Accountants | 7 |

| EWG (Scotland) Limited |

Company Information

for the Year Ended 30th November 2025

| DIRECTOR: | R W Glatt

| SECRETARY: | R W Glatt

| REGISTERED OFFICE: | Hearthstanes Estate

| Tweedsmuir

| Biggar

| Lanarkshire

| ML12 6QN

| REGISTERED NUMBER: | SC311933 (Scotland)

| ACCOUNTANTS: | Farries Kirk & McVean

| Dumfries Enterprise Park

| Heathhall

| Dumfries

| DUMFRIESSHIRE

| DG1 3SJ

| SOLICITORS: | Shepherd & Wedderburn

| 1 Exchange Crescent

| Conference Square

| Edinburgh

| EH3 8UL

| EWG (Scotland) Limited (Registered number: SC311933) |

Balance Sheet

30th November 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 946,578 |  | 897,920 |  |

CURRENT ASSETS

Stocks | 147,195 |  | 151,610 |  |

Debtors | 5 | 144,054 |  | 212,743 |  |

Cash at bank and in hand | 100,819 |  | 38,915 |  |

392,068 |  | 403,268 |  |

CREDITORS

Amounts falling due within one year | 6 | 210,471 |  | 194,725 |  |

NET CURRENT ASSETS | 181,597 |  | 208,543 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,128,175 |  | 1,106,463 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 1,745,516 |  | 1,658,280 |  |

NET LIABILITIES | (617,341 | ) | (551,817 | ) |

CAPITAL AND RESERVES

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

Retained earnings | (618,341 | ) | (552,817 | ) |

SHAREHOLDERS' FUNDS | (617,341 | ) | (551,817 | ) |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd March 2026 and were signed by:

R W Glatt - Director

| EWG (Scotland) Limited (Registered number: SC311933) |

Notes to the Financial Statements

for the Year Ended 30th November 2025

1. | STATUTORY INFORMATION

| EWG (Scotland) Limited 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 directors consider that in the preparation of these financial statements they have taken into account all information that could reasonably be expected to be available. On this basis they consider that it is appropriate to prepare financial statements on a going concern basis. This assumes that the parent company, Terrateres (Scotland) Limited, will continue its financial support of the company.

| The financial statements are prepared in respect of the individual company.

| Turnover

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

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery etc | - | 25% on reducing balance, 20% on reducing balance, 15% on reducing balance and 10% on reducing balance

| Amounts written off each asset over the estimated useful life represent cost less residual value. The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

| Pension costs and other post-retirement benefits

| The company makes contributions into a recognised UK defined contribution pension scheme. Contributions payable to this scheme are charged to the income statement in the period to which they relate.

| Grants

| Grants are credited to the profit and loss account in the accounting period in which they are received.

| EWG (Scotland) Limited (Registered number: SC311933) |

Notes to the Financial Statements - continued

for the Year Ended 30th November 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Cash and cash equivalents

| Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

| Trade debtors

| Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

| Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

| Trade creditors

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

| Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

| Borrowings

| Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

| Provisions and contingencies

| Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. | EMPLOYEES AND DIRECTORS

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

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1st December 2024 | - |  | 2,847,396 |  | 2,847,396 |  |

| Additions | 59,278 |  | 167,195 |  | 226,473 |  |

| Disposals | - |  | (93,716 | ) | (93,716 | ) |

| At 30th November 2025 | 59,278 |  | 2,920,875 |  | 2,980,153 |  |

| DEPRECIATION

| At 1st December 2024 | - |  | 1,949,476 |  | 1,949,476 |  |

| Charge for year | - |  | 153,325 |  | 153,325 |  |

| Eliminated on disposal | - |  | (69,226 | ) | (69,226 | ) |

| At 30th November 2025 | - |  | 2,033,575 |  | 2,033,575 |  |

| NET BOOK VALUE

| At 30th November 2025 | 59,278 |  | 887,300 |  | 946,578 |  |

| At 30th November 2024 | - |  | 897,920 |  | 897,920 |  |

| EWG (Scotland) Limited (Registered number: SC311933) |

Notes to the Financial Statements - continued

for the Year Ended 30th November 2025

4. | TANGIBLE FIXED ASSETS - continued

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

| etc

£ |

| COST

| Additions | 83,250 |  |

| At 30th November 2025 | 83,250 |  |

| DEPRECIATION

| Charge for year | 16,650 |  |

| At 30th November 2025 | 16,650 |  |

| NET BOOK VALUE

| At 30th November 2025 | 66,600 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 122,147 |  | 212,743 |  |

| Other debtors | 21,907 |  | - |  |

144,054 |  | 212,743 |  |

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 16,667 |  | - |  |

| Trade creditors | 183,969 |  | 167,576 |  |

| Taxation and social security | 5,432 |  | 22,796 |  |

| Other creditors | 4,403 |  | 4,353 |  |

210,471 |  | 194,725 |  |

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 29,166 |  | - |  |

| Other creditors | 1,716,350 |  | 1,658,280 |  |

1,745,516 |  | 1,658,280 |  |

8. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 45,833 |  | - |  |

| The hire purchase creditors are secured on the assets on which the finance is actually outstanding.

| EWG (Scotland) Limited (Registered number: SC311933) |

Notes to the Financial Statements - continued

for the Year Ended 30th November 2025

9. | RELATED PARTY DISCLOSURES

| Directors Loan

| At 30th November 2025, the company owed the sum of £3 (2024 - £3) to Mr R W Glatt by way of a director's current account. This sum is repayable on demand and no interest is charged on the sum advanced.

| Related Parties

| The company has an inter-company loan account with its parent company Terrateres (Scotland) Limited. At 30th November 2025, EWG (Scotland) Limited owed to the parent company the sum of £1,716,350 (2024 - £1,658,280). There were no transactions between the two companies in the year under review, the difference in the loan balance being represented by transfers of funds between the two companies.

10. | ULTIMATE CONTROLLING PARTY

| The controlling party is R W Glatt.

| ULTIMATE PARENT COMPANY

| The company is a 100% owned subsidiary of Terrateres (Scotland) Limited

| EWG (Scotland) Limited |

Report of the Accountants to the Director of

EWG (Scotland) Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th November 2025 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

23rd March 2026