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REGISTERED NUMBER: 04143280 (England and Wales)

SWANCAST LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2025

| SWANCAST LIMITED (REGISTERED NUMBER: 04143280) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Chartered Accountants' Report | 8 |

| SWANCAST LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 JULY 2025

| DIRECTORS: | T H Ley

| Mrs S P Ley

| A O Ley

| Mrs K R Phillips

| REGISTERED OFFICE: | C/O Bevan Buckland LLP

| Ground Floor

| Cardigan House

| Swansea

| SA7 9LA

| REGISTERED NUMBER: | 04143280 (England and Wales)

| ACCOUNTANTS: | Bevan Buckland LLP

| Ground Floor Cardigan House

| Castle Court

| Swansea Enterprise Park

| Swansea

| SA7 9LA

| SWANCAST LIMITED (REGISTERED NUMBER: 04143280) |

BALANCE SHEET

31 JULY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,297 |  | 3,063 |  |

Investment property | 5 | 200,000 |  | 200,000 |  |

202,297 |  | 203,063 |  |

CURRENT ASSETS

Debtors | 6 | 100,510 |  | 100,623 |  |

Cash at bank | 29,371 |  | 11,390 |  |

129,881 |  | 112,013 |  |

CREDITORS

Amounts falling due within one year | 7 | 5,877 |  | 2,041 |  |

NET CURRENT ASSETS | 124,004 |  | 109,972 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 326,301 |  | 313,035 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (6,070 | ) | (6,070 | ) |

PROVISIONS FOR LIABILITIES | (437 | ) | (582 | ) |

NET ASSETS | 319,794 |  | 306,383 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Revaluation reserve | 9 | 60,000 |  | 60,000 |  |

Retained earnings | 259,694 |  | 246,283 |  |

SHAREHOLDERS' FUNDS | 319,794 |  | 306,383 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2026 and were signed on its behalf by:

Mrs S P Ley - Director

| SWANCAST LIMITED (REGISTERED NUMBER: 04143280) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1. | STATUTORY INFORMATION

| Swancast 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 as modified by the revaluation of certain assets.

| Tangible fixed assets

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

| Plant and machinery etc | - | Straight line over 4 years

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

| Turnover

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

| Investment properties

| FRS 102, requires investment properties to be accounted for using the fair value accounting rules, therefore:

| a) revaluation differences are reflected in the profit and loss account; and

| b) the fact that no depreciation is charged is no longer a breach of the Companies Act.

| SWANCAST LIMITED (REGISTERED NUMBER: 04143280) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

| Significant management judgements and key sources of estimation uncertainty

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. 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 and in the future periods affected.

| Financial instruments

| 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

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

| Debtors

| Short term debtors are measured at transaction price, less any impairment.

| Cash at Bank

| Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

| SWANCAST LIMITED (REGISTERED NUMBER: 04143280) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

2. | ACCOUNTING POLICIES - continued

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Basic financial liabilities

| Basic financial liabilities, including creditors,that are classified as debt, are initially 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. Financial liabilities classified as payable within one year are not amortised.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Creditors

| Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discount due.

| Provision for liabilities

| Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

| Going Concern

| The company continues to adopt the going concern basis in preparing its financial statements.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 2 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 August 2024

| and 31 July 2025 | 3,063 |  |

| DEPRECIATION

| Charge for year | 766 |  |

| At 31 July 2025 | 766 |  |

| NET BOOK VALUE

| At 31 July 2025 | 2,297 |  |

| At 31 July 2024 | 3,063 |  |

| SWANCAST LIMITED (REGISTERED NUMBER: 04143280) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 August 2024

| and 31 July 2025 | 200,000 |  |

| NET BOOK VALUE

| At 31 July 2025 | 200,000 |  |

| At 31 July 2024 | 200,000 |  |

| The investment properties have been valued by the directors of the company at the end of the year.

| Fair value at 31 July 2025 is represented by:

£ |

| Valuation in 2013 | 20,000 |  |

| Valuation in 2018 | (20,000 | ) |

| Valuation in 2022 | 60,000 |  |

| Cost | 140,000 |  |

200,000 |  |

6. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Other debtors | 10 |  | 123 |  |

| Amounts falling due after more than one year:

| Trade debtors | 100,500 |  | 100,500 |  |

| Aggregate amounts | 100,510 |  | 100,623 |  |

| Also included in debtors due after more than one year is £100,500 due from Skyla Properties Limited a company of which Mr T.H.Ley, Mrs S.P.Ley, Mr A.O.Ley and Mrs K R Phillips are also directors.

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

2025 | 2024 |

£ | £ |

| Taxation and social security | 3,406 |  | 487 |  |

| Other creditors | 2,471 |  | 1,554 |  |

5,877 |  | 2,041 |  |

| Included within creditors is an amount of £1,348 (2024: £400) owed to the directors. This amount is interest free and repayable on demand.

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

2025 | 2024 |

£ | £ |

| Other creditors | 6,070 |  | 6,070 |  |

| Grant received from Council is repayable on sale of property.

| SWANCAST LIMITED (REGISTERED NUMBER: 04143280) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

9. | RESERVES

| Revaluation

| reserve

£ |

| At 1 August 2024

| and 31 July 2025 | 60,000 |  |

10. | ULTIMATE CONTROLLING PARTY

| The Ultimate Controlling Party is considered to be Skyla Properties Limited (C/O of Ground Floor Cardigan House, Castle Court, Swansea Enterprise Park, Swansea, SA7 9LA) by virtue of its 51% shareholding of Swancast Limited.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

SWANCAST LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Swancast Limited for the year ended 31 July 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Swancast Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Swancast Limited and state those matters that we have agreed to state to the Board of Directors of Swancast Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Swancast Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Swancast Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Swancast Limited. You consider that Swancast Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Swancast Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bevan Buckland LLP

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

16 January 2026