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REGISTERED NUMBER: 11843166 (England and Wales)

| GROUP STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| AUDITED |

| CONSOLIDATED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| CORNELIUS H GROUP LTD |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

for the year ended 31 December 2024

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 7 |

| Report of the Independent Auditors | 9 |

| Consolidated Income Statement | 13 |

| Consolidated Balance Sheet | 14 |

| Company Balance Sheet | 15 |

| Consolidated Statement of Changes in Equity | 16 |

| Company Statement of Changes in Equity | 17 |

| Consolidated Cash Flow Statement | 18 |

| Notes to the Consolidated Cash Flow Statement | 19 |

| Notes to the Consolidated Financial Statements | 21 |

| CORNELIUS H GROUP LTD |

COMPANY INFORMATION

for the year ended 31 December 2024

| DIRECTORS: | Mr I Bouaru

| Mr I Mereacre

| REGISTERED OFFICE: | Unit 21 123 Rainham Road North

| Dagenham

| RM10 7FD

| REGISTERED NUMBER: | 11843166 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Mukesh Pandit

| AUDITORS: | Xeinadin Audit Limited

| Statutory Auditor

| 8th Floor, Becket House

| 36 Old Jewry

| London

| EC2R 8DD

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

GROUP STRATEGIC REPORT

for the year ended 31 December 2024

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

The results of the group for the year ended 31 December 2024 show a turnover of £58,259,189 (2023: £44,294,240) and pre-tax profits of £3,304,079 (2023: £1,795,161).

The financial year ended 31 December 2024 has seen an increase in group's overall revenue and profitability when compared to the previous financial year. The directors consider this improvement to be a direct result of acquiring new contracts and enhancements in the quality of services provided to our existing and new clients. The improvement in the group's financial performance is also attributed to a greater systemisation of business processes and control over costs.

The forecast for the next financial year continues to be very positive with an almost full order book based on current capacity. The group continues to gain an excellent reputation in the specialised facades and glazing sectors, and the directors are actively looking at improving the management structure and upscaling all departments in order to meet the anticipated increase in demand for our services. With active growth plans and a suitable group structure in place, the group can now focus on better organising the resources for the provision of a wider range of services to our clients. This should assist in increasing the group's business in UK and abroad.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors actively review and assess the main risks to the group's business, monitoring key economic and market forecasts, as well as political pronouncements and other uncertainties which are likely to affect the construction industry as a whole.

The effects of Brexit in the UK have been particularly challenging for our supply chain, as most of the products required for group projects are manufactured outside UK. In addition, the significant dependence on the use of skilled labour from eastern Europe for our on-site installation works has also been severely affected due to the Government's recent immigration restrictions. This has created a significant shortage of skilled labour, leading to significantly increased labour costs, negatively impacting the company's overall profit margins.

Our supply chain has also suffered from significant price inflation and increased lead times in manufacturing, which has affected the group's timely procurement of materials at originally budgeted costs. Whilst most of the group's construction projects were operational throughout the period, output and productivity was low due to delays in the delivery of building structure and facades elements on the part of our key suppliers.

The supply chain problems have been further compounded by the ongoing armed conflict in the Middle East and the war in Ukraine. Such problems have put additional pressure on the timely sourcing of materials required for the group's projects, with the inevitable knock-on effect on project completion dates. This is more significant for the group's business as it could potentially damage the group's reputation and its ability to tender for future contracts.

The directors, however, make every effort to maintain regular contact with clients, architects, developers and main contractors to plan for the timely completion of the projects which have been curtailed due to the above challenges and their resulting impact on our profit margins.

Due to the ongoing high demand for specialised glazing and facades, the group has had to increase its sub-contracted labour force, leading to increased costs of contracted work. The ongoing difficulties within the industry have also led to many facade manufacturing companies facing cashflow problems and falling into administration as a result.

The potential risk of bad debts and longer lead times in the settlement of invoices for works completed is a significant concern for the directors. Our group anticipated revenue and cash flows have also been adversely affected by the unexpected failure of the key customer Skonto Plan UK Ltd, resulting in receivables of around £1.9 million having to be written off in the current financial year.

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

GROUP STRATEGIC REPORT

for the year ended 31 December 2024

SECTION 172(1) STATEMENT

The directors of Cornelius Group H Limited (H Group) acknowledge their duty under Section 172(1) of the Companies Act 2006 to act in the way they consider, in good faith, would most likely promote the success of the the H Group for the benefit of its members as a whole. In doing so, the directors have regard to the interests of the H Group's employees, suppliers, customers, and other stakeholders, together with the impact of the H Group's operations on the community and environment.

The board recognises that the long-term success of the H Group depends on maintaining strong relationships with all stakeholders involved in the delivery of its construction services.

The H Group is committed to maintaining a safe and supportive working environment for its employees. The directors recognise the importance of employee engagement, training, and development in maintaining high standards of performance within the construction sector. Health and safety remains a key priority, and policies and procedures are regularly reviewed to ensure compliance with industry standards and regulatory requirements.

The H Group strives to maintain high levels of customer satisfaction by delivering construction projects efficiently, safely, and to agreed specifications. The directors consider client feedback and project outcomes when reviewing operational performance and future planning.

The H Group works closely with its suppliers and subcontractors to maintain reliable and sustainable supply chains. The directors seek to maintain fair and transparent business relationships and aim to ensure that suppliers are treated responsibly and paid in accordance with agreed terms.

As a construction business operating within local communities, the H Group is mindful of its environmental responsibilities. The directors consider environmental impact and regulatory compliance when making operational decisions and aim to promote responsible construction practices.

The directors are committed to maintaining high standards of business conduct and corporate governance. The H Group operates in accordance with applicable laws and regulations and seeks to maintain a reputation for integrity and professionalism in all business dealings.

In making decisions during the year, the directors have had regard to the likely long-term consequences of those decisions and the need to foster strong relationships with stakeholders, ensuring the continued success and sustainability of the H Group.

EMPLOYEES

The policy of the group is to employ the most suitably qualified persons regardless of age, religion, gender, sexual orientation or ethnic origin or any other grounds not related to a person's ability to work safely and effectively for the business. The company recognises the importance of ensuring that relevant business information is provided to the employee prior to the employee's commencement date. This is achieved through initial induction (Health Questionnaire, Health & Safety, Anti-Bribery Policy, Skills and Qualifications Assessment) and regular training as required per the Construction Industry Standards.

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

GROUP STRATEGIC REPORT

for the year ended 31 December 2024

KEY PERFORMANCE INDICATORS

The group uses many key performance indicators to manage and monitor the performance of its business, including turnover, gross margin and net profit as set out in the business review.

These indicators are reviewed regularly by management and are communicated internally to staff and, where appropriate, to principal shareholders.

- Client satisfaction - the group continuously strives to be better and maintains good relationships with its clients. The group in the main, only works on large projects for long term clients who understand the group's way of working, having formed an understanding on and off site over the years.

- Employee Satisfaction - whilst employment in the industry is probably at its most competitive, the company have still managed to maintain key staff which has been a factor in the company's growth.

- Qualifications and Skills - regularly kept up to date and in line with the Construction Industry Standards.

- Fixed assets - group's growth has resulted in constant vehicle and plant purchases.

NON- FINANCIAL AND SUSTAINABILITY INFORMATION STATEMENT

The H Group's commitment to sustainability and responsible business practices remains central to its strategy for long-term growth. The group continues to embed environmental, social, and governance (ESG) principles across its operations, aiming to create value not only for shareholders but also for employees, customers, and communities it serves. The H Group's non-financial initiatives focus on environmental stewardship, the welfare and development of its people, community engagement, and maintaining high standards of governance. Policies supporting diversity, inclusion, and environmental responsibility remain in place and continue to guide decision-making and operational improvements.

Employee welfare remains a key priority. The H Group invests in structured training programmes, career development opportunities, and diversity initiatives designed to support a skilled, motivated, and inclusive workforce. Strong governance practices underpin these efforts, ensuring transparency, accountability, and ethical decision-making across the organisation. These standards remain fundamental to maintaining trust with stakeholders and supporting sustainable business performance.

The H Group also maintains active engagement with its local communities by providing employment opportunities and partnering with local suppliers wherever possible. This approach strengthens local economic participation and reflects the company's wider social responsibility commitments. The company continues to uphold human rights within its operations and supply chain through ethical labour practices and a culture that promotes fairness, respect, and equal opportunity.

Through the consistent application of these principles, the H Group is well positioned to respond to evolving ESG expectations. Its ongoing focus on environmental progress, employee development, and responsible governance enhances resilience, supports operational efficiency, and reinforces the H Group's reputation as a responsible construction maintenance company committed to long-term sustainable growth.

Climate Related Financial Disclosure

The H Group recognizes the importance of addressing climate-related risks and opportunities. Our governance framework ensures board oversight of climate matters, with dedicated committees responsible for integrating sustainability into our business strategy. We conduct scenario analyses to understand the potential impacts of different climate pathways on our operations and long-term financial planning.

Our risk-management processes include identifying and mitigating climate-related risks, such as increasing regulatory requirements and physical climate impacts affecting our properties. The H Group remains committed to reducing its greenhouse gas emissions and has set long-term targets to lower its carbon footprint over the next decade. Progress is monitored through key environmental metrics, and climate considerations are incorporated into strategic decision-making to ensure the long-term sustainability of the business.

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

GROUP STRATEGIC REPORT

for the year ended 31 December 2024

MAIN TRENDS AND FACTORS

The future development, performance, and position of the H Group continue to be shaped by key Environmental, Social, and Governance (ESG) trends and factors. Environmental considerations, Employee welfare, Social, community, and Human Rights issues, including our partnerships for reforestation and rigorous governance practices, guide our commitment to accountability, transparency, and positive social impact. These ESG factors collectively influence the H Group's long-term success and shape our strategic policies.

Environmental Matters

The group remains deeply committed to environmental sustainability, actively working to reduce its carbon footprint and manage resources responsibly. The group has implemented policies to minimize energy consumption, reduce waste, and conserve water resources across all projects. The H Group continues to partner with environmental organisations to support wider sustainability efforts and maintain sourcing policies that prioritize eco-friendly suppliers. Our focus on sustainability reflects industry expectations and supports compliance with emerging environmental regulations.

Group's Employees

Employee welfare continues to be a top priority for the H Group. We are committed to fostering a positive work environment, supporting talent development and promoting diversity and inclusion. The group maintains policies that ensure fair compensation, regular training opportunities, and structured career development for all staff. The group also emphasizes work-life balance and offers health and wellness initiatives to strengthen job satisfaction and retention.

To address labour challenges within the construction sector, The H Group continues to invest in automation and technology to reduce manual tasks and improve efficiency. These initiatives strengthen employee engagement and ensure the group attracts and retains top talent.

Social, Community, and Human Rights Issues:

The H Group is dedicated to being a responsible corporate citizen, with an emphasis on social responsibility, community engagement, and human rights. We support local communities through employment opportunities and by partnering with local suppliers wherever possible. The group also upholds human rights within its operations and supply chain by maintaining ethical labour practices and promoting diversity across all levels of the organization. These efforts contribute to a positive social impact and reinforce the H Group reputation as a responsible business aligned with societal expectations for ethical conduct.

Through these policies and commitments, the group is well-positioned to adapt to and benefit from these key trends, strengthening its operational resilience, brand reputation, and long-term growth potential.

STREAMLINED ENERGY AND CARBON REPORT (SECR):

This report has been prepared using the Environmental Reporting Guidelines. Energy Data calculations are taken from the H Group's subsidiaries GHG emissions calculations are undertaken in accordance with the GHG Protocol Corporate Accounting and Reporting Standard. It has used the following data sources to collect the information.

- Energy Supplier Billing Data

- Automatic Meter Reading (AMR) data

- Electricity Half Hourly Data

Annual Energy Consumption

Name |  | Electricity (kWh) |  | Gas (kWh) |  | Total (kWh) |

The H Group - Total |  | 860,871 |  | 608,000 |  | 1,468,871 |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

GROUP STRATEGIC REPORT

for the year ended 31 December 2024

STREAMLINED ENERGY AND CARBON REPORT (SECR): CONTINUED

Name |  | ElectricityT onnes CO2(TCO2 ) |  | GasTonnes CO2(TCO2) |  | Total EmissionsTonne s CO2(TCO2) |  |

The H Group |  | 172.1742 |  | 121.6 |  | 293.7742 |  |

Energy Efficient Strategy

The H Group's strategy is to reduce its GHG emissions through improving energy efficiency to reduce consumption and by purchasing electricity from renewable sources.

Sustainability remains a central tenet of the H Group's operations. The directors are committed to reducing the environmental impact while contributing positively to the communities we serve. We have implemented sustainable practices across our business, from energy-efficient operations to waste reduction initiatives. The directors also ensure that the company supports the local community. Our sustainability ethos, built on the principles of circular economy, conservation, and community engagement, continues to evolve with new goals and targets each year.

ON BEHALF OF THE BOARD:

Mr I Mereacre - Director

10 March 2026

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

REPORT OF THE DIRECTORS

for the year ended 31 December 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

DIVIDENDS

An interim dividend of £758,000 per share was paid on 31 December 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 758,000 .

FUTURE DEVELOPMENTS

Despite ongoing challenges within the wider construction sector, the directors are confident in the group's ability to maintain the quality of its services and to complete projects in accordance with contractual requirements. Strong relationships with clients and suppliers, together with careful budgetary control and cost management, remain central to the entity's strategy for achieving sustainable growth.

The group's established reputation for specialised glazing and facade works within the UK and European markets is expected to support the continued securing of projects that are aligned with the group's technical capabilities and commercial objectives.

The ability of the group to maintain the quality of its services, keeping good relationships with its clients and suppliers, and the satisfactory completion of its projects on time and within budget, are keys areas for the business to meet its growth targets.

Cornelius H Group Limited, also has plans to increase its investment in real estate and in Dulcinella Europe S.R.L Romania, expanding the number of stores nationwide and leading to a stronger brand identity, increased profitability and market capitalisation.

Based on the group's established experience in the installation of specialised glazing systems and facades in the United Kingdom, the directors consider that opportunities continue to exist for the provision of facade consulting and installation services in both the UK and certain EU countries. The group remains in early-stage discussions with a number of facade contractors in relation to potential future projects in the United Kingdom and Europe, including Italy and Latvia. However, the timing and extent of any such expansion remains subject to market conditions and contract awards.

Recent contract awards secured by the group include the redevelopment of 334 Oxford Street (former Debenhams), 1 Liverpool Street, and J4 and J5, a 43-storey residential tower development in Canary Wharf. The group has also continued works at the Olympia Exhibition Centre in West London, including elements relating to a five-star hotel, architectural steel and glass canopies, a 14-storey office building and a specialist walkway incorporating a media ceiling and retail units.

The group's building servicing and after-sales maintenance division, which includes facade cleaning, inspections of doors and vents, and minor repair works, continues to operate alongside the core installation business. This division provides ongoing service support to clients and contributes to recurring revenue streams.

The group maintains a number of industry-recognised accreditations, including CHAS, Considerate Constructors Scheme and Achilles, together with FIRAS accreditation for passive fire protection installations. Demand for passive fire protection services has remained strong within the specialist facade sector.

In order to support operational requirements and manage costs associated with specialist plant and equipment, the group has established Cornelius Plant Hire Limited, which supplies a significant proportion of the group's day-to-day plant and equipment needs. The directors consider this arrangement to provide greater control over availability and cost efficiency, while reducing reliance on third-party plant hire providers.

The directors remain focused on maintaining a prudent and controlled approach to future development. Priority continues to be given to health and safety, risk management, operational efficiency and the maintenance of strong client relationships. The group will continue to assess market conditions carefully and pursue opportunities that are aligned with its technical expertise and financial capacity, with the objective of delivering projects to required standards, within agreed timescales and budgets.

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

REPORT OF THE DIRECTORS

for the year ended 31 December 2024

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mr I Bouaru

Mr I Mereacre

FINANCIAL INSTRUMENTS

The entity does not actively use financial instruments as part of its financial risk management. It is exposed to the usual credit risks and cash flow associated with selling on credit and manages the risks through credit control procedures.

POLITICAL DONATIONS AND EXPENDITURE

Charitable donations during the year amounted to £6,584 (2023: £14,213). No contributions to political organisations were made during the year.

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;

- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- | 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:

Mr I Mereacre - Director

10 March 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CORNELIUS H GROUP LTD

Opinion

We have audited the financial statements of Cornelius H Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 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 31 December 2024 and of the group's 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 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

CORNELIUS H GROUP LTD

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 eight, 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

CORNELIUS H GROUP LTD

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:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company's sector;

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, employment, and health and safety legislation.

-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;

We assessed the susceptibility of the entity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- |  | making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |

- |  | considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |

To address the risk of fraud through management bias and override of controls, we:

- |  | performed analytical procedures to identify any unusual or unexpected relationships; |

- |  | tested journal entries to identify unusual transactions; |

- |  | assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. |

To address the risk that revenue could be misstated due to fraud. we:

- we obtained an understanding of the entity's revenue recognition policies and compared these to the accounting standard;

- performed a walkthrough to confirm our understanding of the processes and controls through which the business initiates, records, processes and reports revenue transactions;

- tested a sample of revenue transactions to supporting evidence; and

- tested, on a sample basis, revenue related balances in the balance sheet.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- |  | agreeing financial statement disclosures to underlying supporting documentation; |

- |  | enquiring of management as to actual and potential litigation and claims; and reviewing correspondence with HMRC, relevant regulators where appropriate. |

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

CORNELIUS H GROUP LTD

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.

Mukesh Pandit (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

10 March 2026

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

CONSOLIDATED

INCOME STATEMENT

for the year ended 31 December 2024

| 2024 |  | 2023

| Notes | £ | £ |

TURNOVER | 3 | 58,259,189 |  | 44,294,240 |  |

Cost of sales | (40,971,973 | ) | (31,959,136 | ) |

GROSS PROFIT | 17,287,216 |  | 12,335,104 |  |

Administrative expenses | (13,753,440 | ) | (10,647,284 | ) |

3,533,776 |  | 1,687,820 |  |

Other operating income | - |  | 529,325 |  |

OPERATING PROFIT | 5 | 3,533,776 |  | 2,217,145 |  |

Interest receivable and similar income | 39,236 |  | 9,012 |  |

3,573,012 |  | 2,226,157 |  |

Interest payable and similar expenses | 6 | (268,933 | ) | (430,996 | ) |

PROFIT BEFORE TAXATION | 3,304,079 |  | 1,795,161 |  |

Tax on profit | 7 | (574,909 | ) | (458,011 | ) |

PROFIT FOR THE FINANCIAL YEAR | 2,729,170 |  | 1,337,150 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

CONSOLIDATED BALANCE SHEET

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | 435,026 |  | 34,197 |  |

Tangible assets | 11 | 4,255,952 |  | 3,131,861 |  |

Investments | 12 | - |  | 452,224 |  |

Investment property | 13 | 12,202,691 |  | 9,284,129 |  |

16,893,669 |  | 12,902,411 |  |

CURRENT ASSETS

Stocks | 14 | 546,498 |  | 742,102 |  |

Debtors | 15 | 6,496,135 |  | 6,093,818 |  |

Cash at bank and in hand | 2,858,183 |  | 3,323,869 |  |

9,900,816 |  | 10,159,789 |  |

CREDITORS

Amounts falling due within one year | 16 | 4,523,706 |  | 2,871,541 |  |

NET CURRENT ASSETS | 5,377,110 |  | 7,288,248 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 22,270,779 |  | 20,190,659 |  |

CREDITORS

Amounts falling due after more than one year | 17 | (5,539,724 | ) | (5,446,933 | ) |

PROVISIONS FOR LIABILITIES | 20 | (364,416 | ) | (348,257 | ) |

NET ASSETS | 16,366,639 |  | 14,395,469 |  |

CAPITAL AND RESERVES

Called up share capital | 21 | 300 |  | 300 |  |

Share premium | 22 | 2,344,900 |  | 2,344,900 |  |

Retained earnings | 22 | 14,021,439 |  | 12,050,269 |  |

SHAREHOLDERS' FUNDS | 16,366,639 |  | 14,395,469 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2026 and were signed on its behalf by:

Mr I Mereacre - Director

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

COMPANY BALANCE SHEET

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | - |  | - |  |

Investments | 12 | 1,195,568 |  | 1,195,568 |  |

Investment property | 13 | - |  | - |  |

1,195,568 |  | 1,195,568 |  |

CURRENT ASSETS

Debtors | 15 | 10,566,240 |  | 8,515,555 |  |

Cash at bank and in hand | 45,742 |  | 43,186 |  |

10,611,982 |  | 8,558,741 |  |

CREDITORS

Amounts falling due within one year | 16 | 5,224,577 |  | 2,441,627 |  |

NET CURRENT ASSETS | 5,387,405 |  | 6,117,114 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,582,973 |  | 7,312,682 |  |

CAPITAL AND RESERVES

Called up share capital | 21 | 300 |  | 300 |  |

Share premium | 22 | 2,344,900 |  | 2,344,900 |  |

Retained earnings | 22 | 4,237,773 |  | 4,967,482 |  |

SHAREHOLDERS' FUNDS | 6,582,973 |  | 7,312,682 |  |

Company's profit/(loss) for the financial year | 28,291 |  | (93,215 | ) |

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2026 and were signed on its behalf by:

Mr I Mereacre - Director

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the year ended 31 December 2024

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1 January 2023 | 300 |  | 11,387,119 |  | 2,344,900 |  | 13,732,319 |  |

Changes in equity

Dividends | - |  | (674,000 | ) | - |  | (674,000 | ) |

Total comprehensive income | - |  | 1,337,150 |  | - |  | 1,337,150 |  |

Balance at 31 December 2023 | 300 |  | 12,050,269 |  | 2,344,900 |  | 14,395,469 |  |

Changes in equity

Dividends | - |  | (758,000 | ) | - |  | (758,000 | ) |

Total comprehensive income | - |  | 2,729,170 |  | - |  | 2,729,170 |  |

Balance at 31 December 2024 | 300 |  | 14,021,439 |  | 2,344,900 |  | 16,366,639 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

COMPANY STATEMENT OF CHANGES IN EQUITY

for the year ended 31 December 2024

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1 January 2023 | 300 |  | 5,734,697 |  | 2,344,900 |  | 8,079,897 |  |

Changes in equity

Dividends | - |  | (674,000 | ) | - |  | (674,000 | ) |

Total comprehensive income | - |  | (93,215 | ) | - |  | (93,215 | ) |

Balance at 31 December 2023 | 300 |  | 4,967,482 |  | 2,344,900 |  | 7,312,682 |  |

Changes in equity

Dividends | - |  | (758,000 | ) | - |  | (758,000 | ) |

Total comprehensive income | - |  | 28,291 |  | - |  | 28,291 |  |

Balance at 31 December 2024 | 300 |  | 4,237,773 |  | 2,344,900 |  | 6,582,973 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

CONSOLIDATED CASH FLOW STATEMENT

for the year ended 31 December 2024

| 2024 |  | 2023

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 5,845,149 |  | 4,474,230 |  |

Interest paid | (268,933 | ) | (430,996 | ) |

Tax paid | (297,866 | ) | (1,144,615 | ) |

Net cash from operating activities | 5,278,350 |  | 2,898,619 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (452,224 | ) | (3,356 | ) |

Purchase of tangible fixed assets | (1,819,001 | ) | (843,821 | ) |

Purchase of fixed asset investments | - |  | (452,224 | ) |

Purchase of investment property | (2,918,562 | ) | (361,290 | ) |

Sale of intangible fixed assets | 1,806 |  | - |  |

Sale of tangible fixed assets | 82,045 |  | - |  |

Sale of fixed asset investments | 452,224 |  | - |  |

Interest received | 39,236 |  | 9,012 |  |

Net cash from investing activities | (4,614,476 | ) | (1,651,679 | ) |

Cash flows from financing activities

New loans in year | - |  | 408,738 |  |

Loan repayments in year | (364,666 | ) | - |  |

Amount introduced by directors | 4,385 |  | 10,150 |  |

Amount withdrawn by directors | (11,279 | ) | (10,079 | ) |

Equity dividends paid | (758,000 | ) | (674,000 | ) |

Net cash from financing activities | (1,129,560 | ) | (265,191 | ) |

(Decrease)/increase in cash and cash equivalents | (465,686 | ) | 981,749 |  |

Cash and cash equivalents at beginning of year | 2 | 3,323,869 |  | 2,342,120 |  |

Cash and cash equivalents at end of year | 2 | 2,858,183 |  | 3,323,869 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

for the year ended 31 December 2024

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

| 2024 |  | 2023

£ | £ |

| Profit before taxation | 3,304,079 |  | 1,795,161 |  |

| Depreciation charges | 638,259 |  | 645,059 |  |

| Loss on disposal of fixed assets | 24,196 |  | - |  |

| Finance costs | 268,933 |  | 430,996 |  |

| Finance income | (39,236 | ) | (9,012 | ) |

4,196,231 |  | 2,862,204 |  |

| Decrease/(increase) in stocks | 195,604 |  | (112,549 | ) |

| (Increase)/decrease in trade and other debtors | (402,317 | ) | 2,413,444 |  |

| Increase/(decrease) in trade and other creditors | 1,855,631 |  | (688,869 | ) |

| Cash generated from operations | 5,845,149 |  | 4,474,230 |  |

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:

| Year ended 31 December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 2,858,183 |  | 3,323,869 |  |

| Year ended 31 December 2023

| 31.12.23 |  | 1.1.23

£ | £ |

| Cash and cash equivalents | 3,323,869 |  | 2,809,575 |  |

| Bank overdrafts | - |  | (467,455 | ) |

3,323,869 |  | 2,342,120 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

for the year ended 31 December 2024

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.1.24 | Cash flow | At 31.12.24

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 3,323,869 |  | (465,686 | ) | 2,858,183 |  |

3,323,869 |  | (465,686 | ) | 2,858,183 |  |

| Debt

| Debts falling due within 1 year | (364,664 | ) | 364,664 |  | - |  |

| Debts falling due after 1 year | (5,446,933 | ) | - |  | (5,446,933 | ) |

(5,811,597 | ) | 364,664 |  | (5,446,933 | ) |

| Total | (2,487,728 | ) | (101,022 | ) | (2,588,750 | ) |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

for the year ended 31 December 2024

1. | STATUTORY INFORMATION

| Cornelius H Group 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 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 as modified by the revaluation of certain assets.

| The group financial statements consolidate the financial statements of Cornelius H Group Limited and all its subsidiary undertakings drawn up to 31 December each year.

| After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its consolidated financial statements.

| Basis of consolidation

| The consolidated financial statements incorporate the financial statements of the company and entities controlled by the group (its subsidiaries). Control is achieved where the group has power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

| Acquisitions of subsidiaries and businesses are accounted for using the purchase method. The cost of the business combination is measured at the aggregate of the fair values (at the date of exchange) of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquire plus costs direct attributed to the business combination.

| Any excess of the cost of the business combination over the acquirers interest in the net fair value of the identifiable assets and liabilities is recognised as goodwill. If the net fair value of the identifiable assets and liabilities exceeds the cost of the business combination the excess is recognised separately on the face of the consolidated statement of financial position immediately below goodwill.

| The results of subsidiaries acquired or disposed of during the year are included in total comprehensive income from the effective date of acquisition and up to the effective date of disposal, as appropriate using accounting policies consistent with those of the parent.

| All intra-group transactions, balances, income and expenses are eliminated in full on consolidation. Wholly owned dormant subsidiaries are considered not to material for the purposes of providing a true and fair view and excluded from consolidation.

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of the accounting policies and the reported amounts of assets and liabilities, revenue and expenses. Actual results may differ from these estimates.

| Estimates and underlying assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are reasonable under the circumstances. Revisions to accounting estimates are recognised in the period in which the estimates are revises and in any future periods affected.

| 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 fixed assets

| The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of assets. The useful economic lives and residual values are assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

| ii) Provision required for any bad or doubtful debts.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes from rendering of service. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done during the year, including estimates of amounts not invoiced.

| Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion of the contract. Turnover is only recognised to the extent of recoverable expense when the outcome of a contract cannot be estimated reliably.

| Turnover in respect of rental income, the gross rental income receivable from tenants in respect of investment properties owned or managed by the Company during the accounting period.

| Turnover in respect of hire represents the amount receivable for the hire of equipment supplied to customers during the accounting period, excluding value added tax (VAT).

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of business in 2022 and 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.

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

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.

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

| Fixtures and fittings | - | 25% on reducing balance and 20% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on reducing balance

| Tangible fixed assets are held at cost less accumulated deprecation and any impairment losses.

| Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in the pattern by which the entity expects to consume an asset's future economic benefits.

| Freehold properties comprise commercial and residential properties. The valuation was made by the directors on an open market basis by reference to market evidence of transaction prices for similar properties.

| Government grants

| Grants are accounted for under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

| Grants of a revenue nature are recognised in 'other income' within profit or loss in the same period as the related expenditure.

| Investment property

| Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

| Stocks

| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

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

| Financial instruments

| The group only enters into basic financial instrument transactions that result in the recognition of financial asset or liabilities.

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

| Short term creditors are measured at 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.

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year 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 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.

| 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.

| 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. A defined contribution plan is a post-employment benefit plan under which the company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

| Parent company disclosure exemptions

| In preparing the separate financial statements of the parent company, advantage has been taken of the following disclosure exemptions available to qualifying entities:

| - No cash flow statement or net debt reconciliation has been presented for the parent company;

| - Disclosures in respect of the parent company's income, expense, net gains and net losses on financial instruments measured at amortised cost have not been presented as equivalent disclosures have been provided in respect of the group as a whole;

| - Disclosures in respect of the details of the parent company's share-based payment arrangements have not been presented as equivalent disclosures have been provided in respect of the group as a whole; and

| - No disclosure has been given for the aggregate remuneration of the key management personnel of the parent company as their remuneration is included in the totals for the group as a whole.

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

3. | TURNOVER

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

| An analysis of turnover by geographical market is given below:

| 2024 |  | 2023

£ | £ |

| United Kingdom | 36,109,816 |  | 25,621,371 |  |

| Europe | 22,149,373 |  | 18,672,869 |  |

58,259,189 |  | 44,294,240 |  |

4. | EMPLOYEES AND DIRECTORS

| 2024 |  | 2023

£ | £ |

| Wages and salaries | 5,380,315 |  | 381,149 |  |

| Social security costs | 859,463 |  | 35,101 |  |

| Other pension costs | 237,542 |  | 2,774 |  |

6,477,320 |  | 419,024 |  |

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

| 2024 |  | 2023

| Management | 17 |  | 24 |  |

| Directors | 2 |  | 2 |  |

| Administrative staff | 47 |  | 28 |  |

| Site staff | 411 |  | 351 |  |

477 |  | 405 |  |

| The average number of employees by undertakings that were proportionately consolidated during the year was 468 (2023 - 392 ) .

| 2024 |  | 2023

£ | £ |

| Directors' remuneration | - |  | - |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

5. | OPERATING PROFIT

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

| 2024 |  | 2023

£ | £ |

| Hire of plant and machinery | 1,671,095 |  | 1,077,606 |  |

| Depreciation - owned assets | 588,669 |  | 639,870 |  |

| Loss on disposal of fixed assets | 24,196 |  | - |  |

| Goodwill amortisation | 49,589 |  | 5,191 |  |

| Auditors' remuneration | 44,549 |  | 30,190 |  |

| Foreign exchange differences | 277,509 |  | (84,998 | ) |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2024 |  | 2023

£ | £ |

| Bank loan interest | 268,933 |  | 409,575 |  |

| Finance leases and HP contract | - |  | 21,421 |  |

268,933 |  | 430,996 |  |

7. | TAXATION

| Analysis of the tax charge

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

| 2024 |  | 2023

£ | £ |

| Current tax:

| UK corporation tax | 797,139 |  | 658,027 |  |

| Corporation tax adjustment | (238,390 | ) | (205,973 | ) |

| Total current tax | 558,749 |  | 452,054 |  |

| Deferred tax | 16,160 |  | 5,957 |  |

| Tax on profit | 574,909 |  | 458,011 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

7. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

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

| 2024 |  | 2023

£ | £ |

| Profit before tax | 3,304,079 |  | 1,795,161 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 25 %) | 826,020 |  | 448,790 |  |

| Effects of:

| Expenses not deductible for tax purposes | 4,665 |  | 4,512 |  |

| Depreciation in excess of capital allowances | 6,640 |  | 13,064 |  |

| Utilisation of tax losses | (2,625 | ) | (104,878 | ) |

| Effects on change of tax rate | - |  | (24,816 | ) |

| Research and development tax claim | (238,390 | ) | (218,618 | ) |

| Foreign tax adjustments | (44,969 | ) | 329,269 |  |

| Deferred tax | 16,160 |  | 5,958 |  |

| Other adjustment | 1,358 |  | 4,730 |  |

| Loss on disposal of assets | 6,050 |  | - |  |

| Total tax charge | 574,909 |  | 458,011 |  |

8. | 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.

9. | DIVIDENDS

| 2024 |  | 2023

£ | £ |

| Ordinary shares of £1 each

| Interim | 758,000 |  | 674,000 |  |

| .

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

10. | INTANGIBLE FIXED ASSETS

| Group

| Goodwill

£ |

| COST

| At 1 January 2024 | 47,637 |  |

| Additions | 452,224 |  |

| Disposals | (1,806 | ) |

| At 31 December 2024 | 498,055 |  |

| AMORTISATION

| At 1 January 2024 | 13,440 |  |

| Amortisation for year | 49,589 |  |

| At 31 December 2024 | 63,029 |  |

| NET BOOK VALUE

| At 31 December 2024 | 435,026 |  |

| At 31 December 2023 | 34,197 |  |

11. | TANGIBLE FIXED ASSETS

| Group

| Fixtures

| Long |  | Plant and |  | and

| leasehold |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 January 2024 | 830,000 |  | 2,583,628 |  | 47,060 |  |

| Additions | - |  | 1,699,609 |  | 1,569 |  |

| Disposals | - |  | (82,045 | ) | - |  |

| At 31 December 2024 | 830,000 |  | 4,201,192 |  | 48,629 |  |

| DEPRECIATION

| At 1 January 2024 | - |  | 916,591 |  | 27,540 |  |

| Charge for year | - |  | 405,403 |  | 4,970 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 December 2024 | - |  | 1,321,994 |  | 32,510 |  |

| NET BOOK VALUE

| At 31 December 2024 | 830,000 |  | 2,879,198 |  | 16,119 |  |

| At 31 December 2023 | 830,000 |  | 1,667,037 |  | 19,520 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

11. | TANGIBLE FIXED ASSETS - continued

| Group

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024 | 953,783 |  | - |  | 4,414,471 |  |

| Additions | 104,533 |  | 13,290 |  | 1,819,001 |  |

| Disposals | (46,610 | ) | - |  | (128,655 | ) |

| At 31 December 2024 | 1,011,706 |  | 13,290 |  | 6,104,817 |  |

| DEPRECIATION

| At 1 January 2024 | 338,479 |  | - |  | 1,282,610 |  |

| Charge for year | 173,910 |  | 4,386 |  | 588,669 |  |

| Eliminated on disposal | (22,414 | ) | - |  | (22,414 | ) |

| At 31 December 2024 | 489,975 |  | 4,386 |  | 1,848,865 |  |

| NET BOOK VALUE

| At 31 December 2024 | 521,731 |  | 8,904 |  | 4,255,952 |  |

| At 31 December 2023 | 615,304 |  | - |  | 3,131,861 |  |

12. | FIXED ASSET INVESTMENTS

| Group

| Unlisted

| investments

£ |

| COST

| At 1 January 2024 | 452,224 |  |

| Disposals | (452,224 | ) |

| At 31 December 2024 | - |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  |

| At 31 December 2023 | 452,224 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

12. | FIXED ASSET INVESTMENTS - continued

| Company

| Shares in |

| group |  | Unlisted |

| undertakings |  | investments |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024

| and 31 December 2024 | 26,225 |  | 1,169,343 |  | 1,195,568 |  |

| NET BOOK VALUE

| At 31 December 2024 | 26,225 |  | 1,169,343 |  | 1,195,568 |  |

| At 31 December 2023 | 26,225 |  | 1,169,343 |  | 1,195,568 |  |

| The investment has been fully acquired and is now a subsidiary.

13. | INVESTMENT PROPERTY

| Group

| Total

£ |

| FAIR VALUE

| At 1 January 2024 | 9,284,129 |  |

| Additions | 2,918,562 |  |

| At 31 December 2024 | 12,202,691 |  |

| NET BOOK VALUE

| At 31 December 2024 | 12,202,691 |  |

| At 31 December 2023 | 9,284,129 |  |

| Investment properties comprise commercial and residential properties. The valuation was made by the directors on an open market basis by reference to market evidence of transaction prices for similar properties.

| In the event of these properties being sold for the amount stated in financial statements, it is estimated that a tax charge of approximately £284,653 (2023: £284,653) would arise, for which provision has been made in these financial statements.

| The historical cost of the freehold properties stated in the financial statements including the foreign subsidiaries is £11,114,082 (2023: £8,195,520).

14. | STOCKS

| Group |

2024 | 2023 |

£ | £ |

| Finished goods | 546,498 |  | 742,102 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

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

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Trade debtors | 5,193,024 |  | 4,887,803 |  | - |  | - |  |

| Amounts owed by group undertakings | - |  | - |  | 10,565,805 |  | 8,515,555 |  |

| Other debtors | 836,775 |  | 1,014,883 |  | 435 |  | - |  |

| Prepayments and accrued income | 466,336 |  | 191,132 |  | - |  | - |  |

6,496,135 |  | 6,093,818 |  | 10,566,240 |  | 8,515,555 |  |

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

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 18) | - |  | 364,664 |  | - |  | - |  |

| Trade creditors | 1,756,590 |  | 1,068,601 |  | - |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 5,207,492 |  | 2,439,722 |  |

| Tax | 680,361 |  | 419,478 |  | 9,180 |  | - |  |

| Social security and other taxes | 601,204 |  | 469,953 |  | - |  | - |  |

| Other creditors | 1,408,760 |  | 438,031 |  | - |  | - |  |

| Directors' current accounts | 20,290 |  | 27,184 |  | 605 |  | 605 |  |

| Accrued expenses | 56,501 |  | 83,630 |  | 7,300 |  | 1,300 |  |

4,523,706 |  | 2,871,541 |  | 5,224,577 |  | 2,441,627 |  |

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

| Group |

2024 | 2023 |

£ | £ |

| Bank loans (see note 18) | 5,446,933 |  | 5,446,933 |  |

| Other creditors | 92,791 |  | - |  |

5,539,724 |  | 5,446,933 |  |

18. | LOANS

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

| Group |

2024 | 2023 |

£ | £ |

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

| Bank loans | - |  | 364,664 |  |

| Amounts falling due between one and two years: |

| Bank loans | 5,446,933 |  | 5,446,933 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

18. | LOANS - continued

| Bank overdraft is secured by a fixed and floating charge over the assets of the respective company. Bank loans are secured by a fixed charge over the property.

19. | FINANCIAL INSTRUMENTS

| The group does not actively use financial instruments as part of its financial risk management. It is exposed to the usual credit risks and cash flow associated with selling on credit and manages the risks through credit control procedures.

20. | PROVISIONS FOR LIABILITIES

| Group |

2024 | 2023 |

£ | £ |

| Deferred tax | 364,416 |  | 348,257 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 348,257 |  |

| Provided during year | 16,159 |  |

| Balance at 31 December 2024 | 364,416 |  |

21. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 300 | Ordinary | £1 | 300 |  | 300 |  |

22. | RESERVES

| Group

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 January 2024 | 12,050,269 |  | 2,344,900 |  | 14,395,169 |  |

| Profit for the year | 2,729,170 |  | 2,729,170 |  |

| Dividends | (758,000 | ) | (758,000 | ) |

| At 31 December 2024 | 14,021,439 |  | 2,344,900 |  | 16,366,339 |  |

| CORNELIUS H GROUP LTD (REGISTERED NUMBER: 11843166) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

22. | RESERVES - continued

| Company

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 January 2024 | 4,967,482 |  | 2,344,900 |  | 7,312,382 |  |

| Profit for the year | 28,291 |  | 28,291 |  |

| Dividends | (758,000 | ) | (758,000 | ) |

| At 31 December 2024 | 4,237,773 |  | 2,344,900 |  | 6,582,673 |  |

23. | PENSION COMMITMENTS

| The entity operates fully insured defined contribution pension schemes for certain members of staff and the pension charge represents the amounts paid by the entity to the pension funds during the year. Payments during the year amounted to £237,542 (£1,211 in UK subsidiaries, the rest in foreign subsidiaries) (2023: £2,774 in UK subsidiaries). These contributions are invested separately from the company's assets.

24. | ULTIMATE PARENT COMPANY

| Cornelius H Group Limited is regarded by the directors as being the company's ultimate parent company.

| The parent company was registered in the United Kingdom, it was controlled throughout the current and previous years by the directors Mr I Bouaru and Mr I Mereacre.

25. | CONTINGENT LIABILITIES

| There were no contingent liabilities at either the beginning or end of the financial year.

26. | RELATED PARTY DISCLOSURES

| The entity 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.

| At the balance sheet date, the company owed £20,290 (2023: £27,184) to the directors. The amounts were interest free and repayable on demand.