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REGISTERED NUMBER: 14223035 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Horaceuk Ltd

Horaceuk Ltd (Registered number: 14223035)

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 |

Horaceuk Ltd

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | M Briant-Terlet

| K Mazzilli

| SECRETARY: | Altios International UK Limited

| REGISTERED OFFICE: | Willberforce House

| Station Road

| London

| NW4 4QE

| REGISTERED NUMBER: | 14223035 (England and Wales)

| AUDITORS: | Zome Audit & Accountancy Ltd (Statutory Auditor)

| Chartered Accountants

| 5th Floor

| 111 Charterhouse Street

| London

| EC1M 6AW

Horaceuk Ltd (Registered number: 14223035)

Balance Sheet

31 December 2025

31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 4 | 77,162 |  | 103,846 |  |

CURRENT ASSETS

Stocks | 224,303 |  | 307,050 |  |

Debtors | 5 | 358,228 |  | 115,916 |  |

Cash at bank | 1,585,111 |  | 822,704 |  |

2,167,642 |  | 1,245,670 |  |

CREDITORS

Amounts falling due within one year | 6 | 5,968,409 |  | 3,659,997 |  |

NET CURRENT LIABILITIES | (3,800,767 | ) | (2,414,327 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (3,723,605 | ) | (2,310,481 | ) |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Retained earnings | (3,724,605 | ) | (2,311,481 | ) |

SHAREHOLDERS' FUNDS | (3,723,605 | ) | (2,310,481 | ) |

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 18 June 2026 and were signed on its behalf by:

M Briant-Terlet - Director

Horaceuk Ltd (Registered number: 14223035)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Horaceuk 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 Company Information page.

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.

| 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

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

| Fixture and fitting: 20% straight Line

| Office Equipment: 20% staright Line

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Stock held at year end was valued at £224,303 (2024: £307,050).

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| 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.

Horaceuk Ltd (Registered number: 14223035)

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 5 (2024 - 5 ) .

4. | TANGIBLE FIXED ASSETS

Plant and |

machinery |

etc |

| £

| COST

| At 1 January 2025

| and 31 December 2025 | 133,852 |  |

| DEPRECIATION

| At 1 January 2025 | 30,006 |  |

| Charge for year | 26,684 |  |

| At 31 December 2025 | 56,690 |  |

| NET BOOK VALUE

| At 31 December 2025 | 77,162 |  |

| At 31 December 2024 | 103,846 |  |

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

31.12.25 | 31.12.24 |

| £ | £

| Trade debtors | 48,179 |  | 29,829 |  |

| Other debtors | 120,801 |  | 52,158 |  |

| Accrued income and prepayments | 189,248 |  | 33,929 |  |

358,228 |  | 115,916 |  |

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

31.12.25 | 31.12.24 |

| £ | £

| Trade creditors | 152,339 |  | 165,281 |  |

| Amounts owed to group undertakings | 5,457,003 |  | 3,335,291 |  |

| Taxation and social security | 241,109 |  | 124,580 |  |

| Other creditors | 117,958 |  | 34,845 |  |

5,968,409 |  | 3,659,997 |  |

Horaceuk Ltd (Registered number: 14223035)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

7. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25 | 31.12.24 |

| £ | £

| Within one year | 85,000 |  | 85,000 |  |

| Between one and five years | 162,500 |  | 247,500 |  |

247,500 |  | 332,500 |  |

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

| The Report of the Auditors was unqualified.

| Roy Davis FCA (Senior Statutory Auditor)

| for and on behalf of Zome Audit & Accountancy Ltd (Statutory Auditor)

9. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| The total balance with the parent company at the balance sheet date is £6,172,141 (2024: £3,335,291).

10. | PARENT COMPANY

| The immediate parent company is Olbo SAS, a company incorporated in France, for which the registered office is 141 rue d'Aboukir, 75002, Paris.