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REGISTERED NUMBER: SC083448 (Scotland)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

| FOR |

| BRAEHEAD METALS LIMITED |

BRAEHEAD METALS LIMITED (REGISTERED NUMBER: SC083448)

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 |

BRAEHEAD METALS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | B Cassidy

| R M Easdale

| J D Easdale

| SECRETARY: | G L Watt

| REGISTERED OFFICE: | 121 Barfillan Drive

| Glasgow

| G52 1BH

| REGISTERED NUMBER: | SC083448 (Scotland)

| AUDITORS: | Bannerman Johnstone Maclay Limited

| Chartered Accountants

| and Statutory Auditor

| 213 St Vincent Street

| Glasgow

| G2 5QY

| BANKERS: | The Royal Bank of Scotland plc

| 23 Sauchiehall Street

| Glasgow

| G2 3AD

| SOLICITORS: | Rennie McInnes LLP

| Douglas House

| 42 Main Street

| Milngavie

| Glasgow

| G62 6BU

BRAEHEAD METALS LIMITED (REGISTERED NUMBER: SC083448)

BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 45,592 |  | 29,603 |  |

CURRENT ASSETS

Stocks | 57,219 |  | 39,946 |  |

Debtors | 5 | 1,278,724 |  | 1,037,090 |  |

Cash at bank and in hand | 63,109 |  | 84,684 |  |

1,399,052 |  | 1,161,720 |  |

CREDITORS

Amounts falling due within one year | 6 | 438,090 |  | 193,187 |  |

NET CURRENT ASSETS | 960,962 |  | 968,533 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,006,554 |  | 998,136 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 1,006,454 |  | 998,036 |  |

SHAREHOLDERS' FUNDS | 1,006,554 |  | 998,136 |  |

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 17 August 2026 and were signed on its behalf by:

J D Easdale - Director

BRAEHEAD METALS LIMITED (REGISTERED NUMBER: SC083448)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Braehead Metals 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

| Monetary amounts in these financial statements are rounded to the nearest £.

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.

| Turnover

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

| 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 | - | 25% on cost, 15% on reducing balance and 10% on cost

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' 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.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

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

| Basic financial liabilities

| Basic financial liabilities, including certain creditors and balances from related undertakings, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

BRAEHEAD METALS LIMITED (REGISTERED NUMBER: SC083448)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| 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, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Derecognition of financial liabilities

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

| 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.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 9 (2024 - 10 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 9,591 |  | 324,650 |  | 334,241 |  |

| Additions | - |  | 24,036 |  | 24,036 |  |

| At 31 December 2025 | 9,591 |  | 348,686 |  | 358,277 |  |

| DEPRECIATION

| At 1 January 2025 | 9,591 |  | 295,047 |  | 304,638 |  |

| Charge for year | - |  | 8,047 |  | 8,047 |  |

| At 31 December 2025 | 9,591 |  | 303,094 |  | 312,685 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  | 45,592 |  | 45,592 |  |

| At 31 December 2024 | - |  | 29,603 |  | 29,603 |  |

BRAEHEAD METALS LIMITED (REGISTERED NUMBER: SC083448)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | 109,934 |  | 244,486 |  |

| Amounts owed by group undertakings | 1,141,450 |  | 771,795 |  |

| Amounts owed by related undertakings | 16,275 |  | 7,660 |  |

| Prepayments and accrued income | 11,065 |  | 13,149 |  |

1,278,724 |  | 1,037,090 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 252,252 |  | 16,292 |  |

| Amounts owed to related undertakings | 15,000 |  | 15,000 |  |

| VAT | 123,420 |  | 118,382 |  |

| Accrued expenses | 47,418 |  | 43,513 |  |

438,090 |  | 193,187 |  |

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

| The Report of the Auditors was unqualified.

| Douglas Paton BSc CA (Senior Statutory Auditor)

| for and on behalf of Bannerman Johnstone Maclay Limited

8. | CONTINGENT LIABILITIES

| There is a contingent liability for inter-company guarantees given to the company's bankers in respect of overdraft facilities given to group and related companies. This is supported by a bond and floating charge over all the assets of the company and a standard security over certain properties owned by the group.

9. | ULTIMATE CONTROLLING PARTY

| The immediate and ultimate parent undertaking and controlling party is R. M. Easdale & Company Limited, which prepares group financial statements. The registered office of R. M. Easdale & Company Limited is 121 Barfillan Drive, Glasgow, Scotland, G52 1BH.