The financial statements were approved and authorised for issue by the Board of Directors on 9 June 2026.

Signed on behalf of the Board of Directors

Second Afton Securities Limited is a private company limited by shares, registered in Scotland. The address of the registered office and registration number is given in the company information on page 1 of these financial statements.

These financial statements have been prepared in accordance with FRS 102 the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland as adapted by Section 1A of FRS 102 and the Companies Act 2006.

The financial statements have been prepared on the historical cost basis.

The financial statements have been prepared on a going concern basis. The directors have assessed the company's ability to continue as a going concern and have reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. They they continue to adopt the going concern basis of accounting in preparing the financial statements.

Stock of trading properties is stated at cost being the lower of cost and net realisable value.

The financial statements have been prepared on a going concern basis. The directors have assessed the company's ability to continue as a going concern and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Turnover represents amounts receivable, exclusive of Value Added Tax, from sales of property and rental income where there is a right to consideration from trading activities.

The bank loans are secured by standard securities and a floating charge on the company's assets, together with cross guarantees from Afton Group Holdings Limited and Afton Estates Limited.

The company has an unrecognised deferred tax asset of £3,525 (2024: £3,525) which has arisen from losses carried forward. Its recoverability is dependent upon future taxable trade profits, the likelikhood of which cannot at this stage be determined with reasonable certainty.