REGISTERED NUMBER: 14781928

PHILO HOLDING COMPANY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 5 APRIL 2023 TO 31 DECEMBER 2023

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

4

3

CURRENT ASSETS

Debtors

5

1,054,532

Cash at bank

3,042,357

4,096,889

CREDITORS

Amounts falling due within one year

6

(4,117,062

)

NET CURRENT LIABILITIES

(20,173

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(20,170

)

CAPITAL AND RESERVES

Share capital

7

1

Retained earnings

(20,171

)

SHAREHOLDERS' FUNDS

(20,170

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2025 and were signed by:

T Paule - Director

1.	GENERAL INFORMATION

The company is a private limited company (limited by shares), which is incorporated and domiciled in England and Wales. The address of the registered office is 55 Ludgate Hill, London, EC4M 7JW.

The company was incorporated on 5 April 2023. These financial statements cover the period from incorporation to 31 December 2023.

The principal activity of the company is that of a holding company.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currency translation

Functional and presentational currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency translations 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.

Going concern

The director considers the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date the financial statements are approved and anticipated cash flows, availability of bank facilities and mitigating actions that can be taken during this period.

Having regard to the above, the director believes it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty of notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

Additions

3

At 31 December 2023

3

Net book value

At 31 December 2023

3

5.

DEBTORS

£

Amounts owed by group undertakings

16,661

Other debtors

1,036,671

Prepayments

1,200

1,054,532

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

12,069

Other creditors

3

Amounts owed to investors

4,096,890

Accruals

8,100

4,117,062

7.	SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

1 USD

1

At the time of incorporation the USD denominated shares were £0.79, the figure shown above have been rounded up.

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption permitted by FRS102 Section 33 'Related party disclosures' not to disclose transactions entered into with other wholly owned members of the group.

During the period, the company received £4,096,118 from one of their investors, in advance of a fellow group company being incorporated, this is a trade related advance. The balance payable at the period end was £4,096,890.

During the period, the company made trade related payments totalling £1,045,972, on behalf of a company under the common control of the director. Payments of £7,587 were made by the same company on behalf of Philo Holding Company Ltd. The balance receivable at the period end was £1,036,671 and is included in other debtors.

9.	POST BALANCE SHEET EVENTS

Subsequent to the year end there was a group reorganisation, as a result the subsidiaries were moved to a newly incorporated company in the UAE on 28 January 2025. This company continues to be one of the shareholders of the UAE company.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T Paule.