IRIS Accounts Production v25.4.12.37 15587741 Board of Directors 30.6.25 23.3.24 30.6.25 30.6.25 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. sale of promotional and non-food products through a network of petrol stations and convenience stores. true true true false true true false false false false false false true false Ordinary 'A' 1.00000 Ordinary 'B' 1.00000 Ordinary 'C' 1.00000 Ordinary 'D' 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 15587741 2024-03-22 15587741 2025-06-30 15587741 2024-03-23 2025-06-30 15587741 2024-03-22 15587741 ns15:EnglandWales 2024-03-23 2025-06-30 15587741 ns14:PoundSterling 2024-03-23 2025-06-30 15587741 ns10:Director1 2024-03-23 2025-06-30 15587741 ns10:Consolidated 2025-06-30 15587741 ns10:ConsolidatedGroupCompanyAccounts 2024-03-23 2025-06-30 15587741 ns10:PrivateLimitedCompanyLtd 2024-03-23 2025-06-30 15587741 ns10:Consolidated ns10:MediumEntities 2024-03-23 2025-06-30 15587741 ns10:Consolidated ns10:Audited 2024-03-23 2025-06-30 15587741 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-03-23 2025-06-30 15587741 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-03-23 2025-06-30 15587741 ns10:Consolidated 2024-03-23 2025-06-30 15587741 ns10:Consolidated ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-03-23 2025-06-30 15587741 ns10:Medium-sizedCompaniesRegimeForAccounts ns10:Consolidated 2024-03-23 2025-06-30 15587741 ns10:FullAccounts 2024-03-23 2025-06-30 15587741 ns5:Subsidiary1 2024-03-23 2025-06-30 15587741 ns5:Subsidiary2 2024-03-23 2025-06-30 15587741 ns5:Subsidiary3 2024-03-23 2025-06-30 15587741 1 2024-03-23 2025-06-30 15587741 ns10:OrdinaryShareClass2 2024-03-23 2025-06-30 15587741 ns10:OrdinaryShareClass3 2024-03-23 2025-06-30 15587741 ns10:OrdinaryShareClass4 2024-03-23 2025-06-30 15587741 ns10:OrdinaryShareClass5 2024-03-23 2025-06-30 15587741 ns10:Director2 2024-03-23 2025-06-30 15587741 ns10:Director3 2024-03-23 2025-06-30 15587741 ns10:Director4 2024-03-23 2025-06-30 15587741 ns10:Director5 2024-03-23 2025-06-30 15587741 ns10:RegisteredOffice 2024-03-23 2025-06-30 15587741 ns5:ShareCapital 2025-06-30 15587741 ns5:ShareCapital 2024-03-23 2025-06-30 15587741 ns5:RetainedEarningsAccumulatedLosses 2025-06-30 15587741 1 2024-03-23 2025-06-30 15587741 ns5:NetGoodwill 2024-03-23 2025-06-30 15587741 ns5:IntangibleAssetsOtherThanGoodwill 2024-03-23 2025-06-30 15587741 ns5:ComputerSoftware 2024-03-23 2025-06-30 15587741 ns5:LeaseholdImprovements 2024-03-23 2025-06-30 15587741 ns5:PlantMachinery 2024-03-23 2025-06-30 15587741 ns5:FurnitureFittings 2024-03-23 2025-06-30 15587741 ns5:MotorVehicles 2024-03-23 2025-06-30 15587741 ns5:AdditionsToInvestments 2025-06-30 15587741 ns5:CostValuation 2025-06-30 15587741 1 ns5:Subsidiary1 2024-03-23 2025-06-30 15587741 ns5:Subsidiary2 3 2024-03-23 2025-06-30 15587741 5 ns5:Subsidiary3 2024-03-23 2025-06-30 15587741 ns10:OrdinaryShareClass2 2025-06-30 15587741 ns10:OrdinaryShareClass3 2025-06-30 15587741 ns10:OrdinaryShareClass4 2025-06-30 15587741 ns10:OrdinaryShareClass5 2025-06-30

REGISTERED NUMBER: 15587741 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Period 23 March 2024 to 30 June 2025

for

HKL Holdings Limited

| HKL Holdings Limited (Registered number: 15587741) |

Contents of the Consolidated Financial Statements

for the Period 23 March 2024 to 30 June 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 5 |

| Consolidated Income Statement | 9 |

| Consolidated Other Comprehensive Income | 10 |

| Consolidated Balance Sheet | 11 |

| Company Balance Sheet | 12 |

| Consolidated Statement of Changes in Equity | 13 |

| Company Statement of Changes in Equity | 14 |

| Consolidated Cash Flow Statement | 15 |

| Notes to the Consolidated Cash Flow Statement | 16 |

| Notes to the Consolidated Financial Statements | 17 |

| HKL Holdings Limited |

Company Information

for the Period 23 March 2024 to 30 June 2025

| DIRECTORS: | M S Landa

| K S Landa

| I S Landa

| C S Landa

| H J Patel

| REGISTERED OFFICE: | Birchwood House,

| Unit A Willow Drive

| Sherwood Business Park, Annesley

| Nottingham

| NG15 0DP

| REGISTERED NUMBER: | 15587741 (England and Wales)

| AUDITORS: | Duncan & Toplis Audit Limited

| Statutory Auditor

| Park House

| 37 Clarence Street

| Leicester

| Leicestershire

| LE1 3RW

| HKL Holdings Limited (Registered number: 15587741) |

Group Strategic Report

for the Period 23 March 2024 to 30 June 2025

The directors present their Strategic Report for HKL Holdings Limited and its subsidiary undertakings for the period from incorporation on 23 March 2024 to 30 June 2025.

During the period the group was formed following the demerger of the DSL group of companies from previous ownership structures. HKL Holdings Limited became the parent company of D S L Group (Nottingham) Limited, DSL Capital Holdings Limited and DSL Distribution Limited.

REVIEW OF BUSINESS

The period represents the first full trading year of the group following its establishment and operational restructuring.

Following the demerger in April 2024 and relocation of the trading operations to the Birchwood House facility, the group has stabilised operationally and returned to profitability. The consolidation of activities into a single modern distribution and head office location has improved efficiency, strengthened cost control and supported margin recovery across the trading businesses.

Despite continued cost pressures across the UK retail sector, the group delivered a resilient performance driven by:

- |  | improved gross margins and pricing discipline |

- |  | tighter operational cost management |

- |  | reduced product returns |

- |  | strengthened relationships with national retail partners |

- |  | improved field execution and category performance |

The group reported a profit before tax of £588,901 for the period, reflecting a significant improvement in the performance of its principal trading subsidiary compared with the prior year.

The profit after taxation for the period was £557,894, comprising:

| Loss for the period 23 March 2024 to 30 June 2024 |  | (£324,648) |  |

| Profit for the year ended 30 June 2025 |  | £882,542 |  |

Investment and capital strategy

HKL Holdings Limited operates as both the holding company for the group’s trading activities and as an investment platform. During the period the group expanded its investment property portfolio in line with its long-term strategy to build a diversified base of income-producing assets alongside its operating businesses.

The directors intend to continue growing both the trading operations and the investment portfolio in a disciplined manner, focusing on sustainable profitability, cash generation and long-term asset value creation.

Outlook

With a stabilised operating structure, strengthened leadership and improved financial performance, the group enters the new financial year on a solid footing. The directors remain focused on disciplined growth across the trading businesses and selective expansion of the group’s investment activities.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider the potential risks to be similar to those faced by similar businesses in the sector, principally to do with the continuity of supply, the maintenance of their customers, foreign exchange variations and more specifically the continued impact from inflation.

Considerable emphasis is devoted to maintaining service levels with customers and working closely with suppliers on logistical and quality issues to ensure that high levels of performance are achieved.

Staff are encouraged to fully contribute to the business and the directors recognise that the future success of the business depends on the retention and dedication of key employees. Targeted remuneration packages, which the directors consider to be attractive by industry standards, are offered to mitigate this risk and encourage development.

| HKL Holdings Limited (Registered number: 15587741) |

Group Strategic Report

for the Period 23 March 2024 to 30 June 2025

KEY PERFORMANCE INDICATORS

The key performance indicators that the directors monitor the business by are levels of turnover achieved, margins achieved, net current assets position and the cash generation of the business. All these indicators are monitored monthly.

ON BEHALF OF THE BOARD:

M S Landa - Director

2 March 2026

| HKL Holdings Limited (Registered number: 15587741) |

Report of the Directors

for the Period 23 March 2024 to 30 June 2025

The directors present their report with the financial statements of the company and the group for the period 23 March 2024 to 30 June 2025.

INCORPORATION

The group was incorporated on 23 March 2024 .

DIVIDENDS

No dividends will be distributed for the period ended 30 June 2025.

DIRECTORS

The directors who have held office during the period from 23 March 2024 to the date of this report are as follows:

M S Landa - appointed 23 March 2024

K S Landa - appointed 16 April 2024

I S Landa - appointed 16 April 2024

C S Landa - appointed 16 April 2024

H J Patel - appointed 30 April 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

M S Landa - Director

2 March 2026

Report of the Independent Auditors to the Members of

HKL Holdings Limited

Opinion

We have audited the financial statements of HKL Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 June 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30 June 2025 and of the group's profit for the period 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 group 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 group's and the parent 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 Group Strategic Report and 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

HKL Holdings Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

HKL Holdings Limited

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:

Extent to which the audit was considered capable of detecting irregularities, including fraud

The capability to detect irregularities is based on the auditor identifying and assessing the risks of material misstatement of the financial statements, whether due to fraud or error, and then designing and performing audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

a) Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, the following approach was taken:

- |  | Understanding the nature of the industry and sector, control environment and business performance; |

- |  | Consideration of the results of our enquiries of management and those charged with governance about their own identification and assessment of the risks of irregularities; |

- |  | Understanding the company's policies and procedures on compliance with laws and regulations and management of fraud risk, including documentation of instances of non-compliance of laws and regulations and instances of actual, suspected or alleged fraud; |

- |  | Consideration of matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud; |

- |  | Understanding the legal and regulatory frameworks that the company operates in through enquiry of management and those charged with governance and understanding the company's industry and sector. The key laws and regulations that were considered to have an effect on material amounts and disclosures in the financial statements included the Companies Act and tax legislation. |

b) Audit response to risks identified

Based on this understanding, the following audit procedures were designed and performed to respond to the risks identified.

- |  | Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations described as having a direct effect on the financial statement; |

- |  | Enquiring of management, those charged with governance and, where applicable, the company's solicitors concerning actual and potential litigation and claims; |

- |  | Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud |

- |  | Reviewing minutes of meetings of those charged with governance and, where applicable, correspondence with regulators; |

- |  | Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business. |

- |  | Communication of potential fraud risks to all engagement team members and remaining alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |

Report of the Independent Auditors to the Members of

HKL Holdings Limited

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

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.

Mark Torr (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited

Statutory Auditor

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

3 March 2026

| HKL Holdings Limited (Registered number: 15587741) |

Consolidated

Income Statement

for the Period 23 March 2024 to 30 June 2025

| Notes | £ |

| TURNOVER | 3 | 10,471,149 |  |

| Cost of sales | (6,942,956 | ) |

| GROSS PROFIT | 3,528,193 |  |

| Distribution costs | (1,757,788 | ) |

| Administrative expenses | (1,714,631 | ) |

55,774 |  |

| Other operating income | 505,038 |  |

| OPERATING PROFIT | 5 | 560,812 |  |

| Interest receivable and similar income | 28,089 |  |

| PROFIT BEFORE TAXATION | 588,901 |  |

| Tax on profit | 6 | (31,007 | ) |

| PROFIT FOR THE FINANCIAL PERIOD | 557,894 |  |

| Profit attributable to:

| Owners of the parent | 557,894 |  |

| HKL Holdings Limited (Registered number: 15587741) |

Consolidated

Other Comprehensive Income

for the Period 23 March 2024 to 30 June 2025

| Notes | £ |

| PROFIT FOR THE PERIOD | 557,894 |  |

| OTHER COMPREHENSIVE INCOME | - |  |

| TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 557,894 |  |

| Total comprehensive income attributable to:

| Owners of the parent | 557,894 |  |

| HKL Holdings Limited (Registered number: 15587741) |

Consolidated Balance Sheet

30 June 2025

| Notes | £ |

| FIXED ASSETS

| Intangible assets | 8 | 203,099 |  |

| Tangible assets | 9 | 398,853 |  |

| Investments | 10 | - |  |

| Investment property | 11 | 4,074,729 |  |

4,676,681 |  |

| CURRENT ASSETS

| Stocks | 12 | 3,755,438 |  |

| Debtors | 13 | 1,887,607 |  |

| Cash at bank and in hand | 517,616 |  |

6,160,661 |  |

| CREDITORS

| Amounts falling due within one year | 14 | (2,423,393 | ) |

| NET CURRENT ASSETS | 3,737,268 |  |

| TOTAL ASSETS LESS CURRENT LIABILITIES | 8,413,949 |  |

| CREDITORS

| Amounts falling due after more than one year | 15 | (1,542,854 | ) |

| PROVISIONS FOR LIABILITIES | 19 | (31,007 | ) |

| NET ASSETS | 6,840,088 |  |

| CAPITAL AND RESERVES

| Called up share capital | 20 | 6,282,194 |  |

| Retained earnings | 21 | 557,894 |  |

| SHAREHOLDERS' FUNDS | 6,840,088 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 2 March 2026 and were signed on its behalf by:

M S Landa - Director

| HKL Holdings Limited (Registered number: 15587741) |

Company Balance Sheet

30 June 2025

| Notes | £ |

| FIXED ASSETS

| Intangible assets | 8 | - |  |

| Tangible assets | 9 | - |  |

| Investments | 10 | 6,282,193 |  |

| Investment property | 11 | - |  |

6,282,193 |  |

| CURRENT ASSETS

| Cash in hand | 1 |  |

| TOTAL ASSETS LESS CURRENT LIABILITIES | 6,282,194 |  |

| CAPITAL AND RESERVES

| Called up share capital | 20 | 6,282,194 |  |

| SHAREHOLDERS' FUNDS | 6,282,194 |  |

| Company's profit for the financial year | - |  |

The financial statements were approved by the Board of Directors and authorised for issue on 2 March 2026 and were signed on its behalf by:

M S Landa - Director

| HKL Holdings Limited (Registered number: 15587741) |

Consolidated Statement of Changes in Equity

for the Period 23 March 2024 to 30 June 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Changes in equity

Issue of share capital | 6,282,194 |  | - |  | 6,282,194 |  |

Total comprehensive income | - |  | 557,894 |  | 557,894 |  |

Balance at 30 June 2025 | 6,282,194 |  | 557,894 |  | 6,840,088 |  |

| HKL Holdings Limited (Registered number: 15587741) |

Company Statement of Changes in Equity

for the Period 23 March 2024 to 30 June 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Changes in equity

Issue of share capital | 6,282,194 |  | - |  | 6,282,194 |  |

Balance at 30 June 2025 | 6,282,194 |  | - |  | 6,282,194 |  |

| HKL Holdings Limited (Registered number: 15587741) |

Consolidated Cash Flow Statement

for the Period 23 March 2024 to 30 June 2025

| Notes | £ |

| Cash flows from operating activities

| Cash generated from operations | 1 | (1,043,841 | ) |

| Net cash from operating activities | (1,043,841 | ) |

| Cash flows from investing activities

| Purchase of intangible fixed assets | (7,600 | ) |

| Purchase of tangible fixed assets | (356,900 | ) |

| Purchase of investment property | (2,474,729 | ) |

| Sale of tangible fixed assets | 215,900 |  |

| Sale of investment property | 2,183,542 |  |

| Cash on acquisition of subsidiaries | 1,111,033 |  |

| Interest received | 28,089 |  |

| Net cash from investing activities | 699,335 |  |

| Cash flows from financing activities

| Amount introduced by directors | 862,121 |  |

| Share issue | 1 |  |

| Net cash from financing activities | 862,122 |  |

| Increase in cash and cash equivalents | 517,616 |  |

| Cash and cash equivalents at beginning of period | 2 | - |  |

| Cash and cash equivalents at end of period | 2 | 517,616 |  |

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Cash Flow Statement

for the Period 23 March 2024 to 30 June 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

£ |

| Profit before taxation | 588,901 |  |

| Depreciation charges | 122,230 |  |

| Profit on disposal of fixed assets | (593,012 | ) |

| Finance income | (28,089 | ) |

90,030 |  |

| Increase in stocks | (117,287 | ) |

| Decrease in trade and other debtors | 227,691 |  |

| Decrease in trade and other creditors | (1,244,275 | ) |

| Cash generated from operations | (1,043,841 | ) |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Period ended 30 June 2025

| 30.6.25 |  | 23.3.24

£ | £ |

| Cash and cash equivalents | 517,616 |  | - |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 23.3.24 | Cash flow | At 30.6.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | - |  | 517,616 |  | 517,616 |  |

- |  | 517,616 |  | 517,616 |  |

| Debt

| Debts falling due within 1 year | - |  | (57,146 | ) | (57,146 | ) |

| Debts falling due after 1 year | - |  | (1,542,854 | ) | (1,542,854 | ) |

- |  | (1,600,000 | ) | (1,600,000 | ) |

| Total | - |  | (1,082,384 | ) | (1,082,384 | ) |

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements

for the Period 23 March 2024 to 30 June 2025

1. | STATUTORY INFORMATION

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

| Basis of consolidation

| The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

| The consolidated financial statements incorporate the results of the business combination using the purchase method. In the Balance Sheet, the acquirees' identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The combined results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

| Related party exemption

| 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.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements - continued

for the Period 23 March 2024 to 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Critical accounting judgements and key sources of estimation uncertainty

| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

| i) Useful economic lives of tangible assets

| The annual depreciation charge for tangible assets is sensitive to changes in the economic useful lives and residual values of assets. The useful economic lives and residual values are reviewed annually.

| ii) Stock provisions

| In determining stock provisions, evaluation of future demand is considered and appropriate provisions made to reflect the risk of obsolescence. This is significantly affected by forecasted needs for stock. If actual demand or usage were to be lower than estimated, additional stock provisions for excess or obsolete stock may be required.

| iii) Bad debt provisions

| Bad debt provisions are made by the directors based on the age of the unpaid debt and the terms of trade.

| Turnover

| Turnover is measured at fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and rebates allowed by the company and Value Added Tax.

| The company recognises turnover when the following criteria have been met:

| (a) the significant risks and rewards of ownership have been transferred to the buyer;

| (b) the company retains no ongoing involvement or control over the goods;

| (c) the revenue can be reliably measured;

| (d) it is probable that the company will receive the consideration due under the transaction; and

| (e) the costs incurred in respect of the transaction can be reliably measured.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten 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.

| Computer software is being amortised evenly over its estimated useful life of ten years.

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements - continued

for the Period 23 March 2024 to 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| Improvements to property | - | 10% on cost

| Plant and machinery | - | 50% on cost and 20% on reducing balance

| Fixtures and fittings | - | 15% to 35% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Investment property

| Investment property is shown at the most recent valuation which is calculated with references to current market rents, investment yields and recent selling prices for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the purchase price on a first-in, first-out basis.

| At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

| Taxation

| Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 period 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

| 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.

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements - continued

for the Period 23 March 2024 to 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the group.

4. | EMPLOYEES AND DIRECTORS

£ |

| Wages and salaries | 1,895,268 |  |

| Social security costs | 203,466 |  |

| Other pension costs | 233,538 |  |

2,332,272 |  |

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

| Warehouse and packing | 23 |  |

| Distribution | 19 |  |

| Finance and admin | 21 |  |

63 |  |

£ |

| Directors' remuneration | 224,900 |  |

| Information regarding the highest paid director is as follows:

£ |

| Emoluments etc | 74,253 |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

£ |

| Other operating leases | 238,831 |  |

| Depreciation - owned assets | 94,817 |  |

| Profit on disposal of fixed assets | (593,012 | ) |

| Goodwill amortisation | 25,967 |  |

| Computer software amortisation | 1,446 |  |

| Auditors remuneration | 30,780 |  |

| Foreign exchange differences | (149,161 | ) |

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements - continued

for the Period 23 March 2024 to 30 June 2025

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the period was as follows:

£ |

| Deferred tax | 31,007 |  |

| Tax on profit | 31,007 |  |

| UK corporation tax has been charged at 25 % .

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below:

£ |

| Profit before tax | 588,901 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % | 147,225 |  |

| Effects of:

| Expenses not deductible for tax purposes | 7,285 |  |

| Movement in unrealised deferred tax asset | (123,503 | ) |

| Total tax charge | 31,007 |  |

7. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

8. | INTANGIBLE FIXED ASSETS

| Group

| Computer |

| Goodwill |  | software |  | Totals

£ | £ | £ |

| COST

| Additions | 214,919 |  | 7,600 |  | 222,519 |  |

| Acquisition of subsidiary | - |  | 10,600 |  | 10,600 |  |

| At 30 June 2025 | 214,919 |  | 18,200 |  | 233,119 |  |

| AMORTISATION

| Amortisation for period | 25,967 |  | 1,446 |  | 27,413 |  |

| Acquisition of subsidiary | - |  | 2,607 |  | 2,607 |  |

| At 30 June 2025 | 25,967 |  | 4,053 |  | 30,020 |  |

| NET BOOK VALUE

| At 30 June 2025 | 188,952 |  | 14,147 |  | 203,099 |  |

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements - continued

for the Period 23 March 2024 to 30 June 2025

9. | TANGIBLE FIXED ASSETS

| Group

| Improvements |  | Fixtures |

| to |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| Additions | 183,517 |  | 38,170 |  | 116,019 |  | 19,194 |  | 356,900 |  |

| Disposals | (131,023 | ) | (164,686 | ) | (378,388 | ) | (31,695 | ) | (705,792 | ) |

| Acquisition of subsidiary | 131,023 |  | 254,051 |  | 436,175 |  | 62,264 |  | 883,513 |  |

| At 30 June 2025 | 183,517 |  | 127,535 |  | 173,806 |  | 49,763 |  | 534,621 |  |

| DEPRECIATION

| Charge for period | 20,532 |  | 38,332 |  | 26,480 |  | 9,473 |  | 94,817 |  |

| Eliminated on disposal | (131,023 | ) | (164,686 | ) | (378,388 | ) | (25,265 | ) | (699,362 | ) |

| Acquisition of subsidiary | 128,843 |  | 181,207 |  | 388,606 |  | 41,657 |  | 740,313 |  |

| At 30 June 2025 | 18,352 |  | 54,853 |  | 36,698 |  | 25,865 |  | 135,768 |  |

| NET BOOK VALUE

| At 30 June 2025 | 165,165 |  | 72,682 |  | 137,108 |  | 23,898 |  | 398,853 |  |

10. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertaking

£ |

| COST

| Additions | 6,282,193 |  |

| At 30 June 2025 | 6,282,193 |  |

| NET BOOK VALUE

| At 30 June 2025 | 6,282,193 |  |

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

| Subsidiaries

| D S L Group (Nottingham) Limited

| Registered office: Birchwood House Unit A Willow Drive, Sherwood Business Park, Annesley, Nottingham, United Kingdom, NG15 0DP

| Nature of business: Sale of promotional and non-food goods

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements - continued

for the Period 23 March 2024 to 30 June 2025

10. | FIXED ASSET INVESTMENTS - continued

| DSL Capital Holdings Limited

| Registered office: Birchwood House Unit A Willow Drive, Sherwood Business Park, Annesley, Nottingham, United Kingdom, NG15 0DP

| Nature of business: Property investment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| DSL Distribution Limited

| Registered office: Birchwood House Unit A Willow Drive, Sherwood Business Park, Annesley, Nottingham, United Kingdom, NG15 0DP

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| DSL Distribution Limited was voluntarily struck off on 7 October 2025.

11. | INVESTMENT PROPERTY

| Group

| Total

£ |

| FAIR VALUE

| Additions | 4,074,729 |  |

| Disposals | (1,800,000 | ) |

| Acquisition of subsidiary | 1,800,000 |  |

| At 30 June 2025 | 4,074,729 |  |

| NET BOOK VALUE

| At 30 June 2025 | 4,074,729 |  |

12. | STOCKS

| Group |

£ |

| Finished goods | 3,755,438 |  |

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

| Group |

£ |

| Trade debtors | 886,648 |  |

| Other debtors | 35,800 |  |

| Prepayments and accrued income | 965,159 |  |

1,887,607 |  |

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements - continued

for the Period 23 March 2024 to 30 June 2025

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

| Group |

£ |

| Bank loans and overdrafts (see note 16) | 57,146 |  |

| Trade creditors | 950,730 |  |

| Social security and other taxes | 178,764 |  |

| Other creditors | 45,960 |  |

| Directors' current accounts | 862,121 |  |

| Accruals and deferred income | 328,672 |  |

2,423,393 |  |

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

| Group |

£ |

| Bank loans (see note 16) | 1,542,854 |  |

16. | LOANS

| An analysis of the maturity of loans is given below:

| Group |

£ |

| Amounts falling due within one year or | on demand: |

| Bank loans | 57,146 |  |

| Amounts falling due between one and | two years: |

| Bank loans - 1-2 years | 57,146 |  |

| Amounts falling due between two and | five years: |

| Bank loans - 2-5 years | 1,485,708 |  |

| Bank loans are repayable partly by instalments and partly on maturity over 5 years and interest is charged at 2.33% over the Bank of England base rate.

17. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements - continued

for the Period 23 March 2024 to 30 June 2025

| Group

| Non- |

| cancellable |

| operating |

| leases |

£ |

| Within one year | 384,010 |  |

| Between one and five years | 510,376 |  |

894,386 |  |

18. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |

£ |

| Bank loans | 1,600,000 |  |

| Bank loans are secured by fixed charges over the investment properties.

19. | PROVISIONS FOR LIABILITIES

| Group |

£ |

| Deferred tax

| Accelerated capital allowances | 31,007 |  |

| Group

| Deferred |

| tax |

£ |

| Charge to Income Statement during period | 31,007 |  |

| Balance at 30 June 2025 | 31,007 |  |

20. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal

| value: | £ |

| 2,435,900 | Ordinary 'A' | £1 | 2,435,900 |  |

| 1,570,549 | Ordinary 'B' | £1 | 1,570,549 |  |

| 758,582 | Ordinary 'C' | £1 | 758,582 |  |

| 758,581 | Ordinary 'D' | £1 | 758,581 |  |

| 758,582 | Ordinary 'E' | £1 | 758,582 |  |

6,282,194 |  |

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements - continued

for the Period 23 March 2024 to 30 June 2025

20. | CALLED UP SHARE CAPITAL - continued

| The following shares were issued during the period for cash at par:

| 1 Ordinary share of £1

| The following shares were issued during the period through a share for share exchange:

| 6,282,193 Ordinary shares of £1

| These shares were subsequently reclassified into Ordinary 'A', Ordinary 'B', Ordinary 'C', Ordinary 'D' and Ordinary 'E' shares.

| All share classes carry full voting rights with no restrictions and have no restrictions on the repayment of capital. The directors are entitled to vote an individual dividend on one class of share without the same dividend being voted to any other type of share.

21. | RESERVES

| Retained Earnings

| Retained earnings represents cumulative profits and losses, net of dividends paid and other adjustments.

22. | RELATED PARTY DISCLOSURES

| Key management personnel of the entity or its parent (in the | aggregate) |

| Key management personnel are considered to be the directors of the company. Their remuneration is disclosed in Note 4 of the financial statements.

23. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is M S Landa.

| HKL Holdings Limited (Registered number: 15587741) |

Notes to the Consolidated Financial Statements - continued

for the Period 23 March 2024 to 30 June 2025

24. | BUSINESS COMBINATIONS

| On 16 April 2024 HKL Holdings Limited acquired 100% of the share capital of D S L Nottingham Limited, DSL Capital Holdings Limited and DSL Distribution Limited. The consideration and fair value of assets acquired is detailed below.

| Recognised amounts of identifiable assets acquired and liabilities assumed

|  | D S L Group (Nottingham) Limited |  |  | DSL Capital Holdings Limited |  |  | DSL Distribution Limited |

|  | £ |  |  | £ |  |  | £ |

| Fixed Assets |  |

| Intangible |  | 7,993 |  |  | - |  |  | - |

| Tangible |  | 143,200 |  |  | - |  |  | - |

| Investment property |  | - |  |  | 1,800,000 |  |  | - |

|  | 151,193 |  |  | 1.800.000 |  |  | - |

| Current Assets |  |

| Stocks |  | 3.638.151 |  |  | - |  |  | - |

| Debtors |  | 2,115,297 |  |  | - |  |  | 1 |

| Cash at bank and in hand |  | 1,111,030 |  |  | 3 |  |  | - |

|  | 6,864,478 |  |  | 3 |  |  | 1 |

| Total Assets |  | 7,015,671 |  |  | 1,800,003 |  |  | 1 |

| Creditors |  |

| Due within one year and after one year |  | 2,746,506 |  |  | 1,895 |  |  | - |

| Total Liabilities |  | 2,746,506 |  |  | 1,895 |  |  | - |

| Total identifiable net assets / (liabilities) |  | 4,269,165 |  |  | 1,798,108 |  |  | 1 |

| Goodwill |  |

|  | 226,856 |  |  | (11,937 | ) |  | - |

| Total purchase consideration |  | 4,496,021 |  |  | 1,786,171 |  |  | 1 |

| Consideration |  |

|  | £ |  |  | £ |  |  | £ |

| Shares |  | 4,496,021 |  |  | 1,786,171 |  |  | 1 |

|  | 4,496,021 |  |  | 1,786,171 |  |  | 1 |

| Cash inflow on acquisition |  |

| £ |  |  | £ |  |  | £ |  |

| Cash and cash equivalents in subsidiary acquired |  | 1,111,030 |  |  | 3 |  |  | - |

| Net cash inflow on acquisition |  | 1,111,030 |  |  | 3 |  |  | - |