The principal activity of the Company is to provide administration and sales assistance to MUFG Investor Services Group of companies (the “Group”).

There were no dividend payments during 2025 (2024: nil).

None of the Directors or secretary of the Company who held office at December 31, 2025 had any beneficial interests in the ordinary shares of the Company, or of Mitsubishi UFJ Financial Group, Inc (the ultimate parent undertaking) or any of its group companies. There were no Director loans held during the year or at year end.

The Company made no political donations or incurred any political expenditure during the year.

So far as the directors’ are aware, there is no relevant audit information of which the Company’s statutory auditors are unaware, and the directors have taken all the steps they ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the Company’s statutory auditors are aware of that information.

The directors are responsible for preparing the Directors’ Report and Company’s financial statements in accordance with applicable law and regulations.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report.

The other information comprises the information included in the Directors' report and Financial statements, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the Directors' report and Financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Under the Companies Act 2006 we are required to report in respect of the following matters if, in our opinion:

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

There have been no changes to accounting policy in these financial statements.

The financial statements are prepared on the historical cost basis.

These accounts have been prepared using the going concern basis. The use of the going concern basis of accounting is appropriate as there are no materials uncertainties related to events or conditions that may cast significant doubt about the ability of the Company to continue as a going concern.

Pounds sterling is the functional currency of the Company. This is the currency of the primary economic environment in which the Company operates.

Transactions in foreign currencies are translated to the Company’s functional currency at the foreign exchange rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign exchange rate prevailing at that date.

Cash and cash equivalents comprise cash balances and call deposits. Cash and cash equivalents are carried at amortised cost which approximates its fair value

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

A provision is recognised in the balance sheet when the Company has a present legal or constructive obligation as a result of a past event, that can be reliably measured, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Operating expenses include staff costs, property costs, travel, marketing, legal and professional fees and are recognised on the accrual basis.

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. The following timing differences are not provided for: differences between accumulated depreciation and tax allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

With regards to the voting rights of shareholders the Company abides by Section 284, Votes: General Rules, of the Companies Act 2006 (the “Act”).

With regards to distributions the Company abides by the provisions applicable to it as set out in Part 23 of the Act.

There were no contingencies during the year (2024: £nil).