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REGISTERED NUMBER: 03827610 (England and Wales)

| GRIERSON DICKENS LIMITED |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 28 FEBRUARY 2026 |

GRIERSON DICKENS LIMITED (REGISTERED NUMBER: 03827610)

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 28 February 2026

Page |

Company Information | 1 |

Balance Sheet | 2 |

Statement of Changes in Equity | 4 |

Notes to the Financial Statements | 5 |

Chartered Accountants' Report | 9 |

GRIERSON DICKENS LIMITED

COMPANY INFORMATION

for the year ended 28 February 2026

| DIRECTORS: | J G Dickens

| G J Parker

| J Dickens

| B P Kemmish

| O J M Jennings

| SECRETARY: | O J M Jennings

| REGISTERED OFFICE: | 10 St George's Yard

| Farnham

| Surrey

| GU9 7LW

| REGISTERED NUMBER: | 03827610 (England and Wales)

| ACCOUNTANTS: | Bessler Hendrie LLP

| Chartered Accountants

| Ashbourne House

| The Guildway

| Old Portsmouth Road

| Guildford

| Surrey

| GU3 1LR

GRIERSON DICKENS LIMITED (REGISTERED NUMBER: 03827610)

BALANCE SHEET

28 February 2026

2026 | 2025 |

| Notes | £ | £

FIXED ASSETS

Tangible assets | 4 | 9,519 |  | 11,817 |  |

CURRENT ASSETS

Debtors | 5 | 555,113 |  | 467,766 |  |

Cash at bank | 675,775 |  | 582,534 |  |

1,230,888 |  | 1,050,300 |  |

CREDITORS

Amounts falling due within one year | 6 | (517,884 | ) | (420,415 | ) |

NET CURRENT ASSETS | 713,004 |  | 629,885 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 722,523 |  | 641,702 |  |

PROVISIONS FOR LIABILITIES | - |  | (1,050 | ) |

NET ASSETS | 722,523 |  | 640,652 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 10,002 |  | 10,002 |  |

Retained earnings | 712,521 |  | 630,650 |  |

SHAREHOLDERS' FUNDS | 722,523 |  | 640,652 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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.

GRIERSON DICKENS LIMITED (REGISTERED NUMBER: 03827610)

BALANCE SHEET - continued

28 February 2026

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 21 May 2026 and were signed on its behalf by:

J Dickens - Director

GRIERSON DICKENS LIMITED (REGISTERED NUMBER: 03827610)

STATEMENT OF CHANGES IN EQUITY

for the year ended 28 February 2026

Called up |  |

share | Retained | Total |

capital | earnings | equity |

| £ | £ | £

Balance at 1 March 2024 | 10,002 |  | 525,876 |  | 535,878 |  |

Changes in equity

Contribution to employee ownership trust | - |  | (430,700 | ) | (430,700 | ) |

Total comprehensive income | - |  | 535,474 |  | 535,474 |  |

Balance at 28 February 2025 | 10,002 |  | 630,650 |  | 640,652 |  |

Changes in equity

Contribution to employee ownership trust | - |  | (444,100 | ) | (444,100 | ) |

Total comprehensive income | - |  | 525,971 |  | 525,971 |  |

Balance at 28 February 2026 | 10,002 |  | 712,521 |  | 722,523 |  |

GRIERSON DICKENS LIMITED (REGISTERED NUMBER: 03827610)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 28 February 2026

1. | STATUTORY INFORMATION

| Grierson Dickens 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.

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.

| Turnover

| Turnover represents amounts of commissions received and fees receivable for services provided within the normal course of business, net of VAT. Turnover in respect of services provided is taken appropriate to the stage of completion when the outcome of the contract can be assessed with reasonable certainty.

| Tangible fixed assets

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

| Leasehold improvements - Over the period of the lease

| Computer equipment - 33% Straight Line

| Fixture and fittings - 15% Reducing Balance

| Tangible fixed assets are stated at their historical cost price less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date.

| On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in profit and loss and is included in administrative expenses.

| Taxation

| Current tax is the amount of corporation tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements.

| Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

GRIERSON DICKENS LIMITED (REGISTERED NUMBER: 03827610)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2026

2. | ACCOUNTING POLICIES - continued

| 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.

| Operating lease commitments

| Rentals paid under operating leases are charged to the income statement on a straight line basis over the lease term.

| Distributions to equity holders

| Distributions to the Grierson Dickens Employee Ownership Trust are treated as capital contributions and are recognised in the statement of changes in equity.

| Financial instruments

| Financial instruments are classified by the directors as basic or non-basic, following the conditions in FRS102 section 11. Basic financial instruments are recognised at amortised cost using the effective interest rate method. The company has no non-basic financial instruments.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 12 (2025 - 11 ) .

4. | TANGIBLE FIXED ASSETS

Plant and |

Land and | machinery |

buildings | etc | Totals |

| £ | £ | £

| COST

| At 1 March 2025 | 5,693 |  | 44,662 |  | 50,355 |  |

| Additions | - |  | 2,109 |  | 2,109 |  |

| At 28 February 2026 | 5,693 |  | 46,771 |  | 52,464 |  |

| DEPRECIATION

| At 1 March 2025 | 5,693 |  | 32,845 |  | 38,538 |  |

| Charge for year | - |  | 4,407 |  | 4,407 |  |

| At 28 February 2026 | 5,693 |  | 37,252 |  | 42,945 |  |

| NET BOOK VALUE

| At 28 February 2026 | - |  | 9,519 |  | 9,519 |  |

| At 28 February 2025 | - |  | 11,817 |  | 11,817 |  |

GRIERSON DICKENS LIMITED (REGISTERED NUMBER: 03827610)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2026

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

2026 | 2025 |

| £ | £

| Trade debtors | 119,897 |  | 106,373 |  |

| Work in progress | 267,684 |  | 225,941 |  |

| Other debtors | 167,532 |  | 135,452 |  |

555,113 |  | 467,766 |  |

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

2026 | 2025 |

| £ | £

| Trade creditors | 428 |  | 567 |  |

| Taxation and social security | 285,994 |  | 271,895 |  |

| Other creditors | 231,462 |  | 147,953 |  |

517,884 |  | 420,415 |  |

7. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2026 | 2025 |

| £ | £

| Within one year | 22,730 |  | 25,000 |  |

| Between one and five years | - |  | 17,708 |  |

22,730 |  | 42,708 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2026 | 2025 |

value: |  | £ | £

| 10,000 | Ordinary | 1 | 10,000 |  | 10,000 |  |

| 2 | Redeemable preference shares | 1 | 2 |  | 2 |  |

10,002 |  | 10,002 |  |

| The redeemable preference shares confer no voting rights, unless under exceptional circumstances and grant no right to a dividend. The shares are to be redeemed at par, there is no fixed redemption date and the company may require redemption once the conditions detailed in the Articles of Association have been satisfied.

GRIERSON DICKENS LIMITED (REGISTERED NUMBER: 03827610)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2026

9. | POST BALANCE SHEET EVENTS

| Since the balance sheet date, the company has made capital contributions to the Grierson Dickens Employee Ownership Trust of £288,700 to enable the trust to make payments under the Share Purchase Agreement dated 28 February 2023.

10. | ULTIMATE CONTROLLING PARTY

| As at the reporting date, Grierson Dickens Trustees Limited holds 100% of the issued shares as trustees, on behalf of The Grierson Dickens Employee Ownership Trust. The Trust holds the shares under the Trust Deed for the benefit of all eligible employees and as such, in the opinion of the directors, there is no single controlling party.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

GRIERSON DICKENS 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 Grierson Dickens Limited for the year ended 28 February 2026 which comprise the Income Statement, 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 Grierson Dickens 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 Grierson Dickens Limited and state those matters that we have agreed to state to the Board of Directors of Grierson Dickens 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 Grierson Dickens Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Grierson Dickens 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 Grierson Dickens Limited. You consider that Grierson Dickens 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 Grierson Dickens 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.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.

Bessler Hendrie LLP

Chartered Accountants

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

GRIERSON DICKENS LIMITED

21 May 2026