Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-31 2024-12-31 true 2024-01-01 true 78 false Selling motor vehicle parts to trade customers.64 false 01292813 2024-01-01 2024-12-31 01292813 2023-01-01 2023-12-31 01292813 2024-12-31 01292813 2023-12-31 01292813 2023-01-01 01292813 c:Director2 2024-01-01 2024-12-31 01292813 d:MotorVehicles 2024-01-01 2024-12-31 01292813 d:MotorVehicles 2024-12-31 01292813 d:MotorVehicles 2023-12-31 01292813 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01292813 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 01292813 d:FurnitureFittings 2024-01-01 2024-12-31 01292813 d:FurnitureFittings 2024-12-31 01292813 d:FurnitureFittings 2023-12-31 01292813 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01292813 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 01292813 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01292813 d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 01292813 d:Goodwill 2024-01-01 2024-12-31 01292813 d:Goodwill 2024-12-31 01292813 d:Goodwill 2023-12-31 01292813 d:CurrentFinancialInstruments 2024-12-31 01292813 d:CurrentFinancialInstruments 2023-12-31 01292813 d:Non-currentFinancialInstruments 2024-12-31 01292813 d:Non-currentFinancialInstruments 2023-12-31 01292813 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 01292813 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01292813 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 01292813 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 01292813 d:ShareCapital 2024-12-31 01292813 d:ShareCapital 2023-12-31 01292813 d:SharePremium 2024-12-31 01292813 d:SharePremium 2023-12-31 01292813 d:RetainedEarningsAccumulatedLosses 2024-12-31 01292813 d:RetainedEarningsAccumulatedLosses 2023-12-31 01292813 c:OrdinaryShareClass1 2024-01-01 2024-12-31 01292813 c:OrdinaryShareClass1 2024-12-31 01292813 c:OrdinaryShareClass1 2023-12-31 01292813 c:OrdinaryShareClass2 2024-01-01 2024-12-31 01292813 c:OrdinaryShareClass2 2024-12-31 01292813 c:OrdinaryShareClass2 2023-12-31 01292813 c:OrdinaryShareClass3 2024-01-01 2024-12-31 01292813 c:OrdinaryShareClass3 2024-12-31 01292813 c:OrdinaryShareClass3 2023-12-31 01292813 c:OrdinaryShareClass4 2024-01-01 2024-12-31 01292813 c:OrdinaryShareClass4 2024-12-31 01292813 c:OrdinaryShareClass4 2023-12-31 01292813 c:OrdinaryShareClass5 2024-01-01 2024-12-31 01292813 c:OrdinaryShareClass5 2024-12-31 01292813 c:OrdinaryShareClass5 2023-12-31 01292813 c:FRS102 2024-01-01 2024-12-31 01292813 c:Audited 2024-01-01 2024-12-31 01292813 c:FullAccounts 2024-01-01 2024-12-31 01292813 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01292813 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 01292813 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 01292813 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-12-31 01292813 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 01292813 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01292813 2 2024-01-01 2024-12-31 01292813 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 01292813 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01292813 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-12-31 01292813 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 01292813 d:LeasedAssetsHeldAsLessee 2024-12-31 01292813 d:LeasedAssetsHeldAsLessee 2023-12-31 01292813 d:Goodwill d:OwnedIntangibleAssets 2024-01-01 2024-12-31 01292813 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01292813 PEARLCASTLE LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
PEARLCASTLE LIMITED REGISTERED NUMBER: 01292813 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 440,048 |  | 493,748
Tangible assets | 5 |  | 504,174 |  | 543,805
|  |  | 944,222 |  | 1,037,553
Current assets |  |  |  |  |
Stocks | 6 | 1,484,709 |  | 1,654,103 |
Debtors: amounts falling due within one year | 7 | 1,017,020 |  | 920,811 |
Cash at bank and in hand | 8 | 26,570 |  | 65,244 |
|  | 2,528,299 |  | 2,640,158 |
Creditors: amounts falling due within one year | 9 | (1,583,706) |  | (1,549,899) |
Net current assets |  |  | 944,593 |  | 1,090,259
Total assets less current liabilities |  |  | 1,888,815 |  | 2,127,812
Creditors: amounts falling due after more than one year | 10 |  | (107,742) |  | (107,742)
Provisions for liabilities |  |  |  |  |
Deferred tax | 12 | (22,551) |  | (70,021) |
|  |  | (22,551) |  | (70,021)
Net assets |  |  | 1,758,522 |  | 1,950,049
Capital and reserves |  |  |  |  |
Called up share capital | 13 |  | 140 |  | 140
Share premium account |  |  | 121,658 |  | 121,658
Profit and loss account |  |  | 1,636,724 |  | 1,828,251
|  |  | 1,758,522 |  | 1,950,049
Page 1
PEARLCASTLE LIMITED REGISTERED NUMBER: 01292813 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
A Shah
Director
Date: 27 August 2025
The notes on pages 3 to 13 form part of these financial statements. Page 2
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Pearlcastle Limited is a private company limited by shares and registered in England and Wales. The company's registration number is 01292813. The registered office address is Unit 14a, Brunswick Industrial Park, Brunswick Way, London, N11 1JL. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in Pounds Sterling, rounded to the nearest £1. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.3 | Operating leases: the Company as lessor
Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term. Temporary rent concessions occurring as a direct consequence of the COVID-19 pandemic have been recognised on a systematic basis over the periods that the change in lease income is intended to compensate. This is conditional on: ∙the change in lease income resulting in revised consideration for the lease that is less than the consideration for the lease immediately preceding the change; ∙any reduction in lease income affecting only income originally due on or before 30 June 2022; ∙there being no significant change to other terms and conditions of the lease. Page 3
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Temporary rent concessions occurring as a direct consequence of the COVID-19 pandemic have been recognised on a systematic basis over the periods that the change in lease payments is intended to compensate. This is conditional on: ∙the change in lease payments resulting in revised consideration for the lease that is less than the consideration for the lease immediately preceding the change; ∙any reduction in lease payments affecting only payments originally due on or before 30 June 2022; ∙there being no significant change to other terms and conditions of the lease.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 4
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.9 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.10 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.11 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 5
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.11 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 25% reducing balance
|  |  |  | Fixtures and fittings | - | 15% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.12 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.13 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.14 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.15 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 6
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.16 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.17 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Financial instruments are recognised in the Company's Balance Sheet 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, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Page 7
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.17 | Financial instruments (continued)
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.18 | 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 at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 78 (2023 - 64).
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 January 2024 | 536,998
| At 31 December 2024 | 536,998
| Amortisation |
| At 1 January 2024 | 43,250
| Charge for the year on owned assets | 53,700
| At 31 December 2024 | 96,950
| Net book value |
| At 31 December 2024 | 440,048
| At 31 December 2023 | 493,748
Page 8
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Tangible fixed assets
|  | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2024 | 680,785 | 935,649 | 1,616,434
| Additions | 22,719 | 55,389 | 78,108
| At 31 December 2024 | 703,504 | 991,038 | 1,694,542
| Depreciation |  |  |
| At 1 January 2024 | 306,317 | 766,312 | 1,072,629
| Charge for the year on owned assets | 19,141 | 25,003 | 44,144
| Charge for the year on financed assets | 73,595 | - | 73,595
| At 31 December 2024 | 399,053 | 791,315 | 1,190,368
| Net book value |  |  |
| At 31 December 2024 | 304,451 | 199,723 | 504,174
| At 31 December 2023 | 374,468 | 169,337 | 543,805
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Motor vehicles | 196,867 | 331,704
|  | 196,867 | 331,704
6. | Stocks
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Goods for resale | 1,484,709 | 1,654,103
|  | 1,484,709 | 1,654,103
Page 9
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 636,179 | 659,530
| Amounts owed by group undertakings | 337,000 | 205,304
| Other debtors | 22,748 | 34,799
| Prepayments and accrued income | 21,093 | 21,178
|  | 1,017,020 | 920,811
8. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 26,570 | 65,244
| Less: bank overdrafts | (591,351) | (240,926)
|  | (564,781) | (175,682)
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank overdrafts | 591,351 | 240,926
| Trade creditors | 650,021 | 705,314
| Amounts owed to group undertakings | - | 28,304
| Corporation tax | 62,087 | -
| Other taxation and social security | 222,764 | 211,024
| Obligations under finance lease and hire purchase contracts | 27,211 | 114,640
| Other creditors | 23,300 | 200,000
| Accruals and deferred income | 6,972 | 49,691
|  | 1,583,706 | 1,549,899
| The bank overdraft is secured by a guarantee supported by a debenture creating a fixed and floating charge over the assets of the Company.
Page 10
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | 107,742 | 107,742
|  | 107,742 | 107,742
11. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Within one year | 27,211 | 116,601
| Between 1-5 years | 107,742 | 107,742
|  | 134,953 | 224,343
| Leases are secured over the assets to which they relate.
Page 11
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
12. | Deferred taxation
|  | 2024 | 2023
|  | £ | £
| At beginning of year | (70,021) | (83,098)
| Charged to the profit or loss | 47,470 | 13,077
| At end of year | (22,551) | (70,021)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | 22,551 | 70,021
|  | (22,551) | (70,021)
13. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 10 (2023 - 10) Ordinary A shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary B shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary C shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary D shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary E shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary F shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary G shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary H shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary I shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary J shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary K shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary L shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary M shares of £1.00 each | 10 | 10
|  | 10 (2023 - 10) Ordinary N shares of £1.00 each | 10 | 10
|  |  | 140 | 140
Page 12
PEARLCASTLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
14. | Controlling party
The parent undertaking is Castlepearl Limited, a company incorporated in England & Wales and whose registered office address is Unit 14a Brunswick Industrial Park, Brunswick Way, London N11 1JL. The accounts of the Company are included in the consolidated financial statements of Castlepearl Limited, copies of which are available from Companies House. In the opinion of the directors there is no controlling party.
15. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 27 August 2025 by Alexander Chrysaphiades FCA (Senior Statutory Auditor) on behalf of Adler Shine LLP.
Page 13