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REGISTERED NUMBER: 05890328 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 December 2025

for

Rebo UK Limited

Rebo UK Limited (Registered number: 05890328)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Director | 4 |

Report of the Independent Auditors | 5 |

Income statement | 9 |

Balance Sheet | 10 |

Statement of Changes in Equity | 11 |

Notes to the Financial Statements | 12 |

Rebo UK Limited

Company Information

for the Year Ended 31 December 2025

| DIRECTOR: | Mr J King

| REGISTERED OFFICE: | C/O Wilson Partners

| TOR Saint-Cloud Way

| Maidenhead

| Berkshire

| SL6 8BN

| REGISTERED NUMBER: | 05890328 (England and Wales)

| AUDITORS: | DKR Chartered Accountants & Tax Consultants

| 36 Lichfield Street

| Walsall

| West Midlands

| WS1 1TJ

Rebo UK Limited (Registered number: 05890328)

Strategic Report

for the Year Ended 31 December 2025

The director presents his strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The company continued its principal activities throughout the financial year ending 31 December 2025. The directors monitor the performance of the business using a number of financial and operational measures. As shown in the income statement, revenue for the period increased to £15.954 million (2024: £15.624 million), representing the company's highest turnover to date and a solid performance against a backdrop of subdued consumer demand and challenging trading conditions across the sector.

Sales held up well in a difficult market, reflecting the strength of the company's brand, the appeal of its product range, and the continued effectiveness of its digital marketing. Gross profit was maintained at £6.494 million (2024: £6.478 million).

A key operational milestone during the year was the completion of the company's site consolidation programme, with all operations successfully relocated onto a single site. While this consolidation gave rise to a number of one-off costs that impacted current year profitability, the directors are confident that the benefits will be realised from 2026 onwards through improved operational efficiency, lower running costs, and enhanced profitability.

In addition, the company incurred group recharges of £662,979 during the year under a new intercompany transfer pricing arrangement implemented by the wider group. Together with the one-off costs associated with the site consolidation, these factors impacted current-year profitability.

The company also continued to support the expansion of its activities in Europe, where the underlying market is growing and where more targeted marketing investment is expected to support sustained future growth. The directors view this as an important area of opportunity for the company over the medium term.

The directors are pleased with the company's underlying performance in what has been a transitional year. The business enters 2026 with a consolidated operational footprint, a strengthened platform for growth, and clear strategic priorities focused on delivering long-term value to its customers and stakeholders.

Rebo UK Limited (Registered number: 05890328)

Strategic Report

for the Year Ended 31 December 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider the most significant risks faced by the company to be the ongoing economic uncertainty, including inflationary pressures affecting material costs and transportation services. These factors have the potential to impact both input costs and customer demand.

To mitigate these risks, the company maintains a flexible cost structure, allowing it to preserve profitability in the event of market downturns. Freight costs are closely monitored, and purchasing decisions are regularly adjusted in response to changing logistics costs to ensure operational efficiency.

In relation to raw materials, particularly timber, the company proactively evaluates alternative suppliers to secure competitive pricing and continuity of supply. This diversified sourcing approach helps protect against volatility in commodity markets.

All key risks are actively monitored and are subject to regular review by the board to ensure the company remains responsive and resilient in a dynamic trading environment.

ON BEHALF OF THE BOARD:

Mr J King - Director

23 June 2026

Rebo UK Limited (Registered number: 05890328)

Report of the Director

for the Year Ended 31 December 2025

The director presents his 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 retail of leisure activities.

DIVIDENDS

The directors do not recommend the payment of a dividend (year ended 31 December 2024: nil).

DIRECTOR

Mr J King held office during the whole of the period from 1 January 2025 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, Directors' Report 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;

- 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is 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 he 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:

Mr J King - Director

23 June 2026

Report of the Independent Auditors to the Members of

Rebo UK Limited

Opinion

We have audited the financial statements of Rebo UK Limited (the 'company') for the year ended 31 December 2025 which comprise the Income statement, 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 loss 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Rebo UK 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 Director.

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 director's remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Rebo UK 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. 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 identified areas of laws and regulation that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors, and other management, and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws, and regulations through our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), pensions legislation, and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Whilst the the procedures undertaken to detect irregularities vary from audit to audit, based on the specific audit risks identified and assessed as material, the procedures may include the following:

* Enquiry of management and key staff

* Reviewing minutes of meetings

* Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

* Performing audit work over the risk of management override including testing of journals and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

In addition, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance through the imposition of fines.

We identified the following areas as those most likely to have such an effect: health and safety, General Data Protection Regulation (GDP), fraud, bribery and corruption and employment law. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. The identified actual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as a key audit matter.

Report of the Independent Auditors to the Members of

Rebo UK Limited

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulation.

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.

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.

Stephen Gray (Senior Statutory Auditor)

for and on behalf of DKR Chartered Accountants & Tax Consultants

36 Lichfield Street

Walsall

West Midlands

WS1 1TJ

23 June 2026

Rebo UK Limited (Registered number: 05890328)

Income statement

for the Year Ended 31 December 2025

| 31.12.25 |  | 31.12.24

| as restated |

| Notes | £ | £ |

TURNOVER | 3 | 15,954,062 |  | 15,624,441 |  |

Cost of sales | (9,459,857 | ) | (9,146,154 | ) |

GROSS PROFIT | 6,494,205 |  | 6,478,287 |  |

Administrative expenses | (6,461,899 | ) | (5,723,912 | ) |

32,306 |  | 754,375 |  |

Other operating income | 70,509 |  | 13,912 |  |

OPERATING PROFIT | 5 | 102,815 |  | 768,287 |  |

Interest payable and similar expenses | 6 | (174,742 | ) | (187,141 | ) |

(LOSS)/PROFIT BEFORE TAXATION | (71,927 | ) | 581,146 |  |

Tax on (loss)/profit | 7 | (13,616 | ) | 55,813 |  |

(LOSS)/PROFIT FOR THE FINANCIAL YEAR | (85,543 | ) | 636,959 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (85,543 | ) | 636,959 |  |

Rebo UK Limited (Registered number: 05890328)

Balance Sheet

31 December 2025

| 31.12.25 |  | 31.12.24

| as restated |

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 9 | 911,724 |  | 861,557 |  |

Tangible assets | 10 | 876,633 |  | 378,085 |  |

Investments | 11 | 23,528 |  | 23,528 |  |

1,811,885 |  | 1,263,170 |  |

CURRENT ASSETS

Stocks | 12 | 6,267,781 |  | 5,003,374 |  |

Debtors | 13 | 5,736,044 |  | 5,787,531 |  |

Cash at bank | 1,253,139 |  | 1,484,698 |  |

13,256,964 |  | 12,275,603 |  |

CREDITORS

Amounts falling due within one year | 14 | (6,536,532 | ) | (4,934,529 | ) |

NET CURRENT ASSETS | 6,720,432 |  | 7,341,074 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 8,532,317 |  | 8,604,244 |  |

PROVISIONS FOR LIABILITIES | 17 | (100,806 | ) | (87,190 | ) |

NET ASSETS | 8,431,511 |  | 8,517,054 |  |

CAPITAL AND RESERVES

Called up share capital | 18 | 1 |  | 1 |  |

Retained earnings | 19 | 8,431,510 |  | 8,517,053 |  |

SHAREHOLDERS' FUNDS | 8,431,511 |  | 8,517,054 |  |

The financial statements were approved by the director and authorised for issue on 23 June 2026 and were signed by:

Mr J King - Director

Rebo UK Limited (Registered number: 05890328)

Statement of Changes in Equity

for the Year Ended 31 December 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 January 2024 | 1 |  | 7,880,094 |  | 7,880,095 |  |

Changes in equity

Total comprehensive income | - |  | 636,959 |  | 636,959 |  |

Balance at 31 December 2024 | 1 |  | 8,517,053 |  | 8,517,054 |  |

Changes in equity

Total comprehensive income | - |  | (85,543 | ) | (85,543 | ) |

Balance at 31 December 2025 | 1 |  | 8,431,510 |  | 8,431,511 |  |

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Rebo UK Limited is a limited company incorporated in the United Kingdom under the Companies Act 2006. The address of the registered office and principal place of business is given on page I. The nature of the company's operations and its principal activities are set out in the business review on page 2.

| 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The principal accounting policies have been applied consistently throughout the year and are set out below. The company has taken advantage of certain exemptions under FRS 102 which are detailed below. The functional currency is pounds sterling.

| Going concern

| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

| 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.

| Related parties

| The company is a qualifying entity under FRS 102 and has taken advantage of the disclosure exemptions available under paragraph 1.12 and the related party exemption in paragraph 33.1A to disclose related party transactions with entities which are wholly owned within the group. The consolidated financial statements of Garden & House International GmbH are publicly available and can be obtained from the address given in note 18.

| Preparation of consolidated financial statements

| The financial statements contain information about Rebo UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Garden & House International GmbH, Bahrhenfelder Chaussee 49, 22761 Hamburg, Germany.

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Significant judgements and estimates

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if revision only affects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| Management has exercised judgement in determining that certain expenditure incurred in relation to the fit-out and improvement of the Company's Welshpool property meets the criteria for capitalisation as leasehold improvements under FRS 102.

| Between July 2025 and December 2025, a number of employees were directly engaged in activities associated with preparing and improving the property for operational use. A proportion of employee costs was therefore capitalised where those costs were directly attributable to bringing the asset to the condition necessary for its intended use.

| The capitalised employee costs were determined based on monthly assessments of time spent on qualifying activities. This involved 14 employees whose attributable time ranged from approximately 9% to 100% of their salaries during the relevant period. The percentage allocation was calculated using actual hours worked on the project each month.

| Management also applied estimates in determining the expected useful economic life of the leasehold improvements for depreciation purposes, which is deemed to be in line with the length of the lease, which is 10 years.

| Management has exercised judgement in determining that development expenditure capitalised within intangible assets satisfies the recognition criteria under FRS 102, specifically that the projects are technically feasible, commercially viable, and expected to generate probable future economic benefits.

| The capitalised costs principally comprise employee costs directly attributable to product development activities. During the year, approximately 60% of the salaries of 8 employees were capitalised based on management's assessment of the proportion of time spent developing products for the Company.

| The allocation percentages were determined through reviews of employee activities and time spent on qualifying development work. Management applied estimation in determining the proportion of directly attributable costs eligible for capitalisation and in assessing the expected useful economic lives over which the related intangible assets will be amortised.

| Management has applied estimation in determining the proportion of direct employee and production costs to include within inventory relating to modular stock manufactured by the Company.

| The Company manufactures modular stock within its own facilities using internal employees prior to sale. In accordance with FRS 102, inventory is measured at the lower of cost and net realisable value and therefore includes directly attributable costs incurred in bringing stock to its present location and condition.

| The proportion of costs capitalised was estimated by reference to the level of modular self-produced goods as a proportion of overall production activity during the year. In 2025, modular self-produced goods represented approximately 85.5% of relevant activity. The estimate is reviewed annually and adjusted where appropriate based on operational activity and production levels.

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover represents amounts receivable for goods supplied in the normal course of business, stated net of trade discounts, rebates, value added tax and other sales taxes.

| Turnover is measured at the fair value of the consideration received or receivable and is recognised when control of the goods has transferred to the customer. For the Company, this is generally upon dispatch of outdoor toys and related products to customers, at which point the significant risks and rewards of ownership have passed and the Company has the right to consideration.

| Intangible fixed assets and development costs

| Intangible assets, comprising computer software and development costs, were measured initially at purchase cost and are amortised at a rate of 15% and 25% per annum on a reducing balance basis. On 01 January 2024, the amortisation rate for intangibles outside of website development was changed to 15% and 25% straight line and applied prospectively in line with FRS 102 10.16.

| Tangible fixed assets

| Tangible fixed assets are measured using the cost model. These assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management

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

| Plant and machinery - 33% and 14% on cost 15% reducing on balance

| Fixtures and fittings - 15%, 25% and 33% on cost and 15% reducing on balance

| Computer equipment - 33% on cost and 15% on reducing balance

| Motor vehicles - 33% on cost and 15% on reducing balance

| Stocks

| Stocks are valued at the lower of cost and net realisable value.

| Cost comprises all costs of purchase, costs of conversion (where applicable) and other costs incurred in bringing the inventories to their present location and condition. Costs include purchase price, import duties, non-refundable taxes, transport and handling costs directly attributable to the acquisition of stock, net of trade discounts and rebates.

| The cost of inventories is assigned using the first-in, first-out ('FIFO') method.

| At each reporting date, inventories are assessed for impairment and provision is made where necessary for obsolete, slow-moving or damaged items. The assessment of net realisable value is based on the most reliable evidence available at the time the estimates are made, taking into consideration current market conditions and expected future sales of inventory items.

| Net realisable value is based on estimated selling price less all estimated costs to completion and costs to be incurred in marketing, selling and distribution.

| Inventory stock counts are performed periodically and adjusted to reflect actual quantities held. Any stock losses identified are recognised in the profit and loss account in the period in which they arise.

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Financial assets

| Basic financial assets, including trade debtors, cash and bank balances and amounts owed by group undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| Such assets are subsequently carried at amortised cost using the effective interest method.

| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the income statement.

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

| Financial Liabilities

| Basic financial liabilities, including trade creditors and amounts owed to group undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| Taxation

| Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other income or directly in equity. In this case tax is also recognised in other income or directly in equity respectively. Current or deferred taxation assets and liabilities are not discounted.

| Current tax

| Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| 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

| Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. Revenue and expenditure items are translated at the rate of exchange ruling on the date that the transaction takes place.

| Exchange differences are included in the Income Statement.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

| The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

| 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. | TURNOVER

| The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the company.

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

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| United Kingdom | 15,654,075 |  | 15,564,672 |  |

| Europe | 299,987 |  | 59,769 |  |

15,954,062 |  | 15,624,441 |  |

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | EMPLOYEES AND DIRECTORS

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| Wages and salaries | 1,157,008 |  | 1,712,060 |  |

| Social security costs | 186,532 |  | 144,527 |  |

| Other pension costs | 63,139 |  | 28,550 |  |

1,406,679 |  | 1,885,137 |  |

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

| 31.12.25 |  | 31.12.24

| as restated |

| Directors | 2 |  | 2 |  |

| Administration | 4 |  | 4 |  |

| Warehouse and Sales | 57 |  | 58 |  |

63 |  | 64 |  |

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| Directors' remuneration | 161,142 |  | 157,814 |  |

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

| Money purchase schemes | 1 |  | 1 |  |

5. | OPERATING PROFIT

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

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| Hire of plant and machinery | 13,792 |  | 8,424 |  |

| Other operating leases | 84,628 |  | 215,136 |  |

| Depreciation - owned assets | 161,107 |  | 156,066 |  |

| (Profit)/loss on disposal of fixed assets | (9,677 | ) | 7,851 |  |

| Development costs amortisation | 279,439 |  | 169,838 |  |

| Computer software amortisation | 102,421 |  | 82,648 |  |

| Auditors' remuneration | 30,000 |  | 28,600 |  |

| Foreign exchange differences | (200,860 | ) | 131,379 |  |

| Stock impairment | - |  | 75,000 |  |

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| Bank interest | 169,902 |  | 154,861 |  |

| HMRC Interest | 1,673 |  | 1,733 |  |

| Hire purchase | 3,167 |  | 30,547 |  |

174,742 |  | 187,141 |  |

7. | TAXATION

| Analysis of the tax charge/(credit)

| The tax charge/(credit) on the loss for the year was as follows:

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| Deferred tax | 13,616 |  | (55,813 | ) |

| Tax on (loss)/profit | 13,616 |  | (55,813 | ) |

| Reconciliation of total tax charge/(credit) included in profit and loss

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

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| (Loss)/profit before tax | (71,927 | ) | 581,146 |  |

| (Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | (17,982 | ) | 145,287 |  |

| Effects of:

| Expenses not deductible for tax purposes | 13,450 |  | 5,711 |  |

| Adjustments to tax charge in respect of previous periods | (27,126 | ) | 52,039 |  |

| Losses utilised against profits | 35,497 |  | (98,904 | ) |

| Deferred tax changes | 13,616 |  | (55,813 | ) |

| Group relief | - |  | (100,394 | ) |

| Expenses deductible for tax purposes | (3,839 | ) | (3,739 | ) |

| Total tax charge/(credit) | 13,616 |  | (55,813 | ) |

| The company has tax losses of £141,986 (2024: £nil) available to offset against future trading profits.

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | PRIOR YEAR ADJUSTMENT

| In preparing the financial statements for the year ended 31 December 2025, the company identified errors in the prior year figures. Amounts totalling £309,872.40 previously shown as cash at bank have been reclassified to trade debtors. This correction has been reflected in the comparative figures for the year ended 31 December 2024.

9. | INTANGIBLE FIXED ASSETS

| Development |  | Computer |

| costs |  | software |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 834,809 |  | 462,107 |  | 1,296,916 |  |

| Additions | 348,642 |  | 83,385 |  | 432,027 |  |

| At 31 December 2025 | 1,183,451 |  | 545,492 |  | 1,728,943 |  |

| AMORTISATION

| At 1 January 2025 | 228,140 |  | 207,219 |  | 435,359 |  |

| Amortisation for year | 279,439 |  | 102,421 |  | 381,860 |  |

| At 31 December 2025 | 507,579 |  | 309,640 |  | 817,219 |  |

| NET BOOK VALUE

| At 31 December 2025 | 675,872 |  | 235,852 |  | 911,724 |  |

| At 31 December 2024 | 606,669 |  | 254,888 |  | 861,557 |  |

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

10. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures

| to |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 January 2025 | - |  | 432,619 |  | 189,895 |  |

| Additions | 602,852 |  | 40,254 |  | 6,891 |  |

| Disposals | - |  | (2,200 | ) | - |  |

| At 31 December 2025 | 602,852 |  | 470,673 |  | 196,786 |  |

| DEPRECIATION

| At 1 January 2025 | - |  | 248,120 |  | 88,024 |  |

| Charge for year | 12,578 |  | 49,674 |  | 42,574 |  |

| Eliminated on disposal | - |  | (1,708 | ) | - |  |

| At 31 December 2025 | 12,578 |  | 296,086 |  | 130,598 |  |

| NET BOOK VALUE

| At 31 December 2025 | 590,274 |  | 174,587 |  | 66,188 |  |

| At 31 December 2024 | - |  | 184,499 |  | 101,871 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 148,353 |  | 103,588 |  | 874,455 |  |

| Additions | - |  | 10,358 |  | 660,355 |  |

| Disposals | - |  | (791 | ) | (2,991 | ) |

| At 31 December 2025 | 148,353 |  | 113,155 |  | 1,531,819 |  |

| DEPRECIATION

| At 1 January 2025 | 99,493 |  | 60,733 |  | 496,370 |  |

| Charge for year | 38,984 |  | 17,297 |  | 161,107 |  |

| Eliminated on disposal | - |  | (583 | ) | (2,291 | ) |

| At 31 December 2025 | 138,477 |  | 77,447 |  | 655,186 |  |

| NET BOOK VALUE

| At 31 December 2025 | 9,876 |  | 35,708 |  | 876,633 |  |

| At 31 December 2024 | 48,860 |  | 42,855 |  | 378,085 |  |

| Within Motor Vehicles, the net book value of assets on hire purchase as at the year end was £nil (2024 : £14,830).

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

11. | FIXED ASSET INVESTMENTS

| Unlisted

| investments

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 23,528 |  |

| NET BOOK VALUE

| At 31 December 2025 | 23,528 |  |

| At 31 December 2024 | 23,528 |  |

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

| Rebo International GmbH

| Registered office: Bahrenfelder Chausse 49, 22761 Hamburg, Germany

| Nature of business: Retail toy company

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.12.25 |  | 31.12.24

£ | £ |

| Aggregate capital and reserves | (5,190,041 | ) | (3,195,893 | ) |

| Loss for the year | (1,334,260 | ) | (1,152,744 | ) |

12. | STOCKS

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| Raw materials | 2,327,417 |  | 701,429 |  |

| Finished goods | 3,940,364 |  | 4,301,945 |  |

6,267,781 |  | 5,003,374 |  |

| Included within the finished goods total is £751,109.65 of stock held in Germany.

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

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| Trade debtors | 146,724 |  | 317,251 |  |

| Amounts owed by group undertakings | 4,486,012 |  | 4,036,067 |  |

| Other debtors | 4,274 |  | - |  |

| Prepayments and accrued income | 1,099,034 |  | 1,434,213 |  |

5,736,044 |  | 5,787,531 |  |

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

| The directors consider that the carrying value of trade and other receivables approximates to their fair value.

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

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| Hire purchase contracts (see note 15) | - |  | 21,886 |  |

| Trade creditors | 2,971,478 |  | 1,753,514 |  |

| Social security and other taxes | 60,297 |  | 42,138 |  |

| VAT | 151,566 |  | 531,276 |  |

| Other creditors | 3,309,421 |  | 2,431,736 |  |

| Accrued expenses | 43,770 |  | 153,979 |  |

6,536,532 |  | 4,934,529 |  |

| The directors consider that the carrying value of trade and other payables approximates to their fair value.

15. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 31.12.25 |  | 31.12.24 |

| as restated |

£ | £ |

| Net obligations repayable:

| Within one year | - |  | 21,886 |  |

| Non-cancellable |

| operating leases |

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| Within one year | 432,107 |  | 254,909 |  |

| Between one and five years | 1,188,176 |  | 83,125 |  |

1,620,283 |  | 338,034 |  |

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

16. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| HSBC trade finance facility | 3,209,047 |  | 2,149,502 |  |

| Hire Purchase Contracts | - |  | 21,886 |  |

3,209,047 |  | 2,171,388 |  |

| The HSBC trade finance facility is secured by a fixed and floating charge over the company's assets.

| The Hire Purchase Liabilities are secured on the underlying assets.

17. | PROVISIONS FOR LIABILITIES

| 31.12.25 |  | 31.12.24

| as restated |

£ | £ |

| Deferred tax | 100,806 |  | 87,190 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 87,190 |  |

| Movement for the year | 13,616 |  |

| Balance at 31 December 2025 | 100,806 |  |

| The provision for deferred taxation is made up as follows |  |

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Accelerated capital allowances |  | 100,806 |  | 87,190 |  |

| Corporation tax losses |  | - |  | - |  |

|  | 100,806 |  | 87,190 |  |

18. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.25 |  | 31.12.24

| value: |  | as restated |

£ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

Rebo UK Limited (Registered number: 05890328)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

19. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2025 | 8,517,053 |  |

| Deficit for the year | (85,543 | ) |

| At 31 December 2025 | 8,431,510 |  |

20. | PENSION COMMITMENTS

| The company contributes to a defined contribution scheme for employees. The charge to profit for the year in respect of the scheme was £104,645 (2024: £46,624). At the year end the amount not paid to the pension provider was £nil (2024: £8,046).

21. | ULTIMATE CONTROLLING PARTY

| The company's ultimate and controlling parent company is Garden & House International GmbH, incorporated in Germany. Garden & House International GmbH. is the only company that prepares consolidated group financial statements that include the results of this company. Copies of the group financial statements may be publicly obtained from Garden & House International GmbH, Bahrhenfelder Chaussee 49, 22761 Hamburg, Gennany.