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REGISTERED NUMBER: 12948493 (England and Wales)

| Unaudited Financial Statements for the Year Ended 31st March 2026 |

| for |

| Elbeth Ltd |

Elbeth Ltd (Registered number: 12948493)

Contents of the Financial Statements

for the Year Ended 31st March 2026

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Elbeth Ltd

Company Information

for the Year Ended 31st March 2026

| DIRECTORS: | Mr A Fox

| Mrs S D Fox

| REGISTERED OFFICE: | Woodlands Grange

| Woodlands Lane

| Bradley Stoke

| Bristol

| United Kingdom

| BS32 4JY

| REGISTERED NUMBER: | 12948493 (England and Wales)

| ACCOUNTANTS: | Dunkley's

| Woodlands Grange

| Woodlands Lane

| Bradley Stoke

| Bristol

| United Kingdom

| BS32 4JY

Elbeth Ltd (Registered number: 12948493)

Balance Sheet

31st March 2026

| 31.3.26 | 31.3.25 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | - |  | 162 |  |

Investment property | 5 | 1,060,000 |  | 1,010,000 |  |

1,060,000 |  | 1,010,162 |  |

CURRENT ASSETS

Debtors | 6 | 2,295 |  | 2,295 |  |

Cash at bank | 31,016 |  | 51,133 |  |

33,311 |  | 53,428 |  |

CREDITORS

Amounts falling due within one year | 7 | 12,945 |  | 53,326 |  |

NET CURRENT ASSETS | 20,366 |  | 102 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,080,366 |  | 1,010,264 |  |

PROVISIONS FOR LIABILITIES | 12,765 |  | 31 |  |

NET ASSETS | 1,067,601 |  | 1,010,233 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 280,556 |  | 280,556 |  |

Share premium | 10 | 729,544 |  | 729,544 |  |

Fair value reserve | 10 | 37,235 |  | - |  |

Retained earnings | 10 | 20,266 |  | 133 |  |

SHAREHOLDERS' FUNDS | 1,067,601 |  | 1,010,233 |  |

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

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

Elbeth Ltd (Registered number: 12948493)

Balance Sheet - continued

31st March 2026

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 6th July 2026 and were signed on its behalf by:

Mr A Fox - Director

Elbeth Ltd (Registered number: 12948493)

Notes to the Financial Statements

for the Year Ended 31st March 2026

1. | STATUTORY INFORMATION

| Elbeth 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.

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.

| The financial statements are presented in sterling (£), which is the functional currency of the company.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover consists of rents receivable. Revenue is recognised evenly over the rental period.

| Tangible fixed assets

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

| Computer equipment | - | 25% on reducing balance

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| 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 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.

| Cash & cash equivalents

| Cash and cash equivalents consist solely of the balance held in the company's bank current account. Cash is defined as cash on hand and demand deposits, while cash equivalents are short term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. The company does not hold any short term investments and does not operate an overdraft facility.

Elbeth Ltd (Registered number: 12948493)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

2. | ACCOUNTING POLICIES - continued

| Critical judgements & estimation uncertainty

| In the application of the Company's accounting policies, which are described in note 1, the director is required to make judgements, 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 financial period in which the estimate is revised if the revision affects only that financial period, or in the financial period of the revision and future financial periods if the revision affects both current and future financial periods.

| Lease policy

| The company had no operating lease commitments at the balance sheet date.

3. | EMPLOYEES AND DIRECTORS

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

4. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| COST

| At 1st April 2025 | 480 |  |

| Disposals | (480 | ) |

| At 31st March 2026 | - |  |

| DEPRECIATION

| At 1st April 2025 | 318 |  |

| Charge for year | 41 |  |

| Eliminated on disposal | (359 | ) |

| At 31st March 2026 | - |  |

| NET BOOK VALUE

| At 31st March 2026 | - |  |

| At 31st March 2025 | 162 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1st April 2025 | 1,010,000 |  |

| Revaluations | 50,000 |  |

| At 31st March 2026 | 1,060,000 |  |

| NET BOOK VALUE

| At 31st March 2026 | 1,060,000 |  |

| At 31st March 2025 | 1,010,000 |  |

Elbeth Ltd (Registered number: 12948493)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

5. | INVESTMENT PROPERTY - continued

| Fair value at 31st March 2026 is represented by:

£ |

| Valuation in 2026 | 50,000 |  |

| Cost | 1,010,000 |  |

1,060,000 |  |

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Cost | 1,010,000 |  | 1,010,000 |  |

| Investment property was valued on an open market basis on 31st March 2026 by the directors .

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Trade debtors | 2,295 |  | 2,295 |  |

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Tax | 8,272 |  | 7,063 |  |

| Other creditors | 2,295 |  | 2,295 |  |

| Directors' current accounts | 1,154 |  | 42,804 |  |

| Accrued expenses | 1,224 |  | 1,164 |  |

12,945 |  | 53,326 |  |

8. | FINANCIAL INSTRUMENTS

| Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.Trade debtors, other debtors, cash and bank balances are initially measured at transaction price. They are subsequently measured at amortised cost, using the effective interest method, except where amounts fall due within one year, in which case they remain at the transaction price as discounting is not required for short term balances

| Where payment terms extend beyond normal business terms, or the arrangement includes a financing element, the financial asset is measured at the present value of future cash flows, discounted at a market rate of interest.

| Trade creditors, loans and accruals are initially recognised at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction, in which case liabilities are measured at the present value of future payments discounted at a market rate of interest.

| Financial assets measured at cost or amortised cost are assessed for impairment at the reporting date. Any impairment loss is recognised in the profit and loss account. Reversals of impairment are recognised immediately when the estimated recoverable amount increases, provided the revised carrying value does not exceed the original carrying amount had no impairment occurred.

| Financial assets and financial liabilities are only offset when the company has a legally enforceable right to set off the recognised amounts and intends to settle on a net basis or to realise the asset and settle the liability simultaneously.

Elbeth Ltd (Registered number: 12948493)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.26 |  | 31.3.25

| value: | £ | £ |

| 50,000 | Ordinary A | £1 | 50,000 |  | 50,000 |  |

| 50,000 | Ordinary B | £1 | 50,000 |  | 50,000 |  |

| 180,556 | Ordinary C | £1 | 180,556 |  | 180,556 |  |

280,556 |  | 280,556 |  |

10. | RESERVES

| Fair |

| Retained |  | Share |  | value |

| earnings |  | premium |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1st April 2025 | 133 |  | 729,544 |  | - |  | 729,677 |  |

| Profit for the year | 72,368 |  | 72,368 |  |

| Dividends | (15,000 | ) | (15,000 | ) |

| Assets revalued in period | (37,235 | ) | - |  | 37,235 |  | - |  |

| At 31st March 2026 | 20,266 |  | 729,544 |  | 37,235 |  | 787,045 |  |

11. | CONTINGENT LIABILITIES

| There were no contingent liabilities or capital commitments at the balance sheet date.

12. | RELATED PARTY DISCLOSURES

| The company has a director's loan account with the directors, who are also a controlling party of the company. The balance is unsecured, interest free and repayable on demand. No guarantees have been given in respect of this balance.

13. | EVENTS AFTER BALANCE SHEET DATE

| There have been no events after the balance sheet date affecting the Company since the financial period.

14. | GOING CONCERN

| The company is reliant on the support of its director and shareholders and having made appropriate enquiries, the director has considered the future cashflow of the company and is not aware of any reason why the company will not be able to meet its liabilities as they fall due for the foreseeable future. As a result the director has continued to adopt the going concern basis.

15. | FUNCTIONAL AND PRESENTATION CURRENCY

| The financial statements are presented in £ sterling, which is the company's functional and presentation currency