IRIS Accounts Production v25.4.12.37 SC226642 Board of Directors 30.6.25 1.7.24 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. true true true false true true false false false false false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC226642 2024-06-30 SC226642 2025-06-30 SC226642 2024-07-01 2025-06-30 SC226642 2023-06-30 SC226642 2023-07-01 2024-06-30 SC226642 2024-06-30 SC226642 ns15:Scotland 2024-07-01 2025-06-30 SC226642 ns14:PoundSterling 2024-07-01 2025-06-30 SC226642 ns10:Director1 2024-07-01 2025-06-30 SC226642 ns10:Director2 2024-07-01 2025-06-30 SC226642 ns10:Consolidated 2025-06-30 SC226642 ns10:ConsolidatedGroupCompanyAccounts 2024-07-01 2025-06-30 SC226642 ns10:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 SC226642 ns10:Consolidated ns10:MediumEntities 2024-07-01 2025-06-30 SC226642 ns10:Consolidated ns10:Audited 2024-07-01 2025-06-30 SC226642 ns10:SmallCompaniesRegimeForDirectorsReport 2024-07-01 2025-06-30 SC226642 ns10:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 SC226642 ns10:Consolidated 2024-07-01 2025-06-30 SC226642 ns10:Consolidated ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-07-01 2025-06-30 SC226642 ns10:Medium-sizedCompaniesRegimeForAccounts ns10:Consolidated 2024-07-01 2025-06-30 SC226642 ns10:FullAccounts 2024-07-01 2025-06-30 SC226642 ns5:Subsidiary1 2024-07-01 2025-06-30 SC226642 ns5:Subsidiary2 2024-07-01 2025-06-30 SC226642 ns5:Subsidiary3 2024-07-01 2025-06-30 SC226642 ns5:Subsidiary4 2024-07-01 2025-06-30 SC226642 1 2024-07-01 2025-06-30 SC226642 ns10:Director3 2024-07-01 2025-06-30 SC226642 ns10:Director4 2024-07-01 2025-06-30 SC226642 ns10:Director6 2024-07-01 2025-06-30 SC226642 ns10:RegisteredOffice 2024-07-01 2025-06-30 SC226642 ns10:Director5 2024-07-01 2025-06-30 SC226642 ns10:Consolidated 2023-07-01 2024-06-30 SC226642 ns5:CurrentFinancialInstruments 2025-06-30 SC226642 ns5:CurrentFinancialInstruments 2024-06-30 SC226642 ns5:ShareCapital 2025-06-30 SC226642 ns5:ShareCapital 2024-06-30 SC226642 ns5:SharePremium 2025-06-30 SC226642 ns5:SharePremium 2024-06-30 SC226642 ns5:RetainedEarningsAccumulatedLosses 2025-06-30 SC226642 ns5:RetainedEarningsAccumulatedLosses 2024-06-30 SC226642 ns5:ShareCapital 2023-06-30 SC226642 ns5:RetainedEarningsAccumulatedLosses 2023-06-30 SC226642 ns5:SharePremium 2023-06-30 SC226642 ns5:FurtherSpecificReserve1ComponentTotalEquity 2023-06-30 SC226642 ns5:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 SC226642 ns5:FurtherSpecificReserve1ComponentTotalEquity 2023-07-01 2024-06-30 SC226642 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-06-30 SC226642 ns5:RetainedEarningsAccumulatedLosses 2024-07-01 2025-06-30 SC226642 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-07-01 2025-06-30 SC226642 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-06-30 SC226642 1 2024-07-01 2025-06-30 SC226642 ns5:NetGoodwill 2024-07-01 2025-06-30 SC226642 ns5:IntangibleAssetsOtherThanGoodwill 2024-07-01 2025-06-30 SC226642 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-07-01 2025-06-30 SC226642 ns5:LeaseholdImprovements 2024-07-01 2025-06-30 SC226642 ns5:PlantMachinery 2024-07-01 2025-06-30 SC226642 ns5:FurnitureFittings 2024-07-01 2025-06-30 SC226642 ns5:MotorVehicles 2024-07-01 2025-06-30 SC226642 ns5:ComputerEquipment 2024-07-01 2025-06-30 SC226642 ns5:CostValuation 2024-06-30 SC226642 1 ns5:Subsidiary1 2024-07-01 2025-06-30 SC226642 ns5:Subsidiary2 3 2024-07-01 2025-06-30 SC226642 5 ns5:Subsidiary3 2024-07-01 2025-06-30 SC226642 ns5:Subsidiary4 7 2024-07-01 2025-06-30 SC226642 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-06-30 SC226642 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-06-30

REGISTERED NUMBER: SC226642 (Scotland)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements For The Year Ended 30 June 2025

for

The GT4 Group Limited

| The GT4 Group Limited (Registered number: SC226642) |

Contents of the Consolidated Financial Statements

For The Year Ended 30 June 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 5 |

| Consolidated Statement of Comprehensive Income | 9 |

| Consolidated Statement of Financial Position | 10 |

| Company Statement of Financial Position | 11 |

| Consolidated Statement of Changes in Equity | 12 |

| Company Statement of Changes in Equity | 13 |

| Consolidated Statement of Cash Flows | 14 |

| Notes to the Consolidated Statement of Cash Flows | 15 |

| Notes to the Consolidated Financial Statements | 17 |

| The GT4 Group Limited |

Company Information

For The Year Ended 30 June 2025

| DIRECTORS: | T Brown

| M Coll

| S Cumming

| I J Johnstone

| C Lindsay

| REGISTERED OFFICE: | C/O Robb Ferguson Chartered Accountants

| 3rd Floor

| 70 West Regent Street

| Glasgow

| G2 2QZ

| REGISTERED NUMBER: | SC226642 (Scotland)

| INDEPENDENT AUDITORS: | Robb Ferguson

| Chartered Accountants & Statutory Auditors

| Regent Court

| 70 West Regent Street

| Glasgow

| G2 2QZ

| The GT4 Group Limited (Registered number: SC226642) |

Group Strategic Report

For The Year Ended 30 June 2025

The directors present their strategic report of the company and the group for the year ended 30 June 2025.

REVIEW OF BUSINESS

The operating results and financial position of the company can be seen for the period in the annexed financial statements.

The financial statements represent the key financial performance indicators that management utilise to monitor the group. However, given the straightforward nature of the business, the directors are of the opinion that analysis using non-financial KPI's is not necessary for an understanding of the development, performance or position of the business.

The group increased turnover in the year £7.6m (2024 £7m), a 10% increase on the previous year. Gross margin remained broadly similar at 29%, resulting in an EBITDA of £40k, an improvement from an EBITDA loss of £288k in 2024.

In response, the Board has taken further decisive action in reducing headcount further and streamlining operations where the opportunity arises and where required support the business.

The business continues to show high levels of customer satisfaction and employee engagement, and this underscores our resilience and commitment to building a sustainable organisation.

The Board is committed to both immediate recovery and our long-term growth.

We are focused on improving our profit margin by continuing to enhance operational efficiency. Looking forward, we will continue to develop our staff and invest in the latest technology and providing clients with unrivalled quality of service, product and experience. We believe we can continue to strengthen our market position and deliver impactful results for all stakeholders.

Despite the challenges of 2025, we have focused efforts to ensure we establish a solid foundation for recovery, consolidation, sustainable growth and long-term success.

PRINCIPAL RISKS AND UNCERTAINTIES

The environment in which the group operates continues to be challenging. The market remains highly competitive.

USE OF FINANCIAL INSTRUMENTS

Our financial risk management objectives are to ensure sufficient working capital for the company and group. This is achieved through careful management of our financial cash resources, and by obtaining overdraft and loan finance where necessary. Other than this, the use of financial instruments is not material for the assessment of the assets, liabilities, financial position and performance of the company.

RESEARCH AND DEVELOPMENT

We continue to invest in the design and implementation of new technology in order to enhance our production systems and techniques. The directors regard this investment as essential to the continuing success of the group.

EMPLOYEES TRAINING AND DEVELOPMENT

We have consistently sought to recruit and retain the best employees in our marketplace. We will continue to invest in staff, training and development as this is crucial to the skill based to meet our customer's requirement

ON BEHALF OF THE BOARD:

I J Johnstone - Director

19 March 2026

| The GT4 Group Limited (Registered number: SC226642) |

Report of the Directors

For The Year Ended 30 June 2025

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2025.

PRINCIPAL ACTIVITY

The GT4 Group Limited is the parent company of a group whose principal activity is the printing of wet glue labels, pressure sensitive labels, commercial printing and creative services. The trading is carried out and performed in the UK.

DIVIDENDS

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

DIRECTORS

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

T Brown

M Coll

S Cumming

I J Johnstone

C Lindsay

Other changes in directors holding office are as follows:

A Macdonald - resigned 4 June 2025

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.

| The GT4 Group Limited (Registered number: SC226642) |

Report of the Directors

For The Year Ended 30 June 2025

AUDITORS

The auditors, Robb Ferguson, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

I J Johnstone - Director

19 March 2026

Report of the Independent Auditors to the Members of

The GT4 Group Limited

Opinion

We have audited the financial statements of The GT4 Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 loss 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

The GT4 Group 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 three, 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

The GT4 Group 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:

- 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 wider knowledge and experience;

- 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 and FRS 102 (Section 1A).

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of

management and inspecting legal correspondence; and

We assessed the susceptibility of the company'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, including banking controls, to mitigate risks of fraud and non-compliance

with laws and regulations

Audit response to risks identified

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 set out were indicative of potential bias; and

- Investigated the rationale behind significant or unusual transactions.

- Physically verifying fixed assets held ensuring no signs of impairment. Reviewing source documentation ensuring that rights and obligations are held.

- Reviewing post year end receipts ensuring trade debtors are recoverable.

- Reviewing source documentation ensuring creditors are complete and accurate at the balance sheet date.

- Reviewing and recalculating management assumptions in relation to the carrying value of finished goods at the

balance sheet date. Reference to post year end sales, ensuring goods are held in line with FRS 102.

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;

- Reading the minutes of meetings of those charged with governance;

- Enquiring of management as to actual and potential litigation and claims; and

- Reviewing correspondence with HMRC, Companies House and the company's legal advisors.

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

The GT4 Group Limited

Use of our report

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

Graham Cantlay (Senior Statutory Auditor)

for and on behalf of Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

20 March 2026

| The GT4 Group Limited (Registered number: SC226642) |

Consolidated

Statement of Comprehensive

Income

For The Year Ended 30 June 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 7,621,302 |  | 7,026,575 |  |

Cost of sales | 5,419,414 |  | 4,988,838 |  |

GROSS PROFIT | 2,201,888 |  | 2,037,737 |  |

Administrative expenses | 3,302,680 |  | 3,437,162 |  |

OPERATING LOSS | 5 | (1,100,792 | ) | (1,399,425 | ) |

Bad debt write off | 6 | (202,557 | ) | - |  |

Loan write off | 6 | 95,778 |  | - |  |

Legal fees | 6 | (67,832 | ) | - |  |

(1,275,403 | ) | (1,399,425 | ) |

Interest payable and similar expenses | 7 | 456,077 |  | 529,578 |  |

LOSS BEFORE TAXATION | (1,731,480 | ) | (1,929,003 | ) |

Tax on loss | 8 | (394,698 | ) | (136,432 | ) |

LOSS FOR THE FINANCIAL YEAR | (1,336,782 | ) | (1,792,571 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE LOSS FOR THE YEAR | (1,336,782 | ) | (1,792,571 | ) |

Loss attributable to:

Owners of the parent | (1,336,782 | ) | (1,792,571 | ) |

Total comprehensive loss attributable to:

Owners of the parent | (1,336,782 | ) | (1,792,571 | ) |

| The GT4 Group Limited (Registered number: SC226642) |

Consolidated Statement of Financial Position

30 June 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | 417,140 |  | 875,762 |  |

Tangible assets | 11 | 4,424,387 |  | 4,878,421 |  |

Investments | 12 | - |  | - |  |

4,841,527 |  | 5,754,183 |  |

CURRENT ASSETS

Stocks | 13 | 793,675 |  | 912,597 |  |

Debtors | 14 | 1,562,734 |  | 1,508,129 |  |

Cash at bank | 8,166 |  | 11,620 |  |

2,364,575 |  | 2,432,346 |  |

CREDITORS

Amounts falling due within one year | 15 | 8,151,079 |  | 6,515,872 |  |

NET CURRENT LIABILITIES | (5,786,504 | ) | (4,083,526 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (944,977 | ) | 1,670,657 |  |

CREDITORS

Amounts falling due after more than one year | 16 | (1,313,590 | ) | (2,252,744 | ) |

PROVISIONS FOR LIABILITIES | 19 | (172,913 | ) | (512,611 | ) |

NET LIABILITIES | (2,431,480 | ) | (1,094,698 | ) |

CAPITAL AND RESERVES

Called up share capital | 20 | 3,758,161 |  | 3,758,161 |  |

Share premium | 6,800,906 |  | 6,800,906 |  |

Retained earnings | (12,990,547 | ) | (11,653,765 | ) |

(2,431,480 | ) | (1,094,698 | ) |

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2026 and were signed on its behalf by:

I J Johnstone - Director

| The GT4 Group Limited (Registered number: SC226642) |

Company Statement of Financial Position

30 June 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | - |  | - |  |

Investments | 12 | 5,764,594 |  | 7,519,494 |  |

5,764,594 |  | 7,519,494 |  |

CURRENT ASSETS

Debtors | 14 | 165,030 |  | 514,104 |  |

Cash at bank | 15 |  | 412 |  |

165,045 |  | 514,516 |  |

CREDITORS

Amounts falling due within one year | 15 | 7,834,475 |  | 7,850,866 |  |

NET CURRENT LIABILITIES | (7,669,430 | ) | (7,336,350 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (1,904,836 | ) | 183,144 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 3,758,161 |  | 3,758,161 |  |

Share premium | 6,800,906 |  | 6,800,906 |  |

Retained earnings | (12,463,903 | ) | (10,375,923 | ) |

(1,904,836 | ) | 183,144 |  |

Company's loss for the financial year | (2,087,980 | ) | (1,363,656 | ) |

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2026 and were signed on its behalf by:

S Cumming - Director

| The GT4 Group Limited (Registered number: SC226642) |

Consolidated Statement of Changes in Equity

For The Year Ended 30 June 2025

| Called up |

| share |  | Retained |  | Share |  | Other |  | Total

| capital |  | earnings |  | premium |  | reserves |  | equity

£ | £ | £ | £ | £ |

Balance at 1 July 2023 | 3,758,161 |  | (9,977,267 | ) | 6,800,906 |  | 116,073 |  | 697,873 |  |

Changes in equity

Movement in share capital - 5 | - |  | 116,073 |  | - |  | (116,073 | ) | - |  |

Total comprehensive loss | - |  | (1,792,571 | ) | - |  | - |  | (1,792,571 | ) |

Balance at 30 June 2024 | 3,758,161 |  | (11,653,765 | ) | 6,800,906 |  | - |  | (1,094,698 | ) |

Changes in equity

Total comprehensive loss | - |  | (1,336,782 | ) | - |  | - |  | (1,336,782 | ) |

Balance at 30 June 2025 | 3,758,161 |  | (12,990,547 | ) | 6,800,906 |  | - |  | (2,431,480 | ) |

| The GT4 Group Limited (Registered number: SC226642) |

Company Statement of Changes in Equity

For The Year Ended 30 June 2025

| Called up |

| share |  | Retained |  | Share |  | Other |  | Total

| capital |  | earnings |  | premium |  | reserves |  | equity

£ | £ | £ | £ | £ |

Balance at 1 July 2023 | 3,758,161 |  | (9,128,340 | ) | 6,800,906 |  | 116,073 |  | 1,546,800 |  |

Changes in equity

Movement in share capital - 5 | - |  | 116,073 |  | - |  | (116,073 | ) | - |  |

Total comprehensive loss | - |  | (1,363,656 | ) | - |  | - |  | (1,363,656 | ) |

Balance at 30 June 2024 | 3,758,161 |  | (10,375,923 | ) | 6,800,906 |  | - |  | 183,144 |  |

Changes in equity

Total comprehensive loss | - |  | (2,087,980 | ) | - |  | - |  | (2,087,980 | ) |

Balance at 30 June 2025 | 3,758,161 |  | (12,463,903 | ) | 6,800,906 |  | - |  | (1,904,836 | ) |

| The GT4 Group Limited (Registered number: SC226642) |

Consolidated Statement of Cash Flows

For The Year Ended 30 June 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (262,662 | ) | 1,082,266 |  |

Interest paid | (456,077 | ) | (529,578 | ) |

Tax refund | - |  | 82,248 |  |

Net cash from operating activities | (718,739 | ) | 634,936 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (167,809 | ) | (179,340 | ) |

Sale of tangible fixed assets | - |  | 5,932 |  |

Net cash from investing activities | (167,809 | ) | (173,408 | ) |

Cash flows from financing activities

Capital repayments in year | 1 |  | - |  |

Proceeds from borrowings | 1,448,121 |  | 973,051 |  |

Repayment of borrowings | (24,000 | ) | (60,509 | ) |

Repayment of bank loans | (290,102 | ) | (430,426 | ) |

Payment of finance lease obligations | (552,979 | ) | (530,100 | ) |

Net cash from financing activities | 581,041 |  | (47,984 | ) |

(Decrease)/increase in cash and cash equivalents | (305,507 | ) | 413,544 |  |

Cash and cash equivalents at beginning of year | 2 | (759,323 | ) | (1,172,867 | ) |

Cash and cash equivalents at end of year | 2 | (1,064,830 | ) | (759,323 | ) |

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 30 June 2025

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

| 2025 |  | 2024

£ | £ |

| Loss before taxation | (1,731,480 | ) | (1,929,003 | ) |

| Depreciation charges | 621,843 |  | 639,954 |  |

| Profit on disposal of fixed assets | - |  | (5,665 | ) |

| Amortisation charges | 458,622 |  | 458,624 |  |

| Finance costs | 456,077 |  | 529,578 |  |

(194,938 | ) | (306,512 | ) |

| Decrease in stocks | 118,922 |  | 175,929 |  |

| Decrease in trade and other debtors | 395 |  | 759,135 |  |

| (Decrease)/increase in trade and other creditors | (187,041 | ) | 453,714 |  |

| Cash generated from operations | (262,662 | ) | 1,082,266 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Year ended 30 June 2025

| 30.6.25 |  | 1.7.24

£ | £ |

| Cash and cash equivalents | 8,166 |  | 11,620 |  |

| Bank overdrafts | (1,072,996 | ) | (770,943 | ) |

(1,064,830 | ) | (759,323 | ) |

| Year ended 30 June 2024

| 30.6.24 |  | 1.7.23

£ | £ |

| Cash and cash equivalents | 11,620 |  | 33,325 |  |

| Bank overdrafts | (770,943 | ) | (1,206,192 | ) |

(759,323 | ) | (1,172,867 | ) |

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 30 June 2025

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.7.24 | Cash flow | At 30.6.25

£ | £ | £ |

| Net cash |

| Cash at bank | 11,620 |  | (3,454 | ) | 8,166 |  |

| Bank overdrafts | (770,943 | ) | (302,053 | ) | (1,072,996 | ) |

(759,323 | ) | (305,507 | ) | (1,064,830 | ) |

| Debt

| Finance leases | (1,928,933 | ) | 552,978 |  | (1,375,955 | ) |

| Debts falling due within 1 year | (3,156,414 | ) | (1,506,231 | ) | (4,662,645 | ) |

| Debts falling due after 1 year | (912,796 | ) | 348,212 |  | (564,584 | ) |

(5,998,143 | ) | (605,041 | ) | (6,603,184 | ) |

| Total | (6,757,466 | ) | (910,548 | ) | (7,668,014 | ) |

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements

For The Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| The GT4 Group Limited is a private company, limited by shares , registered in Scotland. 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 group financial statements consist of the financial statements of the parent company The GT4 Group Ltd together with all entities controlled by the parent company (its subsidiaries) and the group's share of its interests in joint ventures and associates.

| All financial statements are made up to 30 June 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

| All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

| Going concern

| As at 30 June 2025, the consolidated balances has net liabilities. The directors have prepared the accounts on the going concern basis as they have sought assurances from the majority shareholder that they will not call up their loan advance to the company for a period of 12 months from the date of signing. Furthermore, the directors have confirmed their continued support to the company and group and are confident that the company and group will have adequate funding over the course of the next 12 months from the date of signing as a result of this ongoing support. On this basis, the accounts have been prepared on the going concern basis.

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Critical accounting judgements and key sources of estimation uncertainty

| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Key sources of estimation uncertainty

| The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

| Stock and bad debt provisions

| Stocks are valued at the lower of cost and selling price less costs to complete and sell. This includes, where necessary, provisions for slow moving stocks. Calculations of these provisions requires judgements to be made, including the competitive and economic environment and market trends.

| Calculations made in respect of provisions for doubtful debts requires judgement. This judgement is based on customer base and the economic environment.

| Intangibles and Software

| Intangibles and software is depreciated over its estimated useful life. This judgement and also the assessment of indicators of impairment are based on industry experience.

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transactions will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Goodwill

| Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

| For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Intangible assets

| Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

| Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

| Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Computer Software - straight line over 10 years

| Negative goodwill - over the estimated useful life

| Development costs - over the estimated useful life

| Tangible fixed assets

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

| Short leasehold | - | 2% on cost and in accordance with the property

| Improvements to property | - | 20% on cost, 4% on cost and at varying rates on cost

| Fixed plant and equipment | - | 15% on reducing balance, 10% on reducing balance, 5% on reducing balance, 2.5% on original cost and at varying rates on cost

| Fixtures and fittings | - | 25% on cost and 15% on reducing balance

| Motor vehicles | - | 33% on cost

| Computer equipment | - | 25% on cost and at varying rates on cost

| Investments in associates

| Investments in associate undertakings are recognised at cost less any provision for impairment.

| Stocks

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

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Financial instruments

| Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| 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.

| Business combinations

| In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

| Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can, be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

3. | TURNOVER

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

| An analysis of turnover by class of business for the year ended 30 June 2024 is given below:

£ |

| Sale of goods | 6,979,957 |  |

| Rent and other charges | 46,618 |  |

7,026,575 |  |

| This analysis is not considered to be applicable to the year ended 30 June 2025.

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 1,912,593 |  | 2,037,160 |  |

| Social security costs | 204,525 |  | 215,614 |  |

| Other pension costs | 76,123 |  | 71,622 |  |

2,193,241 |  | 2,324,396 |  |

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

| 2025 |  | 2024

| Administrative & Sales | 12 |  | 12 |  |

| Directors | 6 |  | 6 |  |

| Production | 34 |  | 40 |  |

52 |  | 58 |  |

| The average number of employees by undertakings that were proportionately consolidated during the year was 52 (2024 - 58 ) .

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 391,401 |  | 396,075 |  |

| Directors' pension contributions to money purchase schemes | 29,324 |  | 17,358 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 87,000 |  | 87,000 |  |

| Pension contributions to money purchase schemes | 4,700 |  | 3,917 |  |

5. | OPERATING LOSS

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

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 4,501 |  | 4,032 |  |

| Other operating leases | 178,115 |  | 157,450 |  |

| Depreciation - owned assets | 621,843 |  | 639,923 |  |

| Profit on disposal of fixed assets | - |  | (5,665 | ) |

| Goodwill amortisation | 331,897 |  | 331,899 |  |

| Computer software amortisation | 126,725 |  | 126,725 |  |

| Foreign exchange differences | (600 | ) | (2,173 | ) |

| Auditors remuneration | 31,330 |  | 28,600 |  |

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

6. | EXCEPTIONAL ITEMS

| Debtor balances totalling £202,557 were identified as no longer recoverable due to the company owing the balance being wound up. As such, the amount was written off.

| A loan of £95,778 previously due to a creditor was deemed no longer payable, and therefore the income for this has been recognised within the year.

| Legal fees totalling £67,832 relating to the resignation of an employee were incurred in the year.

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 141,456 |  | 157,976 |  |

| Invoice finance interest | 131,532 |  | 128,626 |  |

| Hire purchase | 183,089 |  | 242,976 |  |

456,077 |  | 529,578 |  |

8. | TAXATION

| Analysis of the tax credit

| The tax credit on the loss for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | (55,000 | ) | (69,975 | ) |

| PY tax adjustment | - |  | 97,037 |  |

| Total current tax | (55,000 | ) | 27,062 |  |

| Deferred tax | (339,698 | ) | (163,494 | ) |

| Tax on loss | (394,698 | ) | (136,432 | ) |

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

8. | TAXATION - continued

| Reconciliation of total tax credit included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Loss before tax | (1,731,480 | ) | (1,929,003 | ) |

| Loss multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | (432,870 | ) | (482,251 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 741 |  | 2,311 |  |

| Utilisation of tax losses | 261,652 |  | 337,147 |  |

| Adjustments to tax charge in respect of previous periods | - |  | 97,036 |  |

| qualifying for tax allowances |

| Research and development tax credit | (55,000 | ) | (70,036 | ) |

| Deferred tax | (339,698 | ) | (163,494 | ) |

| Timing differences | 170,477 |  | 142,855 |  |

| relief |

| Total tax credit | (394,698 | ) | (136,432 | ) |

9. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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

10. | INTANGIBLE FIXED ASSETS

| Group

| Negative |  | Computer |

| Goodwill |  | goodwill |  | software |  | Totals

£ | £ | £ | £ |

| COST

| At 1 July 2024

| and 30 June 2025 | 3,657,027 |  | (253,518 | ) | 1,267,250 |  | 4,670,759 |  |

| AMORTISATION

| At 1 July 2024 | 3,110,752 |  | (253,518 | ) | 937,763 |  | 3,794,997 |  |

| Amortisation for year | 331,897 |  | - |  | 126,725 |  | 458,622 |  |

| At 30 June 2025 | 3,442,649 |  | (253,518 | ) | 1,064,488 |  | 4,253,619 |  |

| NET BOOK VALUE

| At 30 June 2025 | 214,378 |  | - |  | 202,762 |  | 417,140 |  |

| At 30 June 2024 | 546,275 |  | - |  | 329,487 |  | 875,762 |  |

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

11. | TANGIBLE FIXED ASSETS

| Group

| Improvements |  | Fixed

| Short |  | to |  | plant and

| leasehold |  | property |  | equipment

£ | £ | £ |

| COST

| At 1 July 2024 | 15,889 |  | 494,014 |  | 12,409,590 |  |

| Additions | - |  | - |  | 45,006 |  |

| At 30 June 2025 | 15,889 |  | 494,014 |  | 12,454,596 |  |

| DEPRECIATION

| At 1 July 2024 | 2,182 |  | 372,348 |  | 8,344,435 |  |

| Charge for year | 7,857 |  | 28,218 |  | 447,181 |  |

| At 30 June 2025 | 10,039 |  | 400,566 |  | 8,791,616 |  |

| NET BOOK VALUE

| At 30 June 2025 | 5,850 |  | 93,448 |  | 3,662,980 |  |

| At 30 June 2024 | 13,707 |  | 121,666 |  | 4,065,155 |  |

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 July 2024 | 365,198 |  | 33,369 |  | 1,657,420 |  | 14,975,480 |  |

| Additions | - |  | - |  | 122,803 |  | 167,809 |  |

| At 30 June 2025 | 365,198 |  | 33,369 |  | 1,780,223 |  | 15,143,289 |  |

| DEPRECIATION

| At 1 July 2024 | 58,350 |  | 4,266 |  | 1,315,478 |  | 10,097,059 |  |

| Charge for year | 2,869 |  | 8,196 |  | 127,522 |  | 621,843 |  |

| At 30 June 2025 | 61,219 |  | 12,462 |  | 1,443,000 |  | 10,718,902 |  |

| NET BOOK VALUE

| At 30 June 2025 | 303,979 |  | 20,907 |  | 337,223 |  | 4,424,387 |  |

| At 30 June 2024 | 306,848 |  | 29,103 |  | 341,942 |  | 4,878,421 |  |

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

12. | FIXED ASSET INVESTMENTS

| Group

| Shares in

| associates

£ |

| COST

| At 1 July 2024

| and 30 June 2025 | 142,742 |  |

| PROVISIONS

| At 1 July 2024

| and 30 June 2025 | 142,742 |  |

| NET BOOK VALUE

| At 30 June 2025 | - |  |

| At 30 June 2024 | - |  |

| Company

| Shares in

| group

| undertaking

£ |

| COST

| At 1 July 2024

| and 30 June 2025 | 8,849,420 |  |

| PROVISIONS

| At 1 July 2024 | 1,329,926 |  |

| Provision for year | 1,754,900 |  |

| At 30 June 2025 | 3,084,826 |  |

| NET BOOK VALUE

| At 30 June 2025 | 5,764,594 |  |

| At 30 June 2024 | 7,519,494 |  |

| The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

| Subsidiaries

| Gavin Watson Limited

| Registered office: C/O Davidson Chalmers Stewart Llp, 163 Bath Street, Glasgow, Scotland, G2 4SQ

| Nature of business: Printers

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| GT4 Limited

| Registered office: C/O Davidson Chalmers Stewart Llp, 163 Bath Street, Glasgow, Scotland, G2 4SQ

| Nature of business: Creative agency

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

12. | FIXED ASSET INVESTMENTS - continued

| GT4 Software Limited

| Registered office: C/O Davidson Chalmers Stewart Llp, 163 Bath Street, Glasgow, Scotland, G2 4SQ

| Nature of business: Software development

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| TPL Labels Limited

| Registered office: C/O Davidson Chalmers Stewart Llp, 163 Bath Street, Glasgow, Scotland, G2 4SQ

| Nature of business: Printers

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

13. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Raw materials | 610,785 |  | 585,307 |  |

| Work-in-progress | 26,873 |  | 15,414 |  |

| Finished goods | 156,017 |  | 311,876 |  |

793,675 |  | 912,597 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 1,328,727 |  | 1,096,040 |  | - |  | - |  |

| Amounts owed by group undertakings | - |  | - |  | 165,030 |  | 490,604 |  |

| Other debtors | 32,329 |  | 261,712 |  | - |  | 23,500 |  |

| Tax | 173,205 |  | 118,205 |  | - |  | - |  |

| Prepayments and accrued income | 28,473 |  | 32,172 |  | - |  | - |  |

1,562,734 |  | 1,508,129 |  | 165,030 |  | 514,104 |  |

| Close Brothers Group PLC hold security over the sales ledger of Gavin Watson Limited and TPL Labels Limited with respect to their invoice discounting facility.

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 17) | 1,536,645 |  | 1,176,482 |  | - |  | - |  |

| Other loans (see note 17) | 4,198,996 |  | 2,750,875 |  | 4,198,996 |  | 2,750,875 |  |

| Finance leases (see note 18) | 626,949 |  | 588,985 |  | - |  | - |  |

| Trade creditors | 1,243,311 |  | 1,400,850 |  | 8,299 |  | 14,145 |  |

| Amounts owed to group undertakings | - |  | - |  | 3,447,337 |  | 4,896,013 |  |

| Social security and other taxes | 174,224 |  | 168,392 |  | - |  | - |  |

| VAT | 126,246 |  | 154,758 |  | 126,246 |  | 154,758 |  |

| Other creditors | - |  | 24,000 |  | - |  | - |  |

| Accruals and deferred income | 244,708 |  | 251,530 |  | 53,597 |  | 35,075 |  |

8,151,079 |  | 6,515,872 |  | 7,834,475 |  | 7,850,866 |  |

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

| Group |

2025 | 2024 |

£ | £ |

| Bank loans (see note 17) | 564,584 |  | 912,796 |  |

| Finance leases (see note 18) | 749,006 |  | 1,339,948 |  |

1,313,590 |  | 2,252,744 |  |

17. | LOANS

| Included in bank overdrafts is £1,072,996 (2024 - £770,943) relating to the invoice discounting facility of Gavin Watson Limited and TPL Labels Limited.

| £1,028,233 (2024 - £814,965) of Bank loans are represented by a term loan. The bank loan is secured over the assets of the business with a net book value of £4,418,164.

| The entity has access to a revolving credit facility with total drawdown available of £80,000. At the balance sheet date, £80,000 was drawn. This facility has no fixed duration and a director has provided a personal guarantee over this facility.

| The group's bankers and loan providers hold security in the form of a bond and floating charge over the assets of the Group, for which the Group has provided a Corporate Guarantee.

18. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Liabilities held in respect of hire purchase agreements are secured over the assets in which they relate to.

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

18. | LEASING AGREEMENTS - continued

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 246,786 |  | 265,197 |  |

| Between one and five years | 720,450 |  | 815,236 |  |

| In more than five years | 1,020,500 |  | 1,172,500 |  |

1,987,736 |  | 2,252,933 |  |

19. | PROVISIONS FOR LIABILITIES

| Group |

2025 | 2024 |

£ | £ |

| Deferred tax | 172,913 |  | 512,611 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 July 2024 | 512,611 |  |

| Provided during year | (339,698 | ) |

| Balance at 30 June 2025 | 172,913 |  |

20. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

|  | Value |  | £ |  | £ |  |

| 258,158 |  | Ordinary |  | £1 |  | 258,158 |  | 258,158 |  |

| 2,000,000 |  | B shares |  | £1 |  | 2,000,000 |  | 2,000,000 |  |

| 1,500,000 |  | Ordinary non voting |  | £1 |  | 1,500,000 |  | 1,500,000 |  |

| 2 |  | A shares |  | £1 |  | 2 |  | 2 |  |

| 1 |  | Priority |  | £1 |  | 1 |  | 1 |  |

|  | 3,758,161 |  | 3,758,161 |  |

| The Ordinary non voting shares, the B shares and the Priority Share carry no voting rights. All classes of shares, with the exception of the Priority share, are entitled to dividends voted at the discretion of the directors.

| On a return of capital or liquidation, the Priority Share is entitled to £3 million of the distributable funds. 20% of the remaining sums available for distribution will be paid to the holders of the Priority Share. The remainder 80% available, will be distributed at the nominal £1 per share held by the B, Non Voting, A shares shareholders. Any remaining surplus assets are distributed among the holders of the Ordinary shares according to the amounts paid up and held by them.

| The GT4 Group Limited (Registered number: SC226642) |

Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 June 2025

21. | RELATED PARTY DISCLOSURES

| During the year the group made sales of £nil (2024 - £7,578), paid rent of £211,931 (2024 - £201,177) to related parties.

| The group and company has £4,294,773 (2024 - £2,750,875) due to related parties at the balance sheet date.

| The group has £179,056 (2024 - £179,056) due from related parties at the balance sheet date.