These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Horizon Ceremonies Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o External Services Limited, 20 Central Avenue, St Andrews Business Park, Norwich, NR7 0HR.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a parent and subsidiary undertaking.

The smallest group of undertakings for which consolidated financial statements are prepared, of which the company is a member, is headed by Railtrust Holding Limited.

The forecasts show that the company can meet its obligations as they fall due.

Having considered the forecasts, the additional funding received, and the level of support from the new owners, the directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

In making this assessment, the directors have considered a period of 12 months from the date of approval of these financial statements to April 2027.

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Prepayments include site development costs that are incurred for prospective projects where planning conditions have not yet been fully met and where the Board has a reasonable expectation that such conditions will be satisfied in due course.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, loan notes and amounts owed to the group, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The costs of short-term employee benefits are recognised as a liability and an expense.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There have however been no revisions to accounting estimates in the period.

After prospective sites for development have been identified, there is substantial cost and time investment required in order to obtain planning permission. These initial costs are recorded as prepayments. The directors are required to take a view on the likelihood of each project proceeding and if it is determined that the project will not be able to proceed; the balance of the site development cost prepayment is impaired and released to the profit and loss account. At the year end £1,381,124 was held in prepayments which the directors, with reference to ongoing planning applications and judicial reviews, believe to be recoverable in full (2024: £1,734,068).

The average monthly number of persons (including directors) employed by the company during the year was:

During the year, the company acquired the issued share capital of a number of entities which are now wholly owned subsidiaries. These acquisitions are reflected in the increase in fixed asset investments.

Amounts owed to group companies include an intercompany loan of £32,234,584 which is repayable on demand. The directors have received confirmation from the group company that it will not seek repayment of this balance within 12 months from the date of approval of these financial statements.

Loan notes outstanding in the prior year were fully repaid during the year. No balances were outstanding at the balance sheet date.

Other borrowings due in more than one year at 31 December 2025 relate to intercompany loans issued to the company by a group company on 3 July 2025.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

On 16th April 2026, the Group acquired Baldarroch Crematorium Ltd following the reporting period. The acquisition supports the Group’s general growth strategy and has not been reflected in these financial statements.

The company is a parent and a subsidiary undertaking.

The smallest group of undertakings for which consolidated financial statements are prepared, of which the company is a member, is headed by Railtrust Holding Limited.

The registered office of Railtrust Holding Limited is: 7 Devonshire Square, London, United Kingdom, EC2M 4YH.