REGISTERED NUMBER: 07218504 (England and Wales)

H2 EQUITY PARTNERS LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

H2 Equity Partners Fund Management B.V. (Represented by P H L Kalverboer)

G R R Dew

C Turley

REGISTERED OFFICE:

41 Bedford Square

Greater London

London

WC1B 3HX

REGISTERED NUMBER:

07218504 (England and Wales)

FIXED ASSETS

Tangible assets

4

535,563

628,327

CURRENT ASSETS

Debtors

5

2,961,400

1,784,521

Investments

6

24,454

70,644

Cash at bank

82,383

386,553

3,068,237

2,241,718

CREDITORS

Amounts falling due within one year

7

1,553,887

1,174,926

NET CURRENT ASSETS

1,514,350

1,066,792

TOTAL ASSETS LESS CURRENT LIABILITIES

2,049,913

1,695,119

PROVISIONS FOR LIABILITIES

58,902

66,697

NET ASSETS

1,991,011

1,628,422

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

1,990,811

1,628,222

SHAREHOLDERS' FUNDS

1,991,011

1,628,422

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 8 April 2026 and were signed on its behalf by:

C Turley - Director

G R R Dew - Director

H2 Equity Partners Fund Management B.V. (Represented by P H L Kalverboer) - Director

1.	STATUTORY INFORMATION

H2 Equity Partners 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.

Going Concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

Determine whether any leases entered into by the company as a lessor or a lessee are operating or lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

Determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Determine the recoverability of all debtors at the balance sheet date by reference to amounts received after the balance sheet date and before the date of approval of the financial statements. In addition, for any unpaid debtors at the date of approval of the financial statements a review has been made to assess recoverability of such items and where any doubt as to the recoverability exists, the debtor has been written down to its recoverable amount.

Determining whether any items which would be construed as a financial instrument within the meaning of FRS 102 has been included within the financial statements at the required fair value where applicable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

over the period of the lease

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

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 statement of financial position date.

Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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.

Creditors

Short term trade 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 rate of interest.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date. Any material liability is included within creditors due within one year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2025

605,075

652,287

1,257,362

Additions

-

18,141

18,141

Disposals

-

(10,729

)

(10,729

)

At 31 December 2025

605,075

659,699

1,264,774

DEPRECIATION

At 1 January 2025

243,535

385,500

629,035

Charge for year

61,848

47,074

108,922

Eliminated on disposal

-

(8,746

)

(8,746

)

At 31 December 2025

305,383

423,828

729,211

NET BOOK VALUE

At 31 December 2025

299,692

235,871

535,563

At 31 December 2024

361,540

266,787

628,327

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Trade debtors

120,000

-

Amounts owed by group undertakings

2,540,243

1,636,691

Other debtors

301,157

147,830

2,961,400

1,784,521

6.	CURRENT ASSET INVESTMENTS

31/12/25

31/12/24

£

£

Other

24,454

70,644

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Trade creditors

66,417

99,994

Amounts owed to group undertakings

375,000

18,437

Taxation and social security

193,895

178,219

Other creditors

918,575

878,276

1,553,887

1,174,926

8.	OTHER FINANCIAL COMMITMENTS

The company has total operating lease commitments at the balance sheet date on leases for land and buildings expiring over five years of £1,955,000 (2024 : £2,153,000).