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REGISTERED NUMBER: NI014885 (Northern Ireland)

Financial Statements

for the Year Ended

31 December 2025

for

Ballylough Enterprises Limited

| Ballylough Enterprises Limited (Registered number: NI014885) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Abridged Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Ballylough Enterprises Limited |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | Mrs S M Watson

| J W Watson

| SECRETARY: | Mrs S M Watson

| REGISTERED OFFICE: | 124 Ballylough Road

| Castlewellan

| Co. Down

| BT31 9JQ

| REGISTERED NUMBER: | NI014885 (Northern Ireland)

| AUDITORS: | M.B.Mc Grady & Co

| Chartered Accountants

| Statutory Auditors

| Rathmore House

| 52 St Patricks Avenue

| Downpatrick

| Co. Down

| BT30 6DS

| BANKERS: | Ulster Bank

| 29 Upper Square

| Castlewellan

| Down

| BT31 9DD

| Ballylough Enterprises Limited (Registered number: NI014885) |

Abridged Balance Sheet

31 December 2025

| 31/12/25 | 31/12/24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 690,695 |  | 345,065 |  |

Investment property | 5 | 11,252,065 |  | 11,252,065 |  |

11,942,760 |  | 11,597,130 |  |

CURRENT ASSETS

Debtors | 104,068 |  | 85,917 |  |

Cash at bank | 308,452 |  | 67,964 |  |

412,520 |  | 153,881 |  |

CREDITORS

Amounts falling due within one year | 416,383 |  | 548,514 |  |

NET CURRENT LIABILITIES | (3,863 | ) | (394,633 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 11,938,897 |  | 11,202,497 |  |

CREDITORS

Amounts falling due after more than one year | (1,065,155 | ) | (990,140 | ) |

PROVISIONS FOR LIABILITIES | (1,402,762 | ) | (1,328,235 | ) |

NET ASSETS | 9,470,980 |  | 8,884,122 |  |

CAPITAL AND RESERVES

Called up share capital | 6,000 |  | 6,000 |  |

Revaluation reserve | 6 | 4,508,908 |  | 4,508,908 |  |

Retained earnings | 4,956,072 |  | 4,369,214 |  |

SHAREHOLDERS' FUNDS | 9,470,980 |  | 8,884,122 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 April 2026 and were signed on its behalf by:

J W Watson - Director

| Ballylough Enterprises Limited (Registered number: NI014885) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Ballylough Enterprises Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

| All members have consented to the abridgements of these financial statements.

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 as modified by the revaluation of certain assets.

| Critical accounting judgements and key sources of estimation uncertainty

| Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results.

| The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

| a) Recoverability of debtors

| Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the aging profile of debtors are considered.

| b) Useful economic lives of tangible assets

| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the assets.

| c) Investment property valuations

| The fair value of completed investment property is determined by independent valuation experts every five years using the open market value of existing use method, subject to current leases and restrictions, as this has been assessed currently as best use of these assets. Directors also annually assess the value of investment properties using their judgement to select a variety of methods and makes assumptions that are mainly based on market conditions existing.

| Turnover

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

| Ballylough Enterprises Limited (Registered number: NI014885) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| All tangible fixed assets are initially recorded at historic cost. This includes legal fees, stamp duty and other non-refundable purchase taxes, and also any costs directly attributable to bring the asset to the location and condition necessary for it to be capable of operating in the manner intended by management, which can include the cost of site preparation, initial delivery and handling, installation and assembly, and testing of functionality.

| Depreciation

| Depreciation is provided on all tangible assets at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Plant & machinery - 20% on reducing balance and 10% on cost

| Motor vehicles - 25% on reducing balance and 16.67% per annum of net book value

| The residual value and useful lives of tangible assets are considered annually for indicators that these may have changed. When such indicators are present, a review is carried out of the residual value, depreciation methods and useful lives, and these will be amended if necessary. Changes in deprecation rates arising from this review are accounted for prospectively over the remaining useful lives of the assets.

| Investment property

| Investment properties for which fair value can be measured reliably without undue cost or effort are measured as fair value at each reporting date with changes in fair value recognised in profit or loss.

| 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.

| 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.

| Ballylough Enterprises Limited (Registered number: NI014885) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Going concern

| At the balance sheet date, the company's current liabilities exceeded its current assets.The company has received assurance from the directors that they will if required give financial support to the company for twelve months from the date of signing these financial statements.

| On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

| 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 and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

| Investments

| Listed asset investments are not held for immediate sale or reinvestment and as such have been classified as fixed assets by the company. Assets in this category are initially measured at cost and transaction costs are expensed through the profit and loss. After initial recognition, assets in this category shall be measured at fair value, without any deductions for transaction costs that may be incurred on sale or other disposal. Any unrealised gains due to the subsequent fair value are recorded in the profit and loss account. Unrealised gains are not allowable for distribution.

| Ballylough Enterprises Limited (Registered number: NI014885) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Ordinary share capital

| The ordinary share capital of the company is presented as equity.

| Cash and cash equivalents

| Cash consists of cash on hand and demand deposits. Cash equivalents consist of short term highly liquid investments that are readily convertible to known amounts of cash that are subject to an insignificant risk of change in value.

| Other financial assets

| Other financial assets including trade debtors arising from goods sold to customers on short-term credit, are initially measured at the undiscounted amount of cash receivable from that debtor, which is normally the invoice price. If payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate, this constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, other financial assets are measured at amortised cost less impairment, where there is objective evidence of impairment.

| Loans and borrowings

| All borrowings by the company are initially recorded at the amount of cash received less separately incurred transaction costs, unless the arrangement constitutes, in effect, a financing transaction, in which case it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, borrowings are stated at amortised cost using the effective interest rate method.

| The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one year or on demand are not

| amortised. Loans and borrowings are classified as current assets or liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least twelve months after the financial year

| end date.

| Other financial liabilities

| Other financial liabilities, including trade creditors arising from goods purchased from suppliers on short term credit, are initially measured at the undiscounted amount owed to the creditor, which is normally the invoice price. Liabilities that are settled within one year are not discounted. If payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate, this constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, other financial liabilities are measured at amortized cost.

| Impairment of financial assets

| At the end of each reporting period, the company assesses whether there is objective evidence of impairment of any financial assets that are measured at cost or amortised cost, including unlisted

| investments, loans, trade debtors and cash. If there is objective evidence of impairment, impairment losses are recognised in the Profit and Loss account in that financial year.

3. | EMPLOYEES AND DIRECTORS

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

| Ballylough Enterprises Limited (Registered number: NI014885) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | TANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 January 2025 | 1,179,239 |  |

| Additions | 645,188 |  |

| Disposals | (295,615 | ) |

| At 31 December 2025 | 1,528,812 |  |

| DEPRECIATION

| At 1 January 2025 | 834,174 |  |

| Charge for year | 232,381 |  |

| Eliminated on disposal | (228,438 | ) |

| At 31 December 2025 | 838,117 |  |

| NET BOOK VALUE

| At 31 December 2025 | 690,695 |  |

| At 31 December 2024 | 345,065 |  |

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

| Totals

£ |

| COST

| At 1 January 2025 | 484,636 |  |

| Additions | 497,322 |  |

| Disposals | (196,933 | ) |

| At 31 December 2025 | 785,025 |  |

| DEPRECIATION

| At 1 January 2025 | 274,475 |  |

| Charge for year | 169,307 |  |

| Eliminated on disposal | (132,134 | ) |

| At 31 December 2025 | 311,648 |  |

| NET BOOK VALUE

| At 31 December 2025 | 473,377 |  |

| At 31 December 2024 | 210,161 |  |

| Ballylough Enterprises Limited (Registered number: NI014885) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 January 2025

| and 31 December 2025 | 11,252,065 |  |

| NET BOOK VALUE

| At 31 December 2025 | 11,252,065 |  |

| At 31 December 2024 | 11,252,065 |  |

| The director, Walter Watson, believes that the balance sheet value of freehold investment land and buildings have not materially changed since the external valuation and are therefore not materially different to their open market value.

| Investment Property was valued on an open market basis in 2024 by Colliers International Property Consultants Limited & Lindsay Graham Chartered Surveyors and Estate Agents.

| Fair value at 31 December 2025 is represented by:

£ |

| Valuation in 2000 | 980,906 |  |

| Valuation in 2009 | 24,304 |  |

| Valuation in 2014 | (20,258 | ) |

| Valuation in 2015 | 191,348 |  |

| Valuation in 2022 | 2,003,591 |  |

| Valuation in 2024 | 1,912,345 |  |

| Cost | 6,159,829 |  |

11,252,065 |  |

| If the land and buildings had not been revalued they would have been included at the following historical cost:

| 31/12/25 |  | 31/12/24

£ | £ |

| Cost | 6,159,829 |  | 6,159,829 |  |

6. | RESERVES

| Revaluation

| reserve

£ |

| At 1 January 2025

| and 31 December 2025 | 4,508,908 |  |

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

| The Report of the Auditors was unqualified.

| Mr Conaill McGrady (Senior Statutory Auditor)

| for and on behalf of M.B.Mc Grady & Co

| Ballylough Enterprises Limited (Registered number: NI014885) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | CONTINGENT LIABILITIES

| The directors have confirmed that there were no contingent liabilities which should be disclosed at 31st December 2025.

9. | CAPITAL COMMITMENTS

| The directors have confirmed that there were no capital commitments at 31st December 2025.

10. | OTHER FINANCIAL COMMITMENTS

| At the reporting date, the Company held bank securities as follows:

| 1. All monies Freehold 1st legal charge held over the assets of Unit 2, Palmermount Industrial Estate, Dundonald;

| 2. All monies Freehold 1st legal charge held over the assets of Unit 3 Palmermount Industrial Estate, Dundonald;

| 3. All monies Freehold 1st legal charge held over the assets of Unit 5 and Yard at Palmermount Industrial Estate, Dundonald;

| 4. All monies company guarantee

11. | RELATED PARTY DISCLOSURES

| The company was under the control of Mr Watson throughout the current and previous year. Mr Watson is the managing director and majority shareholder.

| All transactions with related parties are carried out at arms length and associated costs are correctly recorded throughout the company accounts.