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REGISTERED NUMBER: 16643008 (England and Wales)

| FINANCIAL STATEMENTS |

| FOR THE PERIOD |

| 11 AUGUST 2025 TO 31 DECEMBER 2025 |

| FOR |

| CUBE 123 MIDCO LIMITED |

CUBE 123 MIDCO LIMITED (REGISTERED NUMBER: 16643008)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 11 AUGUST 2025 TO 31 DECEMBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

CUBE 123 MIDCO LIMITED

COMPANY INFORMATION

FOR THE PERIOD 11 AUGUST 2025 TO 31 DECEMBER 2025

| DIRECTORS: | Mrs A Hope-Richardson

| Mr RJ Poutch

| Mr P Woolley

| REGISTERED OFFICE: | Floor 3

| Mercury Place

| 11 St. George Street

| Leicester

| Leicestershire

| LE1 1QG

| REGISTERED NUMBER: | 16643008 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Mark Harrison BA FCA

| AUDITORS: | Mark J Rees LLP Chartered Accountants

| and Statutory Auditors

| Granville Hall

| Granville Road

| Leicester

| LE1 7RU

CUBE 123 MIDCO LIMITED (REGISTERED NUMBER: 16643008)

BALANCE SHEET

31 DECEMBER 2025

| Notes | £ |

| CURRENT ASSETS

| Debtors | 5 | 17,011,000 |  |

| CREDITORS

| Amounts falling due within one year | 6 | 17,011,000 |  |

| TOTAL ASSETS LESS CURRENT LIABILITIES | - |  |

| RESERVES | -

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 Board of Directors and authorised for issue on 6 July 2026 and were signed on its behalf by:

Mrs A Hope-Richardson - Director

CUBE 123 MIDCO LIMITED (REGISTERED NUMBER: 16643008)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 11 AUGUST 2025 TO 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Cube 123 Midco 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 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.

| Preparation of consolidated financial statements

| The financial statements contain information about Cube 123 Midco Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Cube 123 Topco Limited, Floor 3 Mercury Place, 11 St. George Street, Leicester, United Kingdom, LE1 1QG.

| 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.

| Significant judgements and estimates

| In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts 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 underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| Taxation

| Taxation for the period 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.

CUBE 123 MIDCO LIMITED (REGISTERED NUMBER: 16643008)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 11 AUGUST 2025 TO 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 period 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.

| Investments in subsidiaries

| Investments in subsidiaries are measured at cost less impairment. Any impairment losses are recognised in the profit and loss account.

| Debtors

| Short term debtors are measure at transaction price, less any impairment. Loans receivable are measured

| initially at fair value, net of transaction costs, and are measured subsequently, where material, at amortised cost using the effective interest method, less any impairment

| 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.

| Going concern

| The directors are satisfied that the company has adequate financial resources to operate for the foreseeable future. Therefore, the company has continued to adopt the going concern basis in preparing the financial statements.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was NIL.

4. | FIXED ASSET INVESTMENTS

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

| Cube 123 Bidco Limited

| Registered office: Floor 3 Mercury Place, 11 St. George Street, Leicester, United Kingdom, LE1 1QG

| Nature of business: Activities of a holding company.

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 |

£ |

| Aggregate capital and reserves | (202,836 | ) |

| Loss for the period | (202,836 | ) |

| The company holds 100% of the shares in Cube 123 Bidco Limited. The issued share capital comprises 1 share with a nominal value of £0.01.

CUBE 123 MIDCO LIMITED (REGISTERED NUMBER: 16643008)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 11 AUGUST 2025 TO 31 DECEMBER 2025

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

£ |

| Amounts owed by group undertakings | 17,011,000 |  |

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

£ |

| Amounts owed to group undertakings | 17,011,000 |  |

7. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal

| value: | £ |

| 1 | Ordinary | £0.01 | - |  |

| 1 Ordinary share of £0.01 was allotted and fully paid for cash at par during the period.

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

| The Report of the Auditors was unqualified.

| Mark Harrison BA FCA (Senior Statutory Auditor)

| for and on behalf of Mark J Rees LLP Chartered Accountants

9. | CONTINGENT LIABILITIES

| The company has entered into a composite guarantee and debenture dated 18 September 2025 in favour of Rockpool (Security Trustee) Limited, under which it has guaranteed the obligations of certain group undertakings and granted fixed and floating charges over its assets as security; no amounts were outstanding in respect of this arrangement at the balance sheet date and the directors do not consider that any liability will arise.

10. | ULTIMATE CONTROLLING PARTY

| The controlling party is Cube 123 Topco Limited.

| The ultimate controlling party is Rockpool Investments LLP.

| The company is included within the consolidated financial statements of Cube 123 Topco Limited and copies of these can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.