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REGISTERED NUMBER: 01065772 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS

| FOR THE YEAR ENDED 31 MARCH 2025

| FOR

| NORTON ENGINEERING ALLOYS CO. LIMITED

NORTON ENGINEERING ALLOYS CO. LIMITED (REGISTERED NUMBER: 01065772)

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

NORTON ENGINEERING ALLOYS CO. LIMITED

COMPANY INFORMATION

for the Year Ended 31 March 2025

| DIRECTOR: | A J Green

| REGISTERED OFFICE: | Norton Grove Ind. Estate

| Norton

| Malton

| North Yorkshire

| YO17 9HQ

| REGISTERED NUMBER: | 01065772 (England and Wales)

| ACCOUNTANTS: | Sowerby

| Chartered Accountants

| Beckside Court

| Annie Reed Road

| Beverley

| East Yorkshire

| HU17 0LF

NORTON ENGINEERING ALLOYS CO. LIMITED (REGISTERED NUMBER: 01065772)

BALANCE SHEET

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,565,614 |  | 1,610,862 |  |

CURRENT ASSETS

Stocks | 360,803 |  | 684,967 |  |

Debtors | 5 | 617,254 |  | 777,658 |  |

978,057 |  | 1,462,625 |  |

CREDITORS

Amounts falling due within one year | 6 | 849,012 |  | 1,113,540 |  |

NET CURRENT ASSETS | 129,045 |  | 349,085 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,694,659 |  | 1,959,947 |  |

PROVISIONS FOR LIABILITIES | 106,899 |  | 191,470 |  |

NET ASSETS | 1,587,760 |  | 1,768,477 |  |

CAPITAL AND RESERVES

Called up share capital | 4,000 |  | 4,000 |  |

Retained earnings | 1,583,760 |  | 1,764,477 |  |

SHAREHOLDERS' FUNDS | 1,587,760 |  | 1,768,477 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

NORTON ENGINEERING ALLOYS CO. LIMITED (REGISTERED NUMBER: 01065772)

BALANCE SHEET - continued

31 March 2025

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 14 May 2026 and were signed by:

A J Green - Director

NORTON ENGINEERING ALLOYS CO. LIMITED (REGISTERED NUMBER: 01065772)

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Norton Engineering Alloys Co. Limited is a company incorporated and domiciled in England and has its registered office and principle place of business at Norton Grove Industrial Estate, Norton, YO17 9HQ.

| The principal activity of the Company is manufacturing architectural metalwork.

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

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.

| Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

| The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

| Changes in accounting policies

| Effective 1 April 2023, the Company changed its accounting policy to measure its land and buildings using the revaluation model. Previously the Company measured its land and buildings using the cost model.

| The change in policy has been made because it is management's opinion that the revaluation model more accurately reflects the current value than the cost model.

| Turnover

| Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

| Turnover from the sale of goods is recognised at the point of sale.

| Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

| Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

NORTON ENGINEERING ALLOYS CO. LIMITED (REGISTERED NUMBER: 01065772)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Land and buildings | - | 2% on cost

| Plant and machinery etc | - | 10% to 25% on cost and 20% to 25% on cost

| Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

| Effective 1 April 2023, land and buildings are measured using the revaluation model and are shown at their fair value.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

| In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

| 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.

| 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 32 (2024 - 36 ) .

NORTON ENGINEERING ALLOYS CO. LIMITED (REGISTERED NUMBER: 01065772)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 April 2024 | 1,500,000 |  | 1,873,080 |  | 3,373,080 |  |

| Additions | - |  | 2,844 |  | 2,844 |  |

| Disposals | - |  | (7,300 | ) | (7,300 | ) |

| At 31 March 2025 | 1,500,000 |  | 1,868,624 |  | 3,368,624 |  |

| DEPRECIATION

| At 1 April 2024 | - |  | 1,762,218 |  | 1,762,218 |  |

| Charge for year | - |  | 48,092 |  | 48,092 |  |

| Eliminated on disposal | - |  | (7,300 | ) | (7,300 | ) |

| At 31 March 2025 | - |  | 1,803,010 |  | 1,803,010 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,500,000 |  | 65,614 |  | 1,565,614 |  |

| At 31 March 2024 | 1,500,000 |  | 110,862 |  | 1,610,862 |  |

| Cost or valuation at 31 March 2025 is represented by:

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| Valuation in 2024 | 618,672 |  | - |  | 618,672 |  |

| Cost | 881,328 |  | 1,868,624 |  | 2,749,952 |  |

1,500,000 |  | 1,868,624 |  | 3,368,624 |  |

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

2025 | 2024 |

£ | £ |

| Cost | 881,328 |  | 881,328 |  |

| Aggregate depreciation | 577,792 |  | 577,792 |  |

| Value of land in freehold land and buildings | 1,500,000 |  | 1,500,000 |  |

| Freehold land and building were valued on an open market basis on 23 September 2024 by Cundalls .

NORTON ENGINEERING ALLOYS CO. LIMITED (REGISTERED NUMBER: 01065772)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | 166,170 |  | 296,363 |  |

| Amounts owed by parent company | 326,153 |  | 326,153 |  |

| Other debtors | 124,931 |  | 155,142 |  |

617,254 |  | 777,658 |  |

| The amount owed by group undertakings is in respect of amounts due from parent companies. The balance does not attract interest and although strictly repayable on demand, £326,153 (2024: £326,153) will not be repaid within 12 months.

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 490,346 |  | 481,334 |  |

| Trade creditors | 279,096 |  | 508,999 |  |

| Taxation and social security | 52,850 |  | 72,179 |  |

| Other creditors | 26,720 |  | 51,028 |  |

849,012 |  | 1,113,540 |  |

7. | ULTIMATE CONTROLLING PARTY

| Following group restructuring the company is under the control of it's directors by virtue of them owning all the shares in the ultimate holding company (Neaco Holdings Limited).