The Directors present their annual report and unaudited financial statements of WIC (UK) LTD (the “Company”) for the year ended 30 September 2025.

The Directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial period. The Directors have elected to prepare the financial statements in accordance with United Kingdom Accounting Standards, including FRS 102 ("FRS 102") section 1A small entities and the UK Companies Act 2006. The financial statements are required to give a true and fair view of the state of affairs of the Company and of 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 judgements and accounting estimates that are reasonable and prudent;

>    state whether applicable accounting standards, including FRS 102, have been followed, subject to any    material departures disclosed and explained in the financial statements; and

>    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 to enable the Directors to ensure that the financial statements comply with the UK 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.

The principal activity of the Company continued to be that of investment holding.

The Directors who held office during the year and through to the date of signing of the financial statements were as follows:

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

For the financial year ended 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question 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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

WIC (UK) LTD (the "Company") is a private company limited by shares incorporated in England and Wales on 24 November 2024, registration number 09325419. The registered office is 5th Floor, 2 Copthall Avenue, London, United Kingdom, EC2R 7DA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the UK Companies Act 2006 as applicable to companies subject to the small companies regime. 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.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value.

Income was generated through the sale of unlisted investments and investment income received.

Investments in unlisted company shares are remeasured to market value at each Statement of Financial Position Date.

Unrealised gains and losses on unlisted investments are initially recognised in the Statement of Comprehensive Income and are subsequently transferred to the revaluation reserve at the period end, if remaining unrealised. Impairments that offset previous gains of the same asset are transferred to the revaluation reserve. All other impairments are not transferred to the revaluation reserve.

Realised gains and losses are recognised in the Statement of Comprehensive Income.

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.

The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position 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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

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 deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

The Company is subject to Corporation Tax at the applicable rate, which is currently 25% (2024: 25%).

Employees

The average number of employees during the year were 0 (2024: 0)

In the application of the Company’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

During 2025 162.687 A-1 shares in Oberon Credit Investment Fund IV S.C.A. SICAV-RAIF (the "Fund") were redeemed. During the year, the Fund generated €47,872 (2024: €224,274) of income, which was recognised in the Statement of Comprehensive Income. The Fund was placed into liquidation on the 21 March 2025.

As at the year end, the Company held 0.531 units in the Fund.

The loan facility to Goshawk S.àr.l. is unsecured, interest free and repayable on demand.

The loan facility to Bond Street Real Estate Holdings Limited had been provided for an initial period of 10 years, with an option to extend the repayment date as mutually agreeable by both parties. The loans bore interest at 0.5% per annum for an initial period of 24 months from the draw down date, being 29 February 2016. With effect from 1 March 2018, the loans have accrued quarterly interest in arrears at 2.05% per annum. The loan is unsecured.

Pursuant to the Balance Sheet date the loan due by Bond Street Holdings Limited was extended for a further 10 year period expiring 1 March 2036.