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REGISTERED NUMBER: 03413834 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 AUGUST 2024 |

| FOR |

| COSSACK ASSET MANAGEMENT LIMITED |

COSSACK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03413834) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| COSSACK ASSET MANAGEMENT LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 AUGUST 2024

| DIRECTOR: | R M Kingston

| REGISTERED OFFICE: | 70 Woodland Rise

| Muswell Hill

| London

| N10 3UJ

| REGISTERED NUMBER: | 03413834 (England and Wales)

COSSACK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03413834) |

STATEMENT OF FINANCIAL POSITION

31 AUGUST 2024

31.8.24 | 31.8.23 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 4 | 58,892 |  | 78,522 |  |

Investments | 5 | 35,000 |  | 35,000 |  |

Investment property | 6 | 479,600 |  | 634,600 |  |

573,492 |  | 748,122 |  |

CURRENT ASSETS

Debtors | 7 | 227,286 |  | 263,467 |  |

Cash at bank and in hand | 748 |  | 43,061 |  |

228,034 |  | 306,528 |  |

CREDITORS

Amounts falling due within one year | 8 | 139,039 |  | 162,908 |  |

NET CURRENT ASSETS | 88,995 |  | 143,620 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 662,487 |  | 891,742 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (287,309 | ) | (299,309 | ) |

PROVISIONS FOR LIABILITIES | - |  | (29,450 | ) |

NET ASSETS | 375,178 |  | 562,983 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Undistributable reserve | 11 | - |  | 125,550 |  |

Retained earnings | 11 | 375,078 |  | 437,333 |  |

SHAREHOLDERS' FUNDS | 375,178 |  | 562,983 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

COSSACK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03413834) |

STATEMENT OF FINANCIAL POSITION - continued

31 AUGUST 2024

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 December 2025 and were signed by:

R M Kingston - Director

COSSACK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03413834) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

1. | STATUTORY INFORMATION

| Cossack Asset Management 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

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

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 25% on reducing balance

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficits arising from changes in fair value is recognised in profit or loss.

| This is a departure from the Companies Act which requires assets to be depreciated. However, in the opinion of the directors, property is held primarily for their investment potential and so fair value is of more significance as a measure of consumption. They therefore have applied a true and fair override with respect to investment properties.

| Financial instruments

| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2023 - NIL).

COSSACK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03413834) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2024

4. | TANGIBLE FIXED ASSETS

Plant and |

machinery |

etc |

| £

| COST

| At 1 September 2023

| and 31 August 2024 | 159,252 |  |

| DEPRECIATION

| At 1 September 2023 | 80,730 |  |

| Charge for year | 19,630 |  |

| At 31 August 2024 | 100,360 |  |

| NET BOOK VALUE

| At 31 August 2024 | 58,892 |  |

| At 31 August 2023 | 78,522 |  |

5. | FIXED ASSET INVESTMENTS

| Investments (neither listed nor unlisted) were as follows:

31.8.24 | 31.8.23 |

| £ | £

| Fixed asset investments | 35,000 |  | 35,000 |  |

6. | INVESTMENT PROPERTY

Total |

| £

| FAIR VALUE

| At 1 September 2023 | 634,600 |  |

| Revaluations | (155,000 | ) |

| At 31 August 2024 | 479,600 |  |

| NET BOOK VALUE

| At 31 August 2024 | 479,600 |  |

| At 31 August 2023 | 634,600 |  |

| Fair value at 31 August 2024 is represented by:

| £

| Valuation in 2016 | 95,000 |  |

| Valuation in 2017 | 60,000 |  |

| Valuation in 2024 | (155,000 | ) |

| Cost | 479,600 |  |

479,600 |  |

| The investment property has been shown at fair value basis by the director.

COSSACK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03413834) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2024

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

31.8.24 | 31.8.23 |

| £ | £

| Other debtors | 227,286 |  | 263,467 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

31.8.24 | 31.8.23 |

| £ | £

| Bank loans and overdrafts | 69,390 |  | 87,643 |  |

| Trade creditors | 1 |  | - |  |

| Taxation and social security | 50,733 |  | 68,313 |  |

| Other creditors | 18,915 |  | 6,952 |  |

139,039 |  | 162,908 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

31.8.24 | 31.8.23 |

| £ | £

| Bank loans | 287,309 |  | 299,309 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Bank loans more 5 yrs non-inst | 287,309 |  | 299,309 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

31.8.24 | 31.8.23 |

| £ | £

| Bank loan | 287,309 |  | 386,952 |  |

| Bank loans are secured against company's assets by way of fixed charge.

11. | RESERVES

Retained | Undistributable |

earnings | reserve | Totals |

| £ | £ | £

| At 1 September 2023 | 437,333 |  | 125,550 |  | 562,883 |  |

| Deficit for the year | (62,255 | ) | (62,255 | ) |

| Movements during the period | - |  | (125,550 | ) | (125,550 | ) |

| At 31 August 2024 | 375,078 |  | - |  | 375,078 |  |

COSSACK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 03413834) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2024

12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 | 31.8.23 |

| £ | £

| R M Kingston

| Balance outstanding at start of year | (269 | ) | 13,146 |  |

| Amounts advanced | 60,769 |  | 128,234 |  |

| Amounts repaid | (79,415 | ) | (141,649 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (18,915 | ) | (269 | ) |