REGISTERED NUMBER: SC134398 (Scotland)

Financial Statements for the Year Ended 31 December 2025

for

TI UK Contracting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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

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

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.

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 ) .

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

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 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

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