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Arper UK Limited

Abridged Financial Statements

for the financial year ended 31 December 2025

Arper UK Limited

DIRECTORS' REPORT

for the financial year ended 31 December 2025

The directors present their report and the audited financial statements for the financial year ended 31 December 2025.

Principal Activity

The principal activity of the company during the year was the retail of designer furniture.

Results and Dividends

The loss for the financial year after providing for depreciation amounted to £(342,510) (2024 - £(325,829)).

Directors

The directors who served during the financial year are as follows:

Sandro Bartoletti

Pietro Marini

Claudio Feltrin (Appointed 8 January 2025)

Roberto Francesco Monti (Resigned 8 January 2025)

There were no changes in shareholdings between 31 December 2025 and the date of signing the financial statements.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report 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) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: -select suitable accounting policies and 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditor Each persons who are directors at the date of approval of this report confirms that: In so far as the directors are aware: -there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and -the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Auditors

The auditors, Clinton Higgins, (Chartered Accountants) have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

Pietro Marini

Director

29 June 2026

INDEPENDENT AUDITOR'S REPORT

to the Shareholders of Arper UK Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Arper UK Limited ('the company') for the financial year ended 31 December 2025 which comprise the Abridged Income Statement, the Abridged Balance Sheet, the Statement of Changes in Equity and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities).

In our opinion the financial statements: -give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the financial 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 the Provisions Available for Audits of Small Entities, in the circumstances set out in Note 4 to the financial statements, 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. Our evaluation of the director's assessment of the company's ability to continue to adopt the going concern basis of accounting included considering the inherent risks to the company's business model and analysing how those risks might affect the company's financial resources or ability to continue operations over the going concern period.

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 company's ability to continue as a going concern for a period of at least twelve months from the date 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 other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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.

Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- | the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Directors' Report.

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; or
- | the 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; or
- | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the Directors' Report.

Responsibilities of directors for the financial statements

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 they determine is 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 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 company or to cease operations, or has no realistic alternative but to do so.

Auditor's 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 an Auditor's Report 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.

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 obtained an understanding of the legal and regulatory framework applicable to the company through enquiry of management, industry research and the application of cumulative audit knowledge. We identified the following principal laws and regulations relevant to the company - Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). We developed an understanding of the key fraud risks to the entity (including how fraud might occur), the controls in place to help mitigate those risks, and the accounts balances and disclosures within the financial statements which may be susceptible to management bias. Our understanding was obtained through review of the financial statements for significant accounting estimates, analysis of journal entries, walkthrough of the key control cycles in place and enquiry of management. Our procedures to respond to those risks identified included, but were not limited to: - Enquiry of management and those charged with governance around actual and potential litigation claims. - Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations. - Reviewing minutes of meetings of those charged with governance. - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. - Auditing the risk of management override of controls, including through testing of journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.

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 an auditor's report 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.

Niall Clinton (Senior Statutory Auditor)

for and on behalf of

CLINTON HIGGINS

Chartered Accountants and Statutory Auditor

Trident House

Dublin Road

Naas

Co. Kildare

W91 VY6W

Ireland

29 June 2026

Arper UK Limited

APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

- | Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- | Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

- | Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors'.

- | Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.

- | Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Arper UK Limited

ABRIDGED INCOME STATEMENT

for the financial year ended 31 December 2025

|  | 2025 |  | 2024
| Notes | £ |  | £

Gross profit |  | 313,088 |  | 334,999
Administrative expenses |  | (696,998) |  | (733,330)
Other operating income |  | 41,400 |  | 72,502
|  | ───────── |  | ─────────
Loss before taxation |  | (342,510) |  | (325,829)
Tax on loss |  | - |  | -
|  | ───────── |  | ─────────
Loss for the financial year |  | (342,510) |  | (325,829)
|  | ───────── |  | ─────────
Total comprehensive income |  | (342,510) |  | (325,829)
|  | ═════════ |  | ═════════

Arper UK Limited

Company Registration Number: 10084570

ABRIDGED BALANCE SHEET

as at 31 December 2025

|  |  | 2025 |  | 2024
|  | Notes | £ |  | £
Fixed Assets

Tangible assets |  | 7 | 4,039,722 |  | 4,211,734
|  |  | ───────── |  | ─────────
Current Assets

Stocks |  |  | 90,780 |  | 124,760
Debtors |  |  | 463,207 |  | 210,701
Cash and cash equivalents |  |  | 106,161 |  | 70,712
|  |  | ───────── |  | ─────────
|  |  | 660,148 |  | 406,173
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  |  | (1,569,858) |  | (1,145,385)
|  |  | ───────── |  | ─────────
Net Current Liabilities |  |  | (909,710) |  | (739,212)
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 3,130,012 |  | 3,472,522
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 5,000,000 |  | 5,000,000
Share premium account |  | 8 | 511,414 |  | 511,414
Retained earnings |  |  | (2,381,402) |  | (2,038,892)
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 3,130,012 |  | 3,472,522
|  |  | ═════════ |  | ═════════
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

Approved by the Board and authorised for issue on 29 June 2026 and signed on its behalf by

Pietro Marini |  |  |  |  |
Director |  |  |  |  |

Arper UK Limited

STATEMENT OF CHANGES IN EQUITY

as at 31 December 2025

| Called up | Share | Retained | Total
| share | premium | earnings |
| capital | account |  |
| £ | £ | £ | £
At 1 January 2024 | 5,000,000 | 511,414 | (1,713,063) | 3,798,351
| ───────── | ───────── | ───────── | ─────────
Loss for the financial year | - | - | (325,829) | (325,829)
| ───────── | ───────── | ───────── | ─────────
At 31 December 2024 | 5,000,000 | 511,414 | (2,038,892) | 3,472,522
| ───────── | ───────── | ───────── | ─────────
Loss for the financial year | - | - | (342,510) | (342,510)
| ───────── | ───────── | ───────── | ─────────
At 31 December 2025 | 5,000,000 | 511,414 | (2,381,402) | 3,130,012
| ═════════ | ═════════ | ═════════ | ═════════

Arper UK Limited

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

for the financial year ended 31 December 2025

1. | General Information
| Arper UK Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 10084570. The registered office of the company is 11 Clerkenwell Road, London, EC1M 5PA which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the financial year ended 31 December 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Revenue
| 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 Company has transferred the significant risks and rewards of ownership to the buyer; - the Company 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.
| Tangible assets and depreciation
| Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
|  | Long leasehold | - | 3% Straight line
|  | Fixtures and fittings | - | 20% Straight line
|  | Computer equipment | - | 20% 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 the Income Statement.
| Stocks
| Stocks are valued at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying value amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Employee benefits
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.
| Taxation and deferred taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
| Government grants
| Revenue grants are credited to the Income Statement when received.
| Foreign currencies
| Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
| Ordinary share capital
| The ordinary share capital of the company is presented as equity.

3. | Going concern
| The directors have considered the company’s financial position and its ability to continue as a going concern. The company incurred a net loss of £342,510 during the year ended 31 December 2025 and at that date, there were net current liabilities of £909,712 and net assets of £€3,130,012. However, the parent company has confirmed that it will continue to provide financial support to enable the company to meet its liabilities as they fall due and has indicated that this support will not cease in the foreseeable future, being at least twelve months from the date of approval of these financial statements. Having made due enquiries and having considered the factors described above, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

4. | Provisions Available for Audits of Small Entities
| In common with many other businesses of our size and nature, we use our auditors to assist with the preparation of the financial statements.

5. | Employees
| The average monthly number of employees, including directors, during the financial year was 6, (2024 - 6).
|  | 2025 | 2024
|  | Number | Number
| Sales and administration | 6 | 6
|  | ═════════ | ═════════

6. | Intangible assets
|  | Development
|  | Costs
|  | £
| Cost
| At 1 January 2025 | 3,435
|  | ─────────
| At 31 December 2025 | 3,435
|  | ─────────
| Amortisation
| At 31 December 2025 | 3,435
|  | ─────────
| Net book value
| At 31 December 2025 | -
|  | ═════════

7. | Tangible assets
|  | Long | Fixtures | Computer | Total
|  | leasehold | and fittings | equipment |
|  | £ | £ | £ | £
| Cost
| At 1 January 2025 | 5,570,000 | 3,705 | 31,612 | 5,605,317
| Additions | - | - | 875 | 875
| Disposals | - | - | (665) | (665)
|  | ───────── | ───────── | ───────── | ─────────
| At 31 December 2025 | 5,570,000 | 3,705 | 31,822 | 5,605,527
|  | ───────── | ───────── | ───────── | ─────────
| Depreciation
| At 1 January 2025 | 1,365,718 | 3,705 | 24,160 | 1,393,583
| Charge for the financial year | 170,715 | - | 2,172 | 172,887
| On disposals | - | - | (665) | (665)
|  | ───────── | ───────── | ───────── | ─────────
| At 31 December 2025 | 1,536,433 | 3,705 | 25,667 | 1,565,805
|  | ───────── | ───────── | ───────── | ─────────
| Net book value
| At 31 December 2025 | 4,033,567 | - | 6,155 | 4,039,722
|  | ═════════ | ═════════ | ═════════ | ═════════
| At 31 December 2024 | 4,204,282 | - | 7,452 | 4,211,734
|  | ═════════ | ═════════ | ═════════ | ═════════

8. | Reserves
| Share Premium Reserve
| The amount carried forward is the premium that arose from the issue of shares in 2016.

9. | Capital commitments
| The company had no material capital commitments at the financial year-ended 31 December 2025.

10. | Parent company
| The company regards Arper S.p.A. as its parent company.
| The parent of the largest group in which the results are consolidated is Arper S.p.A. and these financial statements can be found at their registered address of Via Lombardia, 16 - Monastier di Treviso (Treviso - Italy).
| Arper S.p.A. is a company registered in Italy.

11. | Controlling interest
| The ultimate controlling party is Claudio Feltrin.

12. | Post-Balance Sheet Events
| There have been no significant events affecting the company since the financial year-end.