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REGISTERED NUMBER: 08924484 (England and Wales)

| Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Marick Real Estate Ltd |

| Marick Real Estate Ltd (Registered number: 08924484) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| Marick Real Estate Ltd |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | P S P Going

| N H Pope

| M E Kimberley

| D J Wiltshire

| REGISTERED OFFICE: | Chancery House

| 30 St Johns Road

| Woking

| Surrey

| GU21 7SA

| REGISTERED NUMBER: | 08924484 (England and Wales)

| ACCOUNTANTS: | Wilson Partners Limited

| Chancery House

| 30 St Johns Road

| Woking

| Surrey

| GU21 7SA

| Marick Real Estate Ltd (Registered number: 08924484) |

Statement of Financial Position

31 December 2025

| 31/12/25 |  | 31/12/24

| Notes | £ | £ |

FIXED ASSETS

Property, plant and equipment | 5 | 3,355 |  | 8,892 |  |

Investments | 6 | 537,719 |  | 537,719 |  |

541,074 |  | 546,611 |  |

CURRENT ASSETS

Inventories | 1,162,321 |  | 714,484 |  |

Debtors | 7 | 437,240 |  | 476,171 |  |

Cash at bank | 876,830 |  | 2,496,200 |  |

2,476,391 |  | 3,686,855 |  |

CREDITORS

Amounts falling due within one year | 8 | (829,279 | ) | (1,626,528 | ) |

NET CURRENT ASSETS | 1,647,112 |  | 2,060,327 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,188,186 |  | 2,606,938 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 10 | 2,188,086 |  | 2,606,838 |  |

SHAREHOLDERS' FUNDS | 2,188,186 |  | 2,606,938 |  |

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 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.

| Marick Real Estate Ltd (Registered number: 08924484) |

Statement of Financial Position - 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 by the Board of Directors and authorised for issue on 9 April 2026 and were signed on its behalf by:

N H Pope - Director

| Marick Real Estate Ltd (Registered number: 08924484) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Marick Real Estate Ltd 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Preparation of consolidated financial statements

| The financial statements contain information about Marick Real Estate Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399 of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Related party transactions

| All related party transactions during the period were conducted under normal market conditions and are not considered material for the purposes of disclosure under FRS 102 Section 1A.

| Revenue

| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from long-term contracts is recognised using the percentage of completion method when the outcome of a contract can be estimated reliably. The stage of completion is determined by reference to costs incurred to date as a proportion of the total estimated contract costs, or by achievement of contract milestones, where appropriate.

| Where contracts include profit-based milestones subject to significant uncertainty, revenue is recognised only when it is probable that the economic benefits will be received and the amount can be measured reliably. In circumstances where the milestone's outcome cannot be estimated reliably, but it is probable that costs incurred will be recovered, revenue is recognised only to the extent of costs incurred. The directors perform a detailed review of each contract to assess the total expected contract revenue and costs, the likelihood of achieving profit milestones and the extent of revenue to be recognised at each reporting date. Where there is significant uncertainty regarding the achievement of profit milestones, the directors apply judgement and make estimates of the likely profit to be realised, based on current progress, contractual terms, historical experience, and customer discussions. If it is probable that total contract costs will exceed total contract revenue, the expected contract loss is recognised immediately as an expense.

| Tangible fixed assets

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

| Computer equipment | - | Straight line over 4 years

| Investments in subsidiaries

| Investments in subsidiaries are initially recognised at cost. Subsequently, they are measured at fair value where a reliable measure of fair value is available without undue cost or effort, with changes in fair value recognised in profit or loss. Where fair value cannot be measured reliably without undue cost or effort, investments are measured at cost less any accumulated impairment losses.

| Marick Real Estate Ltd (Registered number: 08924484) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| Inventories

| Inventories consist of development projects and are valued at the lower of cost and estimated selling price less costs to complete and sell. At each reporting date, the company assesses whether inventories are impaired or if an impairment loss recognised in prior periods has reversed. Any excess of the carrying amount of development inventory over its estimated selling price less costs to complete and sell, is recognised as an impairment loss in profit or loss.

| 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 statement of financial position date.

| The company is part of a tax group for certain aspects of tax legislation. One of these aspects relates to group relief whereby current tax liabilities can be offset by current tax losses arising in other companies within the same tax group. No payment is made within the group for any tax benefit obtained under these arrangements.

| 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.

| Pension costs and other post-retirement benefits

| The company makes contributions to certain employees' defined contribution schemes. Contributions are charged to the profit and loss account in the period to which they relate.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 12 (2024 - 9 ) .

| Marick Real Estate Ltd (Registered number: 08924484) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | PROPERTY, PLANT AND EQUIPMENT

| Computer

| equipment

£ |

| Cost

| At 1 January 2025 | 43,567 |  |

| Additions | 914 |  |

| Disposals | (19,180 | ) |

| At 31 December 2025 | 25,301 |  |

| Depreciation

| At 1 January 2025 | 34,675 |  |

| Charge for year | 5,329 |  |

| Eliminated on disposal | (18,058 | ) |

| At 31 December 2025 | 21,946 |  |

| Net book value

| At 31 December 2025 | 3,355 |  |

| At 31 December 2024 | 8,892 |  |

6. | FIXED ASSET INVESTMENTS

| Shares in |

| group |  | Other |

| undertakings |  | investments |  | Totals

£ | £ | £ |

| Cost

| At 1 January 2025 | 2,509,216 |  | 3 |  | 2,509,219 |  |

| Additions | - |  | 1 |  | 1 |  |

| Disposals | - |  | (1 | ) | (1 | ) |

| At 31 December 2025 | 2,509,216 |  | 3 |  | 2,509,219 |  |

| Provisions

| At 1 January 2025

| and 31 December 2025 | 1,971,500 |  | - |  | 1,971,500 |  |

| Net book value

| At 31 December 2025 | 537,716 |  | 3 |  | 537,719 |  |

| At 31 December 2024 | 537,716 |  | 3 |  | 537,719 |  |

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

| 31/12/25 |  | 31/12/24

£ | £ |

| Trade debtors | 218,365 |  | 37,016 |  |

| Amounts owed by group undertakings | 97,940 |  | 361,147 |  |

| Other debtors | 120,935 |  | 78,008 |  |

437,240 |  | 476,171 |  |

| Marick Real Estate Ltd (Registered number: 08924484) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

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

| 31/12/25 |  | 31/12/24

£ | £ |

| Trade creditors | 38,123 |  | 23,816 |  |

| Amounts owed to group undertakings | 369,008 |  | 150,000 |  |

| Taxation and social security | 90,776 |  | 1,067,648 |  |

| Other creditors | 331,372 |  | 385,064 |  |

829,279 |  | 1,626,528 |  |

9. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 31/12/25 |  | 31/12/24

£ | £ |

| Within one year | 168,344 |  | 217,644 |  |

| Between one and five years | 161,760 |  | 36,584 |  |

330,104 |  | 254,228 |  |

10. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2025 | 2,606,838 |  |

| Profit for the year | 6,461,248 |  |

| Contribution to employee

| ownership trust | (6,880,000 | ) |

| At 31 December 2025 | 2,188,086 |  |

11. | ULTIMATE CONTROLLING PARTY

| The ultimate parent company and controlling party is Marick Trustee Limited, a company incorporated in England and Wales with a registered office at Chancery House, 30 St Johns Road, Woking, Surrey, GU21 7SA. Marick Trustee Limited hold the shares in Marick Real Estate Limited as trustee for the Marick Real Estate Employee Share Ownership Trust, an employee ownership trust established in the United Kingdom for the benefit of the employees of Marick Real Estate Limited.