Norton Centre (Aberdeen) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Norton Centre (Aberdeen) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC637448 . The registered office is Unit 2 Poynernook Road, Aberdeen, AB11 5RW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies are set out below.

2.2. Going Concern Disclosure

The balance sheet reports net current liabilities arising from repair expenditure incurred following the parent undertaking's acquisition of the company on 30 June 2025. The parent undertaking has confirmed its ongoing financial support. The directors are satisfied that the company will continue to meet its liabilities as they fall due. Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental income and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Rental income

Rental income on assets leased under operating leases is recognised on a straight-line basis over the lease term.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

2.5. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets are assessed for indicators or impairment at each reporting end date.

...CONTINUED

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Norton Centre (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Financial Instruments - continued

Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

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 assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.7. Taxation

The tax expense represents the sum of the tax currently payable and deferred tax movements.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that were never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and that obligation can be estimated reliably.

Provisions are measured as the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

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Norton Centre (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Tangible Assets

	Investment Properties
	£
Cost or Valuation
As at 1 January 2025	1
Revaluation	384,999

As at 31 December 2025	385,000

Net Book Value
As at 31 December 2025	385,000

As at 1 January 2025	1

Cost or valuation as at 31 December 2025 represented by:

	Investment Properties
	£
At valuation	385,000

	385,000

The investment property comprises of an office building. The investment property is stated at fair value based on a market valuation carried out by Neil Duckworth MA MRICS, an independent professionally qualified valuer, on 8 September 2025.

If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:

	Investment Properties
	£
Cost	1

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	310	2,733
Other debtors	2,329	3,059

	2,639	5,792

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Norton Centre (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	3,867	-
Amounts owed to participating interests	25,000	-
Other creditors	2,260	1,880
Taxation and social security	-	5,754

	31,127	7,634

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

8. Ultimate Controlling Party

The company's immediate and ultimate parent undertaking is Grandholm Production Services Limited , a company incorporated in Scotland, which holds 100% of the company's issued share capital.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		385,000		1

			385,000		1
CURRENT ASSETS
Debtors	5	2,639		5,792
Cash at bank and in hand		13,453		25,948

		16,092		31,740
Creditors: Amounts Falling Due Within One Year	6	(31,127 )		(7,634 )

NET CURRENT ASSETS (LIABILITIES)			(15,035 )		24,106

TOTAL ASSETS LESS CURRENT LIABILITIES			369,965		24,107

PROVISIONS FOR LIABILITIES
Deferred Taxation			(96,250 )		-

NET ASSETS			273,715		24,107

CAPITAL AND RESERVES
Called up share capital	7		2		2
Fair value reserve			288,749		-
Profit and Loss Account			(15,036 )		24,105

SHAREHOLDERS' FUNDS			273,715		24,107