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REGISTERED NUMBER: 02668468 (England and Wales)

| MI TELECOM LIMITED |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 APRIL 2025 |

| MI TELECOM LIMITED (REGISTERED NUMBER: 02668468) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| MI TELECOM LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 30 APRIL 2025

| DIRECTORS: | P.L. Healey

| R.R. Gardner

| D. Gardner

| REGISTERED OFFICE: | 14 Hemmells

| Laindon

| Basildon

| Essex

| SS15 6ED

| REGISTERED NUMBER: | 02668468 (England and Wales)

| INDEPENDENT AUDITORS: | CR Bland Baker Limited

| Chartered Accountants and

| Statutory Auditor

| 21 Lodge Lane

| Grays

| Essex

| RM17 5RY

| MI TELECOM LIMITED (REGISTERED NUMBER: 02668468) |

STATEMENT OF FINANCIAL POSITION

30 APRIL 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 137,790 |  | 184,919 |  |

CURRENT ASSETS

Debtors | 5 | 602,641 |  | 812,300 |  |

Cash at bank | 138,938 |  | 98,332 |  |

741,579 |  | 910,632 |  |

CREDITORS

Amounts falling due within one year | 6 | 730,308 |  | 747,623 |  |

NET CURRENT ASSETS | 11,271 |  | 163,009 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 149,061 |  | 347,928 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (85,604 | ) | (184,840 | ) |

PROVISIONS FOR LIABILITIES | (34,200 | ) | (43,700 | ) |

NET ASSETS | 29,257 |  | 119,388 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 29,157 |  | 119,288 |  |

29,257 |  | 119,388 |  |

| MI TELECOM LIMITED (REGISTERED NUMBER: 02668468) |

STATEMENT OF FINANCIAL POSITION - continued

30 APRIL 2025

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2025 and were signed on its behalf by:

P.L. Healey - Director

| MI TELECOM LIMITED (REGISTERED NUMBER: 02668468) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

1. | STATUTORY INFORMATION

| Mi Telecom 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Going concern

| The directors have undertaken a review of the business and the Group, and have a reasonable expectation that the Group, and therefore the Company, has adequate resources to continue to be operational for a period of 12 months from the date of approval of the financial statements. For this reason, they continue to adopt the going concern basis in preparing the financial statements for the year ended 30 April 2025.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on cost

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

| MI TELECOM LIMITED (REGISTERED NUMBER: 02668468) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 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 statement of financial position 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.

| 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.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 3 ) .

| MI TELECOM LIMITED (REGISTERED NUMBER: 02668468) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 May 2024 | 301,027 |  |

| Additions | 1,956 |  |

| At 30 April 2025 | 302,983 |  |

| DEPRECIATION

| At 1 May 2024 | 116,108 |  |

| Charge for year | 49,085 |  |

| At 30 April 2025 | 165,193 |  |

| NET BOOK VALUE

| At 30 April 2025 | 137,790 |  |

| At 30 April 2024 | 184,919 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

| etc

£ |

| COST

| At 1 May 2024

| and 30 April 2025 | 190,100 |  |

| DEPRECIATION

| At 1 May 2024 | 11,898 |  |

| Charge for year | 44,550 |  |

| At 30 April 2025 | 56,448 |  |

| NET BOOK VALUE

| At 30 April 2025 | 133,652 |  |

| At 30 April 2024 | 178,202 |  |

| MI TELECOM LIMITED (REGISTERED NUMBER: 02668468) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | 263,216 |  | 570,990 |  |

| Amounts owed by group undertakings | 154,596 |  | 34,596 |  |

| Other debtors | 184,829 |  | 206,714 |  |

602,641 |  | 812,300 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 71,806 |  | 96,149 |  |

| Hire purchase contracts (see note 8) | 47,412 |  | 47,412 |  |

| Trade creditors | 217,270 |  | 244,317 |  |

| Amounts owed to group undertakings | 171,106 |  | 171,106 |  |

| Taxation and social security | 108,653 |  | 91,231 |  |

| Other creditors | 114,061 |  | 97,408 |  |

730,308 |  | 747,623 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | - |  | 51,825 |  |

| Hire purchase contracts (see note 8) | 85,604 |  | 133,015 |  |

85,604 |  | 184,840 |  |

| MI TELECOM LIMITED (REGISTERED NUMBER: 02668468) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

8. | LEASING AGREEMENTS

| Minimum lease payments under hire purchase fall due as follows:

2025 | 2024 |

£ | £ |

| Gross obligations repayable:

| Within one year | 58,977 |  | 58,977 |  |

| Between one and five years | 106,466 |  | 165,443 |  |

165,443 |  | 224,420 |  |

| Finance charges repayable:

| Within one year | 11,565 |  | 11,565 |  |

| Between one and five years | 20,862 |  | 32,428 |  |

32,427 |  | 43,993 |  |

| Net obligations repayable:

| Within one year | 47,412 |  | 47,412 |  |

| Between one and five years | 85,604 |  | 133,015 |  |

133,016 |  | 180,427 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 133,016 |  | 180,427 |  |

| The hire purchase creditors are secured on the individual assets acquired under them.

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

| The Report of the Auditors was unqualified.

| Steven James Garrod FCA (Senior Statutory Auditor)

| for and on behalf of CR Bland Baker Limited

| MI TELECOM LIMITED (REGISTERED NUMBER: 02668468) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 30 April 2025 and 30 April 2024:

2025 | 2024 |

£ | £ |

| R.R. Gardner

| Balance outstanding at start of year | - |  | - |  |

| Amounts advanced | 9,086 |  | - |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 9,086 |  | - |  |

| The balance represents an unsecured, interest free loan, repayable on demand.

12. | ULTIMATE CONTROLLING PARTY

| The ultimate parent undertaking of this company as at the year ended 30 April 2025 was Vertical Group Limited which is incorporated in England and registered in England and Wales.

| The immediate parent undertaking and controlling party of this company is Notsallow 134 Limited which is incorporated in England and registered in England and Wales. The largest and smallest group of undertakings which include this company and for which consolidated accounts have been drawn up is that headed by Vertical Group Limited. The address where these accounts can be found is also the registered address of the parent company: 14 Hemmells, Laindon, Basildon, SS15 6ED.

| The ultimate controlling party is P.L. Healey.