West Lancaster Investments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles

24%

2.3. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.4.

Preparation of consolidated financial statements

The financial statements contain information about West Lancaster Investments Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

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

...CONTINUED

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West Lancaster Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.4. - continued

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 Euro at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

2.5. Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group

companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Tangible Assets

	Motor Vehicles
	€
Cost
As at 1 January 2025	64,600

As at 31 December 2025	64,600

Depreciation
As at 1 January 2025	64,600

As at 31 December 2025	64,600

...CONTINUED

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West Lancaster Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Net Book Value
As at 31 December 2025	-

As at 1 January 2025	-

5. Investments

	Subsidiaries	Associates	Unlisted	Other	Total
	€	€	€	€	€
Cost or Valuation
As at 1 January 2025	445,992	5,000	2,591,500	6,196,172	9,238,664
Additions	-	-	-	1,160,000	1,160,000
Disposals	-	-	(1,500 )	-	(1,500 )

As at 31 December 2025	445,992	5,000	2,590,000	7,356,172	10,397,164

Provision
As at 1 January 2025	-	-	-	-	-

As at 31 December 2025	-	-	-	-	-

Net Book Value
As at 31 December 2025	445,992	5,000	2,590,000	7,356,172	10,397,164

As at 1 January 2025	445,992	5,000	2,591,500	6,196,172	9,238,664

Subsidiaries

Luxury Srl

Registered Office :

Nature of Business :

Class of Shares: Ordinary

Percentage100%	2025	2024
	Euro	Euro
Aggregate capital and Reserve	137,741	103,113
Profit /(loss) for the year	34,629	38,183

Erre-S Costruzioni SRL.

Registered Office :

Nature of the Business:

Class of Shares:

Percentage: 80%

	2025	2024
Aggregate Capital and Reserve Profit/(Loss) for the year	1,641,706 412,170	1,305,224 (23,049)

Omar Srl

Registered Office:

Nature of the Business:

Class of Shares:

Percentage: 100%

	2025	2024
Aggregate Capital and Reserve Profit/ (Loss) for the year	51,596 (23,938)	52,534 (32,211)

Associate

...CONTINUED

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West Lancaster Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Investments - continued

M.A.S. Trade S.R.L.

Registered Office:

Nature of the Business:

Class of Shares:

Percentage: 50%

	2025	2024
Aggregate Capital and Reserve	(87,499)	(75,578)
Profit/ (Loss) for the year	(13,882)	(76,842)

6. Debtors

	2025	2024
	€	€
Due within one year
Other debtors	1,773,910	1,823,911
Amounts owed by associates	499,000	499,000

	2,272,910	2,322,911
Due after more than one year
Loan Other	922,899	911,024

	3,195,809	3,233,935

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	€	€
Shareholder Loan	11,108,515	10,288,515
Accruals and deferred income	-	4,437

	11,108,515	10,292,952

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	€	€
Other creditors	520,000	520,000

9. Share Capital

	2025	2024
	€	€
Allotted, Called up and fully paid	1	1

1 Ordinary share of £1 each

10. Ultimate Controlling Party

The company's ultimate controlling party is Mr Marc Kurt Ostheimer by virtue of his ownership of 100% of the issued share capital in the company.

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		2025		2024
	Notes	€	€	€	€
FIXED ASSETS
Investments	5		10,397,164		9,238,664

			10,397,164		9,238,664
CURRENT ASSETS
Debtors	6	3,195,809		3,233,935
Cash at bank and in hand		696		270,064

		3,196,505		3,503,999
Creditors: Amounts Falling Due Within One Year	7	(11,108,515 )		(10,292,952 )

NET CURRENT ASSETS (LIABILITIES)			(7,912,010 )		(6,788,953 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,485,154		2,449,711

Creditors: Amounts Falling Due After More Than One Year	8		(520,000 )		(520,000 )

NET ASSETS			1,965,154		1,929,711

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			1,965,153		1,929,710

SHAREHOLDERS' FUNDS			1,965,154		1,929,711