Axon Investments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Axon Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15909897 . The registered office is 35 Coventry Road, Ilford, Essex, IG1 4QR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:

Income from investment properties

Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.

Service charge income is recognised as revenue in the period to which it relates.

2.3. Investment Properties

Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.

Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

...CONTINUED

Page 3

Page 4

Axon Investments Limited

Notes to the Financial Statements (continued)

For the Period 21 August 2024 to 31 August 2025

2.4. Taxation - continued

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 2

4. Tangible Assets

	Investment Properties
	£
Cost
As at 21 August 2024	-
Additions	1,475,000

As at 31 August 2025	1,475,000

Net Book Value
As at 31 August 2025	1,475,000

As at 21 August 2024	-

The additions during the period represent three residential investment properties received from G. K. Claire Limited (Co. No. 01400696) on 18 February 2025 by way of a dividend in specie. The transaction formed part of a partition demerger by capital reduction effected under sections 641 to 644 of the Companies Act 2006. The properties have been recognised at the predecessor entity's book value, being the value stated at HM Land Registry on transfer, in accordance with FRS 102 Section 19 (group reconstructions — predecessor accounting).

The directors believe this carrying amount is not materially different from a professional market valuation at the balance sheet date.

Page 4

Page 5

Axon Investments Limited

Notes to the Financial Statements (continued)

For the Period 21 August 2024 to 31 August 2025

5. Debtors

	31 August 2025
	£
Due within one year
Prepayments and accrued income	1,144
Amounts owed by other related parties	184,116

	185,260

6. Creditors: Amounts Falling Due Within One Year

	31 August 2025
	£
Corporation tax	3,353
Accruals and deferred income	1,975

	5,328

7. Share Capital

	31 August 2025
Allotted, called up and fully paid	£
1,631,250 Ordinary shares of £ 1.00 each	1,631,250


Shares issued during the period:	£
8,600,000 Ordinary shares of £ 1.00 each	8,600,000


Shares disposed during the period:	£
6,968,750 Ordinary shares of £ 1.00 each	(6,968,750)

On 21 August 2024 the company was incorporated with 1 ordinary £1 share, fully paid in cash by Claire Group Holdings Limited (Co. No. 15909355).

On 11 December 2024, the company allotted a further 8,599,999 ordinary £1 shares to Claire Group Holdings Limited as consideration for the transfer of 200 ordinary £0.50 shares of G. K. Claire Limited (Co. No. 01400696), representing 100% of that company. The shares were issued at par as a non-cash consideration share-for-share exchange forming part of a group reconstruction.

On 19 February 2025 the company's issued share capital was reduced from £8,600,000 to £1,631,250 by the cancellation of 6,968,750 ordinary £1 shares. The reduction was effected by special resolution dated 19 February 2025 supported by a solvency statement from the directors, in accordance with sections 641 to 644 of the Companies Act 2006. The amount of capital cancelled (£6,968,750) was discharged by the transfer of the company's 100% holding in G. K. Claire Limited back to Claire Group Holdings Limited.

At 31 August 2025 the issued share capital comprised 1,631,250 ordinary £1 shares, all fully paid.

Page 5

Page 6

Axon Investments Limited

Notes to the Financial Statements (continued)

For the Period 21 August 2024 to 31 August 2025

8. Reserves

	Other reserves	Profit and Loss Account
	£	£
As at 21 August 2024	-	-
Profit for the period and total comprehensive income	-	14,294

Arising on shares issued during the period	-	-
Share capital reduction	-	-
Merger Reserves	23,068	-

As at 31 August 2025	23,068	14,294

Other reserves comprise a merger reserve of £23,068 arising on the capital reduction of 19 February 2025. The reserve represents the excess of share capital cancelled (£6,968,750) over the carrying value of the investment in G. K. Claire Limited transferred to Claire Group Holdings Limited (£6,945,683) in satisfaction of the cancellation. Consistent with the treatment of a group reconstruction under FRS 102 Section 19, the reserve is regarded as a capital reserve and is not distributable.

9. Related Party Transactions

Included in debtors due within one year is an amount of £184,116 owed from the company in which directors have substantial interest. The amount is interest free and receivable on demand.

Page 6

		31 August 2025
	Notes	£	£
FIXED ASSETS
Tangible Assets	4		1,475,000

			1,475,000
CURRENT ASSETS
Debtors	5	185,260
Cash at bank and in hand		13,680

		198,940
Creditors: Amounts Falling Due Within One Year	6	(5,328 )

NET CURRENT ASSETS (LIABILITIES)			193,612

TOTAL ASSETS LESS CURRENT LIABILITIES			1,668,612

NET ASSETS			1,668,612

CAPITAL AND RESERVES
Called up share capital	7		1,631,250
Other reserves			23,068
Profit and Loss Account			14,294

SHAREHOLDERS' FUNDS			1,668,612