REGISTERED NUMBER: SC362220 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 July 2025

for

Orlock Advisors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R A R Napier

REGISTERED OFFICE:

6 Logie Mill

Beaverbank Business Park

Edinburgh

Lothian

EH7 4HG

REGISTERED NUMBER:

SC362220 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

4

2,622

3,232

Investments

5

12,286,302

10,998,121

12,288,924

11,001,353

CURRENT ASSETS

Debtors

6

658,096

1,265,637

Cash at bank

375,176

43,666

1,033,272

1,309,303

CREDITORS

Amounts falling due within one year

7

129,430

394,614

NET CURRENT ASSETS

903,842

914,689

TOTAL ASSETS LESS CURRENT LIABILITIES

13,192,766

11,916,042

PROVISIONS FOR LIABILITIES

8

479,881

707,703

NET ASSETS

12,712,885

11,208,339

CAPITAL AND RESERVES

Called up share capital

9

1,100

1,000

Fair value reserve

3,949,594

2,626,709

Retained earnings

8,762,191

8,580,630

SHAREHOLDERS' FUNDS

12,712,885

11,208,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 April 2026 and were signed by:

R A R Napier - Director

1.	STATUTORY INFORMATION

Orlock Advisors 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 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, modified to include certain items at fair value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment

-

33% on cost

Fixtures & Fittings

-

20% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment

Assets and investments 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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Fixed asset investments

Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Listed investments are measured using the market value in the investment portfolio at the balance sheet date.

Unlisted and other investments are valued using the directors valuation of fair value at the balance sheet date as quoted prices are not available.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2024

2,128

5,177

7,305

Additions

-

848

848

At 31 July 2025

2,128

6,025

8,153

DEPRECIATION

At 1 August 2024

426

3,647

4,073

Charge for year

425

1,033

1,458

At 31 July 2025

851

4,680

5,531

NET BOOK VALUE

At 31 July 2025

1,277

1,345

2,622

At 31 July 2024

1,702

1,530

3,232

5.	FIXED ASSET INVESTMENTS

31.7.25

31.7.24

£

£

Other investments not loans

12,286,302

10,998,121

Additional information is as follows:

Listed

Unlisted

investments

investments

Totals

£

£

£

COST OR VALUATION

At 1 August 2024

7,443,260

3,628

7,446,888

Disposals

(2,270,501

)

-

(2,270,501

)

Revaluations

651,035

84

651,119

At 31 July 2025

5,823,794

3,712

5,827,506

NET BOOK VALUE

At 31 July 2025

5,823,794

3,712

5,827,506

At 31 July 2024

7,443,260

3,628

7,446,888

The historical cost of listed investments was £4,934,802 at 31 July 2025 (2024: £5,199,407).

The historical cost of unlisted investments was £4,900 at 31 July 2025 (2024: £4,900).

Investments (neither listed nor unlisted) were as follows:

31.7.25

31.7.24

£

£

Gold bullion/coins

1,841,056

1,396,959

Investment income a/c

32,345

14,512

Investment capital a/c

6,681

7,305

Deposit a/c

4,578,714

2,132,457

6,458,796

3,551,233

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

467,329

763,611

Other debtors

190,767

502,026

658,096

1,265,637

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade creditors

1,076

988

Taxation and social security

120,855

387,891

Other creditors

7,499

5,735

129,430

394,614

8.	PROVISIONS FOR LIABILITIES

31.7.25

31.7.24

£

£

Deferred tax

479,881

707,703

Deferred

tax

£

Balance at 1 August 2024

707,703

Provided during year

(227,822

)

Balance at 31 July 2025

479,881

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.25

31.7.24

value:

£

£

NIL

Ordinary shares

£1

-

1,000

675

Ordinary A shares

£1

675

-

275

Ordinary B shares

£1

275

-

50

Ordinary C shares

£1

50

-

100

Ordinary D shares

£1

100

-

1,100

1,000

The following shares were issued during the year for cash at par :

100 Ordinary D shares shares of £1

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31st July 2025 the company owed the director £402 (2024 - £656).

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £105,000 (2024 - £140,000) were paid to the director .

Related party

Type of transaction

Amount

Balance receivable from or (payable) to related party as at 31 July 2025

Balance receivable from or (payable) to related party as at 31 July 2024

Against The Head Limited

Loan

(£350,843)

-

£350,843

(2024: Nil)

Sales

£1,458,566

£467,329

£744,411

(2024: £1,669,734)

Commission

£185,846

-

-

paid

(2024: £192,892)

A director of Orlock Advisors Limited is also a director of Against The Head Limited.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R A R Napier.

13.

DONATIONS

During the year ended 31st July 2025, the company made total donations of £182,130 (2024 - £244,996).