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REGISTERED NUMBER: 13609079 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

FOR

DBS (FALMOUTH) LTD

DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

| Page |

Statement of Financial Position | 1 |

Notes to the Financial Statements | 2 |  | to |  | 5

DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

STATEMENT OF FINANCIAL POSITION

31 JULY 2025

| 31.7.25 |  | 31.7.24

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 4,963 |  | - |  |

CURRENT ASSETS

Debtors | 5 | 2,844,881 |  | 3,326,770 |  |

Cash at bank | 289,933 |  | 140,982 |  |

3,134,814 |  | 3,467,752 |  |

CREDITORS

Amounts falling due within one year | 6 | (2,162,267 | ) | (2,980,098 | ) |

NET CURRENT ASSETS | 972,547 |  | 487,654 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 977,510 |  | 487,654 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | 977,509 |  | 487,653 |  |

977,510 |  | 487,654 |  |

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2026 and were signed by:

J W Beaumont - Director

DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1. | STATUTORY INFORMATION

| DBS (Falmouth) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 13609079

| Registered office: | 6 Elizabeth Court

| Higher Lane

| Plymouth

| Devon

| PL1 2AN

| The principal activity of the company is that of other education.

2. | ACCOUNTING POLICIES

| BASIS OF PREPARING THE FINANCIAL STATEMENTS

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

| The financial statements are prepared in sterling, which is the functional currency of the entity.

| GOING CONCERN

| The financial statements have been prepared on the going concern basis which assumes that the company will continue to trade for the foreseeable future, and continue to receive the support from the fellow group companies.

| SIGNIFICANT JUDGEMENTS AND ESTIMATES

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| There are no key judgements or key sources of estimation uncertainty.

| REVENUE RECOGNITION

| Turnover comprises the fair value of the consideration received or receivable for the sale of music educations services to customers in the ordinary course of the company's activities. Turnover is shown net of valued added tax, rebates and discounts.

| Revenue is recognised as the course is delivered.

| TANGIBLE FIXED ASSETS

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

| Plant and machinery etc | - | 20% straight line

| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

2. | ACCOUNTING POLICIES - continued

| FINANCIAL INSTRUMENTS

| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Debt instruments are subsequently measured at amortised cost.

| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

| TAXATION

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 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.

3. | EMPLOYEES AND DIRECTORS

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

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

£ |

| COST

| Additions | 5,728 |  |

| At 31 July 2025 | 5,728 |  |

| DEPRECIATION

| Charge for year | 765 |  |

| At 31 July 2025 | 765 |  |

| NET BOOK VALUE

| At 31 July 2025 | 4,963 |  |

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

| 31.7.25 |  | 31.7.24

£ | £ |

| Trade debtors | - |  | 1,921 |  |

| Amounts owed by group undertakings | 2,738,111 |  | 3,237,367 |  |

| VAT | 45 |  | - |  |

| Prepayments and accrued income | 106,725 |  | 87,482 |  |

2,844,881 |  | 3,326,770 |  |

| Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

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

| 31.7.25 |  | 31.7.24

£ | £ |

| Trade creditors | 1,910 |  | 2,877 |  |

| Amounts owed to group undertakings | 2,116,624 |  | 2,977,128 |  |

| VAT | - |  | 93 |  |

| Other creditors | 43,733 |  | - |  |

2,162,267 |  | 2,980,098 |  |

| Amounts owed to group undertakings are interest free, unsecured and repayable on demand.

7. | SECURED DEBTS

| Fixed and floating charges exist dated 28 June 2022 and 9 September 2025 over all the property or undertaking of the company. This charge is with Santander UK PLC.

8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Michelle Coates (Senior Statutory Auditor)

| for and on behalf of Sumer Auditco Limited

9. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. | POST BALANCE SHEET EVENTS

| There were no material events up to the date of approval of the financial statements by the board.

11. | ULTIMATE CONTROLLING PARTY

| The parent company is DBS Music Holdings, a company incorporated in England and Wales. The results of this company are consolidated in to the group accounts of Project Alpha Topco Limited.

| The ultimate parent company is Project Alpha Topco Limited a company registered in England. The registered office of the company is C/O DPC, Stone House, 55 Stone Road Business Park, Stoke-on-Trent, Staffordshire, ST4 6SR.

12. | GOING CONCERN

| The accounts have been prepared on the going concern basis which assumes that the company will continue to trade for the foreseeable future, and continue to receive support from the fellow group companies.