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Registration number: NI640280

Torre Asset Management Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 August 2025

Torre Asset Management Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 5

Torre Asset Management Limited

(Registration number: NI640280)
Balance Sheet as at 31 August 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Debtors | 4 | 62,553 | 63,203
Creditors: Amounts falling due within one year | 5 | (11,636) | (11,611)
Net assets |  | 50,917 | 51,592
Capital and reserves |  |  |
Called up share capital | 6 | 2 | 2
Retained earnings |  | 50,915 | 51,590
Shareholders' funds |  | 50,917 | 51,592

For the financial year ending 31 August 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 23 April 2026 and signed on its behalf by:

......................................... Mr S Morrison Director

Torre Asset Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1 | General information

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

The address of its registered office is:
5 Millennium Industrial Estate
Woodside Road
BALLYMENA
County Antrim
BT42 4QJ

These financial statements were authorised for issue by the Board on 23 April 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The presentational currency of these financial statements is sterling and amounts have been rounded to the nearest £1.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Tax

The tax expense for the period comprises current tex. 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.

Trade debtors

Trade debtors are amounts due from customers for 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.

Torre Asset Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the related contractual arrangements. An equity arrangement is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction.
The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised by transaction value and subsequently measured at their settlement value.
Impairment
For financial assets carried at amortised cost, the amount of impairment is the difference between the assets carrying amount and the present value of estimated future cashflows, discounted at the financial asset's original effective interest rate. For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occuring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

Torre Asset Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 61,980 | 62,630
Other debtors | 573 | 573
| 62,553 | 63,203

5 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Amounts due to related parties | 7 | 10,961 | 10,961
Accruals |  | 675 | 650
|  | 11,636 | 11,611

6 | Share capital

Allotted, called up and not fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each of £1 each | 2 | 2 | 2 | 2

Torre Asset Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

7 | Related party transactions

Key management personnel

The directors are deemed to be the key management personnel who received no remuneration from the company in either the current or prior year.

Summary of transactions with all entities with joint control or significant interest

The company had services paid for on its behalf by entities with joint control or significant influence in both the current and prior year.

Income and receivables from related parties

2025 | Entities with joint control or significant influence £
Receipt of services | 650
Amounts receivable from related party | 61,980

2024 | Entities with joint control or significant influence £
Receipt of services | 1,250
Amounts receivable from related party | 62,630

Expenditure with and payables to related parties

2025 | Key management £
Amounts payable to related party | 10,961

2024 | Key management £
Amounts payable to related party | 10,961

8 | Parent and ultimate parent undertaking

The ultimate controlling party is Mr S V Morrison and Mr S Morrison.