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REDGLAZE LIMITED

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MAY 2025

| REDGLAZE LIMITED (REGISTERED NUMBER: 04536024) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2025

Page |

| Company Information | 1 |

| Report of the Directors | 2 |

| Report of the Independent Auditors | 3 |

| Statement of Income and Retained Earnings | 6 |

| Balance Sheet | 7 |

| Notes to the Financial Statements | 8 |

| REDGLAZE LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MAY 2025

| DIRECTORS: | R J Burrells

| M L Bygrave

| P M Bygrave

| T S Bygrave

| REGISTERED OFFICE: | First Floor, Woburn Court

| 2 Railton Road

| Kempston

| Bedford

| Bedfordshire

| MK42 7PN

| REGISTERED NUMBER: | 04536024 (England and Wales)

| AUDITORS: | HW Bedford Limited

| First Floor, Woburn Court

| 2 Railton Road

| Woburn Rd Ind Est

| Kempston

| Bedfordshire

| MK42 7PN

| REDGLAZE LIMITED (REGISTERED NUMBER: 04536024) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST MAY 2025

The directors present their report with the financial statements of the company for the year ended 31st May 2025.

DIRECTORS

The directors who have held office during the period from 1st June 2024 to the date of this report are as follows:

S M Bygrave - resigned 20th December 2024

Mrs L I Bygrave - resigned 20th December 2024

R J Burrells - appointed 20th December 2024

M L Bygrave - appointed 20th December 2024

P M Bygrave - appointed 20th December 2024

T S Bygrave - appointed 20th December 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, HW Bedford Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

R J Burrells - Director

4th February 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

REDGLAZE LIMITED

Opinion

We have audited the financial statements of Redglaze Limited (the 'company') for the year ended 31st May 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31st May 2025 and of its profit 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

REDGLAZE LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit; or

- | the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Identifying and assessing the controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or

other inappropriate influence over the financial reporting process;

- Challenging assumptions and judgments made by management in its significant accounting estimates and judgments pertaining to the assessment and evaluation of the recognition and subsequent measurement for retentions in light of the stage of completion of construction contracts and expected release period of such retentions and accrued expenses recognition.

- Identifying and testing journal entries, in particular journal entries posted with unusual account combinations; and

- Assessing the extent of compliance with the relevant laws and regulations.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

REDGLAZE LIMITED

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Alberto Di Lorenzo FCA (Senior Statutory Auditor)

for and on behalf of HW Bedford Limited

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

4th February 2026

| REDGLAZE LIMITED (REGISTERED NUMBER: 04536024) |

STATEMENT OF INCOME AND

RETAINED EARNINGS

FOR THE YEAR ENDED 31ST MAY 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 316,400 |  | 638,400 |  |

Administrative expenses | 25,079 |  | 17,154 |  |

291,321 |  | 621,246 |  |

Other operating income | - |  | 559 |  |

OPERATING PROFIT | 4 | 291,321 |  | 621,805 |  |

Interest receivable and similar income | 7,730 |  | 53,461 |  |

299,051 |  | 675,266 |  |

Amounts written off investments | 6 | - |  | 150,000 |  |

PROFIT BEFORE TAXATION | 299,051 |  | 525,266 |  |

Tax on profit | 7 | (14,349 | ) | 12,856 |  |

PROFIT FOR THE FINANCIAL YEAR | 313,400 |  | 512,410 |  |

Retained earnings at beginning of year | 4,745,638 |  | 5,233,228 |  |

Dividends | 8 | (4,543,806 | ) | (1,000,000 | ) |

RETAINED EARNINGS AT END OF YEAR | 515,232 |  | 4,745,638 |  |

| REDGLAZE LIMITED (REGISTERED NUMBER: 04536024) |

BALANCE SHEET

31ST MAY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | - |  | 1,370 |  |

Investments | 10 | 515,655 |  | 515,655 |  |

515,655 |  | 517,025 |  |

CURRENT ASSETS

Stocks | 11 | - |  | 165,219 |  |

Debtors | 12 | 21,840 |  | 3,675,240 |  |

Cash at bank and in hand | 4,868 |  | 409,223 |  |

26,708 |  | 4,249,682 |  |

CREDITORS

Amounts falling due within one year | 13 | 27,031 |  | 20,627 |  |

NET CURRENT (LIABILITIES)/ASSETS | (323 | ) | 4,229,055 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 515,332 |  | 4,746,080 |  |

PROVISIONS FOR LIABILITIES | 14 | - |  | 342 |  |

NET ASSETS | 515,332 |  | 4,745,738 |  |

CAPITAL AND RESERVES

Called up share capital | 15 | 100 |  | 100 |  |

Retained earnings | 16 | 515,232 |  | 4,745,638 |  |

SHAREHOLDERS' FUNDS | 515,332 |  | 4,745,738 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 4th February 2026 and were signed on its behalf by:

R J Burrells - Director

| REDGLAZE LIMITED (REGISTERED NUMBER: 04536024) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2025

1. | STATUTORY INFORMATION

| Redglaze 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows.

| Preparation of consolidated financial statements

| The financial statements contain information about Redglaze Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, BXFour Group Limited, First Floor, 2 Railton Road, Woburn Road Industrial Estate, Kempston, Bedford, MK42 7PN.

| Turnover

| Turnover represents management charges and dividend income received from subsidiaries, stated net of value added tax.

| Other income consists of deposit account interest receivable, interest receivable on directors loan balances and profit / loss on sale of fixed asset investments.

| Tangible fixed assets

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

| Fixtures and fittings | - | 15% on reducing balance

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Stocks

| Included in stock are assets held for re-sale. This includes stock of vehicles, which are valued at the lower of cost and estimated selling price less costs to sell.

| REDGLAZE LIMITED (REGISTERED NUMBER: 04536024) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| i) Financial assets

| Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price.

| Such assets are subsequently carried at amortised cost using the effective interest method.

| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 losses 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.

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or(c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

| ii) Financial liabilities

| Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, are initially recognised at transaction price.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| Taxation

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

| Current asset investments

| Investments are recognised at cost. If there are any indicators of impairment, the investment is written down to recoverable amount.

| REDGLAZE LIMITED (REGISTERED NUMBER: 04536024) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2025

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 1,040 |  | 6,240 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Directors | 4 |  | 2 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 1,040 |  | 6,240 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | - |  | 242 |  |

| Loss on disposal of fixed assets | 1,370 |  | - |  |

| Auditors' remuneration | 3,500 |  | 4,500 |  |

5. | EXCEPTIONAL ITEMS

| In the year ended 31 May 2024 the Company waived £19,480 worth of debt owed by its immediate parent Redglaze Holdings Limited.

6. | AMOUNTS WRITTEN OFF INVESTMENTS |

| 2025 |  | 2024

£ | £ |

| Amounts w/o invs | - |  | 150,000 |  |

7. | TAXATION

| Analysis of the tax (credit)/charge

| The tax (credit)/charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | - |  | 14,007 |  |

| Prior period under/(over) provisions | (14,007 | ) | (1,090 | ) |

| Total current tax | (14,007 | ) | 12,917 |  |

| Deferred tax | (342 | ) | (61 | ) |

| Tax on profit | (14,349 | ) | 12,856 |  |

| REDGLAZE LIMITED (REGISTERED NUMBER: 04536024) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2025

8. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary shares of £1 each

| Interim | 4,543,806 |  | 1,000,000 |  |

9. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1st June 2024 | 5,944 |  | 367 |  | 6,311 |  |

| Disposals | (5,944 | ) | (367 | ) | (6,311 | ) |

| At 31st May 2025 | - |  | - |  | - |  |

| DEPRECIATION

| At 1st June 2024 | 4,574 |  | 367 |  | 4,941 |  |

| Eliminated on disposal | (4,574 | ) | (367 | ) | (4,941 | ) |

| At 31st May 2025 | - |  | - |  | - |  |

| NET BOOK VALUE

| At 31st May 2025 | - |  | - |  | - |  |

| At 31st May 2024 | 1,370 |  | - |  | 1,370 |  |

10. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1st June 2024

| and 31st May 2025 | 515,655 |  |

| NET BOOK VALUE

| At 31st May 2025 | 515,655 |  |

| At 31st May 2024 | 515,655 |  |

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Spicgem Limited

| Registered office: 35 Stilebrook Road, Yardley Road Industrial Estate, Olney, Buckinghamshire, United Kingdom, MK46 5EA

| Nature of business: manufacturing double glazed windows

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| REDGLAZE LIMITED (REGISTERED NUMBER: 04536024) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2025

11. | STOCKS

2025 | 2024 |

£ | £ |

| Assets held for resale | - |  | 165,219 |  |

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

2025 | 2024 |

£ | £ |

| Amounts owed by group undertakings | 21,840 |  | - |  |

| Amounts owed by participating interests | - |  | 2,425,273 |  |

| Other debtors | - |  | 5,400 |  |

| Directors' current accounts | - |  | 1,241,559 |  |

| Prepayments and accrued income | - |  | 3,008 |  |

21,840 |  | 3,675,240 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | - |  | 141 |  |

| Amounts owed to group undertakings | 5,000 |  | - |  |

| Corporation tax | - |  | 14,007 |  |

| VAT | 3,531 |  | 1,339 |  |

| Accruals and deferred income | 18,500 |  | 5,140 |  |

27,031 |  | 20,627 |  |

14. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | - |  | 342 |  |

| Deferred |

| tax |

£ |

| Balance at 1st June 2024 | 342 |  |

| Balance at 31st May 2025 | 342 |  |

15. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

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

| REDGLAZE LIMITED (REGISTERED NUMBER: 04536024) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2025

16. | RESERVES

| Retained

| earnings

£ |

| At 1st June 2024 | 4,745,638 |  |

| Profit for the year | 313,400 |  |

| Dividends | (4,543,806 | ) |

| At 31st May 2025 | 515,232 |  |

17. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2025 | 2024 |

£ | £ |

| S M Bygrave

| Balance outstanding at start of year | 1,241,559 |  | 239,429 |  |

| Amounts advanced | - |  | 1,002,130 |  |

| Amounts repaid | (1,241,559 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | 1,241,559 |  |

| The directors loan is to be repaid in full within 9 months of the balance sheet date.

18. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Bygrave Properties Limited and Redglaze Properties Limited are companies with shareholders that were former directors of Redglaze Limited and are close family relatives of three of the directors.

| Interest free loans with no set repayment terms existed at the balance sheet date as follows:

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Bygrave Properties Limited |  | - |  | 1,933,575 |  |

| Redglaze Properties Limited |  | - |  | 491,698 |  |

| During the year, the loans were transferred to another related entity, Redglaze Holdings Limited.

19. | ULTIMATE CONTROLLING PARTY

| The ultimate parent company was Reglaze Holdings Limited, a company registered in England & Wales until 20 December 2024. Redglaze Holdings Limited sold the shares in Redglaze Limited to BXFour Group Limited, a company registered in England & Wales.

| Consolidated financial statements are prepared for BXFour Group Limited which include the results of this company. These consolidated financial statements are available from First Floor Woburn Court, 2 Railton Road, Kempston, Bedford, MK42 7PN.

| There is no one ultimate controlling party of BXFour Group Limited.