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REGISTERED NUMBER: 00769039 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

ALBEMARLE VENTURE PARTNER LIMITED

ALBEMARLE VENTURE PARTNER LIMITED (REGISTERED NUMBER: 00769039)

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 | 4 |

ALBEMARLE VENTURE PARTNER LIMITED

COMPANY INFORMATION

for the year ended 31 December 2025

| DIRECTORS: | D J Wills

| R Cameron-Clarke

| T W Wills

| SECRETARY: | D J Wills

| REGISTERED OFFICE: | 5th Floor

| Palladium House

| 1-4 Argyll Street

| London

| W1F 7TA

| REGISTERED NUMBER: | 00769039 (England and Wales)

| ACCOUNTANTS: | Thorne Lancaster Parker

| 5th Floor

| Palladium House

| 1-4 Argyll Street

| London

| W1F 7TA

ALBEMARLE VENTURE PARTNER LIMITED (REGISTERED NUMBER: 00769039)

STATEMENT OF FINANCIAL POSITION

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Property, plant and equipment | 5 | 473 |  | 1,166 |  |

Investments | 6 | 815,149 |  | 761,464 |  |

815,622 |  | 762,630 |  |

CURRENT ASSETS

Debtors | 7 | 936 |  | 360 |  |

Cash at bank | 207,548 |  | 219,429 |  |

208,484 |  | 219,789 |  |

CREDITORS

Amounts falling due within one year | 8 | (61,834 | ) | (121,583 | ) |

NET CURRENT ASSETS | 146,650 |  | 98,206 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 962,272 |  | 860,836 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 154,750 |  | 154,750 |  |

Fair value reserve | 10 | 164,545 |  | 139,735 |  |

Capital reserve | 10 | 45,250 |  | 45,250 |  |

Retained earnings | 10 | 597,727 |  | 521,101 |  |

SHAREHOLDERS' FUNDS | 962,272 |  | 860,836 |  |

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.

ALBEMARLE VENTURE PARTNER LIMITED (REGISTERED NUMBER: 00769039)

STATEMENT OF FINANCIAL POSITION - continued

31 December 2025

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

ALBEMARLE VENTURE PARTNER LIMITED (REGISTERED NUMBER: 00769039)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2025

1. | STATUTORY INFORMATION

| Albemarle Venture Partner 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 as modified by the revaluation of certain assets.

| Investments

| Listed equity investments which are not subsidiaries, associates or joint ventures are initially measured at transaction price and subsequently carried at fair value and the changes in fair value are recognised in profit or loss.

| Unlisted equity investments which are not subsidiaries, associates or joint ventures whose fair values cannot be measured reliably are measured at cost less impairment.

| Investment income

| Investment income represents the total amount receivable in the ordinary course of business.

| Property, plant and equipment

| Property, plant and equipment are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

| Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows;

| Computer equipment |  | - 25% on cost |  |

| The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

| Investments in associates

| Investments in associate undertakings are recognised at cost.

ALBEMARLE VENTURE PARTNER LIMITED (REGISTERED NUMBER: 00769039)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| Other financial assets

| Listed equity investments which are not subsidiaries, associates or joint ventures are initially measured at transaction price and subsequently carried at fair value and the changes in fair value are recognised in profit or loss.

| Unlisted equity investments which are not subsidiaries, associates or joint ventures whose fair values cannot be measured reliably are measured at cost less impairment.

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

| Basic financial liabilities

| Trade and other creditors, accruals, director loans and amounts owed to group undertakings are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

| Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

| 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.

| Deferred tax

| 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.

ALBEMARLE VENTURE PARTNER LIMITED (REGISTERED NUMBER: 00769039)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Transactions in currencies other than the functional currency (foreign currencies) are initially recorded at the standard exchange rate ruling for the period.

| Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the reporting date.

| Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

| All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

4. | EMPLOYEES AND DIRECTORS

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

5. | PROPERTY, PLANT AND EQUIPMENT

| Computer

| equipment

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 5,341 |  |

| DEPRECIATION

| At 1 January 2025 | 4,175 |  |

| Charge for year | 693 |  |

| At 31 December 2025 | 4,868 |  |

| NET BOOK VALUE

| At 31 December 2025 | 473 |  |

| At 31 December 2024 | 1,166 |  |

6. | FIXED ASSET INVESTMENTS

2025 | 2024 |

£ | £ |

| Participating interests | 12,500 |  | 12,500 |  |

| Loans to undertakings in which the company has a participating interest | 55,450 |  | 60,250 |  |

| Other investments not loans | 747,199 |  | 688,714 |  |

815,149 |  | 761,464 |  |

ALBEMARLE VENTURE PARTNER LIMITED (REGISTERED NUMBER: 00769039)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

6. | FIXED ASSET INVESTMENTS - continued

| Additional information is as follows:

| Interest |

| in |  | Listed |  | Unlisted |

| associate |  | investments |  | investments |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 January 2025 | 12,500 |  | 671,952 |  | 16,762 |  | 701,214 |  |

| Additions | - |  | 198,591 |  | - |  | 198,591 |  |

| Disposals | - |  | (228,118 | ) | - |  | (228,118 | ) |

| Revaluations | - |  | 88,012 |  | - |  | 88,012 |  |

| At 31 December 2025 | 12,500 |  | 730,437 |  | 16,762 |  | 759,699 |  |

| NET BOOK VALUE

| At 31 December 2025 | 12,500 |  | 730,437 |  | 16,762 |  | 759,699 |  |

| At 31 December 2024 | 12,500 |  | 671,952 |  | 16,762 |  | 701,214 |  |

| Cost or valuation at 31 December 2025 is represented by:

| Interest |

| in |  | Listed |  | Unlisted |

| associate |  | investments |  | investments |  | Totals

£ | £ | £ | £ |

| Valuation in 2025 | - |  | 164,545 |  | - |  | 164,545 |  |

| Cost | 12,500 |  | 565,892 |  | 16,762 |  | 595,154 |  |

12,500 |  | 730,437 |  | 16,762 |  | 759,699 |  |

| If listed investments had not been revalued they would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 565,892 |  | 532,218 |  |

ALBEMARLE VENTURE PARTNER LIMITED (REGISTERED NUMBER: 00769039)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

6. | FIXED ASSET INVESTMENTS - continued

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

| Associated company

| Room2Spare Limited

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

| Nature of business: Storage space rental

| %

| Class of shares: | holding |

| Ordinary of £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 last available accounts for the company were for the year ended 31 December 2024.

| Loans to

| associates

£ |

| At 1 January 2025 | 60,250 |  |

| Repayment in year | (4,800 | ) |

| At 31 December 2025 | 55,450 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Amounts owed by group undertakings | 244 |  | 244 |  |

| Prepayments and accrued income | 692 |  | 116 |  |

936 |  | 360 |  |

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

2025 | 2024 |

£ | £ |

| Other creditors | 15,311 |  | 15,311 |  |

| Directors' loan accounts | 2,468 |  | 2,468 |  |

| Accruals and deferred income | 44,055 |  | 103,804 |  |

61,834 |  | 121,583 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 154,750 | Ordinary | £1 | 154,750 |  | 154,750 |  |

ALBEMARLE VENTURE PARTNER LIMITED (REGISTERED NUMBER: 00769039)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

10. | RESERVES

| Fair |

| Retained |  | value |  | Capital |

| earnings |  | reserve |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 January 2025 | 521,101 |  | 139,735 |  | 45,250 |  | 706,086 |  |

| Profit for the year | 101,436 |  | - |  | - |  | 101,436 |  |

| Revaluation | (88,012 | ) | 88,012 |  | - |  | - |  |

| Transfer | 63,202 |  | (63,202 | ) | - |  | - |  |

| At 31 December 2025 | 597,727 |  | 164,545 |  | 45,250 |  | 807,522 |  |

11. | RELATED PARTY DISCLOSURES

| Private Equity Limited (PEL)

| At the balance sheet date the amount owed by PEL, the parent undertaking, is £244 (2024: £244).

| Room2Spare Limited (R2SL)

| At the balance sheet date R2SL, an associated undertaking, owed the company £55,450 by way of an unsecured loan note, and this amount is included in investments. The loan originally bore interest at 15% p.a. and was repayable on 31 December 2007. The terms have been informally varied with no fixed repayment date. Interest of £nil has been recognised in the year and unpaid interest amounting to £116,203 is included within prepayments and accrued income which has been provided for in full .

| D J Wills

| At the balance sheet date the total amount due to Mr D J Wills was £2,468 (2024: £2,468). This amount is unsecured and there are no formal terms relating to interest or repayment.

| In the year ended 31 December 2025 the company paid interest of £60,000 to Mr D J Wills which had been previously accrued. At the year end there is unpaid interest relating to an earlier loan since fully repaid amounting to £35,000, and this amount is included in accruals.

12. | ULTIMATE CONTROLLING PARTY

| The controlling party is Private Equity Limited.

| The ultimate controlling party is D J Wills.