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REGISTERED NUMBER: 11013108 (England and Wales)

Ring Containers Limited

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2025

| Ring Containers Limited (Registered number: 11013108) |

Contents of the Consolidated Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 5 |

| Consolidated Income Statement | 9 |

| Consolidated Other Comprehensive Income | 10 |

| Consolidated Balance Sheet | 11 |

| Company Balance Sheet | 12 |

| Consolidated Statement of Changes in Equity | 14 |

| Company Statement of Changes in Equity | 15 |

| Consolidated Cash Flow Statement | 16 |

| Notes to the Consolidated Cash Flow Statement | 17 |

| Notes to the Consolidated Financial Statements | 19 |

| Ring Containers Limited |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | L Lauren

| B D Smith

| REGISTERED OFFICE: | 27 Old Gloucester Street

| London

| WC1N 3AX

| REGISTERED NUMBER: | 11013108 (England and Wales)

| AUDITORS: | S&W Audit

| Northern Assurance Buildings

| Albert Square

| 9/21 Princess Street

| Manchester

| M2 4DN

| Ring Containers Limited (Registered number: 11013108) |

Group Strategic Report

for the Year Ended 31 December 2025

The directors present their strategic report of the company and the group for the year ended 31 December 2025.

REVIEW OF BUSINESS

Consolidated turnover (England & Canada) increased by £799,018 between 2024 and 2025. Sales volume for HDPE containers (food service edible oil) increased from nominal customer share gains and positive trends in several markets. Selling prices for HDPE products increased between 2024 and 2025 in conjunction with changes to raw material costs for resin and corrugate.

The Group continues to build on its strong market position and was awarded or re-secured the key customers targeted within the business plan for the year.

The results for the year and financial position of the Group are as shown in the annexed financial statements.

PRINCIPAL RISKS AND UNCERTAINTIES

The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies throughout the Group are subject to board approval and ongoing review by management. Compliance with regulation, legal and ethical standards is a high priority for the Group and the compliance team and finance department take on an important oversight role in this regard.

The Group does not have any long-term debt financing obligations and utilizes cash flow from normal operations to support ongoing operating activities. The Group conducts business in countries with stable economies and limited fluctuation in currency notes.

KEY PERFORMANCE INDICATORS ('KPIS')

The Group’s key financial and other performance indicators during the year were as follows:

| 2025 |  | 2024 |

Turnover |  | 25,206,574 |  | 24,407,556 |

Gross Profit Margin |  | 48.8% |  | 48.0% |

Profit before tax |  | 8,127,332 |  | 7,320,446 |

ON BEHALF OF THE BOARD:

L Lauren - Director

31 March 2026

| Ring Containers Limited (Registered number: 11013108) |

Report of the Directors

for the Year Ended 31 December 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of manufacturing of storage containers.

DIVIDENDS

A interim dividend of £51,004 was paid on 22 August 2025. A second interim dividend of 2025 of £126,489 per share was paid on 25 August 2025. The directors recommend that no final dividend be paid.

DIRECTORS

B D Smith has held office during the whole of the period from 1 January 2025 to the date of this report.

Other changes in directors holding office are as follows:

F Geyer - resigned 9 December 2025

L Lauren - appointed 9 December 2025

GOING CONCERN

The directors have no evidence that the company and the group will not be able to continue trading in the future and have no reason to believe that it will need to cease trading. Therefore, we confirm that there is no going concern for the company and the group. The budget and forecast has been provided for 2026. There is no evidence that would suggest the company and the group will not continue to operate for at least 12 months after the date of approval of the accounts.

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.

| Ring Containers Limited (Registered number: 11013108) |

Report of the Directors

for the Year Ended 31 December 2025

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

L Lauren - Director

31 March 2026

Report of the Independent Auditors to the Members of

Ring Containers Limited

Opinion

We have audited the financial statements of Ring Containers Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2025 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.

Report of the Independent Auditors to the Members of

Ring Containers Limited

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.

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

Ring Containers 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design

procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of

irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,

including fraud, is detailed below:

We obtained a general understanding of the company's legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity's policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the company's industry and regulations.

We understand that the company complies with the framework through outsourcing accounts preparation and tax compliance to external experts.

In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the company's ability to conduct its business, and where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the company:

- The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements; and

- UK taxation law.

The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity's financial statements to material misstatement including how fraud might occur. The areas identified in this discussion were:

- manipulation of financial statements via fraudulent journal entries; and

- manipulation of revenue recognition to achieve desired results.

The procedures we carried out to gain evidence in the above areas included:

- Identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud.

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- Identifying and testing journal entries using data analytic software to adopt a risk-based approach to enable testing of the perceived riskier transactions;

- Testing the sales transactions around the year-end to ensure that they have been recognised in the correct period, test trade debtors for existence through third party confirmations and reviewing the balances for recoverability; and

- Assessing the extent of compliance with relevant laws and regulations.

Overall, the senior statutory auditor was satisfied the engagement team collectively had the appropriate competence and capabilities to identify or recognise irregularities.

Report of the Independent Auditors to the Members of

Ring Containers Limited

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

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

Antony Sassen FCA (Senior Statutory Auditor)

for and on behalf of S&W Audit

Northern Assurance Buildings

Albert Square

9/21 Princess Street

Manchester

M2 4DN

1 April 2026

| Ring Containers Limited (Registered number: 11013108) |

Consolidated

Income Statement

for the Year Ended 31 December 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

TURNOVER | 3 | 25,206,574 |  | 24,407,556 |  |

Cost of sales | 12,904,128 |  | 12,677,179 |  |

GROSS PROFIT | 12,302,446 |  | 11,730,377 |  |

Distribution costs | 852,061 |  | 824,411 |  |

Administrative expenses | 3,440,776 |  | 3,866,702 |  |

|  |  | 4,292,837 |  |  |  |  | 4,691,113 |  |

8,009,609 |  | 7,039,264 |  |

Other operating income | 10,594 |  | - |  |

OPERATING PROFIT | 5 | 8,020,203 |  | 7,039,264 |  |

Interest receivable and similar income | 107,129 |  | 281,182 |  |

PROFIT BEFORE TAXATION | 8,127,332 |  | 7,320,446 |  |

Tax on profit | 6 | 2,000,467 |  | 1,798,685 |  |

PROFIT FOR THE FINANCIAL YEAR | 6,126,865 |  | 5,521,761 |  |

Profit attributable to:

Owners of the parent | 6,126,865 |  | 5,521,761 |  |

| Ring Containers Limited (Registered number: 11013108) |

Consolidated

Other Comprehensive Income

for the Year Ended 31 December 2025

| 31.12.25 |  | 31.12.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 6,126,865 |  | 5,521,761 |  |

OTHER COMPREHENSIVE INCOME |

Gain/(Loss) on translation of subsidiary | (292,544 | ) | (837,928 | ) |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | (292,544 | ) | (837,928 | ) |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 5,834,321 |  | 4,683,833 |  |

Total comprehensive income attributable to:

Owners of the parent | 5,834,321 |  | 4,683,833 |  |

| Ring Containers Limited (Registered number: 11013108) |

Consolidated Balance Sheet

31 December 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 1,771,811 |  | 1,770,269 |  |

Investments | 10 | - |  | - |  |

1,771,811 |  | 1,770,269 |  |

CURRENT ASSETS

Stocks | 11 | 654,027 |  | 730,157 |  |

Debtors | 12 | 6,677,492 |  | 5,611,519 |  |

Cash at bank and in hand | 7,643,149 |  | 19,393,447 |  |

14,974,668 |  | 25,735,123 |  |

CREDITORS

Amounts falling due within one year | 13 | 3,570,813 |  | 2,439,013 |  |

NET CURRENT ASSETS | 11,403,855 |  | 23,296,110 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 13,175,666 |  | 25,066,379 |  |

PROVISIONS FOR LIABILITIES | 15 | 315,692 |  | 291,419 |  |

NET ASSETS | 12,859,974 |  | 24,774,960 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 100 |  | 100 |  |

Translation reserve | 17 | (1,410,597 | ) | (1,118,053 | ) |

Other reserves | 17 | 13,072,742 |  | 13,072,742 |  |

Retained earnings | 17 | 1,197,729 |  | 12,820,171 |  |

SHAREHOLDERS' FUNDS | 12,859,974 |  | 24,774,960 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2026 and were signed on its behalf by:

L Lauren - Director

| Ring Containers Limited (Registered number: 11013108) |

Company Balance Sheet

31 December 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 665,003 |  | 597,518 |  |

Investments | 10 | 100 |  | 100 |  |

665,103 |  | 597,618 |  |

CURRENT ASSETS

Stocks | 11 | 369,170 |  | 369,952 |  |

Debtors | 12 | 5,293,019 |  | 4,975,511 |  |

Cash at bank and in hand | 4,365,994 |  | 6,474,841 |  |

10,028,183 |  | 11,820,304 |  |

CREDITORS

Amounts falling due within one year | 13 | 1,422,227 |  | 1,020,321 |  |

NET CURRENT ASSETS | 8,605,956 |  | 10,799,983 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 9,271,059 |  | 11,397,601 |  |

PROVISIONS FOR LIABILITIES | 15 | 60,942 |  | 49,451 |  |

NET ASSETS | 9,210,117 |  | 11,348,150 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 100 |  | 100 |  |

Other reserves | 17 | 5,896,790 |  | 5,896,790 |  |

Retained earnings | 17 | 3,313,227 |  | 5,451,260 |  |

SHAREHOLDERS' FUNDS | 9,210,117 |  | 11,348,150 |  |

Company's profit for the financial year | 15,611,274 |  | 1,795,689 |  |

| Ring Containers Limited (Registered number: 11013108) |

Company Balance Sheet - continued

31 December 2025

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2026 and were signed on its behalf by:

L Lauren - Director

| Ring Containers Limited (Registered number: 11013108) |

Consolidated Statement of Changes in Equity

for the Year Ended 31 December 2025

| Called up |

| share |  | Retained |  | Translation |  | Other |  | Total

| capital |  | earnings |  | reserve |  | reserves |  | equity

£ | £ | £ | £ | £ |

Balance at 1 January 2024 | 100 |  | 7,298,410 |  | (280,125 | ) | 13,072,742 |  | 20,091,127 |  |

Changes in equity

Total comprehensive income | - |  | 5,521,761 |  | (837,928 | ) | - |  | 4,683,833 |  |

Balance at 31 December 2024 | 100 |  | 12,820,171 |  | (1,118,053 | ) | 13,072,742 |  | 24,774,960 |  |

Changes in equity

Dividends | - |  | (17,749,307 | ) | - |  | - |  | (17,749,307 | ) |

Total comprehensive income | - |  | 6,126,865 |  | (292,544 | ) | - |  | 5,834,321 |  |

Balance at 31 December 2025 | 100 |  | 1,197,729 |  | (1,410,597 | ) | 13,072,742 |  | 12,859,974 |  |

| Ring Containers Limited (Registered number: 11013108) |

Company Statement of Changes in Equity

for the Year Ended 31 December 2025

| Called up |

| share |  | Retained |  | Other |  | Total

| capital |  | earnings |  | reserves |  | equity

£ | £ | £ | £ |

Balance at 1 January 2024 | 100 |  | 3,655,571 |  | 5,896,790 |  | 9,552,461 |  |

Changes in equity

Profit for the year | - |  | 1,795,689 |  | - |  | 1,795,689 |  |

Total comprehensive income | - |  | 1,795,689 |  | - |  | 1,795,689 |  |

Total transactions with owners, recognised directly in equity | - |  | - |  | - |  | - |  |

Balance at 31 December 2024 | 100 |  | 5,451,260 |  | 5,896,790 |  | 11,348,150 |  |

Changes in equity

Profit for the year | - |  | 15,611,274 |  | - |  | 15,611,274 |  |

Total comprehensive income | - |  | 15,611,274 |  | - |  | 15,611,274 |  |

Dividends | - |  | (17,749,307 | ) | - |  | (17,749,307 | ) |

Total transactions with owners, recognised directly in equity | - |  | (17,749,307 | ) | - |  | (17,749,307 | ) |

Balance at 31 December 2025 | 100 |  | 3,313,227 |  | 5,896,790 |  | 9,210,117 |  |

| Ring Containers Limited (Registered number: 11013108) |

Consolidated Cash Flow Statement

for the Year Ended 31 December 2025

| 31.12.25 |  | 31.12.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 8,428,935 |  | 8,023,415 |  |

Tax paid | (1,849,224 | ) | (1,767,531 | ) |

Net cash from operating activities | 6,579,711 |  | 6,255,884 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (395,287 | ) | (364,730 | ) |

Sale of tangible fixed assets | - |  | 5,589 |  |

Interest received | 107,129 |  | 281,182 |  |

Net cash from investing activities | (288,158 | ) | (77,959 | ) |

Cash flows from financing activities

Equity dividends paid | (17,749,307 | ) | - |  |

Net cash from financing activities | (17,749,307 | ) | - |  |

(Decrease)/increase in cash and cash equivalents | (11,457,754 | ) | 6,177,925 |  |

Cash and cash equivalents at beginning of year | 2 | 19,393,447 |  | 14,053,450 |  |

Effect of foreign exchange rate changes | (292,544 | ) | (837,928 | ) |

Cash and cash equivalents at end of year | 2 | 7,643,149 |  | 19,393,447 |  |

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 December 2025

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Profit before taxation | 8,127,332 |  | 7,320,446 |  |

| Depreciation charges | 356,942 |  | 303,889 |  |

| Loss on disposal of fixed assets | - |  | 6,974 |  |

| FX gain / loss | 36,803 |  | 146,368 |  |

| Finance income | (107,129 | ) | (281,182 | ) |

8,413,948 |  | 7,496,495 |  |

| Decrease/(increase) in stocks | 76,130 |  | (152,378 | ) |

| (Increase)/decrease in trade and other debtors | (1,065,973 | ) | 367,790 |  |

| Increase in trade and other creditors | 1,004,830 |  | 311,508 |  |

| Cash generated from operations | 8,428,935 |  | 8,023,415 |  |

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 2025

| 31.12.25 |  | 1.1.25

£ | £ |

| Cash and cash equivalents | 7,643,149 |  | 19,393,447 |  |

| Year ended 31 December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 19,393,447 |  | 14,053,450 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.1.25 | Cash flow | At 31.12.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 19,393,447 |  | (11,750,298 | ) | 7,643,149 |  |

19,393,447 |  | (11,750,298 | ) | 7,643,149 |  |

| Total | 19,393,447 |  | (11,750,298 | ) | 7,643,149 |  |

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 December 2025

4. | PRIOR YEAR ADJUSTMENTS

| The comparative figures within the Cash Flow statement have been restated. The reclassifications have been made to correct incorrect classifications of cash flows in the prior year comparative figures.

| There is no impact on the amounts presented in the Consolidated Balance Sheet, Company Balance Sheet, Consolidated Income Statement or Consolidated Other Comprehensive Income statement.

| The following line items have been reclassified:

| The balance noted within cash from financing activities as new intercompany loans of £233,648 is now classified within operating cashflows.

| The foreign exchange gain initially classified within operating activities of £636,051 is now presented within effects of foreign exchange rate changes for the translation of the subsidiary in to Sterling (£) with a residual amount of £146,368.

| There has also been an adjustment to the tax paid amount of £44,419.

| There has also been a reduction to the depreciation figure within the cash from operating activities of £5,596.

| There has also been an increase to the trade and other debtor amount of £16,686.

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Ring Containers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

| The principal place of business is: 1 Southern Cross, London Road, Swanley, BR8 8DE.

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.

| The directors have no evidence that the company and the group will not be able to continue trading in the future and have no reason to believe that it will need to cease trading. Therefore, we confirm that there is no going concern for the company and the group. The budget and forecast has been provided for 2026. There is no evidence that would suggest the company and the group will not continue to operate for at least 12 months after the date of approval of the accounts.

| Basis of consolidation

| The accounts have been consolidated using the acquisition method.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Sales are recognised when substantively all the risks and rewards in connection with the goods have been passed to the buyer.

| Tangible fixed assets

| Assets under construction

| Assets under construction relate to all costs of constructing the asset until it is completed and ready for use and is recognised at cost less impairment, if any. Depreciation will be charged once the asset is ready for use over its estimated useful life.

| Other assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life

| Plant and machinery - 25% on reducing balance

| Plant and machinery (Subsidiary) - between 3.5 years to 11 years (depending on sub-class of asset)

| Land and buildings - 25% on reducing balance

| Leasehold improvements - 25% on reducing balance

| Leasehold improvements (Subsidiary) - over 39 years

| Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Stocks

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

| Financial instruments

| The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and amounts owed by and to group undertakings.

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised at cost using the effective interest method. Debt instruments are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid of received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at market rate, the financial asset of liability is measured initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

| Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| 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.

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 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 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 included as interest payable and similar items and are taken into account in arriving at the profit before taxation.

| Upon consolidation, assets and liabilities in foreign subsidiaries are translated into sterling at the rates of exchange ruling at the balance sheet date. Profit & loss items in the foreign subsidiary are translated into sterling at the average rate for the relevant period. Exchange differences arising from translation of foreign subsidiaries are recognised in other comprehensive income.

| 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.

| Investment in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

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:

| 31.12.25 |  | 31.12.24

£ | £ |

| United Kingdom | 9,217,388 |  | 9,069,880 |  |

| Europe | 2,912,383 |  | 2,662,559 |  |

| North America | 13,076,803 |  | 12,675,117 |  |

25,206,574 |  | 24,407,556 |  |

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

4. | EMPLOYEES AND DIRECTORS

| 31.12.25 |  | 31.12.24

£ | £ |

| Wages and salaries | 1,711,498 |  | 1,739,573 |  |

| Social security costs | 152,140 |  | 128,235 |  |

| Other pension costs | 121,368 |  | 48,496 |  |

1,985,006 |  | 1,916,304 |  |

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

| 31.12.25 |  | 31.12.24

| Human Resources | 2 |  | 2 |  |

| Maintenance | 4 |  | 4 |  |

| Production | 25 |  | 24 |  |

| Warehouse | 6 |  | 6 |  |

37 |  | 36 |  |

| 31.12.25 |  | 31.12.24

£ | £ |

| Directors' remuneration | - |  | - |  |

| During the period, all directors were remunerated through another group company. No amounts were paid directly by the group.

5. | OPERATING PROFIT

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Depreciation - owned assets | 356,942 |  | 303,889 |  |

| Loss on disposal of fixed assets | - |  | 6,974 |  |

| Foreign exchange differences | (191,452 | ) | 238,808 |  |

| Auditors remuneration | 34,250 |  | 34,000 |  |

| Rent | 1,154,803 |  | 1,168,839 |  |

| The 2024 figure for auditors remuneration has been increased from £18,108 to £34,000 as a result of a prior year reclassification. There is no impact on the amounts presented in the Consolidated Balance Sheet, Company Balance Sheet, Consolidated Income Statement or Consolidated Other Comprehensive Income statement.

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

6. | TAXATION

| Analysis of the tax charge

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Current tax:

| UK corporation tax | 829,626 |  | 635,957 |  |

| Foreign tax charges | 1,158,059 |  | 1,161,081 |  |

| Total current tax | 1,987,685 |  | 1,797,038 |  |

| Deferred tax | 12,782 |  | 1,647 |  |

| Tax on profit | 2,000,467 |  | 1,798,685 |  |

| UK corporation tax has been charged at 25 % .

| 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:

| 31.12.25 |  | 31.12.24

£ | £ |

| Profit before tax | 8,127,332 |  | 7,320,446 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 2,031,833 |  | 1,830,112 |  |

| Effects of:

| Expenses not deductible for tax purposes | 48,009 |  | 24,202 |  |

| Depreciation in excess of capital allowances | 32,477 |  | 13,711 |  |

| Adjustment re foreign tax rates | (108,657 | ) | (68,928 | ) |

| Deferred tax | (3,195 | ) | (412 | ) |

| Total tax charge | 2,000,467 |  | 1,798,685 |  |

| Tax effects relating to effects of other comprehensive income |

| 31.12.25 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Gain/(Loss) on translation of subsidiary | (292,544 | ) | - |  | (292,544 | ) |

| 31.12.24 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Gain/(Loss) on translation of subsidiary | (837,928 | ) | - |  | (837,928 | ) |

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

7. | INDIVIDUAL INCOME STATEMENT

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

8. | DIVIDENDS

| 31.12.25 |  | 31.12.24

£ | £ |

| Ordinary shares of £1 each

| Interim | 17,749,307 |  | - |  |

9. | TANGIBLE FIXED ASSETS

| Group

| Short |  | Plant and |

| leasehold |  | machinery |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 274,601 |  | 3,805,700 |  | 4,080,301 |  |

| Additions | 13,529 |  | 381,758 |  | 395,287 |  |

| Exchange differences | (4,628 | ) | (51,790 | ) | (56,418 | ) |

| At 31 December 2025 | 283,502 |  | 4,135,668 |  | 4,419,170 |  |

| DEPRECIATION

| At 1 January 2025 | 89,166 |  | 2,220,866 |  | 2,310,032 |  |

| Charge for year | 11,769 |  | 345,173 |  | 356,942 |  |

| Exchange differences | (832 | ) | (18,783 | ) | (19,615 | ) |

| At 31 December 2025 | 100,103 |  | 2,547,256 |  | 2,647,359 |  |

| NET BOOK VALUE

| At 31 December 2025 | 183,399 |  | 1,588,412 |  | 1,771,811 |  |

| At 31 December 2024 | 185,435 |  | 1,584,834 |  | 1,770,269 |  |

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

9. | TANGIBLE FIXED ASSETS - continued

| Company

| Short |  | Plant and |

| leasehold |  | machinery |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 62,325 |  | 1,945,628 |  | 2,007,953 |  |

| Additions | 13,529 |  | 237,825 |  | 251,354 |  |

| At 31 December 2025 | 75,854 |  | 2,183,453 |  | 2,259,307 |  |

| DEPRECIATION

| At 1 January 2025 | 50,973 |  | 1,359,462 |  | 1,410,435 |  |

| Charge for year | 6,215 |  | 177,654 |  | 183,869 |  |

| At 31 December 2025 | 57,188 |  | 1,537,116 |  | 1,594,304 |  |

| NET BOOK VALUE

| At 31 December 2025 | 18,666 |  | 646,337 |  | 665,003 |  |

| At 31 December 2024 | 11,352 |  | 586,166 |  | 597,518 |  |

| Included within plant and machinery additions is £237,828 (2024: £112,772) of costs incurred for the asset under construction.

10. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakin

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 100 |  |

| NET BOOK VALUE

| At 31 December 2025 | 100 |  |

| At 31 December 2024 | 100 |  |

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

10. | FIXED ASSET INVESTMENTS - continued

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

| Subsidiary

| Ring Containers Canada ULC

| Registered office: 1820 31st North, Lethbridge, T1H 5K8

| Nature of business: Manufacturing of storage containers.

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 3,901,134 |  | 13,668,873 |  |

| Profit for the year | 3,953,275 |  | 3,727,719 |  |

11. | STOCKS

| Group |  | Company |

| 31.12.25 |  | 31.12.24 |  | 31.12.25 |  | 31.12.24 |

£ | £ | £ | £ |

| Stocks | 654,027 |  | 730,157 |  | 369,170 |  | 369,952 |  |

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

| Group |  | Company |

| 31.12.25 |  | 31.12.24 |  | 31.12.25 |  | 31.12.24 |

£ | £ | £ | £ |

| Trade debtors | 2,606,908 |  | 2,825,754 |  | 1,323,275 |  | 1,584,694 |  |

| Amounts owed by group undertakings | 3,604,177 |  | 2,342,305 |  | 3,651,927 |  | 3,064,845 |  |

| Other debtors | 126,548 |  | 101,543 |  | 200 |  | 3,379 |  |

| Prepayments and accrued income | 339,859 |  | 341,917 |  | 317,617 |  | 322,593 |  |

6,677,492 |  | 5,611,519 |  | 5,293,019 |  | 4,975,511 |  |

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

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

| Group |  | Company |

| 31.12.25 |  | 31.12.24 |  | 31.12.25 |  | 31.12.24 |

£ | £ | £ | £ |

| Trade creditors | 914,588 |  | 1,468,071 |  | 637,445 |  | 511,996 |  |

| Amounts owed to group undertakings | 411,646 |  | 146,299 |  | 233,737 |  | 146,299 |  |

| Tax | 336,694 |  | 209,724 |  | 224,999 |  | 85,000 |  |

| Social security and other taxes | 36,150 |  | 24,527 |  | 36,150 |  | 24,527 |  |

| VAT | 41,810 |  | 22,747 |  | 41,810 |  | 22,747 |  |

| Other creditors | 145,210 |  | 82,148 |  | 10,979 |  | 11,146 |  |

| Accruals and deferred income | 1,684,715 |  | 485,497 |  | 237,107 |  | 218,606 |  |

3,570,813 |  | 2,439,013 |  | 1,422,227 |  | 1,020,321 |  |

14. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Non-cancellable |

| operating leases |

| 31.12.25 |  | 31.12.24

£ | £ |

| Within one year | 1,021,335 |  | 1,030,597 |  |

| Between one and five years | 2,926,030 |  | 3,268,095 |  |

3,947,365 |  | 4,298,692 |  |

| Company

| Non-cancellable |

| operating leases |

| 31.12.25 |  | 31.12.24

£ | £ |

| Within one year | 723,840 |  | 730,879 |  |

| Between one and five years | 2,171,514 |  | 2,192,636 |  |

2,895,354 |  | 2,923,515 |  |

15. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

| 31.12.25 |  | 31.12.24 |  | 31.12.25 |  | 31.12.24 |

£ | £ | £ | £ |

| Deferred tax | 315,692 |  | 291,419 |  | 60,942 |  | 49,451 |  |

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

15. | PROVISIONS FOR LIABILITIES - continued

| Group

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 291,419 |  |

| Accelerated capital allowances | 24,273 |  |

| Balance at 31 December 2025 | 315,692 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 49,451 |  |

| Accelerated capital allowances | 11,491 |  |

| Balance at 31 December 2025 | 60,942 |  |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.25 |  | 31.12.24

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

17. | RESERVES

| Group

| Retained |  | Translation |  | Other |

| earnings |  | reserve |  | reserves |  | Totals

£ | £ | £ | £ |

| At 1 January 2025 | 12,820,171 |  | (1,118,053 | ) | 13,072,742 |  | 24,774,860 |  |

| Profit for the year | 6,126,865 |  | 6,126,865 |  |

| Dividends | (17,749,307 | ) | (17,749,307 | ) |

| Translation reserve | - |  | (292,544 | ) | - |  | (292,544 | ) |

| At 31 December 2025 | 1,197,729 |  | (1,410,597 | ) | 13,072,742 |  | 12,859,874 |  |

| Ring Containers Limited (Registered number: 11013108) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

17. | RESERVES - continued

| Company

| Retained |  | Other |

| earnings |  | reserves |  | Totals

£ | £ | £ |

| At 1 January 2025 | 5,451,260 |  | 5,896,790 |  | 11,348,050 |  |

| Profit for the year | 15,611,274 |  | 15,611,274 |  |

| Dividends | (17,749,307 | ) | (17,749,307 | ) |

| At 31 December 2025 | 3,313,227 |  | 5,896,790 |  | 9,210,017 |  |

| Translation reserves relate to foreign exchange differences arising from the translation of the Group's foreign operations from their functional currency into Ring Container Limited's functional currency.

| Other reserves relate to capital contributions made by shareholders. These are loans given by equity holders which are not repayable until dissolution.

18. | RELATED PARTY DISCLOSURES

| During the year, the group had management charges of £549,062 (2024: £561,423) with a related party. There were also transfers of £220,336 (2024: £80,425) and transfers in £47,750 (2024: £22,000) with related parties.

| The balances at year end with related parties are disclosed in note 13 and note 14 as amounts owed by group undertakings (note 13) and amounts due to group undertakings (note 14).

| The group are related to the related parties through being part of the same wider group.

19. | IMMEDIATE CONTROLLING PARTY

| As at the date of approval of these financial statements, the immediate controlling party by virtue of its shareholding is

| Ring Container Technologies Group LLC

| State of Delaware

| 1209 Orange Street

| Wilmington

| Delaware 19801

| Incorporated in the USA.