These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

Comet International Holding Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor 25 Farringdon Street, London, EC4A 4AB.

The financial statements for the comparative period were for a period not equal to one year. Instead the comparative reporting period covered a six month period from 1 June 2023 to 31 December 2023. As a result the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in Euros, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest €.

At the year end date, the exchange rate was 1.2097 Euros per British Pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is applying section 405 of the Companies Act 2006 and is exempt from the requirement to prepare group accounts under the basis that its investment in its subsidiary is held exclusively with a view to subsequent resale.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. true

The basis of this is that the company has a strong cash base, and minimal forecasted fixed cash outflows. Whilst the company is not expecting to generate a short-term return on the investment in its subsidiary group, there is an expectation that this will generate a significant cash amount on sale. This is backed up by the significant valuation gain reported in the year. As such, the company has sufficient cash reserves to meet liabilities as they fall due.

Therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Management income is recognised at the fair value of the consideration received or receivable for management services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at fair value through the profit and loss. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

The company is applying section 405 of the Companies Act 2006 and is exempt from the requirement to prepare group accounts under the basis that its investment in its subsidiary is held exclusively with a view to subsequent resale.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. Amounts 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.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The investment has not been treated as a subsidiary in the financial statements as it is held as part of an investment portfolio, the company does not deem to exercise control over the entity and the investment is held exclusively with a view of resale in the future.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Investments are initially measured at cost (including transaction costs) and are subsequently measured at fair value. The valuation of the investments held as at 31 December 2024 was carried out by third party professional advisors. Calculation of the valuation involves forecast of the business's future performance.

The average monthly number of persons (including directors) employed by the company during the year was:

The company has an investment in the Comac Medical EOOD group of companies.

The investment revaluation was carried out in June 2025 by external third party professional advisors in relation to the value of the investments held as at 31 December 2024.

Details of the company's subsidiaries at 31 December 2024 are as follows:

The main activity of all company subsidiaries is clinical research and development.

On 22 April 2025 the company incorporated a new subsidiary called Comac Medical Group Ltd (United Kingdom) which holds a 100% shareholding in ILIFE CONSULTING Sarl.

As detailed in accounting policy 1.5, the company is applying section 405 of the Companies Act 2006 and is exempt from the requirement to prepare group accounts under the basis that its investment in its subsidiary is held exclusively with a view to subsequent resale.

On 30 May 2024, 1,000,000,000 ordinary shares of €0.01 were issued at par.

On 9 December 2024, 570,000,000 ordinary shares of €0.01 were issued at par.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

On 26 March 2025, the Company entered into loan agreements with two relates parties for a total of €10 million, carrying an interest rate of 10% per annum and repayable on 31 December 2026.

On 28 April 2025, 42,903,225 ordinary shares with a nominal value of €0.01 each were issued at par.

On 2 May 2025, 1,650,000,000 ordinary shares with a nominal value of €0.01 each were issued at par.

On 2 May 2025, the Company completed the acquisition of ILIFE CONSULTING Sarl through its newly established subsidiary, Comac Medical Holding Limited, for a total consideration of €16 million, settled through a combination of cash and newly issued shares.

During the period, the Company received management fee income of €420,000 (2023: €NIL) from Comac Medical EOOD.

At the year end, the company owed €991 (2023: €NIL) to EdgeCap Partners OÜ.

During the year, the Company made a payment to minority shareholders in settlement of obligations under the Share Purchase Agreement. As at 31 December 2024, no further obligations remain to minority shareholders under the agreement.

The controlling fund is EdgeCap Partners I Usaldusfond.

The ultimate controlling party is Kristjan Piilmann.