REGISTERED NUMBER: SC684070 (Scotland)

NORELO LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Hamilton

REGISTERED OFFICE:

16 Royal Crescent

Glasgow

G3 7SL

REGISTERED NUMBER:

SC684070 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Tangible assets

4

115,960

30,912

CURRENT ASSETS

Debtors

5

41,277

55,866

Cash at bank

73,165

14,218

114,442

70,084

CREDITORS

Amounts falling due within one year

6

37,157

44,052

NET CURRENT ASSETS

77,285

26,032

TOTAL ASSETS LESS CURRENT LIABILITIES

193,245

56,944

CREDITORS

Amounts falling due after more than one year

7

(75,341

)

(9,281

)

PROVISIONS FOR LIABILITIES

(24,409

)

(5,874

)

NET ASSETS

93,495

41,789

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

93,395

41,689

SHAREHOLDERS' FUNDS

93,495

41,789

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

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

The financial statements were approved by the director and authorised for issue on 15 April 2026 and were signed by:

M Hamilton - Director

1.	STATUTORY INFORMATION

Norelo 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.

Turnover

Tangible fixed assets

Depreciation is provided 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 and machinery etc

-

25% on cost

Financial instruments

Basic financial instruments, including trade and other payables, bank loans and other loans that are classified as debt, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet. These assets are initially recognised at transaction price and are depreciated over their estimated useful lives.The interest element of these obligations is charged to the profit and loss account over the relevant period using the effective interest rate method.The capital element of future payments is treated as a liability.Rentals paid under operating leases are charged to the profit and loss account on a straightline basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

43,291

Additions

108,676

Disposals

(2,024

)

At 31 December 2025

149,943

DEPRECIATION

At 1 January 2025

12,379

Charge for year

22,415

Eliminated on disposal

(811

)

At 31 December 2025

33,983

NET BOOK VALUE

At 31 December 2025

115,960

At 31 December 2024

30,912

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

38,299

44,850

Other debtors

2,899

11,016

Tax recoverable

79

-

41,277

55,866

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

4,561

5,403

Hire purchase contracts

18,725

2,037

Trade creditors

150

-

Director's loan account

-

312

Taxation and social security

11,731

15,200

Other creditors

1,990

21,100

37,157

44,052

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans

-

4,561

Hire purchase contracts

75,341

4,720

75,341

9,281

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Bank loans

4,561

9,964

Hire purchase contracts

94,066

6,757

98,627

16,721

Hire purchase creditors have security over related assets.

The company's director has provided a personal guarantee to the company's bankers for all sums due.

9.	OTHER FINANCIAL COMMITMENTS

At 31 December 2025 the company was committed to making total payments under non-cancellable operating leases of £34,695 (2024, £63,034).

10.	RELATED PARTY DISCLOSURES