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REGISTERED NUMBER: SC134398 (Scotland)

Financial Statements for the Year Ended 31 December 2025

for

TI UK Contracting Limited

TI UK Contracting Limited (Registered number: SC134398)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

TI UK Contracting Limited

Company Information

for the Year Ended 31 December 2025

| DIRECTOR: | T Stark

| REGISTERED OFFICE: | Tay House

| 300 Bath Street

| Glasgow

| G2 4JR

| REGISTERED NUMBER: | SC134398 (Scotland)

| AUDITORS: | McLay McAlister & McGibbon LLP

| Chartered Accountants and Statutory Auditors

| 145 St Vincent Street

| Glasgow

| G2 5JF

TI UK Contracting Limited (Registered number: SC134398)

Balance Sheet

31 December 2025

| 31.12.25 |  | 31.12.24

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 83,369 |  | 99,090 |  |

Investments | 5 | 2,004,095 |  | 308,694 |  |

2,087,464 |  | 407,784 |  |

CURRENT ASSETS

Debtors | 6 | 224,823 |  | 348,508 |  |

Cash at bank | 1,554,167 |  | 4,471,562 |  |

1,778,990 |  | 4,820,070 |  |

CREDITORS

Amounts falling due within one year | 7 | (2,846,400 | ) | (4,197,812 | ) |

NET CURRENT (LIABILITIES)/ASSETS | (1,067,410 | ) | 622,258 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,020,054 |  | 1,030,042 |  |

CREDITORS

Amounts falling due after more than one year | 8 | - |  | (36,199 | ) |

NET ASSETS | 1,020,054 |  | 993,843 |  |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Fair value reserve | 10 | 169,028 |  | - |  |

Retained earnings | 850,026 |  | 992,843 |  |

1,020,054 |  | 993,843 |  |

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 July 2026 and were signed by:

T Stark - Director

TI UK Contracting Limited (Registered number: SC134398)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| TI UK Contracting Limited 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 as modified by the revaluation of certain assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| In respect of long-term contracts, turnover is calculated using the total contract value and the proportion of progress completed on said contract during the reporting period. This progress is calculated by referring to the cost incurred during the period in relation to the total estimated costs to complete the contracted work. Full provision is made for losses on all contracts in the year in which they are first foreseen.

| 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery etc | - | 25% on cost

| The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Financial instruments

| Debtors

| Trade and other debtors are recognised at the settlement amount due with appropriate allowances for irrecoverable amounts when there is objective evidence the asset is impaired.

| Cash and cash equivalents

| Cash and cash equivalents in the balance sheet comprise cash in hand and bank overdrafts.

| Creditors

| Trade and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

| 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.

TI UK Contracting Limited (Registered number: SC134398)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| 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 purchases contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to the profit or less over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

| 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.

| Fixed asset investments

| Fixed asset listed investments are stated at market value, where gains and losses are recognised in the profit and loss account.

| Fixed asset unlisted investments are stated at cost less provision for diminution in value.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 5 (2024 - 5 ) .

TI UK Contracting Limited (Registered number: SC134398)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2025 | 111,397 |  |

| Additions | 10,416 |  |

| At 31 December 2025 | 121,813 |  |

| DEPRECIATION

| At 1 January 2025 | 12,307 |  |

| Charge for year | 26,137 |  |

| At 31 December 2025 | 38,444 |  |

| NET BOOK VALUE

| At 31 December 2025 | 83,369 |  |

| At 31 December 2024 | 99,090 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 92,876 |  |

| DEPRECIATION

| At 1 January 2025 | 1,995 |  |

| Charge for year | 23,220 |  |

| At 31 December 2025 | 25,215 |  |

| NET BOOK VALUE

| At 31 December 2025 | 67,661 |  |

| At 31 December 2024 | 90,881 |  |

TI UK Contracting Limited (Registered number: SC134398)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | FIXED ASSET INVESTMENTS

| Shares in |

| group |  | Listed |  | Unlisted |

| undertakings |  | investments |  | investments |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 January 2025 | 298,694 |  | - |  | 10,000 |  | 308,694 |  |

| Additions | - |  | 1,143,026 |  | 392,696 |  | 1,535,722 |  |

| Revaluations | - |  | 99,048 |  | 60,631 |  | 159,679 |  |

| At 31 December 2025 | 298,694 |  | 1,242,074 |  | 463,327 |  | 2,004,095 |  |

| NET BOOK VALUE

| At 31 December 2025 | 298,694 |  | 1,242,074 |  | 463,327 |  | 2,004,095 |  |

| At 31 December 2024 | 298,694 |  | - |  | 10,000 |  | 308,694 |  |

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

| Shares in |

| group |  | Listed |  | Unlisted |

| undertakings |  | investments |  | investments |  | Totals

£ | £ | £ | £ |

| Valuation in 2025 | - |  | 99,048 |  | 60,631 |  | 159,679 |  |

| Cost | 298,694 |  | 1,143,026 |  | 402,696 |  | 1,844,416 |  |

298,694 |  | 1,242,074 |  | 463,327 |  | 2,004,095 |  |

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| European Manning Services Ltd.

| Registered office: Tay House, 300 Bath Street, Glasgow, G2 4JR

| Nature of business: Supply of labour

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 10,830 |  | 10,830 |  |

| Ti Korea Co., Ltd.

| Registered office: 305 Dongsang-Ro, Onyang-Eup, Ulig-Gun, Ulsan, 689-901, South Korea.

| Nature of business: Supplier of insulation

| %

| Class of shares: | holding |

| Common stock | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 69,636 |  | 264,873 |  |

| Profit for the year | 431,490 |  | 361,205 |  |

TI UK Contracting Limited (Registered number: SC134398)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | FIXED ASSET INVESTMENTS - continued

| Ti Europe Contracting S.L.

| Registered office: CALLITX, 4 4 4B - 03590 Altea (Alicante)

| Nature of business: Supply of labour

| %

| Class of shares: | holding |

| Ordinary shares | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 85,569 |  | 20,914 |  |

| Profit for the year | 64,655 |  | 12,187 |  |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade debtors | 199,385 |  | 140,859 |  |

| Other debtors | 25,438 |  | 207,649 |  |

224,823 |  | 348,508 |  |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Hire purchase contracts (see note 9) | 36,199 |  | 36,438 |  |

| Trade creditors | 132,423 |  | 108,684 |  |

| Taxation and social security | 86,657 |  | 64,949 |  |

| Other creditors | 2,591,121 |  | 3,987,741 |  |

2,846,400 |  | 4,197,812 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Hire purchase contracts (see note 9) | - |  | 36,199 |  |

9. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 31.12.25 |  | 31.12.24 |

£ | £ |

| Net obligations repayable:

| Within one year | 36,199 |  | 36,438 |  |

| Between one and five years | - |  | 36,199 |  |

36,199 |  | 72,637 |  |

TI UK Contracting Limited (Registered number: SC134398)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

9. | LEASING AGREEMENTS - continued

| Non-cancellable |

| operating leases |

| 31.12.25 |  | 31.12.24

£ | £ |

| Within one year | 4,921 |  | 3,937 |  |

10. | RESERVES

| Fair

| value

| reserve

£ |

| Profit and loss - FV | 169,028 |  |

| At 31 December 2025 | 169,028 |  |

11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Paul Martin (Senior Statutory Auditor)

| for and on behalf of McLay McAlister & McGibbon LLP

12. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,940 (2024: £14,891). Contributions totalling £831 (2024: £1,339) were payable to the fund at the balance sheet date and are included in creditors.

13. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

| In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

15. | ULTIMATE CONTROLLING PARTY

| The ultimate parent company and controlling party is Ti Con Group Companies Ltd, a company registered in Scotland.

| Ti Con Group Companies Ltd is the smallest and largest group for which consolidated financial statements are prepared, which include these results. A copy of the consolidated financial statements may be obtained from the registered office:

| c/o McLay, McAlister & McGibbon LLP

| 1st Floor

| 145 St Vincent Street

| Glasgow

| G2 5JF