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REGISTERED NUMBER: 03466459 (England and Wales)

| CLARITY LIMITED |

| STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |

| AUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31ST DECEMBER 2025 |

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31st December 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 5 |

| Report of the Independent Auditor | 7 |

| Income Statement | 11 |

| Other Comprehensive Income | 12 |

| Balance Sheet | 13 |

| Statement of Changes in Equity | 14 |

| Cash Flow Statement | 15 |

| Notes to the Cash Flow Statement | 16 |

| Notes to the Financial Statements | 17 |

| CLARITY LIMITED |

COMPANY INFORMATION

for the year ended 31st December 2025

| DIRECTORS: | A G G Jones

| K J Jones

| G J Bolton

| G I G Jones

| P J Collier

| C Gibson

| SECRETARY: | C Gibson

| REGISTERED OFFICE: | 1 Crown Square

| Woking

| Surrey

| GU21 6HR

| REGISTERED NUMBER: | 03466459 (England and Wales)

| AUDITOR: | Shaw Gibbs Audit Ltd

| Wey Court West

| Union Road

| Farnham

| Surrey

| GU97PT

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

STRATEGIC REPORT

for the year ended 31st December 2025

The directors present their strategic report for the year ended 31st December 2025.

PRINCIPAL ACTIVITY AND BUSINESS MODEL

Clarity Limited is an FCA-authorised firm of independent financial advisers which also provides discretionary investment management services to its clients. The company earns income principally from ongoing advice and service fees and from investment management charges, a significant proportion of which is linked to the value of client assets under management.

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

STRATEGIC REPORT

for the year ended 31st December 2025

REVIEW OF BUSINESS

The directors consider the company's performance during the year to have been satisfactory. Turnover increased by 3.0% to £7,283,052 (2024: £7,071,742), reflecting continued growth in recurring advice and investment management income and a broadly stable client base. The principal driver of the company's profitability is the level of funds under management.

Reported operating profit was £1,997,150 (2024: £2,451,640). This is stated after exceptional costs of £356,111 (2024: £nil) incurred in connection with the establishment of the Employee Ownership Trust described below. Before those exceptional items, underlying operating profit was £2,353,261 (2024: £2,451,640), a reduction of 4.0% which reflects continued investment in staff and infrastructure. Profit before taxation was £2,139,059 (2024: £2,923,689); the prior year benefited from higher income from the company's joint venture interest and higher deposit interest. Excluding the exceptional costs, the directors consider the underlying performance of the business to have been in line with their expectations.

Overheads remained well controlled during the year. The company remains profitable, cash-generative and debt-free. Net assets at the 31 December 2025 were £1,244,540 (2024: £3,272,271) and cash at bank was £2,060,785 (2024: £3,560,107). The reduction in both measures principally reflects dividends of £3,500,000 paid during the year. The company maintained capital resources comfortably above its regulatory requirements throughout the year, and the directors are satisfied that it retains sufficient regulatory capital and working capital to meet its obligations as they fall due.

clarityHORIZONS

In addition to its private client advice and investment management business, the company operates clarityHORIZONS, a corporate division which designs, operates and supports employee benefit and retirement technology for large corporate employers. The company provides a suite of online portals - including the Web Benefit Form, My Benefit Portal and My Retirement Portal - together with associated administration and project services. The services are provided under multi-year contracts comprising defined initial terms followed by annual renewal, with fees subject to annual uplifts linked to inflation. Income from clarityHORIZONS amounted to approximately £439,000 in the year (2024: approximately £437,000), and the proposition was extended during the year through the addition of a new service component. The directors are progressing proposals for further modules with the client during 2026 and continue to evaluate options for the future development of the division.

TRANSITION TO EMPLOYEE OWNERSHIP

On 2nd October 2025 the entire issued share capital of the company was acquired by Clarity (EOT) Limited, the corporate trustee of the Clarity Employee Ownership Trust, which now holds the shares for the long-term benefit of the company's employees. The directors believe that employee ownership provides a stable, independent ownership structure that aligns the interests of colleagues with the long-term success of the business, supports the retention of key personnel and reinforces the company's culture of client service. During the year a tax-free Employee Ownership Trust bonus was paid to all eligible employees, other than the statutory directors. Further details of the transaction are set out in the notes to the financial statements.

KEY PERFORMANCE INDICATORS

The directors monitor the company's progress against a range of financial measures, the principal of which are set out below.

| 2025 |  | 2024 |  |

Turnover |  | £7,283,052 |  | £7,071,742 |  |

Operating profit before exceptional items |  | £2,353,261 |  | £2,451,640 |  |

Operating profit (reported) |  | £1,997,150 |  | £2,451,640 |  |

Profit before taxation |  | £2,139,059 |  | £2,923,689 |  |

Profit for the financial year |  | £1,472,269 |  | £2,272,270 |  |

Shareholders' funds |  | £1,244,540 |  | £3,272,271 |  |

Cash at bank |  | £2,060,785 |  | £3,560,107 |  |

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

STRATEGIC REPORT

for the year ended 31st December 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have identified the following principal risks and uncertainties affecting the company. The directors regard market risk, heightened by the political and legislative uncertainty described below, as the most significant risk facing the company.

- Market risk. The company's most significant risk arises from its exposure to investment markets. A significant proportion of the company's income is derived from charges linked to the value of client funds under management. A sustained fall in markets therefore reduces the company's income directly and, by affecting client confidence and outcomes, increases the likelihood of clients being lost; conversely, rising markets increase income and support client retention. The company manages this exposure through a diversified client base, a balanced mix of advice and ongoing service income, and active management of client portfolios.

- Political and legislative risk. Changes in government policy and fiscal legislation can materially affect demand for the company's services and the level of funds under management. In particular, the inclusion of most unused pension funds and pension death benefits within the value of a person's estate for inheritance tax purposes, enacted by the Finance Act 2026 for deaths on or after 6th April 2027, has increased uncertainty for clients and is expected to prompt some clients to withdraw or draw down pension funds earlier than they otherwise would, reducing funds under management and the associated income. The directors monitor policy developments closely and respond through proactive client advice and planning.

- Regulatory and compliance risk. The company operates in a highly regulated sector and is subject to ongoing regulatory change, including the FCA Consumer Duty and the MIFIDPRU prudential regime. The risk is managed through a dedicated compliance function, approved persons holding the relevant senior management functions, ongoing monitoring and the maintenance of professional indemnity insurance.

- Operational and technology risk. The company relies on third-party investment platforms and IT systems. During 2026 the company is migrating its principal platform arrangements, and this transition is overseen through formal project governance, testing and supplier oversight to maintain continuity of client service.

- Credit and liquidity risk. The company holds cash reserves and monitors trade receivables. The directors prepare regular cash flow forecasts to ensure the company can meet its liabilities as they fall due and meet its regulatory capital requirements at all times.

- Customer concentration. A meaningful proportion of the company's corporate-division income is derived from a single major client. This risk is managed through long-term contractual arrangements, service quality, and the diversification provided by the company's wider private client base.

- People risk. The company's success depends on the expertise and continuity of its advisers and management team. The transition to employee ownership is expected to support recruitment and retention.

- Employee ownership funding. Following the sale to the Employee Ownership Trust, the deferred consideration payable to the former shareholders is being funded solely from the company's future post-tax profits, with no external financing introduced or anticipated. The directors monitor the company's ability to support these distributions whilst maintaining adequate regulatory capital and working capital.

FUTURE DEVELOPMENTS

The directors expect the current level of activity and profitability to continue for the foreseeable future. The company will continue to invest in its people, technology and client proposition, and to embed its new employee-ownership structure.

ON BEHALF OF THE BOARD:

C Gibson - Director

20th August 2026

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

REPORT OF THE DIRECTORS

for the year ended 31st December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of independent financial advisers.

The results for the year and the financial position at the year end were considered satisfactory by the directors who expect continued growth in the foreseeable future.

DIVIDENDS

The directors paid interim ordinary dividends amounting to £3,500,000. No final dividends have been proposed.

FUTURE DEVELOPMENTS

The current level of activity and profitability is expected to continue for the foreseeable future.

DIRECTORS

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

A G G Jones

K J Jones

G J Bolton

G I G Jones

P J Collier

C Gibson

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the 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 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 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 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.

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 company's auditor is unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

REPORT OF THE DIRECTORS

for the year ended 31st December 2025

AUDITOR

The auditors, Shaw Gibbs Audit Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C Gibson - Director

20th August 2026

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF

CLARITY LIMITED

Opinion

We have audited the financial statements of Clarity Limited (the 'company') for the year ended 31st December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31st December 2025 and of its profit 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 Auditor 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 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 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 Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditor 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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF

CLARITY LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; 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.

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

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 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 have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF

CLARITY LIMITED

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 Auditor 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- |  | the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |

- |  | we identified those laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector; |

- |  | we focused on specific significant laws and regulations which we considered were more likely to have a direct material effect on the financial statements or the operations of the company, notably compliance with FCA regulations, the Companies Act 2006, taxation, anti-bribery, employment, environmental and health and safety legislation; |

- |  | we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting the accounting records and legal correspondence; and |

- |  | identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- |  | making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |

- |  | considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |

To address the risk of fraud through management bias and override of controls, we:

- |  | performed analytical procedures to identify any unusual or unexpected relationships; |

- |  | tested journal entries to identify unusual transactions: |

- |  | assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |

- |  | investigated the rationale behind significant or unusual transactions. |

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- |  | agreeing financial statement disclosures to underlying supporting documentation: |

- |  | reading the minutes of meetings of those charged with governance; |

- |  | enquiring of management as to actual and potential litigation and claims; and |

- |  | reviewing correspondence with HMRC, relevant regulators where applicable, and the company's professional advisors. |

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Auditor.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF

CLARITY 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 Auditor 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.

Charlotte Anderson (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs Audit Ltd

Wey Court West

Union Road

Farnham

Surrey

GU97PT

20th August 2026

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

INCOME STATEMENT

for the year ended 31st December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

TURNOVER | 7,283,052 |  | 7,071,742 |  |

Administrative expenses | 5,285,902 |  | 4,620,102 |  |

OPERATING PROFIT | 4 | 1,997,150 |  | 2,451,640 |  |

Income from participating interests | 41,470 |  | 328,142 |  |

Interest receivable and similar income | 100,439 |  | 143,907 |  |

|  | 141,909 |  |  |  | 472,049 |  |

PROFIT BEFORE TAXATION | 2,139,059 |  | 2,923,689 |  |

Tax on profit | 6 | 666,790 |  | 651,419 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,472,269 |  | 2,272,270 |  |

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

OTHER COMPREHENSIVE INCOME

for the year ended 31st December 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,472,269 |  | 2,272,270 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,472,269 |  | 2,272,270 |  |

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

BALANCE SHEET

31st December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 34,914 |  | 25,604 |  |

Investments | 9 | 239,823 |  | 239,823 |  |

274,737 |  | 265,427 |  |

CURRENT ASSETS

Debtors | 10 | 954,869 |  | 996,413 |  |

Cash at bank | 2,060,785 |  | 3,560,107 |  |

3,015,654 |  | 4,556,520 |  |

CREDITORS

Amounts falling due within one year | 11 | 2,045,851 |  | 1,549,676 |  |

NET CURRENT ASSETS | 969,803 |  | 3,006,844 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,244,540 |  | 3,272,271 |  |

CAPITAL AND RESERVES

Called up share capital | 13 | 10,985 |  | 10,985 |  |

Share premium | 14 | 42,533 |  | 42,533 |  |

Retained earnings | 14 | 1,191,022 |  | 3,218,753 |  |

1,244,540 |  | 3,272,271 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 20th August 2026 and were signed on its behalf by:

C Gibson - Director

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

STATEMENT OF CHANGES IN EQUITY

for the year ended 31st December 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1st January 2024 | 10,985 |  | 2,858,667 |  | 42,533 |  | 2,912,185 |  |

Changes in equity

Dividends | - |  | (1,912,184 | ) | - |  | (1,912,184 | ) |

Total comprehensive income | - |  | 2,272,270 |  | - |  | 2,272,270 |  |

Balance at 31st December 2024 | 10,985 |  | 3,218,753 |  | 42,533 |  | 3,272,271 |  |

Changes in equity

Dividends | - |  | (3,500,000 | ) | - |  | (3,500,000 | ) |

Total comprehensive income | - |  | 1,472,269 |  | - |  | 1,472,269 |  |

Balance at 31st December 2025 | 10,985 |  | 1,191,022 |  | 42,533 |  | 1,244,540 |  |

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

CASH FLOW STATEMENT

for the year ended 31st December 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,542,810 |  | 2,470,532 |  |

Tax paid | (650,001 | ) | (307,274 | ) |

Net cash from operating activities | 1,892,809 |  | 2,163,258 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (34,040 | ) | (10,517 | ) |

Interest received | 100,439 |  | 143,907 |  |

Dividends received | 41,470 |  | 328,142 |  |

Net cash from investing activities | 107,869 |  | 461,532 |  |

Cash flows from financing activities

Equity dividends paid | (3,500,000 | ) | (1,912,184 | ) |

Net cash from financing activities | (3,500,000 | ) | (1,912,184 | ) |

(Decrease)/increase in cash and cash equivalents | (1,499,322 | ) | 712,606 |  |

Cash and cash equivalents at beginning of year | 2 | 3,560,107 |  | 2,847,501 |  |

Cash and cash equivalents at end of year | 2 | 2,060,785 |  | 3,560,107 |  |

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

NOTES TO THE CASH FLOW STATEMENT

for the year ended 31st December 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 2,139,059 |  | 2,923,689 |  |

| Depreciation charges | 24,731 |  | 36,734 |  |

| Finance income | (141,909 | ) | (472,049 | ) |

2,021,881 |  | 2,488,374 |  |

| Decrease/(increase) in trade and other debtors | 34,661 |  | (180,305 | ) |

| Increase in trade and other creditors | 486,268 |  | 162,463 |  |

| Cash generated from operations | 2,542,810 |  | 2,470,532 |  |

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 31st December 2025

| 31.12.25 |  | 1.1.25

£ | £ |

| Cash and cash equivalents | 2,060,785 |  | 3,560,107 |  |

| Year ended 31st December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 3,560,107 |  | 2,847,501 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.1.25 | Cash flow | At 31.12.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 3,560,107 |  | (1,499,322 | ) | 2,060,785 |  |

3,560,107 |  | (1,499,322 | ) | 2,060,785 |  |

| Total | 3,560,107 |  | (1,499,322 | ) | 2,060,785 |  |

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31st December 2025

1. | STATUTORY INFORMATION

| Clarity 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 Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| In the current year, the company has applied the full disclosure requirements of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” and Companies Act 2006, having previously applied Section 1A "Small Entities".

| The change has resulted in enhanced disclosures within the financial statements. There has been no change to the accounting policies applied for recognition and measurement and therefore no impact on profit, total equity or cash flows for the current or prior periods.

| Turnover

| Income is recognised net of VAT as follows:

| - |  | Fee income is recognised in the period to which it relates. |

| - |  | Investment management income is recognised in the period to which it relates. |

| Tangible fixed assets

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

| Short leasehold | - | Straight line over the life of the lease

| Office equipment | - | Straight line over 3 years

| Fixtures and fittings | - | Straight line over the life of the lease

| The company has a policy for capitalising computer equipment costing > £1,500, anything less is expensed.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| 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.

| Pension costs and other post-retirement benefits

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

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31st December 2025

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 3,021,928 |  | 2,818,640 |  |

| Social security costs | 397,628 |  | 323,239 |  |

| Other pension costs | 332,303 |  | 304,147 |  |

3,751,859 |  | 3,446,026 |  |

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

| 2025 |  | 2024

| Directors | 6 |  | 6 |  |

| Employees | 42 |  | 40 |  |

48 |  | 46 |  |

| The company makes defined contributions into the employees personal pension plans.

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 765,319 |  | 773,081 |  |

| Directors' pension contributions to money purchase schemes | 65,863 |  | 77,462 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 249,570 |  | 263,106 |  |

| Pension contributions to money purchase schemes | 15,012 |  | 15,013 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 24,730 |  | 36,733 |  |

| Auditors' remuneration | 11,500 |  | 9,760 |  |

5. | EXCEPTIONAL COSTS

|  | 2025 |  | 2024 |  |

| £ |  | £ |  |

| Exceptional costs |  | 356,111 |  | - |  |

| During the year ended 31 December 2025, the company incurred Transactional and Advisory costs of £356,111 (2024: £NIL). These costs incurred in establishing an Employee Ownership Trust and more details are contained in Note 15.

| The charges have been classified as exceptional due to their materiality and because they do not reflect the company's underlying trading performance.

| Further details of the transaction, including the involvement of related parties, are provided in Note 15.

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31st December 2025

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 609,907 |  | 656,524 |  |

| Prior year tax adjustment | 50,000 |  | - |  |

| Total current tax | 659,907 |  | 656,524 |  |

| Deferred tax | 6,883 |  | (5,105 | ) |

| Tax on profit | 666,790 |  | 651,419 |  |

7. | DIVIDENDS

| £ |  | £ |  |

| Ordinary shares of 1 each |  |

| Interim |  | 3,500,000 |  | 1,912,184 |  |

8. | TANGIBLE FIXED ASSETS

| Fixtures |

| Short |  | Office |  | and |

| leasehold |  | equipment |  | fittings |  | Totals

£ | £ | £ | £ |

| COST

| At 1st January 2025 | 139,075 |  | 44,010 |  | 51,063 |  | 234,148 |  |

| Additions | - |  | 34,040 |  | - |  | 34,040 |  |

| Disposals | - |  | (6,693 | ) | - |  | (6,693 | ) |

| At 31st December 2025 | 139,075 |  | 71,357 |  | 51,063 |  | 261,495 |  |

| DEPRECIATION

| At 1st January 2025 | 132,315 |  | 35,566 |  | 40,663 |  | 208,544 |  |

| Charge for year | 6,760 |  | 12,161 |  | 5,809 |  | 24,730 |  |

| Eliminated on disposal | - |  | (6,693 | ) | - |  | (6,693 | ) |

| At 31st December 2025 | 139,075 |  | 41,034 |  | 46,472 |  | 226,581 |  |

| NET BOOK VALUE

| At 31st December 2025 | - |  | 30,323 |  | 4,591 |  | 34,914 |  |

| At 31st December 2024 | 6,760 |  | 8,444 |  | 10,400 |  | 25,604 |  |

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31st December 2025

9. | FIXED ASSET INVESTMENTS

| Interest

| in joint

| venture

£ |

| COST

| At 1st January 2025

| and 31st December 2025 | 239,823 |  |

| NET BOOK VALUE

| At 31st December 2025 | 239,823 |  |

| At 31st December 2024 | 239,823 |  |

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

| Joint venture

| MDRclarity Ltd

| Registered office: 1 Crown Square, Woking, Surrey, GU21 6HR

| Nature of business: To introduce clients to Clarity Ltd

| %

| Class of shares: | holding |

| Ordinary | 51.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 89,415 |  | 81,331 |  |

| Profit for the year | 89,398 |  | 81,314 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 311,288 |  | 246,322 |  |

| Deferred tax | 21,222 |  | 28,105 |  |

| Prepayments and accrued income | 622,359 |  | 721,986 |  |

954,869 |  | 996,413 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 35,905 |  | 36,878 |  |

| Amounts owed to participating interests | 22,552 |  | 19,105 |  |

| Tax | 316,432 |  | 306,525 |  |

| Social security and other taxes | 86,595 |  | 75,100 |  |

| VAT | 97,816 |  | 73,375 |  |

| Other creditors | 122,037 |  | 114,236 |  |

| Accruals and deferred income | 1,364,514 |  | 924,457 |  |

2,045,851 |  | 1,549,676 |  |

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31st December 2025

12. | LEASING AGREEMENTS

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

2025 | 2024 |

£ | £ |

| Within one year | 66,350 |  | 44,264 |  |

| Between one and five years | 5,453 |  | 71,803 |  |

71,803 |  | 116,067 |  |

13. | CALLED UP SHARE CAPITAL

| Allotted issued and fully paid:

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

| £ |  | £ |  | £ |  |

| 10,985 |  | Ordinary |  | 1.00 |  | 10,985 |  |

| 8,745 |  | A |  | 1.00 |  |  | 8,745 |  |

| 500 |  | B |  | 1.00 |  |  | 500 |  |

| 1,740 |  | C |  | 1.00 |  |  | 1,740 |  |

|  | 10,985 |  | 10,985 |  |

| During the year, all issued shares in the Company were acquired by Clarity (EOT) Limited. As part of this transaction, the existing A, B and C share classes were reclassified as Ordinary Shares. Accordingly, the composition of share capital at the year end differs from that disclosed in the prior year accounts (2024), reflecting the reclassification of shares rather than the issue of new shares.

14. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1st January 2025 | 3,218,753 |  | 42,533 |  | 3,261,286 |  |

| Profit for the year | 1,472,269 |  | 1,472,269 |  |

| Dividends | (3,500,000 | ) | (3,500,000 | ) |

| At 31st December 2025 | 1,191,022 |  | 42,533 |  | 1,233,555 |  |

| During the year the company paid an interim dividend of £3,500,000 (2024: £1,912,184). Following completion of the transaction described in Note 15, Clarity (EOT) Limited became the company's sole shareholder.

| CLARITY LIMITED (REGISTERED NUMBER: 03466459) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31st December 2025

15. | RELATED PARTY DISCLOSURES

| The company owns 51% of MDRclarity Ltd, a joint venture which it shares with a law firm, and during the financial year under the terms of this arrangement, it received a total of £478,771 (2024: £433,697 ) which in turn it passed on to the joint venture, and has charged service fees of £359,078 (2024: £325,273). The company received dividends of £41,470 from MDRclarity Ltd during the financial year (2024: £328,142), and at the balance sheet date, the amount payable to MDRclarity Ltd was £22,552 (2024: £19,105).

| On 2nd October 2025 the entire issued share capital of the company was acquired by Clarity (EOT) Limited, the corporate trustee of the Clarity Employee Ownership Trust, from the company's then shareholders, each of whom is also a director of the company. The consideration was determined by reference to an independent valuation, which the directors consider to represent fair value. An initial amount was settled on completion, with the balance payable to the former shareholders as deferred consideration. The obligation to pay the deferred consideration rests with Clarity (EOT) Limited as trustee and does not represent a liability of the company. The former shareholders remain employed by, and continue to serve as directors of, the company, and the transaction has accordingly been disclosed as a related party transaction.

| Following completion, the company is controlled by Clarity (EOT) Limited in its capacity as trustee of the Clarity Employee Ownership Trust, which holds the shares for the benefit of the company's employees. In the opinion of the directors there is no single ultimate controlling party.