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REGISTERED NUMBER: 04460989 (England and Wales)

| Group Strategic Report, Report of the Directors and |

| Consolidated Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| ESP Global Holdings Limited |

| ESP Global Holdings Limited (Registered number: 04460989) |

Contents of the Consolidated Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 5 |

| Report of the Independent Auditors | 12 |

| Consolidated Income Statement | 15 |

| Consolidated Other Comprehensive Income | 16 |

| Consolidated Balance Sheet | 17 |

| Company Balance Sheet | 18 |

| Consolidated Statement of Changes in Equity | 19 |

| Company Statement of Changes in Equity | 20 |

| Consolidated Cash Flow Statement | 21 |

| Notes to the Consolidated Cash Flow Statement | 22 |

| Notes to the Consolidated Financial Statements | 24 |

| ESP Global Holdings Limited |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | Dr M G W Harling

| Ms A M Bradbury

| SECRETARY: | Dr M G W Harling

| REGISTERED OFFICE: | 5 Acre Road

| Reading

| Berkshire

| RG2 0SU

| REGISTERED NUMBER: | 04460989 (England and Wales)

| ESP Global Holdings Limited (Registered number: 04460989) |

Group Strategic Report

for the Year Ended 31 December 2025

The directors present their strategic report and financial statements for the year ended 31 December 2025.

STRATEGY AND BUSINESS MODEL

ESP Global Holdings Limited ("ESP or Group") is a global provider of local IT support offering a number of different services to both the Aviation industry and international organisations:

- |  | Service Desk - AI enabled, multi-lingual, globally aligned, IT infrastructure management |

- |  | Field Operations - Local teams of vetted staff providing managed services or staff augmentation |

- |  | Lifecycle Services - Asset management from regional logistics centres using a global distribution network |

- |  | Digital Platform - ServiceNow MSP with in-house developers as a dedicated or managed service |

- |  | Project Management - Deployment, upgrades and transition management |

The Group's mission is to delight every customer every time by having the best people delivering the best service anywhere in the world.

The Group's strategy remains focused on driving growth and best in class customer service through the following business sectors:

- |  | Global Aviation Services - the provision of bespoke rapid response service solutions to the travel industry; |

- |  | Global Support Services - the provision of onsite staff and dispatch-based services to internationally distributed organisations either directly or through global systems integrators; and |

- |  | Digital Solutions - Technology-led services including ServiceNow implementations, automation, and its proprietary AirportNow platform to drive operational efficiency and high-value outcomes. |

In keeping with the Group's overall strategy of diversifying its service locations, a service desk facility was opened in Romania in 2023, complemented by a back-office centre in India. Both facilities operate alongside the Group's longstanding offices in Trinidad, Ireland and the UK. Together, these operations enable the Group to maintain global 24-hour customer support with multilingual capabilities.

REVIEW OF BUSINESS

Turnover for the Group was £39.4m for the year 2025 against a total of £36.9m in 2024. The Group saw a 6.7% increase in revenue year over year, driven in part by a large new US customer, United Airlines, which began to contribute significant monthly revenue from the beginning of the year. This contract saw ESP deliver managed services into all United Airlines locations across the US and plays into its longer term strategy of building its business in the US. ESP's ServiceNow practice more than doubled its revenue during 2025 versus the prior year and project revenue also grew, reinforcing its drive to move into higher margin business.

During the year ESP maintained its focus on gross margin and administrative expenses and these were managed tightly without impacting overall service levels. Its gross margin for 2025 was comparable with 2024 at 26.3% and its profit before tax for 2025 ended at £716,291 an improvement of 40.0% over the performance in 2024.

PRINCIPAL RISKS AND UNCERTAINTIES

This section outlines the key principle risks and uncertainties affecting ESP:

Market risk

The aviation sector represents more than a third of the Group's revenue. This sector was significantly impacted during the Covid pandemic by measures aimed at limiting the spread of the disease. Another occurrence of a similar nature would likely have a similarly large impact on the overall results of the company. This risk has been mitigated by developing global support services offering outside of aviation and diversifying its product mix.

| ESP Global Holdings Limited (Registered number: 04460989) |

Group Strategic Report

for the Year Ended 31 December 2025

Success of our partners

ESP's business model has several revenue channels, of which one is providing multi-year contracted services to IT Outsourcing (ITO) companies. This channel generates over 40% of its revenue. This revenue stream is interlinked with the ITO's continued success at winning new contracts or renewing existing contracts. This risk is mitigated by ensuring diversifying relationships to reduce concentration and introducing direct relationships with end-customers where possible.

SECTION 172(1) STATEMENT

The directors of ESP Global Holdings Ltd confirm that, during the financial year, they have acted in the way they consider, in good faith, would be most likely to promote the success of the Group for the benefit of its members as a whole, in accordance with their duties under section 172 of the Companies Act 2006.

In fulfilling their duties under section 172, the directors have had regard to:

- |  | the likely consequences of decisions in the long term; |

- |  | the interests of the Company's employees; |

- |  | the need to foster the Company's business relationships with suppliers, customers and others; |

- |  | the impact of the Company's operations on the community and the environment; |

- |  | the desirability of the Company maintaining a reputation for high standards of business conduct; and |

- |  | the need to act fairly between members of the Company. |

When considering the factors above, the directors have identified the following stakeholders and areas as key to the long-term success of the Company:

Employees

The directors recognise that ESP's people are central to the delivery of high-quality IT services and acknowledge that its continued success depends on the engagement, wellbeing and development of its employees.

The directors ensure that long-term decisions are communicated effectively through regular management briefings, team meetings and one-to-one discussions with managers. During the year, the Group continued to support flexible working arrangements in response to employee feedback and evolving working practices.

The Group is committed to maintaining a positive and inclusive working environment which supports employee wellbeing, professional development and equal opportunities. The directors seek to encourage open communication and employee engagement across all levels of the business.

Further information regarding employee engagement is included within the Directors' Report.

Suppliers and Customers

The directors recognise the importance of maintaining strong and collaborative relationships with customers, suppliers and technology partners.

Customer satisfaction remains critical to the success of the business. The Group engages regularly with clients through service review meetings, feedback processes, digital communication channels and Net Promoter surveys to ensure services continue to meet customer expectations and contractual obligations.

The directors work closely with suppliers and technology partners to ensure operational requirements are met while maintaining compliance with applicable laws, regulations and ethical standards. The Group seeks to build long-term relationships founded on mutual trust, collaboration and innovation. The directors also consider the resilience of the Group's supply chain and the importance of maintaining reliable service delivery to customers in support of the Group's long-term objectives.

| ESP Global Holdings Limited (Registered number: 04460989) |

Group Strategic Report

for the Year Ended 31 December 2025

Environment and Community

The directors recognise the importance of minimising the environmental impact of the Group's operations and supporting sustainable business practices where practicable.

As part of the Directors' Report, the Group is required to produce a Streamlined Energy and Carbon Report ("SECR"). The directors continue to consider energy-efficient initiatives and environmentally responsible practices.

The Group also seeks to operate responsibly within the communities in which it operates and considers the broader social and environmental impact of its activities when making business decisions.

Business Conduct and Shareholders

The directors recognise that maintaining high standards of business conduct is fundamental to the long-term success and reputation of the Group. The Board is committed to operating in a responsible, ethical and transparent manner in all dealings with employees, customers, suppliers and other stakeholders.

The Group maintains policies and procedures designed to support compliance with applicable laws and regulations, promote ethical behaviour and ensure appropriate standards of corporate governance. The directors regularly consider operational, financial and regulatory risks as part of the decision-making process and seek to ensure that the Group conducts its business with integrity and accountability.

The directors also recognise the importance of acting fairly for the members of the Group. Shareholders are kept appropriately informed of the Group's performance and significant matters affecting the business. The Board seeks to ensure that decisions are made impartially and in the best interests of the Group as a whole, while balancing the needs of its wider stakeholder groups.

KEY PERFORMANCE INDICATORS (KPIS)

ESP monitors its performance using a number of financial measures and these include:

Measure |  | 2025 |  | 2024 |

| £m |  | £m |

Turnover |  | 39.4 |  | 36.9 |

Gross Profit |  | 10.4 |  | 9.9 |

Gross Profit % |  | 26.3% |  | 26.8% |

Profit before tax |  | 0.72 |  | 0.51 |

In addition to the above financial KPIs, the company also has non-financial KPIs which include customer surveys through regular customer feedback through its service desk as well as a formal six-monthly Net Promoter Score survey which establishes a benchmark within its industry. It also conducts internal employee pulse surveys.

The directors consider that these indicators, when compared against quarterly forecasts and annual budgets, show that the initiatives to improve the efficiency of the company's operating activities and control costs were successful during 2025. The directors expect that these benefits will also improve the overall financial performance in the following years.

ON BEHALF OF THE BOARD:

Dr M G W Harling - Director

27 July 2026

| ESP Global Holdings Limited (Registered number: 04460989) |

Report of the Directors

for the Year Ended 31 December 2025

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

PRINCIPAL ACTIVITY

ESP Global Holdings Limited ("ESP") is a global provider of local IT support offering a number of different services to both the Aviation industry and international organisations:

- |  | Service Desk - AI enabled, multi-lingual, globally aligned, IT infrastructure management |

- |  | Field Operations - Local teams of vetted staff providing managed services or staff augmentation |

- |  | Lifecycle Services - Asset management from regional logistics centres using a global distribution network |

- |  | Digital Platform - ServiceNow MSP with in-house developers as a dedicated or managed service |

- |  | Project Management - Deployment, upgrades and transition management |

DIVIDENDS

A dividend of £250,000 (2024: Nil) was declared in April 2025.

FUTURE DEVELOPMENTS

ESP will continue to pursue its long-term objective of profitable growth across its core business segments. Strategic priorities for the coming year include deepening the Group's presence in the transportation sector, encompassing airlines, airports, rail, ports, OEM manufacturers and systems integrator partners, while maintaining the scale, geographic reach and revenue diversification provided by the ITO and Direct channels. The Group also intends to grow its Digital Solutions business, including its ServiceNow practice and the AirportNow platform, and to build longer-term contractual relationships that improve revenue predictability. Investment will continue in the people, processes, governance and reporting capabilities required to support this growth in a scalable and resilient manner. Where appropriate to support organic growth, the Group will incorporate new entities in additional geographies.

DIRECTORS

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

Dr M G W Harling

Ms A M Bradbury

FINANCIAL RISK MANAGEMENT

The Group uses a variety of financial instruments including foreign currency FX contracts, an invoice financing facility and unsecured loans. The purpose of these financial instruments is to provide working capital for the Group's operations.

The directors are of the view that the main risks arising from the Group's financial instruments are:

Credit risk

All customers are verified, and credit assessed at the outset of any business relationship and are regularly monitored. Exposure levels are reviewed by senior management on a regular basis. The credit risk associated with trade debtors and accrued income is limited as the counterparties have high credit ratings assigned by international credit-rating agencies.

Liquidity risk

The Group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. Short-term flexibility is achieved through support from our bank in the form of an invoice finance facility.

Foreign Exchange risk

Due to the global nature of the business the Group is exposed to transaction foreign exchange risk. Fluctuations in prices are reviewed on a regular basis and taken into consideration when placing purchase orders and setting the selling price of the Group's services to internally hedge where possible. ESP manages this risk through self-hedging and foreign currency exchange trades.

| ESP Global Holdings Limited (Registered number: 04460989) |

Report of the Directors

for the Year Ended 31 December 2025

DONATIONS

Total charitable donations for the period amounted £1,708 (2024: £6,903)

INVESTMENT

ESP continued to make significant investment in business tools, processes and management with a focus on technological innovation and advancement. There has also been investment in maintaining a number of ISO accreditations, to further strengthen our adherence to worldwide standards and continued improvement in terms of the business and the services delivered. ESP remain accredited with ISO 27001, ISO 20000, ISO 22301, ISO 14001, ISO 45001 and Cyber Essentials Plus.

ESP sees technological innovation as key to growth and as an enabler to service improvement. Continued development of the market leading software platforms utilised within the business to manage and report on service performance, and the introduction of a technology suite including customer self-service applications, support apps and visualisation platforms, has kept ESP at the leading edge of service provision.

GOING CONCERN

As part of the going concern assessment Directors have reviewed forecasts and cashflows and it has been determined that the company has adequate resources to continue in operational existence for the foreseeable future. The Group has cash resources and no further requirement for external funding in excess of current facilities.

Management has therefore prepared the financial reporting on a going concern basis.

BRANCHES OUTSIDE THE UK

The Group operates the following branches outside the UK:

Australia

Registered office: Level 35 Tower One, Barangaroo, Sydney NSW 2000, Australia

Philippines

Registered office: 4/F Unit 2C, One E-com Center Building, Ocean Drive, Mall of Asia Complex, Pasay City, Philippines

Switzerland

Registered office: 65 Rue de Rhone, 1211, Geneve 3, Switzerland

Singapore

Registered office: 30 Petain Road, Singapore, 208099

Italy

Registered office: Via Cristoforo Colombo, 322 scala N interno 1, 00145 Roma

Norway

Registered office: 5 Acre Road, Reading, RG2 0SU

Ireland

Registered office: 5 Acre Road, Reading, RG2 0SU

ENGAGEMENT WITH EMPLOYEES

The Group recognises the importance of employee engagement and ensuring that all employees are kept informed on matters affecting them as employees as well as the performance of the company. The directors personally deliver monthly briefings on company performance, business context and relevant employee issues and these are cascaded throughout the organisation through face to face and digital channels across the globe.

In addition, the Group utilises more informal digital social media to distribute ongoing updates on key business issues and relevant company news.

| ESP Global Holdings Limited (Registered number: 04460989) |

Report of the Directors

for the Year Ended 31 December 2025

Monthly meetings are held with the senior leaders within the business to ensure they are kept informed and updated on the Group's strategic initiatives and change programmes and output from these meetings is communicated throughout the business through team briefings.

Levels of staff turnover and retention are monitored on a monthly basis and employee engagement surveys are undertaken every 18-24 months, the results of which are key inputs to the people-related elements of the Group's overall business strategy.

EMPLOYEE INVOLVEMENT

The Group's ability to deliver high class services is dependent on a talented, engaged workforce in all the locations from which it operates. To this end, it is focused on making the Group a place where people feel supported and empowered, can develop their skills and fulfil their personal objectives, and have a clear understanding of the business strategy.

The Group is committed to ensuring that it operates according to rigorous professional, ethical and legal standards. To support this, it has developed a series of policies that define what it stands for as an organisation and to bring employees together under a clear and common purpose.

Key to this are equal opportunities for all employees, clear and fair terms of employment, resources to enable continuous development and forums that involve all employees in the business.

DISABLED EMPLOYEES

ESP has an Equal Opportunities and Diversity Policy which applies to both current and prospective employees and clearly states that everyone deserves to be treated equally and to have the same opportunities to develop and grow within the Group. As a Group, it is committed to ensuring that all employees will be treated equally in relation to all aspects of employment, including recruitment, promotion, opportunities for training, pay & benefits.

Job descriptions are limited to those requirements that are necessary for the effective performance of the job. Candidates for employment are assessed objectively against the requirements for the job, taking account of any reasonable adjustments that may be required for candidates with a disability.

In the event that an employee becomes disabled, every effort is made to ensure employment with the Group continues and that reasonable adjustments and training are made wherever possible.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The Group acknowledges the vital importance of strong, collaborative relationships with our suppliers, customers, and other stakeholders in delivering critical IT services to the aviation and non- aviation sectors. The Group is committed to operating with the highest standards of integrity, safety, and compliance to support the complex and highly regulated environments in which it operates.

It collaborates closely with vendors, hardware providers, and partners who adhere to stringent industry standards, including safety, cybersecurity, and regulatory compliance.

ESP's clients depend on it for critical IT solutions that support their operations and services. It maintains ongoing engagement through dedicated account teams, feedback forums, and service level reviews to deliver tailored, secure, and resilient IT services that meet their evolving operational requirements and regulatory mandates.

Beyond suppliers and customers, it actively engages with industry bodies, and technology alliances to stay aligned with sector-specific best practices and emerging standards. Through transparent communication and partnerships across all stakeholder groups, ESP strives to deliver dependable IT solutions that enhance safety, efficiency, and innovation in the sectors we operate in.

STREAMLINED ENERGY AND CARBON REPORTING

Introduction

| ESP Global Holdings Limited (Registered number: 04460989) |

Report of the Directors

for the Year Ended 31 December 2025

Streamlined Energy and Carbon Reporting (SECR) was first introduced in 2019, as legislation to replace the Carbon Reduction (CRC) Scheme. SECR requires obligated companies to report their energy consumption and associated greenhouse gas emissions within their financial reporting for Companies House. Organisations will also need to report on any energy efficiency measures and state emissions with reference to an intensity metric. The requirements are similar to the requirements of the Mandatory Greenhouse Gas Reporting framework previously in place for quoted companies. However, there are changes to the reported information for quoted companies too.

Large Unquoted Companies and large LLPs are required to report on UK energy use (to include as a minimum: purchased electricity, gas and transport); associated GHG emissions; at least one intensity ratio with documentation; previous year's figures for energy use and GHG emissions; and the methodologies used in the calculating emission disclosures.

Objectives of this report

It has been identified that ESP Global Holdings Limited is a Large Unquoted company and is therefore required to disclose energy and carbon information in its accounts and reports, including:

- UK energy use (as a minimum gas, electricity and transport, including UK offshore area)

- Associated greenhouse gas emissions

- At least one intensity ratio

- Previous year’s figures for energy use and GHG emissions.

- Methodologies used in calculation of disclosures.

- Information about energy efficiency action taken in the organisation’s financial year.

The relevant report must state the annual quantity of emissions in tonnes of carbon dioxide equivalent (CO2e) resulting from the total UK energy use from electricity, gas and transport.

To ensure we achieve the transparency required we have commissioned a third-party, The Consultus International Group, to compile this report.

Consultus International have utilised all verifiable data that has been made available however in the rare occasions where this has not been possible we have estimated data by using approved approaches as recommended in the SECR Guidelines such as direct comparison, pro-rata extrapolation or benchmarking.

Company information

ESP Global Holdings Limited is a private limited company, incorporated in the UK. Registered address is 5 Acre Road, Reading, Berkshire, RG2 0SU.

Reporting period

1st January 2025 to 31st December 2025.

UK Energy & Carbon

Total emission scope summary

Emission Type |  | Total Volume (kWh) |  | Calculated Emissions (Tonnes of CO2e) |

Scope 1 (direct) |  | 635,187 |  | 150.75 |

Scope 2 (indirect) |  | 578,899 |  | 102.47 |

Scope 3 (indirect) |  | - |  | - |

Total |  | 1,214,086 |  | 253.21 |

Scope 1 emissions (direct)

Emissions from activities owned or controlled by the organisation that release emissions into the atmosphere. Examples of Scope 1 emissions include emissions from combustion in owned or controlled boilers, furnaces, vehicles; emissions from chemical production in owned or controlled process equipment.

Energy Type |  | Definition |  | Total Volume (kWh) |  | Calculated Emissions (Tonnes of CO2e) |

| ESP Global Holdings Limited (Registered number: 04460989) |

Report of the Directors

for the Year Ended 31 December 2025

Gas |  | Emissions from combustion of gas |  | 113,261 |  | 20.72 |

Transport |  | Emissions from combustion of fuel for transport purposes |  | 521,926 |  | 130.03 |

Total |  |  | 635,157 |  | 150.75 |

Scope 2 emissions (in-direct)

Emissions released into the atmosphere associated with the consumption of purchased electricity, heat, steam and cooling. These are indirect emissions that are a consequence of the organisation’s activities, but which occur at sources you do not own or control.

Energy Type |  | Definition |  | Total Volume (kWh) |  | Calculated Emissions (Tonnes of CO2e) |

Electricity |  | Emissions from purchased electricity |  | 578,899 |  | 102.47 |

Total |  |  | 578,899 |  | 102.47 |

Scope 3 emissions (in-direct)

Emissions that are a consequence of actions, which occur at sources which are not owned or controlled and which are not classed as Scope 2 emissions. Examples of Scope 3 emissions are business travel by means not owned or controlled by the organisation (e.g. grey fleet and rental cars).

Energy Type |  | Definition |  | Total Volume (kWh) |  | Calculated Emissions (Tonnes of CO2e) |

Employee owned cars |  | Emissions from business travel in rental cars or employee-owned vehicles where the company is responsible for purchasing the fuel (mandatory) |  | - |  | - |

Other business travel |  | Travel for business purposes in assets notowned or directly operated by a business |  | - |  | - |

Total |  |  | - |  | - |

How does it compare

Businesses must state the emissions and energy use from previous years reports. This allows businesses to track their emissions to encourage monitoring performance.

| Year 3 2025 |  | Year 2 2024 |  | Year 1 2023 |

Total Emissions (TCO2e) |  | 253 |  | 413 |  | 302 |

Total Energy (kWhs) |  | 1,214,086 |  | 1,812,623 |  | 1,382,909 |

Intensity Ratio |  | 7.58 |  | 12.22 |  | 8.35 |

Intensity metric

Intensity ratios compare emissions data with an appropriate business metric or financial indicator. The organisation has chosen to use Tonnes of CO2e per £million Revenue for its Intensity Ratio.

Intensity Measurement |  | £m Revenue |  | Intensity Ratio (tCO2e / £m Revenue) |

Tonnes CO2e per £m Sales Revenue |  | 33* |  | 7.58 |

*Note this amount includes revenue generated by UK registered entities only.

Energy efficiency action

An EV scheme was introduced in 2025 and lighting upgrades were undertaken at the Reading office during the same year.

| ESP Global Holdings Limited (Registered number: 04460989) |

Report of the Directors

for the Year Ended 31 December 2025

Quantification and reporting methodology

The Group has taken guidance from the UK Government Environmental Reporting Guidelines (March 2019), the GHG Reporting Protocol - Corporate Standard, and from the UK Government GHG Conversion Factors for Company Reporting document for calculating carbon emissions. Energy usage information (gas and electricity) has been obtained directly from our energy suppliers and half-hourly (HH) data, where applicable, for the HH supplies (there was no estimation profiling required). For supplies where there wasn't complete 12 month energy usage available, flat profile estimation techniques were used to complete the annual consumption. Gas consumption for the current reporting period has been estimated using a pro-rota verified 2023 data. Transport mileage data was obtained from expense claims submitted for our company cars and grey fleet. Company-owned hybrid vehicles were reported previously, however, no data is available for the current reporting period. CO2e emissions were calculated using the appropriate emission factors from the UK Government GHG conversion information.

Carbon footprint 2025

Activity |  |  | Energy (kWh) |  | Emissions (tCO2e) |

Scope 1 total |  |  | 635,187 |  | 150.75 |

| Natural gas (mains) |  | 113,261 |  | 20.72 |

| Transport |  | 521,926 |  | 130.03 |

Scope 2 (location based) total |  |  | 578,899 |  | 102.47 |

| Electricity (location based) |  | 578,899 |  | 102.47 |

| Electricity (transport) |  | - |  | - |

Scope 3 total |  |  | - |  | - |

| Business travel - employee owned vehicles |  | - |  | - |

| Business travel - other |  | - |  | - |

Total |  |  | 1,214,086 |  | 253.21 |

Intensity ratio (tCO2e) |  | per £m sales revenue |  |  | 7.58 |

Carbon footprint 2024

Activity |  |  | Energy (kWh) |  | Emissions (tCO2e) |

Scope 1 total |  |  | 1,194,424 |  | 284.71 |

| Natural gas (mains) |  | 119,813 |  | 21.91 |

| Transport |  | 1,074,611 |  | 262.8 |

Scope 2 (location based) total |  |  | 618,199 |  | 128.02 |

| Electricity (location based) |  | 604,385 |  | 125.14 |

| Electricity (transport) |  | 13,816 |  | 2.88 |

Scope 3 total |  |  | - |  | - |

| Business travel - employee owned vehicles |  | - |  | - |

| Business travel - other |  | - |  | - |

Total |  |  | 1,812,623 |  | 412.74 |

Intensity ratio (tCO2e) |  | per £m sales revenue |  |  | 12.22 |

| ESP Global Holdings Limited (Registered number: 04460989) |

Report of the Directors

for the Year Ended 31 December 2025

Summary

Year |  | £m Sales Revenue* |  | TCO2e |  | Intensity Ratio |

2025 |  | 33 |  | 253 |  | 7.58 |

2024 |  | 34 |  | 413 |  | 12.22 |

2023 |  | 36 |  | 302 |  | 8.35 |

*Note this amount includes revenue generated by UK registered entities only.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The Board of Directors agreed to retain Sumer Auditco Limited, as auditors for the year ending 31st December 2026.

ON BEHALF OF THE BOARD:

Dr M G W Harling - Director

27 July 2026

Report of the Independent Auditors to the Members of

ESP Global Holdings Limited

Opinion

We have audited the financial statements of ESP Global Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31 December 2025 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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

ESP Global Holdings Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company 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 eleven, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

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:

Based on our understanding of the group (and its subsidiaries) and industry, we identified that the principal risks of non-compliance with laws and regulations related to health and safety, employment law and company legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements of the group. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the audit engagement team included:

- |  | Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; |

- |  | Understanding of management's internal controls designed to prevent and detect irregularities, and fraud; |

- |  | Reviewing the group's legal costs to check for non-compliance with laws and regulations and fraud; |

- |  | Review of tax compliance; |

- |  | Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing of expenses; |

- |  | Testing transactions entered into outside of the normal course of the group's business; and |

- |  | Identifying and testing journal entries, in particular any journal entries with fraud characteristics such as journals round numbers. |

Report of the Independent Auditors to the Members of

ESP Global Holdings Limited

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

David Iain Black (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Statutory Auditor

Hermes House

Fire Fly Avenue

Swindon

Wiltshire

SN2 2GA

27 July 2026

| ESP Global Holdings Limited (Registered number: 04460989) |

Consolidated

Income Statement

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 39,418,656 |  | 36,931,347 |  |

Cost of sales | 29,049,478 |  | 27,010,561 |  |

GROSS PROFIT | 10,369,178 |  | 9,920,786 |  |

Administrative expenses | 9,386,639 |  | 9,117,535 |  |

OPERATING PROFIT | 5 | 982,539 |  | 803,251 |  |

Interest receivable and similar income | 282 |  | 5 |  |

982,821 |  | 803,256 |  |

Interest payable and similar expenses | 6 | 266,530 |  | 290,142 |  |

PROFIT BEFORE TAXATION | 716,291 |  | 513,114 |  |

Tax on profit | 7 | 199,349 |  | 146,037 |  |

PROFIT FOR THE FINANCIAL YEAR | 516,942 |  | 367,077 |  |

Profit attributable to:

Owners of the parent | 516,942 |  | 367,077 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Consolidated

Other Comprehensive Income

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 516,942 |  | 367,077 |  |

OTHER COMPREHENSIVE INCOME |

Foreign currency differences | (66,937 | ) | (50,302 | ) |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | (66,937 | ) | (50,302 | ) |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 450,005 |  | 316,775 |  |

Total comprehensive income attributable to:

Owners of the parent | 450,005 |  | 316,775 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Consolidated Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 10 | 386,370 |  | 313,373 |  |

Investments | 11 | - |  | - |  |

386,370 |  | 313,373 |  |

CURRENT ASSETS

Stocks | 12 | 23,550 |  | 35,086 |  |

Debtors | 13 | 12,627,206 |  | 11,424,784 |  |

Cash at bank and in hand | 1,006,989 |  | 2,389,649 |  |

13,657,745 |  | 13,849,519 |  |

CREDITORS

Amounts falling due within one year | 14 | 11,862,552 |  | 12,042,207 |  |

NET CURRENT ASSETS | 1,795,193 |  | 1,807,312 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,181,563 |  | 2,120,685 |  |

CREDITORS

Amounts falling due after more than one year | 15 | 58,034 |  | 197,161 |  |

NET ASSETS | 2,123,529 |  | 1,923,524 |  |

CAPITAL AND RESERVES

Called up share capital | 21 | 633,000 |  | 633,000 |  |

Retained earnings | 22 | 1,490,529 |  | 1,290,524 |  |

SHAREHOLDERS' FUNDS | 2,123,529 |  | 1,923,524 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2026 and were signed on its behalf by:

Dr M G W Harling - Director

| ESP Global Holdings Limited (Registered number: 04460989) |

Company Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 10 | - |  | - |  |

Investments | 11 | 1,406,965 |  | 1,406,965 |  |

1,406,965 |  | 1,406,965 |  |

CURRENT ASSETS

Debtors | 13 | 183,450 |  | 82,950 |  |

CREDITORS

Amounts falling due within one year | 14 | 957,465 |  | 856,965 |  |

NET CURRENT LIABILITIES | (774,015 | ) | (774,015 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 632,950 |  | 632,950 |  |

CAPITAL AND RESERVES

Called up share capital | 21 | 633,000 |  | 633,000 |  |

Retained earnings | 22 | (50 | ) | (50 | ) |

SHAREHOLDERS' FUNDS | 632,950 |  | 632,950 |  |

Company's profit for the financial year | 250,000 |  | - |  |

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2026 and were signed on its behalf by:

Dr M G W Harling - Director

| ESP Global Holdings Limited (Registered number: 04460989) |

Consolidated 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 | 633,000 |  | 973,749 |  | 1,606,749 |  |

Changes in equity

Total comprehensive income | - |  | 316,775 |  | 316,775 |  |

Balance at 31 December 2024 | 633,000 |  | 1,290,524 |  | 1,923,524 |  |

Changes in equity

Dividends | - |  | (250,000 | ) | (250,000 | ) |

Total comprehensive income | - |  | 450,005 |  | 450,005 |  |

Balance at 31 December 2025 | 633,000 |  | 1,490,529 |  | 2,123,529 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Company 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 | 633,000 |  | (50 | ) | 632,950 |  |

Changes in equity

Balance at 31 December 2024 | 633,000 |  | (50 | ) | 632,950 |  |

Changes in equity

Dividends | - |  | (250,000 | ) | (250,000 | ) |

Total comprehensive income | - |  | 250,000 |  | 250,000 |  |

Balance at 31 December 2025 | 633,000 |  | (50 | ) | 632,950 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Consolidated Cash Flow Statement

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (198,710 | ) | 795,858 |  |

Interest paid | (249,307 | ) | (283,765 | ) |

Interest element of hire purchase payments paid | (17,223 | ) | (6,377 | ) |

Tax paid | (294,107 | ) | (224,396 | ) |

Net cash from operating activities | (759,347 | ) | 281,320 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (198,682 | ) | (98,111 | ) |

Sale of tangible fixed assets | - |  | 7,957 |  |

Interest received | 282 |  | 5 |  |

Net cash from investing activities | (198,400 | ) | (90,149 | ) |

Cash flows from financing activities

New loans in year | 464,933 |  | 470,739 |  |

Loan repayments in year | (702,622 | ) | (728,239 | ) |

Capital repayments in year | (29,482 | ) | (21,624 | ) |

Amount introduced by directors | 250,000 |  | - |  |

Amount withdrawn by directors | (157,742 | ) | (58,362 | ) |

Equity dividends paid | (250,000 | ) | - |  |

Net cash from financing activities | (424,913 | ) | (337,486 | ) |

Decrease in cash and cash equivalents | (1,382,660 | ) | (146,315 | ) |

Cash and cash equivalents at beginning of year | 2 | 2,389,649 |  | 2,535,964 |  |

Cash and cash equivalents at end of year | 2 | 1,006,989 |  | 2,389,649 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 December 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 716,291 |  | 513,114 |  |

| Depreciation charges | 186,529 |  | 256,604 |  |

| Profit on disposal of fixed assets | - |  | (7,957 | ) |

| Foreign exchange adjustments | (66,937 | ) | (50,301 | ) |

| Finance costs | 266,530 |  | 290,142 |  |

| Finance income | (282 | ) | (5 | ) |

1,102,131 |  | 1,001,597 |  |

| Decrease/(increase) in stocks | 11,536 |  | (361 | ) |

| Increase in trade and other debtors | (1,114,844 | ) | (783,446 | ) |

| (Decrease)/increase in trade and other creditors | (197,533 | ) | 578,068 |  |

| Cash generated from operations | (198,710 | ) | 795,858 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 December 2025

| 31.12.25 |  | 1.1.25

£ | £ |

| Cash and cash equivalents | 1,006,989 |  | 2,389,649 |  |

| Year ended 31 December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 2,389,649 |  | 2,535,964 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 December 2025

3. | ANALYSIS OF CHANGES IN NET FUNDS

| Other |

| non-cash |

| At 1.1.25 | Cash flow | changes | At 31.12.25

£ | £ | £ | £ |

| Net cash |

| Cash at bank

| and in hand | 2,389,649 |  | (1,382,660 | ) | 1,006,989 |  |

2,389,649 |  | (1,382,660 | ) | 1,006,989 |  |

| Debt

| Finance leases | (66,673 | ) | 29,482 |  | (60,847 | ) | (98,038 | ) |

| Debts falling due

| within 1 year | (327,500 | ) | 87,689 |  | - |  | (239,811 | ) |

| Debts falling due

| after 1 year | (150,000 | ) | 150,000 |  | - |  | - |  |

(544,173 | ) | 267,171 |  | (60,847 | ) | (337,849 | ) |

| Total | 1,845,476 |  | (1,115,489 | ) | (60,847 | ) | 669,140 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| ESP Global Holdings 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 General 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.

| Going concern

| The financial statements have been prepared on the going concern basis which assumes that the group and company will continue in operational existence for the foreseeable future. The directors have reviewed the working capital requirements of the group and the company for a year of at least 12 months from the anticipated date of signing the financial statements and are satisfied that the group and company will be able to meet its liabilities as they fall due.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The group 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 requirement of paragraph 33.7.

| The group has taken advantage of the following exemptions in its financial statements:

| - |  | From disclosing the company key management personnel compensation as key management personnel are deemed to be the directors of the company, therefore no additional disclosure is required. |  |

| Basis of consolidation

| The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

| The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

| In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 1 November 2014.

| Related party exemption

| 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.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Significant judgements and estimates

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

| Estimates and underlying assumptions are reviewed on an ongoing basis. Estimates are based on historical experience and other assumptions that are considered reasonable in the circumstances. The actual amount or values may vary in certain instances from the assumptions and estimates made. Changes will be recorded, with corresponding effect in profit or loss, when, and if, better information is obtained.

| There are no significant assumptions or estimation uncertainties.

| Turnover

| Turnover comprises revenue arising from the sale of goods and services. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

| Sale of goods

| Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

| - the company has transferred the significant risks and rewards of ownership to the buyer;

| - the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

| - the amount of turnover can be measured reliably;

| - it is probable that the company will receive the consideration due under the transaction; and

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Rendering of services

| Turnover from a contract to provide services is recognised in the year in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

| - the amount of turnover can be measured reliably;

| - it is probable that the company will receive the consideration due under the contract;

| - the stage of completion of the contract at the end of the reporting year can be measured reliably; and

| - the costs incurred and the costs to complete the contract can be measured reliably.

| Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Sales income includes turnover earned under a wide variety of contracts to provide computer support and maintenance services. Turnover is recognised as contract activity progresses to the extent that the company obtains the right to consideration in exchange for its performance under these contracts and so that for incomplete contracts it reflects the partial performance of the contractual obligations. It is measured at the fair value of the right to consideration, by reference to the value of work performed, based on amounts chargeable to customers, excluding VAT.

| Turnover earned but not billed to customers is included in trade debtors and amounts billed in advance of the revenue being recognised are included in deferred income.

| Sales of goods are recognised on transfer of title of the goods on dispatch.

| Interest income

| Interest income is recognised using the effective interest rate method.

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Short leasehold |  | - over period of lease |  |

| Plant and machinery |  | - 10% - 20% on straight line basis |  |

| Fixtures and fittings |  | - 20% on straight line basis |  |

| Motor vehicles |  | - 25% on straight line basis |  |

| Computer equipment |  | - 33% on straight line basis |  |

| Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

| Land is not depreciated. Depreciation on other assets is calculated, using the straight-line method, to allocate the depreciable amount to their residual values over their estimated useful lives.

| The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

| Subsequent additions and major components

| Subsequent costs, including major inspections, are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the group and the cost can be measured reliably.

| The carrying amount of any replaced component is derecognised. Major components are treated as separate assets where they have significantly different patterns of consumption of economic benefits and are depreciated separately over their useful lives.

| Repairs, maintenance and minor inspection costs are expensed as incurred.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to sell. Inventories are recognised as an expense in the period in which the related revenue is recognised.

| Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the inventory to its present location and condition.

| At the end of each reporting period inventories are assessed for impairment. If an item of inventory is impaired, the identified inventory is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

| Financial instruments

| The group has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

| Financial assets

| Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, 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.

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| 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 profit or loss.

| 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 profit or loss.

| 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) despite having retained some significant risks and rewards of ownership, 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 and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over the period of the facility to which it relates.

| Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables 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 for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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

| 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.

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated 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

| Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

| At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

| Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in Other Comprehensive Income as qualifying cash flow hedges.

| Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'Administrative expenses'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'other operating income'.

| The trading results of branch undertakings are translated into sterling at the average exchange rates for the year. The assets and liabilities of overseas branches, are translated at the exchange rates ruling at the year end. Exchange adjustments arising from the retranslation of opening net investments and from the translation of the profits or losses at average rates are recognised in ‘Other comprehensive income’.

| Hire purchase and leasing commitments

| At inception the group assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement.

| Finance leases

| Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases.

| Finance leases are capitalised at commencement of the lease as assets at the fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease. Where the implicit rate cannot be determined, the group’s incremental borrowing rate is used.

| Incremental direct costs, incurred in negotiating and arranging the lease, are included in the cost of the asset.

| Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of the capital repayments outstanding.

| Operating leases

| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

| Lease incentives

| Incentives received to enter into a finance lease reduce the fair value of the asset and are included in the calculation of present value of minimum lease payments.

| Incentives received to enter into an operating lease are credited to the profit and loss account, to reduce the lease expense, on a straight-line basis over the period of the lease.

| Operating leases should be expensed on a straight-line basis unless another systematic basis is representative of the time pattern of the user’s benefit or the payments are structured to increase in line with expected inflation to compensate for the lessor’s expected cost inflationary cost increases. This similarly applies to related lease incentives.

| Pension costs and other post-retirement benefits

| The group operates a number of country-specific defined contribution plans for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations. The contributions are recognised as an expense when they are due.

| Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the group in independently administered funds.

| Finance costs

| Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

| Dividends

| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

| Forward contracts

| Forward contracts are initially recognised at fair value on the date a forward contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of forward contracts are recognised in profit or loss in finance costs or finance income as appropriate.

| Trade debtors

| Short term trade debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

| Cash and cash equivalents

| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

| Share capital

| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

| Trade creditors

| Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

| Provisions for liabilities

| Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

| Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

| When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

3. | TURNOVER

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

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

| 2025 |  | 2024

£ | £ |

| Sale of goods | 740,640 |  | 1,311,274 |  |

| Rendering of services | 38,678,016 |  | 35,620,073 |  |

39,418,656 |  | 36,931,347 |  |

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

| 2025 |  | 2024

£ | £ |

| United Kingdom | 18,836,727 |  | 18,459,078 |  |

| Rest of the world | 20,581,929 |  | 18,472,269 |  |

39,418,656 |  | 36,931,347 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 17,082,390 |  | 17,298,880 |  |

| Social security costs | 2,327,121 |  | 2,241,206 |  |

| Other pension costs | 709,553 |  | 709,338 |  |

20,119,064 |  | 20,249,424 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

4. | EMPLOYEES AND DIRECTORS - continued

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

| 2025 |  | 2024

| Directors | 2 |  | 2 |  |

| Senior management | 8 |  | 8 |  |

| Administration | 56 |  | 35 |  |

| Contract support engineers | 476 |  | 495 |  |

542 |  | 540 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 281,312 |  | 283,948 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 204,279 |  | 208,948 |  |

5. | OPERATING PROFIT

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

| 2025 |  | 2024

£ | £ |

| Other operating leases | 414,018 |  | 403,878 |  |

| Depreciation - owned assets | 151,552 |  | 235,083 |  |

| Depreciation - assets on hire purchase contracts | 34,979 |  | 21,522 |  |

| Profit on disposal of fixed assets | - |  | (7,957 | ) |

| Auditors' remuneration | 61,499 |  | 55,303 |  |

| Foreign exchange differences | 75,732 |  | 55,824 |  |

| Maintenance costs | 8,112,621 |  | 7,214,995 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest | 3,562 |  | 3,612 |  |

| Bank loan interest | 38,811 |  | 74,264 |  |

| Invoice discounting charges | 206,934 |  | 205,889 |  |

| Hire purchase | 17,223 |  | 6,377 |  |

266,530 |  | 290,142 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

7. | 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 | 314,616 |  | 142,360 |  |

| Deferred tax | (115,267 | ) | 3,677 |  |

| Tax on profit | 199,349 |  | 146,037 |  |

| Reconciliation of total tax charge 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:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 716,291 |  | 513,114 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 179,073 |  | 128,279 |  |

| Effects of:

| Expenses not deductible for tax purposes | 10,981 |  | 12,660 |  |

| Income not taxable for tax purposes | (21 | ) | (127 | ) |

| Depreciation in excess of capital allowances | - |  | 919 |  |

| Adjustments to tax charge in respect of previous periods | 2,975 |  | 5,804 |  |

| Foreign tax credits | 22,401 |  | 3,921 |  |

| Other permanent differences | (5,174 | ) | (2,140 | ) |

| Impact of overseas tax rates and foreign tax differences | (10,886 | ) | (3,279 | ) |

| Total tax charge | 199,349 |  | 146,037 |  |

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Foreign currency differences | (66,937 | ) | - |  | (66,937 | ) |

| 2024 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Foreign currency differences | (50,302 | ) | - |  | (50,302 | ) |

8. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

9. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| 'A' shares shares of 1 each

| Final | 250,000 |  | - |  |

10. | TANGIBLE FIXED ASSETS

| Group

| Fixtures

| Short |  | Plant and |  | and

| leasehold |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 January 2025 | 1,088,505 |  | 214,340 |  | 229,412 |  |

| Additions | 12,317 |  | - |  | 1,959 |  |

| At 31 December 2025 | 1,100,822 |  | 214,340 |  | 231,371 |  |

| DEPRECIATION

| At 1 January 2025 | 1,031,045 |  | 194,137 |  | 166,866 |  |

| Charge for year | 14,092 |  | 3,865 |  | 17,785 |  |

| Reclassification/transfer | - |  | - |  | (13,385 | ) |

| At 31 December 2025 | 1,045,137 |  | 198,002 |  | 171,266 |  |

| NET BOOK VALUE

| At 31 December 2025 | 55,685 |  | 16,338 |  | 60,105 |  |

| At 31 December 2024 | 57,460 |  | 20,203 |  | 62,546 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 203,413 |  | 1,000,851 |  | 2,736,521 |  |

| Additions | - |  | 245,253 |  | 259,529 |  |

| At 31 December 2025 | 203,413 |  | 1,246,104 |  | 2,996,050 |  |

| DEPRECIATION

| At 1 January 2025 | 138,084 |  | 893,017 |  | 2,423,149 |  |

| Charge for year | 23,810 |  | 126,979 |  | 186,531 |  |

| Reclassification/transfer | - |  | 13,385 |  | - |  |

| At 31 December 2025 | 161,894 |  | 1,033,381 |  | 2,609,680 |  |

| NET BOOK VALUE

| At 31 December 2025 | 41,519 |  | 212,723 |  | 386,370 |  |

| At 31 December 2024 | 65,329 |  | 107,834 |  | 313,372 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

10. | TANGIBLE FIXED ASSETS - continued

| Group

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

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 203,413 |  | - |  | 203,413 |  |

| Additions | - |  | 60,847 |  | 60,847 |  |

| Transfer to ownership | (114,761 | ) | - |  | (114,761 | ) |

| At 31 December 2025 | 88,652 |  | 60,847 |  | 149,499 |  |

| DEPRECIATION

| At 1 January 2025 | 138,084 |  | - |  | 138,084 |  |

| Charge for year | 22,876 |  | 12,103 |  | 34,979 |  |

| Transfer to ownership | (113,827 | ) | - |  | (113,827 | ) |

| At 31 December 2025 | 47,133 |  | 12,103 |  | 59,236 |  |

| NET BOOK VALUE

| At 31 December 2025 | 41,519 |  | 48,744 |  | 90,263 |  |

| At 31 December 2024 | 65,329 |  | - |  | 65,329 |  |

11. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertaking

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 1,406,965 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,406,965 |  |

| At 31 December 2024 | 1,406,965 |  |

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

| Subsidiaries

| ESP Global Services Limited

| Registered office: 5 Acre Road, Reading, Berkshire, R2 0SU

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

11. | FIXED ASSET INVESTMENTS - continued

| ESP Field Services, S.L.

| Registered office: Av. Diagonal, 458, Planta 8a, 08006 Barcelona, Spain

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Field Services S.R.O.

| Registered office: Pribinova 10 811 09 Bratislava Slovac Republic

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Field Services S.A. de C.V.*

| Registered office: Av. Periferico Sur, 4338, Col. Jardines del Pedregal, Coyoacan, Mexico

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 99.99 |

| ESP Global Services Limited*

| Registered office: Room 1101, 11th Floor, 141 Des Voeux Road Central, Hong Kong

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Global Services Inc.*

| Registered office: 1209 Orange Street, Wilmington, New Castle County, Delaware 19801

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Global Services B.V.*

| Registered office: Siriusdreef 17, 27, 2132WT Hoofddorp

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Global Services S.A.S.*

| Registered office: Calle 102A, No. 47 A-09, Bogota, D.C.,Colombia

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Global Services U.G.*

| Registered office: Steuerberatung, Karl-Hohmann-Str.1A.40599 Dusseldorf

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

11. | FIXED ASSET INVESTMENTS - continued

| ESP Global Services Limited*

| Registered office: 97 Uriah Butler Highway, Charlieville, Chaguanas, Trinidad

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Global Services India Pvt Limited*

| Registered office: Office 106 May Fair Towers Sn 28, Mumbai Road, Pune, MH

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 99.99 |

| ESP Global Services Limited*

| Registered office: Wildeboer Dellelce Place, 365 Bay Street, Toronto, ON, M5H 2V1

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Global Services S.R.O.*

| Registered office: V parku 2316/12, Chodov, 148 00 Prague 4, Czech Republic

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| ESP Field Services S.R.L.*

| Registered office: 9-9A B-dul Dimitrie PompeiU, Iride Business Park, Building 14, GF, Office ResCo-work06, Bucharest, Romania

| Nature of business: Repair of computers and peripheral equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| * Denotes investments held by ESP Global Services Limited

12. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Stocks | 23,550 |  | 35,086 |  |

| Stock recognised in cost of sales during the year as an expense was £659,086 (2024: £1,206,530).

| Stocks are stated after provisions for impairment of £37,474 (2024: £35,105).

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

13. | DEBTORS

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Amounts falling due within one year: |

| Trade debtors | 9,131,735 |  | 7,828,102 |  | - |  | - |  |

| Amounts owed by group undertakings | - |  | - |  | 101,450 |  | 950 |  |

| Other debtors | 378,333 |  | 379,703 |  | - |  | - |  |

| Tax | 55,522 |  | 83,493 |  | - |  | - |  |

| Deferred tax asset | 641,495 |  | 525,946 |  | - |  | - |  |

| Prepayments and accrued income | 2,338,121 |  | 2,525,540 |  | - |  | - |  |

12,545,206 |  | 11,342,784 |  | 101,450 |  | 950 |  |

| Amounts falling due after more than one | year: |

| Other debtors | 82,000 |  | 82,000 |  | 82,000 |  | 82,000 |  |

| Aggregate amounts | 12,627,206 |  | 11,424,784 |  | 183,450 |  | 82,950 |  |

| Deferred tax asset

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Deferred tax | 641,495 |  | 525,946 |  | - |  | - |  |

| Trade debtors are stated after provisions for bad debts of £38,293 (2024: £58,734).

| Included within trade debtors is an amount of £5,318,568 (2024: £5,627,566) which is subject to a invoice discounting facility.

| Amounts owed by group undertakings are unsecured, interest-free and repayable on demand.

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 16) | 239,811 |  | 327,500 |  | - |  | - |  |

| Hire purchase contracts (see note 17) | 40,004 |  | 19,512 |  | - |  | - |  |

| Trade creditors | 2,784,595 |  | 2,603,375 |  | - |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 756,965 |  | 756,965 |  |

| Tax | 70,875 |  | 78,055 |  | - |  | - |  |

| Social security and other taxes | 484,418 |  | 325,122 |  | - |  | - |  |

| VAT | 338,872 |  | 254,592 |  | - |  | - |  |

| Other creditors | 1,306,848 |  | 852,745 |  | - |  | - |  |

| Invoice discounting | 5,318,568 |  | 5,627,566 |  | - |  | - |  |

| Directors' current accounts | 136,843 |  | 44,585 |  | 200,500 |  | 100,000 |  |

| Accruals and deferred income | 1,141,718 |  | 1,909,155 |  | - |  | - |  |

11,862,552 |  | 12,042,207 |  | 957,465 |  | 856,965 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

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

| Unlimited corporate multi-party guarantees have been provided by all companies within the Group. Amounts owed to group undertakings and directors are unsecured, interest free and repayable on demand.

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

| Group |

2025 | 2024 |

£ | £ |

| Bank loans (see note 16) | - |  | 150,000 |  |

| Hire purchase contracts (see note 17) | 58,034 |  | 47,161 |  |

58,034 |  | 197,161 |  |

16. | LOANS

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

| Group |

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or | on demand: |

| Bank loans | 239,811 |  | 327,500 |  |

| Amounts falling due between one and | two years: |

| Bank loans - 1-2 years | - |  | 150,000 |  |

| During the year, the company made repayments of £327,500 (2024: £385,000) in respect of existing facilities, and entered further unsecured loan agreements of £464,933 repayable by 2026, of which £375,122 has been repaid in the current year, and of which interest is charged at an average of 6.1% (2024: 5.8%).

17. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 40,004 |  | 19,512 |  |

| Between one and five years | 58,034 |  | 47,161 |  |

98,038 |  | 66,673 |  |

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

17. | LEASING AGREEMENTS - continued

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 551,017 |  | 551,454 |  |

| Between one and five years | 922,129 |  | 1,172,053 |  |

| In more than five years | - |  | 103,430 |  |

1,473,146 |  | 1,826,937 |  |

| On the 7 June 2020 the group entered into a lease for the company’s registered office situated on 5 Acre Road, Reading, Berkshire, RG2 OSU. The lease period is ten years ending on the 6 June 2030 with lease instalment for the year of £203,469. The lease included an initial 12 month rent free period.

18. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |

2025 | 2024 |

£ | £ |

| Bank loans | 239,811 |  | 477,500 |  |

| Hire purchase contracts | 98,038 |  | 66,673 |  |

| Invoice discounting | 5,318,568 |  | 5,627,566 |  |

5,656,417 |  | 6,171,739 |  |

| The invoice discounting facility and other bank borrowings are secured by an all assets debenture giving a fixed and floating charge on all property and assets, present and future, including freehold and leasehold land and buildings and attached fixtures and fittings, plant and machinery, goodwill, uncalled share capital, stocks and shares, intellectual property, the benefit of any hedging arrangements and all debts which fail to vest to the lender under the debt purchase facility.

| The net obligations under hire purchase contracts are secured on the fixed assets to which they relate.

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

19. | FINANCIAL INSTRUMENTS

| The group has the following financial instruments:

|  | 2025 |  |  | 2024 |  |

|  | £ |  |  | £ |  |

| Financial assets |  |

| measured at amortised cost: |  |

| - Cash at bank and at hand |  |  | 1,006,989 |  |  | 2,389,649 |  |

| - Trade and other debtors and accrued income |  |  | 11,447,816 |  |  | 10,279,664 |  |

|  | 12,454,805 |  |  | 12,669,313 |  |

| Financial liabilities |  |

| measured at amortised cost: |  |

| - Bank and other loans |  |  | (239,811 | ) |  | (477,500 | ) |

| - Trade and other creditors and accruals |  |  | (10,695,826 | ) |  | (10,941,381 | ) |

|  | (10,935,637 | ) |  | (11,418,881 | ) |

| Financial assets that are debt instruments measured at amortised cost comprise cash, trade and other receivables, accrued income and amounts owed by group undertakings.

| Financial liabilities that are debt instruments measured at amortised cost comprise bank overdrafts and loans, trade and other payables, invoice discounting liabilities, amounts owed to group undertakings, obligations under finance lease and hire purchase contracts, and accruals.

20. | DEFERRED TAX

| Group

£ |

| Balance at 1 January 2025 | (525,946 | ) |

| Credit to Income Statement during year | (115,549 | ) |

| Balance at 31 December 2025 | (641,495 | ) |

21. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 551,000 | 'A' shares | 1 | 551,000 |  | 551,000 |  |

| 64,000 | 'VN' shares | 1 | 64,000 |  | 72,000 |  |

| 18,000 | 'Deferred' shares | 1 | 18,000 |  | 10,000 |  |

633,000 |  | 633,000 |  |

| The 'A' shares each carry one voting right and have equal rights to dividends and capital distributions.

| The 'VN' shares have no voting rights, each share has rights in the Company with respect to dividends and distributions.

| The 'Deferred' shares have no voting rights, no rights to dividends and no rights to assets more than £1 as a class.

| ESP Global Holdings Limited (Registered number: 04460989) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

22. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1 January 2025 | 1,290,524 |  |

| Profit for the year | 516,942 |  |

| Dividends | (250,000 | ) |

| Currency translation

| differences | (66,937 | ) |

| At 31 December 2025 | 1,490,529 |  |

| Company

| Retained

| earnings

£ |

| At 1 January 2025 | (50 | ) |

| Profit for the year | 250,000 |  |

| Dividends | (250,000 | ) |

| At 31 December 2025 | (50 | ) |

23. | PENSION COMMITMENTS

| The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £724,767 (2024: £724,551). Contributions totalling £180,833 (2024: £90,697) were payable to the fund at the reporting date.

24. | ULTIMATE CONTROLLING PARTY

| The controlling party is Dr M G W Harling.