REGISTERED NUMBER: 12376424 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 NOVEMBER 2023 TO 31 DECEMBER 2024

FOR

APO GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D A Sennett

J Cator

REGISTERED OFFICE:

Windover House

St Ann Street

Salisbury

SP1 2DR

BUSINESS ADDRESS:

201 Borough High Street

London

SE1 1JA

REGISTERED NUMBER:

12376424 (England and Wales)

ACCOUNTANTS:

Fawcetts LLP

Chartered Accountants

Windover House

St. Ann Street

Salisbury

SP1 2DR

FIXED ASSETS

Tangible assets

4

8,127

8,026

Investments

5

1

1

8,128

8,027

CURRENT ASSETS

Debtors

6

446,912

666,574

Cash at bank

106,032

884,864

552,944

1,551,438

CREDITORS

Amounts falling due within one year

7

1,090,466

2,520,392

NET CURRENT LIABILITIES

(537,522

)

(968,954

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(529,394

)

(960,927

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

(529,395

)

(960,928

)

SHAREHOLDERS' FUNDS

(529,394

)

(960,927

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

D A Sennett - Director

1.	STATUTORY INFORMATION

Apo Group Limited is a private company, limited by shares, registered in England & Wales. The company's registered number and registered office address can be found on the Company Information page. The nature of the company's operations and its principal activities are set out in the Report of the Directors.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The company is dependent upon the support of its parent company Broadsword Investment Management Ltd. The directors of the parent company have indicated that they do not intend to withdraw support for a period of at least 12 months from the date of approval of these financial statements. The directors therefore consider that the going concern basis is appropriate. The financial statements do not contain any adjustments that might be necessary were the going concern basis to be no longer appropriate.

The financial statements are presented in Sterling (£) which is the functional currency of the company.

The company transitioned from FRS 101 to FRS 102 as at 1 November 2023. At the date of transition no restatements were required.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebate and value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Pension costs and other post-retirement benefits

The company contributes to the individual defined contribution pension scheme of employees. Contributions are charged to profit or loss in the period to which they relate.

Investments in subsidiaries

Investments held as fixed assets are stated at cost less any provision for impairment.

Debtors

Debtors are measured at their recoverable amount.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

Creditors

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2023

19,296

Additions

7,082

At 31 December 2024

26,378

DEPRECIATION

At 1 November 2023

11,270

Charge for period

6,981

At 31 December 2024

18,251

NET BOOK VALUE

At 31 December 2024

8,127

At 31 October 2023

8,026

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2023

and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 October 2023

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

68,469

499,391

Amounts owed by group undertakings

123,735

150,015

Other debtors

254,708

17,168

446,912

666,574

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,971

1,787

Amounts owed to group undertakings

774,423

2,077,406

Taxation and social security

65,331

161,879

Other creditors

246,741

279,320

1,090,466

2,520,392

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

105,780

-

Between one and five years

61,705

-

167,485

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

£1

1

1

10.	CONTINGENT LIABILITIES

The company has provided a cross-guarantee to Strategic Consolidated Income Fund LLC in respect of a revolving loan facility provided to Broadsword Investment Management Ltd. The total guarantee is for a maximum of £5,000,000.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company's related party transactions with partially-owned subsidiaries within the group are summarised below:

Transactions

2024

2023

£

£

Recharges from Eco World Management & Advisory Services (UK) Limited

-

2,000

Recharges from Eco World London Development Company Limited

-

28,160

-

30,160

Recharges to Eco World London Development Company Limited

-

35,739

Balances

2024

2023

£

£

Loan due to Eco World London Holdings Limited

-

2,077,406

Loan due from Hubbl UK Limited

79,992

-

79,992

2,077,406

All transactions with related parties are conducted on an arm's length basis. All amounts due are settled in cash.

No director had any material interest, during the period, in any contract which was significant in relation to the business of the company and would have been required to be disclosed under the Companies Act 2006.

12.	ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

Prior to 4 July 2024, Eco World London Holdings Limited, a company incorporated in England, was considered to be the immediate parent company, and Be Eco World Investment Company Limited, a company incorporated in England, was considered to be the ultimate parent company.

From 4 July 2024, the immediate and ultimate parent company became Broadsword Investment Management Ltd, a company incorporated in England, which is registered at 53 Davies Street, Mayfair, London, W1K 5JH.

In the opinion of the directors, no one individual has control of the ultimate parent company Broadsword Investment Management Ltd.