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REGISTERED NUMBER: SC244567 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Garry Hepburn Limited

| Garry Hepburn Limited (Registered number: SC244567) |

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 |

| Garry Hepburn Limited |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | Mr G Hepburn

| Mrs H Hepburn

| REGISTERED OFFICE: | Heritage House

| 141 Shore Street

| Fraserburgh

| Aberdeenshire

| AB43 9BP

| REGISTERED NUMBER: | SC244567 (Scotland)

| ACCOUNTANTS: | SBP

| Accountants

| 27 Finlayson Street

| Fraserburgh

| Aberdeenshire

| AB43 9JQ

| Garry Hepburn Limited (Registered number: SC244567) |

Balance Sheet

31 December 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 309,095 |  | 363,821 |  |

CURRENT ASSETS

Cash at bank | 6,516 |  | 6,027 |  |

CREDITORS

Amounts falling due within one year | 5 | 9,166 |  | 17,769 |  |

NET CURRENT LIABILITIES | (2,650 | ) | (11,742 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 306,445 |  | 352,079 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 6 | 306,345 |  | 351,979 |  |

SHAREHOLDERS' FUNDS | 306,445 |  | 352,079 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2026 and were signed on its behalf by:

Mr G Hepburn - Director

| Garry Hepburn Limited (Registered number: SC244567) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Garry Hepburn 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.

| Going concern

| The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

| Turnover

| Turnover represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

| Taxation

| Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current 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.

| Fixed asset investments

| The fixed asset investment represents the company's interest in the 'Pleiades BF155 LLP'. The value reported in the Balance Sheet represents the value of the capital and current accounts within the LLP.

3. | EMPLOYEES AND DIRECTORS

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

4. | FIXED ASSET INVESTMENTS

| Investments (neither listed nor unlisted) were as follows:

| 31.12.25 |  | 31.12.24

£ | £ |

| Investment in Pleiades LLP | 309,095 |  | 363,821 |  |

| Garry Hepburn Limited (Registered number: SC244567) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Taxation and social security | 6,579 |  | 16,193 |  |

| Other creditors | 2,587 |  | 1,576 |  |

9,166 |  | 17,769 |  |

6. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2025 | 351,979 |  |

| Profit for the year | 6,402 |  |

| Dividends | (52,036 | ) |

| At 31 December 2025 | 306,345 |  |

7. | ULTIMATE CONTROLLING PARTY

| The company is controlled by Mr G.Hepburn and Mrs H.Hepburn.