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REGISTERED NUMBER: 02591791 (England and Wales)

| Unaudited Financial Statements for the Year Ended 30th June 2025 |

| for |

| Image Office Supplies Ltd |

Image Office Supplies Ltd (Registered number: 02591791)

Contents of the Financial Statements

for the Year Ended 30th June 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Image Office Supplies Ltd

Company Information

for the Year Ended 30th June 2025

| DIRECTORS: | R Whittal

| S J Clare

| N J Weston

| REGISTERED OFFICE: | 107 Longmead Road

| Emerald Park East

| Emersons Green

| Bristol

| BS16 7FG

| REGISTERED NUMBER: | 02591791 (England and Wales)

| ACCOUNTANTS: | Dunkley's

| Woodlands Grange

| Woodlands Lane

| Bradley Stoke

| Bristol

| United Kingdom

| BS32 4JY

Image Office Supplies Ltd (Registered number: 02591791)

Balance Sheet

30th June 2025

| 30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | 52,962 |  |

Tangible assets | 5 | - |  | 47,972 |  |

- |  | 100,934 |  |

CURRENT ASSETS

Stocks | - |  | 24,502 |  |

Debtors | 6 | 1 |  | 738,946 |  |

Cash at bank | - |  | 40,181 |  |

1 |  | 803,629 |  |

CREDITORS

Amounts falling due within one year | 7 | - |  | 469,994 |  |

NET CURRENT ASSETS | 1 |  | 333,635 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1 |  | 434,569 |  |

CREDITORS

Amounts falling due after more than one year | 8 | - |  | 50,633 |  |

NET ASSETS | 1 |  | 383,936 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 1 |  | 5,015 |  |

Capital redemption reserve | 11 | - |  | 5,015 |  |

Retained earnings | 11 | - |  | 373,906 |  |

SHAREHOLDERS' FUNDS | 1 |  | 383,936 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

Image Office Supplies Ltd (Registered number: 02591791)

Balance Sheet - continued

30th June 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 Board of Directors and authorised for issue on 5th February 2026 and were signed on its behalf by:

R Whittal - Director

Image Office Supplies Ltd (Registered number: 02591791)

Notes to the Financial Statements

for the Year Ended 30th June 2025

1. | STATUTORY INFORMATION

| Image Office Supplies Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration, received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

| Sales of goods

| Revenue for the sale of goods is recognised when all of the following conditions are satisfied:

| - The company has transferred the significant risks and rewards of ownership to the buyer;

| - The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods;

| - The amount of revenue can be measured reliability;

| - It is probable that the company will receive the consideration due under the transaction; and;

| - The costs incurred in respect of the transaction can be measured reliably.

| Goodwill

| Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirers interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the statement of comprehensive income over its useful economic 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.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Stocks

| Stocks are stated at the lower of cost and net realisable value, being the estimated selling price loss cost to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods including labour and attributable overheads.

| At each reporting 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 the Statement of Comprehensive Income.

Image Office Supplies Ltd (Registered number: 02591791)

Notes to the Financial Statements - continued

for the Year Ended 30th June 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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 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.

| Going concern

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

| On 1 June 2025 there was a hive-up whereby all of the trade and assets of Image Office Supplies Ltd were transferred to The Business Supplies Group Limited, of which the parent company is The Business Supplies Group Holdings Limited. There are currently no plans to dissolve the entity and the Company is able to meet its liabilities as they fall through the support of its parent company.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 23 (2024 - 23 ) .

Image Office Supplies Ltd (Registered number: 02591791)

Notes to the Financial Statements - continued

for the Year Ended 30th June 2025

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1st July 2024 | 318,923 |  |

| Disposals | (265,961 | ) |

| Impairments | (52,962 | ) |

| At 30th June 2025 | - |  |

| AMORTISATION

| At 1st July 2024 | 265,961 |  |

| Eliminated on disposal | (265,961 | ) |

| At 30th June 2025 | - |  |

| NET BOOK VALUE

| At 30th June 2025 | - |  |

| At 30th June 2024 | 52,962 |  |

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Long |  | Plant and |  | and |  | Motor |

| leasehold |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1st July 2024 | 908 |  | 43,855 |  | 15,680 |  | 100,923 |  | 161,366 |  |

| Disposals | (908 | ) | (43,855 | ) | (15,680 | ) | (100,923 | ) | (161,366 | ) |

| At 30th June 2025 | - |  | - |  | - |  | - |  | - |  |

| DEPRECIATION

| At 1st July 2024 | - |  | 38,465 |  | 15,514 |  | 59,415 |  | 113,394 |  |

| Charge for year | - |  | 1,633 |  | 38 |  | 3,603 |  | 5,274 |  |

| Eliminated on disposal | - |  | (40,098 | ) | (15,552 | ) | (63,018 | ) | (118,668 | ) |

| At 30th June 2025 | - |  | - |  | - |  | - |  | - |  |

| NET BOOK VALUE

| At 30th June 2025 | - |  | - |  | - |  | - |  | - |  |

| At 30th June 2024 | 908 |  | 5,390 |  | 166 |  | 41,508 |  | 47,972 |  |

Image Office Supplies Ltd (Registered number: 02591791)

Notes to the Financial Statements - continued

for the Year Ended 30th June 2025

5. | TANGIBLE FIXED ASSETS - continued

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| COST

| At 1st July 2024 | 67,753 |  |

| Disposals | (67,753 | ) |

| At 30th June 2025 | - |  |

| DEPRECIATION

| At 1st July 2024 | 39,367 |  |

| Charge for year | 3,603 |  |

| Eliminated on disposal | (42,970 | ) |

| At 30th June 2025 | - |  |

| NET BOOK VALUE

| At 30th June 2025 | - |  |

| At 30th June 2024 | 28,386 |  |

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

| 30.6.25 |  | 30.6.24

£ | £ |

| Trade debtors | - |  | 457,473 |  |

| Amounts owed by group undertakings | 1 |  | - |  |

| Other debtors | - |  | 254,982 |  |

| Prepayments | - |  | 26,491 |  |

1 |  | 738,946 |  |

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

| 30.6.25 |  | 30.6.24

£ | £ |

| Bank loans and overdrafts | - |  | 24,521 |  |

| Hire purchase contracts (see note 9) | - |  | 6,275 |  |

| Trade creditors | - |  | 341,151 |  |

| Social security and other taxes | - |  | 38,272 |  |

| VAT | - |  | 46,991 |  |

| Accrued expenses | - |  | 12,784 |  |

- |  | 469,994 |  |

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

| 30.6.25 |  | 30.6.24

£ | £ |

| Bank loans - 1-2 years | - |  | 10,000 |  |

| Bank loans - 2-5 years | - |  | 2,507 |  |

| Hire purchase contracts (see note 9) | - |  | 38,126 |  |

- |  | 50,633 |  |

Image Office Supplies Ltd (Registered number: 02591791)

Notes to the Financial Statements - continued

for the Year Ended 30th June 2025

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

| Obligations under finance lease and hire purchase contracts are secured against the assets on which the relate.

9. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 30.6.25 |  | 30.6.24 |

£ | £ |

| Net obligations repayable:

| Within one year | - |  | 6,275 |  |

| Between one and five years | - |  | 38,126 |  |

- |  | 44,401 |  |

| Non-cancellable |

| operating leases |

| 30.6.25 |  | 30.6.24

£ | £ |

| Within one year | - |  | 90,000 |  |

| Between one and five years | - |  | 67,500 |  |

- |  | 157,500 |  |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number |  | Class |  | Nominal value |  |  | 30.6.25 |  |  | 30.6.24 |

| £ |  |  | £ |  |

| 5,015 |  | Ordinary |  | £1 |  |  | - |  |  | 5,015 |

| 1 |  | Ordinary |  | £1 |  |  | 1 |  |  | - |

|  | 1 |  |  | 5,015 |

| During the year, the company undertook a capital reorganisation whereby the existing 5,015 Ordinary Shares of £1 each were restructured into 1 Ordinary Share of £1 each.

| The reorganisation was undertaken to simplify the share structure.

Image Office Supplies Ltd (Registered number: 02591791)

Notes to the Financial Statements - continued

for the Year Ended 30th June 2025

11. | RESERVES

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1st July 2024 | 373,906 |  | 5,015 |  | 378,921 |  |

| Deficit for the year | (105,116 | ) | (105,116 | ) |

| Dividends | (268,790 | ) | (268,790 | ) |

| Capital reduction | - |  | (5,015 | ) | (5,015 | ) |

| At 30th June 2025 | - |  | - |  | - |  |

12. | 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.

| The controlling party is Image Holdings (UK) Ltd.

| The Ultimate Controlling Party is The Business Supplies Group Employee Ownership Trust, which holds 100% of the issued share capital.

| The trustee of the EOT is Aquitaine Trustees Limited, PO Box 357, Mill Court, La Charroterie, St Peter Port, Guernsey, GY1 3XH.