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REGISTERED NUMBER: 04399749 (England and Wales)

| FREEDOM INSURANCE SERVICES LIMITED |

| REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

| Page |

Company Information | 1 |

Chairman's Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 4 |  | to |  | 6

Income statement | 7 |

Balance Sheet | 8 |

Statement of Changes in Equity | 9 |

Notes to the Financial Statements | 10 |  | to |  | 17

FREEDOM INSURANCE SERVICES LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | M W Johnson

| P B Burke

| R P Gilliam

| SECRETARY: | M J Tolond

| REGISTERED OFFICE: | 58 Market Square

| St. Neots

| PE19 2AA

| REGISTERED NUMBER: | 04399749 (England and Wales)

| AUDITORS: | Duncan & Toplis Audit Limited, Statutory Auditor

| 3 Castlegate

| Grantham

| Lincolnshire

| NG31 6SF

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

CHAIRMAN'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

I present the Chairman's Statement for Freedom Insurance Services for the financial year ending 31 December 2025. I am pleased to report that a return to profitability during the middle of the year has resulted in a significantly reduced loss compared to recent years. As we enter 2026, the company appears to be operating with renewed momentum, and this progress is entirely due to the efforts of its staff, ably led by Roland Gilliam.

Freedom Insurance Services continues to focus on providing travel insurance tailored to individuals with pre-existing medical conditions, operating across four distinct brands, each with its own positioning and customer appeal. The improved financial performance reflects the fact that all four brands are now fully operational and contributing to trading.

Following a period of disruption in 2023 and into 2024, primarily driven by the loss of underwriting capacity, the business has continued its recovery through a deliberate strategy focused on diversification and improved distribution.

With all four core brands now fully operational, we have strengthened our market position by leveraging our strategic partnership with Brokersure. This enhanced distribution platform, further optimised during 2025, has enabled us to offer a broader and more competitive range of products, drawing on multiple underwriting partners alongside a complementary third-party proposition.

This approach has materially improved our ability to match customer needs with appropriate cover at competitive price points. As a result, policy volumes have increased significantly, with total sales more than doubling over the course of the year. Growth has been particularly evident in competitively priced products, especially for European travel, where lower average premiums necessitate a volume-led model to support sustainable returns.

We have also seen added value from product enhancements during the year, including the extension of the OneBefore offering to include "Freetime by Freedom" in November, which has strengthened our proposition across certain worldwide policy options.

Whilst there remain areas where we continue to work with our partners to improve competitiveness, we are now operating from a position of greater flexibility and resilience. Our focus remains on building further scale through improved conversion, a broader product mix, and continued refinement of our distribution capability.

With prudent expense management, our total expenses fell by approximately 6%, while income increased at a higher rate, resulting in a trading loss for the year of just under £100,000. Our 12-month rolling income has increased consistently throughout the year, reflecting the underlying improvement in trading performance and the rebuilding of our sales channels.

An exciting development in early 2026 has been the acquisition of a business in our sector from a retiring competitor. The process of obtaining regulatory approval and securing underwriting support has been time-consuming, but we are hopeful that new business flows will commence shortly. This opportunity includes access to a substantial base of medically underwritten clients, as well as the ability to offer additional products such as car hire excess insurance. We look forward to reporting positively on the return from this investment in due course.

Our ongoing focus on service excellence continues to be reflected in our non-financial KPIs, including call management metrics, customer satisfaction ratings, and the development of management information aligned to the FCA's Consumer Duty principles. These measures remain central to how we assess performance and ensure good customer outcomes.

Looking ahead, we are cautiously optimistic. The business is better positioned than it has been for some time, with the right team, a broader and more flexible product range, and improved distribution capability to support profitable growth. At the same time, we remain mindful of the wider economic and geopolitical factors that can influence travel demand and customer behaviour.

I hope our shareholders can take confidence in the progress made and the direction of travel. Whilst the likelihood of dividends in the near term remains limited, the foundations are now firmly in place for a return to sustainable profitability.

Finally, I extend, on behalf of the Board, our sincere gratitude to our dedicated and resilient staff. Their commitment through a challenging period has ensured the continued progress of the business and underpins our confidence in a positive future.

PB Burke

Chairman

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company continued to be that of general insurance broking. The greatest proportion of the company's turnover is derived from its travel insurance portfolio designed for individuals and families living with pre-existing medical conditions. The company also engages in medical screening and risk assessment activities.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

M W Johnson

P B Burke

R P Gilliam

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Annual Report 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

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

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

M W Johnson - Director

10 April 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

FREEDOM INSURANCE SERVICES LIMITED

Opinion

We have audited the financial statements of Freedom Insurance Services Limited (the 'company') for the year ended 31 December 2025 which comprise the Income statement, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 December 2025 and of its 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 company 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 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 Annual Report, 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in 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, or returns adequate for our audit have not been received from branches not visited by us; or

- | the 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

FREEDOM INSURANCE SERVICES LIMITED

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 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 company or to cease operations, or have no realistic alternative but to do so.

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 have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with directors and other management obtained as part of the work required by auditing standards. We have also discussed with the directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit. The potential impact of different laws and regulations varies considerably.

Firstly, the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statement, as well as the risk of inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates, re-performing the calculation, and reviewing the outcome of prior year estimates.

Secondly, the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We have identified the following areas as those most likely to have such an effect: compliance with Financial Conduct Authority, employment laws and health and safety regulations.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection. This inspection included a review of the external audits conducted within the year for any evidence of non-compliance, reading minutes of meetings of those charged with governance, in addition to an assessment of the company's employment and health and safety controls. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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

FREEDOM INSURANCE SERVICES 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.

Theo Banos BA FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

13 April 2026

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

INCOME STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

REVENUE | 598,164 |  | 201,049 |  |

Administrative expenses | 649,693 |  | 394,510 |  |

OPERATING LOSS | 4 | (51,529 | ) | (193,461 | ) |

Income from shares in group undertakings | 36,475 |  | - |  |

Interest receivable and similar income | 1,306 |  | 337 |  |

|  | 37,781 |  |  |  | 337 |  |

(13,748 | ) | (193,124 | ) |

Amounts written off investments | 5 | 22,993 |  | 55,685 |  |

(36,741 | ) | (248,809 | ) |

Interest payable and similar expenses | 6 | 35,509 |  | 19,456 |  |

LOSS BEFORE TAXATION | (72,250 | ) | (268,265 | ) |

Tax on loss | 7 | - |  | (168,617 | ) |

LOSS FOR THE FINANCIAL YEAR | (72,250 | ) | (99,648 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (72,250 | ) | (99,648 | ) |

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Property, plant and equipment | 8 | 25,340 |  | 27,490 |  |

Investments | 9 | - |  | 22,993 |  |

25,340 |  | 50,483 |  |

CURRENT ASSETS

Debtors | 10 | 1,361,184 |  | 1,344,238 |  |

Cash at bank and in hand | 191,435 |  | 132,673 |  |

1,552,619 |  | 1,476,911 |  |

CREDITORS

Amounts falling due within one year | 11 | 1,246,614 |  | 1,115,361 |  |

NET CURRENT ASSETS | 306,005 |  | 361,550 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 331,345 |  | 412,033 |  |

CREDITORS

Amounts falling due after more than one year | 12 | - |  | 8,438 |  |

NET ASSETS | 331,345 |  | 403,595 |  |

CAPITAL AND RESERVES

Called up share capital | 15 | 1,853,829 |  | 1,853,829 |  |

Retained earnings | (1,522,484 | ) | (1,450,234 | ) |

331,345 |  | 403,595 |  |

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

M W Johnson - Director

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 January 2024 | 1,404,515 |  | (1,350,586 | ) | 53,929 |  |

Changes in equity

Issue of share capital | 449,314 |  | - |  | 449,314 |  |

Total comprehensive income | - |  | (99,648 | ) | (99,648 | ) |

Balance at 31 December 2024 | 1,853,829 |  | (1,450,234 | ) | 403,595 |  |

Changes in equity

Total comprehensive income | - |  | (72,250 | ) | (72,250 | ) |

Balance at 31 December 2025 | 1,853,829 |  | (1,522,484 | ) | 331,345 |  |

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Freedom Insurance Services Limited is a limited company incorporated in England and Wales. The address of the registered office is given in the company information on page one of these financial statements. The nature of the company's operations and principal activities are detailed in the Report of the Directors. It is authorised and regulated by the Financial Conduct Authority.

| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

| Consolidated accounts have not been prepared since the company is a subsidiary of Kirly Limited and is exempted from the requirement to prepare group accounts under Section 400 of the Companies Act 2006. Consolidated financial statements of Kirly Limited can be obtained from:

| Companies House

| Crown Way

| Cardiff

| CF14 3UZ

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| - From preparing a Statement of Cash Flows, based on the requirements of Section 7 Statement of Cash Flows;

| - From disclosing related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transactions is wholly owned by such a member, as required by Section 33 Related Party Disclosures - paragraph 33.1A.

| Revenue

| Revenue represents net insurance commissions and medical screening fees earned during the period, stated after trade discounts, other sales taxes. Brokerage is recognised at the date of receipt of the premium from the insured.

| Property, plant and equipment

| Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

| Fixtures and fittings - 10% on cost

| Computer equipment - 33% on cost

| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is any indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

| If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

| Investments in subsidiaries

| Investments in subsidiaries are initially measured at cost and subsequently measured at cost less accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit and loss.

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Taxation

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

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

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

| Deferred tax

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

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

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

| 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.

| Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Going concern

| The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The directors believe that this basis is appropriate because a related party, Kirly Limited, has stated that it will provide financial support for the foreseeable future.

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 303,813 |  | 129,747 |  |

| Social security costs | 33,415 |  | 4,869 |  |

| Other pension costs | 26,405 |  | 17,520 |  |

363,633 |  | 152,136 |  |

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

| 2025 |  | 2024

| Directors and administration | 12 |  | 13 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 88,418 |  | 46,100 |  |

4. | OPERATING LOSS

| The operating loss is stated after charging:

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 82 |  | 465 |  |

| Depreciation - owned assets | 16,340 |  | 10,822 |  |

| Loss on disposal of fixed assets | - |  | 4,861 |  |

| Auditors' remuneration | 10,658 |  | 10,200 |  |

| Auditors' remuneration for non audit work | 4,390 |  | 4,874 |  |

| Operating lease charges | 26,685 |  | 26,685 |  |

5. | AMOUNTS WRITTEN OFF INVESTMENTS |

| 2025 |  | 2024

£ | £ |

| Investment impairment | 22,993 |  | 55,685 |  |

| During the year, £22,993 (2024: £55,685) of investments in subsidiaries were impaired.

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 409 |  | 471 |  |

| Interest payable | 35,100 |  | 18,985 |  |

35,509 |  | 19,456 |  |

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

7. | 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 | - |  | (166,341 | ) |

| Deferred tax | - |  | (2,276 | ) |

| Tax on loss | - |  | (168,617 | ) |

| 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 | (72,250 | ) | (268,265 | ) |

| Loss multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | (18,063 | ) | (67,066 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 5,846 |  | 19,865 |  |

| Income not taxable for tax purposes | (12,459 | ) | - |  |

| Capital allowances in excess of depreciation | (212 | ) | (1,651 | ) |

| Losses carried forward | 24,888 |  | - |  |

| Brought forward losses sold to group entities | - |  | (117,489 | ) |

| Deferred tax movement | - |  | (2,276 | ) |

| Total tax credit | - |  | (168,617 | ) |

8. | PROPERTY, PLANT AND EQUIPMENT

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 91,940 |  | 328,101 |  | 420,041 |  |

| Additions | - |  | 14,190 |  | 14,190 |  |

| At 31 December 2025 | 91,940 |  | 342,291 |  | 434,231 |  |

| DEPRECIATION

| At 1 January 2025 | 73,456 |  | 319,095 |  | 392,551 |  |

| Charge for year | 6,353 |  | 9,987 |  | 16,340 |  |

| At 31 December 2025 | 79,809 |  | 329,082 |  | 408,891 |  |

| NET BOOK VALUE

| At 31 December 2025 | 12,131 |  | 13,209 |  | 25,340 |  |

| At 31 December 2024 | 18,484 |  | 9,006 |  | 27,490 |  |

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

9. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2025 | 22,993 |  |

| Impairment of struck off subsidiary | (22,887 | ) |

| At 31 December 2025 | 106 |  |

| PROVISIONS

| Impairments | 106 |  |

| At 31 December 2025 | 106 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 December 2024 | 22,993 |  |

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

| Freetime Travel Limited

| Registered office: 58 Market Square, St. Neots, England, PE19 2AA

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| OK to Travel Cruise Insurance Solutions Limited

| Registered office: 58 Market Square, St. Neots, England, PE19 2AA

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Travel Positive Limited

| Registered office: 58 Market Square, St. Neots, England, PE19 2AA

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| One Tree Travel Limited

| Registered office:

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

10. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 37,666 |  | 22,366 |  |

| Other debtors | 2,647 |  | 2,647 |  |

| Called up share capital not paid | 1,298,019 |  | 1,298,019 |  |

| Prepayments and accrued income | 22,237 |  | 20,591 |  |

1,360,569 |  | 1,343,623 |  |

| Amounts falling due after more than one year:

| Other debtors | 615 |  | 615 |  |

| Aggregate amounts | 1,361,184 |  | 1,344,238 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 13) | 8,438 |  | 14,466 |  |

| Finance leases (see note 14) | 5,400 |  | 2,500 |  |

| Trade creditors | 171,897 |  | 88,612 |  |

| Amounts owed to group undertakings | 765,048 |  | 769,913 |  |

| Amounts owed to related parties | 138,816 |  | 98,989 |  |

| Other taxes and social security | 7,265 |  | 6,242 |  |

| Other creditors | 3,508 |  | - |  |

| Accruals and deferred income | 146,242 |  | 134,639 |  |

1,246,614 |  | 1,115,361 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans (see note 13) | - |  | 8,438 |  |

13. | LOANS

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

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 8,438 |  | 14,466 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | - |  | 8,438 |  |

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

14. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Finance leases |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 5,400 |  | 2,500 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 39,500 |  | 39,500 |  |

| Between one and five years | 20,345 |  | 59,845 |  |

59,845 |  | 99,345 |  |

15. | CALLED UP SHARE CAPITAL

| Ordinary share capital |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |

| Issued and not fully paid |  | Number |  | Number |  | £ |  | £ |  |

| Ordinary A shares of 4p each |  | 1,414,325 |  | 1,414,325 |  | 56,573 |  | 56,573 |  |

| Ordinary B shares of 2.7p each |  | 16,641,264 |  | 16,641,264 |  | 449,314 |  | 449,314 |  |

| Ordinary C shares of 2.7p each |  | 16,641,264 |  | 16,641,264 |  | 449,314 |  | 449,314 |  |

| Ordinary D shares of 2.7p each |  | 16,641,264 |  | 16,641,264 |  | 449,314 |  | 449,314 |  |

| Ordinary E shares of 2.7p each |  | 16,641,264 |  | 16,641,264 |  | 449,314 |  | 449,314 |  |

|  | 67,979,381 |  | 67,979,381 |  | 1,853,829 |  | 1,853,829 |  |

| All Ordinary A shares have been issued and are fully paid. All Ordinary B, Ordinary C, Ordinary D and Ordinary E shares have been issued and are partly paid.

| All shares rank equally in terms of voting rights at meetings and distribution of assets in the event of a winding up. All ordinary A shares rank equally in terms of dividend payments. In respect of dividends Ordinary B, Ordinary C, Ordinary D and Ordinary E shares will only have rights when the shares are fully paid when they will rank pari passu with Ordinary A shares. In the event of any unpaid calls on the 'B', 'C', 'D' or 'E' shares, directors may at their discretion transfer the shares to any person to satisfy the amount of the unpaid calls. Called up share capital represents the nominal value of shares that have been issued.

16. | RELATED PARTY DISCLOSURES

| During the year to 31 December 2025 the company was provided loan advances of £54,000 (2024: £328,000) from its parent company Kirly Limited and made repayments of £32,000 (2024: £394,448). The loan is interest-free and has no fixed terms of repayment. The outstanding balance owed to Kirly Limited by the company at year end was £30,552 (2024: £8,552).

| During the year, the company was charged £1,703 (2024: £25,260) from Kirly Limited in relation to management fees.

| The rent and service charges payable by the company for the year to 31 December 2025 were £45,229 (2024: £35,752) to Kirly Property Services Limited, a company controlled by the daughter of M W Johnson. The outstanding balance owed to Kirly Property Services Limited by the company at the year end was £138,816 (2024: £98,989).

| The company has a loan with group company Kirly Group Holdings Limited, a company owned by Kirly Limited. The outstanding balance owed and accrued to Kirly Group Holdings at the year end was £802,310 (2024: £767,210). Interest of £35,100 (2024: £18,018) was charged to the company during the period to 31 December 2025.

FREEDOM INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04399749)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

17. | POST BALANCE SHEET EVENTS

| On 25 March 2026, the company received FCA approval to its proposed extension of the subordinated loan due to Kirly Group Holdings Limited. Of the loan due to Kirly Group Holdings Limited at 31 December 2025, £585,000 will now fall due in August 2030. This liability will be shown as falling due in more than one year in the next set of accounts to 31 December 2026.

18. | ULTIMATE CONTROLLING PARTY

| The company is a subsidiary of Kirly Limited, a company registered in England and Wales. Its registered office is 11 Luard Road, Cambridge, CB2 8PJ.