REGISTERED NUMBER: 11625638 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

TPIO LTD

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Profit and loss account

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

T M O'Connor

I Pigney

REGISTERED OFFICE:

7 Aylestone Avenue

London

NW6 7AE

REGISTERED NUMBER:

11625638 (England and Wales)

AUDITORS:

Thompson Taraz Rand Audit and Assurance Limited

Statutory Auditors

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

The directors present their report with the financial statements of the company for the year ended 30 April 2025.

DIRECTORS

T M O'Connor has held office during the whole of the period from 1 May 2024 to the date of this report.

Other changes in directors holding office are as follows:

I Pigney - appointed 17 July 2024

S Del Federico - resigned 17 July 2024

EXEMPTION TO PREPARE A STRATEGIC REPORT

The company has elected to apply Section 414B(2A) of the Companies Act 2006 not to prepare a Strategic Report on the basis that it is consolidated into group financial statements of its parent entity which will prepare a Group Strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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 directors are 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 each director 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, Thompson Taraz Rand Audit and Assurance Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

T M O'Connor - Director

21 August 2025

Opinion

We have audited the financial statements of TPIO Ltd (the 'company') for the year ended 30 April 2025 which comprise the Profit and loss account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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, except for the possible effects of the matter described in the Basis for Qualified Opinion section of our report, the financial statements:

give a true and fair view of the state of the company’s affairs as at 30 April 2025 and of its loss 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 qualified opinion

Opening balances

We were appointed as auditors of the company during the year and were not able to obtain sufficient appropriate audit evidence regarding the opening balances as at 1 May 2024. The opening balances include comparative figures and may affect the results for the year ended 30 April 2025. We were unable to satisfy ourselves by alternative means concerning these opening balances. Consequently, we were unable to determine whether any adjustments to the results of the current year and comparative figures might have been necessary.

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 Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the company in accordance with the ethical requirements 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 qualified opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Emphasis of matter

We draw attention to note 9 of the financial statements, which explains that the comparative information for the period ended 30th April 2024 has been restated.

The company financial statements were originally prepared in accordance with FRS 102 Section 1A Small Entities. The company was ineligible to apply Section 1A under Section 383 of the Companies Act 2006 and therefore comparative information has been restated specifically to comply with the presentation and disclosure requirements of related party transactions under Section 33 of FRS 102. No other material amounts or disclosures are considered to require restatement. Our opinion is not modified in respect of this matter.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, 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.

The comparative figures for the period ended 30th April 2024 were unaudited.

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 Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors 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 Directors.

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 directors' remuneration specified by law are not made; or

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

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have 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:

We obtained an understanding of the legal and regulatory frameworks applicable to the company and the industry in which it operates through our general commercial experience and discussions with management. We determined that the following laws and regulations were most significant: the Companies Act 2006, FRS 102 'the Financial Reporting Standards applicable in the UK and relevant UK tax legislation. In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures within the financial statements such as Financial Markets and Services Act 2000 (Regulated Activities) and UK MFID Framework.

We made inquiries with management to understand whether there were any instances of non-compliance with laws-and regulations or whether they had any knowledge of actual, or suspected fraud. From the procedures performed we did not identify any matters relating to non-compliance with laws and regulation or matters in relation to fraud.

We evaluated directors and managements incentives and opportunities for fraudulent manipulation of the financial statements (including management override of controls) and determined the principal risks were related to the posting of manual journal entries, and revenue recognition.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and. performed our audit in accordance with auditing standards; For example, the further· removed none compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standard would identify it.

In addition, as with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non­compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

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.

Andrew Rand (Senior Statutory Auditor)

for and on behalf of Thompson Taraz Rand Audit and Assurance Limited

Statutory Auditors

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

21 August 2025

TURNOVER

3,003,879

3,600,896

Cost of sales

(1,065,738

)

(958,114

)

GROSS PROFIT

1,938,141

2,642,782

Administrative expenses

(2,414,793

)

(2,012,841

)

OPERATING (LOSS)/PROFIT

5

(476,652

)

629,941

Income from participating interests

94,500

271,841

Interest receivable and similar income

2,391

3,234

(379,761

)

905,016

Interest payable and similar expenses

6

(3,522

)

(685

)

(LOSS)/PROFIT BEFORE TAXATION

(383,283

)

904,331

Tax on (loss)/profit

7

(16,628

)

(172,996

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(399,911

)

731,335

(LOSS)/PROFIT FOR THE YEAR

(399,911

)

731,335

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(399,911

)

731,335

FIXED ASSETS

Tangible assets

10

124,552

25,208

Investments

11

50

150

124,602

25,358

CURRENT ASSETS

Debtors

12

583,141

655,009

Cash and cash equivalents

396,962

462,624

980,103

1,117,633

CREDITORS

Amounts falling due within one year

13

(727,467

)

(895,615

)

NET CURRENT ASSETS

252,636

222,018

TOTAL ASSETS LESS CURRENT LIABILITIES

377,238

247,376

CREDITORS

Amounts falling due after more than one year

14

(26,589

)

(11,816

)

PROVISIONS FOR LIABILITIES

18

(4,948

)

(4,948

)

NET ASSETS

345,701

230,612

CAPITAL AND RESERVES

Called up share capital

19

600,001

100,000

Share premium

20

14,999

-

Retained earnings

20

(269,299

)

130,612

SHAREHOLDERS' FUNDS

345,701

230,612

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2025 and were signed on its behalf by:

T M O'Connor - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 April 2023

100,000

76,344

-

176,344

Changes in equity

Dividends

-

(677,067

)

-

(677,067

)

Total comprehensive income

-

731,335

-

731,335

Balance at 30 April 2024

100,000

130,612

-

230,612

Changes in equity

Issue of share capital

500,001

-

14,999

515,000

Total comprehensive income

-

(399,911

)

-

(399,911

)

Balance at 30 April 2025

600,001

(269,299

)

14,999

345,701

1.	STATUTORY INFORMATION

TPIO Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The company is a subsidiary undertaking whose results are included in the consolidated financial statements of its parent company.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 exemption 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.

Related party exemption

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.

Significant judgements and estimates

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. 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.

The following are the critical judgements and key estimation uncertainties that have the most significant effect on the amounts recognised in the financial statements:

Selection of depreciation policies - Assessing the economic useful life as assets and residual values based on today's prices of the asset at the end of its useful economic life.

Valuation of intercompany balances- Assessing recoverability of balances due from group undertakings based on expected future cash flows.

Revenue

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

Revenue comprises fees, commissions, and other income arising from the provision of wealth management and related services, stated net of value added tax where applicable. Revenue is recognised to the extent that it is probable that economic benefits will flow to the Company and the amount can be measured reliably.

Revenue is measured at the fair value of the consideration received or receivable and is recognised as follows:

Advisory and planning fees - recognised when the related service has been performed in accordance with the terms of the client engagement. Where services are provided over a period of time, revenue is recognised on a straight-line basis over the term of the engagement unless another method better reflects the stage of completion.

Annual management fees - calculated as a percentage of funds under management and recognised on an accruals basis as the service is provided. Fees are typically charged monthly.

Commissions and transaction fees - recognised on the date the underlying transaction is completed and the income becomes due in accordance with contractual terms.

Other service income - recognised in the period in which the related service is provided.

Where amounts are received in advance of the provision of services, the income is deferred and recognised as a liability until the service has been delivered. Where income has been earned but not yet invoiced, it is recognised as accrued income.

Tangible fixed assets

Tangible fixed assets under the cost method are stated under historical cost less accumulated depreciation and any accumulated losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment -

33%

Computer equipment -

33%

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date.

Gains and losses on disposals are are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investments in subsidiaries and associates

Investment in subsidiaries and associated are held at cost less impairment.

Investments in unlisted Company shares, whose market value can be reliably determined are remeasured to market value at each reporting date. Gains and losses on remeasure are recognised in the profit and loss account. Where market value can not be reliably measured such investments are recognised at historic cost less impairment.

Financial instruments and financial risk management

Categories of Financial Assets and Financial Liabilities:

The carrying amounts of the Company’s financial assets and liabilities are as follows:

Financial assets measured at amortised cost - trade debtors, other debtors, amounts owed by group undertakings, cash and cash equivalents.

Financial liabilities measured at amortised cost - trade creditors, other creditors, amounts owed to directors, amounts owed to group undertakings, bank loans, other loans, and hire purchase obligations.

Financial Risk Management:

The Company’s activities expose it to a variety of financial risks, including credit risk, liquidity risk and interest rate risk.

Credit risk - The Company’s credit risk is primarily attributable to trade and other receivables. The Company’s maximum exposure to credit risk is represented by the carrying value of these assets in the balance sheet. Credit risk is managed through ongoing monitoring of balances and the creditworthiness of counter parties.

Liquidity risk - The Company manages liquidity by maintaining adequate cash reserves, banking facilities, and continuously monitoring forecast and actual cash flows.

Interest rate risk- The Company has minimal exposure to interest rate risk as borrowings are primarily at fixed rates under hire purchase agreements and short-term facilities.

Taxation

Taxation for the year comprises current and deferred tax.Tax is recognised in the Profit and loss account, 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 balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors have a more than reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved when approved by shareholders at annual general meeting.

Comparatives not fully comparable

The comparatives for the period ended 30th April 2024 are not fully comparable to the current year results for the year ended 30th April 2025 as the comparative figures cover a thirteen month accounting period.

4.	EMPLOYEES AND DIRECTORS

Period

1/4/23

Year ended

to

30/4/25

30/4/24

as restated

(Unaudited)

£

£

Wages and salaries

981,902

558,281

Social security costs

111,102

71,473

Other pension costs

29,088

16,559

1,122,092

646,313

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

Period

1/4/23

Year ended

to

30/4/25

30/4/24

as restated

(Unaudited)

Client facing

6

6

Non client facing

5

4

11

10

Period

1/4/23

Year ended

to

30/4/25

30/4/24

as restated

(Unaudited)

£

£

Directors' remuneration

376,877

80,000

Directors' pension contributions to money purchase schemes

3,521

-

The number of directors to whom retirement benefits were accruing was as follows:

Defined benefit schemes

2

2

Information regarding the highest paid director for the year ended 30 April 2025 is as follows:

Year ended

30/4/25

£

Emoluments etc

270,000

5.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

Period

1/4/23

Year ended

to

30/4/25

30/4/24

as restated

(Unaudited)

£

£

Other operating leases

107,809

80,974

Depreciation - owned assets

35,122

2,876

Auditors' remuneration

13,500

-

Taxation compliance services

600

-

Non-audit services

2,400

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1/4/23

Year ended

to

30/4/25

30/4/24

as restated

(Unaudited)

£

£

Bank interest

3,522

685

7.

TAXATION

Analysis of the tax charge

The tax charge on the loss for the year was as follows:

Period

1/4/23

Year ended

to

30/4/25

30/4/24

as restated

(Unaudited)

£

£

Current tax:

UK corporation tax

16,628

168,048

Deferred tax

-

4,948

Tax on (loss)/profit

16,628

172,996

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

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

Period

1/4/23

Year ended

to

30/4/25

30/4/24

as restated

(Unaudited)

£

£

(Loss)/profit before tax

(383,283

)

904,331

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

(95,821

)

226,083

Effects of:

Expenses not deductible for tax purposes

49,741

31,221

Income not taxable for tax purposes

(23,625

)

(67,960

)

Capital allowances in excess of depreciation

(25,661

)

(11,433

)

Utilisation of tax losses

(673

)

(1,384

)

Adjustments to tax charge in respect of previous periods

(823

)

(14,855

)

Unutilised tax losses

96,039

-

Movement in deferred tax

-

11,324

Tax due under S455

17,451

-

Total tax charge

16,628

172,996

The tax charge for the year is impacted by the availability of tax losses.

8.

DIVIDENDS

Period

1/4/23

Year ended

to

30/4/25

30/4/24

as restated

(Unaudited)

£

£

A Ordinary shares of £1 each

Interim

-

677,067

9.	PRIOR YEAR ADJUSTMENT

The comparative information previously presented for the period ended 30th April 2024 was prepared in accordance with FRS 102 Section 1A when the company was ineligible to do so. The financial statements have therefore been restated.The impact of this restatement is limited to disclosure and presentation matters, specifically the requirements of related party transactions required under Section 33 of FRS 102. Comparatives amounts have therefore been disclosed in respect of identified related parties required under Section 33. No changes have been made to the amounts previously reported to the balance sheet and profit and loss account.

10.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2024

34,986

11,809

46,795

Additions

129,762

4,704

134,466

At 30 April 2025

164,748

16,513

181,261

DEPRECIATION

At 1 May 2024

11,268

10,319

21,587

Charge for year

33,538

1,584

35,122

At 30 April 2025

44,806

11,903

56,709

NET BOOK VALUE

At 30 April 2025

119,942

4,610

124,552

At 30 April 2024

23,718

1,490

25,208

11.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1 May 2024

150

-

150

Impairments

(100

)

-

(100

)

Reclassification/transfer

(50

)

50

-

At 30 April 2025

-

50

50

NET BOOK VALUE

At 30 April 2025

-

50

50

At 30 April 2024

150

-

150

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Stratex Ventures Ltd

Registered office: Stonecross, Trumpington High Street, Cambridge, CB2 9SU

Nature of business: Consultancy

%

Class of shares:

holding

Ordinary

30/4/24

31/3/23

£

£

Aggregate capital and reserves

-

171,979

Profit for the period/year

-

170,979

The investment of £100 in Stratex Ventures Ltd, representing a 100% interest was impaired to nil following the formal application made to the Registrar of Companies on 1st October 2024 to strike the company off the register. The company was formerly dissolved and removed from the company register on 24th December 2024.

Associated company

Stonecross Investment Office Ltd

Registered office: Stonecross, Trumpington High Street, Cambridge CB2 9SU.

Nature of business: Financial intermediation

%

Class of shares:

holding

Ordinary

50.00

31/3/24

31/3/23

£

£

Aggregate capital and reserves

61,384

87,962

Profit for the year

296,922

361,105