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REGISTERED NUMBER: 15627575 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD

1 MAY 2025 TO 31 DECEMBER 2025

FOR

UK BEAM HOLDINGS NO 16 LIMITED

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Report of the Directors | 2 |

| Report of the Independent Auditors | 3 |

| Statement of Profit or Loss and Other Comprehensive Income | 7 |

| Statement of Financial Position | 8 |

| Statement of Changes in Equity | 9 |

| Statement of Cash Flows | 10 |

| Notes to the Statement of Cash Flows | 11 |

| Notes to the Financial Statements | 12 |

| UK BEAM HOLDINGS NO 16 LIMITED |

COMPANY INFORMATION

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

| DIRECTORS: | M Leiba

| R Elchanan

| REGISTERED OFFICE: | First Floor, Winston House

| 349 Regents Park Road

| London

| N3 1DH

| REGISTERED NUMBER: | 15627575 (England and Wales)

| AUDITORS: | Melinek Fine LLP

| Chartered Accountants

| Statutory Auditors

| First Floor, Winston House

| 349 Regents Park Road

| London

| N3 1DH

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

REPORT OF THE DIRECTORS

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

The directors present their report with the financial statements of the company for the period 1 May 2025 to 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of letting and operating of own or leased real estate.

REVIEW OF BUSINESS

The results for the Period are set out on page 8.

DIVIDENDS

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2025 to the date of this report.

M Leiba

R Elchanan

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with UK-adopted international accounting standards. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | state that the financial statements comply with IFRS;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Melinek Fine LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M Leiba - Director

24 May 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

UK BEAM HOLDINGS NO 16 LIMITED

Opinion

We have audited the financial statements of Uk Beam Holdings No 16 Limited (the 'company') for the period ended 31 December 2025 which comprise the Statement of Profit or Loss and Other Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and International Financial Reporting Standards (IFRSs) as adopted by the UK.

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the period then ended;

- | have been properly prepared in accordance with IFRSs as adopted by the UK; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

UK BEAM HOLDINGS NO 16 LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

UK BEAM HOLDINGS NO 16 LIMITED

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

· the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognize non-compliance with applicable laws and regulations;

· we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

· we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Constitution of the Company, Companies Act 2006, UK Adopted IFRSs, taxation legislation, including compliance with customs regulations, laws and regulations relevant to the renting of residential property in the United Kingdom, data protection, anti-bribery, employment, and health and safety legislation;

· we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

· identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

· making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

· obtaining an understanding of the policies and procedures including internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations in order to design audit procedures that are appropriate in the circumstances (but not for the purpose of expressing an opinion on the effectiveness of the company's internal control).

To address the risk of fraud through management bias and override of controls, we:

· identified and assessed the risks of material misstatement of the financial statements, whether due to fraud or error, design and performed audit procedures responsive to those risks, and obtained audit evidence that is sufficient and appropriate to provide a basis for our opinion

· performed analytical procedures to identify any unusual or unexpected relationships;

· tested journal entries in the reporting period and up to the date of the signing of the audit report to identify unusual transactions;

· assessed whether judgements and assumptions made in determining the accounting estimates in relation to revenue recognition, impairment of investment properties, the depreciation methodology applied to investment properties and recoverability of receivable; and

· investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

· evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors;

· evaluating the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (i.e. gives a true and fair view);

· reading the minutes of meetings of those charged with governance;

· enquiring of management as to actual and potential litigation and claims;

· reviewing correspondence with HMRC and the company's legal advisors; and

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

UK BEAM HOLDINGS NO 16 LIMITED

· Concluding on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve collusion, forgery, deliberate concealment and omissions, misrepresentations, or the override of internal

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Aryeh Melinek (Senior Statutory Auditor)

for and on behalf of Melinek Fine LLP

Chartered Accountants

Statutory Auditors

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

5 June 2026

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

| Period |  | Period

| 1.5.25 |  | 8.4.24

| to |  | to

| 31.12.25 |  | 30.4.25

| Notes | £ | £ |

CONTINUING OPERATIONS

Revenue | 228,395 |  | 115,038 |  |

Cost of sales | (798 | ) | (20,977 | ) |

GROSS PROFIT | 227,597 |  | 94,061 |  |

Administrative expenses | (272,895 | ) | (83,981 | ) |

OPERATING (LOSS)/PROFIT | (45,298 | ) | 10,080 |  |

Finance costs | 4 | (199,120 | ) | (254,218 | ) |

LOSS BEFORE INCOME TAX | 5 | (244,418 | ) | (244,138 | ) |

Income tax | 6 | - |  | - |  |

LOSS FOR THE PERIOD | (244,418 | ) | (244,138 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | (244,418 | ) | (244,138 | ) |

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2025

| 2025 |  | 2025

| Notes | £ | £ |

ASSETS

NON-CURRENT ASSETS

Investment property | 7 | 2,889,168 |  | 2,916,739 |  |

CURRENT ASSETS

Trade and other receivables | 8 | 47,020 |  | 216,170 |  |

Cash and cash equivalents | 9 | 89,984 |  | 38,445 |  |

137,004 |  | 254,615 |  |

TOTAL ASSETS | 3,026,172 |  | 3,171,354 |  |

EQUITY

SHAREHOLDERS' EQUITY

Called up share capital | 10 | 1 |  | 1 |  |

Share premium | 11 | 321,336 |  | 321,336 |  |

Retained earnings | 11 | (488,556 | ) | (244,138 | ) |

TOTAL EQUITY | (167,219 | ) | 77,199 |  |

LIABILITIES

NON-CURRENT LIABILITIES

Trade and other payables | 12 | 3,147,024 |  | 3,056,791 |  |

CURRENT LIABILITIES

Trade and other payables | 12 | 46,367 |  | 37,364 |  |

TOTAL LIABILITIES | 3,193,391 |  | 3,094,155 |  |

TOTAL EQUITY AND LIABILITIES | 3,026,172 |  | 3,171,354 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 24 May 2026 and were signed on its behalf by:

M Leiba - Director

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Changes in equity

Issue of share capital | 1 |  | - |  | 321,336 |  | 321,337 |  |

Total comprehensive income | - |  | (244,138 | ) | - |  | (244,138 | ) |

Balance at 30 April 2025 | 1 |  | (244,138 | ) | 321,336 |  | 77,199 |  |

Changes in equity

Total comprehensive income | - |  | (244,418 | ) | - |  | (244,418 | ) |

Balance at 31 December 2025 | 1 |  | (488,556 | ) | 321,336 |  | (167,219 | ) |

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

STATEMENT OF CASH FLOWS

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

| Period |  | Period

| 1.5.25 |  | 8.4.24

| to |  | to

| 31.12.25 |  | 30.4.25

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 160,427 |  | (131,339 | ) |

Interest paid | (199,120 | ) | (254,218 | ) |

Net cash from operating activities | (38,693 | ) | (385,557 | ) |

Cash flows from investing activities

Purchase of investment property | - |  | (2,954,126 | ) |

Net cash from investing activities | - |  | (2,954,126 | ) |

Cash flows from financing activities

New loans in year | 90,232 |  | 3,056,791 |  |

Share issue | - |  | 321,337 |  |

Net cash from financing activities | 90,232 |  | 3,378,128 |  |

Increase in cash and cash equivalents | 51,539 |  | 38,445 |  |

Cash and cash equivalents at beginning of period | 2 | 38,445 |  | - |  |

Cash and cash equivalents at end of period | 2 | 89,984 |  | 38,445 |  |

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

NOTES TO THE STATEMENT OF CASH FLOWS

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

1. | RECONCILIATION OF LOSS BEFORE INCOME TAX TO CASH GENERATED FROM OPERATIONS

| Period |  | Period

| 1.5.25 |  | 8.4.24

| to |  | to

| 31.12.25 |  | 30.4.25

£ | £ |

| Loss before income tax | (244,418 | ) | (244,138 | ) |

| Depreciation charges | 27,572 |  | 37,387 |  |

| Finance costs | 199,120 |  | 254,218 |  |

(17,726 | ) | 47,467 |  |

| Decrease/(increase) in trade and other receivables | 169,150 |  | (216,170 | ) |

| Increase in trade and other payables | 9,003 |  | 37,364 |  |

| Cash generated from operations | 160,427 |  | (131,339 | ) |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Period ended 31 December 2025

| 31.12.25 |  | 1.5.25

£ | £ |

| Cash and cash equivalents | 89,984 |  | 38,445 |  |

| Period ended 30 April 2025

| 30.4.25 |  | 8.4.24

£ | £ |

| Cash and cash equivalents | 38,445 |  | - |  |

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Uk Beam Holdings No 16 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 principal place of business is 8 Quays Reach, Carolina Way, The Quays, Salford, M50 2ZY, United Kingdom.

| The company's principal activities and nature of its operations are disclosed in the directors' report.

2. | ACCOUNTING POLICIES

| Basis of preparation

| These financial statements have been prepared in accordance with UK-adopted international accounting standards and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS. The financial statements have been prepared under the historical cost convention.

| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

| Going Concern

| The company has made a loss of £244,418 for the period with accumulated losses of £488,556 and has a net liability of £167,219 as at the period end. The company’s parent undertaking has agreed to provide continuing financial support to the company to enable the company to meet its obligations as and when they fall due, thus the directors continue to adopt going concern basis of accounting in preparing the financial statements. When assessing the going concern status of the company, the directors have considered of a period of 12 months from the date of signing the financial statements.

| Revenue recognition

| Revenue comprises the fair value of the consideration received or receivable in relation to the proceeds of property rental. Revenue is shown net of any value-added tax, returns, rebates and discounts. Revenue is recognized straight line over the term of the lease contract on an accruals basis. Lease incentives granted are recognized as an integral part of rental income.

| The Company’s properties are all let on a Full Repairing and insuring terms, making the tenant liable for all repairs and servicing. The Company bears the cost of vacant premises when this arises. The directors consider that the revenue generation relates exclusively to rental income in the UK and so no further segmentation is required.

| Cash and cash equivalents

| Cash represents cash in hand and deposits held on demand with financial institutions. Cash equivalents are short-term, highly-liquid investments with original maturities of three months or less (as at their date of acquisition). Cash equivalents are readily convertible to known amounts of cash and subject to an insignificant risk of change in that cash value.

| In the presentation of the Statement of Cash Flows, cash and cash equivalents also include bank overdrafts. Any such overdrafts are shown within borrowings under ‘current liabilities’ on the Statement of Financial Position.

| Investment property

| Investment property, which is property held to earn rentals and/or for capital appreciation, is initially measured at cost and subsequently measured at cost less depreciation and any impairment. Depreciation is provided at the rate of 2% on the cost of Buildings, no depreciation is provide on the cost of Land.

| Taxation

| Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the statement of financial position date.

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial assets

| Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

| At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.The company only has financial assets held at amortised cost.

| Financial assets at fair value through profit or loss

| When any of the above-mentioned conditions for classification of financial assets is not met, a financial asset is classified as measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are recognized initially at fair value and any transaction costs are recognised in profit or loss when incurred. A gain or loss on a financial asset measured at fair value through profit or loss is recognised in profit or loss, and is included within finance income or finance costs in the statement of income for the reporting period in which it arises.

| Financial assets held at amortised cost

| Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

| Financial assets at fair value through other comprehensive income

| Debt instruments are classified as financial assets measured at fair value through other comprehensive income where the financial assets are held within the company’s business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

| A debt instrument measured at fair value through other comprehensive income is recognised initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognised through other comprehensive income are directly transferred to profit or loss when the debt instrument is derecognised.

| The company has made an irrevocable election to recognize changes in fair value of investments in equity instruments through other comprehensive income, not through profit or loss. A gain or loss from fair value changes will be shown in other comprehensive income and will not be reclassified subsequently to profit or loss. Equity instruments measured at fair value through other comprehensive income are recognized initially at fair value plus transaction cost directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognized through other comprehensive income are directly transferred to retained earnings when the equity instrument is derecognized or its fair value substantially decreased. Dividends are recognized as finance income in profit or loss.

| Impairment of financial assets

| Financial assets carried at amortised cost are assessed for indicators of impairment at each reporting end date.

| The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses,including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.

| For trade receivables, the simplified approach permitted by IFRS 9 is applied, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire,or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

| Financial liabilities

| The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

| Other financial liabilities

| Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

| Derecognition of financial liabilities

| Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| In applying the Company's accounting policies, which are described in note 2, the Directors are required to make judgements (other than those involving estimations) that have a significant impact on the amounts recognised and to make estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| New standards and interpretations

| a. New standards, amendments and interpretations adopted by the Company.

| There were no new or amended accounting standards that required the Company to change its accounting policies for the year ended 31 December 2025 and no new standards, amendments or interpretations were adopted by the Company.

| a. New standards, amendments and interpretations not yet adopted by the Company.

| The standards and interpretations that are relevant to the Company, issued, but not yet effective, up to the date of the Financial Statements are listed below. The Company intends to adopt these standards, if applicable, when they become effective. The Directors do not expect any material impact as a result of adopting the standards and amendments listed above in the financial year they become effective.

| Standard |  | Impact on initial application |  | Effective date |  |

| IFRS 5 |  | Non-current Assets Held for Sale and Discontinued Operations. |  | 1 January 2026 |  |

| IFRS 13 |  | Fair Value Measurement. |  | 1 January 2026 |  |

| IFRS 15 |  | Revenue from Contracts with Customers. |  | 1 January 2026 |  |

| IFRS 19 |  | Subsidiaries without Public Accountability: Disclosures. |  | 1 January 2026 |  |

| IAS 7 |  | Statement of Cash Flows. |  | 1 January 2026 |  |

| IAS 8 |  | Basis of Preparation of Financial Statements. |  | 1 January 2026 |  |

| IAS 10 |  | Events after the Reporting Period. |  | 1 January 2026 |  |

| IAS 12 |  | Income Taxes. |  | 1 January 2026 |  |

| IAS 23 |  | Borrowing Cost |  | 1 January 2026 |  |

| IAS 24 |  | Related Party Disclosures. |  | 1 January 2026 |  |

| IAS 39 |  | Financial Instruments: Recognition and Measurement. |  | 1 January 2026 |  |

| IAS 40 |  | Investment Property. |  | 1 January 2026 |  |

4. | NET FINANCE COSTS

| Period |  | Period

| 1.5.25 |  | 8.4.24

| to |  | to

| 31.12.25 |  | 30.4.25

£ | £ |

| Finance costs:

| Other loan interest | 199,120 |  | 254,218 |  |

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

5. | LOSS BEFORE INCOME TAX

| The loss before income tax is stated after charging:

| Period |  | Period

| 1.5.25 |  | 8.4.24

| to |  | to

| 31.12.25 |  | 30.4.25

£ | £ |

| Depreciation - owned assets | 27,571 |  | 37,387 |  |

| Audits' Remuneration | 5,000 |  | 5,000 |  |

6. | INCOME TAX

| Analysis of tax expense

| No liability to UK corporation tax arose for the period ended 31 December 2025 nor for the period ended 30 April 2025.

| Factors affecting the tax expense

| The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| Period |  | Period

| 1.5.25 |  | 8.4.24

| to |  | to

| 31.12.25 |  | 30.4.25

£ | £ |

| Loss before income tax | (244,418 | ) | (244,138 | ) |

| Loss multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%) | (61,105 | ) | (61,035 | ) |

| Effects of:

| Disallowable expenses | 6,893 |  | 9,347 |  |

| Loss carry forward | 54,212 |  | 51,688 |  |

| Tax expense | - |  | - |  |

| The company has losses of £423,597 (2024: £206,751) available for offset against future taxable profits. No deferred tax asset has been recognised in relation to the losses on the basis that their future economic benefit is uncertain given the unpredictability of future profits.

7. | INVESTMENT PROPERTY

| Total

£ |

| COST

| At 1 May 2025

| and 31 December 2025 | 2,954,126 |  |

| DEPRECIATION

| At 1 May 2025 | 37,387 |  |

| Charge for period | 27,571 |  |

| At 31 December 2025 | 64,958 |  |

| NET BOOK VALUE

| At 31 December 2025 | 2,889,168 |  |

| At 30 April 2025 | 2,916,739 |  |

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

7. | INVESTMENT PROPERTY - continued

| The company has adopted a cost model for recognition of investment properties. The directors consider that the fair market value as at the year end, based on market conditions and rental yields is approximately £3m (2024:£3m).

8. | TRADE AND OTHER RECEIVABLES

2025 | 2025 |

£ | £ |

| Current:

| Trade receivables | 47,020 |  | 3,083 |  |

| Other receivables | - |  | 213,087 |  |

47,020 |  | 216,170 |  |

9. | CASH AND CASH EQUIVALENTS

2025 | 2025 |

£ | £ |

| Bank accounts | 89,984 |  | 38,445 |  |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 1 | Ordinary Shares | £1 | 1 |  | 1 |  |

11. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 May 2025 | (244,138 | ) | 321,336 |  | 77,198 |  |

| Deficit for the period | (244,418 | ) | (244,418 | ) |

| At 31 December 2025 | (488,556 | ) | 321,336 |  | (167,220 | ) |

12. | TRADE AND OTHER PAYABLES

2025 | 2025 |

£ | £ |

| Current:

| Trade payables | 26,921 |  | 27,366 |  |

| Other payables | 9,446 |  | 4,998 |  |

| Accruals and deferred income | 10,000 |  | 5,000 |  |

46,367 |  | 37,364 |  |

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

12. | TRADE AND OTHER PAYABLES - continued

2025 | 2025 |

£ | £ |

| Non-current:

| Amounts owed to group undertakings | 3,147,024 |  | 3,056,791 |  |

| Aggregate amounts | 3,193,391 |  | 3,094,155 |  |

| Amounts owed to group undertakings has been advanced by the Ultimate parent undertaking. The loan carries interest at a fixed rate of 10.5% per annum and is unsecured.

13. | FINANCIAL INSTRUMENTS

| The principal financial instruments are trade and other receivables, and trade and other payables. The carrying amounts of financial instruments are listed below.

| Financial assets measured at amortised costs

|  | 31 December 2025 |  | 31 December 2024 |

| £ |  | £ |  |

| Trade and other receivables |  | 47,020 |  | 216,170 |

| Cash and cash equivalent |  | 89,984 |  | 38,445 |

|  | 137,004 |  | 254,615 |

| Financial liabilities measured at amortised costs

|  | 31 December |  | 31 December |

|  | 2025 |  | 2024 |

| £ |  | £ |  |

| Trade and other payables |  | 3,193,391 |  | 3,094,155 |

|  | 3,193,391 |  | 3,094,155 |

UK BEAM HOLDINGS NO 16 LIMITED (REGISTERED NUMBER: 15627575) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 MAY 2025 TO 31 DECEMBER 2025

14. | CAPITAL RISK MANAGEMENT

| The company manages its capital to ensure that the company will be able to continue as a going concern while maximizing the return to stakeholders through the optimization of the debt and equity balance.

| The capital structure of the company consists of equity comprising issued capital, share premium and retained earnings. The company's Board of Directors reviews the capital structure of the group on an on-going basis.

| Financial risk management objectives

| The company's risk management policy has been to identify the principal business risks in achieving the company's strategic objectives, establishing appropriate internal controls to manage those risks and ensuring that appropriate monitoring and reporting systems are in place. These controls are continually reviewed and where necessary improved.

| The company's principal financial instruments comprise cash and cash equivalent balances, trade payables and trade receivables. The main purpose of these instruments is to fund the company's operations. The company does not enter into or trade financial instruments, including derivative financial instruments, of a speculative nature.

| The company's approach to managing risks applicable to the financial instruments concerned is shown below:

| Market risk

| The company does not take positions which expose it to price risk.

| Foreign currency risk

| The company's income and expenditure is predominantly in sterling. The company is not therefore materially exposed to foreign currency risk. The company does not currently hold assets denominated in currencies other than sterling, therefore it is not exposed to currency risk on fluctuations due to the changes in exchange rates.

| The directors are responsible for managing the company's exposure to foreign currency risk should it arise, by monitoring the exposure on all foreign currency denominated assets and liabilities.

15. | ULTIMATE CONTROLLING PARTY

| The company’s ultimate controlling party is I.B.I Investment House Ltd, a company incorporated in the State of Israel.