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Registered number: 13704424 PRIVATE MARKETS ALPHA LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
PRIVATE MARKETS ALPHA LTD REGISTERED NUMBER: 13704424 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 1,493 |  | -
Investments | 5 |  | 9,927 |  | 10,403
|  |  | 11,420 |  | 10,403
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 165,679 |  | 118,851 |
Cash at bank and in hand | 7 | 112,883 |  | 39,926 |
|  | 278,562 |  | 158,777 |
Creditors: amounts falling due within one year | 8 | (484,410) |  | (388,090) |
Net current liabilities |  |  | (205,848) |  | (229,313)
Total assets less current liabilities |  |  | (194,428) |  | (218,910)
Creditors: amounts falling due after more than one year | 9 |  | (831,725) |  | -
Net liabilities |  |  | (1,026,153) |  | (218,910)
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 361 |  | 416
Share premium account |  |  | 1,763,667 |  | 2,297,490
Profit and loss account |  |  | (2,790,181) |  | (2,516,816)
|  |  | (1,026,153) |  | (218,910)
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. Page 1
PRIVATE MARKETS ALPHA LTD REGISTERED NUMBER: 13704424 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ A Weber | ................................................ T Douie
Director | Director
Date: 10 February 2026 |
The notes on pages 4 to 11 form part of these financial statements. Page 2
PRIVATE MARKETS ALPHA LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2023 (as previously stated) | 276 | 1,048,382 | (605,391) | 443,267
Prior year adjustment - correction of error | - | - | (330,883) | (330,883)
At 1 January 2023 (as restated) | 276 | 1,048,382 | (936,274) | 112,384
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (1,580,542) | (1,580,542)
Total comprehensive income for the year | - | - | (1,580,542) | (1,580,542)
Contributions by and distributions to owners |  |  |  |
Shares issued during the year | 140 | 1,249,108 | - | 1,249,248
Total transactions with owners | 140 | 1,249,108 | - | 1,249,248
At 1 January 2024 | 416 | 2,297,490 | (2,516,816) | (218,910)
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (273,365) | (273,365)
Contributions by and distributions to owners |  |  |  |
Shares issued during the year | 105 | 1,107,861 | - | 1,107,966
Shares redeemed during the year | - | (1,641,684) | - | (1,641,684)
Shares cancelled during the year | (160) | - | - | (160)
Total transactions with owners | (55) | (533,823) | - | (533,878)
At 31 December 2024 | 361 | 1,763,667 | (2,790,181) | (1,026,153)
| The notes on pages 4 to 11 form part of these financial statements.
Page 3
PRIVATE MARKETS ALPHA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Private Markets Alpha Ltd is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is The Clubhouse, 8 St. James's Square, London, England, SW1Y 4JU. The Company's principal activity is that of technological services. The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £. 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. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
| 2.2 | Going concern
The financial statements have been prepared on the going concern basis which assumes that the Company will continue in operational existence for a period of at least 12 months following the approval of these financial statements. The directors consider it appropriate to prepare the financial statements on the going concern basis as the Directors and shareholders will continue to support the Company.
| 2.3 | Revenue
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. Page 4
PRIVATE MARKETS ALPHA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment 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. Page 5
PRIVATE MARKETS ALPHA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets (continued)
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 | - | 25% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 6
PRIVATE MARKETS ALPHA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.14 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted Page 7
PRIVATE MARKETS ALPHA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.14 | Financial instruments (continued)
where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
3. | Employees
| The average monthly number of employees, including directors, during the year was 5 (2023 - 5).
Page 8
PRIVATE MARKETS ALPHA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost or valuation |
| Additions | 1,937
| At 31 December 2024 | 1,937
| Depreciation |
| Charge for the year on owned assets | 444
| At 31 December 2024 | 444
| Net book value |
| At 31 December 2024 | 1,493
| At 31 December 2023 | -
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2024 | 10,403
| Foreign exchange movement | (477)
| At 31 December 2024 | 9,926
Page 9
PRIVATE MARKETS ALPHA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 79,086 | 72,404
| Prepayments and accrued income | 86,593 | 46,447
|  | 165,679 | 118,851
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 112,883 | 39,926
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 86,882 | 215,853
| Other taxation and social security | 48,585 | 9,480
| Other creditors | 271,183 | 157,457
| Accruals and deferred income | 77,760 | 5,300
|  | 484,410 | 388,090
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other loans | 81,250 | -
| Amounts owed to other participating interests | 750,475 | -
|  | 831,725 | -
Page 10
PRIVATE MARKETS ALPHA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due 1-2 years |  |
| Other loans | 81,250 | -
11. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 361 (2023 - 416) Ordinary shares of £1.00 each | 361 | 416
| On the 4 April 2024 34 Ordinary shares were issued with a nominal value of £34 and a consideraton of £365,230 was paid. On the 28 June 2024 10 Ordinary shares were issued with a nominal value of £10 and a consideraton of £74,810 was paid. On the 23 July 2024 10 Ordinary shares were issued with a nominal value of £10 and a consideraton of £100,848 was paid. On the 29 August 2024 51 Ordinary shares were issued with a nominal value of £51 and a consideraton of £569,324 was paid. At the year end there was a share cancellation of 160 ordinary shares with a nominal value of £160, for £1,641,844.
Page 11