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Company No: 09793244 (England and Wales)

# BLUEKEEP INVESTMENTS LIMITED

### Unaudited Financial Statements
For the financial year ended 30 September 2025
Pages for filing with the registrar

BLUEKEEP INVESTMENTS LIMITED

## Unaudited Financial Statements

For the financial year ended 30 September 2025

Contents

BLUEKEEP INVESTMENTS LIMITED

## COMPANY INFORMATION

For the financial year ended 30 September 2025
BLUEKEEP INVESTMENTS LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 30 September 2025

DIRECTORS | Dr H Badra
| M Elguindi

REGISTERED OFFICE | 48 Suffolk Road
| London
| SW13 9NR
| United Kingdom

COMPANY NUMBER | 09793244 (England and Wales)

ACCOUNTANT | S&W Partners LLP
| Onslow House
| Onslow Street
| Guildford
| GU1 4TL

BLUEKEEP INVESTMENTS LIMITED

## BALANCE SHEET

As at 30 September 2025
BLUEKEEP INVESTMENTS LIMITED

## BALANCE SHEET (continued)

As at 30 September 2025

| Note | 2025 |  | 2024
|  | £ |  | £
|  |  |  | Restated - note 2
Fixed assets |  |  |  |
Tangible assets | 4 | 339 |  | 679
Investments | 5 | 1,805,342 |  | 2,465,611
|  | 1,805,681 |  | 2,466,290
Current assets |  |  |  |
Debtors | 6 | 23,329 |  | 4,111
Cash at bank and in hand |  | 332 |  | 0
|  | 23,661 |  | 4,111
Creditors: amounts falling due within one year | 7 | ( 1,460,341) |  | ( 2,064,465)
Net current liabilities |  | (1,436,680) |  | (2,060,354)
Total assets less current liabilities |  | 369,001 |  | 405,936
Provision for liabilities | 8 | ( 33,886) |  | ( 33,513)
Net assets |  | 335,115 |  | 372,423
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 335,015 |  | 372,323
Total shareholders' funds |  | 335,115 |  | 372,423

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

Directors' responsibilities:

- The members have 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 Bluekeep Investments Limited (registered number: 09793244) were approved and authorised for issue by the Board of Directors on 03 June 2026. They were signed on its behalf by:

M Elguindi Director |

BLUEKEEP INVESTMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2025
BLUEKEEP INVESTMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2025

##### 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

Bluekeep Investments 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 48 Suffolk Road, London, SW13 9NR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Bluekeep Investments Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.

##### Going concern

The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

##### 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.

##### 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 Balance Sheet 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 enacted or substantively enacted 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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

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

##### Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Investments in listed shares are classified as basic financial instruments. They are initially measured at transaction price and subsequently measured at fair value, with changes in fair value being recognised in profit or loss. Fair value is determined using the quoted bid price at the balance sheet date.
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

#### 2. Prior year adjustment

The comparative figures presented in the Statement of Income and Retained Earnings and the Balance Sheet have been restated. The amounts for Other Non‑Operating Losses and Debtors Due Within One Year have been updated to include the derivatives asset relating to GBP/USD futures of £2,222 as at 30 September 2024.

#### 3. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 4. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 October 2024 | 1,359 |  | 1,359
At 30 September 2025 | 1,359 |  | 1,359
Accumulated depreciation |  |  |
At 01 October 2024 | 680 |  | 680
Charge for the financial year | 340 |  | 340
At 30 September 2025 | 1,020 |  | 1,020
Net book value |  |  |
At 30 September 2025 | 339 |  | 339
At 30 September 2024 | 679 |  | 679

#### 5. Fixed asset investments

| Listed investments |  | Other investments |  | Total
| £ |  | £ |  | £
Cost or valuation before impairment |  |  |  |  |
At 01 October 2024 | 2,332,934 |  | 132,677 |  | 2,465,611
Additions | 9,374 |  | 0 |  | 9,374
Disposals | ( 511,650) |  | 0 |  | ( 511,650)
Movement in fair value | ( 66,036) |  | 0 |  | ( 66,036)
At 30 September 2025 | 1,764,622 |  | 132,677 |  | 1,897,299
Provisions for impairment |  |  |  |  |
At 01 October 2024 | 0 |  | 0 |  | 0
Impairment | 0 |  | 91,957 |  | 91,957
At 30 September 2025 | 0 |  | 91,957 |  | 91,957
Carrying value at 30 September 2025 | 1,764,622 |  | 40,720 |  | 1,805,342
Carrying value at 30 September 2024 | 2,332,934 |  | 132,677 |  | 2,465,611

Other investments are measured at cost less impairment. During the year, an impairment charge of £91,957 was recognised in relation to the Seaton Place LFC investment, reducing its carrying value to the recoverable amount of £40,720 following confirmation from the director that no further recoveries are expected.

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Prepayments | 477 |  | 302
Derivative financial instruments | 0 |  | 2,222
Other debtors | 22,852 |  | 1,587
| 23,329 |  | 4,111

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank overdrafts | 46,955 |  | 559,285
Trade creditors | 0 |  | 12,465
Amounts owed to directors | 1,384,906 |  | 1,479,627
Accruals | 16,012 |  | 13,088
Taxation and social security | 10,449 |  | 0
Derivative financial instruments | 2,019 |  | 0
| 1,460,341 |  | 2,064,465

There are two fixed and floating charges held over the company's assets: 1) by UBS AG, London Branch, as per the terms of the Certificate of Registration, dated 23 June 2025 and delivered on 10 July 2025. 2) by Credit Suisse (UK) Ltd, as per the terms of the Certificate of Registration, dated 10 December 2015 and delivered on 11 December 2015. At the year end, both charges remain outstanding.

#### 8. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 33,513) |  | ( 11,184)
Charged to the Statement of Income and Retained Earnings | ( 373) |  | ( 22,329)
At the end of financial year | ( 33,886) |  | ( 33,513)

The deferred taxation balance is made up as follows:

| 2025 |  | 2024
| £ |  | £
Fixed asset timing differences | ( 85) |  | ( 170)
Capital gains | ( 33,801) |  | ( 55,038)
Losses and other deductions | 0 |  | 21,695
| ( 33,886) |  | ( 33,513)

#### 9. Related party transactions

Transactions with the entity's directors

At the year end, the Company owed the director £1,384,906 (2024 - £1,479,627). This loan is interest free, unsecured and repayable on demand.
The director has provided a £1,000,000 guarantee to Credit Suisse (UK) Limited in respect of the Company's overdraft.