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REGISTERED NUMBER: 04183625 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Locustworld Limited

Locustworld Limited (Registered number: 04183625)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Chartered Accountants' Report | 2 |

Statement of Financial Position | 3 |

Notes to the Financial Statements | 5 |

Locustworld Limited

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | R Lander

| J Hudson

| REGISTERED OFFICE: | Second Floor

| Curzon House

| 24 High Street

| Banstead

| Surrey

| SM7 2LJ

| REGISTERED NUMBER: | 04183625 (England and Wales)

| ACCOUNTANTS: | Ascendant Partners Limited

| Second Floor

| Curzon House

| 24 High Street

| Banstead

| Surrey

| SM7 2LJ

Chartered Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

Locustworld Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Locustworld Limited for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Locustworld Limited, as a body, in accordance with the terms of our engagement letter dated 22 August 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Locustworld Limited and state those matters that we have agreed to state to the Board of Directors of Locustworld Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Locustworld Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Locustworld Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Locustworld Limited. You consider that Locustworld Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Locustworld Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ascendant Partners Limited

Second Floor

Curzon House

24 High Street

Banstead

Surrey

SM7 2LJ

10 September 2025

Locustworld Limited (Registered number: 04183625)

Statement of Financial Position

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Property, plant and equipment | 4 | 656 |  | 1,631 |  |

656 |  | 1,631 |  |

CURRENT ASSETS

Inventories | 5,400 |  | 1,250 |  |

Debtors | 5 | 3,373 |  | - |  |

Cash at bank and in hand | 131,566 |  | 172,106 |  |

140,339 |  | 173,356 |  |

CREDITORS

Amounts falling due within one year | 6 | 22,613 |  | 36,201 |  |

NET CURRENT ASSETS | 117,726 |  | 137,155 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 118,382 |  | 138,786 |  |

PROVISIONS FOR LIABILITIES | 7 | 125 |  | 310 |  |

NET ASSETS | 118,257 |  | 138,476 |  |

CAPITAL AND RESERVES

Called up share capital | 730 |  | 730 |  |

Share premium | 99,945 |  | 99,945 |  |

Retained earnings | 17,582 |  | 37,801 |  |

SHAREHOLDERS' FUNDS | 118,257 |  | 138,476 |  |

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

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

Locustworld Limited (Registered number: 04183625)

Statement of Financial Position - continued

31 March 2025

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 Comprehensive Income 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 Lander - Director

Locustworld Limited (Registered number: 04183625)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Locustworld 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 (£).

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.

| Going concern

| The preparation of the financial statements requires the directors to make an assessment of the entity's ability to continue as a going concern. The directors have reviewed the position and have concluded that it remains appropriate to prepare these financial statements on a going concern basis.

| Revenue

| Revenue represents the sale of goods and provision of services, excluding value added tax. The sale of goods is recognised on the date of despatch and the sale of services is recognised in the period to which they relate.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Fixtures and fittings | - | 25% per annum on reducing balance

| Computer equipment | - | 25% per annum on cost

| Stocks

| Inventories 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 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.

Locustworld Limited (Registered number: 04183625)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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 year in which it is incurred.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 4 ) .

4. | PROPERTY, PLANT AND EQUIPMENT

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024

| and 31 March 2025 | 1,450 |  | 3,262 |  | 4,712 |  |

| DEPRECIATION

| At 1 April 2024 | 804 |  | 2,277 |  | 3,081 |  |

| Charge for year | 162 |  | 813 |  | 975 |  |

| At 31 March 2025 | 966 |  | 3,090 |  | 4,056 |  |

| NET BOOK VALUE

| At 31 March 2025 | 484 |  | 172 |  | 656 |  |

| At 31 March 2024 | 646 |  | 985 |  | 1,631 |  |

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

2025 | 2024 |

£ | £ |

| Corporation tax | 2,971 |  | - |  |

| Prepayments | 402 |  | - |  |

3,373 |  | - |  |

Locustworld Limited (Registered number: 04183625)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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

2025 | 2024 |

£ | £ |

| Trade creditors | 1,881 |  | 2,878 |  |

| Amounts owed to group undertakings | 11,694 |  | 11,784 |  |

| Corporation tax | 150 |  | 976 |  |

| Social security and other taxes | 4,715 |  | 6,229 |  |

| Other creditors | - |  | 4,993 |  |

| Directors' current accounts | 2,130 |  | 3,791 |  |

| Accrued expenses | 2,043 |  | 5,550 |  |

22,613 |  | 36,201 |  |

7. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 125 |  | 310 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 310 |  |

| Credit to Income Statement during year | (185 | ) |

| Balance at 31 March 2025 | 125 |  |

8. | RELATED PARTY DISCLOSURES

| Locustworld Holdings Limited owns both Locustworld Limited and Locustworld Bissau SARL. During the year under review the company paid licence fees of £33,100 (2024: £50,900) and made sales of £30,900 (2024: £48,900) to Locustworld Holdings Limited.

| At the balance sheet date, the amounts outstanding were as follows:

|  | 2025 |  | 2024 |

|  | Due from |  | Due to |  | Due from |  | Due to |

|  | £ |  | £ |  | £ |  | £ |

| Locustworld Bissau, SARL |  | - |  |  | 10,380 |  |  | - |  |  | 10,380 |

| Locustworld Holdings Limited |  | - |  |  | 1,314 |  |  | - |  |  | 1,404 |

|  | - |  |  | 11,694 |  |  | - |  |  | 11,784 |

Locustworld Limited (Registered number: 04183625)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

9. | ULTIMATE CONTROLLING PARTY

| The company is a wholly-owned subsidiary of Locustworld Holdings Limited, which is controlled by R Lander and J Hudson. Locustworld Holdings Limited registered office address is Second Floor, Curzon House, 24 High St, Banstead SM7 2LJ.