REGISTERED NUMBER: 13797061 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

FOR

ALLECTUS QUANTUM HOLDINGS LTD

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

C D O Jillings

S C Saville

SECRETARY:

ICM Administration Limited

REGISTERED OFFICE:

Ridgecourt

The Ridge

Epsom

Surrey

KT18 7EP

REGISTERED NUMBER:

13797061 (England and Wales)

AUDITORS:

Lewis Brownlee (Chichester) Limited

Statutory Auditors

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

The directors present their strategic report for the year ended 30 June 2026.

REVIEW OF BUSINESS

During the year, the company's activities continued to be focused on overseeing and supporting its investment structure through its wholly owned subsidiary. The directors monitored the performance and prospects of the underlying investment held within the group and considered the long-term value creation opportunities associated with that investment. The company has no employees and does not maintain trading operations. Its activities are limited to strategic oversight, governance and investment management.

The directors consider the principal financial performance indicator of the company to be the carrying value and performance of its investment. During the year, the value of the company's investment portfolio developed in line with the board's expectations. The directors continue to monitor the underlying performance, financial position and long-term prospects of the investee entity and remain satisfied that the carrying values reflected in the financial statements are appropriate. The board is pleased with the progress achieved during the year and believes that the company's investments remain well positioned to support future value creation.

Given the nature and scale of the company's activities as an investment holding company, the directors do not currently use any specific non-financial key performance indicators to monitor performance. The board has nevertheless considered matters relating to environmental, social, community and human rights issues and does not consider these matters to be material to the assessment of the company's performance for the year under review.

PRINCIPAL RISKS AND UNCERTAINTIES

The board has considered the principal risks and uncertainties facing the company. As an investment holding company, the company's principal risks relate to changes in the value and performance of its underlying investment, market conditions affecting that investment and the ability of the investee entity to achieve its strategic objectives and financial targets.

The directors monitor the performance and carrying value of the company's investments on a regular basis and remain satisfied that appropriate oversight and governance arrangements are in place to manage these risks. The directors are not aware of any other principal risks or uncertainties which are expected to have a material impact on the company's future performance.

SECTION 172(1) STATEMENT

Under Section 172 of the Companies Act 2006, the board has a duty to promote the success of the company for the benefit of its members as a whole in both the long and short term, having regard to the interests of other stakeholders in the company, and to do so with an understanding of the impact on the community and environment and with high standards of business conduct, which includes acting fairly between members of the company.

The board has identified the company's principal stakeholders as:

- the company's shareholders;

- its wholly owned subsidiary Allectus Quantum Limited;

- external professional advisers, including auditors, tax advisers and legal advisers; and

- ICM Limited as investment manager and service provider.

The board engages with these stakeholders through regular communication, review of information provided by the subsidiary and investee company, and consultation with professional advisers where appropriate.

The company is an externally managed investment company with no employees, and as such has nothing to report in relation to employee engagement but does keep close attention to how the board operates as a cohesive and competent unit. The company also has no customers in the traditional sense and, therefore, there is also nothing to report in relation to relationships with customers.

Principal matters considered by the board during the year

The principal matters considered by the Board during the year included:

- the financial position of the company and the wider group;

- the funding requirements and strategic progress of the underlying investment;

- the valuation and long-term prospects of the investment;

- governance, compliance and financial reporting matters; and

- the company's ongoing ability to support the long-term growth objectives of the investee business.

Significant decisions

The board's most significant decisions during the year related to the continued support of the group's long-term investment strategy and the ongoing oversight of the underlying technology investment.

In making these decisions, the directors considered:

- the long-term growth prospects of the investment;

- the interests of the company's shareholders;

- the need to maintain high standards of governance and business conduct; and

- the financial position of the group as a whole.

The directors believe that the decisions taken during the year were consistent with promoting the long-term success of the company for the benefit of its members.

ENGAGEMENT WITH EMPLOYEES

The company does not have any employees.

ON BEHALF OF THE BOARD:

C D O Jillings - Director

4 September 2026

The directors present their report with the financial statements of the company for the year ended 30 June 2026.

PRINCIPAL ACTIVITY

The principal activity of the company is that of an investment holding company. The company holds 100% of the issued share capital of its subsidiary company (Allectus Quantum Limited) and does not carry out any trading activities.

DIVIDENDS

No dividends will be distributed for the year ended 30 June 2026.

EVENTS SINCE THE END OF THE YEAR

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

DIRECTORS

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

C D O Jillings

S C Saville

FUTURE DEVELOPMENTS

The company will continue to operate as an investment holding company and to support the development and growth of its underlying investment.

Following the year end, the investment held by the company’s subsidiary undertook a reorganisation which resulted in the business being redomiciled from Australia to the United States. The directors believe this will better position the business for future growth and fundraising activities.

The directors will continue to monitor the performance of its investment, and evaluate opportunities to maximise shareholder value.

FINANCIAL INSTRUMENTS

The company has a normal level of exposure to price, credit, liquidity, currency and cash flow risks arising from investment activities. The company does not enter into any formally designated hedging arrangements.

QUALIFYING THIRD-PARTY INDEMNITY PROVISIONS

No qualifying third-party indemnity provisions were in force for the benefit of any director during the year or at the date of this report.

STREAMLINED ENERGY AND CARBON REPORTING

The company operated solely as a non-trading investment holding company throughout the year and did not consume any material energy. Accordingly, energy consumption was nil, greenhouse gas emissions were nil and no energy efficiency actions were undertaken during the reporting period.

DIRECTORS' RESPONSIBILITIES STATEMENT

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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 auditors are 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 auditors are aware of that information.

AUDITORS

The auditors, Lewis Brownlee (Chichester) Limited, were appointed during the year and will be proposed for re-appointment at the forthcoming General Meeting.

ON BEHALF OF THE BOARD:

C D O Jillings - Director

4 September 2026

Opinion

We have audited the financial statements of Allectus Quantum Holdings Ltd (the 'company') for the year ended 30 June 2026 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and 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 30 June 2026 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 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 matter

The prior year financial statements and therefore the corresponding figures, being the period ended 30 June 2025, were not audited.

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.

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.

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.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on pages four and 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.

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.

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:

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 the laws and regulations applicable to the company through discussions with the director and other management, and from our commercial knowledge and experience of the sector;

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation;

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting 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 set out in the accounting policies 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, if any;

-

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

-

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

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)

for and on behalf of Lewis Brownlee (Chichester) Limited

Statutory Auditors

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

4 September 2026

TURNOVER

-

-

Administrative expenses

13,500

-

OPERATING LOSS

4

(13,500

)

-

Gain/loss on revaluation of assets

9,640,427

14,847,743

PROFIT BEFORE TAXATION

9,626,927

14,847,743

Tax on profit

5

-

-

PROFIT FOR THE FINANCIAL YEAR

9,626,927

14,847,743

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

9,626,927

14,847,743

FIXED ASSETS

Investments

6

51,693,661

42,053,234

CREDITORS

Amounts falling due within one year

7

13,500

-

NET CURRENT LIABILITIES

(13,500

)

-

TOTAL ASSETS LESS CURRENT LIABILITIES

51,680,161

42,053,234

CAPITAL AND RESERVES

Called up share capital

8

10

10

Share premium

9

12,249,564

12,249,564

Retained earnings

9

39,430,587

29,803,660

SHAREHOLDERS' FUNDS

51,680,161

42,053,234

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2026 and were signed on its behalf by:

C D O Jillings - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 July 2024

10

14,955,917

12,249,564

27,205,491

Changes in equity

Total comprehensive income

-

14,847,743

-

14,847,743

Balance at 30 June 2025

10

29,803,660

12,249,564

42,053,234

Changes in equity

Total comprehensive income

-

9,626,927

-

9,626,927

Balance at 30 June 2026

10

39,430,587

12,249,564

51,680,161

Cash flows from operating activities

Cash generated from operations

12

-

-

Increase in cash and cash equivalents

-

-

Cash and cash equivalents at beginning of year

-

-

Cash and cash equivalents at end of year

-

-

1.	STATUTORY INFORMATION

Allectus Quantum Holdings Ltd 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 (£).

Monetary amounts in these financial statements are rounded to the nearest whole £1.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Allectus Quantum Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. In accordance with the requirements of FRS 102, the subsidiary company should be excluded from consolidation on the grounds that the subsidiary company is held as part of an investment portfolio and is measured at fair value with changes in fair value recognised in profit or loss.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at fair value with changes in fair value recognised in profit or loss. Fair value is based on the net assets of the subsidiary.

Financial instruments

Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.

Assessment of investment entity status and non-consolidation of a subsidiary

Management has concluded that the company meets the definition of an investment entity under FRS 102 and that its investment in the subsidiary should not be consolidated. In reaching this conclusion, management exercised significant judgement in assessing the company's business purpose, the manner in which investments are managed and evaluated on a fair value basis, and whether the characteristics of an investment entity are present.

Accordingly, the investment in the subsidiary is accounted for at fair value through profit or loss rather than being consolidated, as permitted by FRS 102.

Valuation of subsidiary held at fair value

The company's investment in its subsidiary is measured at fair value at each reporting date. The fair value has been determined with reference to the subsidiary's net asset value, which management considers to be the most appropriate estimate of fair value given the nature of the subsidiary's underlying assets and liabilities.

The determination of fair value requires management to make estimates and assumptions regarding the valuation of the subsidiary's underlying assets and liabilities. Changes in these estimates and assumptions may result in material adjustments to the carrying value of the investment in future reporting periods.

3.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 30 June 2026 nor for the year ended 30 June 2025.

The average number of employees during the year was NIL (2025 - NIL).

2026

2025

£

£

Directors' remuneration

-

-

4.	OPERATING PROFIT

The operating profit is stated after charging:

2026

2025

£

£

Auditors' remuneration

8,700

-

Auditors' remuneration for non audit work

4,800

-

5.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 30 June 2026 nor for the year ended 30 June 2025.

Reconciliation of total tax charge included in profit and loss

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

2026

2025

£

£

Profit before tax

9,626,927

14,847,743

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

2,406,732

3,711,936

Effects of:

Fair value movements not taxable

(2,410,107

)

(3,711,936

)

Excess management expenses carried forward

3,375

-

Total tax charge

-

-

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 July 2025

42,053,234

Revaluations

9,640,427

At 30 June 2026

51,693,661

NET BOOK VALUE

At 30 June 2026

51,693,661

At 30 June 2025

42,053,234

Cost or valuation at 30 June 2026 is represented by:

Shares in

group

undertakings

£

Valuation in 2024

14,955,917

Valuation in 2025

14,847,743

Valuation in 2026

9,640,427

Cost

12,249,574

51,693,661

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

Allectus Quantum Ltd

Registered office: Ridgecourt, The Ridge, Epsom, Surrey, KT18 7EP

Nature of business: Investment management

%

Class of shares:

holding

Ordinary

100.00

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Accruals and deferred income

13,500

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

1,006

Ordinary

0.01

10

10

Ordinary shares have full voting rights and full entitlement to income and capital.

9.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 July 2025

29,803,660

12,249,564

42,053,224

Profit for the year

9,626,927

-

9,626,927

At 30 June 2026

39,430,587

12,249,564

51,680,151

Retained earnings include £39,444,087 (2025 - £29,803,660) of unrealised profits.

10.	POST BALANCE SHEET EVENTS

Subsequent to 30 June 2026, the underlying investee held by the company’s subsidiary completed a corporate restructuring which resulted in the business being redomiciled from Australia to the United States. The directors consider this to be an important post balance sheet event and have evaluated its impact in preparing these financial statements.

In addition, subsequent to the year end, the company's subsidiary concluded a transaction whereby certain share options issued by the subsidiary were exercised and cancelled in accordance with the terms of the relevant agreements. At 30 June 2026, the subsidiary recognised a liability in respect of these arrangements. The subsequent exercise and cancellation of the options has resulted in the settlement of the related obligation.

The directors are not aware of any other matters occurring after the reporting date which would require adjustment to, or disclosure in, these financial statements.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the board of directors of Somers Isles Private Trust Company Limited, a company registered in Bermuda.

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

2026

2025

£

£

Profit before taxation

9,626,927

14,847,743

Gain on revaluation of fixed assets

(9,640,427

)

(14,847,743

)

(13,500

)

-

Increase in trade and other creditors

13,500

-

Cash generated from operations

-

-