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REGISTERED NUMBER: 11391330 (England and Wales)

ICG-Longbow Partners Development

Investments B Limited

Financial Statements

for the Year Ended 31 May 2025

| ICG-Longbow Partners Development |

| Investments B Limited (Registered number: 11391330) |

Contents of the Financial Statements

for the year ended 31 May 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| ICG-Longbow Partners Development |

| Investments B Limited |

Company Information

for the year ended 31 May 2025

| Directors: | G S Troll

| M R Wheeler

| G P Minson

| M J Torode

| Registered office: | Procession House

| 55 Ludgate Hill

| London

| EC4M 7JW

| Registered number: | 11391330 (England and Wales)

| ICG-Longbow Partners Development |

| Investments B Limited (Registered number: 11391330) |

Balance Sheet

31 May 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

Fixed assets

Investments | 4 | 87,500 |  | 87,500 |  |

Current assets

Debtors | 5 | 70,000 |  | 70,000 |  |

Creditors

Amounts falling due within one year | 6 | 91,100 |  | 91,100 |  |

Net current liabilities | (21,100 | ) | (21,100 | ) |

Total assets less current liabilities | 66,400 |  | 66,400 |  |

Capital and reserves

Called up share capital | 7 | 70,000 |  | 70,000 |  |

Retained earnings | 8 | (3,600 | ) | (3,600 | ) |

Shareholders' funds | 66,400 |  | 66,400 |  |

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2026 and were signed on its behalf by:

G P Minson - Director

| ICG-Longbow Partners Development |

| Investments B Limited (Registered number: 11391330) |

Notes to the Financial Statements

for the year ended 31 May 2025

1. | Statutory information

| ICG-Longbow Partners Development Investments B Limited (the "Company") is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.

2. | Accounting policies

| Basis of preparing the financial statements

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

| The accounts are presented in Sterling (£).

| Amounts in these financial statements are rounded to the nearest £.

| Related party exemption

| 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.

| Investment income

| Investment income is recognised in the period in which it relates when the Company is entitled to the risk and rewards generated from its investments

| Significant judgements and estimates

| In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

| 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, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

| Critical judgements in applying the Company's accounting policies

| The critical judgement that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

| (i) Assessing indicators and impairment

| In assessing whether there have been any indicators or impairment assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators or impairments identified during the current financial period.

| Key sources of estimation uncertainty

| The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next

| financial year are discussed below.

| (i) Recoverability of receivables

| The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the aging of the receivables, past experience of recoverability, and the credit profile of individual or groups of customers are made, and are based on historical experience and other factors that are considered to be applicable.

| ICG-Longbow Partners Development |

| Investments B Limited (Registered number: 11391330) |

Notes to the Financial Statements - continued

for the year ended 31 May 2025

2. | Accounting policies - continued

| Investments

| Fixed asset investments are stated at cost less provision for diminution in value.

| Financial instruments

| Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, trade and other payables, loans and borrowings. The Company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full.

| Financial assets / liabilities - classified as basic financial instruments

| (i) Cash and cash equivalents

| This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

| (ii) Trade and other receivables

| Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

| At the end of each reporting period, the Company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

| (iii) Trade and other payables and loans and borrowings

| Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method.

| Going concern

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

| The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

| Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities.

| In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

| The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

3. | Employees and directors

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

| ICG-Longbow Partners Development |

| Investments B Limited (Registered number: 11391330) |

Notes to the Financial Statements - continued

for the year ended 31 May 2025

4. | Fixed asset investments

Interest in |

other |

participating |

interests |

| £

| Cost

| At 1 June 2024

| and 31 May 2025 | 87,500 |  |

| Net book value

| At 31 May 2025 | 87,500 |  |

| At 31 May 2024 | 87,500 |  |

5. | Debtors: amounts falling due within one year |

2025 | 2024 |

| £ | £

| Other debtors | 70,000 |  | 70,000 |  |

6. | Creditors: amounts falling due within one year |

2025 | 2024 |

| £ | £

| Amounts owed to participating interests | 90,800 |  | 90,800 |  |

| Accruals and deferred income | 300 |  | 300 |  |

91,100 |  | 91,100 |  |

7. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

value: |  | £ | £

| 70,000 | Ordinary shares | £1 | 70,000 |  | 70,000 |  |

8. | Reserves

Retained |

earnings |

| £

| At 1 June 2024 | (3,600 | ) |

| Profit for the year | - |

| At 31 May 2025 | (3,600 | ) |

9. | Ultimate controlling party

| There is no ultimate controlling party.