REGISTERED NUMBER: 10912644 (England and Wales)

Strategic Report,

Report of the Director and

Financial Statements

for the Year Ended 31 December 2025

for

Lucky Win Limited

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTOR:

Mr C Tseng

REGISTERED OFFICE:

Grove House, 2nd Floor

774-780 Wilmslow Road

Didsbury

Manchester

M20 2DR

REGISTERED NUMBER:

10912644 (England and Wales)

AUDITORS:

Sterling Partners Limited

Chartered Accountants

Statutory Auditors

2nd Floor, Grove House

774-780 Wilmslow Road

Didsbury

Manchester

Greater Manchester

M20 2DR

The director presents his strategic report for the year ended 31 December 2025.

UK-based Lucky Win Limited is a premier global B2B provider of cutting-edge, high-value online gaming solutions.

REVIEW OF BUSINESS

Founded in 2017, Lucky Win focuses on delivering top-tier gaming content through a robust global network of licensees.

As a wholly owned subsidiary of IGS, Lucky Win handles international distribution. IGS manages the core game development, software maintenance, and updates. Once finalised, the games are licenced to Lucky Win for global distribution, with Lucky Win paying performance-based royalties back to IGS.

PRINCIPAL RISKS AND UNCERTAINTIES

Market Risk

IGS carries the bulk of market risk due to its responsibility over R&D and global marketing. Lucky Win's exposure is limited as it focuses solely on sales and localised licensing operations.

Financial Risk

Lucky Win handles transactions in local currencies via overseas operators, exposing the company to currency fluctuations and credit risks.

Mitigation Strategy

We proactively manage these risks through strict corporate governance:

- Our Risk Management Team conducts rigorous background checks on all our partners.

- Our Development Team closely monitors local regulatory shifts to ensure total products compliance.

- Both Lucky Win and its partners operate in strict compliance with Anti-Money Laundering (AML) standards.

2025 BUSINESS REPORT

I. Results of the 2025 operational plan

Operating revenue in 2025 was £45,786,231; net profit after tax was £162,573. Operating income in 2025 decreased by £3,860,535, or 7.78%, and net profit after tax decreased by £894,073 or 84.61%, compared to 2024, primarily due to the impact of fluctuations in foreign exchange rates in the international markets. The net loss on foreign currency exchange in 2025 increased by £950,659 or 2,926.62% compared with 2024.

II. Budget execution in 2025

The Company did not issue financial forecasts in 2025; as a result information on budget execution is not available.

III. 2025 profitability analysis

Item

2025 (£)

2024 (£)

Variance (£)

Variance (%)

Operating revenue

45,786,231

49,646,766

-3,860,535

-7.78%

Operating costs

44,870,506

48,653,831

-3,783,325

-7.78%

Gross profit

915,725

992,935

-77,210

-7.78%

Operating expenses

61,094

25,111

35,983

143.30%

Profit from operations

854,631

967,824

-113,193

-11.70%

Non-operating income and expenses

-642,759

457,988

-1,100,747

-240.34%

Profit before income tax

211,872

1,425,812

-1,213,940

-85.14%

Income tax expense

49,299

369,166

-319,867

-86.65%

Net profit for the year

162,573

1,056,646

-894,073

-84.61%

IV: Summary of the 2026 operational plan

According to the recent report, the market trend is much favored to Online Gaming segment. More people are used to playing online and the revenue in Online Gaming segment maintains its strong rapid growth. More companies offer various types of games which make the business more competitive.

Lucky Win offers various types of video games and delivers over 100 creative titles to the licensees. We are committed to offering our partners comprehensive products and services across all platforms and engage to launch 1~2 new games and events every month. In addition, we work closely with our partners and provide localized contents to enhance players' gaming experience.

ON BEHALF OF THE BOARD:

Mr C Tseng - Director

8 September 2026

The director presents his report with the financial statements of the Company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the Company in the year under review was that of the provision of software licenses for gambling and betting agencies.

DIVIDENDS

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

DIRECTOR

Mr C Tseng held office during the whole of the period from 1 January 2025 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Company's auditors are unaware, and he 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 Company's auditors are aware of that information.

AUDITORS

The auditors, Sterling Partners Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr C Tseng - Director

8 September 2026

Opinion

We have audited the financial statements of Lucky Win Limited (the 'Company') for the year ended 31 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 31 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 Auditors' 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Strategic Report and the Report of the Director 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 Director have been prepared in accordance with applicable legal requirements.

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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the Company or to cease operations, or has 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:

- results of our enquiries of management about their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the entities' documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the entity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, local tax legislation and local Gambling regulations.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the entities’ ability to operate or to avoid a material penalty.

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.

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.

Mir Seyed Mokhtassi BSc FCA CTA (Senior Statutory Auditor)

for and on behalf of Sterling Partners Limited

Chartered Accountants

Statutory Auditors

2nd Floor, Grove House

774-780 Wilmslow Road

Didsbury

Manchester

Greater Manchester

M20 2DR

8 September 2026

TURNOVER

45,786,231

49,646,766

Cost of sales

(44,870,507

)

(48,653,831

)

GROSS PROFIT

915,724

992,935

Administrative expenses

(981,377

)

(13,650

)

OPERATING (LOSS)/PROFIT

5

(65,653

)

979,285

Interest receivable and similar income

275,417

409,081

209,764

1,388,366

Interest payable and similar expenses

6

-

16,424

PROFIT BEFORE TAXATION

209,764

1,404,790

Tax on profit

7

(62,699

)

(352,784

)

PROFIT FOR THE FINANCIAL YEAR

147,065

1,052,006

PROFIT FOR THE YEAR

147,065

1,052,006

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

147,065

1,052,006

CURRENT ASSETS

Debtors

8

3,751,529

4,712,312

Cash at bank

9,002,488

8,732,662

12,754,017

13,444,974

CREDITORS

Amounts falling due within one year

9

(7,876,351

)

(8,714,373

)

NET CURRENT ASSETS

4,877,666

4,730,601

TOTAL ASSETS LESS CURRENT LIABILITIES

4,877,666

4,730,601

CAPITAL AND RESERVES

Called up share capital

10

80,000

80,000

Retained earnings

11

4,797,666

4,650,601

SHAREHOLDERS' FUNDS

4,877,666

4,730,601

The financial statements were approved by the director and authorised for issue on 8 September 2026 and were signed by:

Mr C Tseng - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

80,000

3,598,595

3,678,595

Changes in equity

Profit for the year

-

1,052,006

1,052,006

Total comprehensive income

-

1,052,006

1,052,006

Balance at 31 December 2024

80,000

4,650,601

4,730,601

Changes in equity

Profit for the year

-

147,065

147,065

Total comprehensive income

-

147,065

147,065

Balance at 31 December 2025

80,000

4,797,666

4,877,666

Cash flows from operating activities

Cash generated from operations

1

612,605

(1,106,130

)

Interest paid

-

16,424

Tax paid

(618,196

)

8,240

Net cash from operating activities

(5,591

)

(1,081,466

)

Cash flows from investing activities

Interest received

275,417

409,081

Net cash from investing activities

275,417

409,081

Increase/(decrease) in cash and cash equivalents

269,826

(672,385

)

Cash and cash equivalents at beginning of year

2

8,732,662

9,405,047

Cash and cash equivalents at end of year

2

9,002,488

8,732,662

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

2025

2024

£

£

Profit before taxation

209,764

1,404,790

Finance costs

-

(16,424

)

Finance income

(275,417

)

(409,081

)

(65,653

)

979,285

Decrease/(increase) in trade and other debtors

1,074,476

(777,597

)

Decrease in trade and other creditors

(396,218

)

(1,307,818

)

Cash generated from operations

612,605

(1,106,130

)

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

9,002,488

8,732,662

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

8,732,662

9,405,047

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank

8,732,662

269,826

9,002,488

8,732,662

269,826

9,002,488

Total

8,732,662

269,826

9,002,488

1.	STATUTORY INFORMATION

Lucky Win 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Lucky Win Limited is a fully owned subsidiary of International Games System Co Ltd. International Games System Co Ltd is registered in Taiwan with the registered office address of: No 130 Wugong Road, New Taipei City, Wugu District, Taiwan 24886.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of the exemption under Section 33 of FRS 102 not to disclose transactions with entities that are part of the group, qualifying as wholly owned subsidiaries. Transactions with group companies are recognised on an accruals basis at the agreed contract or arm's length value. Balances outstanding at the reporting date are included in receivables or payables. Significant intercompany transactions outside of wholly owned subsidiaries are disclosed where material.

Turnover

Revenue represents amounts receivable from the sale or supply of licences provided to customers in the ordinary course of business and is recognised to the extent that it is probable that the future economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when payment is received.

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.

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. Exchange rates are taken from the Bank of Taiwan.

Going concern

The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date these financial statements are authorised for issue. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

4.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 December 2025 nor for the year ended 31 December 2024.

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

2025

2024

Directors

1

1

2025

2024

£

£

Director's remuneration

-

-

5.	OPERATING (LOSS)/PROFIT

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

2025

2024

£

£

Auditors' remuneration

19,263

18,120

Foreign exchange differences

920,285

(11,462

)

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

HMRC interest

-

(16,424

)

7.

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

62,699

352,784

Tax on profit

62,699

352,784

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

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

209,764

1,404,790

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

52,441

351,198

Effects of:

Expenses not deductible for tax purposes

10,258

1,586

Total tax charge

62,699

352,784

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,627,085

4,698,883

Interest receivable

10,751

13,429

Tax

113,693

-

3,751,529

4,712,312

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

6,822,676

7,219,536

Tax

-

352,784

Withholding tax

1,044,123

1,133,143

Accrued expenses

9,552

8,910

7,876,351

8,714,373

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

80,000

Ordinary

1

80,000

80,000

All shares have fully rights to participate in voting, distribution of dividends and on winding up.

11.

RESERVES

Retained

earnings

£

At 1 January 2025

4,650,601

Profit for the year

147,065

At 31 December 2025

4,797,666

12.	ULTIMATE PARENT COMPANY

International games system(IGS) (incorporated in China ) is regarded by the director as being the Company's ultimate parent company.

13.	RELATED PARTY DISCLOSURES

International Games System Co Ltd

The parent company to the subsidiary of Lucky Win Limited.

The transactions between Lucky Win Limited and International Games Systems Co Ltd (IGS) is that IGS licence online games to Lucky Win Limited and the cost associated with the licences for the year ended 31st December 2025 totalled £44,870,507 (2024: £48,653,831).

2025

2024

£

£

Amount due to related party at the balance sheet date

6,822,676

7,219,536

14.	ULTIMATE CONTROLLING PARTY

The controlling party is International Games System Co Ltd.

The ultimate controlling party is International Games System Co Ltd.

15.	FINANCIAL RISK MANAGEMENT

The Company has exposures to three main areas of risk - interest rate risk exposure, liquidity risk and customer credit exposure and foreign exchange currency.

Interest rate risk

The Company generate their own cash so they do not require loans at present.

Liquidity risk

The objective of the Company in managing liquidity risk is to ensure that it can meet its financial obligations as and when they fall due. The Company expects to meet its financial obligations through operating cash flows. Should the Company be unable to meet their obligations, they can rely on their parent company.

Customer credit exposure

The Company may offer credit terms to its customers which allow payment of the debt after delivery of the goods or services. The Company is at risk to the extent that a customer may be unable to pay the debt on the specified due date. This risk is mitigated by the strong on-going customer relationship.

Foreign exchange transactional currency exposure

The Company is exposed to currency exchange rate risk due to a the majority of its trade exchanged in non-Sterling currencies. They manage this risk by keeping the majority of their cash in the non-Sterling bank accounts.