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REGISTERED NUMBER: 12369929 (England and Wales)

INOVATE LOGISTICS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

| INOVATE LOGISTICS LTD (REGISTERED NUMBER: 12369929) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

| Balance Sheet | 1 |

| Notes to the Financial Statements | 3 |

| INOVATE LOGISTICS LTD (REGISTERED NUMBER: 12369929) |

BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 55,095 |  | 9,978 |  |

CURRENT ASSETS

Debtors | 5 | 38,348 |  | 58,602 |  |

Prepayments and accrued income | 16,453 |  | 13,722 |  |

Cash at bank | 92,463 |  | 246,602 |  |

147,264 |  | 318,926 |  |

CREDITORS

Amounts falling due within one year | 6 | 53,680 |  | 62,432 |  |

NET CURRENT ASSETS | 93,584 |  | 256,494 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 148,679 |  | 266,472 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (23,877 | ) | (4,410 | ) |

PROVISIONS FOR LIABILITIES | (10,468 | ) | (2,964 | ) |

ACCRUALS AND DEFERRED INCOME | (10,950 | ) | (7,298 | ) |

NET ASSETS | 103,384 |  | 251,800 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 1 |  | 2 |  |

Capital redemption reserve | 1 |  | - |  |

Retained earnings | 103,382 |  | 251,798 |  |

SHAREHOLDERS' FUNDS | 103,384 |  | 251,800 |  |

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

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

The director acknowledges his 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.

| INOVATE LOGISTICS LTD (REGISTERED NUMBER: 12369929) |

BALANCE SHEET - continued

31 DECEMBER 2025

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 and authorised for issue by the director and authorised for issue on 26 March 2026 and were signed by:

D Ogden - Director

| INOVATE LOGISTICS LTD (REGISTERED NUMBER: 12369929) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Inovate Logistics 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: | 12369929

| Registered office: | 7 Earlstrees Court

| Earlstrees Industrial Estate

| Corby

| Northamptonshire

| NN17 4AX

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.

| Turnover

| Turnover represents amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.

| 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 | - | 25% on cost

| Fixtures and fittings | - | 25% on cost

| Motor vehicles | - | 25% on cost

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Debtors and creditors

| Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

| Any losses arising from impairment are recognised in the profit and loss account.

| 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.

| INOVATE LOGISTICS LTD (REGISTERED NUMBER: 12369929) |

NOTES TO THE 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 9 (2024 - 11 ) .

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Motor |  | Computer |

| machinery |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 January 2025 | 12,459 |  | 6,081 |  | 114,257 |  | 5,138 |  | 137,935 |  |

| Additions | - |  | - |  | 72,620 |  | - |  | 72,620 |  |

| Disposals | - |  | - |  | (53,380 | ) | - |  | (53,380 | ) |

| At 31 December 2025 | 12,459 |  | 6,081 |  | 133,497 |  | 5,138 |  | 157,175 |  |

| DEPRECIATION

| At 1 January 2025 | 12,314 |  | 6,053 |  | 105,711 |  | 3,879 |  | 127,957 |  |

| Charge for year | 89 |  | 28 |  | 26,702 |  | 684 |  | 27,503 |  |

| Eliminated on disposal | - |  | - |  | (53,380 | ) | - |  | (53,380 | ) |

| At 31 December 2025 | 12,403 |  | 6,081 |  | 79,033 |  | 4,563 |  | 102,080 |  |

| NET BOOK VALUE

| At 31 December 2025 | 56 |  | - |  | 54,464 |  | 575 |  | 55,095 |  |

| At 31 December 2024 | 145 |  | 28 |  | 8,546 |  | 1,259 |  | 9,978 |  |

| INOVATE LOGISTICS LTD (REGISTERED NUMBER: 12369929) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | 28,348 |  | 48,602 |  |

| Other debtors | 10,000 |  | 10,000 |  |

38,348 |  | 58,602 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 4,410 |  | 10,404 |  |

| Hire purchase contracts | 14,221 |  | - |  |

| Trade creditors | 3,897 |  | 2,920 |  |

| Taxation and social security | 31,082 |  | 49,038 |  |

| Other creditors | 70 |  | 70 |  |

53,680 |  | 62,432 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans | - |  | 4,410 |  |

| Hire purchase contracts | 23,877 |  | - |  |

23,877 |  | 4,410 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 1 | Ordinary | 1 | 1 |  | 2 |  |

9. | OTHER FINANCIAL COMMITMENTS

| Total financial commitments not included in the balance sheet amount to £92,000 (2024 - £133,000) in the form of operating leases.

| INOVATE LOGISTICS LTD (REGISTERED NUMBER: 12369929) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

2025 | 2024 |

£ | £ |

| D Ogden

| Balance outstanding at start of year | (70 | ) | 1,121 |  |

| Amounts advanced | - |  | 850 |  |

| Amounts repaid | - |  | (2,041 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (70 | ) | (70 | ) |