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REGISTERED NUMBER: 00477955 (England and Wales)

Strategic Report, Report of the Directors and |

Financial Statements |

for the Year Ended 31 December 2025 |

for |

Ashley Wilde Group Limited |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 5 |

| Income Statement | 9 |

| Other Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 12 |

| Notes to the Financial Statements | 13 |

| Ashley Wilde Group Limited |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | A L Brodin

| S D Brodin

| C Bennett

| P Thoms

| R D Goldwater FCCA

| SECRETARY: | A L Brodin

| REGISTERED OFFICE: | Emmanuel House

| Travellers Close

| Welham Green

| Hertfordshire

| AL9 7LD

| REGISTERED NUMBER: | 00477955 (England and Wales)

| AUDITORS: | Freedman Frankl & Taylor

| Statutory Auditors

| Chartered Accountants

| Reedham House

| 31 King Street West

| Manchester

| M3 2PJ

| Ashley Wilde Group Limited (Registered number: 00477955) |

Strategic Report

for the Year Ended 31 December 2025

The business was formed in 1950 and has been under family ownership ever since. Today, 114 staff are employed in designing and delivering a wide range of beautiful home furnishing products to the retail trade both in the UK and overseas.

The directors believe the company's broad customer base, extensive product portfolio and its focus on design and brand exclusivity will continue to deliver long term sustainable results. This spread over so many products, markets and customers, avoids dependency on any one dominant influence and is considered a key strength to the business.

Turnover decreased by 8% overall from 2024, mainly due to high trade tariffs brought in by the US depressing demand in this market. However, growth in the UK and Middle East markets compensated for some of this which was driven by a strong product range and new products. Gross Profit Margins also improved due to the type of customer from 38.2% in 2024 to 40.7% in 2025. This resulted in Gross Profit only being down by 1.7%.

Overheads have reduced in line with turnover despite increases in the minimum wage, employers' national insurance contributions, and utilities - savings were made elsewhere. Operating Profit and Profit before tax was on par to 2024. All other key financial indicators reported satisfactory outcomes for the year.

Our employees have worked especially hard this year to help deliver customer service and productivity during the year. Their experience and commitment help us to deliver value and innovative products to our customers. We would like to thank all our staff members for their efforts.

New product development remains a key element of our business model. In-house designs as well as new and renewed licensed ranges, continue to drive demand from our customer base. Further new ranges in development for launch during 2026 are expected to further add to our leadership in the home furnishing sector.

A major event in 2025 was our purchase of a new warehouse which is now under demolition and construction as of time of writing. The new 24,000 square foot warehouse will be transformational for the business. It will provide a dedicated, purpose-built space that allows us to work more efficiently, accommodate growth, and create a professional environment that reflects the quality and ambition of our brands.

The board considers the main risks for 2026 as the impact on the war in Iran which is impacting shipping costs and driving inflation, which is threatening retail volume and margin. In response to these risks, we maintain our cautious and careful approach to credit policy which limits our exposure to substantial bad debts, and currency hedging to cushion the effect of adverse exchange rate movements.

We have reviewed the present and foreseeable challenges and uncertainties which affect us and have assessed our working capital requirements accordingly. We remain satisfied that we have sufficient resources at hand, both financial and non-financial, to contend with a downturn and to exploit growth opportunities as they arise.

The financial year 2026 commenced in line with expectations. We remain cautiously optimistic about prospects for the remainder of 2026 and longer-term, given the uncertain impact of the stated risks on consumer demand.

ON BEHALF OF THE BOARD:

A L Brodin - Director

20 July 2026

| Ashley Wilde Group Limited (Registered number: 00477955) |

Report of the Directors

for the Year Ended 31 December 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of designing, converting and wholesale distribution of soft furnishing fabrics.

DIVIDENDS

An interim dividend of £77.6699 per share was paid on 31 December 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2025 will be £ 800,000 .

DIRECTORS

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

A L Brodin

S D Brodin

C Bennett

P Thoms

R D Goldwater FCCA

CHARITABLE DONATIONS

Charitable donations for the year were £34,928 (2024: £33,854).

STREAMLINED ENERGY AND CARBON REPORTING

The Companies Act 2006 (Directors Report) Regulation 2018 requires the company to disclose energy consumption and greenhouse gas emissions (GHG). This information has not been disclosed in these financial statements as it is included in the consolidated financial statements of the ultimate parent undertaking, Giltex Limited.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- | 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.

| Ashley Wilde Group Limited (Registered number: 00477955) |

Report of the Directors

for the Year Ended 31 December 2025

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.

ON BEHALF OF THE BOARD:

A L Brodin - Director

20 July 2026

Report of the Independent Auditors to the Members of

Ashley Wilde Group Limited

Opinion

We have audited the financial statements of Ashley Wilde Group Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

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 profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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 Strategic Report and 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Ashley Wilde Group 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 Strategic Report or 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 three, 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

Ashley Wilde Group 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:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks to irregularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance;

- results of enquiries of management about their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team and involving other internal specialists including tax regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risks of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation.

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of management concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

- in addressing the risks of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

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.

Report of the Independent Auditors to the Members of

Ashley Wilde Group Limited

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.

Ian Sluckis BA FCA (Senior Statutory Auditor)

for and on behalf of Freedman Frankl & Taylor

Statutory Auditors

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

20 July 2026

| Ashley Wilde Group Limited (Registered number: 00477955) |

Income Statement

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 48,803,660 |  | 52,883,415 |  |

Cost of sales | (28,939,828 | ) | (32,677,586 | ) |

GROSS PROFIT | 19,863,832 |  | 20,205,829 |  |

Distribution costs | (7,856,274 | ) | (8,170,241 | ) |

Administrative expenses | (8,798,481 | ) | (8,770,042 | ) |

3,209,077 |  | 3,265,546 |  |

Other operating income | - |  | 53,792 |  |

OPERATING PROFIT | 5 | 3,209,077 |  | 3,319,338 |  |

Provision for bad debts and

exceptional costs | 6 | - |  | 3,950,500 |  |

Debt forgiven | 6 | - |  | (3,950,500 | ) |

3,209,077 |  | 3,319,338 |  |

Interest receivable and similar income | 161,863 |  | 102,717 |  |

3,370,940 |  | 3,422,055 |  |

Interest payable and similar expenses | 7 | (119,994 | ) | (132,349 | ) |

PROFIT BEFORE TAXATION | 3,250,946 |  | 3,289,706 |  |

Tax on profit | 8 | (711,004 | ) | (866,934 | ) |

PROFIT FOR THE FINANCIAL YEAR | 2,539,942 |  | 2,422,772 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Other Comprehensive Income

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 2,539,942 |  | 2,422,772 |  |

OTHER COMPREHENSIVE INCOME |

Movement on hedging reserve | (218,054 | ) | 179,161 |  |

Income tax relating to other comprehensive income | 54,514 |  | (44,790 | ) |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | (163,540 | ) | 134,371 |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 2,376,402 |  | 2,557,143 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Balance Sheet

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | 14,204,700 |  | 11,256,029 |  |

Investments | 12 | 2 |  | 2 |  |

14,204,702 |  | 11,256,031 |  |

CURRENT ASSETS

Stocks | 13 | 6,552,023 |  | 7,537,415 |  |

Debtors | 14 | 9,427,122 |  | 11,227,042 |  |

Cash at bank and in hand | 6,000,920 |  | 2,890,331 |  |

21,980,065 |  | 21,654,788 |  |

CREDITORS

Amounts falling due within one year | 15 | (6,853,066 | ) | (6,840,638 | ) |

NET CURRENT ASSETS | 15,126,999 |  | 14,814,150 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 29,331,701 |  | 26,070,181 |  |

CREDITORS

Amounts falling due after more than one year | 16 | (3,151,860 | ) | (1,262,373 | ) |

PROVISIONS FOR LIABILITIES | 21 | (1,438,439 | ) | (1,642,808 | ) |

NET ASSETS | 24,741,402 |  | 23,165,000 |  |

CAPITAL AND RESERVES

Called up share capital | 22 | 103,000 |  | 103,000 |  |

Revaluation reserve | 23 | 6,642,386 |  | 6,754,526 |  |

Capital redemption reserve | 23 | 2 |  | 2 |  |

Hedging reserve | 23 | 27,508 |  | 191,048 |  |

Retained earnings | 23 | 17,968,506 |  | 16,116,424 |  |

SHAREHOLDERS' FUNDS | 24,741,402 |  | 23,165,000 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2026 and were signed on its behalf by:

A L Brodin - Director

| Ashley Wilde Group Limited (Registered number: 00477955) |

Statement of Changes in Equity

for the Year Ended 31 December 2025

| Called up |

| share |  | Retained |  | Revaluation

| capital |  | earnings |  | reserve

£ | £ | £ |

Balance at 1 January 2024 | 103,000 |  | 15,081,512 |  | 6,866,666 |  |

Changes in equity

Dividends | - |  | (1,500,000 | ) | - |  |

Total comprehensive income | - |  | 2,534,912 |  | (112,140 | ) |

Balance at 31 December 2024 | 103,000 |  | 16,116,424 |  | 6,754,526 |  |

Changes in equity

Dividends | - |  | (800,000 | ) | - |  |

Total comprehensive income | - |  | 2,652,082 |  | (112,140 | ) |

Balance at 31 December 2025 | 103,000 |  | 17,968,506 |  | 6,642,386 |  |

| Capital |

| redemption |  | Hedging |  | Total

| reserve |  | reserve |  | equity

£ | £ | £ |

Balance at 1 January 2024 | 2 |  | 56,677 |  | 22,107,857 |  |

Changes in equity

Dividends | - |  | - |  | (1,500,000 | ) |

Total comprehensive income | - |  | 134,371 |  | 2,557,143 |  |

Balance at 31 December 2024 | 2 |  | 191,048 |  | 23,165,000 |  |

Changes in equity

Dividends | - |  | - |  | (800,000 | ) |

Total comprehensive income | - |  | (163,540 | ) | 2,376,402 |  |

Balance at 31 December 2025 | 2 |  | 27,508 |  | 24,741,402 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Ashley Wilde Group 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows.

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Significant judgements and estimates

| In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revision 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.

| Key sources of estimation uncertainty

| The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed below.

| Assessing indicators of impairment

| In assessing whether there have been any indicators of impairment assets, the directors have considered both external and internal sources of information such as market conditions and experience of recoverability. There have been no indicators of impairments identified during the current financial year.

| Tangible fixed assets

| Tangible fixed assets, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates and value added tax from the provision of goods and services which fall within the company's ordinary activity. The directors consider the business to comprise a single activity.

| Bank and other interest is recognised in the period in which it was received.

| Grant income

| Grants of a revenue nature are credited to income in the period to which they relate.

| Patents and licences

| Patents and licences are amortised on a straight line basis over the term of the related contracts.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Freehold properties | - | 1.25% on cost

| Short leasehold | - | 20% on cost

| Fixtures and fittings | - | 20% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Equipment | - | 33% on reducing balance and 20% on reducing balance

| Freehold properties are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairment losses. Revaluations are preformed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the assets and the net amount is restated to the revalued amount of the asset.

| Any revaluation increase in the carrying amount of freehold properties is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. Each year the difference between the depreciation based on the revalued carrying amount of the asset recognised in profit or loss and depreciation based on the asset's original cost is transfered from fair value reserve to retained earning.

| Other tangible fixed assets are recorded at cost less accumulated depreciation and accumulated impairment losses.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Leasing and hire purchase commitments

| Assets held under hire purchase contracts are capitalised and depreciated over their useful lives. The finance charges are allocated over the primary period of the lease in proportion to the capital element outstanding.

| Amounts payable under operating leases are charged to the profit and loss account in the period in which they are incurred.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme covering certain of its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost represents the contributions payable to the pension scheme in respect of the accounting period.

| Going concern

| The company's financial statements for the year ended 31 December 2025 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company uses forward currency contracts to reduce exposure to foreign exchange rates.

| The company considers it qualifies for hedge accounting when certain criteria are met :

| Forward foreign currency contracts

| The criteria for forward currency contracts are

| - the instrument must be related to expected purchases in foreign currency,

| - it must involve the same currency as the hedged item, and

| - it must reduce the risk of foreign currency exchange movements in the company's operations

| Foreign exchange forward contracts have been recognised at fair value at the end of the year with changes in fair value recognised in other comprehensive income as qualifying cash flow hedge..

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Sale of goods | 48,803,660 |  | 52,883,415 |  |

48,803,660 |  | 52,883,415 |  |

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 33,810,902 |  | 32,974,483 |  |

| Europe | 1,865,509 |  | 1,916,053 |  |

| Asia | 696,222 |  | 661,329 |  |

| Americas | 10,138,392 |  | 15,723,220 |  |

| Africa | 51,749 |  | 37,519 |  |

| Australasia | 677,885 |  | 430,709 |  |

| Europe (non-EU) | 108,517 |  | 134,690 |  |

| Middle East | 1,454,484 |  | 1,005,412 |  |

48,803,660 |  | 52,883,415 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 5,444,149 |  | 5,664,092 |  |

| Social security costs | 740,481 |  | 671,216 |  |

| Other pension costs | 221,275 |  | 207,360 |  |

6,405,905 |  | 6,542,668 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Selling and administrative | 76 |  | 76 |  |

| Warehouse | 38 |  | 39 |  |

114 |  | 115 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 2,158,185 |  | 2,545,710 |  |

| Directors' pension contributions to money purchase schemes | 127,034 |  | 121,308 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 4 |  | 4 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 960,994 |  | 1,312,410 |  |

| Pension contributions to money purchase schemes | 14,350 |  | 10,184 |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 276,781 |  | 270,370 |  |

| Depreciation - assets on hire purchase contracts | 12,941 |  | 21,487 |  |

| (Profit)/loss on disposal of fixed assets | (4,344 | ) | 12,506 |  |

| Auditors' remuneration | 29,000 |  | 29,000 |  |

| Loss on foreign currency translations | 24,334 |  | 49,965 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

6. | EXCEPTIONAL ITEMS

| 2025 |  | 2024

£ | £ |

| Provision for bad debts and

| exceptional costs | - |  | 3,950,500 |  |

| Debt forgiven | - |  | (3,950,500 | ) |

| During the previous year, the company had forgiven debt amounting to £3,950,500 in respect of amounts due from subsidiary undertaking which had previously been provided for as a bad debt.

| A reversal of the bad debt provision made in the previous year amounting to £3,950,500 relates to amounts due from subsidiary undertaking not considered recoverable by the directors. The bad debt charge included in 2023 was £961,000 which is part of the 2023 exceptional item together with a provision of £435,000 for costs to be incurred under an onerous lease.

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest | 107,166 |  | 116,223 |  |

| Other charges | 12,000 |  | 12,000 |  |

| Hire purchase | 828 |  | 4,126 |  |

119,994 |  | 132,349 |  |

8. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 860,859 |  | 881,681 |  |

| Deferred tax | (149,855 | ) | (14,747 | ) |

| Tax on profit | 711,004 |  | 866,934 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit before tax | 3,250,946 |  | 3,289,706 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 812,737 |  | 822,427 |  |

| Effects of:

| Expenses not deductible for tax purposes | 2,261 |  | 3,756 |  |

| Capital allowances in excess of depreciation | (101,718 | ) | - |  |

| Depreciation in excess of capital allowances | - |  | 40,751 |  |

| Group relief | (2,276 | ) | - |  |

| Total tax charge | 711,004 |  | 866,934 |  |

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Movement on hedging reserve | (218,054 | ) | 54,514 |  | (163,540 | ) |

| 2024 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Movement on hedging reserve | 179,161 |  | (44,790 | ) | 134,371 |  |

9. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Interim | 800,000 |  | 1,500,000 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

10. | INTANGIBLE FIXED ASSETS

| Patents

| and

| licences

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 300,000 |  |

| AMORTISATION

| At 1 January 2025

| and 31 December 2025 | 300,000 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 December 2024 | - |  |

11. | TANGIBLE FIXED ASSETS

| Fixtures

| Freehold |  | Short |  | and

| properties |  | leasehold |  | fittings

£ | £ | £ |

| COST OR VALUATION

| At 1 January 2025 | 11,080,000 |  | 79,403 |  | 395,009 |  |

| Additions | 3,106,457 |  | - |  | - |  |

| Disposals | - |  | - |  | - |  |

| At 31 December 2025 | 14,186,457 |  | 79,403 |  | 395,009 |  |

| DEPRECIATION

| At 1 January 2025 | 415,500 |  | 49,897 |  | 224,075 |  |

| Charge for year | 138,500 |  | 15,881 |  | 34,187 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 December 2025 | 554,000 |  | 65,778 |  | 258,262 |  |

| NET BOOK VALUE

| At 31 December 2025 | 13,632,457 |  | 13,625 |  | 136,747 |  |

| At 31 December 2024 | 10,664,500 |  | 29,506 |  | 170,934 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

11. | TANGIBLE FIXED ASSETS - continued

| Motor |

| vehicles |  | Equipment |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 January 2025 | 320,700 |  | 767,128 |  | 12,642,240 |  |

| Additions | 173,041 |  | 5,000 |  | 3,284,498 |  |

| Disposals | (109,745 | ) | - |  | (109,745 | ) |

| At 31 December 2025 | 383,996 |  | 772,128 |  | 15,816,993 |  |

| DEPRECIATION

| At 1 January 2025 | 78,228 |  | 618,511 |  | 1,386,211 |  |

| Charge for year | 66,011 |  | 35,143 |  | 289,722 |  |

| Eliminated on disposal | (63,640 | ) | - |  | (63,640 | ) |

| At 31 December 2025 | 80,599 |  | 653,654 |  | 1,612,293 |  |

| NET BOOK VALUE

| At 31 December 2025 | 303,397 |  | 118,474 |  | 14,204,700 |  |

| At 31 December 2024 | 242,472 |  | 148,617 |  | 11,256,029 |  |

| Cost or valuation at 31 December 2025 is represented by:

| Fixtures

| Freehold |  | Short |  | and

| properties |  | leasehold |  | fittings

£ | £ | £ |

| Valuation in 2000 | 1,180,640 |  | - |  | - |  |

| Valuation in 2016 | 1,369,245 |  | - |  | - |  |

| Valuation in 2021 | 5,080,000 |  | - |  | - |  |

| Cost | 6,556,572 |  | 79,403 |  | 395,009 |  |

14,186,457 |  | 79,403 |  | 395,009 |  |

| Motor |

| vehicles |  | Equipment |  | Totals

£ | £ | £ |

| Valuation in 2000 | - |  | - |  | 1,180,640 |  |

| Valuation in 2016 | - |  | - |  | 1,369,245 |  |

| Valuation in 2021 | - |  | - |  | 5,080,000 |  |

| Cost | 383,996 |  | 772,128 |  | 8,187,108 |  |

383,996 |  | 772,128 |  | 15,816,993 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

11. | TANGIBLE FIXED ASSETS - continued

| If freehold properties had not been revalued they would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 6,556,572 |  | 3,450,115 |  |

| Aggregate depreciation | 1,132,118 |  | 1,088,992 |  |

| Freehold properties were valued on an open market basis on 9 February 2022 by BNP Paribas Real Estate. The directors do not consider the market value to be materially different as at 31 December 2025.

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| COST OR VALUATION

| At 1 January 2025 | 75,312 |  |

| Disposals | (35,312 | ) |

| At 31 December 2025 | 40,000 |  |

| DEPRECIATION

| At 1 January 2025 | 22,099 |  |

| Charge for year | 12,941 |  |

| Eliminated on disposal | (21,915 | ) |

| At 31 December 2025 | 13,125 |  |

| NET BOOK VALUE

| At 31 December 2025 | 26,875 |  |

| At 31 December 2024 | 53,213 |  |

12. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 2 |  |

| NET BOOK VALUE

| At 31 December 2025 | 2 |  |

| At 31 December 2024 | 2 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

12. | FIXED ASSET INVESTMENTS - continued

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Ashley Wilde Designs Limited

| Registered office: United Kingdom

| Nature of business: Soft furnishing wholesalers

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 106,166 |  | 109,430 |  |

13. | STOCKS

2025 | 2024 |

£ | £ |

| Goods for resale | 6,552,023 |  | 7,537,415 |  |

14. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 7,655,832 |  | 7,977,344 |  |

| Other debtors | 158,680 |  | 1,323,077 |  |

| Derivative financial assets | 36,678 |  | 254,733 |  |

| Prepayments | 626,387 |  | 502,057 |  |

8,477,577 |  | 10,057,211 |  |

| Amounts falling due after more than one year:

| Amounts owed by group undertakings | 854,690 |  | 1,068,976 |  |

| Other debtors | 94,855 |  | 100,855 |  |

949,545 |  | 1,169,831 |  |

| Aggregate amounts | 9,427,122 |  | 11,227,042 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 17) | 261,464 |  | 222,620 |  |

| Hire purchase contracts (see note 18) | 6,995 |  | 11,287 |  |

| Trade creditors | 2,059,057 |  | 3,035,822 |  |

| Amounts owed to group undertakings | 4,751 |  | 4,751 |  |

| Taxation | 483,798 |  | 437,940 |  |

| Social security and other taxes | 1,449,286 |  | 1,469,365 |  |

| Other creditors | 30,931 |  | 8,682 |  |

| Accruals | 2,556,784 |  | 1,650,171 |  |

6,853,066 |  | 6,840,638 |  |

16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans (see note 17) | 3,131,518 |  | 1,235,659 |  |

| Hire purchase contracts (see note 18) | 20,342 |  | 26,714 |  |

3,151,860 |  | 1,262,373 |  |

17. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 261,464 |  | 222,620 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 261,464 |  | 222,620 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 784,391 |  | 667,861 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loan over 5 years | 2,085,663 |  | 345,178 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

18. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Gross obligations repayable:

| Within one year | 7,483 |  | 12,115 |  |

| Between one and five years | 20,627 |  | 27,486 |  |

28,110 |  | 39,601 |  |

| Finance charges repayable:

| Within one year | 488 |  | 828 |  |

| Between one and five years | 285 |  | 772 |  |

773 |  | 1,600 |  |

| Net obligations repayable:

| Within one year | 6,995 |  | 11,287 |  |

| Between one and five years | 20,342 |  | 26,714 |  |

27,337 |  | 38,001 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 135,121 |  | - |  |

| Between one and five years | - |  | 363,363 |  |

135,121 |  | 363,363 |  |

19. | SECURED DEBTS

| Bank loans, bank overdrafts and other loans are secured by a fixed and floating charge over the assets of the company.

| The amounts due under hire purchase contracts are secured over the assets to which they relate.

20. | FINANCIAL INSTRUMENTS

| Foreign exchange forward contracts are recognised at fair value at the end of the year with changes in fair value recognised in a hedging reserve.

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

21. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 1,438,439 |  | 1,642,808 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 1,642,808 |  |

| Provided during year | (149,856 | ) |

| Hedging reserve | (54,513 | ) |

| Balance at 31 December 2025 | 1,438,439 |  |

| Analysis of deferred tax balance

|  | 2025 |  |  | 2024 |

|  | £ |  |  | £ |

| Accelerated capital allowances |  | 165,227 |  |  | 179,581 |

| Property fair value reserve |  | 1,264,043 |  |  | 1,402,543 |

| Hedging reserve |  | 9,171 |  |  | 63,684 |

|  | 1,438,441 |  |  | 1,642,808 |

22. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 103,000 | Ordinary | £1 | 103,000 |  | 103,000 |  |

23. | RESERVES

| Capital |

| Retained |  | Revaluation |  | redemption |  | Hedging |

| earnings |  | reserve |  | reserve |  | reserve |  | Totals

£ | £ | £ | £ | £ |

| At 1 January 2025 | 16,116,424 |  | 6,754,526 |  | 2 |  | 191,048 |  | 23,062,000 |  |

| Profit for the year | 2,539,942 |  | 2,539,942 |  |

| Dividends | (800,000 | ) | (800,000 | ) |

| Transfer to profit and loss

| account | 112,140 |  | (112,140 | ) | - |  | - |  | - |  |

| Movement in cashflow hedging

| reserve | - |  | - |  | - |  | (163,540 | ) | (163,540 | ) |

| At 31 December 2025 | 17,968,506 |  | 6,642,386 |  | 2 |  | 27,508 |  | 24,638,402 |  |

| Ashley Wilde Group Limited (Registered number: 00477955) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

24. | ULTIMATE PARENT COMPANY

| At the balance sheet date, the company's immediate parent company was Ashley Wilde Holdings Limited and its ultimate holding company was Giltex Limited, both entities are registered in England and Wales. Copies of the financial statements of Ashley Wilde Holdings Limited and the consolidated financial statements of Giltex Limited can be obtained from the registered office of that entity which is the same as this company and the address can be found on the company information page.

25. | CONTINGENT LIABILITIES

| The company has guaranteed the bank overdraft of Ashley Wilde Holdings Limited and Ashley Wilde Designs Limited which at 31 December 2025 amounted to £Nil.

26. | CAPITAL COMMITMENTS

2025 | 2024 |

£ | £ |

| Contracted but not provided for in the

| financial statements | 2,192,012 |  | - |  |

27. | RELATED PARTY DISCLOSURES

| Other related parties

2025 | 2024 |

£ | £ |

| Amount due from related party | 24,355 |  | 24,355 |  |