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REGISTERED NUMBER: 02061752 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31ST MARCH 2025 |

| FOR |

| CHATILA LIMITED |

| CHATILA LIMITED (REGISTERED NUMBER: 02061752) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| CHATILA LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2025

| DIRECTORS: | M N Chatila

| E Chatila

| SECRETARY: | M N Chatila

| REGISTERED OFFICE: | 83 Cambridge Street

| London

| SW1V 4PS

| REGISTERED NUMBER: | 02061752 (England and Wales)

| ACCOUNTANTS: | George Hay & Company

| Chartered Accountants

| 83 Cambridge Street

| London

| SW1V 4PS

| CHATILA LIMITED (REGISTERED NUMBER: 02061752) |

BALANCE SHEET

31ST MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 122,435 |  | 164,683 |  |

Investments | 5 | 5,162,500 |  | 5,062,500 |  |

5,284,935 |  | 5,227,183 |  |

CURRENT ASSETS

Stocks | 3,401,505 |  | 3,764,509 |  |

Debtors | 6 | 3,073,135 |  | 3,007,781 |  |

Cash at bank | 7,704,600 |  | 7,233,135 |  |

14,179,240 |  | 14,005,425 |  |

CREDITORS

Amounts falling due within one year | 7 | 17,555,309 |  | 16,855,282 |  |

NET CURRENT LIABILITIES | (3,376,069 | ) | (2,849,857 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,908,866 |  | 2,377,326 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 400,000 |  | 400,000 |  |

Retained earnings | 1,508,866 |  | 1,977,326 |  |

SHAREHOLDERS' FUNDS | 1,908,866 |  | 2,377,326 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th January 2026 and were signed on its behalf by:

M N Chatila - Director

| CHATILA LIMITED (REGISTERED NUMBER: 02061752) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

1. | STATUTORY INFORMATION

| Chatila 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.

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 presentational currency of the financial statements is the British Pound Sterling.

| Going concern

| The company has net current liabilities of £3,376,069 (2024: £2,849,857). Included in current liabilities are amounts totalling £12.8m (2024: £14.3m) owing to shareholders and companies controlled by connected shareholders, and they have indicated that they will not demand repayment of amounts due to them if it would put the company in trading difficulties and they have stated these balances will not be demanded for repayment in the next 12 months. The company's cash requirements and ability to pay its liabilities as they fall due will bet met for at least the next 12 months from the date of approving the financial statements.

| Turnover

| Turnover comprises the invoiced value of goods sold or services provided, from the company's principal activity, net of value added tax and trade discounts.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Short leasehold | - | over the life of the lease

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Stocks

| Stock is stated at the lower of cost and net realisable value. Where stock is held on a consignment basis and the company does not have the substantial risks and rewards of stock ownership, no value is attributed to consignment stock held or recorded throughout the year and at the balance sheet date.

| Financial instruments

| Basic financial instruments comprise trade and other debtors, cash and cash equivalents, trade and other creditors and balances with related parties.

| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows, discounted at a market rate of interest

| Basic financial instruments which constitute financing transactions are subsequently carried at amortised cost, using the effective interest rate method.

| Unlisted fixed asset investments are stated at historical cost less any provision for impairment.

| CHATILA LIMITED (REGISTERED NUMBER: 02061752) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

| 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.

| Foreign currencies

| Monetary 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. Non-monetary items that are measured at historical cost in a foreign currency are translated at the exchange rate at the date of the transaction.

| 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.

| Leasing commitments

| Leases where substantially all of the risks and rewards of ownership are not transferred to the company are treated as operating leases. Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

| Provisions

| A provision is recognised in the Balance Sheet when the company has a present legal or constructive obligation as a result of a past event, and it is probable that an outflow of economic benefits will be required to settle the obligation and the amount can be reliably estimated.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 7 (2024 - 6 ) .

| CHATILA LIMITED (REGISTERED NUMBER: 02061752) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Short |  | and |  | Motor |

| leasehold |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1st April 2024

| and 31st March 2025 | 78,318 |  | 1,883,104 |  | 77,880 |  | 2,039,302 |  |

| DEPRECIATION

| At 1st April 2024 | 30,414 |  | 1,795,758 |  | 48,447 |  | 1,874,619 |  |

| Charge for year | 13,053 |  | 21,837 |  | 7,358 |  | 42,248 |  |

| At 31st March 2025 | 43,467 |  | 1,817,595 |  | 55,805 |  | 1,916,867 |  |

| NET BOOK VALUE

| At 31st March 2025 | 34,851 |  | 65,509 |  | 22,075 |  | 122,435 |  |

| At 31st March 2024 | 47,904 |  | 87,346 |  | 29,433 |  | 164,683 |  |

5. | FIXED ASSET INVESTMENTS

2025 | 2024 |

£ | £ |

| Participating interests | 5,000 |  | 5,000 |  |

| Loans to undertakings in which the company has a participating interest | 5,157,500 |  | 5,057,500 |  |

5,162,500 |  | 5,062,500 |  |

| Additional information is as follows:

| Interest

| in joint

| venture

£ |

| COST

| At 1st April 2024

| and 31st March 2025 | 5,000 |  |

| NET BOOK VALUE

| At 31st March 2025 | 5,000 |  |

| At 31st March 2024 | 5,000 |  |

| Loans to

| joint

| ventures

£ |

| At 1st April 2024 | 5,057,500 |  |

| New in year | 100,000 |  |

| At 31st March 2025 | 5,157,500 |  |

| CHATILA LIMITED (REGISTERED NUMBER: 02061752) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | 2,781,363 |  | 2,313,034 |  |

| VAT | 655 |  | - |  |

| Prepayments and accrued income | 291,117 |  | 694,747 |  |

3,073,135 |  | 3,007,781 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 14,585,568 |  | 15,217,861 |  |

| Social security and other taxes | 23,211 |  | 11,706 |  |

| VAT | - |  | 3,389 |  |

| Payments received in advance | 2,611,695 |  | 1,332,436 |  |

| Sundry creditors | 296,561 |  | 267,013 |  |

| Directors' current accounts | 6,942 |  | 8,984 |  |

| Accruals | 31,332 |  | 13,893 |  |

17,555,309 |  | 16,855,282 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 915,000 |  | 915,000 |  |

| Between one and five years | 1,143,750 |  | 2,058,750 |  |

2,058,750 |  | 2,973,750 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 400,000 | Ordinary | £1 | 400,000 |  | 400,000 |  |

10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31st March 2025 and 31st March 2024:

2025 | 2024 |

£ | £ |

| M N Chatila

| Balance outstanding at start of year | (8,984 | ) | 1,472 |  |

| Amounts advanced | 2,042 |  | 27,897 |  |

| Amounts repaid | - |  | (38,353 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (6,942 | ) | (8,984 | ) |

| CHATILA LIMITED (REGISTERED NUMBER: 02061752) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

11. | RELATED PARTY DISCLOSURES

| During the year the related parties listed below were under common ownership and control of the ultimate controlling parties stated in note 13 to the financial statements.

| During the year, the company bought goods and services from the following related companies on normal commercial terms as follows:

| £154,375 (2024: £1,049,740) from Chatila SA Switzerland

| £822,330 (2024: £2,187,267) from Mamedca

| £37,452 (2024: £157,194) from Chatila Bangkok

| At the balance sheet date, the net amounts outstanding (included within trade creditors and other creditors) were:

| £13,752 (2024: £317) due to Chatila SA Switzerland

| £11,796,568 (2024: £12,774,006) due to Mamedca

| £62,785 (2024: £576,667) due to Chatila Bangkok

| £671,484 (2024: £671,484) due to Chatila Jewellery Co Saudi Arabia

| £262,436 (2024: £264,685) due to N Chatila. This amount is interest free and payable on demand.

12. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is N Chatila by virtue of his shareholdings.