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COMPANY REGISTRATION NUMBER: 07294235

Earlcrown Construction Services Limited

Filleted Financial Statements

31 March 2025

Earlcrown Construction Services Limited

Directors' Responsibilities Statement

Year ended 31 March 2025
The directors are responsible for preparing the directors' report 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). 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 profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Earlcrown Construction Services Limited

Statement of Financial Position

31 March 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 461 | 5,277
Investments | 6 |  | 1,278,207 | –
|  | ------------ | -------
|  | 1,278,668 | 5,277

Current assets

Debtors | 7 | 1,370,041 |  | 1,154,124
Cash at bank and in hand | 543,224 |  | 1,285,176
| ------------ |  | ------------
| 1,913,265 |  | 2,439,300

Creditors: amounts falling due within one year | 8 | 6,768,312 |  | 468,824
| ------------ |  | ------------
Net current (liabilities)/assets |  | ( 4,855,047) | 1,970,476
|  | ------------ | ------------
Total assets less current liabilities |  | ( 3,576,379) | 1,975,753
|  | ------------ | ------------
Net (liabilities)/assets |  | ( 3,576,379) | 1,975,753
|  | ------------ | ------------

Capital and reserves

Called up share capital |  | 1 | 1
Profit and loss account |  | ( 3,576,380) | 1,975,752
|  | ------------ | ------------
Shareholders (deficit)/funds |  | ( 3,576,379) | 1,975,753
|  | ------------ | ------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 March 2026 , and are signed on behalf of the board by:

G S Katzeff
Director

Company registration number: 07294235

Earlcrown Construction Services Limited

Notes to the Financial Statements

Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 47 Mount Street, London, W1K 2SA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents fees for project management services which are recognised in the period in which those services are provided.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 33% straight line
| Equipment | - | 33% straight line

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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. 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 (see hedge accounting policy). 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2024: 7 ).
5. Tangible assets

| Fixtures and fittings | Equipment | Total
| £ | £ | £
Cost |  |  |
At 1 April 2024 and 31 March 2025 | 13,462 | 22,264 | 35,726
| -------- | -------- | --------
Depreciation |  |  |
At 1 April 2024 | 10,945 | 19,504 | 30,449
Charge for the year | 2,517 | 2,299 | 4,816
| -------- | -------- | --------
At 31 March 2025 | 13,462 | 21,803 | 35,265
| -------- | -------- | --------
Carrying amount |  |  |
At 31 March 2025 | – | 461 | 461
| -------- | -------- | --------
At 31 March 2024 | 2,517 | 2,760 | 5,277
| -------- | -------- | --------

6. Investments

| Shares in group undertakings | Loans to group undertakings | Total
| £ | £ | £
Cost |  |  |
At 1 April 2024 | – | – | –
Additions | 11 | 6,703,696 | 6,703,707
| ---- | ------------ | ------------
At 31 March 2025 | 11 | 6,703,696 | 6,703,707
| ---- | ------------ | ------------
Impairment |  |  |
At 1 April 2024 | – | – | –
Impairment losses | – | 5,425,500 | 5,425,500
| ---- | ------------ | ------------
At 31 March 2025 | – | 5,425,500 | 5,425,500
| ---- | ------------ | ------------

Carrying amount |  |  |
At 31 March 2025 | 11 | 1,278,196 | 1,278,207
| ---- | ------------ | ------------
At 31 March 2024 | – | – | –
| ---- | ------------ | ------------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 1,368,029 | 214,497
Other debtors | 2,012 | 939,627
| ------------ | ------------
| 1,370,041 | 1,154,124
| ------------ | ------------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 105,747 | 275,124
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 5,528 | 18,285
Corporation tax | 28,661 | –
Social security and other taxes | 103,973 | –
Other creditors | 6,524,403 | 175,415
| ------------ | ---------
| 6,768,312 | 468,824
| ------------ | ---------

9. Summary audit opinion
The auditor's report dated 20 March 2026 was unqualified .
The senior statutory auditor was Paul Mattei , for and on behalf of Leaman Mattei .
10. Related party transactions
During the year Earlcrown Construction Services Limited acquired a 51% holding in Zedcom Investitii Imobiliare SRL. The company also purchased loans repayable by Zedcom Investitii Imobiliare SRL to the value of £6,703,696 from Zedcom Enterprises Limited at face value. Zedcom Enterprises Limited then assigned the amount due for these loans to its parent company, Benbrook Properties Limited. Amounts owed to Benbrook Properties Limited at the year end was £6,517,718. Amounts due from Zedcom Investitii Imobiliare SRL at the year end was £6,703,696. An impairment provision has been made on the loans receivable from Investitii Imobiliare SRL of £5,425,500. All companies are considered related parties due to common control.
11. Controlling party
The company, at the balance sheet date, was a wholly owned subsidiary of Mermaidbay Inc, a company registered in the British Virgin Islands. After the year end 100% of the share capital of the company was transferred to Alcove Investments Limited, a company registered in the British Virgin Islands.