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REGISTERED NUMBER: 01395286 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DAYSTATE LIMITED

DAYSTATE LIMITED (REGISTERED NUMBER: 01395286)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

| Page |

Statement of Financial Position | 1 |  | to |  | 2

Notes to the Financial Statements | 3 |  | to |  | 7

DAYSTATE LIMITED (REGISTERED NUMBER: 01395286)

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2024

| 31.12.24 |  | 31.12.23

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 77,310 |  | 82,623 |  |

Investments | 6 | 1 |  | 1 |  |

77,311 |  | 82,624 |  |

CURRENT ASSETS

Stocks | 2,774,532 |  | 1,978,351 |  |

Debtors | 7 | 1,637,610 |  | 2,367,531 |  |

Cash at bank and in hand | 452,934 |  | 416,935 |  |

4,865,076 |  | 4,762,817 |  |

CREDITORS

Amounts falling due within one year | 8 | (1,109,185 | ) | (1,349,910 | ) |

NET CURRENT ASSETS | 3,755,891 |  | 3,412,907 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,833,202 |  | 3,495,531 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (500,000 | ) | (500,000 | ) |

PROVISIONS FOR LIABILITIES | (33,438 | ) | (16,161 | ) |

NET ASSETS | 3,299,764 |  | 2,979,370 |  |

CAPITAL AND RESERVES

Called up share capital | 90 |  | 90 |  |

Capital redemption reserve | 60 |  | 60 |  |

Retained earnings | 3,299,614 |  | 2,979,220 |  |

3,299,764 |  | 2,979,370 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

DAYSTATE LIMITED (REGISTERED NUMBER: 01395286)

STATEMENT OF FINANCIAL POSITION - continued

31 DECEMBER 2024

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 10 September 2025 and were signed on its behalf by:

R Flint - Director

DAYSTATE LIMITED (REGISTERED NUMBER: 01395286)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| DAYSTATE LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 01395286

| Registered office: | Unit 3

| Raleigh Hall Industrial Estate

| Eccleshall

| Staffordshire

| ST21 6JL

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.

| The financial statements are prepared in sterling, which is the functional currency of the entity.

| JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| (a) Critical accounting estimates and assumptions

| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

| (i) Useful economic lives of tangible assets

| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See the notes to the financial statements for the carrying amount of the assets and the accounting policy for the useful economic lives for each class of assets.

| (ii) Impairment of debtors

| The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See the notes to the financial statements for the net carrying amount of the debtors.

| REVENUE RECOGNITION

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

DAYSTATE LIMITED (REGISTERED NUMBER: 01395286)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| AMORTISATION

| Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Goodwill - 10 Years straight line

| Development costs - 3 Years straight line

| If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

| 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 | - | 20% reducing balance

| Fixtures and fittings | - | 20% reducing balance

| INVESTMENTS IN SUBSIDIARIES

| Investments in subsidiary undertakings are recognised at cost.

| STOCKS

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

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| FINANCIAL INSTRUMENTS

| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

| TAXATION

| Taxation for the year 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 statement of financial position date.

DAYSTATE LIMITED (REGISTERED NUMBER: 01395286)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| DEFERRED TAX

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| RESEARCH AND DEVELOPMENT

| Expenditure on research and development is written off in the period in which it is incurred.

| 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 year was 22 (2023 - 22 ) .

4. | INTANGIBLE FIXED ASSETS

| Patents |

| and |  | Development |

| licences |  | costs |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024

| and 31 December 2024 | 24,660 |  | 329,242 |  | 353,902 |  |

| AMORTISATION

| At 1 January 2024

| and 31 December 2024 | 24,660 |  | 329,242 |  | 353,902 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  | - |  | - |  |

| At 31 December 2023 | - |  | - |  | - |  |

DAYSTATE LIMITED (REGISTERED NUMBER: 01395286)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Long |  | Plant and |  | and |

| leasehold |  | machinery |  | fittings |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2024 | 10,241 |  | 23,923 |  | 210,726 |  | 244,890 |  |

| Additions | - |  | 10,147 |  | 3,866 |  | 14,013 |  |

| At 31 December 2024 | 10,241 |  | 34,070 |  | 214,592 |  | 258,903 |  |

| DEPRECIATION

| At 1 January 2024 | 10,241 |  | 17,360 |  | 134,666 |  | 162,267 |  |

| Charge for year | - |  | 3,341 |  | 15,985 |  | 19,326 |  |

| At 31 December 2024 | 10,241 |  | 20,701 |  | 150,651 |  | 181,593 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  | 13,369 |  | 63,941 |  | 77,310 |  |

| At 31 December 2023 | - |  | 6,563 |  | 76,060 |  | 82,623 |  |

6. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 1 |  |

| NET BOOK VALUE

| At 31 December 2024 | 1 |  |

| At 31 December 2023 | 1 |  |

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

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 1,228,300 |  | 1,277,003 |  |

| Provision For Doubtful Debts | (16,006 | ) | (16,438 | ) |

| Amounts owed by group undertakings | 385,765 |  | 1,050,309 |  |

| Other debtors | 515 |  | 940 |  |

| Directors' loan accounts | 5,905 |  | 5,164 |  |

| Prepayments | 33,131 |  | 50,553 |  |

1,637,610 |  | 2,367,531 |  |

DAYSTATE LIMITED (REGISTERED NUMBER: 01395286)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

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

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade creditors | 251,294 |  | 169,272 |  |

| Amounts owed to group undertakings | 527,033 |  | 905,756 |  |

| Tax | 147,444 |  | 86,101 |  |

| Social security and other taxes | 11,501 |  | 14,681 |  |

| VAT | 104,139 |  | 148,376 |  |

| Other creditors | - |  | 1,542 |  |

| Credit Card Receipts | 2,460 |  | 4,324 |  |

| Pension Liability | 2,960 |  | 3,207 |  |

| Accruals and deferred income | 62,354 |  | 16,651 |  |

1,109,185 |  | 1,349,910 |  |

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

| 31.12.24 |  | 31.12.23

£ | £ |

| Amounts owed to group undertakings | 500,000 |  | 500,000 |  |

10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

| 31.12.24 |  | 31.12.23

£ | £ |

| R Flint

| Balance outstanding at start of year | 5,163 |  | 3,715 |  |

| Amounts advanced | 742 |  | 1,754 |  |

| Amounts repaid | - |  | (306 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 5,905 |  | 5,163 |  |

11. | RELATED PARTY DISCLOSURES

| The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies as the group financial statements in which this subsidiary is included are publicly available.

12. | POST BALANCE SHEET EVENTS

| There were no material events up to the date of approval of the financial statements by the board.

13. | ULTIMATE CONTROLLING PARTY

| The controlling party is Diana Immobiliare SRL.