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REGISTERED NUMBER: 06665997 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Primrose Capital (UK) Limited

Primrose Capital (UK) Limited (Registered number: 06665997)

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 |

Primrose Capital (UK) Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | H.E Dr A M A B N Almazrouei

| Mr Q H Bhatti

| SECRETARY: | Oakwood Corporate Secretary Limited

| REGISTERED OFFICE: | 3rd Floor

| 1 Ashley Road

| Altrincham

| Cheshire

| WA14 2DT

| REGISTERED NUMBER: | 06665997 (England and Wales)

| ACCOUNTANTS: | CWF & Partners Ltd

| Chartered Accountants

| Freedman House

| Christopher Wren Yard

| 117 High Street

| Croydon

| Surrey

| CR0 1QG

Primrose Capital (UK) Limited (Registered number: 06665997)

Balance Sheet

31 December 2024

| 31.12.24 | 31.12.23 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 5 | - |  | 417,399 |  |

CURRENT ASSETS

Debtors | 6 | 16,519 |  | 22,924 |  |

CREDITORS

Amounts falling due within one year | 7 | 189,441 |  | 189,350 |  |

NET CURRENT LIABILITIES | (172,922 | ) | (166,426 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (172,922 | ) | 250,973 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 1,000 |  | 1,000 |  |

Share premium | 9 | 416,400 |  | 416,400 |  |

Retained earnings | 9 | (590,322 | ) | (166,427 | ) |

SHAREHOLDERS' FUNDS | (172,922 | ) | 250,973 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2025 and were signed on its behalf by:

Mr Q H Bhatti - Director

Primrose Capital (UK) Limited (Registered number: 06665997)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Primrose Capital (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 presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Investments in joint ventures

| An entity is treated as a joint venture where the company holds a long term interest and shares control under a contractual agreement.

| Investments in joint ventures are recognised at cost.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2023 - 1 ) .

5. | FIXED ASSET INVESTMENTS

| Interest

| in joint

| venture

£ |

| COST

| At 1 January 2024 | 417,399 |  |

| Impairments | (417,399 | ) |

| At 31 December 2024 | - |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  |

| At 31 December 2023 | 417,399 |  |

Primrose Capital (UK) Limited (Registered number: 06665997)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | FIXED ASSET INVESTMENTS - continued

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Joint venture

| Primrose GMBH & Co. Hotelbetriebs KG

| Registered office: Hardenbergstraße 28, 10623 Berlin, Germany

| Nature of business: Hotel

| %

| Class of shares: | holding |

| Partnership interest |

| 31.12.24 |  | 31.12.23

£ | £ |

| Aggregate capital and reserves | - |  | (69,355,335 | ) |

| Loss for the year | - |  | (5,729,179 | ) |

| The company was the General Partner in Primrose Limited & Co. Hotelbetriebs KG and shared control with the Limited Partner of the partnership under a limited partnership agreement. On 15 August 2024 the company withdrew from this partnership.

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Amounts owed by joint ventures | - |  | 22,924 |  |

| Other debtors | 16,519 |  | - |  |

16,519 |  | 22,924 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Amounts owed to group undertakings | 187,551 |  | 187,550 |  |

| Other creditors | 1,890 |  | 1,800 |  |

189,441 |  | 189,350 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.24 |  | 31.12.23

| value: | £ | £ |

| 1,000 | Ordinary | £1 | 1,000 |  | 1,000 |  |

9. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 January 2024 | (166,427 | ) | 416,400 |  | 249,973 |  |

| Deficit for the year | (423,895 | ) | (423,895 | ) |

| At 31 December 2024 | (590,322 | ) | 416,400 |  | (173,922 | ) |

Primrose Capital (UK) Limited (Registered number: 06665997)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

10. | ULTIMATE PARENT COMPANY

| The ultimate and immediate parent company is Falcon Universal Limited, a company incorporated in Seychelles.