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REGISTERED NUMBER: 13099915 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

| FOR |

| GLOBAL SALMON INITIATIVE LIMITED |

GLOBAL SALMON INITIATIVE LIMITED (REGISTERED NUMBER: 13099915) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| GLOBAL SALMON INITIATIVE LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTOR: | Ms S E Ryan

| REGISTERED OFFICE: | Second Floor Ridgeland House

| 15 Carfax

| Horsham

| West Sussex

| RH12 1ER

| REGISTERED NUMBER: | 13099915 (England and Wales)

| ACCOUNTANTS: | Galloways Accounting (Horsham) Limited

| Ridgeland House

| 15 Carfax

| Horsham

| West Sussex

| RH12 1ER

GLOBAL SALMON INITIATIVE LIMITED (REGISTERED NUMBER: 13099915) |

BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,444 |  | 2,592 |  |

CURRENT ASSETS

Debtors | 5 | 361,616 |  | 286,702 |  |

Cash at bank | 113,351 |  | 234,042 |  |

474,967 |  | 520,744 |  |

CREDITORS

Amounts falling due within one year | 6 | 367,988 |  | 430,288 |  |

NET CURRENT ASSETS | 106,979 |  | 90,456 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 109,423 |  | 93,048 |  |

RESERVES

Other reserves | 79,533 |  | 79,533 |  |

Income and expenditure account | 29,890 |  | 13,515 |  |

109,423 |  | 93,048 |  |

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 director acknowledges her 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 surplus or deficit 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 May 2026 and were signed by:

Ms S E Ryan - Director

GLOBAL SALMON INITIATIVE LIMITED (REGISTERED NUMBER: 13099915) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Global Salmon Initiative Limited is a private company, limited by guarantee , 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.

| These financial statements for the year ended 31 December 2025 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 January 2024. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

| Turnover

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

| Tangible fixed assets

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

| Fixtures and fittings | - | 25% on cost

| Computer equipment | - | 33% on reducing balance

| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Financial instruments

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Taxation

| Taxation for the year comprises current 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 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| 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

| The average number of employees during the year was 3 (2024 - 3 ) .

GLOBAL SALMON INITIATIVE LIMITED (REGISTERED NUMBER: 13099915) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 860 |  | 6,765 |  | 7,625 |  |

| Additions | - |  | 1,299 |  | 1,299 |  |

| Disposals | - |  | (1,299 | ) | (1,299 | ) |

| At 31 December 2025 | 860 |  | 6,765 |  | 7,625 |  |

| DEPRECIATION

| At 1 January 2025 | 775 |  | 4,258 |  | 5,033 |  |

| Charge for year | 42 |  | 1,147 |  | 1,189 |  |

| Eliminated on disposal | - |  | (1,041 | ) | (1,041 | ) |

| At 31 December 2025 | 817 |  | 4,364 |  | 5,181 |  |

| NET BOOK VALUE

| At 31 December 2025 | 43 |  | 2,401 |  | 2,444 |  |

| At 31 December 2024 | 85 |  | 2,507 |  | 2,592 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 270,499 |  | 282,137 |  |

| Other debtors | 8,064 |  | - |  |

| Tax | 5,264 |  | - |  |

| Prepayments and accrued income | 77,789 |  | 4,565 |  |

361,616 |  | 286,702 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 129,828 |  | 112,345 |  |

| Social security and other taxes | 24,331 |  | - |  |

| Other creditors | 11,088 |  | 16,780 |  |

| Directors' current accounts | 1,403 |  | 1,016 |  |

| Accruals and deferred income | 201,338 |  | 300,147 |  |

367,988 |  | 430,288 |  |