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REGISTERED NUMBER: 07017740 (England and Wales)

| Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Global Display Solutions Limited |

| Global Display Solutions Limited (Registered number: 07017740) |

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 |

| Global Display Solutions Limited |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | G Cariolato

| R E Swetman

| REGISTERED OFFICE: | Unit 9 BSS House

| Cheney Manor Industrial Estate

| Swindon

| Wiltshire

| SN2 2PJ

| REGISTERED NUMBER: | 07017740 (England and Wales)

| Global Display Solutions Limited (Registered number: 07017740) |

Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 2,353 |  | 6,485 |  |

CURRENT ASSETS

Stocks | 123,227 |  | 282,588 |  |

Debtors | 6 | 1,344,973 |  | 1,736,178 |  |

Cash at bank and in hand | 144,264 |  | 15,912 |  |

1,612,464 |  | 2,034,678 |  |

CREDITORS

Amounts falling due within one year | 7 | 714,355 |  | 1,232,537 |  |

NET CURRENT ASSETS | 898,109 |  | 802,141 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 900,462 |  | 808,626 |  |

PROVISIONS FOR LIABILITIES | 2,144 |  | 19,940 |  |

NET ASSETS | 898,318 |  | 788,686 |  |

CAPITAL AND RESERVES

Called up share capital | 500,000 |  | 500,000 |  |

Retained earnings | 398,318 |  | 288,686 |  |

SHAREHOLDERS' FUNDS | 898,318 |  | 788,686 |  |

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 4 June 2026 and were signed on its behalf by:

R E Swetman - Director

| Global Display Solutions Limited (Registered number: 07017740) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Global Display Solutions 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. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

| Going concern

| The directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook and has sufficient resources and financial support from its parent company to continue to operate as a going concern. The directors have a reasonable expectation that the company will be able to continue in operation and meet its liabilities in the coming twelve months. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

| 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.

| Turnover

| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

| Sale of goods

| Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

| - the company has transferred the significant risks and rewards of ownership to the buyer;

| - the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

| - the amount of turnover can be measured reliably;

| - it is probable that the company will receive the consideration due under the transaction; and

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Rendering of services

| Turnover from a contract to provide services is recognised in the year in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

| - the amount of turnover can be measured reliably;

| - it is probable that the company will receive the consideration due under the contract;

| - the stage of completion of the contract at the end of the reporting year can be measured reliably; and

| - the costs incurred and the costs to complete the contract can be measured reliably.

| Global Display Solutions Limited (Registered number: 07017740) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Sales income includes turnover earned under a wide variety of contracts to supply digital signage displays, as well as installation and repair services. Turnover is recognised as contract activity progresses to the extent that the company obtains the right to consideration in exchange for its performance under these contracts and so that for incomplete contracts it reflects the partial performance of the contractual obligations. It is measured at the fair value of the right to consideration, by reference to the value of work performed, based on amounts chargeable to customers, excluding VAT.

| Turnover earned but not billed to customers is included in accrued income and amounts billed in advance of the revenue being recognised are included in deferred income. Sales of goods are recognised on transfer of title of the goods on dispatch.

| 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 | - | 50% on straight line basis

| Fixtures and fittings | - | 25% on straight line basis

| Computer equipment | - | 50% on straight line basis

| Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

| Depreciation is charged from when an asset is bought into use. Repairs and maintenance costs are expensed as incurred.The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

| Subsequent additions and major components

| Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and the cost can be measured reliably.

| The carrying amount of any replaced component is derecognised. Major components are treated as a separate asset when they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

| Derecognition

| Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

| Stocks

| Stock is stated at the lower of cost and estimated selling price less costs to sell. Stock is recognised as an expense in the period in which the related revenue is recognised.

| Cost is determined on the first -in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the stock to its present location and condition.

| At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

| Global Display Solutions Limited (Registered number: 07017740) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company is applying section 11 and 12 of FRS 102 in respect of recognition and measurement of financial statements.

| Financial assets

| Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, 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.

| Such assets are subsequently carried at amortised cost

| using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

| Financial liabilities

| Basic financial liabilities, including trade and other payables, bank loans and overdrafts, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| 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

| 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.

| Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

| Global Display Solutions Limited (Registered number: 07017740) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Foreign currencies

| Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

| At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

| Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

| Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within finance (expense)/income. All other foreign exchange gains and losses are presented in the profit and loss account within administrative expenses.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Operating leases

| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

| Lease incentives

| Incentives received to enter into a finance lease reduce the fair value of the asset and are included in the calculation of present value of minimum lease payments.

| Incentives received to enter into an operating lease are credited to the profit and loss account, to reduce the lease expense, on a straight-line basis over the period of the lease.

| Operating leases should be expensed on a straight-line basis unless another systematic basis is representative of the time pattern of the user’s benefit or the payments are structured to increase in line with expected inflation to compensate for the lessor’s expected cost inflationary cost increases. This similarly applies to related lease incentives.

| Pension costs and other post-retirement benefits

| The company provides a range of benefits to employees, including paid holiday arrangements and defined contribution pension plans.

| Global Display Solutions Limited (Registered number: 07017740) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| Short term benefits

| Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

| Defined contribution pension plans

| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The obligations are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

| Interest income

| Interest income is recognised using the effective interest rate method.

| Finance costs

| Finance costs are charged to the profit and loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

| Cash and cash equivalents

| Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

| Debtors

| Debtors include trade debtors and certain other financial instruments, prepayments, accrued income and deferred tax assets. Prepayments are payments made for goods or services that will be received in the future. These are initially recorded as assets and amortised over time as the benefit of the prepaid expense is realised. Accrued income corresponds to the revenue earned during the period but not yet billed to or collected from the customer.

| Creditors

| Creditors include trade creditors and certain other short and long-term financial instruments. Payments received on account corresponds to advance payments from customers for goods or services that have not yet been delivered or recognised as revenue.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 12 (2024 - 16 ) .

| Global Display Solutions Limited (Registered number: 07017740) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Computer |

| machinery |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2025 | 52,821 |  | 39,604 |  | 37,821 |  | 130,246 |  |

| Additions | 90 |  | 1,175 |  | - |  | 1,265 |  |

| Disposals | (1,233 | ) | (33,901 | ) | - |  | (35,134 | ) |

| Reversal of impairments | - |  | 33,901 |  | - |  | 33,901 |  |

| At 31 December 2025 | 51,678 |  | 40,779 |  | 37,821 |  | 130,278 |  |

| DEPRECIATION

| At 1 January 2025 | 47,922 |  | 39,592 |  | 36,247 |  | 123,761 |  |

| Charge for year | 3,627 |  | 74 |  | 1,491 |  | 5,192 |  |

| Eliminated on disposal | (1,028 | ) | (7,419 | ) | - |  | (8,447 | ) |

| Reversal of impairments | - |  | 7,419 |  | - |  | 7,419 |  |

| At 31 December 2025 | 50,521 |  | 39,666 |  | 37,738 |  | 127,925 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,157 |  | 1,113 |  | 83 |  | 2,353 |  |

| At 31 December 2024 | 4,899 |  | 12 |  | 1,574 |  | 6,485 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 70,370 |  | 242,179 |  |

| Amounts owed by group undertakings | 841,529 |  | 946,699 |  |

| Other debtors | 52,449 |  | 51,221 |  |

| VAT | - |  | 83,301 |  |

| Deferred tax asset | 344,491 |  | 380,188 |  |

| Prepayments | 36,134 |  | 32,590 |  |

1,344,973 |  | 1,736,178 |  |

| Amounts owed by group undertakings are unsecured, interest free and are repayable on demand.

| Included within the deferred tax balance is an amount of £244,191 (2024: £344,491) expected to be utilised in more than 1 year.

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

2025 | 2024 |

£ | £ |

| Trade creditors | 76,178 |  | 41,685 |  |

| Amounts owed to group undertakings | 445,572 |  | 1,082,132 |  |

| Social security and other taxes | 8,913 |  | 12,926 |  |

| VAT | 37,796 |  | - |  |

| Other creditors | 399 |  | 2,210 |  |

| Accruals and deferred income | 145,497 |  | 93,584 |  |

714,355 |  | 1,232,537 |  |

| Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.

| Global Display Solutions Limited (Registered number: 07017740) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | LEASING AGREEMENTS

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

2025 | 2024 |

£ | £ |

| Within one year | 13,163 |  | 32,235 |  |

| Between one and five years | 5,216 |  | 18,379 |  |

18,379 |  | 50,614 |  |

9. | SECURED DEBTS

| The company's bank has a fixed and floating charge over the company's assets in relation to a guarantee provided by the bank in respect of the payment of certain outstanding trade debtor balances.

10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| David Iain Black (Senior Statutory Auditor)

| for and on behalf of Sumer Auditco Limited

11. | RELATED PARTY DISCLOSURES

| No related party transactions took place with non-wholly owned subsidiaries within the group of which the company is a member:

12. | ULTIMATE CONTROLLING PARTY

| The ultimate parent company is GDS Holding S.r.l a company registered in Italy. This company is the smallest group for which consolidated financial statements are drawn up of which the company is a member.

| A copy of the consolidated financial statements can be obtained from GDS Holding S.r.l at via Tezze 20, Cornedo Vicentino (Vicenza), Italy.