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REGISTERED NUMBER: 00912641 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| I.N.E.C. Engineering Company Limited |

I.N.E.C. Engineering Company Limited (Registered number: 00912641)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Chartered Accountants' Report | 8 |

I.N.E.C. Engineering Company Limited

Company Information

for the Year Ended 31 December 2025

| DIRECTOR: | Mr P Orlic

| REGISTERED OFFICE: | Inec House

| 73 Mornington Street

| London

| NW1 7QE

| REGISTERED NUMBER: | 00912641 (England and Wales)

| ACCOUNTANTS: | Sterling Partners Limited

| Chartered Accountants

| Chartered Tax Advisors

| 2nd Floor, Grove House

| 774-780 Wilmslow Road

| Didsbury

| Manchester

| Greater Manchester

| M20 2DR

I.N.E.C. Engineering Company Limited (Registered number: 00912641)

Balance Sheet

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | - |  | - |  |

Investment property | 5 | 1,100,000 |  | 1,100,000 |  |

1,100,000 |  | 1,100,000 |  |

CURRENT ASSETS

Debtors | 6 | 5,914 |  | 5,914 |  |

Cash at bank | 15,189 |  | 9,838 |  |

21,103 |  | 15,752 |  |

CREDITORS

Amounts falling due within one year | 7 | (4,258 | ) | (26,355 | ) |

NET CURRENT ASSETS/(LIABILITIES) | 16,845 |  | (10,603 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,116,845 |  | 1,089,397 |  |

PROVISIONS FOR LIABILITIES | 8 | (62,578 | ) | (91,701 | ) |

NET ASSETS | 1,054,267 |  | 997,696 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 725,000 |  | 725,000 |  |

Share premium | 10 | 144,986 |  | 144,986 |  |

Revaluation reserve | 10 | 111,515 |  | 111,515 |  |

Other reserves | 10 | 641,965 |  | 641,965 |  |

Retained earnings | 10 | (569,199 | ) | (625,770 | ) |

SHAREHOLDERS' FUNDS | 1,054,267 |  | 997,696 |  |

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.

I.N.E.C. Engineering Company Limited (Registered number: 00912641)

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 by the director and authorised for issue on 17 April 2026 and were signed by:

Mr P Orlic - Director

I.N.E.C. Engineering Company Limited (Registered number: 00912641)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| I.N.E.C. Engineering Company Limited 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 parent company is Nomel Limited Cyprus.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have been transferred to the buyers.

| Tangible fixed assets

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

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised 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 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

I.N.E.C. Engineering Company Limited (Registered number: 00912641)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Debtors

| Short term debtors are usually recognised at transaction price (which is normally the invoice price), less any impairment losses for bad and doubtful debt. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest rate method, less any impairment losses for bad and doubtful debt.

| Creditors

| Short term creditors are usually recognised at transaction price (which is normally the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest rate method.

| Rental income

| Rental income from the operating leases is recognised on a straight line basis over the term of the lease.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 1 ) .

4. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 56,280 |  |

| DEPRECIATION

| At 1 January 2025

| and 31 December 2025 | 56,280 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 December 2024 | - |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 January 2025

| and 31 December 2025 | 1,100,000 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,100,000 |  |

| At 31 December 2024 | 1,100,000 |  |

I.N.E.C. Engineering Company Limited (Registered number: 00912641)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | INVESTMENT PROPERTY - continued

| Fair value at 31 December 2025 is represented by:

£ |

| Valuation in 2014 | 1,224,021 |  |

| Valuation in 2017 | (100,000 | ) |

| Valuation in 2020 | (378,090 | ) |

| Cost | 354,069 |  |

1,100,000 |  |

| If Investment property had not been revalued it would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 354,069 |  | 354,069 |  |

| Investment property was valued on an open market basis on 31 December 2025 by Mr P Orlic .

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

2025 | 2024 |

£ | £ |

| Other debtors | 5,914 |  | 5,914 |  |

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

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | - |  | 17,056 |  |

| Other creditors | 64 |  | 5,399 |  |

| Accrued expenses | 4,194 |  | 3,900 |  |

4,258 |  | 26,355 |  |

8. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 62,578 |  | 91,701 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 91,701 |  |

| Corporation tax losses | (29,123 | ) |

| Balance at 31 December 2025 | 62,578 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 725,000 | Ordinary | 1 | 725,000 |  | 725,000 |  |

I.N.E.C. Engineering Company Limited (Registered number: 00912641)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

10. | RESERVES

| Retained |  | Share |  | Revaluation |  | Other |

| earnings |  | premium |  | reserve |  | reserves |  | Totals

£ | £ | £ | £ | £ |

| At 1 January 2025 | (625,770 | ) | 144,986 |  | 111,515 |  | 641,965 |  | 272,696 |  |

| Profit for the year | 56,571 |  | 56,571 |  |

| At 31 December 2025 | (569,199 | ) | 144,986 |  | 111,515 |  | 641,965 |  | 329,267 |  |

11. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Pavlos Pavlidis by virtue of their shares in the parent company, Nomel Limited.

Chartered Accountants' Report to the Director

on the Unaudited Financial Statements of

I.N.E.C. Engineering Company Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of I.N.E.C. Engineering Company Limited for the year ended 31 December 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of I.N.E.C. Engineering Company Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of I.N.E.C. Engineering Company Limited and state those matters that we have agreed to state to the director of I.N.E.C. Engineering Company Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I.N.E.C. Engineering Company Limited and its director for our work or for this report.

It is your duty to ensure that I.N.E.C. Engineering Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of I.N.E.C. Engineering Company Limited. You consider that I.N.E.C. Engineering Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of I.N.E.C. Engineering Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sterling Partners Limited

Chartered Accountants

Chartered Tax Advisors

2nd Floor, Grove House

774-780 Wilmslow Road

Didsbury

Manchester

Greater Manchester

M20 2DR

Date: .............................................