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REGISTERED NUMBER: 02074795 (England and Wales)

| Strategic Report, Report of the Director and |

| Financial Statements for the Year Ended 31 March 2025 |

| for |

| Shogun Limited |

| Shogun Limited (Registered number: 02074795) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 3 |

| Report of the Independent Auditors | 4 |

| Income Statement | 8 |

| Other Comprehensive Income | 9 |

| Balance Sheet | 10 |

| Statement of Changes in Equity | 11 |

| Notes to the Financial Statements | 12 |

| Shogun Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTOR: | M D Hartey

| SECRETARY: | Ovalseal Limited

| REGISTERED OFFICE: | 6-8 Old Hall Road

| Gatley

| Cheadle

| Cheshire

| SK8 4BE

| REGISTERED NUMBER: | 02074795 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Janine Boyo BFP FCA MAAT

| AUDITORS: | Voisey & Co LLP

| 8 Winmarleigh Street

| Warrington

| Cheshire

| WA1 1JW

| BANKERS: | Santander UK plc

| 298 Deansgate

| Manchester

| M3 4HH

| BANKERS: | National Westminster Bank plc

| 34 High Street

| Cheadle

| Cheshire

| SK8 1LQ

| Shogun Limited (Registered number: 02074795) |

Strategic Report

for the Year Ended 31 March 2025

The director presents his strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

The company continues to act as a holding company and has not traded in the year.

ON BEHALF OF THE BOARD:

M D Hartey - Director

28 November 2025

| Shogun Limited (Registered number: 02074795) |

Report of the Director

for the Year Ended 31 March 2025

The director presents his report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTOR

M D Hartey held office during the whole of the period from 1 April 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Voisey & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M D Hartey - Director

28 November 2025

Report of the Independent Auditors to the Members of

Shogun Limited

Opinion

We have audited the financial statements of Shogun Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 March 2025;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Shogun Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of director's remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Shogun Limited

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:As the company does not trade there were fewer audit procedures designed than if the company traded. The following procedures were undertaken:

1 - We obtained an understanding of laws, regulations and guidance that affect the Company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws, regulations and guidance that we identified included the Companies Act 2006.

2 - We enquired of management and those charged with governance to identify any instances of non-compliance with laws and regulations.

3 - We reviewed the Company's financial statement disclosures and agreed to supporting documentation to assess compliance with the applicable laws and regulations discussed above.

4 - We enquired of management and those charged with governance about actual and potential litigation and claims.

5 - We gained an understanding of the controls that management have in place to prevent and detect fraud. We enquired of management about any incidences of fraud that had taken place during the accounting period.

6 - The risk of fraud and non-compliance with laws and regulations was discussed within the audit team and tests were planned and performed to address these risks,

Despite appropriate planning and performing our work in accordance with International Auditing Standards, there are always inherent limitations that non-compliance is not detected. Non-compliance with laws and regulations is often further removed from the events and transactions reflected in the financial statements and material misstatements due to fraud can be deliberately concealed from auditors, for example through misrepresentation, forgery or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

Shogun Limited

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Janine Boyo BFP FCA MAAT (Senior Statutory Auditor)

for and on behalf of Voisey & Co LLP

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

28 November 2025

| Shogun Limited (Registered number: 02074795) |

Income Statement

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

TURNOVER | - |  | - |  |

OPERATING PROFIT and |

PROFIT BEFORE TAXATION | - |  | - |  |

Tax on profit | 4 | - |  | - |  |

PROFIT FOR THE FINANCIAL YEAR | - |  | - |  |

| Shogun Limited (Registered number: 02074795) |

Other Comprehensive Income

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | - |  | - |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | - |  | - |  |

| Shogun Limited (Registered number: 02074795) |

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 35,000 |  | 35,000 |  |

Investments | 6 | 250,000 |  | 250,000 |  |

285,000 |  | 285,000 |  |

CREDITORS

Amounts falling due within one year | 7 | 65,712 |  | 65,712 |  |

NET CURRENT LIABILITIES | (65,712 | ) | (65,712 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 219,288 |  | 219,288 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 2 |  | 2 |  |

Retained earnings | 9 | 219,286 |  | 219,286 |  |

SHAREHOLDERS' FUNDS | 219,288 |  | 219,288 |  |

The financial statements were approved by the director and authorised for issue on 28 November 2025 and were signed by:

M D Hartey - Director

| Shogun Limited (Registered number: 02074795) |

Statement of Changes in Equity

for the Year Ended 31 March 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2023 | 2 |  | 219,286 |  | 219,288 |  |

Changes in equity

Balance at 31 March 2024 | 2 |  | 219,286 |  | 219,288 |  |

Changes in equity

Balance at 31 March 2025 | 2 |  | 219,286 |  | 219,288 |  |

| Shogun Limited (Registered number: 02074795) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Shogun 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Monetary amounts in these financial statements shall be rounded to the nearest £.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 3.17(d);

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

| • | the requirement of paragraph 33.7.

| Preparation of consolidated financial statements

| The financial statements contain information about Shogun Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Ovalseal Limited, 6-8 Old Hall Road, Gatley, Cheadle, Cheshire SK8 4BE..

| Tangible fixed assets

| The tangible fixed asset is land and therefore no provision for depreciation has been made.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

3. | EMPLOYEES AND DIRECTORS

| There were no staff costs for the year ended 31 March 2025 nor for the year ended 31 March 2024.

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Director's remuneration | - |  | - |  |

| Shogun Limited (Registered number: 02074795) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | TAXATION

| Analysis of the tax charge

| No liability to UK corporation tax arose for the year ended 31 March 2025 nor for the year ended 31 March 2024.

5. | TANGIBLE FIXED ASSETS

| Land

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 35,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 35,000 |  |

| At 31 March 2024 | 35,000 |  |

6. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 250,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 250,000 |  |

| At 31 March 2024 | 250,000 |  |

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Coed Du Hall Limited

| Registered office: 6-8 Old Hall Road, Gatley, Cheadle, SK8 4BE

| Nature of business: Healthcare

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.3.25 |  | 31.3.24

£ | £ |

| Aggregate capital and reserves | 13,860,683 |  | 12,353,666 |  |

| Profit for the year | 1,507,017 |  | 903,609 |  |

| Shogun Limited (Registered number: 02074795) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Amounts owed to group undertakings | 61,267 |  | 61,267 |  |

| Other creditors | 4,445 |  | 4,445 |  |

65,712 |  | 65,712 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 2 | Ordinary | £1 | 2 |  | 2 |  |

9. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2024 | 219,286 |  |

| Profit for the year | - |

| At 31 March 2025 | 219,286 |  |

10. | ULTIMATE PARENT COMPANY

| The ultimate parent company during the year under review was Ovalseal Limited, a company registered in England and Wales, which is 100% owned by Mr M D Hartey. The consolidated accounts of Ovalseal Limited can be obtained from their registered office which is 6-8 Old Hall Road, Gatley, Cheadle, Cheshire SK8 4BE.

11. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is M D Hartey.