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Registration number: 15470013

Prepared for the registrar
Fundaz Limited
Annual Report and Unaudited Financial Statements
for the Period from 6 February 2024 to 31 March 2025

Fundaz Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Fundaz Limited

Company Information

Directors | Mr T J Masamha Mrs R R Masamha

Registered office | 77 Westbourne Avenue Hull HU5 3HW

Accountants | Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Fundaz Limited

(Registration number: 15470013)
Balance Sheet as at 31 March 2025

| Note | 2025 £
Fixed assets |  |
Investment property | 4 | 131,434
Investments | 5 | 1,227,689
|  | 1,359,123
Current assets |  |
Cash at bank and in hand |  | 218
Creditors: Amounts falling due within one year | 6 | (719,331)
Net current liabilities |  | (719,113)
Total assets less current liabilities |  | 640,010
Creditors: Amounts falling due after more than one year | 6 | (688,136)
Net liabilities |  | (48,126)
Capital and reserves |  |
Called up share capital |  | 100
Retained earnings |  | (48,226)
Shareholders' deficit |  | (48,126)

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 October 2025 and signed on its behalf by:

Mr T J Masamha
Director

Fundaz Limited

Notes to the Unaudited Financial Statements for the Period from 6 February 2024 to 31 March 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
77 Westbourne Avenue
Hull
HU5 3HW

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company is reliant on loans from Tavita Ltd and John Carrington Ltd of £26,720 and £223,455 respectively, as well as bank loans of £707,667. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Fundaz Limited

Notes to the Unaudited Financial Statements for the Period from 6 February 2024 to 31 March 2025

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
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 the 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 on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Fundaz Limited

Notes to the Unaudited Financial Statements for the Period from 6 February 2024 to 31 March 2025

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

| 4 | Investment properties

| £
At 6 February 2024 | -
Additions | 131,434
At 31 March 2025 | 131,434

The directors are of the opinion that the value shown reflects the current market value of the investment property based on information available for other comparable properties.

| 5 | Investments

| 2025 £
Investments in subsidiaries | 1,227,689

Subsidiaries | £
Cost
Additions | 1,227,689
Provision
Carrying amount
At 31 March 2025 | 1,227,689

Fundaz Limited

Notes to the Unaudited Financial Statements for the Period from 6 February 2024 to 31 March 2025

| 6 | Creditors

| Note | 2025 £
Due within one year |  |
Loans and borrowings | 7 | 467,656
Amounts due to related parties | 8 | 250,175
Accruals and deferred income |  | 1,500
|  | 719,331

| Note | 2025 £
Due after one year |  |
Loans and borrowings | 7 | 688,136

| 2025 £
After more than five years by instalments | 610,009

| -

| 7 | Loans and borrowings

Current loans and borrowings

| 2025 £
Bank borrowings | 19,531
Other borrowings | 448,125
| 467,656

Non-current loans and borrowings

| 2025 £
Bank borrowings | 688,136

The bank loans are secured by fixed and floating charges over the assets of the company.

Fundaz Limited

Notes to the Unaudited Financial Statements for the Period from 6 February 2024 to 31 March 2025

| 8 | Related party transactions

Summary of transactions with key management

Key management personnel are considered to be the directors of the company. As at the balance sheet date, the directors were owed £508,966. There are no fixed repayment terms and no interest is charged.

Summary of transactions with parent

Tavita Limited At the balance sheet date, the company owed Tavita Ltd £26,720. There are no fixed repayment terms and no interest is charged.

Summary of transactions with subsidiaries

John Carrington Limited At the balance sheet date, the company owed John Carrington Limited £223,455. There are no fixed repayment terms and no interest is charged.