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REGISTERED NUMBER: 04421380 (England and Wales)

| ICARIS Limited |

| Unaudited Financial Statements |

| for the Year Ended 31 December 2025 |

ICARIS Limited (Registered number: 04421380)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Company information | 1 |

Chartered accountants' report | 2 |

Statement of financial position | 3 |

Notes to the financial statements | 5 |

ICARIS Limited

Company Information

for the Year Ended 31 December 2025

| Directors: | A J Owen

| M L Jarvis

| Secretary: | M Owen

| Registered office: | Bank House

| Broad Street

| Spalding

| Lincolnshire

| PE11 1TB

| Business address: | 5 Benner Road

| Pinchbeck

| Spalding

| Lincolnshire

| PE11 3TZ

| Registered number: | 04421380 (England and Wales)

| Accountants: | Moore Thompson

| Bank House

| Broad Street

| Spalding

| Lincolnshire

| PE11 1TB

Chartered Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

ICARIS Limited

The following reproduces the text of the report prepared for the directors 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 Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report 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 ICARIS Limited for the year ended 31 December 2025 which comprise the Statement of income and retained earnings, Statement of financial position 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 Board of Directors of ICARIS Limited, as a body, in accordance with the terms of our engagement letter dated 9 August 2019. Our work has been undertaken solely to prepare for your approval the financial statements of ICARIS Limited and state those matters that we have agreed to state to the Board of Directors of ICARIS Limited, as a body, 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 ICARIS Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that ICARIS 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 ICARIS Limited. You consider that ICARIS 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 ICARIS 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.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

22 April 2026

ICARIS Limited (Registered number: 04421380)

Statement of Financial Position

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

Fixed assets

Tangible assets | 5 | 153,620 |  | 171,152 |  |

Current assets

Debtors | 6 | 17,980 |  | 20,689 |  |

Creditors

Amounts falling due within one year | 7 | 126,148 |  | 129,837 |  |

Net current liabilities | (108,168 | ) | (109,148 | ) |

Total assets less current liabilities | 45,452 |  | 62,004 |  |

Creditors

Amounts falling due after more than one year | 8 | 22,242 |  | 52,762 |  |

Net assets | 23,210 |  | 9,242 |  |

Capital and reserves

Called up share capital | 11 | 100 |  | 100 |  |

Retained earnings | 23,110 |  | 9,142 |  |

Shareholders' funds | 23,210 |  | 9,242 |  |

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.

ICARIS Limited (Registered number: 04421380)

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2026 and were signed on its behalf by:

A J Owen - Director

M L Jarvis - Director

ICARIS Limited (Registered number: 04421380)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | Statutory information

| ICARIS 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.

| 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.

| Turnover

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

| Tangible fixed assets

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

| Long leasehold property | - | 20% on a straight line basis

| Fixtures and fittings | - | 10% on a straight line basis

| Motor vehicles | - | 25% on reducing balance and not depreciated

| Equipment | - | 33% on a straight line basis

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

| 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

ICARIS Limited (Registered number: 04421380)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | Accounting policies - continued

| 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.

4. | Employees and directors

| The average number of employees during the year was NIL (2024 - 4 ).

5. | Tangible fixed assets

| Long |  | Fixtures |

| leasehold |  | and |  | Motor |

| property |  | fittings |  | vehicles |  | Equipment |  | Totals

£ | £ | £ | £ | £ |

| Cost

| At 1 January 2025 |

| and 31 December 2025 | 12,470 |  | 10,502 |  | 202,734 |  | 13,742 |  | 239,448 |  |

| Depreciation

| At 1 January 2025 | 12,470 |  | 10,072 |  | 32,012 |  | 13,742 |  | 68,296 |  |

| Charge for year | - |  | 83 |  | 17,449 |  | - |  | 17,532 |  |

| At 31 December 2025 | 12,470 |  | 10,155 |  | 49,461 |  | 13,742 |  | 85,828 |  |

| Net book value

| At 31 December 2025 | - |  | 347 |  | 153,273 |  | - |  | 153,620 |  |

| At 31 December 2024 | - |  | 430 |  | 170,722 |  | - |  | 171,152 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 2,866 |  | 1,561 |  |

| Other debtors | 5,389 |  | 5,389 |  |

| Directors' loan accounts | 8,725 |  | 12,739 |  |

| Prepayments and accrued income | 1,000 |  | 1,000 |  |

17,980 |  | 20,689 |  |

ICARIS Limited (Registered number: 04421380)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 30,769 |  | 26,573 |  |

| Hire purchase contracts (see note 9) | 21,094 |  | 28,430 |  |

| Social security and other taxes | 3,515 |  | 2,973 |  |

| VAT | 28,350 |  | 24,796 |  |

| Other creditors | 36,645 |  | 17,838 |  |

| Directors' loan accounts | - |  | 133 |  |

| Accruals and deferred income | 5,775 |  | 29,094 |  |

126,148 |  | 129,837 |  |

8. | Creditors: amounts falling due after more than one year |

2025 | 2024 |

£ | £ |

| Bank loans - 1-2 years | 13,029 |  | 15,250 |  |

| Bank loans - 2-5 years | 9,213 |  | 16,418 |  |

| Hire purchase contracts (see note 9) | - |  | 21,094 |  |

22,242 |  | 52,762 |  |

9. | Leasing agreements

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 21,094 |  | 28,430 |  |

| Between one and five years | - |  | 21,094 |  |

21,094 |  | 49,524 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | - |  | 3,605 |  |

| Between one and five years | - |  | 1,202 |  |

- |  | 4,807 |  |

10. | Secured debts

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 21,094 |  | 49,524 |  |

ICARIS Limited (Registered number: 04421380)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

11. | Called up share capital

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

12. | Directors' advances, credits and guarantees

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

2025 | 2024 |

£ | £ |

| A J Owen

| Balance outstanding at start of year | (133 | ) | 14,602 |  |

| Amounts advanced | - |  | 2,044 |  |

| Amounts repaid | - |  | (16,779 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | (133 | ) |

| M L Jarvis

| Balance outstanding at start of year | 12,739 |  | 13,399 |  |

| Amounts advanced | - |  | 2,255 |  |

| Amounts repaid | - |  | (2,915 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | 12,739 |  |

| The loan account interest is charged at 2 .25%