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REGISTERED NUMBER: 10356580 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

HLM GROUP LTD

| HLM GROUP LTD (REGISTERED NUMBER: 10356580) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| HLM GROUP LTD |

COMPANY INFORMATION

for the Year Ended 31 December 2025

| DIRECTORS: | Mr D L Mitson

| Mrs V L Mitson

| REGISTERED OFFICE: | 4 Grovelands

| Boundary Way

| Hemel Hempstead

| Hertfordshire

| HP2 7TE

| REGISTERED NUMBER: | 10356580 (England and Wales)

| ACCOUNTANTS: | Kings Chartered Accountants

| 4 Grovelands

| Boundary Way

| Hemel Hempstead

| Hertfordshire

| HP2 7TE

| HLM GROUP LTD (REGISTERED NUMBER: 10356580) |

BALANCE SHEET

31 December 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 700 |  | 700 |  |

CURRENT ASSETS

Debtors | 5 | 4,142,205 |  | 4,262,979 |  |

Cash at bank and in hand | 10,415 |  | 22,517 |  |

4,152,620 |  | 4,285,496 |  |

CREDITORS

Amounts falling due within one year | 6 | 765,568 |  | 574,443 |  |

NET CURRENT ASSETS | 3,387,052 |  | 3,711,053 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,387,752 |  | 3,711,753 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 2,556,276 |  | 2,794,922 |  |

NET ASSETS | 831,476 |  | 916,831 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 118 |  | 118 |  |

Share premium | 11 | 1,499,983 |  | 1,499,983 |  |

Retained earnings | 11 | (668,625 | ) | (583,270 | ) |

SHAREHOLDERS' FUNDS | 831,476 |  | 916,831 |  |

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.

| HLM GROUP LTD (REGISTERED NUMBER: 10356580) |

BALANCE SHEET - continued

31 December 2025

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 June 2026 and were signed on its behalf by:

Mr D L Mitson - Director

| HLM GROUP LTD (REGISTERED NUMBER: 10356580) |

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| HLM Group 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.

| 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.

| Preparation of consolidated financial statements

| The financial statements contain information about HLM Group LTD as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including loans from fellow group undertakings, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| HLM GROUP LTD (REGISTERED NUMBER: 10356580) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

4. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 700 |  |

| NET BOOK VALUE

| At 31 December 2025 | 700 |  |

| At 31 December 2024 | 700 |  |

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Aspen Animal Health Ltd

| Registered office: 4 Grovelands Boundary Way, Hemel Hempstead, Hertfordshire, England, HP2 7TE

| Nature of business: Manufacture of prepared feeds for farm animals

| %

| Class of shares: | holding |

| Ordinary Share | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 538,142 |  | 375,136 |  |

| Profit for the year | 163,006 |  | 75,838 |  |

| HLM GROUP LTD (REGISTERED NUMBER: 10356580) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

4. | FIXED ASSET INVESTMENTS - continued

| Oaklands Animal Health Ltd

| Registered office: 4 Grovelands Boundary Way, Hemel Hempstead, Hertfordshire,England, HP2 7TE

| Nature of business: Manufacture of prepared pet food.

| %

| Class of shares: | holding |

| Ordinary shares | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 494,380 |  | 30,800 |  |

| Profit for the year | 56,630 |  | 24,924 |  |

| Westgate EFI Global Ltd

| Registered office: 4 Grovelands Boundary Way, Hemel Hempstead, Hertfordshire,England, HP2 7TE

| Nature of business: Wholesale trade

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | (917,148 | ) | (917,148 | ) |

| Loss for the year | - |  | (125,328 | ) |

| Nourish Animal Health Ltd

| Registered office: 4 Grovelands Boundary Way, Hemel Hempstead, Hertfordshire,England, HP2 7TE

| Nature of business: Manufacture of prepared pet foods

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 100 |  | 100 |  |

| Science Supplements Inc.

| Registered office: 1209 N Orange St, Wilmington, DE 19801, United States

| Nature of business: Wholesale equine supplements

| %

| Class of shares: | holding |

| Common | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 100 |  | 100 |  |

| Science Supplements Ltd

| Registered office: 4 Grovelands Boundary Way, Hemel Hempstead, Hertfordshire,England, HP2 7TE

| Nature of business: Manufacture of prepared pet foods

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 100 |  | 100 |  |

| HLM GROUP LTD (REGISTERED NUMBER: 10356580) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

4. | FIXED ASSET INVESTMENTS - continued

| Science Supplements Equestrian Ltd

| Registered office: 4 Grovelands Boundary Way, Hemel Hempstead, Hertfordshire,England, HP2 7TE

| Nature of business: Manufacture of prepared feeds for farm animals

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | 100 |  | 100 |  |

| Evoke Country & Equestrian Ltd

| Registered office: 4 Grovelands, Boundary Way, Hemel Hempstead, Hertfordshire, HP2 7TE

| Nature of business: Licensing and marketing of clothing brands

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | (234,088 | ) | (115,884 | ) |

| Loss for the year | (118,166 | ) | (143,390 | ) |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Amounts owed by group undertakings | 4,142,205 |  | 4,262,979 |  |

| Included within amounts owed from group undertakings is £4,142,205 (2024: £4,262,979) due in more than one year.

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Other loans (see note 8) | 240,000 |  | 240,000 |  |

| Amounts owed to group undertakings | 300 |  | 300 |  |

| Directors' current accounts | 525,268 |  | 334,143 |  |

765,568 |  | 574,443 |  |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Other loans (see note 8) | 2,556,276 |  | 2,794,922 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Other loans more 5yrs instal | 1,796,276 |  | 1,834,922 |  |

| HLM GROUP LTD (REGISTERED NUMBER: 10356580) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

8. | LOANS

| An analysis of the maturity of loans is given below:

| 31.12.25 |  | 31.12.24

£ | £ |

| Amounts falling due within one year or on demand:

| Other loans | 240,000 |  | 240,000 |  |

| Amounts falling due between one and two years:

| Other loans - 1-2 years | 240,000 |  | 240,000 |  |

| Amounts falling due between two and five years:

| Other loans - 2-5 years | 520,000 |  | 720,000 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Other loans more 5yrs instal | 1,796,276 |  | 1,834,922 |  |

9. | SECURED DEBTS

| At 31 December 2025 the assets of the company were subject to a registered debenture that forms security for loans in the parent undertaking.

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.25 |  | 31.12.24

| value: | £ | £ |

| 1,176 | Ordinary shares | £0.10 | 118 |  | 118 |  |

11. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 January 2025 | (583,270 | ) | 1,499,983 |  | 916,713 |  |

| Deficit for the year | (85,355 | ) | (85,355 | ) |

| At 31 December 2025 | (668,625 | ) | 1,499,983 |  | 831,358 |  |