| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Warwick Company (UK) Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Warwick Company (UK) Limited |
| Warwick Company (UK) Limited (Registered number: 09005808) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Warwick Company (UK) Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Warwick Company (UK) Limited (Registered number: 09005808) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | $ | $ | $ | $ |
| FIXED ASSETS |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Share premium |
| Capital contribution reserve |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
| Warwick Company (UK) Limited (Registered number: 09005808) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The functional currency of Warwick Company (UK) Limited is considered to be United States Dollars because that is the currency of the primary economic environment in which the Company operates. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Warwick Company (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales returns, rebates and discounts. |
| Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement. |
| Financial assets and liabilities |
| All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs). |
| Trade debtors |
| Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivable. |
| Trade creditors |
| Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as amounts falling due after more than one year. |
| Equity instruments |
| Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. |
| Warwick Company (UK) Limited (Registered number: 09005808) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 1. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 United States Dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into United States Dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 3. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| $ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 4. | FIXED ASSET INVESTMENTS |
| 2024 | 2023 |
| $ | $ |
| Shares in group undertakings |
| Other investments in group undertakings |
| Warwick Company (UK) Limited (Registered number: 09005808) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| Additional information is as follows: |
| Shares in |
| group |
| undertakings |
| $ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| Other |
| investments |
| in group |
| undertakings |
| $ |
| At 1 January 2024 |
| New in year |
| At 31 December 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| $ | $ |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| $ | $ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | $ | $ |
| Ordinary A | £0.00 | 1 | 141 | 141 |
| B Preferred | £0.00 | 1 | 8,044 | 8,044 |
| 8,185 | 8,185 |
| Warwick Company (UK) Limited (Registered number: 09005808) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 8. | SUBSEQUENT EVENTS |
| The Company has evaluated the effects of subsequent events through to date of signature of these financial statements. As part of this evaluation, it should be noted that the Company's Chief Executive Officer and Chief Operating Officer's contacts expired, and they left the Company on 4 August 2025. It has been determined that this has no material financial impact on the Company. |
| 9. | SHARE PREMIUM |
| The share premium reserve contains the premium on issue of equity shares, net of issue expenses. |
| 10. | CONTINGENT LIABILITY |
| The Company's issued share capital was initially 100,000 Ordinary A shares and 5,973,836 Series B Preferred shares, which carry a cumulative dividend of 6.0%. Due to its continued retained deficit position, the Company has not declared, accrued or paid any preferred dividends to date, in line with UK Companies Act requirements. The Bermuda Monetary Authority (the subsidiary's insurance regulator) has requested that the Series B preference shares be converted to common equity. As such any liability for unpaid preferred dividends is expected to be extinguished along with the underlying Series B preference shares. |