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REGISTERED NUMBER: SC550045 (Scotland)

| Tartan Commercial Limited |

| Unaudited Financial Statements |

| for the Year Ended 30 November 2025 |

| Tartan Commercial Limited (Registered number: SC550045) |

Contents of the Financial Statements

for the Year Ended 30 November 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Tartan Commercial Limited |

Company Information

for the Year Ended 30 November 2025

| DIRECTORS: | A T Hadden

| N C Watson

| REGISTERED OFFICE: | The Lighthouse

| Unit 2

| Heugh Road Industrial Estate

| North Berwick

| East Lothian

| EH39 5PX

| REGISTERED NUMBER: | SC550045 (Scotland)

| ACCOUNTANTS: | Whitelaw Wells

| The Lighthouse

| Heugh Road

| North Berwick

| EH39 5PX

| Tartan Commercial Limited (Registered number: SC550045) |

Balance Sheet

30 November 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,426 |  | 3,626 |  |

Investments | 5 | 138,089 |  | 134,114 |  |

Investment property | 6 | 1,750,000 |  | 1,750,000 |  |

1,890,515 |  | 1,887,740 |  |

CURRENT ASSETS

Debtors | 7 | 32,630 |  | 41,433 |  |

Cash at bank | 3,031 |  | 60,802 |  |

35,661 |  | 102,235 |  |

CREDITORS

Amounts falling due within one year | 8 | 1,623,650 |  | 1,580,213 |  |

NET CURRENT LIABILITIES | (1,587,989 | ) | (1,477,978 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 302,526 |  | 409,762 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (210,567 | ) | (210,567 | ) |

PROVISIONS FOR LIABILITIES | (24,447 | ) | (64,752 | ) |

NET ASSETS | 67,512 |  | 134,443 |  |

| Tartan Commercial Limited (Registered number: SC550045) |

Balance Sheet - continued

30 November 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 2 |  | 2 |  |

Fair value reserve | 119,337 |  | 119,337 |  |

Retained earnings | (51,827 | ) | 15,104 |  |

67,512 |  | 134,443 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2026 and were signed on its behalf by:

N C Watson - Director

| Tartan Commercial Limited (Registered number: SC550045) |

Notes to the Financial Statements

for the Year Ended 30 November 2025

1. | STATUTORY INFORMATION

| Tartan Commercial 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 represents the receipt of rent and other related services.

| Rent is recognised in accordance with the lease agreement. Where there are lease incentives such as rent free periods the rent relating to theses incentives is accrued and subsequently released of the full period of the lease agreement.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 20% on reducing balance

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Financial instruments

| The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

| All loans with related parties are repayable on demand.

| 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.

| Tartan Commercial Limited (Registered number: SC550045) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 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.

| 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.

| Going concern

| The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade for the foreseeable future.The company will continue to receive support from its parent company Chardon Commercial Properties Limited.

| Provisions

| Provisions are recognised where the company has a present obligation as a result of a past event, it is probable that the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 5 (2024 - 7 ) .

| Tartan Commercial Limited (Registered number: SC550045) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 December 2024

| and 30 November 2025 | 111,109 |  |

| DEPRECIATION

| At 1 December 2024 | 107,483 |  |

| Charge for year | 1,200 |  |

| At 30 November 2025 | 108,683 |  |

| NET BOOK VALUE

| At 30 November 2025 | 2,426 |  |

| At 30 November 2024 | 3,626 |  |

5. | FIXED ASSET INVESTMENTS

2025 | 2024 |

£ | £ |

| Shares in group undertakings | 100 |  | 51 |  |

| Loans to group undertakings | 137,989 |  | 134,063 |  |

138,089 |  | 134,114 |  |

| Additional information is as follows:

| Shares in

| group

| undertakings

£ |

| COST

| At 1 December 2024 | 51 |  |

| Additions | 49 |  |

| At 30 November 2025 | 100 |  |

| NET BOOK VALUE

| At 30 November 2025 | 100 |  |

| At 30 November 2024 | 51 |  |

| Tartan Commercial Limited (Registered number: SC550045) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 2025

5. | FIXED ASSET INVESTMENTS - continued

| Loans to

| group

| undertakings

£ |

| At 1 December 2024 | 134,063 |  |

| New in year | 3,926 |  |

| At 30 November 2025 | 137,989 |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| COST OR VALUATION

| At 1 December 2024

| and 30 November 2025 | 1,750,000 |  |

| NET BOOK VALUE

| At 30 November 2025 | 1,750,000 |  |

| At 30 November 2024 | 1,750,000 |  |

| The directors have considered the fair value of the investment properties at the year end and have provided an assessment of the value based on current market conditions. Based on their knowledge of the business and the property market they have assessed the value of the property to be £1,750,000 as at 30 November 2025.

| Cost or valuation at 30 November 2025 is represented by:

£ |

| Valuation in 2020 | (96,980 | ) |

| Valuation in 2022 | 228,923 |  |

| Valuation in 2023 | 150,000 |  |

| Cost | 1,468,057 |  |

1,750,000 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 8,607 |  | 11,770 |  |

| Other debtors | 24,023 |  | 29,663 |  |

32,630 |  | 41,433 |  |

| Tartan Commercial Limited (Registered number: SC550045) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 18,934 |  | 18,934 |  |

| Trade creditors | 11,875 |  | 3,842 |  |

| Taxation and social security | 26,076 |  | 12,261 |  |

| Other creditors | 1,566,765 |  | 1,545,176 |  |

1,623,650 |  | 1,580,213 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans | 210,567 |  | 210,567 |  |

10. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 30,915 |  | 1,643 |  |

| Between one and five years | 62,752 |  | - |  |

93,667 |  | 1,643 |  |

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

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 30 November 2025 and 30 November 2024:

2025 | 2024 |

£ | £ |

| A T Hadden

| Balance outstanding at start of year | 10,000 |  | - |  |

| Amounts advanced | 8,784 |  | 10,000 |  |

| Amounts repaid | (4,000 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 14,784 |  | 10,000 |  |

| Tartan Commercial Limited (Registered number: SC550045) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 2025

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

| N C Watson

| Balance outstanding at start of year | 5,000 |  | 5,000 |  |

| Amounts advanced | 200 |  | - |  |

| Amounts repaid | (20,049 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (14,849 | ) | 5,000 |  |

| The loans to directors are unsecured and repayable on demand. Loans under £10,000 are interest free and interest is charged at 3.75% on loans over £10,000.

12. | RELATED PARTY DISCLOSURES

| The company owns 100% of the share capital in Lighthouse Workspace Limited. Included in loans to subsidiaries is an amount of £137,989 (2024 - 134,063) due to the company.

13. | ULTIMATE CONTROLLING PARTY

| The controlling party is Chardon Commercial Properties Limited.

| Included in other creditors is a loan from Chardon Commercial Properties Limited of £1,519,500 (2024 - £1,523,000). The loan from the parent company is interest free and payable on demand.

14. | SECURITY

| A standard security charge was created on 22 November 2024 in favour of Allica Bank Limited over 1 Tantallon Road, North Berwick EH39 5NF (also known as the Lighthouse, Unit 2 Heugh Road, Industrial Estate, North Berwick, EH39 5PX).