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Registered number: 13583765 GOLDENPEAKS ADVISERS LIMITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
GOLDENPEAKS ADVISERS LIMITED Company Information
Directors | Ezekiel Saliba
| Kristina Shamieva
Registered number | 13583765
Registered office | 3rd Floor
| 12 Gough Square
| London
| EC4A 3DW
Independent auditors | Sayers Butterworth LLP
| Chartered Accountants & Statutory Auditor
| 3rd Floor
| 12 Gough Square
| London
| EC4A 3DW
GOLDENPEAKS ADVISERS LIMITED Registered number: 13583765 Balance Sheet As at 31 December 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 51,559 |  | 38,037
|  |  | 51,559 |  | 38,037
Current assets |  |  |  |  |
Debtors: amounts falling due after more than one year | 5 | - |  | 85,608 |
Debtors: amounts falling due within one year | 5 | 828,836 |  | 174,055 |
Cash at bank and in hand | 6 | 30,809 |  | 66,209 |
|  | 859,645 |  | 325,872 |
Creditors: amounts falling due within one year | 7 | (583,735) |  | (219,456) |
Net current assets |  |  | 275,910 |  | 106,416
Total assets less current liabilities |  |  | 327,469 |  | 144,453
Provisions for liabilities |  |  |  |  |
Other provisions | 8 | (24,600) |  | (24,600) |
|  |  | (24,600) |  | (24,600)
Net assets |  |  | 302,869 |  | 119,853
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 302,769 |  | 119,753
|  |  | 302,869 |  | 119,853
Page 1
GOLDENPEAKS ADVISERS LIMITED Registered number: 13583765 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 on 25 August 2025.
Ezekiel Saliba
Director
The notes on pages 4 to 11 form part of these financial statements. Page 2
GOLDENPEAKS ADVISERS LIMITED Statement of Changes in Equity For the Year Ended 31 December 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 100 | 119,753 | 119,853
Comprehensive income for the year |  |  |
Profit for the year | - | 183,016 | 183,016
At 31 December 2024 | 100 | 302,769 | 302,869
| The notes on pages 4 to 11 form part of these financial statements.
Statement of Changes in Equity For the Year Ended 31 December 2023
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2023 | 100 | 11,227 | 11,327
Comprehensive income for the year |  |  |
Profit for the year | - | 108,526 | 108,526
At 31 December 2023 | 100 | 119,753 | 119,853
| The notes on pages 4 to 11 form part of these financial statements.
Page 3
GOLDENPEAKS ADVISERS LIMITED Notes to the Financial Statements For the Year Ended 31 December 2024
1. | General information
Goldenpeaks Advisers Limited ("the Company") is a private company limited by shares incorporated in England and Wales. The Company's registered office is 3rd Floor 12 Gough Square, London, United Kingdom, EC4A 3DW. The principal activity of the company is the provision of management consultancy activities for the Goldenpeaks group. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on the going concern basis as the company is dependent on a group company for financial support and the generation of revenue. The directors have obtained confirmation from the group company that it will provide whatever financial support may be necessary in order for the company to meet its liabilities and commitments as they fall due.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. Page 4
GOLDENPEAKS ADVISERS LIMITED Notes to the Financial Statements For the Year Ended 31 December 2024 2.Accounting policies (continued)
| 2.4 | 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: Cost plus fees Cost plus fees represents fees received for administrative support services provided during the period to related party entities. This turnover is recognised when the services are provided and is measured at a mark-up on costs.
| 2.5 | 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. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | 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 5
GOLDENPEAKS ADVISERS LIMITED Notes to the Financial Statements For the Year Ended 31 December 2024 2.Accounting policies (continued)
| 2.7 | Taxation
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.
| 2.8 | 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. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Page 6
GOLDENPEAKS ADVISERS LIMITED Notes to the Financial Statements For the Year Ended 31 December 2024 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 25% |
|  |  |  | Office equipment | - | 10% |
|  |  |  | Computer equipment | - | 25% |
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.
| 2.9 | 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.
| 2.10 | 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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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. Page 7
GOLDENPEAKS ADVISERS LIMITED Notes to the Financial Statements For the Year Ended 31 December 2024 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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. Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Page 8
GOLDENPEAKS ADVISERS LIMITED Notes to the Financial Statements For the Year Ended 31 December 2024 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
3. | Employees
| The average monthly number of employees, including directors, during the year was 14 (2023 - 10).
4. | Tangible fixed assets
|  | Fixtures and fittings | Office equipment | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2024 | 12,775 | 15,061 | 18,721 | 46,557
| Additions | 16,796 | 874 | 12,691 | 30,361
| At 31 December 2024 | 29,571 | 15,935 | 31,412 | 76,918
| Depreciation |  |  |  |
| At 1 January 2024 | - | 1,506 | 7,014 | 8,520
| Charge for the year on owned assets | 7,393 | 1,593 | 7,853 | 16,839
| At 31 December 2024 | 7,393 | 3,099 | 14,867 | 25,359
| Net book value |  |  |  |
| At 31 December 2024 | 22,178 | 12,836 | 16,545 | 51,559
| At 31 December 2023 | 12,775 | 13,555 | 11,707 | 38,037
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GOLDENPEAKS ADVISERS LIMITED Notes to the Financial Statements For the Year Ended 31 December 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | - | 85,608
|  | - | 85,608
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Due within one year |  |
| Amounts owed by group undertakings | 519,459 | 89,081
| Other debtors | 144,561 | 29,990
| Prepayments and accrued income | 164,816 | 54,984
|  | 828,836 | 174,055
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 30,809 | 66,209
|  | 30,809 | 66,209
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 408,165 | 109,977
| Corporation tax | 43,272 | 26,846
| Other creditors | 25,839 | 11,795
| Accruals and deferred income | 106,459 | 70,838
|  | 583,735 | 219,456
| Included within other creditors are pension contributions amounting to £25,839 (2023: £11,795).
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GOLDENPEAKS ADVISERS LIMITED Notes to the Financial Statements For the Year Ended 31 December 2024
8. | Provisions
|  | Dilapidations
|  | £
| At 1 January 2024 | 24,600
| At 31 December 2024 | 24,600
9. | Related party transactions
| The Company has adopted the exemption permitted by paragraph 33.1A of FRS 102 and has not disclosed transactions with other group members, where the group members are wholly owned.
10. | Controlling party
The immediate parent undertaking is Goldenpeaks Capital Services Limited, a company registered in Malta. The ultimate parent undertaking is Goldenpeaks Capital Holding Limited, a company registered in Malta. The parent undertaking of the smallest group of which the company is a member and consolidated financial statements are prepared is Goldenpeaks Capital Holding Limited. Copies of consolidated financial statements can be obtained from 216, Level 6, Rosa Marina Building, Marina Seafront, Pieta PTA 9041, Malta.
11. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 25 August 2025 by Hannah Clegg (Senior Statutory Auditor) on behalf of Sayers Butterworth LLP.
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