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Company No: 09793244 (England and Wales)

BLUEKEEP INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

BLUEKEEP INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

BLUEKEEP INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
BLUEKEEP INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTORS Dr H Badra
M Elguindi
REGISTERED OFFICE 48 Suffolk Road
London
SW13 9NR
United Kingdom
COMPANY NUMBER 09793244 (England and Wales)
ACCOUNTANT S&W Partners LLP
Onslow House
Onslow Street
Guildford
GU1 4TL
BLUEKEEP INVESTMENTS LIMITED

BALANCE SHEET

As at 30 September 2024
BLUEKEEP INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 679 1,019
Investments 4 2,465,611 2,485,853
2,466,290 2,486,872
Current assets
Debtors 5 1,889 2,103
Cash at bank and in hand 0 19,727
1,889 21,830
Creditors: amounts falling due within one year 6 ( 2,064,465) ( 2,197,524)
Net current liabilities (2,062,576) (2,175,694)
Total assets less current liabilities 403,714 311,178
Provision for liabilities 7 ( 33,513) ( 11,184)
Net assets 370,201 299,994
Capital and reserves
Called-up share capital 100 100
Profit and loss account 370,101 299,894
Total shareholders' funds 370,201 299,994

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Bluekeep Investments Limited (registered number: 09793244) were approved and authorised for issue by the Board of Directors on 18 June 2025. They were signed on its behalf by:

M Elguindi
Director
BLUEKEEP INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
BLUEKEEP INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bluekeep Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 48 Suffolk Road, London, SW13 9NR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Bluekeep Investments Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Prior year adjustment

The comparative figures displayed on the Statement of Income and Retained Earnings have been restated for classification and presentational purposes.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.

Investments in listed shares are classified as basic financial instruments. They are initially measured at transaction price and subsequently measured at fair value, with changes in fair value being recognised in profit or loss. Fair value is determined using the quoted bid price at the balance sheet date.

Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.

Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 October 2023 1,359 1,359
At 30 September 2024 1,359 1,359
Accumulated depreciation
At 01 October 2023 340 340
Charge for the financial year 340 340
At 30 September 2024 680 680
Net book value
At 30 September 2024 679 679
At 30 September 2023 1,019 1,019

4. Fixed asset investments

Listed investments Other investments Total
£ £ £
Cost or valuation before impairment
At 01 October 2023 2,485,853 0 2,485,853
Additions 451,342 194,227 645,569
Disposals ( 581,276) ( 61,550) ( 642,826)
Movement in fair value ( 22,985) 0 ( 22,985)
At 30 September 2024 2,332,934 132,677 2,465,611
Carrying value at 30 September 2024 2,332,934 132,677 2,465,611
Carrying value at 30 September 2023 2,485,853 0 2,485,853

5. Debtors

2024 2023
£ £
Prepayments 302 344
Other debtors 1,587 1,759
1,889 2,103

Other debtors represents accrued dividend income.

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 559,285 669,825
Trade creditors 12,465 0
Amounts owed to directors 1,479,627 1,500,679
Accruals 13,088 27,020
2,064,465 2,197,524

The Company has allowed Credit Suisse (UK) Ltd a fixed and a floating charge, as well as a negative pledge over the company's investments.

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 11,184) ( 21,936)
(Charged)/credited to the Statement of Income and Retained Earnings ( 22,329) 10,752
At the end of financial year ( 33,513) ( 11,184)

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Repayments made to the director by the Company (21,052) 0
Loan to the Company 0 1,494,210

At the year end, the Company owed the director £1,479,627 (2023 - £1,500,679). This loan is interest free, unsecured and repayable on demand.

The director has provided a £1,000,000 guarantee to Credit Suisse (UK) Limited in respect of the Company's overdraft.