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REGISTERED NUMBER: 01220157 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Steamond Limited |

Steamond Limited (Registered number: 01220157)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

Steamond Limited

Company Information

for the Year Ended 31 December 2025

| DIRECTOR: | M F Da Silva

| REGISTERED OFFICE: | 657 Fulham Road

| London

| SW6 5PY

| REGISTERED NUMBER: | 01220157 (England and Wales)

| ACCOUNTANTS: | Garside and Co. Limited

| Suite 631, Linen Hall

| 162-168 Regent Street

| London

| W1B 5TG

Steamond Limited (Registered number: 01220157)

Balance Sheet

31 December 2025

| 31.12.25 |  | 31.12.24

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 31,220 |  | 30,544 |  |

CURRENT ASSETS

Debtors | 5 | 501,874 |  | 157,245 |  |

Cash at bank and in hand | 176,397 |  | 318,846 |  |

678,271 |  | 476,091 |  |

CREDITORS

Amounts falling due within one year | 6 | (321,844 | ) | (116,590 | ) |

NET CURRENT ASSETS | 356,427 |  | 359,501 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 387,647 |  | 390,045 |  |

CAPITAL AND RESERVES

Called up share capital | 50,000 |  | 50,000 |  |

Retained earnings | 337,647 |  | 340,045 |  |

387,647 |  | 390,045 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 June 2026 and were signed by:

M F Da Silva - Director

Steamond Limited (Registered number: 01220157)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Steamond 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 Company Information page.

| The company's functional and presentational currency 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.

| Going concern

| At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

| Turnover

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

| Tangible fixed assets

| Tangible fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulative depreciation and impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Plant and machinery |  | 25% straight line |  |

| Fixtures, fittings & equipment |  | 10% straight line |  |

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statement.

Steamond Limited (Registered number: 01220157)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Impairment of fixed assets

| At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

| Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

| If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the income statement, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

| Debtors

| Short term 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 and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Creditors

| Trade and other creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Short term creditors are measured at 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

| Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised. Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

Steamond Limited (Registered number: 01220157)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks.

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangement constitutes a financing transaction, such as a trade debtor or creditor on extended credit terms, initial measurement is at the present value of future cash flows discounted at a market rate of interest. Subsequent measurement is at amortised cost.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is identified, an impairment loss is recognised in the statement of comprehensive income.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between carrying amount and the present value of estimated cash flows discounted at the original effective interest rate. If the financial instrument has a variable interest rate the currently effective rate under the contract is use.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.

| Financial assets and liabilities are offset, and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. At present, the company has not offset any items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 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.

| Hire purchase and leasing commitments

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

Steamond Limited (Registered number: 01220157)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

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

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 11 (2024 - 10 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2025 | 85,250 |  |

| Additions | 6,118 |  |

| At 31 December 2025 | 91,368 |  |

| DEPRECIATION

| At 1 January 2025 | 54,706 |  |

| Charge for year | 5,442 |  |

| At 31 December 2025 | 60,148 |  |

| NET BOOK VALUE

| At 31 December 2025 | 31,220 |  |

| At 31 December 2024 | 30,544 |  |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade debtors | 412,350 |  | 124,177 |  |

| Other debtors | 75,000 |  | - |  |

| Directors' current accounts | - |  | 2,800 |  |

| Corporation tax recoverable | 4,353 |  | 16,891 |  |

| VAT | 2,341 |  | 2,891 |  |

| Prepayments and accrued income | 7,830 |  | 10,486 |  |

501,874 |  | 157,245 |  |

| Included in Other debtors is an amount of £75,000 (2024: £Nil) representing a security deposit held with the International Air Transport Association (IATA).

Steamond Limited (Registered number: 01220157)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade creditors | 279,551 |  | 68,864 |  |

| Other creditors | 12,866 |  | 10,502 |  |

| Deposits | 18,564 |  | 27,821 |  |

| Accruals and deferred income | 10,863 |  | 9,403 |  |

321,844 |  | 116,590 |  |

| There was no BSP outstanding balance at the year end 31 December 2025 (2024: £55,561). A balance of £17,134 relating to advance payments to BSP is included in Trade debtors.

7. | OTHER FINANCIAL COMMITMENTS

| Potential contingent liabilities with regard to travel arrangements are satisfied by compliance with ABTA requirements on bonding levels. The company has a bonding facility of £36,455 (2024: £25,000), which is included in the Cash at bank and in hand balance, guaranteed by a blocked amount in one of the company's bank accounts with National Westminster Bank Plc. There were no specific liabilities at the year end.

8. | AIR TRAVEL ORGANISER’S LICENCE (ATOL)

| Steamond Limited is a licenced operator under the Air Travel Organiser’s Licence (ATOL) scheme. License no 74159.

9. | INTERNATIONAL AIR TRANSPORT ASSOCIATION (IATA)

| Steamond Limited is a member of the International Air Transport Association (IATA) numeric code 91206032.