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REGISTERED NUMBER: 09506526 (England and Wales)

| Financial Statements |

| for the Year Ended 31 December 2024 |

| for |

| Dankro Ltd |

Dankro Ltd (Registered number: 09506526)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

Dankro Ltd

Company Information

for the Year Ended 31 December 2024

| DIRECTOR: | K Daneels

| SECRETARY: | MYUKOFFICE LIMITED

| REGISTERED OFFICE: | Westwood House

| Annie Med Lane

| South Cave

| Brough

| HU15 2HG

| REGISTERED NUMBER: | 09506526 (England and Wales)

| AUDITORS: | Try Lunn & Co

| Chartered Accountants

| and Statutory Auditors

| Roland House

| Princes Dock Street

| HULL HU1 2LD

Dankro Ltd (Registered number: 09506526)

Balance Sheet

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 5 | 17,467 |  | 17,467 |  |

CURRENT ASSETS

Debtors | 6 | 86,880 |  | 90,984 |  |

Cash at bank and in hand | 464 |  | 289 |  |

87,344 |  | 91,273 |  |

CREDITORS

Amounts falling due within one year | 7 | 617,512 |  | 625,213 |  |

NET CURRENT LIABILITIES | (530,168 | ) | (533,940 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (512,701 | ) | (516,473 | ) |

CAPITAL AND RESERVES

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

Retained earnings | 9 | (512,801 | ) | (516,573 | ) |

SHAREHOLDERS' FUNDS | (512,701 | ) | (516,473 | ) |

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 25 September 2025 and were signed by:

K Daneels - Director

Dankro Ltd (Registered number: 09506526)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Dankro 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.

| Dankro Ltd ("the Company") is a holding company for a small group of trading companies; Z-Card Ltd (UK trading company), Z-Card SAS (French trading company) and Z Media (Belgian trading company). The Company is owned by a Belgian group named Daneels. The Company sits in the middle of the Daneels group and the Z-Card group. The Company provide management services to each of the Z-Card trading companies. These services are ultimately provided by the Daneels group who, along with other third party consultants invoice Dankro Ltd for their time and resources expensed on the Z-Card activities. To date, the Z-Card group have cumulative trading losses which has meant that the Company has not been able to recover the costs which it has incurred. At the balance sheet date, Dankro has trading losses of £514,000.

| Due to circumstances, including as a result of the coronavirus pandemic, and in order to reduce costs of the Z-Card trading companies the Directors of the Daneels Group made strategic changes. For example at the end of 2020 there was a substantial reduction in the UK company's work force, the lease of the London office where it had previously operated from was discontinued and Daneels group staff began to oversee the day to day running of the UK company. Since the beginning of 2021 the Z-Card group has operated on a much smaller scale.

| Z-Card Ltd, the longest established trading company, had cumulative losses of £2.6 million at 31 December 2024. The Z-Card group is reliant on operational and financial support of the Daneels group in order to continue as a going concern. The Daneels group have agreed to continue to provide its operational and financial support to the Z-Card group. The Z-Card group is also reliant on the support of bankers, KBC, who provide factoring facilities.

| Ultimately all of the companies in the Dankro group are receiving the support of the Daneels group to trade as a going concern.

| After reporting losses in previous years, the consolidated results of the Daneels Group showed profit of EUR 31,300 in the year ended 31 March 2022 and profits of EUR 142,000 in the year ended 31 March 2023. Consolidated results were not prepared for the year ended 31 March 2024. The financial information available for the periods which fall before and after that year indicates that a group loss of EUR 148,000 was made in the 12 month period ended 31 March 2024. Draft consolidated results for the period ended 30 June 2025, prepared for internal reporting purposes, show a group profit of EUR 747,000 was made in the 15 month period ended 30 June 2025. The Directors of the Daneels Group expect the Group results to remain stable over the next year. The Director of Z-Card Limited is confident that he can rely on the support from the Daneels Group, however detailed financial forecasts of the Daneels group have not been prepared.

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

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

Dankro Ltd (Registered number: 09506526)

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 balance sheet date.

| Deferred tax

| Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

3. | EMPLOYEES AND DIRECTORS

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

4. | AUDITORS' REMUNERATION

| 2024 |  | 2023

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 1,575 |  | 1,470 |  |

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 17,467 |  |

| NET BOOK VALUE

| At 31 December 2024 | 17,467 |  |

| At 31 December 2023 | 17,467 |  |

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

2024 | 2023 |

£ | £ |

| Amounts owed by group undertakings | 86,834 |  | 90,941 |  |

| Other debtors | 46 |  | 43 |  |

86,880 |  | 90,984 |  |

Dankro Ltd (Registered number: 09506526)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

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

2024 | 2023 |

£ | £ |

| Trade creditors | 31,999 |  | 34,186 |  |

| Amounts owed to group undertakings | 302,677 |  | 308,391 |  |

| Other creditors | 282,836 |  | 282,636 |  |

617,512 |  | 625,213 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 100 | Ordinary | 100 | 100 |  | 100 |  |

9. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2024 | (516,573 | ) |

| Profit for the year | 3,772 |  |

| At 31 December 2024 | (512,801 | ) |

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

| The Report of the Auditors was unqualified.

| Andrew Ewart FCA FCCA (Senior Statutory Auditor)

| for and on behalf of Try Lunn & Co

Dankro Ltd (Registered number: 09506526)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

11. | RELATED PARTY DISCLOSURES

| In a prior year, the company received a loan from Holding Daneels NV, a company owning 65 percent of the share capital in the company. At the balance sheet date an amount of £270,768 (2023: £280,467) was owed to Holding Daneels NV. This loan is interest free.

| In prior years, the company received management services under normal commercial terms from De Kroon Direct Marketing BVBA, a company owned by Luc De Kroon, who owns 35 percent of the share capital in the company. At the balance sheet date £31,999 (2023: £35,243) remained outstanding in respect of these services.

| In prior years, the company provided management services under normal commercial terms to Z-Card SAS, a company registered in France under the control of the company. At the balance sheet date an amount of £65,940 (2023: £68,947) was owed from Z-Card SAS in respect of these services.

| In a prior year, the company made a loan to Z-Card Ltd, a subsidiary company. At the balance sheet date an amount of £18,094 (2023: £18,994) was owed to Dankro Ltd. This loan is interest free.

| In a prior year, the company made a loan to Daneels UK Ltd, a sister company. At the balance sheet date an amount of £3,000 (2023: £3,000) was owed to Dankro Ltd. This loan is interest free.

| In a prior year, the company received a loan from Z-Media Global, a subsidiary company. At the balance sheet date £25,024 (2023: £25,024) was owed by Dankro Ltd. This loan is interest free.

| In a prior year, the company received a loan from Drukkerij Daneels BVBA, a sister company. At the balance sheet date £6,885 (2023: £2,900) was owed to Drukkerij Daneels BVBA. This loan is interest free.

12. | CONTROLLING PARTY

| The immediate controlling party is Holding Daneels NV

| The ultimate controlling parting is Mr Jozef Daneels.