REGISTERED NUMBER: 10078767 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 December 2024

for

Asset Capital Management UK Limited

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

16

DIRECTOR:

A S Vasdev

REGISTERED OFFICE:

The Bower

207-211 Old Street

London

EC1V 9NR

REGISTERED NUMBER:

10078767 (England and Wales)

SENIOR STATUTORY AUDITOR:

Costas Morfakis

AUDITORS:

Georgiou & Prasanna LLP (Statutory Auditors)

Block E, 2nd Floor

286a Chase Road

London

N14 6HF

The directors present their strategic report for the year end 31 December 2024.

Asset Capital Management UK Limited (the 'company') was incorporated in 2016 and provided financial intermediation until 2021. From March 2024 the company started providing investment management services. The company is based in the UK and is a MiFID investment firm. The company is authorised by the Financial Conduct Authority (FCA) for specific activities and product types such as advising on investments (except on Pension Transfers and Pension Opt Outs), arranging (bringing about) deals in investments and dealing in investments as agent (and other).

The company is owned by Asset Management Holdings Ltd, a company registered in England and Wales. It was previously owned by Petra Capital Group Ltd (dissolved 9 May 2023) which was also registered in England and Wales.

REVIEW OF BUSINESS

The company had sales of £277 (31 December 2023: £nil) of regulated products during the period under review.

The company reported a loss of £32,954 during the year (31 December 2023: loss of £20,229). The company generated £2,500 of other income through intragroup consultancy services (31 December 2023: £10,000). Net assets at 31 December 2024 were £470,224 (31 December 2023: £363,178).

During the period the company issued 140 ordinary shares for £140,000 (including share premium of £139,860) to its parent company, Asset Management Holdings Ltd.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have carried out an assessment of the principal risks facing the company which are outlined below.

Legal & Regulatory risk

The company operates in a strictly regulated industry and is therefore subject to compliance risk with respect to a number of laws and regulations. The breaching of any applicable laws or regulations could result in an inability to operate.

The Legal, Compliance and Risk functions in the business support the directors with monitoring developments which includes the use of compliance and fraud monitoring tools to assist with the anti-money laundering and other screening activities undertaken by the functions. Appropriate measures are taken should any particular risk change significantly.

Operational risk

Technology systems are central to the company's business operations and are highly sensitive to any incidents or outages for a period of time which could have an impact on the company's operations. Loss of commercial or personal data could damage the business or the company's reputation and result in financial penalties.

The company has mechanisms in place to protect it from data and security breaches which include regular vulnerability and penetration testing.

Capital adequacy

As an FCA regulated entity the company is required to ensure its capital exceeds a minimum threshold at all times. For the company this means its capital (comprising share capital, share premium, capital contribution and retained earnings) and own funds must exceed £470,000 from 1 January 2025 ( £610,000 from 1 January 2026). The directors monitor this closely to ensure sufficient headroom, which has been the case throughout the year.

SECTION 172(1) STATEMENT

This section of the report describes how the directors have had regard to the matters set out in Section 172(1) (a) to (f) and forms the directors' statement required under Section 414CZA of the Companies Act 2006. The Directors are required to act in a way to promote the success of the company for the benefits of all its stakeholders and in doing so consider the following matters:

Long-term decision making

The directors' commitment to long-term decision making is set out throughout the rest of this strategic report.

Impact on the environment

The company also remains mindful of its impact on the environment and seeks to minimise this where possible. As an office-based technology business, its impact on the environment is relatively light by its business operations which are delivered electronically.

Impact of staff travelling to the office is also minimal as staff generally use public transport with the offices located close to public transport links. Hybrid working has further reduced any footprint of traveling to the office on regular basis.

The level of paper consumption in the office is very low with most documents obtained, stored and accessed electronically. The offices are equipped with recycling facilities and filtered drinking water for the refill of water bottles. Furthermore, client contacts and communications are generally conducted electronically and consequently with little carbon footprint.

Reputation for high standards of business conduct

It is the intention of the directors to behave responsibly and ensure that the business is operated in a responsible manner, within the high standards of business and regulatory conduct expected.

Fair treatment of shareholders

As a Board of directors, the intention is to behave responsibly toward the shareholders, recognising the company's obligation is to generate value for them whilst balancing the needs of all stakeholders.

CLIMATE CHANGES AND THE BUSINESS

The company's direct immediate exposure to climate change risk is minimal. The directors regularly review potential impacts of climate change. The company is not highly exposed to climate related risks at present.

The directors will continue to monitor the potential impacts of climate change on the business but there are not expected to be any material detriments in the short to medium term planning horizon.

KEY PERFORMANCE INDICATORS (KPIS)

The company's principal business KPls for the year are as below:

- Administrative expenses of £35,731 (31 December 2023: £30,229)

- Operating loss of £32,954 (31 December 2023: loss of £20,229)

The company has selected these financial KPls to measure and assess its performance. The company closely monitors controllable expenses and uses total administrative expenses items to measure these.

ON BEHALF OF THE BOARD:

A S Vasdev - Director

30 September 2025

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

CHANGE OF NAME

The company passed a special resolution on 13 November 2024 changing its name from Eurotrade Capital ltd to Asset Capital Management UK Limited.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of investment portfolio management.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

A S Vasdev has held office during the whole of the period from 1 January 2024 to the date of this report.

Other changes in directors holding office are as follows:

M R Couper - resigned 31 July 2024

ENGAGEMENT WITH EMPLOYEES

The company is an equal opportunity employer, and its employees and applicants are treated fairly regardless of their age, colour, creed, disability, full or part-time status, gender, marital status, nationality or etnic origin, race, religion or sexual orientation.

The company has a small number of employees and a flat organisational structure which always allows immediate and direct access for all employees to senior management. In addition, there are regular meetings with staff, communications by email as well as staff training.

The company does not have a specific human rights policy. However, human rights are not deemed a material risk for the business due to the developed cuture of ethical business practice and strong labour regulation present in the UK.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

Company's relationships with their customers and suppliers and others are key parts of the Company's business and are managed through a system of internal policies and procedures such as: Conflict of Interest Policy, Infomation Security Policy, Conduct of Business and other policies. All complaints are managed by the Compliance Manager and monitored and treated with appropriate care and attention.

STREAMLINED ENERGY AND CARBON REPORTING

The Streamlined Energy and Carbon Reporting ("SECR") framework set by the UK government requires that UK based quoted and large unquoted companies make specific disclosures within their financial statements in relation to their energy and carbon usage. The company is not liable for any direct liabilities for power supply as the rent of their serviced office space is inclusive of such costs. The company has continued to utilise hybrid working arrangements since returning to the office after the end of covid-19 pandemic restrictions. This is continuing to significantly reduce the directors', who are the only employees of the company, travel to the office by public transport, and the associated carbon emissions. The company does not operate any fossil fuel, hybrid or electric cars for its directors. The serviced office building the company occupies was reconstructed and opened in 2019 using sustainably sourced materials and carbon saving techniques and to then current energy and carbon saving standards. The company considers that for the period under review the share of energy used in the office by the two directors under hybrid working arrangements would have been considerably less than 40Mwh for the year and it would be exempt from making further disclosures under the relevant legislation as it would be defined as a low energy user.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Georgiou & Prasanna LLP (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A S Vasdev - Director

30 September 2025

Opinion

We have audited the financial statements of Asset Capital Management UK Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Fraud risk assessment

To identify risks of material misstatement due to fraud ("fraud risks") we assessed events or conditions that could indicate an incentive or pressure by management to commit, or provide an opportunity to commit, fraud. Our risk assessment procedures included:

- Enquiries of management and internal accounting staff, concerning the company's policies and procedures relating to:

- detecting and responding to the risks of fraud; and

- internal controls established to mitigate risks related to fraud;

- Enquiries of management and internal accounting staff as to whether they had knowledge of any actual, suspected or alleged fraud;

- Discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. The engagement team includes the audit partner, manager and staff who have extensive experience of working with companies in this sector, and this experience was relevant to the discussion about where fraud risks may arise.

Risk communications

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

Fraud risks

As required by auditing standards we addressed the risk of management override of controls and the risk of fraudulent revenue recognition. In particular we considered the risk that revenue is recorded in the wrong period and the risk that the company's management may be in a position to make inappropriate accounting entries, and the risk of bias in accounting estimates and judgments.

Procedures to address fraud risks

Our audit procedures included evaluating the design and implementation, and operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures including:

- Review journal entries to supporting documentation and review for any unusual journal descriptions;

- Assessing significant accounting estimates for bias;

- Obtaining third party confirmations for all bank balances and material debtors and creditors balances; and

- Assessing when revenue was recognised, particularly focusing on revenue recognised in the days before and after the year end date, and whether it was recognised in the correct year.

Laws and regulations- Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

Risk assessment

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements. For this risk assessment, matters considered included the following:

- our general commercial and technology based financial intermediation sector experience;

- discussion with the management of the company (as required by auditing standards)

- inspection of the company's regulatory and legal correspondence; and

- discussions with the directors and other management about the policies and procedures regarding compliance with laws and regulations.

Risk communications

Our communication of laws and regulations risks was made throughout our team and we remained alert to any indications of non-compliance throughout the audit.

Direct laws context and link to audit

The potential effect of laws and regulations on the financial statements varies considerably. The company is subject to United Kingdom laws and regulations, such as the Companies Act 2006. Other relevant rules and regulations include the following:

- financial reporting legislation (including related UK companies' legislation)

- taxation legislation (direct and indirect) in the company's countries of operation.

- Financial Conduct Authority (FCA) and its Handbook section COBS

- Prudential Sourcebook MIFIDPRU.

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Most significant indirect law/ regulation areas

Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or harm to the company's ability to operate.

We identified the following area as those most likely to have such an effect:

- Health , safety, welfare and fire safety

- Anti-bribery fraud and corruption

- Anti-money laundering regulations

- Financial Services and Markets Act 2000

- United Kingdom employment law

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of law or regulations is not disclosed to us or evident from relevant correspondence, our audit will not detect that breach.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Costas Morfakis (Senior Statutory Auditor)

for and on behalf of Georgiou & Prasanna LLP (Statutory Auditors)

Block E, 2nd Floor

286a Chase Road

London

N14 6HF

30 September 2025

TURNOVER

277

-

Administrative expenses

(35,731

)

(30,229

)

(35,454

)

(30,229

)

Other operating income

2,500

10,000

OPERATING LOSS and

LOSS BEFORE TAXATION

(32,954

)

(20,229

)

Tax on loss

6

-

-

LOSS FOR THE FINANCIAL YEAR

(32,954

)

(20,229

)

LOSS FOR THE YEAR

(32,954

)

(20,229

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(32,954

)

(20,229

)

CURRENT ASSETS

Debtors

7

25,184

20,500

Cash at bank

466,640

360,278

491,824

380,778

CREDITORS

Amounts falling due within one year

8

(21,600

)

(17,600

)

NET CURRENT ASSETS

470,224

363,178

TOTAL ASSETS LESS CURRENT LIABILITIES

470,224

363,178

CAPITAL AND RESERVES

Called up share capital

9

70,025

69,885

Share premium

10

618,190

478,330

Retained earnings

10

(217,991

)

(185,037

)

SHAREHOLDERS' FUNDS

470,224

363,178

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

A S Vasdev - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2023

69,700

(164,808

)

291,800

196,692

Changes in equity

Issue of share capital

185

-

186,530

186,715

Total comprehensive income

-

(20,229

)

-

(20,229

)

Balance at 31 December 2023

69,885

(185,037

)

478,330

363,178

Changes in equity

Issue of share capital

140

-

139,860

140,000

Total comprehensive income

-

(32,954

)

-

(32,954

)

Balance at 31 December 2024

70,025

(217,991

)

618,190

470,224

Cash flows from operating activities

Cash generated from operations

1

(33,638

)

(30,568

)

Net cash from operating activities

(33,638

)

(30,568

)

Cash flows from financing activities

Share issue

140,000

186,715

Net cash from financing activities

140,000

186,715

Increase in cash and cash equivalents

106,362

156,147

Cash and cash equivalents at beginning of year

2

360,278

204,131

Cash and cash equivalents at end of year

2

466,640

360,278

1.	RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24

31.12.23

£

£

Loss before taxation

(32,954

)

(20,229

)

Increase in trade and other debtors

(4,684

)

(9,439

)

Increase/(decrease) in trade and other creditors

4,000

(900

)

Cash generated from operations

(33,638

)

(30,568

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

466,640

360,278

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

360,278

204,131

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank

360,278

106,362

466,640

360,278

106,362

466,640

Total

360,278

106,362

466,640

1.	STATUTORY INFORMATION

Asset Capital Management UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activities of the company and the nature of the company's operations are set out in the Report of the Director on page 4.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Accruals

Accruals are recognised where the company has a present obligation for goods or services received at the reporting date but not yet invoiced. Accruals are measured at the best estimate of the amount required to settle the obligation, based on the terms of the underlying agreement or expected cost of services provided.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 Sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The Ultimate Beneficial Owner has indicated his willingness to inject sufficient funds to ensure the company can satisfy the FCA's capital adequacy requirements and consequently the directors consider it appropriate to prepare the financial statements on the going concern basis.

Functional and presentational currency

The functional currency of the company is considered to be pound sterling because that is the currency of the primary economic environment in which the company operates and is the currency in which its revenues are earned. The financial statements are also presented in pund sterling.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The company recognises an accrual for audit fees based on the agreed audit engagement terms and expected scope of work. As the final fee is confirmed only after completion of the audit, management applies judgement in estimating the appropriate accrual at the reporting date. The estimate reflects past experience and current year engagement discussions.

4.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 December 2024 nor for the year ended 31 December 2023.

The average number of employees during the year was as follows:

31.12.24

31.12.23

Management

2

2

31.12.24

31.12.23

£

£

Directors' remuneration

-

-

5.	OPERATING LOSS

The operating loss is stated after charging:

31.12.24

31.12.23

£

£

Auditors' remuneration

21,600

12,000

6.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

190

-

Other debtors

23,000

20,500

Prepayments and accrued income

1,994

-

25,184

20,500

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

-

800

Accrued expenses

21,600

16,800

21,600

17,600

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

70,025

Ordinary

£1

70,025

69,885

140 Ordinary shares of £1 each were allotted as fully paid at a premium of £999 per share during the year. All shares are held by the parent..

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2024

(185,037

)

478,330

293,293

Deficit for the year

(32,954

)

(32,954

)

Cash share issue

-

139,860

139,860

At 31 December 2024

(217,991

)

618,190

400,199

11.	RELATED PARTY DISCLOSURES

The key management personnel during the period were the directors Ajay Vasdev and Martin Couper (resigned 31 July 2024).

During the year the company earned commission income of £277 (2023: £nil) from the provision of portfolio management services to Eurotrade Investments RGB Ltd, a company under common control of the same ultimate beneficial owner. At the balance sheet date, £190 (2023: £nil) was outstanding and is included within Trade debtors. The balance is unsecured, interest-free and repayable on demand. At the balance sheet date £87 (2023: £nil) is included in prepayments and accrued income as the invoice for these services was raised after the year end. The balance is unsecured, interest-free and repayable on demand.

During the year the company provided consultancy services to Eurotrade Investments RGB Limited, a company under common control of the same ultimate beneficial owner, totalling £2,500 (2023: £10,000). At the balance sheet date, £22,500 (2023: £20,000) was outstanding and is included within Other debtors. The balance outstanding reflects both the current year and prior years' invoices and is unsecured, interest-free, and is due to be settled through intercompany set-off arrangements at group level, which management expects to be completed by the last quarter of 2025 or earlier. No provision has been made against this balance, as management considers it fully recoverable

Included within Other debtors is an amount of £500 (2023: £500) due from the parent company, Asset Management Holdings Ltd (the 'parent'). This balance originated prior to the acquisition of the company by the current parent and was transferred to the parent on completion of the transaction. The amount is unsecured, interest-free and repayable on demand. The directors consider the balance to be fully recoverable.

12.	AUDITOR LIABILITY LIMITATION AGREEMENT

In accordance with sections 532 to 538 of the Companies Act 2006, the company entered into an agreement with its statutory auditor, Georgiou & Prasanna LLP, dated 27 March 2025 and signed on behalf of the company on 6 April 2025. The agreement contains a provision, set out in Clause 4 of the engagement letter, that limits the liability of the auditor to the company arising from the statutory audit of the financial statements for the year ended 31st December 2024. This limitation of liability agreement was formally approved by the company's sole member, Asset Management Holdings Ltd, by ordinary resolution passed on 6th April 2025.

13.	POST BALANCE SHEET EVENTS

On 31 March 2025, the company issued 5 ordinary shares of £1 each, fully paid, at a premium of £999 per share. On 28 April 2025 the company issued 50 ordinary shares of £1 each, fully paid, at a premium of £999 per share. All shares are held by the parent.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ozan Ozerk.

The company's immediate parent is Asset Management Holdings Ltd.

Asset Management Holdings Ltd is a UK registered company.

Registered office address:

The Bower

207-211 Old Street

London

EC1V 9NR