REGISTERED NUMBER: SC150224 (Scotland)

Unaudited Financial Statements

for the Period 1 July 2025 to 31 December 2025

for

Norkram Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T J Kroll

Mr J Macek

Mr A J Gray

REGISTERED OFFICE:

Norkram Limited

Longside Airfield Industrial Estate

Peterhead

AB42 3DY

REGISTERED NUMBER:

SC150224 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

FIXED ASSETS

Tangible assets

4

490,192

522,893

Investments

5

2,420

2,420

492,612

525,313

CURRENT ASSETS

Stocks

48,831

15,005

Debtors

6

583,078

667,674

Cash at bank

238,884

148,534

870,793

831,213

CREDITORS

Amounts falling due within one year

7

354,820

346,527

NET CURRENT ASSETS

515,973

484,686

TOTAL ASSETS LESS CURRENT LIABILITIES

1,008,585

1,009,999

PROVISIONS FOR LIABILITIES

107,842

130,723

NET ASSETS

900,743

879,276

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

3,990

3,990

Retained earnings

896,653

875,186

SHAREHOLDERS' FUNDS

900,743

879,276

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

The members have not required the company to obtain an audit of its financial statements for the period 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 15 September 2026 and were signed on its behalf by:

Mr A J Gray - Director

1.	STATUTORY INFORMATION

Norkram 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.

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of goods to customers. Revenue is recognised at the point of sale.

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

-

10% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Taxation

Taxation for the period comprises current and deferred 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 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 17 (2025 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2025

942,091

1,852

28,617

12,227

984,787

Additions

2,922

1,170

8,700

1,744

14,536

Disposals

(4,828

)

-

-

-

(4,828

)

At 31 December 2025

940,185

3,022

37,317

13,971

994,495

DEPRECIATION

At 1 July 2025

428,776

1,488

19,778

11,852

461,894

Charge for period

42,478

155

2,211

383

45,227

Eliminated on disposal

(2,818

)

-

-

-

(2,818

)

At 31 December 2025

468,436

1,643

21,989

12,235

504,303

NET BOOK VALUE

At 31 December 2025

471,749

1,379

15,328

1,736

490,192

At 30 June 2025

513,315

364

8,839

375

522,893

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 July 2025

and 31 December 2025

2,420

NET BOOK VALUE

At 31 December 2025

2,420

At 30 June 2025

2,420

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Norkram AS

Registered office: Byporten, Strandgata 45, 6905 FLORO, 4601 KINN, Norway

Nature of business: Other technical consulting services

%

Class of shares:

holding

Ordinary

100.00

Norkram BV

Registered office: Pastorielaantje 40, 3471 XK, Kamerik, The Netherlands

Nature of business: Construction of utility projects for fluids

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

30.6.25

£

£

Trade debtors

256,535

352,809

Amounts owed by group undertakings

223,677

206,476

Amounts recoverable on contract

35,485

25,681

Other debtors

67,381

82,708

583,078

667,674

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

30.6.25

£

£

Trade creditors

234,270

186,099

Taxation and social security

102,119

135,415

Other creditors

18,431

25,013

354,820

346,527

8.	RELATED PARTY DISCLOSURES

Norkram Limited owns 100% of the share capital of Taylor & Son Engineering Limited. During the period the company made sales of £15,636 (2025 - £101,035) to Taylor & Son Engineering Limited. The balance outstanding due from Taylor & Son Engineering Limited at the year end was £nil (2025 - £8,299). The company made purchases of £23,969 (2025 - £42,211) from Taylor & Son Engineering Limited. The balance outstanding due to Taylor & Son Engineering Limited at the year end was £16,266 (2025 - £13,236) and is included in Trade Creditors.

Taylor & Son Engineering Limited

The amount owed to Norkram Limited from Taylor & Son Engineering as at 31 December 2025 was £135,686 (2025 £129,490).

Norkram AS

The amount owed to Norkram Limited from Norkram AS as at 31 December 2025 was £87,468 (2025 £76,986).

Norkram BV

The amount owed to Norkram Limited from Norkram BV as at 31 December 2025 was £523 (2025 £nil).

There are no specific terms of repayment on the inter-company loans and no interest is being charged.

9.	ULTIMATE CONTROLLING PARTY

The controlling parties are Exquip International Ltd and Valetudo Centrum SRO.

The ultimate controlling parties are Jan-Pit Kroll, Timm Jorgen Kroll and Diana Mackova.