The Nascot Consortium Ltd

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

1. General Information

The Nascot Consortium Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05372346 . The registered office is Unit 17, 25 Orbital Business Park Dwight, Watford, Hertfordshire, WD18 9DA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Significant judgements and estimations

In applying the company’s accounting policies, 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 considered relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting estimates are recognised in the period in which the estimate is revised, and affect only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Page 3

Page 4

The Nascot Consortium Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Investments

	Total
	£
Cost
As at 1 April 2024	10

As at 31 March 2025	10

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	10

As at 1 April 2024	10

Page 4

Page 5

The Nascot Consortium Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

5. Debtors

	2025	2024
	£	£
Due after more than one year
Other loan receivable	1,575,000	-

6. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	280	280

7. Related Party Transactions

During the year, the Company entered into the following transactions with related parties:

Consultancy fees were paid to Mr Waseef Asghar, who is a director of the subsidiary Nascot Global W.L.L. Mr Waseef Asghar had had an outstanding balance owed of £2,054,535 at the year end.

Mr Yasser Sheikh, a director of The Nascot Consortium Ltd also a director of AQS Investments, had an outstanding balance owed to AQS Investments of £3,070,630 at the year end.

Mr Asam Majeed, a director of The Nascot Consortium Ltd and also a director of Krytical Solutions Ltd, had an outstanding balance owed to Krytical Solutions Ltd of £390,211 at the year end.

Mr Numan Majeed and Mr Asam Majeed, who are both directors of The Nascot Consortium Ltd and also directors of Manss Ltd, had an outstanding balance owed to Manss Ltd of £493,311 at the year end.

8. Ultimate Controlling Party

The Ultimate Controlling Party of the company is Mr Numan Majeed.

9. Audit Information

The auditor's report on the accounts of The Nascot Consortium Ltd for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by Siraj Muhammad FCCA (Senior Statutory Auditor) for and on behalf of HSY Accountants Ltd , Statutory Auditor.

HSY Accountants Ltd

Chartered Certified Accountants &

Statutory Auditors

20 Tadworth Parade, Elm Park

Essex

RM12 5AS

Page 5

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		10		10

			10		10
CURRENT ASSETS
Debtors	5	46,704,338		30,498,356
Cash at bank and in hand		494,818		318,623

		47,199,156		30,816,979
Creditors: Amounts Falling Due Within One Year		(47,185,268 )		(29,696,581 )

NET CURRENT ASSETS (LIABILITIES)			13,888		1,120,398

TOTAL ASSETS LESS CURRENT LIABILITIES			13,898		1,120,408

NET ASSETS			13,898		1,120,408

CAPITAL AND RESERVES
Called up share capital	6		280		280
Profit and Loss Account			13,618		1,120,128

SHAREHOLDERS' FUNDS			13,898		1,120,408