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Registered number: 12270056 (England and Wales) BITGO HOLDINGS EMEA, LTD DIRECTOR'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
BITGO HOLDINGS EMEA, LTD
COMPANY INFORMATION
Director | M A Belshe
Company secretary | M A Belshe
Registered number | 12270056
Registered office | Birchin Court
| 5th Floor
| 19-25 Birchin Lane
| London United Kingdom
| EC3V 9DU
Independent auditor | ZEDRA Corporate Reporting Services (UK) Limited
BITGO HOLDINGS EMEA, LTD
CONTENTS
| Page
Balance Sheet | 1
Statement of Changes in Equity | 2
Notes to the Financial Statements | 3 - 7
BITGO HOLDINGS EMEA, LTD REGISTERED NUMBER:12270056
BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Fixed asset investments | 5 |  | 6,348,045 |  | 5,254,818
|  |  | 6,348,045 |  | 5,254,818
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 1 |  | 1 |
|  | 1 |  | 1 |
Total assets less current liabilities |  |  | 6,348,046 |  | 5,254,819
Net assets |  |  | 6,348,046 |  | 5,254,819
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 1 |  | 1
Capital contirbution reserve | 8 |  | 6,348,045 |  | 5,254,818
|  |  | 6,348,046 |  | 5,254,819
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M A Belshe
Director
Date: 30 September 2025
The notes on pages 3 to 7 form part of these financial statements. Page 1
BITGO HOLDINGS EMEA, LTD
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Capital contribution reserve | Total equity
| £ | £ | £
At 1 January 2023 | 1 | 3,516,784 | 3,516,785
Capital contribution | - | 1,738,034 | 1,738,034
At 1 January 2024 | 1 | 5,254,818 | 5,254,819
Capital contribution | - | 1,093,227 | 1,093,227
At 31 December 2024 | 1 | 6,348,045 | 6,348,046
Page 2
BITGO HOLDINGS EMEA, LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.Accounting policies
| 1.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 2). The functional and presentational currency of the Company is Pounds Sterling (GBP) as that is the primary currency in which the entity operates.
| 1.2 | Exemption from preparing consolidated financial statements
The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
| 1.3 | Going concern
The director has considered the ability of the Company to continue as a going concern for at least 12 months from the date of approval of these financial statements. He intends to operate the Company as a non-trading holding company with any financial support required being provided by the ultimate parent company, BitGo Holdings, Inc., who have provided written confirmation that they intend to support the entity for at least 12 months. For this reason the director has adopted the going concern basis in preparing these financial statements.
| 1.4 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in overseas operations are translated at the exchange rate on the date of investment.
| 1.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 1.6 | Capital contributions
Capital contributions are measured at transaction price and held in equity at their historic cost. Page 3
BITGO HOLDINGS EMEA, LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
2. | Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amount of assets and liabilities are addressed below. I mpairment of investments The director has considered the valuation of the investment its subsidiaries and the value in use of each subsidiary based on the current and expected trading results of each subsidiary. The director has confirmed there is no impairment based on there being no indicators of impairment evident from the annual review. This is a significant judgement which may cause material misstatement to these financial statements.
3. | Employees
| The average monthly number of employees during the year was 0 (2023 - 0).
4. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 1 October 2025 by Edward Wallis ACA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited. Page 4
BITGO HOLDINGS EMEA, LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2024 | 5,254,818
| Additions | 1,093,228
| Disposals | (1)
| At 31 December 2024 | 6,348,045
| Additions to fixed asset investments in the year represent increases in capital contributions to subsidiary companies and investments in new subsidiaries in the year. Disposals represent the investment in BitGo UK Ltd which was dissolved on 9 April 2024.
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Registered office | Class of shares | Holding
| BitGo GmbH | Bahnhofstrasse 7 6300 Zug Switzerland | Ordinary | 100%
| BitGo Europe GmbH | Frankfurt am Main Bockenheimer Landstraße 33 Germany | Ordinary | 100%
| BitGo Custody Mena Fze | 503 1-4TEC Floor 2 The Office 3- One Central Dubai World Trade Centre Dubai United Arab Emirates | Ordinary | 100%
| BitGo Mena Fze | EO 66 SRT Floor 25 Sheikh Rashid Tower Dubai World Trade Centre Dubai United Arab Emirates | Ordinary | 100%
Page 5
BITGO HOLDINGS EMEA, LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Subsidiary undertakings (continued)
| Name | Registered office | Class of shares | Holding
| BitGo Europe Aps | Amerika Plads 37 2100 Copenhagen Denmark | Ordinary | 100%
| BitGo Hong Kong Limited | 5/F Manulife Place 348 Kwun Tong Road Kowloon Hong Kong China | Ordinary | 100%
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 1 | 1
|  | 1 | 1
7. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2023 - 1) Ordinary share of £1.00 | 1 | 1
8. | Reserves
Capital contribution reserve The capital contribution reserve represents amounts contributed by the ultimate parent to be invested in the Company's subsidiaries.
9. | Controlling party
BitGo Holdings, Inc., is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is 2443 Ash Street, Palo Alto, California, United States, 94306. Page 6
BITGO HOLDINGS EMEA, LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Post balance sheet events
There were no adjusting or non-adjusting events between the end of the reporting period and the date these financial statements were approved.
Page 7