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REGISTERED NUMBER: 02347178 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30TH NOVEMBER 2025 |

| FOR |

| JP MARLAND AND SONS LIMITED |

JP MARLAND AND SONS LIMITED (REGISTERED NUMBER: 02347178)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

JP MARLAND AND SONS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30TH NOVEMBER 2025

| DIRECTORS: | The Rt Hon The Lord Marland Of Odstock

| The Hon M Marland

| The Hon H Marland

| SECRETARY: | Mrs J Lang

| REGISTERED OFFICE: | Ground Floor East

| 78 Belgrave Road

| London

| SW1V 2BJ

| REGISTERED NUMBER: | 02347178 (England and Wales)

| ACCOUNTANTS: | Martin and Company

| 25 St Thomas Street

| Winchester

| Hampshire

| SO23 9HJ

JP MARLAND AND SONS LIMITED (REGISTERED NUMBER: 02347178)

BALANCE SHEET

30TH NOVEMBER 2025

| 2025 | 2024 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 475,565 |  | 347,477 |  |

Investments | 5 | 1,914,770 |  | 6,406,854 |  |

Investment property | 6 | 1,008,216 |  | 1,008,216 |  |

3,398,551 |  | 7,762,547 |  |

CURRENT ASSETS

Debtors | 7 | 823,311 |  | 978,150 |  |

Investments | 8 | 5,403,010 |  | - |  |

Cash at bank and in hand | 5,182,677 |  | 606,669 |  |

11,408,998 |  | 1,584,819 |  |

CREDITORS

Amounts falling due within one year | 9 | 659,919 |  | 97,911 |  |

NET CURRENT ASSETS | 10,749,079 |  | 1,486,908 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 14,147,630 |  | 9,249,455 |  |

CAPITAL AND RESERVES

Called up share capital | 14,287 |  | 14,287 |  |

Retained earnings | 14,133,343 |  | 9,235,168 |  |

SHAREHOLDERS' FUNDS | 14,147,630 |  | 9,249,455 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2025 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.

JP MARLAND AND SONS LIMITED (REGISTERED NUMBER: 02347178)

BALANCE SHEET - continued

30TH NOVEMBER 2025

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 15th July 2026 and were signed on its behalf by:

The Rt Hon The Lord Marland Of Odstock - Director

JP MARLAND AND SONS LIMITED (REGISTERED NUMBER: 02347178)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2025

1. | STATUTORY INFORMATION

| JP Marland and Sons 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" 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 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.

| Land and buildings | - | 2% on cost

| Plant and machinery etc | - | 33.33% on cost, 25% on reducing balance and 4% on cost

| 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 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

JP MARLAND AND SONS LIMITED (REGISTERED NUMBER: 02347178)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Fixed asset investments

| FRS 102 requires investments to be stated at fair value except where the fair value cannot be measured reliably. Listed fixed asset investments are held at fair value with the gain/loss recognised in the profit and loss account. Where the fair value cannot be measured reliably, unlisted investments will be held at cost less impairment.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1st December 2024 | 256,689 |  | 202,856 |  | 459,545 |  |

| Additions | - |  | 185,071 |  | 185,071 |  |

| Disposals | - |  | (76,000 | ) | (76,000 | ) |

| At 30th November 2025 | 256,689 |  | 311,927 |  | 568,616 |  |

| DEPRECIATION

| At 1st December 2024 | 25,664 |  | 86,404 |  | 112,068 |  |

| Charge for year | 5,132 |  | 27,805 |  | 32,937 |  |

| Eliminated on disposal | - |  | (51,954 | ) | (51,954 | ) |

| At 30th November 2025 | 30,796 |  | 62,255 |  | 93,051 |  |

| NET BOOK VALUE

| At 30th November 2025 | 225,893 |  | 249,672 |  | 475,565 |  |

| At 30th November 2024 | 231,025 |  | 116,452 |  | 347,477 |  |

JP MARLAND AND SONS LIMITED (REGISTERED NUMBER: 02347178)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH NOVEMBER 2025

5. | FIXED ASSET INVESTMENTS

| Shares in |

| group |  | Other |

| undertakings |  | investments |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1st December 2024 | 10 |  | 6,406,844 |  | 6,406,854 |  |

| Additions | - |  | 505,604 |  | 505,604 |  |

| Disposals | - |  | (443,721 | ) | (443,721 | ) |

| Revaluations | - |  | 6,992 |  | 6,992 |  |

| Reclassification/transfer | - |  | (4,560,959 | ) | (4,560,959 | ) |

| At 30th November 2025 | 10 |  | 1,914,760 |  | 1,914,770 |  |

| NET BOOK VALUE

| At 30th November 2025 | 10 |  | 1,914,760 |  | 1,914,770 |  |

| At 30th November 2024 | 10 |  | 6,406,844 |  | 6,406,854 |  |

| Cost or valuation at 30th November 2025 is represented by:

| Shares in |

| group |  | Other |

| undertakings |  | investments |  | Totals

£ | £ | £ |

| Valuation in 2020 | - |  | (154,822 | ) | (154,822 | ) |

| Valuation in 2021 | - |  | (5,787,152 | ) | (5,787,152 | ) |

| Valuation in 2022 | - |  | (277,659 | ) | (277,659 | ) |

| Valuation in 2023 | - |  | 49,303 |  | 49,303 |  |

| Valuation in 2024 | - |  | 72,710 |  | 72,710 |  |

| Valuation in 2025 | - |  | 6,992 |  | 6,992 |  |

| Cost | 10 |  | 8,005,388 |  | 8,005,398 |  |

10 |  | 1,914,760 |  | 1,914,770 |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1st December 2024

| and 30th November 2025 | 1,008,216 |  |

| NET BOOK VALUE

| At 30th November 2025 | 1,008,216 |  |

| At 30th November 2024 | 1,008,216 |  |

JP MARLAND AND SONS LIMITED (REGISTERED NUMBER: 02347178)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH NOVEMBER 2025

6. | INVESTMENT PROPERTY - continued

| The directors have considered the valuation of the investment property and consider it to be an accurate valuation as at the balance sheet date and no further revaluation is considered necessary.

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

2025 | 2024 |

| as restated |

£ | £ |

| Trade debtors | 9,333 |  | 2,904 |  |

| Other debtors | 813,978 |  | 975,246 |  |

823,311 |  | 978,150 |  |

8. | CURRENT ASSET INVESTMENTS

2025 | 2024 |

| as restated |

£ | £ |

| Unlisted investments | 5,403,010 |  | - |  |

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

2025 | 2024 |

| as restated |

£ | £ |

| Trade creditors | 1,284 |  | 2,284 |  |

| Taxation and social security | 629,655 |  | 4,739 |  |

| Other creditors | 28,980 |  | 90,888 |  |

659,919 |  | 97,911 |  |

10. | OTHER FINANCIAL COMMITMENTS

| Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £685,133 (2024: £702,333) due over a total period of 40 years.

JP MARLAND AND SONS LIMITED (REGISTERED NUMBER: 02347178)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH NOVEMBER 2025

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 30th November 2025 and 30th November 2024:

2025 | 2024 |

| as restated |

£ | £ |

| The Hon H Marland

| Balance outstanding at start of year | (7,715 | ) | (7,715 | ) |

| Amounts advanced | 10,200 |  | - |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 2,485 |  | (7,715 | ) |

| The Hon M Marland

| Balance outstanding at start of year | (7,715 | ) | (7,715 | ) |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (7,715 | ) | (7,715 | ) |