Global Bridging Plc Group Accounts - Limited company accounts 25.1

REGISTERED NUMBER: 08630329 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

FOR

GLOBAL BRIDGING PLC GROUP ACCOUNTS

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Consolidated Statement of Income and Retained Earnings

10

Consolidated Statement of Financial Position

11

Company Statement of Financial Position

12

Consolidated Statement of Cash Flows

13

Notes to the Consolidated Statement of Cash Flows

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

S J Hodges

T J Pothecary

T J Cooley

Mrs J E Sullivan

L Covill

SECRETARY:

T J Cooley

REGISTERED OFFICE:

3rd Floor

2 Glass Wharf

Bristol

BS2 0EL

REGISTERED NUMBER:

08630329 (England and Wales)

AUDITORS:

A & N (Haslemere) Limited - Statutory Auditors

Aruna House

2 Kings Road

Haslemere

Surrey

GU27 2QA

Global Bridging plc (the "Company") is an unquoted public limited company and the holding company of the Global Bridging Group of companies (the"Group"). The Group's principal activity is the provision of bridging and short-term lending to developers and professional property investors in the UK.

PRINCIPAL ACTIVITIES AND REVIEW OF BUSINESS

The principal activity of the company was that of a holding company. The Group's operating business and principal activity comprises:

Global Bridging Lending Limited, which provides bridging and short-term lending to developers and professional property investors and generated revenue of £937,745 (2024: £1,168,297)..

Global Bridging Operating Limited (a wholly owned subsidiary of Global Bridging plc) providing management and consultancy services to Global Bridging Lending Limited.

Global Bridging Services Limited (a wholly owned subsidiary of Global Bridging plc) providing other services to Global Bridging Lending Limited.

The results for the year and the financial position of the Company and the Group are shown on the attached financial statements. A number of key performance indicators are monitored in order to review and control both performance and liquidity and to plan for the future:

Gross Profit £326,895 35% (2024 £416,776 36%)

Net Profit before Tax £206,389 22% (2024 £266,156 23%)

Gross Book size £4.34m (2024 £7.0m).

Bank balances £2.09m (2024 £0.16m)

The Board also considers non-financial indicators such as loan market volumes, interest rate trends, housing market conditions and changes in the bank base rate. The directors are satisfied with the results for the year and do not anticipate significant changes to the Group's activities in the near term. The loan book reduced to £4.34m (2024: £7.0m); the directors remain cautious about the wider economic environment but continue to pursue lending opportunities that meet the Group's underwriting criteria and risk appetite and remain satisfied with the financial position of the Company and the Group.

PRINCIPAL RISKS AND UNCERTAINTIES

The Group operates a conservative business model, with funding and liquidity managed within clearly defined risk parameters. The Group remains well funded and confident in its ability to access the finance required to support its operations.

When originating or reviewing loans, the directors assess the value of the security property, the financial position of the borrower, the loan amount and the proposed repayment strategy. All new lending and ongoing loan management is carried out in accordance with the Group's underwriting and credit policies, with material decisions approved by the Group's credit committee. The risk of borrower fraud, whether alone or in collusion with brokers, valuers or others, is considered low due to layered checks and validations within the underwriting process, which is regularly reviewed and enhanced where appropriate.

The Group's financial reserves and Loan-To-Value ratios are considered appropriate for current market conditions. The directors review key risks regularly and seek to eliminate or mitigate them through measures such as:

- maintaining sufficient legal security,

- enforcing compliance with the underwriting manual (with any exceptions documented by the credit committee, and

- regularly reviewing the underwriting policies.

SECTION 172(1) STATEMENT

The directors recognise that effective engagement with key stakeholders is central to the long-term success and sustainability of the Group. When making decisions the board has regard to the likely long term consequences, the interests of stakeholders and the need to maintain high standards of business conduct across the Group.

Lenders

Key stakeholders include senior funders and loan note investors (together, the Lenders). Lenders receive regular information on the performance of the underlying loans and the Group as a whole including Loan Note statements, quarterly management reports and annual statutory financial statements.

Shareholders

Quarterly board meetings, open to all directors and shareholders provide the main forum for shareholder engagement. Financial information and loan portfolio data are shared in advance and discussed in detail, including funding, the loan pipeline, product offering (pricing and criteria) and expected future profitability.

Employees

The Group has no employees. Core administration tasks are outsourced to a third party under a Memorandum of Understanding to a with directors providing additional administrative and consultancy support where required.

Third party Administrator and Loan Introducer

A third party administrator introduces new loan opportunities and provides support with underwriting and loan administration. Regular discussions are held in person or via telephone/video conference to review pipeline, performance and service levels.

Borrowers

The Group works closely with its Borrowers both directly and through its professional partners including the loan introducer/administrator, valuers and lawyers. Borrowers' responsibilities are clearly explained before completion, and a Group representative meets each borrower prior to drawdown. Following completion, the Group aims to act as a fair lender and will consider term extensions where this is in the interests of both the Group and the borrowers to do so.

Lawyers

The Group engages corporate lawyers to advise on loan note documentation, shareholder matters and company secretarial requirements, and business lawyers to support loan completions, title and company due diligence, redemptions and the creation and release of security.

Bank

The Group maintains transactional and deposit accounts with UK clearing banks and holds regular meetings with relationship managers to review banking services. Overnight deposits are monitored through regular reporting, including interest earned with another provider.

Valuers

The Group has a relationship with a Valuation Services that provides access to a Panel of Valuers, that are all members of the Royal Institute of Chartered Surveyors. The Group's requirements are communicated clearly to valuers and they agree to the Groups Terms and Conditions and individual valuations are discussed as necessary. Panel members are required to maintain adequate professional indemnity insurance in line with Group criteria.

Government and regulators

The Group complies with applicable legal and regulatory requirements and, together with its advisors, ensures that statutory filings, including annual financial statements and tax returns, are completed on time. The Group is registered with the Information Commissioner's Office and engages a specialist compliance provider to support Anti Money Laundering and "know Your Client" procedures, including checks on sanctions and Politically Exposed Persons and verification of identity and address documentation.

DEVELOPMENT AND PERFORMANCE

The directors remain focused on cautious, managed growth, maintaining prudent underwriting standards while seeking opportunities to develop the loan book and deliver sustainable returns for shareholders.

ON BEHALF OF THE BOARD:

T J Cooley - Director

22 December 2025

The directors present their report on the affairs of Global Bridging PLC and its subsidiaries (the "Group") together with the financial statements and auditor's report for the year ended 31 July 2025. The Group's principal activity in the year was the provision of bridging and short term lending to developers and professional property investors in the UK. No dividends will be distributed for the year ended 31 July 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the provision of bridging and short term lending to developers and professional property investors in the UK.

DIVIDENDS

No dividends will be distributed for the year ended 31 July 2025.

FUTURE DEVELOPMENTS

The Board is satisfied with the performance of the mortgage book and the quality of new loans originated during the year. The receivables balance remained more than £4m for the first four months of the new financial year and is expected to remain at a similar level in 2026, with the Group expected to remain profitable.

Management services of £180,000 (2024: £180,000) were provided by a wholly owned co subsidiary within the Group; these intra Group transactions are exempt from disclosure under FRS 102 paragraph 33.1A as they eliminate on consolidation.

The directors confirm that there have been no material post balance sheet events requiring adjustment or disclosure.

The directors expect the Group to benefit from further lending opportunities in 2026 and will continue to advance loans that meet its lending criteria and underwriting standards. In assessing such opportunities, the directors remain alert to the changing economic and political environment and consider that the Group is well positioned for 2025/26

DIRECTORS

The directors shown below have held office during the whole of the period from 1 August 2024 to the date of this report.

S J Hodges

T J Pothecary

T J Cooley

Mrs J E Sullivan

L Covill

FINANCIAL INSTRUMENTS

The Company has not entered into any non-basic financial instruments. All financial assets and liabilities fall due within one year. Loan debtors comprise short term non-derivative bridging loans provided at fixed commercial interest rates and are classified as basic financial instruments. The Group monitors interest margins to ensure that interest income more than covers funding and operating costs, with senior funding rates negotiated close to market levels

The directors monitor cash flows closely and consider that current cash balances, together with potential anticipated loan redemptions and potential new funding, are sufficient to meet ongoing operational and funding requirements

The Group's liquidity position is regularly reviewed using detailed cash flow forecasts and scenario planning, enabling potential risks to be identified in advance and managed through measures such as short term financing solutions and pipeline planning for new business.

GOING CONCERN

The Group's activities and the factors affecting its future development and performance are closely managed by the directors. The Group's current and forecast cash position is reviewed regularly to ensure that it has sufficient resources to meet its liabilities and commitments as they fall due. Having reviewed the financial position since the year end and forecasts for at least twelve months from the date of approval of these financial statements, the directors are satisfied with the Group's operational stability and continuity and therefore adopt the going concern basis in preparing these financial statements.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Group Strategic Report, 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the group and of the profit or loss of the group 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;

-	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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, A & N (Haslemere) Limited - Statutory Auditors, were proposed for re-appointment at the Annual General Meeting and reappointed accordingly.

ON BEHALF OF THE BOARD:

T J Cooley - Director

22 December 2025

Opinion

We have audited the financial statements of Global Bridging Plc Group Accounts (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2025 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 group's and of the parent company affairs as at 31 July 2025 and of the group's 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 group 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 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 group's and the parent 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and 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.

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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page six, 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 group's and the parent 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 group or the parent 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:

1. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. To address the risk of fraud through management bias and override of controls, we carried out:

- analytical procedures to identify unusual or unexpected fluctuations

- tested journal entries

- assessed whether judgements and assumptions made in accounting estimates were indicative of potential bias

- and generally investigated the rationale behind significant or unusual transactions.

2. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

3. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

4. Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report.

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.

Mrs Anugrah Sharma BSc FCA (Senior Statutory Auditor)

for and on behalf of A & N (Haslemere) Limited - Statutory Auditors

Aruna House

2 Kings Road

Haslemere

Surrey

GU27 2QA

22 December 2025

TURNOVER

937,745

1,168,297

Cost of sales

610,850

751,522

GROSS PROFIT

326,895

416,775

Administrative expenses

140,383

156,487

186,512

260,288

Interest receivable and similar income

19,877

5,869

PROFIT BEFORE TAXATION

3

206,389

266,157

Tax on profit

4

51,108

65,751

PROFIT FOR THE FINANCIAL YEAR

155,281

200,406

Retained earnings at beginning of year

1,029,082

828,676

RETAINED EARNINGS FOR THE
GROUP AT END OF YEAR

1,184,363

1,029,082

Profit attributable to:

Owners of the parent

155,281

200,406

CURRENT ASSETS

Debtors

7

4,337,924

7,003,713

Cash at bank

2,090,880

160,010

6,428,804

7,163,723

CREDITORS

Amounts falling due within one year

8

5,115,941

6,006,141

NET CURRENT ASSETS

1,312,863

1,157,582

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,312,863

1,157,582

CAPITAL AND RESERVES

Called up share capital

11

118,500

Share premium

10,000

Retained earnings

1,184,363

1,029,082

SHAREHOLDERS' FUNDS

1,312,863

1,157,582

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

T J Cooley - Director

FIXED ASSETS

Investments

6

3

CURRENT ASSETS

Debtors

7

250,000

240,000

Cash at bank

11,801

17,884

261,801

257,884

CREDITORS

Amounts falling due within one year

8

6,544

4,948

NET CURRENT ASSETS

255,257

252,936

TOTAL ASSETS LESS CURRENT
LIABILITIES

255,260

252,939

CAPITAL AND RESERVES

Called up share capital

11

118,500

Share premium

10,000

Retained earnings

126,760

124,439

SHAREHOLDERS' FUNDS

255,260

252,939

Company's profit for the financial year

2,321

4,041

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

T J Cooley - Director

Cash flows from operating activities

Cash generated from operations

1

2,856,101

(643,443

)

Tax paid

(65,751

)

(47,800

)

Net cash from operating activities

2,790,350

(691,243

)

Cash flows from investing activities

Interest received

19,877

5,869

Net cash from investing activities

19,877

5,869

Cash flows from financing activities

New loans in year

-

2,469,633

Loan repayments in year

(879,357

)

(2,866,860

)

Net cash from financing activities

(879,357

)

(397,227

)

Increase/(decrease) in cash and cash equivalents

1,930,870

(1,082,601

)

Cash and cash equivalents at beginning of
year

2

160,010

1,242,611

Cash and cash equivalents at end of year

2

2,090,880

160,010

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.7.25

31.7.24

£

Profit before taxation

206,389

266,157

Finance income

(19,877

)

(5,869

)

186,512

260,288

Decrease/(increase) in trade and other debtors

2,665,789

(903,731

)

Increase in trade and other creditors

3,800

-

Cash generated from operations

2,856,101

(643,443

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 July 2025

31.7.25

1.8.24

£

Cash and cash equivalents

2,090,880

160,010

Year ended 31 July 2024

31.7.24

1.8.23

£

Cash and cash equivalents

160,010

1,242,611

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.8.24

Cash flow

At 31.7.25

£

Net cash

Cash at bank

160,010

1,930,870

2,090,880

160,010

1,930,870

2,090,880

Debt

Debts falling due within 1 year

(5,932,790

)

879,357

(5,053,433

)

(5,932,790

)

879,357

(5,053,433

)

Total

(5,772,780

)

2,810,227

(2,962,553

)

1.	ACCOUNTING POLICIES

General information

Global Bridging plc ("the Company") is a Company limited by shares incorporated in England and Wales. The address of the registered office is given in the company information on page 1.

The principal activity of the company is the provision of bridging and short term lending to developers and professional property investors.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.

Financial Reporting Standard 102 - reduced disclosure exemptions

No cash flow statement has been presented for the parent company

Basis of consolidation

The Group financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102, the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention and are presented in sterling which is the functional currency of the Group.

Significant judgements and estimates

The recognition of income and expenditure is based on fixed rates of interest and contractual agreements. There are no significant judgements and estimates made during the year to 31 July 2025 nor 31 July 2024.

Turnover

Turnover comprises interest income, management and arrangement fees on financial assets. Interest income is recognised from the date the funds are advanced and in accordance with the fixed rate interest charged. Arrangement and management fees are recognised on the commencement of the loan agreement.

Financial instruments

The Group classifies its financial assets at fair value through profit and loss or as loan debtors and amounts owed by Group undertakings. Financial liabilities, classified as other loans and amounts owed to Group undertakings are at transaction cost which is considered equivalent to fair value.

Other basic financial assets and liabilities, including cash and bank balances and accrued received interest and expenses are recognised at transaction price which is considered equivalent to fair value.

Loan debtors constitute non-derivative short term bridging loans provided at fixed interest commercial rates and are classified as basic financial instruments. These are measured at transaction price net of any costs and impairment and are considered to be equivalent to fair value.

Other financial liabilities are short term non-derivative financial liabilities with fixed or determinable payments.

These are recognised when cash is received from investors. The liabilities are carried at transaction cost. This is considered to be equivalent to fair value.

Taxation

Taxation expense for the year comprises current tax recognised in the year. Current tax is the amount of tax payable in respect of the taxable profit for the year or prior years and is calculated using tax rates and laws that have been enacted or substantively enacted by the year end.

Impairment

The Group reviews its portfolio of loan debtors to assess impairment on a regular basis during the year. The criteria used are whether there are any arrears in contractual payments of principal or interest; cash flow difficulties experienced by the borrower and the need for the initiation of collection. In determining whether an impairment loss should be recognised the directors considers whether there is a measurable decrease in the recoverable debt.

No impairment provision has been made against loans and advances to customers or other receivables during the period.

Determining whether secured debt is impaired requires an estimation of the value of the underlying security, an assessment of future related expected cashflows, the financial position of the borrower and the carrying balance of the debt. This is considered on an individual loan by loan basis. The directors are satisfied with the degree of certainty that this approach provides.

2.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 July 2025 nor for the year ended 31 July 2024.

3.	PROFIT BEFORE TAXATION

The profit is stated after charging:

31.7.25

31.7.24

£

Auditor's remuneration for the audit of the company accounts

6,000

4,000

Auditor's remuneration of the audit of the company subsidiaries

5,400

3,600

4.

TAXATION

Analysis of the tax charge

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

31.7.25

31.7.24

£

Current tax:

UK corporation tax

51,108

65,751

Tax on profit

51,108

65,751

5.	PARENT COMPANY PROFIT AND LOSS SUMMARY

The parent company’s results, included within the consolidated financial statements, are as follows:

Details

YE 31/07/2025

YE 31/07/2024

Revenue

£10,000

Administrative Expenses

£(7,135

)

£(5,012

)

Operating Profit

£2,865

£4,988

Finace Costs

£0

Profit Before Tax

£2,865

£4,988

Tax Charges

£(544

)

£(948

)

Profit for the year

£2,321

£4,040

The parent company generated revenue of £10,000 (2024 £10,000), primarily from management fees charged to subsidiaries. The primary costs were administrative expenses and interest charges related to intercompany loans. The resulting profit for the year was £2,321 (2024 £4,040), which has been added to retained earnings.

6.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 August 2024

and 31 July 2025

3

NET BOOK VALUE

At 31 July 2025

3

At 31 July 2024

3

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Global Bridging Lending Limited

Registered office: 2 Glass Wharf, Bristol, England, BS2 0EL Country of incorporation United Kingdom

Nature of business: Provision of bridging and short term funding

%

Class of shares:

holding

Ordinary

100.00

Global Bridging Operating Limited

Registered office: 2 Glass Wharf, Bristol, England, BS2 0EL Country of incorporation United Kingdom

Nature of business: Day to day operational functions of the Group

%

Class of shares:

holding

Ordinary

100.00

Global Bridging Services Limited

Registered office: 2 Glass Wharf, Bristol, England, BS2 0EL Country of incorporation United Kingdom

Nature of business: Day to day services of the Group

%

Class of shares:

holding

Ordinary

100.00

Global Bridging Operating and Global Bridging Services have claimed the exemption from audit under s479A of the Companiies Act 2006.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.7.25

31.7.24

31.7.25

31.7.24

£

Trade debtors

4,054,800

6,412,186

-

Amounts owed by group undertakings

-

250,000

240,000

Trade debtors interest

283,124

591,527

-

4,337,924

7,003,713

250,000

240,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.7.25

31.7.24

31.7.25

31.7.24

£

Other loans (see note 9)

5,053,433

5,932,790

-

Tax

51,108

65,751

544

948

Accrued expenses

11,400

7,600

6,000

4,000

5,115,941

6,006,141

6,544

4,948

Other loans include external funding secured against relevant collateral provided by the ultimate borrower (see note 9) and loan notes (see note 10).

9.

LOANS

An analysis of the maturity of loans is given below:

Group

31.7.25

31.7.24

£

Amounts falling due within one year or on

demand:

Other loans

5,053,433

5,932,790

10.	SECURED DEBTS

The following secured debts are included within creditors:

Group

31.7.25

31.7.24

£

Other Loans

1,538,914

2,858,162

Loan Notes

3,514,519

3,074,628

5,053,433

5,932,790

Loans to the Group at the year end include loan arrangements where additional external funding is secured via a subcharge on the collateral provided by the ultimate borrower to the group on the advancement of the loan at commercial rates and redeemable within one year. The Other Loans due include accrued interest £108,716 (2024 £274,288 ). There is a custodial fixed and floating charge on the assets of Global Bridging Lending Ltd on behalf of all Loan Note holders. The loan note balances due include accrued interest of £326,456 (2024 £249,878).

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.25

31.7.24

value:

£

118,500

Ordinary

£1

118,500

12.	CONTINGENT LIABILITIES

Company

Two of the Company's subsidiaries, as disclosed in note 6, have taken advantage of the exemption from audit available under Section 479A of the Companies Act 2006. For these subsidiaries, the Company has guaranteed all outstanding liabilities as at the year end, until they are settled in full. The liabilities of the subsidiaries at 31 July 2025 were £5,269 (2024 £5,269).

13.	RELATED PARTY DISCLOSURES

The Group has taken advantage of the exemption available in paragraph 33.1A of FRS 102: Related party disclosures and has not disclosed transactions with other wholly owned Group companies. Transactions between Group companies that eliminate in the consolidated financial statements are not disclosed.

The directors, shareholders and connected parties are owed £2,999,885 (2024 £2,553,543). These debts are "pari passu" with other loan note holders and include accrued interest due at 31 July 2025 of £237,865 (2024 £221,645). During the year interest of £199,981 (2024 £238,108) was paid to these parties. Loan notes are redeemable at any time, by any party subject to a minimum of two months notice.

14.	ULTIMATE CONTROLLING PARTY

Global Bridging PLC is the parent company of the Group and no one individual holds a controlling interest, control would require multiple individuals to act with a common goal.