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REGISTERED NUMBER: 09160232 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 28 February 2026 |

| for |

| Maxell FM Ltd |

| Maxell FM Ltd (Registered number: 09160232) |

Contents of the Financial Statements

for the Year Ended 28 February 2026

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Chartered Accountants' Report | 8 |

| Maxell FM Ltd |

Company Information

for the Year Ended 28 February 2026

| DIRECTORS: | M J Toyne

| Miss E H Toyne

| M T Toyne

| Mrs Z S Toyne

| REGISTERED OFFICE: | 7 Gate Lane

| Boldmere

| Sutton Coldfield

| West Midlands

| B73 5TR

| REGISTERED NUMBER: | 09160232 (England and Wales)

| ACCOUNTANTS: | Tomkinson Teal (Lichfield) LLP

| Hanover Court

| 5 Queen Street

| Lichfield

| Staffordshire

| WS13 6QD

| Maxell FM Ltd (Registered number: 09160232) |

Balance Sheet

28 February 2026

| 2026 |  | 2025

| Notes | £ | £ |

FIXED ASSETS

Investments | 4 | 100 |  | 100 |  |

Investment property | 5 | 880,000 |  | 880,000 |  |

880,100 |  | 880,100 |  |

CURRENT ASSETS

Debtors | 6 | 3,260 |  | - |  |

Cash at bank | 2,210 |  | 679 |  |

5,470 |  | 679 |  |

CREDITORS

Amounts falling due within one year | 7 | (235,201 | ) | (97,108 | ) |

NET CURRENT LIABILITIES | (229,731 | ) | (96,429 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 650,369 |  | 783,671 |  |

CREDITORS

Amounts falling due after more than one year | 8 | - |  | (164,852 | ) |

PROVISIONS FOR LIABILITIES | 10 | (74,000 | ) | (74,000 | ) |

NET ASSETS | 576,369 |  | 544,819 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 100 |  | 100 |  |

Retained earnings | 576,269 |  | 544,719 |  |

SHAREHOLDERS' FUNDS | 576,369 |  | 544,819 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

| Maxell FM Ltd (Registered number: 09160232) |

Balance Sheet - continued

28 February 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2026 and were signed on its behalf by:

M J Toyne - Director

| Maxell FM Ltd (Registered number: 09160232) |

Notes to the Financial Statements

for the Year Ended 28 February 2026

1. | STATUTORY INFORMATION

| Maxell FM 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.

| 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 as modified by the revaluation of certain assets.

| Turnover

| Turnover represents net invoiced property rental.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| 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 Profit and Loss Account, 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.

3. | EMPLOYEES AND DIRECTORS

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

| Maxell FM Ltd (Registered number: 09160232) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2026

4. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 March 2025

| and 28 February 2026 | 100 |  |

| NET BOOK VALUE

| At 28 February 2026 | 100 |  |

| At 28 February 2025 | 100 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 March 2025

| and 28 February 2026 | 880,000 |  |

| NET BOOK VALUE

| At 28 February 2026 | 880,000 |  |

| At 28 February 2025 | 880,000 |  |

| Investment properties were valued on an open market basis on 28 February 2026 by the director and this valuation has been used in the financial statements.

| Fair value at 28 February 2026 is represented by:

£ |

| Valuation in 2020 | 160,338 |  |

| Valuation in 2025 | 151,126 |  |

| Cost | 568,536 |  |

880,000 |  |

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

2026 | 2025 |

£ | £ |

| Other debtors | 3,260 |  | - |  |

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

2026 | 2025 |

£ | £ |

| Bank loans and overdrafts | 48,694 |  | 4,027 |  |

| Amounts owed to group undertakings | 182,993 |  | 91,798 |  |

| Taxation and social security | 3,001 |  | 771 |  |

| Other creditors | 513 |  | 512 |  |

235,201 |  | 97,108 |  |

| Maxell FM Ltd (Registered number: 09160232) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2026

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

2026 | 2025 |

£ | £ |

| Bank loans | - |  | 164,852 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | - |  | 145,141 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2026 | 2025 |

£ | £ |

| Bank loans | 48,694 |  | 168,879 |  |

| There is a charge over on of the company's investment properties in favour of National Westminster Bank plc dated 28 Jul 2023.

10. | PROVISIONS FOR LIABILITIES

2026 | 2025 |

£ | £ |

| Deferred tax | 74,000 |  | 74,000 |  |

| Deferred |

| tax |

£ |

| Balance at 1 March 2025 | 74,000 |  |

| Balance at 28 February 2026 | 74,000 |  |

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2026 | 2025 |

| value: | £ | £ |

| 55 | Ordinary A | £1 | 55 |  | 55 |  |

| 20 | Ordinary B | £1 | 20 |  | 20 |  |

| 10 | Ordinary C | £1 | 10 |  | 10 |  |

| 5 | Ordinary D | £1 | 5 |  | 5 |  |

| 5 | Ordinary E | £1 | 5 |  | 5 |  |

| 5 | Ordinary F | £1 | 5 |  | 5 |  |

100 |  | 100 |  |

| The holders of the C shares have no voting rights and no rights on a return of capital or otherwise. In all other respects, all shares rank pari passu.

| Maxell FM Ltd (Registered number: 09160232) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2026

12. | RELATED PARTY DISCLOSURES

| H20 Plumbing Services Limited

| Subsidiary company

| During the period, the company received property rental income of £13,600 (2025 - £13,600) and dividends of £25,500 (2025 - £100,000) from H20 Plumbing Services Limited.

| Amount owed to H20 Plumbing Services Limited totalled £182,993 (2025 - £91,798).

| The amount owed to H20 Plumbing Services Limited is unsecured and has no specific terms regarding the payment of interest. The amount due is repayable on demand but the directors of H20 Plumbing Services Limited have given their assurances that the amount will not be demanded for payment until such time as Maxell FM Limited can afford to do so without detriment to its operating and working capital requirements.

Chartered Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

Maxell FM Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Maxell FM Ltd for the year ended 28 February 2026 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Maxell FM Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Maxell FM Ltd and state those matters that we have agreed to state to the Board of Directors of Maxell FM Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maxell FM Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Maxell FM Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Maxell FM Ltd. You consider that Maxell FM Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Maxell FM Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Tomkinson Teal (Lichfield) LLP

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

25 June 2026