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REGISTERED NUMBER: 05186236 (England and Wales)

| Group Strategic Report, Report of the Directors and |

| Consolidated Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Park Group Holdings Limited |

Park Group Holdings Limited (Registered number: 05186236)

Contents of the Consolidated Financial Statements

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 5 |

Report of the Independent Auditors | 7 |

Consolidated Income Statement | 10 |

Consolidated Other Comprehensive Income | 11 |

Consolidated Balance Sheet | 12 |

Company Balance Sheet | 13 |

Consolidated Statement of Changes in Equity | 14 |

Company Statement of Changes in Equity | 15 |

Consolidated Cash Flow Statement | 16 |

Notes to the Consolidated Cash Flow Statement | 17 |

Notes to the Consolidated Financial Statements | 18 |

Park Group Holdings Limited

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | D Geers

| P Geers

| REGISTERED OFFICE: | Alpine Way

| London

| E6 6LA

| REGISTERED NUMBER: | 05186236 (England and Wales)

| AUDITORS: | Try Lunn & Co

| Chartered Accountants

| and Statutory Auditors

| Roland House

| Princes Dock Street

| HULL HU1 2LD

Park Group Holdings Limited (Registered number: 05186236)

Group Strategic Report

for the Year Ended 31 December 2025

The directors present their strategic report of the company and the group for the year ended 31 December 2025.

The principal activity of the Group during the year continued to be the provision of high-quality printing and print finishing services, together with mailing and fulfilment.

The majority of projects are produced from artwork supplied by customers. The Group maintains in-house pre-press and typesetting capability to support specific sectors, including auction catalogues and specialist publications, but its core focus remains production-led print manufacturing.

The Group operates across several key market segments, including Annual Reports, independent magazine publishing and general commercial print.

The Group differentiates itself through the quality of its production, strong environmental credentials, and a high level of service delivered throughout the manufacturing and fulfilment process.

As part of the Graphius Group, the Group benefits from strategic oversight and leadership support, and access to a wider range of specialist production capabilities across the Group's European sites. This enables the sales team to offer customers additional products and services beyond Park's standalone manufacturing scope.

REVIEW OF BUSINESS

Strategy and Strategic Priorities

Sales growth remains a core strategic priority.

The acquisition of Geoff Neal has contributed to increased sales activity and strengthened operational capability through the integration of experienced personnel.

Investment priorities include further automation through robotic solutions for manual packing and palletising tasks, investment in thread sewing capability, and continued development of the Company's MIS and Prinect systems towards a fully integrated JDF workflow.

Market Environment and Competitive Position

Trading conditions during 2025 remained challenging.

The Group continues to compete strongly on turnaround times, production quality and sustainability credentials, positioning itself as one of the leading operators within its chosen markets.

Outlook

Management's expectations for 2026 are based on the assumption that trading conditions within core markets remain broadly consistent, that key customer relationships are retained, and that integration benefits continue to be realised.

The Directors remains confident in the Group's positioning, the Directors expect further operational improvements through automation, workflow enhancement and strengthened purchasing strategy to support margin recovery and long-term resilience.

Park Group Holdings Limited (Registered number: 05186236)

Group Strategic Report

for the Year Ended 31 December 2025

PRINCIPAL RISKS AND UNCERTAINTIES

There are certain risks which could directly and materially impact the Group's results compared with expectations. A summary of key risks is set out below. This is not an exhaustive list of the factors that could adversely impact Group's profitability.

The Group faces several principal risks that could materially impact performance:

Market and Economic Risk - Customer confidence and reduced marketing budgets remain key sensitivities.

Competitive Pricing Pressure - Price competition has intensified in a contracting marketplace, particularly during seasonal low-demand periods.

Input Cost Inflation - Material price increases and labour cost pressures remain significant risks.

Labour and Skills Risk - Labour shortages and wage inflation require ongoing workforce planning and cost management.

Acquisition Integration Risk - Integration risk is monitored through regular Directors review of operational and financial performance.

Management actively reviews mitigating controls including customer complaints, internal non-conformance reporting, health and safety performance and detailed financial reporting.

FINANCIAL KEY PERFORMANCE INDICATORS

The Directors monitors performance through monthly financial reviews. Key financial indicators include the measurement of turnover, operating profit and pre-tax profit

The Group delivered:

- Turnover from continuing operations of £22,021,029 (2024: £16,877,544)

- An operating (loss)/profit of (£227,086) (2024: £260,174)

- A pre-tax (loss)/profit of (£668,723) (2024: £146,157)

At the year-end, there was a cash balance of £207,772 (2024 : £353,766), loan finance of £2,552,427 (2024 : £3,785,448) and shareholders funds of £1,377,332 (2024 : £1,356,132)

Park Group Holdings Limited (Registered number: 05186236)

Group Strategic Report

for the Year Ended 31 December 2025

SUSTAINABILITY AND RESPONSIBLE BUSINESS

Sustainability remains a core differentiator for the Group.

Park Communications is ISO 14001 certified and operates in alignment with EMAS standards. The Company is a certified climate neutral business through ClimatePartner and offsets production-related carbon emissions through verified projects. The facility is powered by 100% renewable energy, significantly reducing the Company's carbon footprint at source.

The Company holds FSC certification (License Code: FSC-C001785) and ensures that the majority of paper is FSC or PEFC certified. An approved supplier list is reviewed bi-annually to maintain responsible sourcing standards.

Through participation in the BPIF Climate Change Agreement, the Company implements targeted energy reduction measures in line with UK government schemes. Approximately 99% of printing waste is recycled, and sustainable inks are prioritised.

Sustainability credentials increasingly influence customer tenders and supplier selection decisions, particularly among clients seeking to strengthen their own ESG reporting.

Management continues to monitor emerging ESG developments including UK Sustainability Reporting Standards, Climate Change Agreement requirements, EU Deforestation Regulation developments and broader carbon transparency expectations to ensure continued compliance and competitive positioning.

ON BEHALF OF THE BOARD:

P Geers - Director

8 July 2026

Park Group Holdings Limited (Registered number: 05186236)

Report of the Directors

for the Year Ended 31 December 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company is a holding company. The principal activity of the subsidiary is the origination, printing, finishing, artworking and distribution of reports, magazines, catalogues, books and brochures.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

D Geers

P Geers

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Park Group Holdings Limited (Registered number: 05186236)

Report of the Directors

for the Year Ended 31 December 2025

AUDITORS

The auditors, Try Lunn & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P Geers - Director

8 July 2026

Report of the Independent Auditors to the Members of

Park Group Holdings Limited

Opinion

We have audited the financial statements of Park Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2025 and of the group's loss for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Park Group Holdings Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statements disclosures to underlying supporting documentation, enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

Park Group Holdings Limited

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Ewart FCA FCCA (Senior Statutory Auditor)

for and on behalf of Try Lunn & Co

Chartered Accountants

and Statutory Auditors

Roland House

Princes Dock Street

HULL HU1 2LD

8 July 2026

Park Group Holdings Limited (Registered number: 05186236)

Consolidated Income Statement

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 22,021,229 |  | 16,877,544 |  |

Cost of sales | 17,660,470 |  | 13,467,972 |  |

GROSS PROFIT | 4,360,759 |  | 3,409,572 |  |

Administrative expenses | 5,171,462 |  | 3,153,264 |  |

(810,703 | ) | 256,308 |  |

Other operating income | 583,617 |  | 3,866 |  |

OPERATING (LOSS)/PROFIT | 6 | (227,086 | ) | 260,174 |  |

Interest receivable and similar income | 1,076 |  | 436 |  |

(226,010 | ) | 260,610 |  |

Interest payable and similar expenses | 8 | 442,713 |  | 114,453 |  |

(LOSS)/PROFIT BEFORE TAXATION | (668,723 | ) | 146,157 |  |

Tax on (loss)/profit | 9 | (280,216 | ) | 90,647 |  |

(LOSS)/PROFIT FOR THE FINANCIAL YEAR | (388,507 | ) | 55,510 |  |

(Loss)/profit attributable to:

Owners of the parent | (388,507 | ) | 55,510 |  |

Park Group Holdings Limited (Registered number: 05186236)

Consolidated Other Comprehensive Income

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

(LOSS)/PROFIT FOR THE YEAR | (388,507 | ) | 55,510 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (388,507 | ) | 55,510 |  |

Total comprehensive income attributable to:

Owners of the parent | (388,507 | ) | 55,510 |  |

Park Group Holdings Limited (Registered number: 05186236)

Consolidated Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 12 | 781,413 |  | 475,692 |  |

Tangible assets | 13 | 4,915,230 |  | 6,343,453 |  |

Investments | 14 | - |  | - |  |

5,696,643 |  | 6,819,145 |  |

CURRENT ASSETS

Stocks | 15 | 486,765 |  | 774,879 |  |

Debtors | 16 | 4,947,367 |  | 4,412,706 |  |

Cash at bank and in hand | 207,772 |  | 353,766 |  |

5,641,904 |  | 5,541,351 |  |

CREDITORS

Amounts falling due within one year | 17 | 6,703,956 |  | 6,406,759 |  |

NET CURRENT LIABILITIES | (1,062,052 | ) | (865,408 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,634,591 |  | 5,953,737 |  |

CREDITORS

Amounts falling due after more than one year | 18 | (2,520,249 | ) | (3,172,176 | ) |

PROVISIONS FOR LIABILITIES | 21 | (379,048 | ) | (657,760 | ) |

NET ASSETS | 1,735,294 |  | 2,123,801 |  |

CAPITAL AND RESERVES

Called up share capital | 22 | 519,198 |  | 519,198 |  |

Share premium | 23 | 899,198 |  | 899,198 |  |

Capital redemption reserve | 23 | 29,173 |  | 29,173 |  |

Retained earnings | 23 | 287,725 |  | 676,232 |  |

SHAREHOLDERS' FUNDS | 1,735,294 |  | 2,123,801 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2026 and were signed on its behalf by:

P Geers - Director

Park Group Holdings Limited (Registered number: 05186236)

Company Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 12 | - |  | - |  |

Tangible assets | 13 | 3,781,109 |  | 4,243,088 |  |

Investments | 14 | 5,445,488 |  | 5,445,488 |  |

9,226,597 |  | 9,688,576 |  |

CURRENT ASSETS

Cash at bank | 455 |  | 741 |  |

CREDITORS

Amounts falling due within one year | 17 | 5,172,446 |  | 5,167,692 |  |

NET CURRENT LIABILITIES | (5,171,991 | ) | (5,166,951 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,054,606 |  | 4,521,625 |  |

CREDITORS

Amounts falling due after more than one year | 18 | (2,482,124 | ) | (2,977,409 | ) |

PROVISIONS FOR LIABILITIES | 21 | (195,150 | ) | (188,084 | ) |

NET ASSETS | 1,377,332 |  | 1,356,132 |  |

CAPITAL AND RESERVES

Called up share capital | 22 | 519,198 |  | 519,198 |  |

Share premium | 23 | 899,198 |  | 899,198 |  |

Capital redemption reserve | 23 | 29,173 |  | 29,173 |  |

Retained earnings | 23 | (70,237 | ) | (91,437 | ) |

SHAREHOLDERS' FUNDS | 1,377,332 |  | 1,356,132 |  |

Company's profit/(loss) for the financial year | 21,200 |  | (98,416 | ) |

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2026 and were signed on its behalf by:

P Geers - Director

Park Group Holdings Limited (Registered number: 05186236)

Consolidated Statement of Changes in Equity

for the Year Ended 31 December 2025

| Called up |  | Capital |

| share |  | Retained |  | Share |  | redemption |  | Total

| capital |  | earnings |  | premium |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1 January 2024 | 519,198 |  | 620,722 |  | 899,198 |  | 29,173 |  | 2,068,291 |  |

Changes in equity

Total comprehensive income | - |  | 55,510 |  | - |  | - |  | 55,510 |  |

Balance at 31 December 2024 | 519,198 |  | 676,232 |  | 899,198 |  | 29,173 |  | 2,123,801 |  |

Changes in equity

Total comprehensive income | - |  | (388,507 | ) | - |  | - |  | (388,507 | ) |

Balance at 31 December 2025 | 519,198 |  | 287,725 |  | 899,198 |  | 29,173 |  | 1,735,294 |  |

Park Group Holdings Limited (Registered number: 05186236)

Company Statement of Changes in Equity

for the Year Ended 31 December 2025

| Called up |  | Capital |

| share |  | Retained |  | Share |  | redemption |  | Total

| capital |  | earnings |  | premium |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1 January 2024 | 519,198 |  | 6,979 |  | 899,198 |  | 29,173 |  | 1,454,548 |  |

Changes in equity

Total comprehensive income | - |  | (98,416 | ) | - |  | - |  | (98,416 | ) |

Balance at 31 December 2024 | 519,198 |  | (91,437 | ) | 899,198 |  | 29,173 |  | 1,356,132 |  |

Changes in equity

Total comprehensive income | - |  | 21,200 |  | - |  | - |  | 21,200 |  |

Balance at 31 December 2025 | 519,198 |  | (70,237 | ) | 899,198 |  | 29,173 |  | 1,377,332 |  |

Park Group Holdings Limited (Registered number: 05186236)

Consolidated Cash Flow Statement

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,810,259 |  | 941,199 |  |

Interest paid | (80,802 | ) | (15,355 | ) |

Interest element of hire purchase payments paid | (361,911 | ) | (99,098 | ) |

Tax paid | (2,420 | ) | 82,065 |  |

Net cash from operating activities | 1,365,126 |  | 908,811 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (392,545 | ) | (483,755 | ) |

Purchase of tangible fixed assets | (253,522 | ) | (106,075 | ) |

Sale of tangible fixed assets | 827,075 |  | 1,265,127 |  |

Purchase of subsidiary | - |  | (503,245 | ) |

Cash acquired with subsidiary | - |  | 420,784 |  |

Interest received | 1,076 |  | 436 |  |

Net cash from investing activities | 182,084 |  | 593,272 |  |

Cash flows from financing activities

Capital repayments in year | (1,233,021 | ) | (1,080,122 | ) |

Intercompany loan | (460,183 | ) | (485,212 | ) |

Net cash from financing activities | (1,693,204 | ) | (1,565,334 | ) |

Decrease in cash and cash equivalents | (145,994 | ) | (63,251 | ) |

Cash and cash equivalents at beginning of year | 2 | 353,766 |  | 417,017 |  |

Cash and cash equivalents at end of year | 2 | 207,772 |  | 353,766 |  |

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 December 2025

1. | RECONCILIATION OF (LOSS)/PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| (Loss)/profit for the financial year | (388,507 | ) | 55,510 |  |

| Depreciation charges | 916,510 |  | 648,601 |  |

| Loss/(profit) on disposal of fixed assets | 24,986 |  | (159,970 | ) |

| Finance costs | 442,713 |  | 114,453 |  |

| Finance income | (1,076 | ) | (436 | ) |

| Taxation | (280,216 | ) | 90,647 |  |

714,410 |  | 748,805 |  |

| Decrease in stocks | 288,114 |  | 325,263 |  |

| (Increase)/decrease in trade and other debtors | (12,965 | ) | 492,983 |  |

| Increase/(decrease) in trade and other creditors | 820,700 |  | (625,852 | ) |

| Cash generated from operations | 1,810,259 |  | 941,199 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 December 2025

| 31.12.25 |  | 1.1.25

£ | £ |

| Cash and cash equivalents | 207,772 |  | 353,766 |  |

| Year ended 31 December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 353,766 |  | 417,017 |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.1.25 | Cash flow | At 31.12.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 353,766 |  | (145,994 | ) | 207,772 |  |

353,766 |  | (145,994 | ) | 207,772 |  |

| Debt

| Finance leases | (3,785,448 | ) | 1,233,021 |  | (2,552,427 | ) |

(3,785,448 | ) | 1,233,021 |  | (2,552,427 | ) |

| Total | (3,431,682 | ) | 1,087,027 |  | (2,344,655 | ) |

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Park Group Holdings 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.

| The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

| The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.

| Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.

| Basis of consolidation

| The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

| The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

| 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.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| Significant judgements and estimates

| Depreciation policies are determined based on the useful economic life of the assets to which they relate which are based on historical experience.

| Work in progress consists of labour, material, outwork and handling costs. The year end work in progress figure represents the time and materials consumed prior to the year end that are expected to be fully recovered on completion of the work. Where possible actual costs have been used at arriving at the work in progress balance.

| Trade debtors are provided against on a specific basis to the extent that they are considered

| irrecoverable. No general provisions are made against the trade debtor balance.

| No other significant judgements have been made in preparing these financial statements.

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

| Sale of goods

| Revenue from the sale of goods is recognised when all of the following conditions are satisfied:.

| - the Group has transferred the significant risks and rewards of ownership to the buyer;

| - the Group retains neither continuing managerial involvement to the degree usually

| associated with ownership nor effective control over the goods sold;

| - the amount of revenue can be measured reliably;

| - it is probable that the Company will receive the consideration due under the transaction, and

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Rendering of services

| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following

| conditions are satisfied:

| - the amount of revenue can be measured reliably;

| - it is probable that the Group will receive the consideration due under the contract;

| - the stage of completion of the contract at the end of the reporting period can be measured

| reliably, and

| - the costs incurred and the costs to complete the contract can be measured reliably.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

| Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life

| cannot be made, the useful life shall not exceed ten years.

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Depreciation is charged so as to allocate the cost of assets less their residual value over the estimated useful lives, using the straight-line method.

| Depreciation is provided on the following basis:

| Long-term leasehold property - 2%-20% Straight line

| Plant and machinery - 8%-33% Straight line

| Fixtures and fittings - 25%-33% 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 profit or loss.

| Stocks

| Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

| At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

| Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

| Financial instruments

| The Group only enters into basic financial instrument transactions that result in the recognition of

| financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

| 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 Group would receive for the asset if it were to be sold at the balance sheet date.

| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.

| Taxation

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

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 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 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.

| 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

| Operating leases: the Company as lessee

| Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the

| lease term.

| Benefits received and receivable as an incentive to sign an operating lease are recognised on a

| straight-line basis over the lease term, unless another systematic basis is representative of the time

| pattern of the lessee's benefit from the use of the leased asset.

| Leased assets: the Company as lessee

| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed

| assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company.

| Obligations under such agreements are included in creditors net of the finance charge allocated to

| future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

| Pension costs and other post-retirement benefits

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

| Valuation of investments

| Investments in subsidiaries are measured at cost less accumulated impairment. Where merger relief is applicable, the cost of the investment in a subsidiary undertaking is measured at the nominal value of the shares issued together with the fair value of any additional consideration paid

| Provisions for liabilities

| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

| Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

| When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

3. | TURNOVER

| The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 20,433,214 |  | 16,119,836 |  |

| Rest of Europe | 597,747 |  | 344,668 |  |

| Rest of the world | 990,268 |  | 413,040 |  |

22,021,229 |  | 16,877,544 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 6,200,645 |  | 4,731,476 |  |

| Social security costs | 622,481 |  | 428,159 |  |

| Other pension costs | 176,722 |  | 112,071 |  |

6,999,848 |  | 5,271,706 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Production | 100 |  | 71 |  |

| Administration | 12 |  | 12 |  |

| Distribution | 13 |  | 10 |  |

125 |  | 93 |  |

5. | DIRECTORS' EMOLUMENTS

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | - |  | - |  |

6. | OPERATING (LOSS)/PROFIT

| The operating loss (2024 - operating profit) is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 33,102 |  | 7,014 |  |

| Other operating leases | 10,985 |  | 28,611 |  |

| Depreciation - owned assets | 829,684 |  | 514,045 |  |

| Loss/(profit) on disposal of fixed assets | 24,986 |  | (159,970 | ) |

| Goodwill amortisation | 86,824 |  | 128,077 |  |

| Auditors' remuneration | 32,460 |  | 24,630 |  |

| Foreign exchange differences | 59,929 |  | (3,866 | ) |

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

7. | EXCEPTIONAL ITEMS

| 2025 |  | 2024

£ | £ |

| Exceptional items | (43,959 | ) | (57,133 | ) |

8. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest | 80,136 |  | 15,355 |  |

| Intercompany interest | 666 |  | - |  |

| Hire purchase | 361,911 |  | 99,098 |  |

442,713 |  | 114,453 |  |

9. | TAXATION

| Analysis of the tax (credit)/charge

| The tax (credit)/charge on the loss for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | (1,504 | ) | (37,972 | ) |

| Deferred tax | (278,712 | ) | 128,619 |  |

| Tax on (loss)/profit | (280,216 | ) | 90,647 |  |

| UK corporation tax has been charged at 25 % (2024 - 25 %).

| Reconciliation of total tax (credit)/charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| (Loss)/profit before tax | (668,723 | ) | 146,157 |  |

| (Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | (167,181 | ) | 36,539 |  |

| Effects of:

| Expenses not deductible for tax purposes | 12,594 |  | 15,996 |  |

| Income not taxable for tax purposes | (160,887 | ) | - |  |

| Capital allowances in excess of depreciation | - |  | (232,173 | ) |

| Depreciation in excess of capital allowances | 231,064 |  | - |  |

| Adjustments to tax charge in respect of previous periods | (1,504 | ) | (30 | ) |

| Short term timing difference | (280,247 | ) | 120,475 |  |

| Non-tax deductible amortisation of goodwill and impairment | 21,706 |  | 32,019 |  |

| Unrelieved tax losses carried forward | 64,239 |  | 155,773 |  |

| Losses carried back | - |  | (37,952 | ) |

| Total tax (credit)/charge | (280,216 | ) | 90,647 |  |

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

10. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.

11. | PRIOR YEAR ADJUSTMENT

| The following adjustment has been made to the financial statement lines in the comparatives of Park Communications Limited:

|  | Debit |  | Credit |  |

| £ |  | £ |  |

| Cost of sales |  | 1,410,501 |  |

| Sales |  |  | 1,410,501 |  |

| The adjustment relates to postage sales, historically shown net of postage costs. This adjustment to gross up the sales is a result of a change in accounting policy in 2025.

| The adjustment has no impact on profit

12. | INTANGIBLE FIXED ASSETS

| Group

| Goodwill

£ |

| COST

| At 1 January 2025 | 2,898,978 |  |

| Additions | 392,545 |  |

| At 31 December 2025 | 3,291,523 |  |

| AMORTISATION

| At 1 January 2025 | 2,423,286 |  |

| Amortisation for year | 86,824 |  |

| At 31 December 2025 | 2,510,110 |  |

| NET BOOK VALUE

| At 31 December 2025 | 781,413 |  |

| At 31 December 2024 | 475,692 |  |

| Goodwill arose on the aquisition of 100% of the share capital of Park Communications Limited in 2005, this goodwill has been fully amortised. The acquisition of Geoff Neal Litho Ltd on 31 October 2024 gave rise to goodwill which is being amortised over 10 years.

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

13. | TANGIBLE FIXED ASSETS

| Group

| Fixtures |

| Long |  | Plant and |  | and |

| leasehold |  | machinery |  | fittings |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2025 | 2,192,948 |  | 9,163,008 |  | 716,023 |  | 12,071,979 |  |

| Additions | - |  | 244,545 |  | 8,977 |  | 253,522 |  |

| Disposals | - |  | (1,432,824 | ) | (538,596 | ) | (1,971,420 | ) |

| At 31 December 2025 | 2,192,948 |  | 7,974,729 |  | 186,404 |  | 10,354,081 |  |

| DEPRECIATION

| At 1 January 2025 | 2,172,164 |  | 2,936,900 |  | 619,462 |  | 5,728,526 |  |

| Charge for year | 7,335 |  | 779,514 |  | 42,835 |  | 829,684 |  |

| Eliminated on disposal | - |  | (589,867 | ) | (529,492 | ) | (1,119,359 | ) |

| At 31 December 2025 | 2,179,499 |  | 3,126,547 |  | 132,805 |  | 5,438,851 |  |

| NET BOOK VALUE

| At 31 December 2025 | 13,449 |  | 4,848,182 |  | 53,599 |  | 4,915,230 |  |

| At 31 December 2024 | 20,784 |  | 6,226,108 |  | 96,561 |  | 6,343,453 |  |

| The net book value of assets held under finance leases or hire purchase contracts included above are £4,349,247 (2024 £4,744,118)

| Company

| Plant and

| machinery

£ |

| COST

| At 1 January 2025 | 4,388,294 |  |

| Additions | 56,399 |  |

| At 31 December 2025 | 4,444,693 |  |

| DEPRECIATION

| At 1 January 2025 | 145,206 |  |

| Charge for year | 518,378 |  |

| At 31 December 2025 | 663,584 |  |

| NET BOOK VALUE

| At 31 December 2025 | 3,781,109 |  |

| At 31 December 2024 | 4,243,088 |  |

| The net book value of assets held under finance leases or hire purchase contracts included above are £3,727,529 (2024 £4,243,088)

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

14. | FIXED ASSET INVESTMENTS

| Company

| Unlisted

| investments

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 5,445,488 |  |

| NET BOOK VALUE

| At 31 December 2025 | 5,445,488 |  |

| At 31 December 2024 | 5,445,488 |  |

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

| Subsidiaries

| Park Communications Limited

| Registered office: Alpine Way, London, E6 6LA

| Nature of business:

| %

| Class of shares: | holding |

| Ordinary Shares | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 6,280,152 |  | 6,205,820 |  |

| Profit for the year | 74,332 |  | 266,604 |  |

| Geoff Neal Litho Ltd

| Registered office:

| Nature of business:

| %

| Class of shares: | holding |

| Ordinary A shares | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 121,429 |  | 518,645 |  |

| (Loss)/profit for the year | (397,216 | ) | 15,400 |  |

| Geoff Neal Litho Limited was purchased by Park Communications Limited via a holding company, Pierco 2 Limited, on 31 October 2024. The 2024 profit above is from the date of acquisition. On 1 June 2025 the trade of Geoff Neal Litho Limited was hived up into Park Communications Limited and on 7 January 2026 100% of the share capital of Geoff Neal Litho Limited was sold to Park Communications Limited.

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

14. | FIXED ASSET INVESTMENTS - continued

| Pierco 2 Limited

| Registered office:

| Nature of business:

| %

| Class of shares: | holding |

| Ordinary A Shares | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 1,867,000 |  | 4,000,000 |  |

| On 31 October 2024 Park Communications Limited acquired 100% of the share capital of Geoff Neal Litho Limited, via a holding company, Pierco 2 Limited.

15. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Raw materials | 249,923 |  | 509,460 |  |

| Work-in-progress | 236,842 |  | 265,419 |  |

486,765 |  | 774,879 |  |

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

| Group |

2025 | 2024 |

£ | £ |

| Trade debtors | 3,725,921 |  | 3,317,207 |  |

| Amounts owed by group undertakings | 872,980 |  | 313,342 |  |

| Other debtors | 158,955 |  | 153,579 |  |

| Tax | - |  | 37,942 |  |

| VAT | 11,853 |  | 48,036 |  |

| Prepayments | 177,658 |  | 542,600 |  |

4,947,367 |  | 4,412,706 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Hire purchase contracts (see note 19) | 659,940 |  | 1,397,864 |  | 338,455 |  | 315,204 |  |

| Trade creditors | 3,056,243 |  | 3,427,586 |  | - |  | - |  |

| Amounts owed to group undertakings | 435,762 |  | 179,475 |  | 4,833,991 |  | 4,852,488 |  |

| Tax | - |  | 41,866 |  | - |  | - |  |

| Social security and other taxes | 339,656 |  | 153,985 |  | - |  | - |  |

| Other creditors | 1,589,374 |  | 580,428 |  | - |  | - |  |

| Accruals and deferred income | 622,981 |  | 625,555 |  | - |  | - |  |

6,703,956 |  | 6,406,759 |  | 5,172,446 |  | 5,167,692 |  |

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

| Included within other creditors are unpaid pension contributions of £26,400 (2024: £27,603).

| The current obligations under finance leases and hire purchase contracts are secured against the individual assets to which they relate.

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Hire purchase contracts (see note 19) | 1,892,487 |  | 2,387,584 |  | 1,854,362 |  | 2,192,817 |  |

| Amounts owed to group undertakings | 627,762 |  | 784,592 |  | 627,762 |  | 784,592 |  |

2,520,249 |  | 3,172,176 |  | 2,482,124 |  | 2,977,409 |  |

| The non-current obligation under finance leases and hire purchase contracts are secured against the individual assets to which they relate.

19. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 659,940 |  | 1,397,864 |  |

| Between one and five years | 1,624,455 |  | 1,688,093 |  |

| In more than five years | 268,032 |  | 699,491 |  |

2,552,427 |  | 3,785,448 |  |

| Company

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 338,455 |  | 315,204 |  |

| Between one and five years | 1,586,330 |  | 1,493,326 |  |

| In more than five years | 268,032 |  | 699,491 |  |

2,192,817 |  | 2,508,021 |  |

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

19. | LEASING AGREEMENTS - continued

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 863,387 |  | 863,387 |  |

| Between one and five years | 854,902 |  | 1,709,536 |  |

1,718,289 |  | 2,572,923 |  |

| The total expense in the Statement of Comprehensive Income in relation to operating leases was

| £872,101 ( 2024 £917,070)

20. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |

2025 | 2024 |

£ | £ |

| Financing of trade debtors | 1,449,454 |  | 213,835 |  |

| The hire purchase creditors are secured over the relevant assets.

| The financing of trade debtors is secured over the trade debtors and by a floating charge over the fixed and current assets.

21. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Deferred tax | 379,048 |  | 657,760 |  | 195,150 |  | 188,084 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 657,760 |  |

| Accelerated capital allowances | (273,816 | ) |

| Provisions | 1,535 |  |

| Losses carried forward | (6,431 | ) |

| Balance at 31 December 2025 | 379,048 |  |

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

21. | PROVISIONS FOR LIABILITIES - continued

| Company

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 188,084 |  |

| Provided during year | 7,066 |  |

| Balance at 31 December 2025 | 195,150 |  |

| Provisions are made where an event has taken place that gives the Group a legal or constructive

| obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

| Provisions are charged as an expense to profit or loss in the year that the Group becomes aware of

| the obligation, and are measured at the best estimate at the balance sheet date of the expenditure

| required to settle the obligation, taking into account relevant risks and uncertainties.

| When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

22. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: |  | as restated |

£ | £ |

| 455,848 | Ordinary A shares | 1 | 455,848 |  | 455,848 |  |

| 63,350 | Ordinary B Shares | 1 | 63,350 |  | 63,350 |  |

519,198 |  | 519,198 |  |

| The shares have attached to them full voting, dividend and capital distribution (including on winding up) rights.

23. | RESERVES

| Group

| Capital |

| Retained |  | Share |  | redemption |

| earnings |  | premium |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 January 2025 | 676,232 |  | 899,198 |  | 29,173 |  | 1,604,603 |  |

| Deficit for the year | (388,507 | ) | (388,507 | ) |

| At 31 December 2025 | 287,725 |  | 899,198 |  | 29,173 |  | 1,216,096 |  |

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

23. | RESERVES - continued

| Company

| Capital |

| Retained |  | Share |  | redemption |

| earnings |  | premium |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 January 2025 | (91,437 | ) | 899,198 |  | 29,173 |  | 836,934 |  |

| Profit for the year | 21,200 |  | 21,200 |  |

| At 31 December 2025 | (70,237 | ) | 899,198 |  | 29,173 |  | 858,134 |  |

| Profit and loss account

| The reserve records the accumulated profit and loss distributable to the shareholders, net of any due taxes and dividends declared and paid.

24. | PENSION COMMITMENTS

| The Company operates a defined contribution pension scheme for the benefit of all employees. The assets of the scheme are administered by trustees in a fund independent from those of the Company.

| The total contributions payable in the year amounted to £176,723 (2024: £104,835). The amount unpaid at 31 December 2025 was £26,300 (2024 £19,500).

25. | RELATED PARTY DISCLOSURES

| During the year a management fee of £311,019 (2024 £nil) was charged from Graphius Group BV, the ultimate parent company, to the group.

| During the year the group made sales of £6,950 (2024: £56,527) and purchased services of £228,126 (2024: £84,268) from Graphius NV, a company under common control, the transactions were made on normal third party arm's length commercial terms. At the year end £153,661 (2024 £nil) was owed to Graphius NV.

| During the year Park Communications Limited loaned monies totalling £485,000 to Geoff Neal Litho Limited ('GNL'), a subsidiary company, to meet various of the costs associated with winding down the activities of that company. Geoff Neal Litho Limited is not in a position to repay this loan and it is the intention of Graphius Group BV to repay this loan and other amounts owed to the company by GNL. These amounts total a balance of £451,408 at the balance sheet date. Since the balance date undertakings have been made by Graphius Group BV to repay this amount. During 2026 it is still the intention of the Directors to carry out an orderly wind up of Geoff Neal Litho Limited.

| At the balance sheet date £872,981 was owed to Park Communications Limited (2024: £309,097) by Graphius Group BV. £451,408 is in respect of the loan to GNL and £421,573 represents other balances due directly from Graphius Group BV.

| At 31 December 2025 the group owed Antilope De Bie NV, a member of the Graphius Group, £825,358 ( 2024 £964,068). Interest is being charged on the balance.

| During the year the group purchased services of £83,098 (2024: £nil) from Rembrandt Packaging NV, a company under common control, the transactions were made on normal third party arm's length commercial terms. At the year end £83,098 was owed to Rembrandt Packaging NV.

| During the year the group purchased services of £1,406 (2024: £nil) from Burocad NV, a company under common control, the transactions were made on normal third party arm's length commercial terms.At the year end £1,406 was owed to Burocad NV.

Park Group Holdings Limited (Registered number: 05186236)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 December 2025

26. | POST BALANCE SHEET EVENTS

| During 2026 the Directors intend to carry out an orderly wind up of Geoff Neal Litho Limited.

27. | ULTIMATE CONTROLLING PARTY

| The ultimate parent company is Graphius Group BV, a company incorporated and registered in Belgium, the company is under the control of P. Geers and D. Geers.

| Graphius Group consolidated accounts can be obtained from Traktaatweg 8, 9041 Gent, Belgium