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REGISTERED NUMBER: 03380488 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

PRIVATE EQUITY LIMITED

PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488)

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 December 2025

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |

PRIVATE EQUITY LIMITED

COMPANY INFORMATION

for the year ended 31 December 2025

| DIRECTORS: | D J Wills

| T W Wills

| SECRETARY: | D J Wills

| REGISTERED OFFICE: | 5th Floor

| Palladium House

| 1-4 Argyll Street

| London

| W1F 7TA

| REGISTERED NUMBER: | 03380488 (England and Wales)

| ACCOUNTANTS: | Thorne Lancaster Parker

| 5th Floor

| Palladium House

| 1-4 Argyll Street

| London

| W1F 7TA

PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488)

STATEMENT OF FINANCIAL POSITION

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Investments | 5 | 1,148,000 |  | 1,020,000 |  |

CREDITORS

Amounts falling due within one year | 6 | (244 | ) | (244 | ) |

NET CURRENT LIABILITIES | (244 | ) | (244 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,147,756 |  | 1,019,756 |  |

CAPITAL AND RESERVES

Called up share capital | 7 | 66,000 |  | 66,000 |  |

Share premium | 8 | 63,000 |  | 63,000 |  |

Capital redemption reserve | 8 | 35,000 |  | 35,000 |  |

Retained earnings | 8 | 983,756 |  | 855,756 |  |

SHAREHOLDERS' FUNDS | 1,147,756 |  | 1,019,756 |  |

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 1 June 2026 and were signed on its behalf by:

D J Wills - Director

PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2025

1. | STATUTORY INFORMATION

| Private Equity 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Preparation of consolidated financial statements

| The financial statements contain information about Private Equity Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

| Taxation

| Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

| Current or deferred taxation assets and liabilities are not discounted.

| a) Current tax

| Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

| Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

| b) Deferred tax

| Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

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

PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 1,150,152 |  |

| PROVISIONS

| At 1 January 2025 | 130,152 |  |

| Provision for year | (128,000 | ) |

| At 31 December 2025 | 2,152 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,148,000 |  |

| At 31 December 2024 | 1,020,000 |  |

| The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

| Subsidiary

| Albemarle Venture Partner Limited

| Registered office: 5th Floor, Palladium House, 1-4 Argyll street, London W1F 7TA

| Nature of business: Investment company

| %

| Class of shares: | holding |

| Ordinary £1 | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 962,272 |  | 860,836 |  |

| Profit for the year | 101,436 |  | 88,870 |  |

PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

5. | FIXED ASSET INVESTMENTS - continued

| Associated company

| Room2Spare Limited

| Registered office: Unit G Aisecome Way, Weston-Super-Mare, Avon, BS22 8NA

| Nature of business: Storage space rental company

| %

| Class of shares: | holding |

| Ordinary £1 | 25.00 |

| 31.12.24 |  | 31.12.23

£ | £ |

| Aggregate capital and reserves | (236,366 | ) | (231,605 | ) |

| Loss for the year | (4,761 | ) | (7,498 | ) |

| The shares are held by Albemarle Venture Partner Limited and the last available accounts for the company were for the year ended 31 December 2024.

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | 244 |  | 244 |  |

7. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 66,000 | Ordinary | £1 | 66,000 |  | 66,000 |  |

8. | RESERVES

| Capital |

| Retained |  | Share |  | redemption |

| earnings |  | premium |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 January 2025 | 855,756 |  | 63,000 |  | 35,000 |  | 953,756 |  |

| Profit for the year | 128,000 |  | 128,000 |  |

| At 31 December 2025 | 983,756 |  | 63,000 |  | 35,000 |  | 1,081,756 |  |

9. | RELATED PARTY DISCLOSURES

| Albermarle Venture Partner Limited is a subsidiary undertaking of the company. At 31 December 2025, the company owed £244 to Albermarle Venture Partner Limited.

PRIVATE EQUITY LIMITED (REGISTERED NUMBER: 03380488)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

10. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is the director D J Wills.