IRIS Accounts Production v26.1.10.61 10793507 Board of Directors 31.12.25 1.1.25 31.12.25 31.12.25 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. true true true false true true false false false false false true false false false true false Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 10793507 2024-12-31 10793507 2025-12-31 10793507 2025-01-01 2025-12-31 10793507 2023-12-31 10793507 2024-01-01 2024-12-31 10793507 2024-12-31 10793507 ns15:EnglandWales 2025-01-01 2025-12-31 10793507 ns14:PoundSterling 2025-01-01 2025-12-31 10793507 ns10:Director1 2025-01-01 2025-12-31 10793507 ns10:Consolidated 2025-12-31 10793507 ns10:ConsolidatedGroupCompanyAccounts 2025-01-01 2025-12-31 10793507 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 10793507 ns10:Consolidated ns10:MediumEntities 2025-01-01 2025-12-31 10793507 ns10:Consolidated ns10:Audited 2025-01-01 2025-12-31 10793507 ns10:SmallCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 10793507 ns10:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 10793507 ns10:Consolidated 2025-01-01 2025-12-31 10793507 ns10:Consolidated ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 10793507 ns10:Medium-sizedCompaniesRegimeForAccounts ns10:Consolidated 2025-01-01 2025-12-31 10793507 ns10:FullAccounts 2025-01-01 2025-12-31 10793507 ns5:Subsidiary1 2025-01-01 2025-12-31 10793507 ns5:Subsidiary2 2025-01-01 2025-12-31 10793507 ns5:Subsidiary3 2025-01-01 2025-12-31 10793507 ns5:Subsidiary6 2025-01-01 2025-12-31 10793507 ns5:Subsidiary7 2025-01-01 2025-12-31 10793507 ns5:Subsidiary8 2025-01-01 2025-12-31 10793507 1 2025-01-01 2025-12-31 10793507 ns10:OrdinaryShareClass3 2025-01-01 2025-12-31 10793507 ns10:Director2 2025-01-01 2025-12-31 10793507 ns10:Director3 2025-01-01 2025-12-31 10793507 ns10:RegisteredOffice 2025-01-01 2025-12-31 10793507 ns10:Consolidated 2024-01-01 2024-12-31 10793507 ns5:CurrentFinancialInstruments 2025-12-31 10793507 ns5:CurrentFinancialInstruments 2024-12-31 10793507 ns5:Non-currentFinancialInstruments 2025-12-31 10793507 ns5:Non-currentFinancialInstruments 2024-12-31 10793507 ns5:ShareCapital 2025-12-31 10793507 ns5:ShareCapital 2024-12-31 10793507 ns5:RevaluationReserve 2025-12-31 10793507 ns5:RevaluationReserve 2024-12-31 10793507 ns5:CapitalRedemptionReserve 2025-12-31 10793507 ns5:CapitalRedemptionReserve 2024-12-31 10793507 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 10793507 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 10793507 ns5:ShareCapital 2023-12-31 10793507 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 10793507 ns5:RevaluationReserve 2023-12-31 10793507 ns5:CapitalRedemptionReserve 2023-12-31 10793507 ns5:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 10793507 ns5:RevaluationReserve 2024-01-01 2024-12-31 10793507 ns5:CapitalRedemptionReserve 2024-01-01 2024-12-31 10793507 ns5:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 10793507 ns5:RevaluationReserve 2025-01-01 2025-12-31 10793507 ns5:CapitalRedemptionReserve 2025-01-01 2025-12-31 10793507 ns5:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 10793507 ns5:PatentsTrademarksLicencesConcessionsSimilar 2025-01-01 2025-12-31 10793507 ns5:OwnedOrFreeholdAssets ns5:LandBuildings 2025-01-01 2025-12-31 10793507 ns5:LeaseholdImprovements 2025-01-01 2025-12-31 10793507 ns5:PlantMachinery 2025-01-01 2025-12-31 10793507 ns5:FurnitureFittings 2025-01-01 2025-12-31 10793507 ns5:MotorVehicles 2025-01-01 2025-12-31 10793507 ns5:ComputerEquipment 2025-01-01 2025-12-31 10793507 ns5:LandBuildings 2024-12-31 10793507 ns5:FurnitureFittings 2024-12-31 10793507 ns5:MotorVehicles 2024-12-31 10793507 ns5:LandBuildings 2025-01-01 2025-12-31 10793507 ns5:LandBuildings 2025-12-31 10793507 ns5:FurnitureFittings 2025-12-31 10793507 ns5:MotorVehicles 2025-12-31 10793507 ns5:LandBuildings 2024-12-31 10793507 ns5:FurnitureFittings 2024-12-31 10793507 ns5:MotorVehicles 2024-12-31 10793507 ns5:CostValuation 2024-12-31 10793507 ns5:AdditionsToInvestments 2025-12-31 10793507 ns5:CostValuation 2025-12-31 10793507 1 ns5:Subsidiary1 2025-01-01 2025-12-31 10793507 ns5:Subsidiary1 2025-12-31 10793507 ns5:Subsidiary1 2024-12-31 10793507 ns5:Subsidiary1 2024-01-01 2024-12-31 10793507 ns5:Subsidiary2 3 2025-01-01 2025-12-31 10793507 ns5:Subsidiary2 2025-12-31 10793507 ns5:Subsidiary2 2024-12-31 10793507 ns5:Subsidiary2 2024-01-01 2024-12-31 10793507 5 ns5:Subsidiary3 2025-01-01 2025-12-31 10793507 ns5:Subsidiary3 2025-12-31 10793507 ns5:Subsidiary3 2024-12-31 10793507 ns5:Subsidiary6 11 2025-01-01 2025-12-31 10793507 ns5:Subsidiary6 2025-12-31 10793507 ns5:Subsidiary6 2024-12-31 10793507 ns5:Subsidiary6 2024-01-01 2024-12-31 10793507 13 ns5:Subsidiary7 2025-01-01 2025-12-31 10793507 ns5:Subsidiary7 2025-12-31 10793507 ns5:Subsidiary7 2024-12-31 10793507 ns5:Subsidiary7 2024-01-01 2024-12-31 10793507 ns5:Subsidiary8 15 2025-01-01 2025-12-31 10793507 ns5:Subsidiary8 16 2025-01-01 2025-12-31 10793507 ns5:Subsidiary8 2025-12-31 10793507 ns5:Subsidiary8 2024-12-31 10793507 ns5:Subsidiary8 2024-01-01 2024-12-31 10793507 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 10793507 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 10793507 ns5:DeferredTaxation 2024-12-31 10793507 ns5:DeferredTaxation 2025-12-31 10793507 ns10:OrdinaryShareClass3 2025-12-31 10793507 ns5:RevaluationReserve 2024-12-31

REGISTERED NUMBER: 10793507 (England and Wales)

| Group Strategic Report, |

| Report of the Directors and |

| Consolidated Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Gladius Holdings Ltd |

| Gladius Holdings Ltd (Registered number: 10793507) |

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 | 3 |

| Report of the Independent Auditors | 5 |

| Consolidated Profit and loss account | 8 |

| Consolidated Other Comprehensive Income | 9 |

| Consolidated Balance Sheet | 10 |

| Company Balance Sheet | 11 |

| Consolidated Statement of Changes in Equity | 12 |

| Company Statement of Changes in Equity | 13 |

| Consolidated Cash Flow Statement | 14 |

| Notes to the Consolidated Cash Flow Statement | 15 |

| Notes to the Consolidated Financial Statements | 16 |

| Gladius Holdings Ltd |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | G N Abuaita

| T A Abuaita

| P G A Abuaita

| REGISTERED OFFICE: | Arden House

| 25 The Courtyard

| Gorsey Lane

| Coleshill

| West Midlands

| B46 1JA

| REGISTERED NUMBER: | 10793507 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Susanna D Ault FCA FCCA

| AUDITORS: | Tomkinson Teal (Lichfield) LLP

| Hanover Court

| 5 Queen Street

| Lichfield

| Staffordshire

| WS13 6QD

| Gladius Holdings Ltd (Registered number: 10793507) |

Group Strategic Report

for the Year Ended 31 December 2025

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

FAIR REVIEW OF THE BUSINESS

The results for the year and the financial position are shown in the annexed financial statements.

As an operator of a chain of 27 Costa Coffee sites, 2 Regus buildings and 1 Spaces building, I consider our key performance indicators to be turnover and gross profit. The year ended 31st December 2025 has seen an increase in turnover of 6.6%, this turnover increase is mainly driven by an increase in RRP and transaction growth. There has also been an increase in gross profit of 12.1%, again assisted by the increase in RRP and the continued positive performance of the Regus buildings.

As for many businesses we believe the trading environment that we operate in to be challenging.

PRINCIPAL RISKS AND UNCERTAINTIES

The group operates in a highly competitive market. High street consumer behaviour impacts the group's turnover and the variability of commodity process impact profitability.

The group is continually assessing all risks with an aim to mitigate any future threats these may have on the business, including the increases in utility costs.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be to subject to unforeseen future events outside our control, hence we are constantly assessing our plans in line with the current environment.

SECTION 172(1) STATEMENT

Section 172 of The Companies Act 2006 requires a director of a company to act in the way he or she considers, in good faith, would most likely promote the success of the company for the benefit of its members as a whole. In doing so a director of a company must have regard (amongst other matters) to:

a. The likely consequences of any decision in the long term;

b. The interests of the company's employees;

c. The need to foster the company's business relationships with suppliers, customers and others;

d. The impact of the company's operations on the community and the environment;

e. The desirability of the company maintaining a reputation for high standards of business conduct; and;

f. The need to act fairly as between members of the company.

The director believes he has acted in a way that he considers to be in good faith and to promote the success of the company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172 (1) (a-f) of the Companies Act).

GOVERNANCE

The group is committed to high standards of corporate governance. The group has a comprehensive range of policies and systems in place to ensure that the coffee shops and business are well-managed, with effective oversight and control.

ON BEHALF OF THE BOARD:

G N Abuaita - Director

30 June 2026

| Gladius Holdings Ltd (Registered number: 10793507) |

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

The principal activity of the group in the year under review was that of retail sale of beverages in specialised stores, letting of flexible office space and exploring other business opportunities.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTORS

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

G N Abuaita

T A Abuaita

P G A Abuaita

DISABLED PERSONS

The group employed an average of 263 people in the year ended 31 December 2025. Our policies and procedures allow us to

1) Full and fair consideration of applicants for employment of disabled persons, having regards to their aptitudes and abilities;

2) Continuing employment and training of person who become disabled; and;

3) Training, career development and promotion of disabled persons employed by the company.

The group also works hard to create jobs and opportunities for all employees, regardless of gender, age or life stage. Understanding how they feel about the business is vital. The employees are fundamental to the delivery of the company's plans; and the health, safety and wellbeing of our employees is one of our primary considerations in the way we go about our business.

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;

- | 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

| Gladius Holdings Ltd (Registered number: 10793507) |

Report of the Directors

for the Year Ended 31 December 2025

AUDITORS

The auditors, Tomkinson Teal (Lichfield) LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G N Abuaita - Director

30 June 2026

Report of the Independent Auditors to the Members of

Gladius Holdings Ltd

Opinion

We have audited the financial statements of Gladius Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated Profit and loss account, 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

Gladius Holdings Ltd

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 three, 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design audit procedures in line with our responsibilities to detect material misstatements arising from irregularities, including fraud.

The risk of not detecting a material misstatement due to fraud is higher than for one arising from error, as fraud may involve deliberate concealment, including collusion or misrepresentation. There are inherent limitations in an audit, and the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely it is that it will be detected.

As part of our audit, we obtained an understanding of the legal and regulatory framework applicable to the company and considered the risks of material misstatement arising from non-compliance. We discussed these risks within the engagement team and designed audit procedures accordingly.

Our procedures included enquiries of management and those charged with governance, review of relevant documentation, and testing of transactions where appropriate. We also addressed the risk of management override of controls by reviewing journal entries and accounting estimates for indicators of bias.

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

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.

Report of the Independent Auditors to the Members of

Gladius Holdings Ltd

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.

Susanna D Ault FCA FCCA (Senior Statutory Auditor)

for and on behalf of Tomkinson Teal (Lichfield) LLP

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

30 June 2026

| Gladius Holdings Ltd (Registered number: 10793507) |

Consolidated

Profit and loss account

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

REVENUE | 13,539,917 |  | 12,833,660 |  |

Cost of sales | (4,844,461 | ) | (4,605,334 | ) |

GROSS PROFIT | 8,695,456 |  | 8,228,326 |  |

Administrative expenses | (8,388,025 | ) | (8,309,313 | ) |

307,431 |  | (80,987 | ) |

Other operating income | 89,020 |  | 69,947 |  |

OPERATING PROFIT/(LOSS) | 4 | 396,451 |  | (11,040 | ) |

Interest receivable and similar income | 12,785 |  | 7,539 |  |

PROFIT/(LOSS) BEFORE TAXATION | 409,236 |  | (3,501 | ) |

Tax on profit/(loss) | 5 | (146,262 | ) | (2,602 | ) |

PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 262,974 |  | (6,103 | ) |

Profit/(loss) attributable to:

Owners of the parent | 262,974 |  | (6,103 | ) |

| Gladius Holdings Ltd (Registered number: 10793507) |

Consolidated

Other Comprehensive Income

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT/(LOSS) FOR THE YEAR | 262,974 |  | (6,103 | ) |

OTHER COMPREHENSIVE INCOME |

Revaluation of property | - |  | 35,000 |  |

Income tax relating to other comprehensive income | - |  | (15,398 | ) |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | - |  | 19,602 |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 262,974 |  | 13,499 |  |

Total comprehensive income attributable to:

Owners of the parent | 262,974 |  | 13,499 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Consolidated Balance Sheet

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 8 | 232,173 |  | 273,075 |  |

Property, plant and equipment | 9 | 7,621,778 |  | 8,133,974 |  |

Investments | 10 | 3,557,082 |  | - |  |

11,411,033 |  | 8,407,049 |  |

CURRENT ASSETS

Inventories | 11 | 104,733 |  | 93,403 |  |

Debtors | 12 | 783,446 |  | 788,919 |  |

Cash at bank and in hand | 1,464,885 |  | 1,282,046 |  |

2,353,064 |  | 2,164,368 |  |

CREDITORS

Amounts falling due within one year | 13 | (2,216,105 | ) | (2,018,123 | ) |

NET CURRENT ASSETS | 136,959 |  | 146,245 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 11,547,992 |  | 8,553,294 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (7,611,218 | ) | (4,868,334 | ) |

PROVISIONS FOR LIABILITIES | 18 | (246,008 | ) | (257,168 | ) |

NET ASSETS | 3,690,766 |  | 3,427,792 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 700,000 |  | 700,000 |  |

Revaluation reserve | 20 | 109,339 |  | 109,339 |  |

Capital redemption reserve | 20 | 1 |  | 1 |  |

Retained earnings | 20 | 2,881,426 |  | 2,618,452 |  |

SHAREHOLDERS' FUNDS | 3,690,766 |  | 3,427,792 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2026 and were signed on its behalf by:

G N Abuaita - Director

| Gladius Holdings Ltd (Registered number: 10793507) |

Company Balance Sheet

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 8 | - |  | - |  |

Property, plant and equipment | 9 | 3,055,684 |  | 3,060,600 |  |

Investments | 10 | 4,327,282 |  | 770,200 |  |

7,382,966 |  | 3,830,800 |  |

CURRENT ASSETS

Debtors | 12 | 4,069,175 |  | 3,873,267 |  |

Cash at bank | 538,884 |  | 650,955 |  |

4,608,059 |  | 4,524,222 |  |

CREDITORS

Amounts falling due within one year | 13 | (2,935,713 | ) | (2,173,264 | ) |

NET CURRENT ASSETS | 1,672,346 |  | 2,350,958 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 9,055,312 |  | 6,181,758 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (5,994,921 | ) | (3,168,574 | ) |

PROVISIONS FOR LIABILITIES | 18 | (38,900 | ) | (40,129 | ) |

NET ASSETS | 3,021,491 |  | 2,973,055 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 700,000 |  | 700,000 |  |

Revaluation reserve | 109,339 |  | 109,339 |  |

Capital redemption reserve | 1 |  | 1 |  |

Retained earnings | 2,212,151 |  | 2,163,715 |  |

SHAREHOLDERS' FUNDS | 3,021,491 |  | 2,973,055 |  |

Company's profit for the financial year | 48,436 |  | 155,006 |  |

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2026 and were signed on its behalf by:

G N Abuaita - Director

| Gladius Holdings Ltd (Registered number: 10793507) |

Consolidated Statement of Changes in Equity

for the Year Ended 31 December 2025

| Called up |  | Capital |

| share |  | Retained |  | Revaluation |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1 January 2024 | 700,100 |  | 2,634,555 |  | 89,737 |  | 1 |  | 3,424,393 |  |

Changes in equity

Issue of share capital | (100 | ) | - |  | - |  | - |  | (100 | ) |

Dividends | - |  | (10,000 | ) | - |  | - |  | (10,000 | ) |

Total comprehensive income | - |  | (6,103 | ) | 19,602 |  | - |  | 13,499 |  |

Balance at 31 December 2024 | 700,000 |  | 2,618,452 |  | 109,339 |  | 1 |  | 3,427,792 |  |

Changes in equity

Total comprehensive income | - |  | 262,974 |  | - |  | - |  | 262,974 |  |

Balance at 31 December 2025 | 700,000 |  | 2,881,426 |  | 109,339 |  | 1 |  | 3,690,766 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Company Statement of Changes in Equity

for the Year Ended 31 December 2025

| Called up |  | Capital |

| share |  | Retained |  | Revaluation |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1 January 2024 | 700,000 |  | 2,018,709 |  | 89,737 |  | 1 |  | 2,808,447 |  |

Changes in equity

Dividends | - |  | (10,000 | ) | - |  | - |  | (10,000 | ) |

Total comprehensive income | - |  | 155,006 |  | 19,602 |  | - |  | 174,608 |  |

Balance at 31 December 2024 | 700,000 |  | 2,163,715 |  | 109,339 |  | 1 |  | 2,973,055 |  |

Changes in equity

Total comprehensive income | - |  | 48,436 |  | - |  | - |  | 48,436 |  |

Balance at 31 December 2025 | 700,000 |  | 2,212,151 |  | 109,339 |  | 1 |  | 3,021,491 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Consolidated Cash Flow Statement

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 844,084 |  | 2,080,946 |  |

Tax paid | 98,486 |  | (133,710 | ) |

Net cash from operating activities | 942,570 |  | 1,947,236 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (5,000 | ) | (4,000 | ) |

Purchase of tangible fixed assets | (331,203 | ) | (4,124,489 | ) |

Purchase of fixed asset investments | (3,557,082 | ) | - |  |

Sale of intangible fixed assets | - |  | 30,000 |  |

Interest received | 12,785 |  | 7,539 |  |

Net cash from investing activities | (3,880,500 | ) | (4,090,950 | ) |

Cash flows from financing activities

New loans in year | 3,140,500 |  | 2,892,000 |  |

Loan repayments in year | - |  | (109,730 | ) |

Loan to Central Coffee Ltd | (6,226 | ) | - |  |

Loan to Symor Assets Limited | (10,500 | ) | - |  |

Amount introduced by directors | 9,500 |  | 5,750 |  |

Amount withdrawn by directors | (12,505 | ) | (23,865 | ) |

Share issue | - |  | (100 | ) |

Equity dividends paid | - |  | (10,000 | ) |

Net cash from financing activities | 3,120,769 |  | 2,754,055 |  |

Increase in cash and cash equivalents | 182,839 |  | 610,341 |  |

Cash and cash equivalents at beginning of year | 2 | 1,282,046 |  | 671,705 |  |

Cash and cash equivalents at end of year | 2 | 1,464,885 |  | 1,282,046 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 December 2025

1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit/(loss) before taxation | 409,236 |  | (3,501 | ) |

| Depreciation charges | 883,162 |  | 797,235 |  |

| Loss/(profit) on disposal of fixed assets | 6,139 |  | (16,252 | ) |

| Finance income | (12,785 | ) | (7,539 | ) |

1,285,752 |  | 769,943 |  |

| Increase in inventories | (11,330 | ) | (25,387 | ) |

| Increase in trade and other debtors | (129,627 | ) | (108,564 | ) |

| (Decrease)/increase in trade and other creditors | (300,711 | ) | 1,444,954 |  |

| Cash generated from operations | 844,084 |  | 2,080,946 |  |

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 | 1,464,885 |  | 1,282,046 |  |

| Year ended 31 December 2024

| 31/12/24 |  | 1/1/24

£ | £ |

| Cash and cash equivalents | 1,282,046 |  | 671,705 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/1/25 | Cash flow | At 31/12/25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 1,282,046 |  | 182,839 |  | 1,464,885 |  |

1,282,046 |  | 182,839 |  | 1,464,885 |  |

| Total | 1,282,046 |  | 182,839 |  | 1,464,885 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Gladius Holdings Ltd 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.

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Patents and licences are being amortised evenly over their estimated useful life of nil years.

| Tangible fixed assets

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

| Freehold property | - | No depreciation

| Improvements to property | - | 10% on cost and Straight line over the life of the lease

| Plant and machinery | - | 20% on cost, 15% on reducing balance and 10% on cost

| Fixtures and fittings | - | 33% on cost and 10% on cost

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 10% on cost

| Freehold property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Gladius Holdings Ltd acquired 100% of the share capital in Central Coffee Ltd on 19 December 2025. The results for the period from acquisition to 31 December 2025 have not been included in the consolidated group accounts as the inclusion would not materially affect the true and fair view of the consolidated financial statements.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and loss account, 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.

| Gladius Holdings Ltd (Registered number: 10793507) |

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.

| Pension costs and other post-retirement benefits

| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

| Going concern

| The financial statements have been prepared on a going concern basis which the directors considered to be appropriate. They have predicted an increase in turnover and gross profit for the next financial year, based on an increase in RRP and the addition of two new sites.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 4,381,953 |  | 4,416,918 |  |

| Social security costs | 397,603 |  | 309,174 |  |

| Other pension costs | 63,993 |  | 59,344 |  |

4,843,549 |  | 4,785,436 |  |

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

| 2025 |  | 2024

| Employees | 260 |  | 296 |  |

| Directors | 3 |  | 3 |  |

263 |  | 299 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 337,376 |  | 298,369 |  |

| Directors' pension contributions to money purchase schemes | 1,321 |  | 1,321 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 194,202 |  | 174,500 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

4. | OPERATING PROFIT/(LOSS)

| The operating profit (2024 - operating loss) is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 837,260 |  | 748,750 |  |

| Loss/(profit) on disposal of fixed assets | 6,139 |  | (16,252 | ) |

| Patents and licences amortisation | 45,902 |  | 48,485 |  |

| Auditors' remuneration | 32,450 |  | 29,870 |  |

| Included in auditors remuneration is £ 24,050 (2024:£21,870) in respect of the audit of subsidiary undertakings.

5. | 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 | 157,422 |  | - |  |

| Deferred tax | (11,160 | ) | 2,602 |  |

| Tax on profit/(loss) | 146,262 |  | 2,602 |  |

| 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/(loss) before tax | 409,236 |  | (3,501 | ) |

| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 102,309 |  | (875 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 2,873 |  | 3,830 |  |

| Income not taxable for tax purposes | (20,803 | ) | (16,800 | ) |

| Capital allowances in excess of depreciation | - |  | (68,891 | ) |

| Depreciation in excess of capital allowances | 115,532 |  | - |  |

| Utilisation of tax losses | (42,489 | ) | 82,736 |  |

| Deferred tax | (11,160 | ) | 2,602 |  |

| Total tax charge | 146,262 |  | 2,602 |  |

| Tax effects relating to effects of other comprehensive income |

| There were no tax effects for the year ended 31 December 2025.

| 2024 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Revaluation of property | 35,000 |  | (15,398 | ) | 19,602 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

6. | INDIVIDUAL PROFIT AND LOSS ACCOUNT

| As permitted by Section 408 of the Companies Act 2006, the Profit and Loss Account of the parent company is not presented as part of these financial statements.

7. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary shares of £1 each |

| Interim | - |  | 10,000 |  |

8. | INTANGIBLE FIXED ASSETS

| Group

| Patents

| and

| licences

£ |

| COST

| At 1 January 2025 | 458,518 |  |

| Additions | 5,000 |  |

| Disposals | (5,000 | ) |

| At 31 December 2025 | 458,518 |  |

| AMORTISATION

| At 1 January 2025 | 185,443 |  |

| Amortisation for year | 45,902 |  |

| Eliminated on disposal | (5,000 | ) |

| At 31 December 2025 | 226,345 |  |

| NET BOOK VALUE

| At 31 December 2025 | 232,173 |  |

| At 31 December 2024 | 273,075 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

9. | PROPERTY, PLANT AND EQUIPMENT

| Group

| Improvements |

| Freehold |  | to |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| COST OR VALUATION

| At 1 January 2025 | 3,045,871 |  | 6,060,243 |  | 2,435,098 |  |

| Additions | - |  | 7,946 |  | 301,803 |  |

| Disposals | - |  | - |  | (34,403 | ) |

| At 31 December 2025 | 3,045,871 |  | 6,068,189 |  | 2,702,498 |  |

| DEPRECIATION

| At 1 January 2025 | - |  | 2,311,009 |  | 1,433,941 |  |

| Charge for year | - |  | 476,522 |  | 309,885 |  |

| Eliminated on disposal | - |  | - |  | (28,264 | ) |

| At 31 December 2025 | - |  | 2,787,531 |  | 1,715,562 |  |

| NET BOOK VALUE

| At 31 December 2025 | 3,045,871 |  | 3,280,658 |  | 986,936 |  |

| At 31 December 2024 | 3,045,871 |  | 3,749,234 |  | 1,001,157 |  |

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 January 2025 | 400,361 |  | 18,900 |  | 31,125 |  | 11,991,598 |  |

| Additions | 21,454 |  | - |  | - |  | 331,203 |  |

| Disposals | - |  | - |  | - |  | (34,403 | ) |

| At 31 December 2025 | 421,815 |  | 18,900 |  | 31,125 |  | 12,288,398 |  |

| DEPRECIATION

| At 1 January 2025 | 97,912 |  | 9,783 |  | 4,979 |  | 3,857,624 |  |

| Charge for year | 45,460 |  | 2,280 |  | 3,113 |  | 837,260 |  |

| Eliminated on disposal | - |  | - |  | - |  | (28,264 | ) |

| At 31 December 2025 | 143,372 |  | 12,063 |  | 8,092 |  | 4,666,620 |  |

| NET BOOK VALUE

| At 31 December 2025 | 278,443 |  | 6,837 |  | 23,033 |  | 7,621,778 |  |

| At 31 December 2024 | 302,449 |  | 9,117 |  | 26,146 |  | 8,133,974 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

9. | PROPERTY, PLANT AND EQUIPMENT - continued

| Group

| Cost or valuation at 31 December 2025 is represented by:

| Improvements |

| Freehold |  | to |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| Valuation in 2023 | 80,786 |  | - |  | - |  |

| Valuation in 2023 | 30,000 |  | - |  | - |  |

| Valuation in 2024 | 35,000 |  | - |  | - |  |

| Cost | 2,900,085 |  | 6,068,189 |  | 2,702,498 |  |

3,045,871 |  | 6,068,189 |  | 2,702,498 |  |

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| Valuation in 2023 | - |  | - |  | - |  | 80,786 |  |

| Valuation in 2023 | - |  | - |  | - |  | 30,000 |  |

| Valuation in 2024 | - |  | - |  | - |  | 35,000 |  |

| Cost | 421,815 |  | 18,900 |  | 31,125 |  | 12,142,612 |  |

421,815 |  | 18,900 |  | 31,125 |  | 12,288,398 |  |

| Freehold properties were valued on an open market basis on 31 December 2024 by the directors .

| Company

| Fixtures |

| Freehold |  | and |  | Motor |

| property |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 January 2025 | 3,045,871 |  | 26,839 |  | 18,900 |  | 3,091,610 |  |

| Additions | - |  | 4,404 |  | - |  | 4,404 |  |

| At 31 December 2025 | 3,045,871 |  | 31,243 |  | 18,900 |  | 3,096,014 |  |

| DEPRECIATION

| At 1 January 2025 | - |  | 21,227 |  | 9,783 |  | 31,010 |  |

| Charge for year | - |  | 7,040 |  | 2,280 |  | 9,320 |  |

| At 31 December 2025 | - |  | 28,267 |  | 12,063 |  | 40,330 |  |

| NET BOOK VALUE

| At 31 December 2025 | 3,045,871 |  | 2,976 |  | 6,837 |  | 3,055,684 |  |

| At 31 December 2024 | 3,045,871 |  | 5,612 |  | 9,117 |  | 3,060,600 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

9. | PROPERTY, PLANT AND EQUIPMENT - continued

| Company

| Cost or valuation at 31 December 2025 is represented by:

| Fixtures |

| Freehold |  | and |  | Motor |

| property |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| Valuation in 2023 | 80,786 |  | - |  | - |  | 80,786 |  |

| Valuation in 2023 | 30,000 |  | - |  | - |  | 30,000 |  |

| Valuation in 2024 | 35,000 |  | - |  | - |  | 35,000 |  |

| Cost | 2,900,085 |  | 31,243 |  | 18,900 |  | 2,950,228 |  |

3,045,871 |  | 31,243 |  | 18,900 |  | 3,096,014 |  |

| Freehold properties were valued on an open market basis on 31 December 2025 by the directors .

10. | FIXED ASSET INVESTMENTS

| Group

| Shares in

| group

| undertakings

£ |

| COST

| Additions | 3,557,082 |  |

| At 31 December 2025 | 3,557,082 |  |

| NET BOOK VALUE

| At 31 December 2025 | 3,557,082 |  |

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2025 | 770,200 |  |

| Additions | 3,557,082 |  |

| At 31 December 2025 | 4,327,282 |  |

| NET BOOK VALUE

| At 31 December 2025 | 4,327,282 |  |

| At 31 December 2024 | 770,200 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

10. | FIXED ASSET INVESTMENTS - continued

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

| Subsidiaries

| Pioneers UK Limited

| Registered office: Arden House, 25 The Courtyard, Gorsey Lane, Coleshill B46 1JA

| Nature of business: Retail sale of beverages in specialised stores

| %

| Class of shares: | holding |

| Ordinary £1 shares | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 3,499,668 |  | 3,084,912 |  |

| Profit for the year | 414,756 |  | 473,187 |  |

| AB Office Limited

| Registered office: Arden House, 25 The Courtyard, Gorsey Lane, Coleshill, B46 1JA

| Nature of business: Letting of flexible office space

| %

| Class of shares: | holding |

| Ordinary £1 shares | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | (392,682 | ) | (390,564 | ) |

| Loss for the year | (2,118 | ) | (254,609 | ) |

| Rowans Baker Limited

| Registered office: Arden House, 25 The Courtyard, Gorsey Lane, Coleshill, B46 1JA

| Nature of business: Retail Store

| %

| Class of shares: | holding |

| Ordinary £1 shares | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | (538,567 | ) | (538,567 | ) |

| Pioneers DT Limited

| Registered office: Arden House, 25 The Courtyard, Gorsey Lane, Coleshill, B46 1JA

| Nature of business: Retail sale of beverages in specialised stores

| %

| Class of shares: | holding |

| Ordinary £1 shares | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | (963,347 | ) | (834,635 | ) |

| Loss for the year | (128,712 | ) | (283,475 | ) |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

10. | FIXED ASSET INVESTMENTS - continued

| AB Office i11 Ltd

| Registered office: Arden House, 25 The Courtyard, Gorsey Lane, Coleshill, B46 1JA

| Nature of business: Letting of flexible office space

| %

| Class of shares: | holding |

| Ordinary £1 shares | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | (165,698 | ) | (96,307 | ) |

| Loss for the year | (69,391 | ) | (96,407 | ) |

| Central Coffee Limited

| Registered office: Arden House, 25 The Courtyard, Gorsey Lane, Coleshill, B46 1JA

| Nature of business: Retail sale of beverages in specialised stores

| %

| Class of shares: | holding |

| Ordinary £1 shares | 100.00 |

| Ordinary A £1 shares | 100.00 |

| 31.12.25 |  | 31.3.25

£ | £ |

| Aggregate capital and reserves | 170,200 |  | 2,732,568 |  |

| (Loss)/profit for the period/year | (160,036 | ) | 250,365 |  |

| Gladius Holdings Ltd acquired 100% of the share capital in Central Coffee Ltd on 19 December 2025. The results for the period from acquisition to 31 December 2025 have not been included in the consolidated group accounts as the inclusion would not materially affect the true and fair view of the consolidated financial statements.

11. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Stocks | 104,733 |  | 93,403 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 260,595 |  | 247,515 |  | - |  | - |  |

| Amounts owed by group undertakings | 6,226 |  | - |  | 3,904,854 |  | 3,733,957 |  |

| Amounts owed by associates | 10,500 |  | - |  | 10,500 |  | - |  |

| Other debtors | - |  | 51 |  | - |  | - |  |

| Tax | - |  | 151,826 |  | - |  | - |  |

| Prepayments | 506,125 |  | 389,527 |  | 153,821 |  | 139,310 |  |

783,446 |  | 788,919 |  | 4,069,175 |  | 3,873,267 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade creditors | 643,733 |  | 647,496 |  | 9,383 |  | 7,977 |  |

| Amounts owed to group undertakings | - |  | - |  | 2,010,128 |  | 2,115,983 |  |

| Amounts owed to associates | 314,050 |  | - |  | 314,050 |  | - |  |

| Tax | 104,082 |  | - |  | (116 | ) | - |  |

| Social security and other taxes | 74,158 |  | 61,265 |  | 14,363 |  | 13,253 |  |

| VAT | 468,372 |  | 663,948 |  | 468,372 |  | 13,636 |  |

| Other creditors | 13,431 |  | 18,417 |  | 1,218 |  | 1,145 |  |

| Directors' current accounts | 57 |  | 2,959 |  | - |  | - |  |

| Accrued expenses | 514,930 |  | 540,996 |  | 118,315 |  | 21,270 |  |

| Deferred government grants | 83,292 |  | 83,042 |  | - |  | - |  |

2,216,105 |  | 2,018,123 |  | 2,935,713 |  | 2,173,264 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Amounts owed to group undertakings | 511,459 |  | 511,459 |  | 511,459 |  | 511,459 |  |

| Amounts owed to associates | 6,368,450 |  | 3,542,000 |  | 5,378,450 |  | 2,552,000 |  |

| Directors' loan accounts | 105,012 |  | 105,115 |  | 105,012 |  | 105,115 |  |

| Deferred government grants | 626,297 |  | 709,760 |  | - |  | - |  |

7,611,218 |  | 4,868,334 |  | 5,994,921 |  | 3,168,574 |  |

15. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 1,073,966 |  | 1,184,754 |  |

| Between one and five years | 3,625,924 |  | 3,989,308 |  |

| In more than five years | 2,225,381 |  | 2,774,551 |  |

6,925,271 |  | 7,948,613 |  |

16. | SECURED DEBTS

| At 31 December 2025, there is a fixed and floating charge over all assets at the company dated 18 December 2020 for HSBC UK Bank PLC. This was satisfied on 30 March 2026.

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

17. | FINANCIAL INSTRUMENTS

| Gladius Holdings Limited and its subsidiary, Pioneers UK Limited, has provided an unlimited multilateral guarantee to HSBC Bank plc.

| As of 31 December 2025, no provisions have been made for expected losses related to this guarantee, as the group does not anticipate any default.

18. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Deferred tax | 246,008 |  | 257,168 |  | 38,900 |  | 40,129 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 257,168 |  |

| Provided during year | (11,160 | ) |

| Rate movement |

| Balance at 31 December 2025 | 246,008 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 40,129 |  |

| Rate movement | (1,229 | ) |

| Balance at 31 December 2025 | 38,900 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 700,000 | Ordinary | £1 | 700,000 |  | 700,000 |  |

20. | RESERVES

| Group

| Capital |

| Retained |  | Revaluation |  | redemption |

| earnings |  | reserve |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 January 2025 | 2,618,452 |  | 109,339 |  | 1 |  | 2,727,792 |  |

| Profit for the year | 262,974 |  | 262,974 |  |

| At 31 December 2025 | 2,881,426 |  | 109,339 |  | 1 |  | 2,990,766 |  |

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

20. | RESERVES - continued

| Company

| Revaluation

| reserve

£ |

| At 1 January 2025

| and 31 December 2025 | 109,339 |  |

21. | PENSION COMMITMENTS

| As at 31 December 2025 there were outstanding pension contributions of £12,263 (2024: £17,690).

| Gladius Holdings Ltd (Registered number: 10793507) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

22. | RELATED PARTY DISCLOSURES

| Seldon Investments Limited BVI

| At 31 December 2025, a balance of £6,682,500 (2024: £3,542,000) was due to Seldon Investments Limited BVI, which is owned by trusts of the directors, G Abuaita and of the shareholders of the parent company, Ivalyn Investments Limited.

| This balance includes an unsecured, interest free loan of £2,552,000 with a repayment date of 3 January 2029, and an option to extend for an additional 5 years.

| It further includes a loan of £650,000, which is repayable on 7 July 2030, having been extended for an additional 5 years in 2025. A loan of £340,000 is also unsecured and interest-free, repayable on 25 March 2029.

| During the year the company entered into a new loan of £3,140,500 from Seldon Investments Limited, to fund the acquisition of Central Coffee Ltd. The loan carries a term of ten years.

| The loan shall bear interest at a fixed rate of 4.7% per annum for the first five years after that interest will reset to the 10 years UK Government Gilt Yield (as published by the Bank of England).

| Repayments are made semi-annually and consist of the accrued interest for the period plus a fixed repayment of one-twentieth of the orginal principal amount.

| At 31 December 2025 £3,140,500 remained outstanding.

| All loans listed above are included in creditors due within one year £314,050, and creditors falling due after more than one year £6,368,450

| Symor Assets.

| At 31 December 2025, a balance of £10,500 (2024: £NIL) was due from Symor Assets, an overseas entity controlled by G Abuaita as confirmed by Companies House records.

| Central Coffee Limited

| At 32 December 2025, a balance of £6.226 was due from Central Coffee Ltd, a 100% subsidiary of Gladius Holdings that was acquired on 18 December 2025, but was not included in the consolidated financial statements.

| Ivalyn Investments Limited BVI - 80%shareholder

| At 31 December 2025, a balance of £511,439 (2024: £511,439) was due to Ivalyn Investments Limited and is included in creditors falling due after more than one year. This is not repayable on demand and no repayment terms are attached to this loan.

| G Abuaita - Director and 20% shareholder

| At 31 December 2025, a balance of £105,012 (2024: £105,115) was due to the director. This is included in creditors due after more than one year.

| P G A Abuaita - Director

| At 31 December 2025, a balance of nil (2024: £1,273) was due to the director. This is included in creditors due within one year.

| T A Abuaita - Director

| At 31 December 2025, a balance of £56 (2024: £1,686) was due to the director. This is included in creditors due within one year.

23. | ULTIMATE CONTROLLING PARTY

| The ultimate parent company is Ivalyn Investments Ltd incorporated in the British Virgin Islands.