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REGISTERED NUMBER: 06222716 (England and Wales)

G.A.T. Solutions Limited

Financial Statements

for the Year Ended 30 April 2025

| G.A.T. Solutions Limited (Registered number: 06222716) |

Contents of the Financial Statements

for the year ended 30 April 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| G.A.T. Solutions Limited |

Company Information

for the year ended 30 April 2025

| Director: | G S Troll

| Registered office: | 20-22 Wenlock Road

| London

| N1 7GU

| Registered number: | 06222716 (England and Wales)

| G.A.T. Solutions Limited (Registered number: 06222716) |

Balance Sheet

30 April 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

Fixed assets

Investments | 4 | 388,786 |  | 407,709 |  |

Investment property | 5 | 224,280 |  | 224,280 |  |

613,066 |  | 631,989 |  |

Current assets

Cash at bank | 265,018 |  | 241,995 |  |

Creditors

Amounts falling due within one year | 6 | 627,490 |  | 630,424 |  |

Net current liabilities | (362,472 | ) | (388,429 | ) |

Total assets less current liabilities | 250,594 |  | 243,560 |  |

Capital and reserves

Called up share capital | 7 | 100 |  | 100 |  |

Retained earnings | 8 | 250,494 |  | 243,460 |  |

Shareholders' funds | 250,594 |  | 243,560 |  |

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 January 2026 and were signed by:

G S Troll - Director

| G.A.T. Solutions Limited (Registered number: 06222716) |

Notes to the Financial Statements

for the year ended 30 April 2025

1. | Statutory information

| G.A.T. Solutions 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.

| Set out below is a summary of principal accounting policies, all of which have been consistently applied throughout the year and the preceding year (except as otherwise stated). The financial statements are presented in Sterling.

| Significant judgements and estimates

| In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimated and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

| 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, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

| Critical judgements in applying the Company's accounting policies

| The critical judgement that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

| (i) Assessing indicators and impairment

| In assessing whether there have been any indicators of impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year.

| Key sources of estimation uncertainty

| The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

| (i) Estimating value in use

| Where an indication of impairment exists the directors will carry out an impairment review of to determine the recoverable amount, which is the higher of fair value less cost to sell and value in use. The value in use calculation requires the directors to estimate the future cash flows expected to arise from the asset or the cash generating unit and a suitable discount rate in order to calculate present value.

| (ii) Recoverability of receivables

| The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the ageing of the receivables, past experience and recoverability, and the credit profile of individual or groups of customers.

| Turnover

| Turnover represents amounts receivable for market research and consulting services.

| Investment

| Fixed asset investments are stated at cost less provision for diminution in value.

| G.A.T. Solutions Limited (Registered number: 06222716) |

Notes to the Financial Statements - continued

for the year ended 30 April 2025

2. | Accounting policies - continued

| Going concern

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

| The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

| Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

| Financial instruments

| Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds both basis financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables. The Company has chosen to apply the provisions of Section 11 Basic Financial Instruments.

| Financial assets and liabilities classified as basic financial instruments

| (i) Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with origi nal maturities of three months or less.

| (ii) Trade and other receivables

| Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

| At the end of each reporting period, the Company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

| (iii) Trade and other payables and loans and borrowings

| Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at unamortised cost using the effective interest method.

| Equity

| Equity instruments are classified in accordance with the substance of contractual agreement. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

| Equity instruments issued by the Company are recorded at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

3. | Employees and directors

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

| G.A.T. Solutions Limited (Registered number: 06222716) |

Notes to the Financial Statements - continued

for the year ended 30 April 2025

4. | Fixed asset investments

Unlisted |

investments |

| £

| Cost

| At 1 May 2024 | 407,709 |  |

| Disposals | (18,923 | ) |

| At 30 April 2025 | 388,786 |  |

| Net book value

| At 30 April 2025 | 388,786 |  |

| At 30 April 2024 | 407,709 |  |

5. | Investment property

Total |

| £

| Cost

| At 1 May 2024

| and 30 April 2025 | 224,280 |  |

| Net book value

| At 30 April 2025 | 224,280 |  |

| At 30 April 2024 | 224,280 |  |

6. | Creditors: amounts falling due within one year |

2025 | 2024 |

| £ | £

| Tax | 1,898 |  | 4,359 |  |

| Other creditors | 2,997 |  | 3,470 |  |

| Directors curr accs less 1yr | 622,595 |  | 622,595 |  |

627,490 |  | 630,424 |  |

7. | Called up share capital

| Allotted, issued and fully paid:

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

value: |  | £ | £

| 100 | Ordinary | £1 | 100 |  | 100 |  |

8. | Reserves

Retained |

earnings |

| £

| At 1 May 2024 | 243,460 |  |

| Profit for the year | 7,034 |  |

| At 30 April 2025 | 250,494 |  |

| G.A.T. Solutions Limited (Registered number: 06222716) |

Notes to the Financial Statements - continued

for the year ended 30 April 2025

9. | Other financial commitments

| The Company invested in Longbow Partners Investment No 3 LLP in January 2013. The Company's total commitment to the fund is £175,000. The sum total of the drawdown at the end of the year is £1,202.

| The Company invested in Longbow Partners Investment No 4 LLP in September 2014. The Company's total commitment to the fund is £200,000. The sum total of the drawdown at the end of the year is £46,089.

| In 2020, the Company invested in a new fund Longbow Fund V, the aggregate commitment to the fund is £367,500 to be drawn over the next three years. This will be funded from previous repayments of other fund investments and Directors loans. The sum total of the drawdown at the year end is £91,062.

| In 2024, the Company invested in a new fund Maroon VI Founder Co-Invest, the aggregate commitment to the fund is £57,500 to be drawn over the next three years. This will be funded from previous repayments of other fund investments and Directors loans. The sum total of the drawdown at the year end is £10,128.

| In 2024, the Company invested in a new fund Navy-One CIP, the aggregate commitment to the fund is £263,509 to be drawn over the next three years. This will be funded from previous repayments of other fund investments and Directors loans. The sum total of the drawdown at the year end is £149,383.

| In 2024, the Company invested in a new fund Maroon Living III, the aggregate commitment to the fund is £68,000 to be drawn over the next three years. This will be funded from previous repayments of other fund investments and Directors loans. The sum total of the drawdown at the year end is £63,472.

| In 2025, the investments in G.A.T Solutions Limited for Longbow Fund V, Maroon VI Founder Co-Invest, Navy One CIP and Maroon Living III were held under an umbrella entity, Lichen Investments No.1 SPF

10. | Related party disclosures

| At the balance sheet date the Company owed G Troll, the director, £572,138 (2024: £572,138) in the form of an interest free loan which is repayable on demand.

| At the balance sheet date the Company owed A Troll, a shareholder of the Company, £50,453 (2024: £50,453) in the form of an interest free loan which is repayable on demand.