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REGISTERED NUMBER: SC248035 (Scotland)

| Financial Statements |

| for the Year Ended 31 May 2025 |

| for |

| Worldwide Flags Limited |

Worldwide Flags Limited (Registered number: SC248035)

Contents of the Financial Statements

for the Year Ended 31 May 2025

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 4 |

Worldwide Flags Limited

Company Information

for the Year Ended 31 May 2025

| DIRECTOR: | Mr M Ross

| SECRETARY: | Mr M Ross

| REGISTERED OFFICE: | West Whitelee Farm

| Old Glasgow Road

| By Stewarton

| EAST AYRSHIRE

| KA3 5JU

| REGISTERED NUMBER: | SC248035 (Scotland)

| ACCOUNTANTS: | O'Haras Chartered Accountants

| Radleigh House

| 1 Golf Road

| Clarkston

| Glasgow

| G76 7HU

Worldwide Flags Limited (Registered number: SC248035)

Statement of Financial Position

31 May 2025

| 2025 | 2024 |

| Notes | £ | £ | £ |

FIXED ASSETS

Intangible assets | 3 | - |  | - |  |

Property, plant and equipment | 4 | 39,768 |  | 52,752 |  |

39,768 |  | 52,752 |  |

CURRENT ASSETS

Inventories | 495,568 |  | 511,833 |  |

Debtors | 5 | 2,694 |  | 6,339 |  |

Cash at bank and in hand | 56,458 |  | 91,775 |  |

554,720 |  | 609,947 |  |

CREDITORS

Amounts falling due within one year | 6 | 161,313 |  | 135,368 |  |

NET CURRENT ASSETS | 393,407 |  | 474,579 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 433,175 |  | 527,331 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 312,004 |  | 374,846 |  |

NET ASSETS | 121,171 |  | 152,485 |  |

CAPITAL AND RESERVES

Called up share capital | 736 |  | 814 |  |

Capital redemption reserve | 553 |  | 475 |  |

Retained earnings | 119,882 |  | 151,196 |  |

SHAREHOLDERS' FUNDS | 121,171 |  | 152,485 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Worldwide Flags Limited (Registered number: SC248035)

Statement of Financial Position - continued

31 May 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 February 2026 and were signed by:

Mr M Ross - Director

Worldwide Flags Limited (Registered number: SC248035)

Notes to the Financial Statements

for the Year Ended 31 May 2025

1. | 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 continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

| Revenue

| Turnover represents the amounts derived from the invoiced sale of flags and flag poles, excluding value added tax and trade discounts.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| 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 | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Office equipment | - | 25% on reducing balance

| Inventories

| Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| 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 statement of financial position date.

| 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.

Worldwide Flags Limited (Registered number: SC248035)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

1. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

| 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.

| Debtors

| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

| Creditors

| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2. | EMPLOYEES AND DIRECTORS

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

3. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 June 2024

| and 31 May 2025 | 228,000 |  |

| AMORTISATION

| At 1 June 2024

| and 31 May 2025 | 228,000 |  |

| NET BOOK VALUE

| At 31 May 2025 | - |  |

| At 31 May 2024 | - |  |

Worldwide Flags Limited (Registered number: SC248035)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

4. | PROPERTY, PLANT AND EQUIPMENT

| Fixtures |

| and |  | Motor |  | Office |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 June 2024 | 19,060 |  | 49,990 |  | 37,607 |  | 106,657 |  |

| Additions | - |  | - |  | 274 |  | 274 |  |

| At 31 May 2025 | 19,060 |  | 49,990 |  | 37,881 |  | 106,931 |  |

| DEPRECIATION

| At 1 June 2024 | 18,202 |  | 5,207 |  | 30,496 |  | 53,905 |  |

| Charge for year | 215 |  | 11,196 |  | 1,847 |  | 13,258 |  |

| At 31 May 2025 | 18,417 |  | 16,403 |  | 32,343 |  | 67,163 |  |

| NET BOOK VALUE

| At 31 May 2025 | 643 |  | 33,587 |  | 5,538 |  | 39,768 |  |

| At 31 May 2024 | 858 |  | 44,783 |  | 7,111 |  | 52,752 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 1,387 |  | 5,186 |  |

| Other debtors | 1,307 |  | 1,153 |  |

2,694 |  | 6,339 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 3,298 |  | 5,400 |  |

| Taxation and social security | 31,385 |  | 39,273 |  |

| Other creditors | 126,630 |  | 90,695 |  |

161,313 |  | 135,368 |  |

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

2025 | 2024 |

£ | £ |

| Other creditors | 312,004 |  | 374,846 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Other loans more 5yrs instal | - |  | 3,328 |  |

8. | RELATED PARTY DISCLOSURES

| There is a balance owed to the directors of 115,002 (2024 - £78,002) as at 31st May 2025. No interest was charged on this balance and there are no formal repayments terms.