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REGISTERED NUMBER: 13023967 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2025

for

GENUINE SOLUTIONS DISTRIBUTION LIMITED

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Report of the Director | 2 |

| Balance Sheet | 5 |

| Notes to the Financial Statements | 7 |

| Certified Accountants' Report | 14 |

| GENUINE SOLUTIONS DISTRIBUTION LIMITED |

Company Information

for the Year Ended 31 December 2025

| DIRECTOR: | P A Crossman

| REGISTERED OFFICE: | Unit 10 Silverglade Business Park

| Leatherhead Road

| Chessington

| KT9 2QL

| REGISTERED NUMBER: | 13023967 (England and Wales)

| ACCOUNTANTS: | A W Associates

| Regus, Building 2

| Guildford Business Park Road

| Guildford

| Surrey

| GU2 8XG

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Report of the Director

for the Year Ended 31 December 2025

The director presents his report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITIES

Genuine Solutions Distribution Limited operates as a service led distributor specialising in the sourcing, distribution and value added resale of mobile devices and accessories. The business supports a broad customer base including retailers, network operators and commercial partners across the UK and international markets. Its model is built on quality, compliance and value creation, delivering reliable supply chain solutions within a fast moving technology environment.

REVIEW OF BUSINESS

The year ended 31 December 2025 represents a period of continued evolution, resilience and strategic progress. Building on a simplified Group structure established in late 2024, the business has strengthened its position as a trusted distribution partner, aligned to a clear and focused growth strategy.

Performance during the year has been strong, revenue growth was achieved despite a period of consolidation. This reflects the depth of existing customer relationships, alongside targeted expansion into new sectors and markets.

Significant progress has been made in enhancing market presence through the successful onboarding and development of major national retail partnerships, including Ryman, TK Maxx and Argos. These relationships provide a strong platform for sustained growth and reinforce the Company's credibility within the retail channel.

Strategically, the business undertook a comprehensive rebrand to modernise its market positioning and more clearly articulate its value proposition as a distributor of choice. This repositioning reflects a broader shift towards a more structured, service-led distribution model.

Investment in systems, data and internal capability has further strengthened the Company's ability to scale, improve decision making and deliver consistent service across its customer base.

During the year, the business continued to deliver stable and scalable operational performance, supported by disciplined execution and a clear commercial focus.

Key developments include:

- Strengthening of the commercial function through the recruitment of two additional Account Managers, improving customer coverage and deepening engagement;

- Continued expansion of vendor relationships, ensuring a relevant and competitive product portfolio aligned to market demand;

- Investment in operational processes and account management frameworks to improve consistency and service delivery.

A significant milestone has been the development of the Company's eCommerce capability. A dedicated team has been established, with supporting infrastructure implemented ahead of a planned launch in 2026. This initiative represents a step change in customer accessibility and buying efficiency, while creating a scalable channel to support future growth.

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Report of the Director

for the Year Ended 31 December 2025

FUTURE DEVELOPMENTS

The Director and Senior Leadership Team remain confident in the Company's trajectory and its ability to deliver sustainable, profitable growth.

Strategic priorities for the year ahead include:

- Driving revenue through deeper engagement with existing customers and targeted new business acquisition;

- Launching and scaling the e commerce platform to unlock new growth channels;

- Expanding strategic partnerships with leading brands and suppliers;

- Enhancing customer experience through improved responsiveness and service delivery;

- Continuing to develop internal capability and leadership within the commercial function.

The outlook for 2026 is positive, supported by strong foundations, an evolving distribution model and increasing demand for value led, service driven partners

DIRECTOR

P A Crossman held office during the whole of the period from 1 January 2025 to the date of this report.

SUSTAINABILITY AND PURPOSE

Sustainability is embedded within the Company's operating model and aligned to the wider Group commitment to responsible business practices.

As part of a certified B Corp organisation, Genuine Solutions operates to high standards of social and environmental performance, accountability and transparency. Notably, B Corp recertification saw a significant improvement in score from 89.3 to 115.4, alongside the achievement of EcoVadis accreditation, further strengthening its ESG credentials and market differentiation.

The business plays an active role in supporting the circular economy through the distribution of refurbished and secondary market devices, extending product lifecycles and reducing electronic waste. This approach not only delivers commercial value but also contributes to measurable environmental impact, reinforcing the Company's position as a responsible distribution partner.

PRINCIPAL RISKS AND UNCERTAINTIES

The Company operates within a competitive and rapidly evolving market characterised by pricing pressure, supply chain volatility and changing customer demand.

Key risks include:

- Margin compression driven by market competition;

- Supply chain disruption and product availability challenges;

- Rapid technology cycles impacting product lifecycle and pricing;

- Shifts in customer demand and channel dynamics.

Mitigation strategies remain focused on supplier diversification, disciplined inventory management and continued investment in operational efficiency. Strong customer relationships and a flexible commercial model enable the business to respond effectively to changing market conditions

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Report of the Director

for the Year Ended 31 December 2025

ON BEHALF OF THE BOARD

The Director and Senior Leadership Team believe that Genuine Solutions Distribution Limited is well positioned for continued growth. The business benefits from a clear strategy, strengthened market positioning and a disciplined focus on delivering value to customers and partners.

With a scalable operating model, enhanced capabilities and a growing network of strategic relationships, the Company enters the next financial year with confidence and momentum.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P A Crossman - Director

8 May 2026

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 800 |  | - |  |

Tangible assets | 5 | 8,060 |  | - |  |

8,860 |  | - |  |

CURRENT ASSETS

Stocks | 407,193 |  | - |  |

Debtors | 6 | 261,446 |  | - |  |

Cash at bank and in hand | 192,486 |  | - |  |

861,125 |  | - |  |

CREDITORS

Amounts falling due within one year | 7 | 804,234 |  | - |  |

NET CURRENT ASSETS | 56,891 |  | - |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 65,751 |  | - |  |

CAPITAL AND RESERVES

Called up share capital | 800 |  | 800 |  |

Share premium | 100 |  | 100 |  |

Retained earnings | 64,851 |  | (900 | ) |

65,751 |  | - |  |

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.

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

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 8 May 2026 and were signed by:

P A Crossman - Director

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Genuine Solutions Distribution 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. | 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.

| Related party exemption

| 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.

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of turnover and expenses during the reporting period.

| There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

| There is estimation uncertainty in calculating bad debt provisions. A full line by line review of Trade Debtors is carried out at the end of each month. Whilst every attempt is made to ensure the bad debt provision is as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

| Turnover

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

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2025, is being amortised evenly over its estimated useful life of five years.

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| Plant and machinery etc | - | 20% on cost

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS102 to all of its financial instruments.

| The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

| 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

| Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

| Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

| Other financial assets

| Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit and loss account. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

| Impairment of financial assets

| Financial assets are assessed for indicators of impairment at each reporting date.

| Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and present value of the future cash flows at the asset(s) original effective interest rate.

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit and loss account.

| Financial liabilities

| 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 the deduction of all its liabilities.

| Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

| Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

| Other financial instruments

| Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit and loss account. They are subsequently measured at fair value with changes in the profit and loss account.

| Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit and loss account. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

| Derecognition of financial instruments

| Derecognition of financial assets

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

| Derecognition of financial liabilities

| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

| 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.

| 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.

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Going concern

| The financial statements have been prepared on a going concern basis. The basis is considered appropriate by the directors.

| During the latter part of 2024 the Directors undertook a detailed strategic review of the Group that existed at that time. As a result of this and following detailed analysis, it was concluded that a formal restructuring process was in the best long-term interests of the Group. The Group’s main trading company entered administration in December 2024. In conjunction with this certain legacy liabilities were effectively removed and shareholders loans were renegotiated to provide a time frame to allow the company to trade effectively and profitably. In January 2025 the company acquired the trade and assets of the main trading company that entered administration. Trading recommenced in January 2025 under a new, simplified group structure, with continuity of service and staff.

| In the period since April 2024 the Group’s principal shareholder has introduced some £1.6m of loans. The primary shareholder has confirmed support will be provided for the foreseeable future based on the cash flow forecasts prepared to date.

| The Directors remain confident in the business's strategic direction and growth. Market dynamics in both mobile accessories and circular technology continue to evolve, presenting opportunities the company is well-positioned to capitalise on. The Directors believe that the company will be in a position to meet its liabilities as they fall due.

| The Directors are of the opinion that the above is sufficient to conclude that the company is a going concern.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 14 (2024 - NIL ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| Additions | 1,000 |  |

| At 31 December 2025 | 1,000 |  |

| AMORTISATION

| Charge for year | 200 |  |

| At 31 December 2025 | 200 |  |

| NET BOOK VALUE

| At 31 December 2025 | 800 |  |

GENUINE SOLUTIONS DISTRIBUTION LIMITED (REGISTERED NUMBER: 13023967) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| Additions | 10,075 |  |

| At 31 December 2025 | 10,075 |  |

| DEPRECIATION

| Charge for year | 2,015 |  |

| At 31 December 2025 | 2,015 |  |

| NET BOOK VALUE

| At 31 December 2025 | 8,060 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 229,989 |  | - |  |

| Other debtors | 31,457 |  | - |  |

261,446 |  | - |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 406,730 |  | - |  |

| Amounts owed to group undertakings | 257,677 |  | - |  |

| Taxation and social security | 63,746 |  | - |  |

| Other creditors | 76,081 |  | - |  |

804,234 |  | - |  |

8. | RELATED PARTY DISCLOSURES

| In January 2025, the entity purchased some of the trade and assets of Genuine Solutions Limited, another subsidiary in the group which entered administration.This included stock and book debt.

9. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Revolvex Group Limited.

Certified Accountants' Report to the Director

on the Unaudited Financial Statements of

Genuine Solutions Distribution 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 Genuine Solutions Distribution 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the director of Genuine Solutions Distribution Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Genuine Solutions Distribution Limited and state those matters that we have agreed to state to the director of Genuine Solutions Distribution Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Genuine Solutions Distribution 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 Genuine Solutions Distribution Limited. You consider that Genuine Solutions Distribution 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 Genuine Solutions Distribution 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.

A W Associates

Regus, Building 2

Guildford Business Park Road

Guildford

Surrey

GU2 8XG

Certified Accountants' Report to the Director

on the Unaudited Financial Statements of

Genuine Solutions Distribution Limited

11 May 2026