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COMPANY REGISTRATION NUMBER: 13536747

STRIDE PIV LTD

Unaudited Financial Statements

31 March 2025

STRIDE PIV LTD

Financial Statements

Year ended 31 March 2025

Contents | Page

Directors' report | 1

Statement of comprehensive income | 2

Statement of financial position | 3

Statement of changes in equity | 4

Statement of cash flows | 5

Notes to the financial statements | 6

STRIDE PIV LTD

Directors' Report

Year ended 31 March 2025
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2025 .
Principal activities
The principal activity of the company during the year was activities of open-ended investments.
Directors
The directors who served the company during the year were as follows:

Mr Dale Callum Peter Nursten |
Ms Diane Kim Nursten |
Ms Sally Nursten |
Mr Scott Malcolm Erwin Nursten |

Dividends
The directors do not recommend the payment of a dividend.
This report was approved by the board of directors on 12 September 2025 and signed on behalf of the board by:

Mr Dale Callum Peter Nursten
Director

Registered office:
B1 Vantage Park
Old Gloucester Road
Hambrook
Bristol
BS161GW

STRIDE PIV LTD

Statement of Comprehensive Income

Year ended 31 March 2025

| 2025 | 2024
Note | £ | £
Turnover | 4 | 448,527 | 195,392

Cost of sales | 443,332 | 269,672
| --------- | ---------
Gross profit/(loss) | 5,195 | ( 74,280)

Administrative expenses | 28,602 | 34,805
Other operating income | 5 | 45,000 | –
|  | -------- | ---------
Operating profit/(loss) | 6 | 21,593 | ( 109,085)

Income from other fixed asset investments | 7 | 96,010 | 60,844
Other interest receivable and similar income | 8 | 5,439 | 81
Interest payable and similar expenses | 9 | 213 | 6,431
| --------- | ---------
Profit/(loss) before taxation | 122,829 | ( 54,591)

Tax on profit/(loss) | 10 | 9,747 | ( 19,205)
| --------- | --------
Profit/(loss) after taxation | 113,082 | ( 35,386)

Other taxes not shown under the above | 3,922 | 4,497
| --------- | --------
Profit/(loss) for the financial year | 109,160 | ( 39,883)
| --------- | --------

Fair Value Adjustments | 45,931 | 166,334
| --------- | ---------
Total comprehensive income for the year | 155,091 | 126,451
| --------- | ---------

All the activities of the company are from continuing operations.

STRIDE PIV LTD

Statement of Financial Position

31 March 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Investments | 11 | 946,812 | 975,303

Current assets

Cash at bank and in hand | 282,656 | 91,524

Creditors: amounts falling due within one year | 12 | 1,038,804 | 1,031,254
| ------------ | ------------
Net current liabilities | 756,148 | 939,730
| --------- | ---------
Total assets less current liabilities | 190,664 | 35,573
| --------- | --------

Capital and reserves

Called up share capital | 13 | 4 | 4
Revaluation reserve | 14 | 81,535 | 35,604
Profit and loss account | 14 | 109,125 | ( 35)
| --------- | --------
Shareholders funds | 190,664 | 35,573
| --------- | --------

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of directors and authorised for issue on 12 September 2025 , and are signed on behalf of the board by:

Mr Dale Callum Peter Nursten
Director

Company registration number: 13536747

STRIDE PIV LTD

Statement of Changes in Equity

Year ended 31 March 2025

| Called up share capital | Revaluation reserve | Profit and loss account | Total
| £ | £ | £ | £
At 1 April 2023 | 4 | ( 130,730) | 39,848 | ( 90,878)
Loss for the year |  |  | ( 39,883) | ( 39,883)
Other comprehensive income for the year: |  |  |  |
| Fair Value Adjustments | – | 166,334 | – | 166,334
| ---- | --------- | -------- | ---------
Total comprehensive income for the year | – | 166,334 | ( 39,883) | 126,451
At 31 March 2024 | 4 | 35,604 | ( 35) | 35,573
Profit for the year |  |  | 109,160 | 109,160
Other comprehensive income for the year: |  |  |  |
| Fair Value Adjustments | – | 45,931 | – | 45,931
| ---- | --------- | --------- | ---------
Total comprehensive income for the year | – | 45,931 | 109,160 | 155,091
| ---- | --------- | --------- | ---------
At 31 March 2025 | 4 | 81,535 | 109,125 | 190,664
| ---- | --------- | --------- | ---------

STRIDE PIV LTD

Statement of Cash Flows

Year ended 31 March 2025

| 2025 | 2024
| £ | £

Cash flows from operating activities

Profit/(loss) for the financial year | 109,160 | ( 39,883)

Adjustments for: |  |
Income from other fixed asset investments | ( 96,010) | ( 60,844)
Other interest receivable and similar income | ( 5,439) | ( 81)
Interest payable and similar expenses | 213 | 6,431
Tax on profit/(loss) | 9,747 | (19,205)

Changes in: |  |
Trade and other debtors | – | 6,517
Trade and other creditors | 98 | 30
| --------- | ---------
Cash generated from operations | 17,769 | ( 107,035)

Interest paid | ( 213) | ( 6,431)
Interest received | 5,439 | 81
Tax received | – | 19,205
| -------- | ---------
Net cash from/(used in) operating activities | 22,995 | ( 94,180)
| -------- | ---------

Cash flows from investing activities

Purchases of other investments | (368,910) | (271,312)
Proceeds from sale of other investments | 443,332 | 269,726
Proceeds from sale of futures contracts, forward contracts, option contracts and swap contracts | 24,115 | 14,354
Dividends received | 71,895 | 46,490
| --------- | ---------
Net cash from investing activities | 170,432 | 59,258
| --------- | ---------

Cash flows from financing activities

Proceeds from borrowings | – | ( 254,999)
Proceeds from loans from group undertakings | ( 2,295) | 452,233
| --------- | ---------
Net cash (used in)/from financing activities | ( 2,295) | 197,234
| --------- | ---------

Net increase in cash and cash equivalents | 191,132 | 162,312
Cash and cash equivalents at beginning of year | 91,524 | (70,788)
| --------- | --------
Cash and cash equivalents at end of year | 282,656 | 91,524
| --------- | --------

STRIDE PIV LTD

Notes to the Financial Statements

Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is B1 Vantage Park, Old Gloucester Road, Hambrook, Bristol, BS161GW.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Turnover
Turnover arises from:

| 2025 | 2024
| £ | £
Sale of goods | 448,527 | 195,392
| --------- | ---------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Other operating income

| 2025 | 2024
| £ | £
Other operating income | 45,000 | –
| -------- | ----

6. Operating profit/(loss)
Operating profit or loss is stated after charging:

| 2025 | 2024
| £ | £
Foreign exchange differences | 5,215 | 1,227
| ------- | -------

7. Income from other fixed asset investments

| 2025 | 2024
| £ | £
Dividends from other fixed asset investments | 71,895 | 46,490
Other income from other fixed asset investments | 24,115 | 14,354
| -------- | --------
| 96,010 | 60,844
| -------- | --------

8. Other interest receivable and similar income

| 2025 | 2024
| £ | £
Interest receivable | 5,439 | 81
| ------- | ----

9. Interest payable and similar expenses

| 2025 | 2024
| £ | £
Other interest payable and similar charges | 213 | 6,431
| ---- | -------

10. Tax on profit/(loss)
Major components of tax expense/(income)

| 2025 | 2024
| £ | £

Current tax:

UK current tax expense/(income) | 9,747 | ( 19,205)
| ------- | --------
Tax on profit/(loss) | 9,747 | ( 19,205)
| ------- | --------

Reconciliation of tax expense/(income)
The tax assessed on the profit/(loss) on ordinary activities for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 19 %).

| 2025 | 2024
| £ | £
Profit/(loss) on ordinary activities before taxation | 122,829 | ( 54,591)
| --------- | --------
Profit/(loss) on ordinary activities by rate of tax | 30,707 | ( 10,372)
Other tax adjustment to increase/(decrease) tax liability | (20,960) | (8,833)
| --------- | --------
Tax on profit/(loss) | 9,747 | ( 19,205)
| --------- | --------

11. Investments

| Other investments other than loans
| £
Cost |
At 1 April 2024 | 939,699
Additions | 368,910
Disposals | ( 443,332)
| ---------
At 31 March 2025 | 865,277
| ---------
Impairment |
At 1 April 2024 | ( 35,604)
Revaluations | ( 45,931)
| ---------
At 31 March 2025 | ( 81,535)
| ---------

Carrying amount |
At 31 March 2025 | 946,812
| ---------
At 31 March 2024 | 975,303
| ---------

12. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 128 | 30
Amounts owed to group undertakings | 1,028,929 | 1,031,224
Corporation tax | 9,747 | –
| ------------ | ------------
| 1,038,804 | 1,031,254
| ------------ | ------------

13. Called up share capital
Authorised share capital

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 4 | 4 | 4 | 4
| ---- | ---- | ---- | ----

Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 4 | 4 | 4 | 4
| ---- | ---- | ---- | ----

14. Reserves
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.
15. Analysis of changes in net debt

| At 1 Apr 2024 | Cash flows | At 31 Mar 2025
| £ | £ | £
Cash at bank and in hand | 91,524 | 191,132 | 282,656
Debt due within one year | (1,031,224) | 2,295 | (1,028,929)
| ------------ | --------- | ------------
| ( 939,700) | 193,427 | ( 746,273)
| ------------ | --------- | ------------