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Registration number: SC650565

Minerva Holdings (Scotland) Ltd
Unaudited Filleted Financial Statements
for the Year Ended 30 November 2025

Minerva Holdings (Scotland) Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 6
Accountants' Report | 7

Minerva Holdings (Scotland) Ltd

Company Information

Directors | Mr Matteas Law Mrs Emma Lauren Law

Registered office | Unit 4B Gateway Business Park Beancross Road Grangemouth Stirling Scotland FK3 8WX

Accountants | EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Minerva Holdings (Scotland) Ltd

(Registration number: SC650565)
Balance Sheet as at 30 November 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 279 | 380
Investment property | 5 | 352,697 | 155,000
|  | 352,976 | 155,380
Current assets |  |  |
Debtors | 6 | 1,653 | 764
Cash at bank and in hand |  | 3,929 | 7,272
|  | 5,582 | 8,036
Creditors: Amounts falling due within one year | 7 | (105,887) | (49,866)
Net current liabilities |  | (100,305) | (41,830)
Total assets less current liabilities |  | 252,671 | 113,550
Creditors: Amounts falling due after more than one year | 7 | (248,295) | (109,245)
Net assets |  | 4,376 | 4,305
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Retained earnings |  | 4,375 | 4,304
Shareholders' funds |  | 4,376 | 4,305

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 March 2026 and signed on its behalf by:

......................................... Mr Matteas Law Director

Minerva Holdings (Scotland) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1 | General information

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

2 | Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

It is the opinion of the directors that there is reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason the going concern basis has been adopted in preparing the financial statements for the period ended 30 November 2025.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of
services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns,
rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change
attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in
other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable
income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent
accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and
installation.

Minerva Holdings (Scotland) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | Straight Line at 33%
Plant and Machinery | Reducing Balance at 25%
Furniture & Fittings | Reducing Balance at 25%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3 | Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Minerva Holdings (Scotland) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

4 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Total £
Cost or valuation
At 1 December 2024 | 400 | 480 | 949 | 1,829
At 30 November 2025 | 400 | 480 | 949 | 1,829
Depreciation
At 1 December 2024 | 231 | 278 | 940 | 1,449
Charge for the year | 42 | 50 | 9 | 101
At 30 November 2025 | 273 | 328 | 949 | 1,550
Carrying amount
At 30 November 2025 | 127 | 152 | - | 279
At 30 November 2024 | 169 | 202 | 9 | 380

5 | Investment properties

| 2025 £
At 1 December | 155,000
Additions | 197,697
At 30 November | 352,697

There has been no valuation of investment property by an independent valuer.

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | - | 764
Other debtors | 1,653 | -
| 1,653 | 764

Minerva Holdings (Scotland) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Taxation and social security | 40 | 195
Other creditors | 105,847 | 49,671
| 105,887 | 49,866

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 248,295 | 109,245

8 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 248,295 | 109,245

9 | Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

| 2025 £ | 2024 £
Mr Matteas Law | 73,417 | 35,956
Mrs Emma Lauren Law | 31,679 | 12,995
| 105,096 | 48,951

The maximum balance outstanding during the year amounted to £105,096.
The directors current accounts are repayable on demand.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Minerva Holdings (Scotland) Ltd
for the Year Ended 30 November 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Minerva Holdings (Scotland) Ltd for the year ended 30 November 2025 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Minerva Holdings (Scotland) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Minerva Holdings (Scotland) Ltd and state those matters that we have agreed to state to the Board of Directors of Minerva Holdings (Scotland) Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Minerva Holdings (Scotland) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Minerva Holdings (Scotland) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Minerva Holdings (Scotland) Ltd. You consider that Minerva Holdings (Scotland) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Minerva Holdings (Scotland) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

16 March 2026