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REGISTERED NUMBER: 03155942 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025

FOR

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD (REGISTERED NUMBER: 03155942)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

Page |

Company Information | 1 |

Chartered Accountants' Report | 2 |

Balance Sheet | 3 |

Notes to the Financial Statements | 5 |

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST DECEMBER 2025

| Directors: | J Newton

| G N Wild

| Registered office: | 1-2 Craven Road

| London

| W5 2UA

| Registered number: | 03155942 (England and Wales)

| Accountants: | Johnsons, Chartered Accountants

| 1-2 Craven Road

| Ealing

| London

| W5 2UA

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD

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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 International Commercial & Engineering (ICE) Insurance Services Ltd for the year ended 31st 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 Board of Directors of International Commercial & Engineering (ICE) Insurance Services Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of International Commercial & Engineering (ICE) Insurance Services Ltd and state those matters that we have agreed to state to the Board of Directors of International Commercial & Engineering (ICE) Insurance Services Ltd, 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 International Commercial & Engineering (ICE) Insurance Services Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that International Commercial & Engineering (ICE) Insurance Services Ltd 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 loss of International Commercial & Engineering (ICE) Insurance Services Ltd. You consider that International Commercial & Engineering (ICE) Insurance Services Ltd 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 International Commercial & Engineering (ICE) Insurance Services Ltd. 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.

Johnsons, Chartered Accountants

1-2 Craven Road

Ealing

London

W5 2UA

21st April 2026

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD (REGISTERED NUMBER: 03155942)

BALANCE SHEET

31ST DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

Fixed assets

Intangible assets | 4 | 796,631 |  | 917,383 |  |

Tangible assets | 5 | 1,075 |  | 3,621 |  |

Investments | 6 | 5 |  | 5 |  |

797,711 |  | 921,009 |  |

Current assets

Debtors | 7 | 1,383,590 |  | 1,350,709 |  |

Cash at bank and in hand | 269,252 |  | 292,516 |  |

1,652,842 |  | 1,643,225 |  |

Creditors

Amounts falling due within one year | 8 | (169,547 | ) | (235,885 | ) |

Net current assets | 1,483,295 |  | 1,407,340 |  |

Total assets less current liabilities | 2,281,006 |  | 2,328,349 |  |

Capital and reserves

Called up share capital | 9 | 14,374,820 |  | 14,374,820 |  |

Retained earnings | (12,093,814 | ) | (12,046,471 | ) |

Shareholders' funds | 2,281,006 |  | 2,328,349 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD (REGISTERED NUMBER: 03155942)

BALANCE SHEET - continued

31ST 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 21st April 2026 and were signed on its behalf by:

G N Wild - Director

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD (REGISTERED NUMBER: 03155942)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

1. | STATUTORY INFORMATION

| International Commercial & Engineering (ICE) Insurance Services 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.

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 brokerage fees charged on contracts of insurance and fees received for management services. Turnover is attributable to geographical markets both inside and outside the UK.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Intellectual property are being amortised evenly over their estimated useful life of ten years.

| Contracts are being amortised evenly over their estimated useful life of ten years.

| Tangible fixed assets

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

| Computer equipment | - | 33.33% on cost

| Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| 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.

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD (REGISTERED NUMBER: 03155942)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Impairment

| The company assesses at each balance sheet date whether there is any indication that the value of its fixed assets is impaired. If any such indication exists, the company estimates the recoverable amount of such assets. The recoverable amount of the asset is the higher of its net realisable value and value in use. If the recoverable amount of the asset is less than its carrying value, an impairment loss is recognised in the profit and loss account and the carrying value of these assets is reduced by the amount of the loss.

3. | EMPLOYEES AND DIRECTORS

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

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| Cost

| At 1st January 2025 | 12,719,809 |  |

| Additions | 24,924 |  |

| At 31st December 2025 | 12,744,733 |  |

| Amortisation

| At 1st January 2025 | 11,802,426 |  |

| Charge for year | 145,676 |  |

| At 31st December 2025 | 11,948,102 |  |

| Net book value

| At 31st December 2025 | 796,631 |  |

| At 31st December 2024 | 917,383 |  |

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD (REGISTERED NUMBER: 03155942)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2025

5. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| Cost

| At 1st January 2025 | 3,834 |  |

| Disposals | (2,076 | ) |

| At 31st December 2025 | 1,758 |  |

| Depreciation

| At 1st January 2025 | 213 |  |

| Charge for year | 585 |  |

| Eliminated on disposal | (115 | ) |

| At 31st December 2025 | 683 |  |

| Net book value

| At 31st December 2025 | 1,075 |  |

| At 31st December 2024 | 3,621 |  |

6. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| Cost

| At 1st January 2025

| and 31st December 2025 | 5 |  |

| Net book value

| At 31st December 2025 | 5 |  |

| At 31st December 2024 | 5 |  |

| On 1 January 2021 the company acquired the entire share capital of Askari Fintech Insurance Consultants (Pty) Limited (formerly called One Risk Africa (Pty) Ltd), a company registered in South Africa.

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

2025 | 2024 |

£ | £ |

| Amount owed by group undertakings | 29,293 |  | - |  |

| VAT | 465 |  | 453 |  |

| Deferred tax asset

| Tax losses carried forward | 1,346,674 |  | 1,343,135 |  |

| Prepayments | 7,158 |  | 7,121 |  |

1,383,590 |  | 1,350,709 |  |

| .

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD (REGISTERED NUMBER: 03155942)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2025

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

2025 | 2024 |

£ | £ |

| Other creditors | 1,662 |  | 1,663 |  |

| Amounts owed to group undertakings | 163,945 |  | 142,006 |  |

| Directors' current accounts | - |  | 88,636 |  |

| Accrued expenses | 3,940 |  | 3,580 |  |

169,547 |  | 235,885 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 13,969,820 | A Ordinary | £1 | 13,969,820 |  | 13,969,820 |  |

| 8,100,000 | B Ordinary | £0.05 | 405,000 |  | 405,000 |  |

14,374,820 |  | 14,374,820 |  |

10. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.