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REGISTERED NUMBER: 08315238 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Akendi UK Limited

Akendi UK Limited (Registered number: 08315238)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 3 |

Akendi UK Limited (Registered number: 08315238)

Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 7,422 |  | 6,177 |  |

Investments | 5 | 25 |  | 25 |  |

7,447 |  | 6,202 |  |

CURRENT ASSETS

Debtors | 6 | 30,746 |  | 88,454 |  |

Cash at bank | 16,358 |  | 28,885 |  |

47,104 |  | 117,339 |  |

CREDITORS

Amounts falling due within one year | 7 | 31,464 |  | 55,180 |  |

NET CURRENT ASSETS | 15,640 |  | 62,159 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 23,087 |  | 68,361 |  |

CREDITORS

Amounts falling due after more than one year | 8 | - |  | (4,871 | ) |

PROVISIONS FOR LIABILITIES | - |  | (15,063 | ) |

NET ASSETS | 23,087 |  | 48,427 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 22,987 |  | 48,327 |  |

23,087 |  | 48,427 |  |

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 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.

Akendi UK Limited (Registered number: 08315238)

Balance Sheet - continued

31 December 2025

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 25 March 2026 and were signed on its behalf by:

L Poll - Director

Akendi UK Limited (Registered number: 08315238)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Akendi UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 08315238

| Registered office: | 184 The Tram Shed

| East Road

| Cambridge

| Cambridgeshire

| CB1 1BG

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

| Tangible assets are stated in the balance sheet 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

| Office equipment - 25% reducing balance

| Fixtures and fittings - 20% straight line

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| 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.

| 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.

Akendi UK Limited (Registered number: 08315238)

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.

| Judgements

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements ar continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Foreign currency transactions and balances

| Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

| At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

| Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss Account within 'Other interest receivable and similar income'.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash on hand and call deposits.

| Trade debtors

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

| Trade debtors are recognised at the transaction price.

| Trade debtors are reviewed annually for any bad debt and any adjustment is made accordingly through the profit and loss.

| 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 at the transaction price.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 4 ) .

Akendi UK Limited (Registered number: 08315238)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2025 | 28,568 |  |

| Additions | 3,170 |  |

| At 31 December 2025 | 31,738 |  |

| DEPRECIATION

| At 1 January 2025 | 22,391 |  |

| Charge for year | 1,925 |  |

| At 31 December 2025 | 24,316 |  |

| NET BOOK VALUE

| At 31 December 2025 | 7,422 |  |

| At 31 December 2024 | 6,177 |  |

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 25 |  |

| NET BOOK VALUE

| At 31 December 2025 | 25 |  |

| At 31 December 2024 | 25 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 15,413 |  | 58,394 |  |

| Amounts owed by group undertakings | 10,784 |  | 8,234 |  |

| Other debtors | 1,750 |  | 1,750 |  |

| Deferred tax asset | 685 |  | 17,762 |  |

| Prepayments | 2,114 |  | 2,314 |  |

30,746 |  | 88,454 |  |

Akendi UK Limited (Registered number: 08315238)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 5,000 |  | 10,130 |  |

| Trade creditors | 12,146 |  | 12,087 |  |

| Social security and other taxes | (597 | ) | 9,196 |  |

| VAT | 8,810 |  | 17,074 |  |

| Pension contributions unpaid | 1,116 |  | 2,767 |  |

| Credit Card | 2,922 |  | 2,214 |  |

| Wages payable | (12 | ) | - |  |

| Directors' current accounts | 356 |  | 44 |  |

| Accrued expenses | 1,723 |  | 1,668 |  |

31,464 |  | 55,180 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans - 2-5 years | - |  | 4,871 |  |

| Included within bank loans and overdrafts due within one year is £5,000 (2024: £10,130). Amounts due over one year are £Nil (2024: £4,871). This relates to a loan acquired under the Bounce Back Loan Scheme (BBLS) which is managed by the British Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy.

9. | RELATED PARTY TRANSACTIONS

| The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

2025 | 2024 |

£ | £ |

| L Poll

| Balance outstanding at start of year | (45 | ) | (529 | ) |

| Amounts advanced | - |  | 896 |  |

| Amounts repaid | (312 | ) | (412 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (357 | ) | (45 | ) |

| This loan is provided interest free and is repayable on demand.

10. | RELATED PARTY DISCLOSURES

| At the balance sheet date, the company was owed £7,650, from their parent company Akendi Inc. (2024: owed £7,759 to Akendi Inc.)

| At the balance sheet date, the company was owed £3,134 (2023: £475), from Keen Design Ltd, a company within the group, which Akendi UK Ltd holds shares in.

11. | ULTIMATE CONTROLLING PARTY

| The company's immediate parent is Akendi (Toronto) Inc, incorporated in Canada.