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 profit and loss account within the financial statements.true

Cycle Ø Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 84 Eccleston Square, London, United Kingdom, SW1V 1PX.

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 €.

The comparative financial statements filed at Companies House were prepared in sterling. The directors believe the functional and presentational currency of the company should be euros based on the nature of transactions of the company and its wider group companies. Therefore, the comparative disclosures will not be entirely comparable.

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

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Cycle Ø Holdings Limited is a wholly owned subsidiary of Cycle Ø Aggregatorco Limited. Please refer to the ultimate controlling party note for further details of the registered office address of Cycle Ø Aggregatorco Limited and details regarding Cycle Ø Aggregatorco Limited's consolidated financial statements.

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

Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. 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.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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 balance sheet 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 are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest.

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 are 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.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

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 following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The recoverable amount of investments is based on future cash flows for the individual investments. In determining whether any impairment is required, management makes a number of estimates in respect of future cash flows and future earnings growth. The carrying value of investments at the reporting date was €60,392,749 (2023: €25,792,749). Following their assessment and review, the directors have determined no impairment is necessary.

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

Details of the company's subsidiaries at 29 December 2024 are as follows:

The Ordinary A and B shares carry full voting, dividend and capital distribution rights, including on winding up. These shares do not confer any rights of redemption.

The Ordinary C shares do not carry rights to vote or attend meetings.

On 7 February 2024 9,000,000 Ordinary A shares with a par value of €0.10 per share were issued with a premium of €0.90.

On 7 February 2024 40 Ordinary C shares with a par value of €0.10 per share were issued with a premium of €194.90.

On 16 May 2024 10 Ordinary C shares with a par value of €0.10 per share were issued with a premium of €194.90.

On 10 October 2024 25,000,000 Ordinary A shares with a par value of €0.10 per share were issued with a premium of €0.90.

On 10 October 2024 600,000 Ordinary B shares with a par value of €0.10 per share were issued at premium of €0.90.

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:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 29 December 2024 and of its loss for the year then ended;

• 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.

The company has taken advantage of the exemption available under Section 33 Related Party Disclosure not to disclose transactions with fellow group subsidiary undertakings whom are wholly owned by the group.

Cycle Ø Holdings Limited's parent company is Cycle Ø Aggregatorco Limited, a company registered in England and Wales. The registered address of the parent company is 84 Eccleston Square, London, United Kingdom, SW1V 1PX.

The smallest and largest group to prepare consolidated financial statements, which include the results of the company, is Cycle Ø Aggregatorco Limited, a company incorporated and registered in England and Wales. The registered office address of Cycle Ø Aggregatorco Limited is 84 Eccleston Square, London, United Kingdom, SW1V 1PX. Copies of the consolidated financial statements can be found on Companies House.