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COMPANY REGISTRATION NUMBER: 06002491

Black Swan Financial Management Limited

Filleted Unaudited Financial Statements

30 November 2025

Black Swan Financial Management Limited

Balance Sheet

30 November 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | – | 2,017
Investments | 6 |  | – | 1
|  | ---- | -------
|  | – | 2,018

Current assets

Debtors | 7 | – |  | 1,109
Cash at bank and in hand | 91,772 |  | 92,030
| -------- |  | --------
| 91,772 |  | 93,139

Creditors: amounts falling due within one year | 8 | 9,584 |  | 22,578
| -------- |  | --------
Net current assets |  | 82,188 | 70,561
|  | -------- | --------
Total assets less current liabilities |  | 82,188 | 72,579
|  | -------- | --------
Net assets |  | 82,188 | 72,579
|  | -------- | --------

Capital and reserves

Called up share capital |  | 100 | 100
Profit and loss account |  | 82,088 | 72,479
|  | -------- | --------
Shareholders funds |  | 82,188 | 72,579
|  | -------- | --------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income (including profit and loss account) has not been delivered.
For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Black Swan Financial Management Limited

Balance Sheet (continued)

30 November 2025
These financial statements were approved by the board of directors and authorised for issue on 2 December 2025 , and are signed on behalf of the board by:

Mr C M Pritchard |
Director |

Company registration number: 06002491

Black Swan Financial Management Limited

Notes to the Financial Statements

Year ended 30 November 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is White Hart House, Silwood Road, Ascot, Berkshire, SL5 0PY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no material judgements, estimates or assumptions.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable in respect of business written during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures & fittings | - | 25% straight line
| Motor vehicles | - | 25% straight line
| Office equipment | - | 25% straight line

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 2 ).
5. Tangible assets

| Fixtures and fittings | Motor vehicles | Equipment | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 December 2024 | 689 | 3,503 | 17,577 | 21,769
Disposals | ( 689) | ( 3,502) | ( 17,577) | ( 21,768)
| ---- | ------- | -------- | --------
At 30 November 2025 | – | 1 | – | 1
| ---- | ------- | -------- | --------
Depreciation |  |  |  |
At 1 December 2024 | 689 | 3,503 | 15,560 | 19,752
Charge for the year | – | – | 2,017 | 2,017
Disposals | ( 689) | ( 3,502) | ( 17,577) | ( 21,768)
| ---- | ------- | -------- | --------
At 30 November 2025 | – | 1 | – | 1
| ---- | ------- | -------- | --------
Carrying amount |  |  |  |
At 30 November 2025 | – | – | – | –
| ---- | ------- | -------- | --------
At 30 November 2024 | – | – | 2,017 | 2,017
| ---- | ------- | -------- | --------

6. Investments

| Shares in group undertakings
| £
Cost |
At 1 December 2024 | 1
Disposals | ( 1)
| ----
At 30 November 2025 | –
| ----
Impairment |
At 1 December 2024 and 30 November 2025 | –
| ----

Carrying amount |
At 30 November 2025 | –
| ----
At 30 November 2024 | 1
| ----

7. Debtors

| 2025 | 2024
| £ | £
Other debtors | – | 1,109
| ---- | -------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Corporation tax | 5,023 | 18,707
Other creditors | 4,561 | 3,871
| ------- | --------
| 9,584 | 22,578
| ------- | --------

9. Director's advances, credits and guarantees
During the year a further £1,064 was advanced by the director so that as at 30 November 2025 £2,064 (2024 £1,000) was owed and will be repaid before 30 November 2026.
10. Reserves
The only movements in equity during the year were in respect of the profit for the year and dividends paid. All of the profit and loss account is distributable