REGISTERED NUMBER: 13051115 (England and Wales)

Unaudited Financial Statements

for the Period 1 December 2024 to 31 October 2025

for

Norsec Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr Robert David Sawtell

Mrs Lisa Jane Sawtell

REGISTERED OFFICE:

Queen Street Chambers

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BUSINESS ADDRESS:

Ergo Park

Sheffield

South Yorkshire

S20 7JP

REGISTERED NUMBER:

13051115 (England and Wales)

ACCOUNTANTS:

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norsec Ltd for the period ended 31 October 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Norsec Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Norsec Ltd and state those matters that we have agreed to state to the Board of Directors of Norsec Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norsec Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Norsec Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Norsec Ltd. You consider that Norsec Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Norsec Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

18 June 2026

FIXED ASSETS

Investments

4

1,045,037

-

CURRENT ASSETS

Debtors

5

100,000

100

Cash in hand

200

-

100,200

100

CREDITORS

Amounts falling due within one year

6

(442,475

)

-

NET CURRENT (LIABILITIES)/ASSETS

(342,275

)

100

TOTAL ASSETS LESS CURRENT LIABILITIES

702,762

100

CREDITORS

Amounts falling due after more than one year

7

(201,000

)

-

NET ASSETS

501,762

100

CAPITAL AND RESERVES

Called up share capital

200

100

Retained earnings

501,562

-

501,762

100

The company is entitled to exemption from audit under Section 480 of the Companies Act 2006 for the period ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 18 June 2026 and were signed on its behalf by:

Mr Robert David Sawtell - Director

1.	STATUTORY INFORMATION

Norsec Ltd is a private company, limited by shares , registered in England and Wales. 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 (£).

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial assets and financial 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 contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

1,045,037

At 31 October 2025

1,045,037

NET BOOK VALUE

At 31 October 2025

1,045,037

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

100,000

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

442,475

-

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

201,000

-

8.	RELATED PARTY DISCLOSURES

The company acquired the shares of Therco-Serck Holdings Limited from the existing shareholders in the period under review. The shares beneficially owned by David Toseland were purchased by the company utilising a loan provided by Therco-Serck Ltd the subsidiary company of Therco-Serck Holdings Limited.. A dividend of £501,562 was paid through the subsidiary companies to the holding company to part repay this loan leaving a balance of £543,251 outstanding to Mr Toseland.