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REGISTERED NUMBER: 11785868 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2025

for

Axal Holdings Ltd

| Axal Holdings Ltd (Registered number: 11785868) |

Contents of the Financial Statements

for the year ended 30 November 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Axal Holdings Ltd |

Company Information

for the year ended 30 November 2025

| DIRECTORS: | Mr A G Broadley

| Mr M Gascoigne

| Mr M J Gascoigne

| Mr D G Mccreadie

| SECRETARY: | Mrs L Broadley

| REGISTERED OFFICE: | Suite 10 Sandown House

| Sandbeck Way

| Wetherby

| West Yorkshire

| LS22 7DN

| REGISTERED NUMBER: | 11785868 (England and Wales)

| ACCOUNTANTS: | Royston Parkin Limited

| 2 President Buildings

| Savile Street East

| Sheffield

| South Yorkshire

| S4 7UQ

| Axal Holdings Ltd (Registered number: 11785868) |

Balance Sheet

30 November 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 4 |  | 4 |  |

Investment property | 5 | 2,182,500 |  | 2,158,566 |  |

2,182,504 |  | 2,158,570 |  |

CURRENT ASSETS

Debtors | 6 | 402,242 |  | 356,953 |  |

Cash at bank | 150,091 |  | 88,300 |  |

552,333 |  | 445,253 |  |

CREDITORS

Amounts falling due within one year | 7 | 143,273 |  | 199,201 |  |

NET CURRENT ASSETS | 409,060 |  | 246,052 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,591,564 |  | 2,404,622 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (1,384,413 | ) | (1,244,809 | ) |

PROVISIONS FOR LIABILITIES | 10 | (83,212 | ) | (81,475 | ) |

NET ASSETS | 1,123,939 |  | 1,078,338 |  |

| Axal Holdings Ltd (Registered number: 11785868) |

Balance Sheet - continued

30 November 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Fair value reserve | 11 | 437,904 |  | 428,817 |  |

Retained earnings | 685,935 |  | 649,421 |  |

1,123,939 |  | 1,078,338 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 15 April 2026 and were signed on its behalf by:

Mr A G Broadley - Director | Mr D G Mccreadie - Director

Mr M Gascoigne - Director | Mr M J Gascoigne - Director

| Axal Holdings Ltd (Registered number: 11785868) |

Notes to the Financial Statements

for the year ended 30 November 2025

1. | STATUTORY INFORMATION

| Axal Holdings 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 as modified by the revaluation of certain assets.

| Turnover

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

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| 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.

3. | EMPLOYEES AND DIRECTORS

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

| Axal Holdings Ltd (Registered number: 11785868) |

Notes to the Financial Statements - continued

for the year ended 30 November 2025

4. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 December 2024

| and 30 November 2025 | 4 |  |

| NET BOOK VALUE

| At 30 November 2025 | 4 |  |

| At 30 November 2024 | 4 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 December 2024 | 2,158,566 |  |

| Additions | 14,846 |  |

| Revaluations | 9,088 |  |

| At 30 November 2025 | 2,182,500 |  |

| NET BOOK VALUE

| At 30 November 2025 | 2,182,500 |  |

| At 30 November 2024 | 2,158,566 |  |

| Investment property has been revalued by the directors to be current estimated resale values.

| Fair value at 30 November 2025 is represented by:

£ |

| Valuation in 2021 | 962,986 |  |

| Valuation in 2022 | 951,617 |  |

| Valuation in 2023 | (30,593 | ) |

| Valuation in 2024 | 274,556 |  |

| Valuation in 2025 | 23,934 |  |

2,182,500 |  |

| If all properties had not been revalued they would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 1,744,596 |  | 1,729,749 |  |

| Axal Holdings Ltd (Registered number: 11785868) |

Notes to the Financial Statements - continued

for the year ended 30 November 2025

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

2025 | 2024 |

£ | £ |

| Amount due from 1 connected co | 402,242 |  | 356,953 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 6,083 |  | 10,000 |  |

| Trade creditors | 1,882 |  | 5,169 |  |

| Tax | 6,314 |  | 2,927 |  |

| Directors' current accounts | 125,719 |  | 179,185 |  |

| Accruals and deferred income | 3,275 |  | 1,920 |  |

143,273 |  | 199,201 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans - 1-2 years | - |  | 6,083 |  |

| Bank loans more 5 yrs non-inst | 1,384,413 |  | 1,238,726 |  |

1,384,413 |  | 1,244,809 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Bank loans more 5 yrs non-inst | 1,384,413 |  | 1,238,726 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 1,390,496 |  | 1,254,809 |  |

| Fixed charges over the investment properties of the company.

10. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 83,212 |  | 81,475 |  |

| Axal Holdings Ltd (Registered number: 11785868) |

Notes to the Financial Statements - continued

for the year ended 30 November 2025

10. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1 December 2024 | 81,475 |  |

| Provided during year | 1,737 |  |

| Balance at 30 November 2025 | 83,212 |  |

11. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 December 2024 | 428,817 |  |

| Revaluation to Fair Value | 9,087 |  |

| At 30 November 2025 | 437,904 |  |