Company No: 10623466 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investments	3	206,078		305
		206,078		305
Current assets
Debtors	4	13,643,243		6,139,963
Investments	5	5,778,905		5,579,934
Cash at bank and in hand		5,267		200,665
		19,427,415		11,920,562
Creditors: amounts falling due within one year	6	( 19,105,782)		( 11,274,327)
Net current assets		321,633		646,235
Total assets less current liabilities		527,711		646,540
Net assets		527,711		646,540
Capital and reserves
Called-up share capital	7	101		101
Profit and loss account		527,610		646,439
Total shareholder's funds		527,711		646,540

For the financial 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.

Directors' responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Fusion Global Investments Holdco Limited (registered number: 10623466) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A H Cohen Director

27 May 2026

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fusion Global Investments Holdco Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The principal activity of the Company during the financial year was that of a holding company.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts owed by group undertakings are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

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 the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade creditors and accruals, and amounts owed to group undertakings are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial assets and liabilities are offset and 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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	4		3

3. Fixed asset investments

	2025		2024
	£		£
Subsidiary undertakings	206,073		300
Participating interests	5		5
	206,078		305

Investments in subsidiaries

	2025
	£
Cost
At 01 September 2024	300
Additions	205,773
At 31 August 2025	206,073
Carrying value at 31 August 2025	206,073
Carrying value at 31 August 2024	300

	Investments in associates		Total
	£		£
Cost or valuation before impairment
At 01 September 2024	5		5
At 31 August 2025	5		5
Carrying value at 31 August 2025	5		5
Carrying value at 31 August 2024	5		5

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.08.2025	Ownership 31.08.2024	Held
Fusion Liverpool Central Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	100.00%	Direct
K Edward Court Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	100.00%	Direct
Fusion Birmingham Propco Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	100.00%	Direct
Fusion Portsmouth Propco Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	100.00%	Direct
Fusion Manchester Propco Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	100.00%	Direct
Fusion Sheff Propco 2 Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	100.00%	Direct
Fusion Glasgow Propco Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	100.00%	Direct
Fusion Investment Holdings Ltd	35 Ballards Lane, London, N3 1XW	Holding Company	Ordinary	100.00%	100.00%	Direct
Fusion Cardiff Propco Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	100.00%	Direct
Fusion Edinburgh Propco Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	100.00%	Direct
Fusion Wood Green Propco Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	0.00%	Direct
Fusion PBSA Platform Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	67.00%	0.00%	Direct
Fusion Students Ltd	35 Ballards Lane, London, N3 1XW	Property Investment	Ordinary	100.00%	0.00%	Direct

4. Debtors

	2025		2024
	£		£
Amounts owed by group undertakings	6,100,056		1,475,116
Other debtors	7,543,187		4,664,847
	13,643,243		6,139,963

Amounts owed by group undertakings consists of intracompany loans which are unsecured, interest free and repayable on demand.

5. Current asset investments

	2025		2024
	£		£
Other short term investments	5,778,905		5,579,934

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	36,476		0
Amounts owed to group undertakings	19,069,301		11,180,861
Taxation and social security	0		93,461
Other creditors	5		5
	19,105,782		11,274,327

Amounts owed to group undertakings consists of intracompany loans which are unsecured and repayable on demand.

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
101 Ordinary shares of £ 1.00 each	101		101

8. Security debts

There is a fixed and floating charge in a group entity covering all of the property and undertaking of that entity as well as a charge over the assets of the group. The outstanding charge includes a negative pledge.

9. Ultimate controlling party

Parent Company:

The parent undertaking is Fusion Global Investments LLP

The registered office address is 35 Ballards Lane, London, N3 1XW

The principal place of business is Fusion House, The Green, Letchmore Heath, Herts, WD25 8ER.