PEPE BLUE LTD

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

Registered number: 15047015

		31 August 2025		31 August 2024
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		2,481,000		-

			2,481,000		-
CURRENT ASSETS
Debtors	5	442,636		1,200
Cash at bank and in hand		535,665		-

		978,301		1,200
Creditors: Amounts Falling Due Within One Year	6	(1,037 )		-

NET CURRENT ASSETS (LIABILITIES)			977,264		1,200

TOTAL ASSETS LESS CURRENT LIABILITIES			3,458,264		1,200

NET ASSETS			3,458,264		1,200

CAPITAL AND RESERVES
Called up share capital	7		2,200		1,200
Profit and Loss Account			3,456,064		-

SHAREHOLDERS' FUNDS			3,458,264		1,200

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PEPE BLUE LTD

Balance Sheet (continued)

As At 31 August 2025

For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Norman Pepe

Director

26/05/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

PEPE BLUE LTD is a private company, limited by shares, incorporated in England & Wales, registered number 15047015 . The registered office is Flat 1, 3 Ravey Street, London, EC2A 4QP.

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. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Financial Instruments

Recognition and initial measurement

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. They are initially measured at the transaction price, including transaction costs, unless the arrangement constitutes a financing transaction.

Basic financial instruments

The company holds basic financial instruments including cash and cash equivalents, trade and other receivables and payables, and gilts (UK government bonds). These are subsequently measured at amortised cost using the effective interest method, unless stated otherwise.

Gilts (UK government bonds)

Gilts are classified as basic financial instruments and are held with the intention of being held to maturity. Accordingly, they are measured at amortised cost using the effective interest method. Interest income is recognised in profit or loss over the life of the instrument, based on the effective yield.

Impairment of financial assets

At each reporting date, financial assets measured at amortised cost are reviewed for objective evidence of impairment. Any identified impairment loss is recognised in profit or loss.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Derecognition

Financial assets are derecognised when the contractual rights to receive cash flows have expired or been settled. Financial liabilities are derecognised when the related obligations are discharged, cancelled, or expire.

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.

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PEPE BLUE LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 August 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: NIL (2024: NIL)

4. Investments

	Unlisted	Other	Total
	£	£	£
Cost or Valuation
As at 1 September 2024	-	-	-
Additions	1,000	2,480,000	2,481,000

As at 31 August 2025	1,000	2,480,000	2,481,000

Provision
As at 1 September 2024	-	-	-

As at 31 August 2025	-	-	-

Net Book Value
As at 31 August 2025	1,000	2,480,000	2,481,000

As at 1 September 2024	-	-	-

The company holds investments in UK unlisted companies, at the reporting date:

100% of the share capital of: ILS (London UK) Ltd - £1,000

The company holds investments in UK government treasuries, at the reporting date, the carrying amount of investments was as follows:

UK(GOVT OF) 4.25% SNR BDS 07/12/2027 - £1,180,000.00

UK(GOVT OF) 4.75% SNR GILT BDS 07/12/2030 - £700,000.00

UK(GOVT OF) 4.5% GILT BDS 07/09/2034 - £600,000.00

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PEPE BLUE LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

5. Debtors

	31 August 2025	31 August 2024
	£	£
Due within one year
Prepayments and accrued income	2,405	-
Other debtors	439,331	1,000
Director's loan account	900	200

	442,636	1,200

6. Creditors: Amounts Falling Due Within One Year

	31 August 2025	31 August 2024
	£	£
Corporation tax	1,037	-

7. Share Capital

	31 August 2025	31 August 2024
	£	£
Allotted, Called up and fully paid	2,200	1,200

8. Ultimate Controlling Party

The company's ultimate controlling party is Mr Norman Pepe by virtue of his ownership of 75% or more of the issued share capital in the company.

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