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REGISTERED NUMBER: 11640336 (England and Wales)

| STEEPLE HOLDINGS LIMITED |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

STEEPLE HOLDINGS LIMITED (REGISTERED NUMBER: 11640336)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

| Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |  | to |  | 5

STEEPLE HOLDINGS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTOR: | J C Langham

| REGISTERED OFFICE: | C/o Langham Industries Limited

| Bingham's Melcombe

| Dorchester

| Dorset

| DT2 7PZ

| REGISTERED NUMBER: | 11640336 (England and Wales)

| ACCOUNTANTS: | Duncan & Toplis Limited

| 3 Castlegate

| Grantham

| Lincolnshire

| NG31 6SF

STEEPLE HOLDINGS LIMITED (REGISTERED NUMBER: 11640336)

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 3,146,163 |  | 1,887,663 |  |

CURRENT ASSETS

Debtors | 5 | 24,733 |  | 13,657 |  |

Cash at bank | 5,566,995 |  | 2,980,769 |  |

5,591,728 |  | 2,994,426 |  |

CREDITORS

Amounts falling due within one year | 6 | 54,158 |  | 29,714 |  |

NET CURRENT ASSETS | 5,537,570 |  | 2,964,712 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 8,683,733 |  | 4,852,375 |  |

PROVISIONS FOR LIABILITIES | 7 | 77,801 |  | 33,957 |  |

NET ASSETS | 8,605,932 |  | 4,818,418 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 100 |  | 100 |  |

Fair value reserve | 9 | 233,403 |  | - |  |

Retained earnings | 8,372,429 |  | 4,818,318 |  |

SHAREHOLDERS' FUNDS | 8,605,932 |  | 4,818,418 |  |

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 director acknowledges his 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 director and authorised for issue on 11 September 2025 and were signed by:

J C Langham - Director

STEEPLE HOLDINGS LIMITED (REGISTERED NUMBER: 11640336)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Steeple Holdings Limited is a private company, limited by shares , registered in England and Wales. 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 (£).

| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

| Investments in subsidiaries

| Investments in participating interests are recognised at cost less any provision for impairment. Entities are not consolidated where the company does not have control.

| Financial instruments

| The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

| Such assets are subsequently carried at fair value and the changes in fair value are recognised in the income statement, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

| Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

STEEPLE HOLDINGS LIMITED (REGISTERED NUMBER: 11640336)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| 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 statement of financial position date.

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Dividends received

| Dividend income is recognised as the company’s right to receive payment is established.

| Valuation of pooled investment funds

| Pooled investment funds are stated at market value, taken as the single fund price advised by the investment manager at the accounting date.

| Investment management expenses

| Investment management expenses are accounted for on an accruals basis in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2023 - 1 ) .

4. | FIXED ASSET INVESTMENTS

| Shares in |

| participating |  | Other |

| interest |  | investments |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 January 2024 | 286,984 |  | 1,600,679 |  | 1,887,663 |  |

| Additions | - |  | 1,458,165 |  | 1,458,165 |  |

| Disposals | - |  | (416,188 | ) | (416,188 | ) |

| Revaluations | - |  | 216,523 |  | 216,523 |  |

| At 31 December 2024 | 286,984 |  | 2,859,179 |  | 3,146,163 |  |

| NET BOOK VALUE

| At 31 December 2024 | 286,984 |  | 2,859,179 |  | 3,146,163 |  |

| At 31 December 2023 | 286,984 |  | 1,600,679 |  | 1,887,663 |  |

| Investments in participating interests are recognised at cost less any provision for impairment.

| Other investments comprise pooled investment funds held with investment managers. The market value of these investments at the year end was £2,859,179 (2023: £1,600,679) and the historic cost was £2,547,975 (2023: £1,493,284).

STEEPLE HOLDINGS LIMITED (REGISTERED NUMBER: 11640336)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

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

2024 | 2023 |

£ | £ |

| Prepayments and accrued income | 24,733 |  | 13,657 |  |

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

2024 | 2023 |

£ | £ |

| Corporation tax | 53,177 |  | 28,733 |  |

| Directors' loan accounts | 981 |  | 981 |  |

54,158 |  | 29,714 |  |

7. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

£ | £ |

| Deferred tax

| Unrealised gains - investments | 77,801 |  | 33,957 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 33,957 |  |

| Charge to Income Statement during year | 43,844 |  |

| Balance at 31 December 2024 | 77,801 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

|  | 2024 |  | 2023

| Number: |  | Class: |  | Nominal value |  | £ |  | £

| 10 |  | A Ordinary |  | £1 |  | 10 |  | 10 |

| 45 |  | B Ordinary |  | £1 |  | 45 |  | 45 |

| 45 |  | C Ordinary |  | £1 |  | 45 |  | 45 |

|  | 100 |  | 100 |

9. | RESERVES

| The aggregate surplus on revaluation of investments, net of deferred tax, is transferred to a separate non-distributable fair value reserve in order to assist with the identification of profits available for distribution.

10. | RELATED PARTY DISCLOSURES

| During the year, the company received dividends totalling £3,440,040 (2023: £nil) from a company in which Steeple Holdings Limited has a participating interest.

| At the financial reporting date, the amount owed to companies in which Steeple Holdings Limited has a participating interest was £nil (2023: £nil) and the amount owed to directors was £nil (2023: £981). The amount is unsecured and repayable on demand in the absence of formal terms and conditions.