REGISTERED NUMBER: 13742390 (England and Wales)

Report of the Director and

Financial Statements

for the Year Ended 31 December 2024

for

Aurelius Lion Four Limited

Page

Company Information

1

Report of the Director

2

Report of the Independent Auditors

3

Statement of Income and Retained Earnings

6

Statement of Financial Position

7

Notes to the Financial Statements

8

DIRECTOR:

K Dhir

REGISTERED OFFICE:

3rd Floor

33 Glasshouse Street

London

W1B 5DG

REGISTERED NUMBER:

13742390 (England and Wales)

AUDITORS:

Venture House Business Service Limited

Chartered Accountants and

Statutory Auditors

Venture House

Calne Road

Lyneham

Chippenham

SN15 4PP

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

CHANGE OF NAME

The company passed a special resolution on 11 March 2025 changing its name from Tablet Finance Holdings Limited to Aurelius Lion Four Limited.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of direct lending.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTOR

K Dhir held office during the whole of the period from 1 January 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Venture House Business Service Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

K Dhir - Director

23 September 2025

Opinion

We have audited the financial statements of Aurelius Lion Four Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Director has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Discussions were held with, and enquiries made of, management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Baylis (Senior Statutory Auditor)

for and on behalf of Venture House Business Service Limited

Chartered Accountants and

Statutory Auditors

Venture House

Calne Road

Lyneham

Chippenham

SN15 4PP

3 December 2025

TURNOVER

3

-

8,691

Administrative expenses

161,470

75,519

(161,470

)

(66,828

)

Other operating income

4

2,016,138

3,000,000

OPERATING PROFIT

6

1,854,668

2,933,172

Interest receivable and similar income

2,951,251

727,855

4,805,919

3,661,027

Interest payable and similar expenses

7

2,849,603

756,550

PROFIT BEFORE TAXATION

1,956,316

2,904,477

Tax on profit

8

(636,783

)

636,783

PROFIT FOR THE FINANCIAL YEAR

2,593,099

2,267,694

Retained earnings at beginning of year

1,408,352

(859,342

)

RETAINED EARNINGS AT END OF YEAR

4,001,451

1,408,352

FIXED ASSETS

Investments

10

-

10,774,886

CURRENT ASSETS

Debtors

11

4,873,248

2,636,644

Cash at bank

6,895,903

5,261,883

11,769,151

7,898,527

CREDITORS

Amounts falling due within one year

12

7,368,481

6,087,212

NET CURRENT ASSETS

4,400,670

1,811,315

TOTAL ASSETS LESS CURRENT LIABILITIES

4,400,670

12,586,201

CREDITORS

Amounts falling due after more than one year

13

-

10,778,630

NET ASSETS

4,400,670

1,807,571

CAPITAL AND RESERVES

Called up share capital

14

399,219

399,219

Retained earnings

15

4,001,451

1,408,352

SHAREHOLDERS' FUNDS

4,400,670

1,807,571

The financial statements were approved by the director and authorised for issue on 23 September 2025 and were signed by:

K Dhir - Director

1.	STATUTORY INFORMATION

Aurelius Lion Four 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 company passed a special resolution on 11 March 2025 changing its name from Tablet Finance Holdings Limited to Aurelius Lion Four Limited.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 33.7.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 on going 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.

It is the nature of a company carrying out the business of the granting of loans that some loans become irrecoverable. When reviewing the recoverability of loans granted, the directors use best judgment to determine the need for any provisions or write offs.

The Company relies on the continued support of its ultimate parent AUR Portfolio III SE & Co. KGaA. In reaching the conclusion as to the going concern the director sought and obtained an indication of the support.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investments

For the purpose of determining whether the contractual cash flows are solely payments of principal and interest, the principal is defined as the fair value of the financial asset upon initial recognition. Interest is defined as the compensation for the time value of money and the default risk associated with an outstanding principal amount over a certain time period, and for other fundamental credit risk, costs, and a profit margin.

Classification of long term loans as a fixed asset investment is made to represent the intention of the Company to use these assets on a continuing basis in the company's activities. Those loan principal balances repayable within one year per their repayment terms have been classified as current loan receivables within current debtors.

Loan receivables that are contractually repayable on demand are shown as fixed asset investments if the intent of the Company is not to demand repayment in the near future.

Interest receivable or payable which is unpaid at the year end will be classified as trade debtors or liabilities except where the contract terms allow later repayment.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

4.	OTHER OPERATING INCOME

31.12.24

31.12.23

as

restated

£

£

Other income

2,016,138

3,000,000

Other operating income includes £2,016,138 (2023: £3,000,000) received from administrators relating to a claim for loan interest that would have accrued over the term of a loan. No amounts relating to this income have been previously recognised in this company.

5.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

as

restated

£

£

Wages and salaries

160,000

-

Social security costs

22,080

-

182,080

-

The average number of employees during the year was as follows:

31.12.24

31.12.23

as

restated

1

1

The director is deemed an employee

31.12.24

31.12.23

as

restated

£

£

Director's remuneration

160,000

-

6.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.24

31.12.23

as

restated

£

£

Auditors' remuneration

4,860

4,650

Auditors' remuneration for non audit work

3,360

3,150

Foreign exchange differences

(83,584

)

18,749

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

as

restated

£

£

Loan interest

2,849,603

756,550

8.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the profit for the year was as follows:

31.12.24

31.12.23

as

restated

£

£

Current tax:

UK corporation tax

-

636,783

Adjustment to prior year tax

provision

(636,783

)

-

Tax on profit

(636,783

)

636,783

Reconciliation of total tax (credit)/charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24

31.12.23

as

restated

£

£

Profit before tax

1,956,316

2,904,477

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%)

489,079

683,133

Effects of:

Adjustments to tax charge in respect of previous periods

(636,783

)

-

Group relief claimed

(489,079

)

(46,350

)

Total tax (credit)/charge

(636,783

)

636,783

An increase in the main UK corporation tax rate from 19% to 25%, applicable from 1 April 2023, was enacted on 10 June 2021 in Finance Act 2021

9.	PRIOR YEAR ADJUSTMENT

£1,627,576 relating to a loan and accrued interest was incorrectly included within amounts owed by group undertakings. This has been reclassified as other debtors.

10.	FIXED ASSET INVESTMENTS

Other

loans

£

At 1 January 2024

10,774,886

New in year

2,749,125

Repayment in year

(13,524,011

)

At 31 December 2024

-

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as

restated

£

£

Amounts owed by group undertakings

648,960

1,000,377

Other debtors

4,224,288

1,636,267

4,873,248

2,636,644

Included in the above is £4,844,147 (2023: £1,627,576) relating to formal interest bearing term loans.

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as

restated

£

£

Trade creditors

1,756

791

Amounts owed to group undertakings

7,174,881

5,441,268

Tax

-

636,783

Accrued expenses

191,844

8,370

7,368,481

6,087,212

Included in the above is £3,943,693 (2023: £1,305,319) relating to a formal interest bearing term loan.

13.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

as

restated

£

£

Amounts owed to group undertakings

-

10,778,630

14.	CALLED UP SHARE CAPITAL

Allotted, called up and fully paid

31.12.24

31.12.23

£

£

75,001

Ordinary shares of £1 each

75,001

75,001

372,475

Ordinary shares of €1 each

324,218

324,218

399,219

399,219

15.

RESERVES

Retained

earnings

£

At 1 January 2024

1,408,352

Profit for the year

2,593,099

At 31 December 2024

4,001,451

16.	ULTIMATE PARENT COMPANY

AUR Portfolio III SE & Co. KGaA (incorporated in Germany ) is regarded by the director as being the company's ultimate parent company.

The Company is included in the group accounts prepared by the ultimate parent company, copies of which can be obtained from Ludwig-Ganghofer Strasse 6, 82031 Gruenwald, Germany. The smallest and largest group preparing consolidated accounts in which the Company's results are included is that headed by AUR Portfolio III SE & Co. KGaA..

The immediate parent company is Aurelius Impala Holding Limited.

17.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Other related parties

At the beginning of the year there was a balance of £10,774,886 due from companies with significant influence over key management. During the year loan interest of £2,749,125 was charged and the loan was repaid in full.

A loan was provided to a company outside the group. The purpose of the loan was to enable the company to provide a loan to a company within the group headed by AUR Portfolio III SE & Co KgaA. The loan is included in other debtors and the amount of the loan and accrued interest is £4,210,816 (2023: £1,627,576). The loan is repayable on demand if the company to which the onward loan is provided leaves the group. During the year interest of £168,795 was charged.

18.	GOING CONCERN

It is the intention of the company and its ultimate parent that it will continue to trade for at least twelve months from the date of the audit report. To this regard the ultimate parent company intends to offer such support as may be necessary to ensure this.