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REGISTERED NUMBER: 10357460 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2025

FOR

NOE GROUP HOLDINGS LIMITED

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| NOE GROUP HOLDINGS LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 JANUARY 2025

| DIRECTORS: | S M Noe

| Noe Group (Corporate Services) Limited

| REGISTERED OFFICE: | 2nd Floor, The Hide

| 3 Kingly Court

| London

| W1B 5PW

| REGISTERED NUMBER: | 10357460 (England and Wales)

| ACCOUNTANTS: | Melinek Fine LLP

| Chartered Accountants

| First Floor, Winston House

| 349 Regents Park Road

| London

| N3 1DH

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460) |

BALANCE SHEET

31 JANUARY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 1,144,589 |  | 1,039,753 |  |

CURRENT ASSETS

Debtors | 5 | 37,510 |  | 947,950 |  |

Investments | 6 | 442,914 |  | 429,317 |  |

Cash at bank and in hand | 50,437 |  | 749,990 |  |

530,861 |  | 2,127,257 |  |

CREDITORS

Amounts falling due within one year | 7 | 36,417 |  | 435,746 |  |

NET CURRENT ASSETS | 494,444 |  | 1,691,511 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,639,033 |  | 2,731,264 |  |

CREDITORS

Amounts falling due after more than one year | 8 | - |  | (780,203 | ) |

PROVISIONS FOR LIABILITIES | - |  | (70,000 | ) |

NET ASSETS | 1,639,033 |  | 1,881,061 |  |

CAPITAL AND RESERVES

Called up share capital | 3 |  | 3 |  |

Profit and loss account | 1,639,030 |  | 1,881,058 |  |

SHAREHOLDERS' FUNDS | 1,639,033 |  | 1,881,061 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460) |

BALANCE SHEET - continued

31 JANUARY 2025

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 Board of Directors and authorised for issue on 5 December 2025 and were signed on its behalf by:

Noe Group (Corporate Services) Limited - Director

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

1. | STATUTORY INFORMATION

| Noe Group Holdings 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 represents revenue recognised for the provision of asset management and other related services. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

| Rendering of services

| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

| - the amount of revenue can be measured reliably;

| - it is probable that the Company will receive the consideration due under the contract;

| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and

| - the costs incurred and the costs to complete the contract can be measured reliably.

| Turnover not invoiced at the balance sheet date is included within accrued income.

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| A financial asset or a financial liability is recognised only when the company 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.

| Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

| Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

| 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.

| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

| 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.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

| Foreign currencies

| The financial statements are prepared in sterling, which is the functional currency of the entity.

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

2. | ACCOUNTING POLICIES - continued

| Leasing commitments

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

| Rentals payable 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.

| Investments

| Investments are measured at cost less provision for impairment.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - 32 ).

4. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST OR VALUATION

| At 1 February 2024 | 1,039,753 |  |

| Revaluations | 104,836 |  |

| At 31 January 2025 | 1,144,589 |  |

| NET BOOK VALUE

| At 31 January 2025 | 1,144,589 |  |

| At 31 January 2024 | 1,039,753 |  |

| Cost or valuation at 31 January 2025 is represented by:

| Other

| investments

£ |

| Valuation in 2021 | 16,313 |  |

| Valuation in 2022 | (416,687 | ) |

| Valuation in 2023 | (24,779 | ) |

| Valuation in 2024 | 104,836 |  |

| Cost | 1,464,906 |  |

1,144,589 |  |

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

5. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 7,987 |  | 612,934 |  |

| Other debtors | 3 |  | 118,469 |  |

| VAT | - |  | 45,017 |  |

| Prepayments and accrued income | - |  | 171,530 |  |

7,990 |  | 947,950 |  |

| Amounts falling due after more than one year:

| Other debtors | 29,520 |  | - |  |

| Aggregate amounts | 37,510 |  | 947,950 |  |

6. | CURRENT ASSET INVESTMENTS

2025 | 2024 |

£ | £ |

| Other investments | 442,914 |  | 429,317 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 31,900 |  | 2,376 |  |

| Social security and other taxes | - |  | 89,226 |  |

| VAT | 317 |  | - |  |

| Other creditors | - |  | 216,418 |  |

| Directors' current accounts | - |  | 79,267 |  |

| Accruals and deferred income | 4,200 |  | 48,459 |  |

36,417 |  | 435,746 |  |

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

2025 | 2024 |

£ | £ |

| Other loans - 2-5 years | - |  | 780,203 |  |

9. | RELATED PARTY DISCLOSURES

| Included in Debtors £29,520 (2023:£109,465) owed by companies controlled by the directors.

| The amounts are interest free and repayable on demand.