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REGISTERED NUMBER: 08340810 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

| FOR |

| ELECTRA NETWORKS LIMITED |

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Chartered Accountants' Report | 8 |

| ELECTRA NETWORKS LIMITED |

COMPANY INFORMATION

for the Year Ended 31 December 2025

| DIRECTORS: | Mr I C Brotherston

| Mrs R Masih

| REGISTERED OFFICE: | 4 Bracknell Enterprise Centre

| Easthampstead Road

| Bracknell

| Berkshire

| RG12 1NF

| REGISTERED NUMBER: | 08340810 (England and Wales)

| ACCOUNTANTS: | Rothmans LLP

| Chartered Accountants

| 10 St Ann Street

| Salisbury

| Wiltshire

| SP1 2DN

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810) |

BALANCE SHEET

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 163,775 |  | 193,638 |  |

CURRENT ASSETS

Stocks | 44,500 |  | 54,100 |  |

Debtors | 5 | 1,333,767 |  | 1,363,329 |  |

Cash at bank and in hand | 999,036 |  | 134,382 |  |

2,377,303 |  | 1,551,811 |  |

CREDITORS

Amounts falling due within one year | 6 | 1,191,825 |  | 810,819 |  |

NET CURRENT ASSETS | 1,185,478 |  | 740,992 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,349,253 |  | 934,630 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (72,184 | ) | (92,047 | ) |

PROVISIONS FOR LIABILITIES | (27,621 | ) | (26,782 | ) |

NET ASSETS | 1,249,448 |  | 815,801 |  |

CAPITAL AND RESERVES

Called up share capital | 4,911 |  | 4,911 |  |

Share premium | 45,495 |  | 45,495 |  |

Capital redemption reserve | 49 |  | 49 |  |

Retained earnings | 1,198,993 |  | 765,346 |  |

1,249,448 |  | 815,801 |  |

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.

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 8 May 2026 and were signed on its behalf by:

Mr I C Brotherston - Director

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810) |

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Electra Networks 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.

| Revenue recognition

| Revenue represents the value of telecom services provided to the company's clients in the year and is measured at the fair value of the consideration received or receivable for these services.

| Turnover is recognised upon completion and signing off of works by clients, at which time the significant risks and rewards associated with the provision of the services transfers to the client.

| Profit is recognised on long term contracts when the final outcome can be assessed with reasonable certainty by including turnover and related costs within the profit and loss account dependant upon the stage of completion of the contract at the balance sheet date.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery | - | 20% on cost and 10% on cost

| Fixtures and fittings | - | 10% on cost

| Motor vehicles | - | 25% on cost

| Tangible fixed assets are stated at cost, being purchase price together with any incidental costs of acquisition, less accumulated depreciation.

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Stocks

| The company operates a just in time ordering system to purchase major stock items required to complete contracts. Due to the nature of telecommunications network migration the company also holds stocks of consumable parts that are used in all migrations.

| As stock, including consumable parts, is not subject to physical obsolescence it is valued 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.

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Monetary items 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.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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.

| Debtors

| Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the profit and loss account when there is objective evidence that the asses is impaired.

| Cash and cash equivalents

| These comprise cash at bank and other short-term highly liquid bank deposits.

| Creditors

| Creditors are not interest bearing and are stated at their nominal value.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 29 (2024 - 26 ) .

4. | TANGIBLE FIXED ASSETS

| Fixtures

| Short |  | Plant and |  | and

| leasehold |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 January 2025 | 7,082 |  | 38,175 |  | 14,635 |  |

| Additions | - |  | 531 |  | - |  |

| Disposals | - |  | - |  | - |  |

| At 31 December 2025 | 7,082 |  | 38,706 |  | 14,635 |  |

| DEPRECIATION

| At 1 January 2025 | 7,082 |  | 35,327 |  | 14,635 |  |

| Charge for year | - |  | 1,699 |  | - |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 December 2025 | 7,082 |  | 37,026 |  | 14,635 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  | 1,680 |  | - |  |

| At 31 December 2024 | - |  | 2,848 |  | - |  |

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

4. | TANGIBLE FIXED ASSETS - continued

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 393,999 |  | 24,470 |  | 478,361 |  |

| Additions | 81,929 |  | 2,664 |  | 85,124 |  |

| Disposals | (34,205 | ) | - |  | (34,205 | ) |

| At 31 December 2025 | 441,723 |  | 27,134 |  | 529,280 |  |

| DEPRECIATION

| At 1 January 2025 | 212,702 |  | 14,977 |  | 284,723 |  |

| Charge for year | 98,338 |  | 6,399 |  | 106,436 |  |

| Eliminated on disposal | (25,654 | ) | - |  | (25,654 | ) |

| At 31 December 2025 | 285,386 |  | 21,376 |  | 365,505 |  |

| NET BOOK VALUE

| At 31 December 2025 | 156,337 |  | 5,758 |  | 163,775 |  |

| At 31 December 2024 | 181,297 |  | 9,493 |  | 193,638 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

| Motor

| vehicles

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 129,001 |  |

| DEPRECIATION

| At 1 January 2025 | 42,491 |  |

| Charge for year | 33,218 |  |

| At 31 December 2025 | 75,709 |  |

| NET BOOK VALUE

| At 31 December 2025 | 53,292 |  |

| At 31 December 2024 | 86,510 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 1,155,970 |  | 972,057 |  |

| Other debtors | 44,154 |  | 16,648 |  |

| Directors' current accounts | - |  | 210,250 |  |

| Tax | 70,959 |  | 114,682 |  |

| Prepayments | 62,684 |  | 49,692 |  |

1,333,767 |  | 1,363,329 |  |

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts and finance leases (see note 8) | 40,191 |  | 32,262 |  |

| Trade creditors | 382,421 |  | 489,510 |  |

| Tax | 123,849 |  | 70,959 |  |

| Social security and other taxes | 297,205 |  | 39,989 |  |

| VAT | 272,895 |  | 136,586 |  |

| Other creditors | 40,223 |  | 14,136 |  |

| Directors' current accounts | 5,030 |  | 530 |  |

| Accrued expenses | 30,011 |  | 26,847 |  |

1,191,825 |  | 810,819 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Hire purchase contracts and finance leases (see note 8) | 72,184 |  | 92,047 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase contracts |  | Finance leases |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Net obligations repayable:

| Within one year | 21,112 |  | 15,294 |  | 19,079 |  | 16,968 |  |

| Between one and five years | 42,523 |  | 43,307 |  | 29,661 |  | 48,740 |  |

63,635 |  | 58,601 |  | 48,740 |  | 65,708 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 76,907 |  | 68,491 |  |

| Between one and five years | 144,587 |  | 175,000 |  |

221,494 |  | 243,491 |  |

9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 December 2025 and

| 31 December 2024:

|  | 2025 |  |  | 2024 |  |

|  | £ |  |  | £ |  |

| Balance outstanding at the start of year |  | 210,250 |  |  | - |  |

| Amounts advanced |  | - |  |  | 210,250 |  |

| Amounts repaid |  | (210,250 | ) |  | - |  |

| Balance outstanding at the end of year |  | - |  |  | 210,250 |  |

| The loan was repayable on demand and subject to interest at commercial rates.

ELECTRA NETWORKS LIMITED (REGISTERED NUMBER: 08340810) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

10. | SHARE-BASED PAYMENT TRANSACTIONS

| Enterprise Management Incentive (EMI) Employee Share Option Scheme

| Key employees participate in the Enterprise Management Incentive employee share option scheme which provides the employees the right to purchase shares.

| The options were granted with an exercise price of £63.32, are exercisable at the discretion of The Company Directors and expire 10 years after the grant date. Vesting of the options is subject to the employee continuing to work for the company for at least 25 hours a week or 75% of their working time.

| Share Option Movements during the year ended 31 December 2025

|  | Number |  | Weighted average exercise price |  |

| £ |  |

| Granted in year |  | 243 |  | 63.32 |  |

| Exercised in year |  | - |  | - |  |

| Outstanding and exercisable at 31.12.25 |  | 243 |  | 63.32 |  |

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

ELECTRA NETWORKS 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 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 Electra Networks Limited for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 Electra Networks Limited, 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 Electra Networks Limited and state those matters that we have agreed to state to the Board of Directors of Electra Networks 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 Electra Networks Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Electra Networks 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 Electra Networks Limited. You consider that Electra Networks 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 Electra Networks 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.

Rothmans LLP

Chartered Accountants

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

13 May 2026