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REGISTERED NUMBER: 11356462 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SHARKFIRE LTD

| SHARKFIRE LTD (REGISTERED NUMBER: 11356462) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| SHARKFIRE LTD |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTORS: | F Yeganeh

| P Stewart

| T Schwerdtfeger

| REGISTERED OFFICE: | The Queens Hotel Clarence Parade

| Osborne Road

| Portsmouth

| Hampshire

| PO5 3LJ

| REGISTERED NUMBER: | 11356462 (England and Wales)

| AUDITORS: | Lewis Brownlee (Chichester) Limited

| Statutory Auditors

| Appledram Barns

| Birdham Road

| Chichester

| West Sussex

| PO20 7EQ

| SHARKFIRE LTD (REGISTERED NUMBER: 11356462) |

BALANCE SHEET

31 MARCH 2025

2025 | 2024 |

| Notes | £ | £

CURRENT ASSETS

Stocks | 3,257,500 |  | 3,257,500 |  |

Cash at bank | 128 |  | 151 |  |

3,257,628 |  | 3,257,651 |  |

CREDITORS

Amounts falling due within one year | 4 | 3,266,402 |  | 3,264,750 |  |

NET CURRENT LIABILITIES | (8,774 | ) | (7,099 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (8,774 | ) | (7,099 | ) |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | (8,775 | ) | (7,100 | ) |

(8,774 | ) | (7,099 | ) |

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 Board of Directors and authorised for issue on 9 October 2025 and were signed on its behalf by:

F Yeganeh - Director

| SHARKFIRE LTD (REGISTERED NUMBER: 11356462) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| Sharkfire Ltd 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.

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 company. Monetary amounts in these financial statements are rounded to the nearest £.

| Going concern

| The financial statements have been prepared on a going concern basis.

| The company is reliant on the continued support of the group's directors, investors and bankers and fellow group companies to continue trading. The directors are of the opinion that the company can continue to trade with their ongoing support and therefore the going concern basis remains applicable for at least 12 months following the date of approval of the financial statements.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Stocks

| Work in progress is valued at the lower of cost and net realisable value.

| 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.

| At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

| Financial instruments

| Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

| 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 balance sheet date.

| SHARKFIRE LTD (REGISTERED NUMBER: 11356462) |

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 balance sheet 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.

| 104 Limited, the parent company, has undertaken to settle the deferred tax liability of £198,800 on the chargeable gain that would arise if property held in stocks were to be sold at its carrying value. The chargeable gain is a result of the property being acquired in a business combination where the cost allowable for tax purposes is lower than the carrying value recognised in these financial statements. 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.

3. | EMPLOYEES AND DIRECTORS

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

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

2025 | 2024 |

| £ | £

| Trade creditors | 342 |  | - |  |

| Amounts owed to group undertakings | 3,264,810 |  | 3,264,750 |  |

| Other creditors | 1,250 |  | - |  |

3,266,402 |  | 3,264,750 |  |

5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Sam Ede BFP FCA FCCA (Senior Statutory Auditor)

| for and on behalf of Lewis Brownlee (Chichester) Limited

6. | PARENT COMPANY

| The immediate and ultimate parent undertaking is 104 Limited, a company incorporated in England and Wales.

| The company’s results are included in the consolidated accounts of 104 Limited. The registered office of 104 Limited is The Queens Hotel, Clarence Parade, Southsea, Hampshire, P05 3LJ, from which copies of the accounts can be obtained.