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REGISTERED NUMBER: 04198160 (England and Wales)

| Solent Rib Charters Limited |

| Unaudited Financial Statements |

| for the Year Ended 31 March 2026 |

| Solent Rib Charters Limited (Registered number: 04198160) |

Contents of the Financial Statements

for the Year Ended 31 March 2026

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Solent Rib Charters Limited |

Company Information

for the Year Ended 31 March 2026

| DIRECTORS: | R J Ward

| S E Hedges

| REGISTERED OFFICE: | Unit 6 Dell Buildings

| Milford Road

| Lymington

| Hampshire

| SO41 0ED

| REGISTERED NUMBER: | 04198160 (England and Wales)

| Solent Rib Charters Limited (Registered number: 04198160) |

Balance Sheet

31 March 2026

| 2026 |  | 2025

| Notes | £ | £ |

Fixed assets

Intangible assets | 5 | 62,149 |  | 73,471 |  |

Tangible assets | 6 | 4,350,660 |  | 3,419,554 |  |

4,412,809 |  | 3,493,025 |  |

Current assets

Debtors | 7 | 1,904,745 |  | 1,189,911 |  |

Cash at bank | 1,552,229 |  | 1,089,954 |  |

3,456,974 |  | 2,279,865 |  |

Creditors

Amounts falling due within one year | 8 | (1,627,068 | ) | (1,346,824 | ) |

Net current assets | 1,829,906 |  | 933,041 |  |

Total assets less current liabilities | 6,242,715 |  | 4,426,066 |  |

Provisions for liabilities | (1,019,759 | ) | (826,270 | ) |

Net assets | 5,222,956 |  | 3,599,796 |  |

Capital and reserves

Called up share capital | 9 | 180 |  | 180 |  |

Share premium | 154,108 |  | 154,108 |  |

Retained earnings | 5,068,668 |  | 3,445,508 |  |

Shareholders' funds | 5,222,956 |  | 3,599,796 |  |

| Solent Rib Charters Limited (Registered number: 04198160) |

Balance Sheet - continued

31 March 2026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 7 August 2026 and were signed on its behalf by:

R J Ward - Director

| Solent Rib Charters Limited (Registered number: 04198160) |

Notes to the Financial Statements

for the Year Ended 31 March 2026

1. | GENERAL INFORMATION

| The company is a private company limited by share capital, incorporated in England and Wales.

| The address of its registered office is:

| Unit 6 Dell Buildings

| Milford Road

| Lymington

| Hampshire

| SO41 0ED

2. | STATEMENT OF COMPLIANCE

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| BASIS OF PREPARATION

| These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

| The company's functional and presentational currency is pound sterling.

| GOING CONCERN

| The financial statements have been prepared on a going concern basis.

| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES

| The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

| REVENUE RECOGNITION

| Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

| The company recognises revenue when:

| The amount of revenue can be reliably measured;

| it is probable that future economic benefits will flow to the entity;

| and specific criteria have been met for each of the company's activities.

| Solent Rib Charters Limited (Registered number: 04198160) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

3. | ACCOUNTING POLICIES - continued

| TANGIBLE ASSETS

| Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

| The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

| DEPRECIATION

| Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

| Asset class |  |  | Depreciation method and rate |  |

| Leasehold properties |  |  | Straight line over the life of the lease |  |

| Boats and equipment |  |  | 10% straight line |  |

| Fixtures, fittings and equipment |  |  | 10%/25% straight line |  |

| Motor vehicles |  |  | 25% straight line |  |

| I.T. equipment |  |  | 33% straight line |  |

| GOODWILL

| Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

| AMORTISATION

| Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

| Asset class |  |  | Amortisation method and rate |  |

| Goodwill |  |  | Over 3 years |  |

| INVESTMENTS

| Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

| Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

| 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.

| Solent Rib Charters Limited (Registered number: 04198160) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

3. | 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.

| CASH AND CASH EQUIVALENTS

| Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

| TRADE DEBTORS

| Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

| Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

| TRADE CREDITORS

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

| Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

| Solent Rib Charters Limited (Registered number: 04198160) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

3. | ACCOUNTING POLICIES - continued

| BORROWINGS

| Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

| Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

| Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

| SHARE CAPITAL

| Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

| DIVIDENDS

| Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

| DEFINED CONTRIBUTION PENSION OBLIGATION

| A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

| Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 45 (2025 - 44 ) .

5. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 April 2025

| and 31 March 2026 | 306,105 |  |

| AMORTISATION

| At 1 April 2025 | 232,634 |  |

| Amortisation for year | 11,322 |  |

| At 31 March 2026 | 243,956 |  |

| NET BOOK VALUE

| At 31 March 2026 | 62,149 |  |

| At 31 March 2025 | 73,471 |  |

| Solent Rib Charters Limited (Registered number: 04198160) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

6. | TANGIBLE FIXED ASSETS

| Furniture

| Leasehold |  | Boats and |  | and

| properties |  | equipment |  | fittings

£ | £ | £ |

| COST

| At 1 April 2025 | 38,269 |  | 9,260,628 |  | 158,367 |  |

| Additions | - |  | 2,214,634 |  | - |  |

| Disposals | - |  | (29,492 | ) | - |  |

| At 31 March 2026 | 38,269 |  | 11,445,770 |  | 158,367 |  |

| DEPRECIATION

| At 1 April 2025 | 38,268 |  | 5,841,075 |  | 158,367 |  |

| Charge for year | - |  | 1,264,404 |  | - |  |

| Eliminated on disposal | - |  | (10,368 | ) | - |  |

| At 31 March 2026 | 38,268 |  | 7,095,111 |  | 158,367 |  |

| NET BOOK VALUE

| At 31 March 2026 | 1 |  | 4,350,659 |  | - |  |

| At 31 March 2025 | 1 |  | 3,419,553 |  | - |  |

| Motor |  | Office |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 April 2025 | 85,711 |  | 41,581 |  | 9,584,556 |  |

| Additions | - |  | - |  | 2,214,634 |  |

| Disposals | - |  | - |  | (29,492 | ) |

| At 31 March 2026 | 85,711 |  | 41,581 |  | 11,769,698 |  |

| DEPRECIATION

| At 1 April 2025 | 85,711 |  | 41,581 |  | 6,165,002 |  |

| Charge for year | - |  | - |  | 1,264,404 |  |

| Eliminated on disposal | - |  | - |  | (10,368 | ) |

| At 31 March 2026 | 85,711 |  | 41,581 |  | 7,419,038 |  |

| NET BOOK VALUE

| At 31 March 2026 | - |  | - |  | 4,350,660 |  |

| At 31 March 2025 | - |  | - |  | 3,419,554 |  |

| Solent Rib Charters Limited (Registered number: 04198160) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

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

2026 | 2025 |

£ | £ |

| Trade debtors | 1,713,732 |  | 996,442 |  |

| Amounts owed by group undertakings | 3,151 |  | 2,155 |  |

| Other loans | 12,000 |  | 24,275 |  |

| Prepayments and accrued income | 175,862 |  | 167,039 |  |

1,904,745 |  | 1,189,911 |  |

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

2026 | 2025 |

£ | £ |

| Trade creditors | 173,932 |  | 284,520 |  |

| Corporation tax liability | 743,228 |  | 253,531 |  |

| Social security and other taxes | 45,039 |  | 176,198 |  |

| Credit card | 33,324 |  | - |  |

| Accruals and deferred income | 631,545 |  | 632,575 |  |

1,627,068 |  | 1,346,824 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2026 | 2025 |

| value: | £ | £ |

| 100 | Ordinary shares | £1 | 180 |  | 100 |  |

| 80 | Ordinary shares | £1 | - |  | 80 |  |

180 |  | 180 |  |

10. | DIVIDENDS

|  | 2026 |  | 2025 |  |

| £ |  | £ |  |

| Interim dividend of £6,531 (2025 - £5,393) per ordinary share |  | 1,175,500 |  | 970,700 |  |