The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Cordia UK (Lampworks) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22a Great Hampton Street, Birmingham, England, B18 6AA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Notwithstanding the loss for the financial year ended 31 December 2025, the company has positive net assets at the year end. The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.

The directors have assessed the ability of the company to continue as a going concern for a period of 12 months from the date of approval of these financial statements and this assessment indicates that the company will have sufficient funds, through funding from its indirect parent company, Cordia International SE to meet its liabilities as they fall due for that period.

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

At the year end, £3,716,087 of interest is included in work in progress.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Inventories are made up of land, options over land and associated planning and development costs. Inventories are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

Where it is determined that the completion of a development project is no longer probable, all previously incurred pre-development costs would be immediately expensed.

At each financial year end, the inventories are assessed for impairment. If inventories are impaired, the carrying amount is reduced to its net realisable value, calculated as its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss account.

Options over land and professional costs incurred in connection with land development opportunities are included within inventory and are subject to impairment reviews at each balance sheet date.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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

Critical judgements

The following judgements have had the most significant effect on amounts recognised in the financial statements:

Stocks/inventories of pre-development work in progress

The company’s principal judgement relates to the carrying value of its land, options over land and associated professional and planning fees held for development. The directors continue to review these sites and planning risks associated.

Significant judgement is applied when evaluating both the feasibility and profitability of long term development projects ongoing at the year end and when reviewing the recoverability of development and pre-development costs included as stock of work in progress.

Where it is determined that the completion of a development project is no longer probable, all previously incurred pre-development costs would be immediately expensed. Where it is determined that the completion of a development project is probable, but the future selling price on the development project is less than the current net book value of the relating stock of work in progress, an impairment provision is made.

The company’s activities involve it in a number of high value property and construction related contracts which, from time to time, result in commercial disputes, often in respect of valuations or project specifications. Most of these are amicably resolved in line with normal commercial practice. The directors exercise judgement in assessing the likely outcome of disputes and whether a provision is required within the financial statements.

The average monthly number of persons (including directors) employed by the company during the year was:

1 Ordinary shares of £1 were issued at a premium of £799,999 during the year.

Cordia UK Holdings Limited is the parent company of the smallest group of which Cordia UK (Lampworks) Limited is a member, that prepares consolidated accounts. The registered office of Cordia UK Holdings is 22a Great Hampton Street, Birmingham, England, B18 6AA.

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.

Ultimate parent company

FR Group B.V. is regarded by the directors as being the ultimate parent company.

Ultimate controlling party

The ultimate controlling party is Mr G A Futo (as the major shareholder) together with his parents, by virtue of their controlling interest in the ultimate parent company.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.