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REGISTERED NUMBER: 02315582 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

Elstream Management Limited

| Elstream Management Limited (Registered number: 02315582) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Elstream Management Limited |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2026

| DIRECTORS: | R Masters

| A R Masters

| O R Masters

| A E Masters

| REGISTERED OFFICE: | Sherwood House

| 41 Queens Road

| Farnborough

| Hants

| GU14 6JP

| REGISTERED NUMBER: | 02315582 (England and Wales)

| ACCOUNTANTS: | Jones & Co

| Sherwood House

| 41 Queens Road

| Farnborough

| Hants

| GU14 6JP

| Elstream Management Limited (Registered number: 02315582) |

BALANCE SHEET

31 MARCH 2026

| 31.3.26 | 31.3.25 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,822 |  | 3,058 |  |

Investments | 5 | 2 |  | 2 |  |

Investment property | 6 | 1,785,000 |  | 1,835,000 |  |

1,787,824 |  | 1,838,060 |  |

CURRENT ASSETS

Debtors | 7 | 27,422 |  | 30,694 |  |

Cash at bank | 767,171 |  | 897,351 |  |

794,593 |  | 928,045 |  |

CREDITORS

Amounts falling due within one year | 8 | 148,168 |  | 178,314 |  |

NET CURRENT ASSETS | 646,425 |  | 749,731 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,434,249 |  | 2,587,791 |  |

CAPITAL AND RESERVES

Called up share capital | 41,664 |  | 41,664 |  |

Share premium | 12,400 |  | 12,400 |  |

Fair value reserve | 9 | (393,624 | ) | (343,624 | ) |

Capital redemption reserve | 22,880 |  | 22,880 |  |

Retained earnings | 2,750,929 |  | 2,854,471 |  |

SHAREHOLDERS' FUNDS | 2,434,249 |  | 2,587,791 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 1 July 2026 and were signed on its behalf by:

R Masters - Director

| Elstream Management Limited (Registered number: 02315582) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1. | STATUTORY INFORMATION

| Elstream Management 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 as modified by the revaluation of certain assets.

| Turnover

| Turnover represents rental income net of value added tax and is recognised according to the terms of leases.

| Tangible fixed assets

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

| Office equipment | - | 20% on reducing balance

| Investment property

| No depreciation is provided in respect of investment property the value of which, in the opinion of the directors, is considered to be substantially in excess of cost.

| Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a fair value reserve.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2025 - 4 ) .

4. | TANGIBLE FIXED ASSETS

| Office

| equipment

£ |

| COST

| At 1 April 2025 | 17,231 |  |

| Additions | 470 |  |

| At 31 March 2026 | 17,701 |  |

| DEPRECIATION

| At 1 April 2025 | 14,173 |  |

| Charge for year | 706 |  |

| At 31 March 2026 | 14,879 |  |

| NET BOOK VALUE

| At 31 March 2026 | 2,822 |  |

| At 31 March 2025 | 3,058 |  |

| Elstream Management Limited (Registered number: 02315582) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

5. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 April 2025

| and 31 March 2026 | 2 |  |

| NET BOOK VALUE

| At 31 March 2026 | 2 |  |

| At 31 March 2025 | 2 |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2025 | 1,835,000 |  |

| Revaluations | (50,000 | ) |

| At 31 March 2026 | 1,785,000 |  |

| NET BOOK VALUE

| At 31 March 2026 | 1,785,000 |  |

| At 31 March 2025 | 1,835,000 |  |

| Fair value at 31 March 2026 is represented by:

£ |

| Valuation in 2017 | 196,035 |  |

| Valuation in 2019 | (332,462 | ) |

| Valuation in 2020 | (241,688 | ) |

| Valuation in 2021 | 14,491 |  |

| Valuation in 2024 | 20,000 |  |

| Valuation in 2026 | (50,000 | ) |

| Cost | 2,178,624 |  |

1,785,000 |  |

| If investment property had not been revalued it would have been included at the following historical cost:

| 31.3.26 |  | 31.3.25

£ | £ |

| Cost | 2,178,624 |  | 2,178,624 |  |

| The investment property was valued on an open market basis on 31 March 2026 by R Masters, a director .

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Trade debtors | 8,651 |  | 10,761 |  |

| Other debtors | 18,771 |  | 19,933 |  |

27,422 |  | 30,694 |  |

| Elstream Management Limited (Registered number: 02315582) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Trade creditors | 12,386 |  | 12,684 |  |

| Amounts owed to group undertakings | 34,021 |  | 17,007 |  |

| Taxation and social security | 10,055 |  | 56,427 |  |

| Other creditors | 91,706 |  | 92,196 |  |

148,168 |  | 178,314 |  |

9. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 April 2025 | (343,624 | ) |

| Fair value adjustment | (50,000 | ) |

| At 31 March 2026 | (393,624 | ) |