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REGISTERED NUMBER: 05112041 (England and Wales)

| Audited Financial Statements |

| for the Year Ended 31 March 2026 |

| for |

| MRRT Ltd |

| MRRT Ltd (Registered number: 05112041) |

Contents of the Financial Statements

for the Year Ended 31 March 2026

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| MRRT Ltd |

Company Information

for the Year Ended 31 March 2026

| DIRECTORS: | T Horton

| N J Venning (Chair)

| S W Walker (Chief Executive)

| SECRETARY: | Y Irfat

| REGISTERED OFFICE: | ICentrum

| 6, Holt Street

| Innovation Birmingham Campus

| Birmingham

| West Midlands

| B7 4BP

| REGISTERED NUMBER: | 05112041 (England and Wales)

| AUDITORS: | Sumer Auditco Limited

| Chartered Accountants

| Leofric House

| 18 B Binley Road

| Coventry

| West Midlands

| CV3 1JN

| MRRT Ltd (Registered number: 05112041) |

Balance Sheet

31 March 2026

| 31.3.26 |  | 31.3.25

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 5 | 54,402 |  | 149,807 |  |

Cash at bank | 1,163,264 |  | 1,045,661 |  |

1,217,666 |  | 1,195,468 |  |

CREDITORS

Amounts falling due within one year | 6 | 77,553 |  | 38,783 |  |

NET CURRENT ASSETS | 1,140,113 |  | 1,156,685 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,140,113 |  | 1,156,685 |  |

RESERVES

Other reserves | 7 | 1,149,947 |  | 1,173,182 |  |

Income and expenditure account | 7 | (9,834 | ) | (16,497 | ) |

1,140,113 |  | 1,156,685 |  |

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2026 and were signed on its behalf by:

N J Venning (Chair) - Director

S W Walker (Chief Executive) - Director

| MRRT Ltd (Registered number: 05112041) |

Notes to the Financial Statements

for the Year Ended 31 March 2026

1. | STATUTORY INFORMATION

| MRRT Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Critical accounting judgements and key sources of estimation uncertainty

| Estimates and judgements are continually evaluated and are based on historical evidence and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Turnover

| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover 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.

| Turnover comprises revenue recognised in respect of lending services during the year, being arrangement fees and consultancy, utilisation of capital grants, and loan interest receivable.

| Tangible fixed assets

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

| Fixtures and fittings | - | 25% on cost

| MRRT Ltd (Registered number: 05112041) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Basic financial instruments

| Basic financial instruments, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. | EMPLOYEES AND DIRECTORS

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

| MRRT Ltd (Registered number: 05112041) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

4. | TANGIBLE FIXED ASSETS

| Fixtures

| and

| fittings

£ |

| COST

| At 1 April 2025 | 687 |  |

| Disposals | (687 | ) |

| At 31 March 2026 | - |  |

| DEPRECIATION

| At 1 April 2025 | 687 |  |

| Eliminated on disposal | (687 | ) |

| At 31 March 2026 | - |  |

| NET BOOK VALUE

| At 31 March 2026 | - |  |

| At 31 March 2025 | - |  |

5. | DEBTORS

| 31.3.26 |  | 31.3.25

£ | £ |

| Amounts falling due within one year:

| Loans outstanding | 30,022 |  | 61,582 |  |

| Prepayments and accrued income | 1,886 |  | 2,852 |  |

31,908 |  | 64,434 |  |

| Amounts falling due after more than one year:

| Loans outstanding | 22,494 |  | 85,373 |  |

| Aggregate amounts | 54,402 |  | 149,807 |  |

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Amounts owed to group undertakings | 71,928 |  | 34,809 |  |

| Other creditors | 1,953 |  | 902 |  |

| Accruals and deferred income | 3,672 |  | 3,072 |  |

77,553 |  | 38,783 |  |

| MRRT Ltd (Registered number: 05112041) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

7. | RESERVES

| Income |

| and |

| expenditure |  | Other |

| account |  | reserves |  | Totals

£ | £ | £ |

| At 1 April 2025 | (16,497 | ) | 1,173,182 |  | 1,156,685 |  |

| Surplus for the year | 6,663 |  | 6,663 |  |

| Movement in provisions | - |  | (23,235 | ) | (23,235 | ) |

| At 31 March 2026 | (9,834 | ) | 1,149,947 |  | 1,140,113 |  |

| Other reserves represents amounts received in the form of capital grants from which bad and doubtful debts are deducted. The balance as at 31 March 2026 consists of the following reserves balances:

|  | 2026 |  |  | 2025 |  |

| £ |  |  | £ |  |

| Phoenix Fund |  | 49,455 |  |  | 49,430 |  |

| ASLP |  | 232,238 |  |  | 285,295 |  |

| ERDF and Single Budget |  | 522,956 |  |  | 496,091 |  |

| Worcester City Council |  | 93,366 |  |  | 90,434 |  |

| Regional Growth Fund |  | 239,769 |  |  | 239,769 |  |

| Hertfordshire Council Fund |  | 12,163 |  |  | 12,163 |  |

|  | 1,149,947 |  |  | 1,173,182 |  |

8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| C A Christou FCCA MAE (Senior Statutory Auditor)

| for and on behalf of Sumer Auditco Limited

9. | RELATED PARTY DISCLOSURES

| 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.

10. | ULTIMATE CONTROLLING PARTY

| During the year, the controlling interest was held by ART SHARE (Social Help Association for Reinvesting in Enterprise) Limited, a Community Benefit Society (Society No: 28537R).

| The registered office of ART SHARE (Social Help Association for Reinvesting in Enterprise) Limited is Icentrum, Innovation Birmingham, 6 Holt Street, Birmingham, B7 4BP.

11. | LIMITED BY GUARANTEE

| The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the Company in the event of liquidation.