Company No: 15392586 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Antonia Louise Bristowe (Appointed 27 August 2024)
	Thomas Alan Bristowe (Appointed 06 January 2024)

REGISTERED OFFICE	C/O Trethowans Llp The Pavilion
	Botleigh Grange Business Park
	Hedge End
	Southampton
	SO30 2AF
	United Kingdom

COMPANY NUMBER

15392586 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	4th Floor Cumberland House
	15-17 Cumberland Place
	Southampton
	Hampshire
	SO15 2BG

	Note	31.01.2025
		£
Fixed assets
Investments	3	3,146,690
		3,146,690
Current assets
Debtors	4	200
Cash at bank and in hand		24,471
		24,671
Creditors: amounts falling due within one year	5	( 3,008,623)
Net current liabilities		(2,983,952)
Total assets less current liabilities		162,738
Provision for liabilities	6	( 38,900)
Net assets		123,838
Capital and reserves
Called-up share capital	7	200
Profit and loss account		123,638
Total shareholders' funds		123,838

For the financial period ending 31 January 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 financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Blackdown Asset Management Limited (registered number: 15392586) were approved and authorised for issue by the Board of Directors on 22 October 2025. They were signed on its behalf by:

Thomas Alan Bristowe Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Blackdown Asset Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Trethowans Llp The Pavilion, Botleigh Grange Business Park, Hedge End, Southampton, SO30 2AF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Blackdown Asset Management Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

	Period from 06.01.2024 to 31.01.2025
	Number
Monthly average number of persons employed by the Company during the period, including directors	2

3. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 06 January 2024	0		0
Additions	3,046,533		3,046,533
Disposals	( 64,244)		( 64,244)
Change in value of loans receivable	164,401		164,401
At 31 January 2025	3,146,690		3,146,690
Carrying value at 31 January 2025	3,146,690		3,146,690

4. Debtors

	31.01.2025
	£
Other debtors	200

5. Creditors: amounts falling due within one year

	31.01.2025
	£
Amounts owed to directors	3,000,000
Accruals	7,560
Taxation and social security	1,063
	3,008,623

6. Deferred tax

	31.01.2025
	£
At the beginning of financial period	0
Charged to the Statement of Income and Retained Earnings	( 38,900)
At the end of financial period	( 38,900)

7. Called-up share capital

	31.01.2025
	£
Allotted, called-up and fully-paid
500 Ordinary A shares of £ 0.10 each	50
500 Ordinary B shares of £ 0.10 each	50
1,000 Ordinary C shares of £ 0.10 each	100
	200

8. Related party transactions

At the year end, the Company owed the director £3,000,000. This loan is unsecured, interest free and repayable on demand.