REGISTERED NUMBER: 00726495 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

SUMMIT TRUST COMPANY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R M Lee-Smith

S Mitchell-Voisin

REGISTERED OFFICE:

54 Portland Place

London

United Kingdom

W1B 1DY

REGISTERED NUMBER:

00726495 (England and Wales)

AUDITORS:

Grant Thornton Limited

St James Place

St James Street

St Peter Port

Guernsey

GY1 2NZ

FIXED ASSETS

Investments

3

857

1,297

CURRENT ASSETS

Debtors

4

213,233

222,330

Cash at bank

33,786

14,041

247,019

236,371

CREDITORS

Amounts falling due within one year

5

(50,444

)

(53,310

)

NET CURRENT ASSETS

196,575

183,061

TOTAL ASSETS LESS CURRENT LIABILITIES

197,432

184,358

CAPITAL AND RESERVES

Called up share capital

6

100,000

100,000

Retained earnings

97,432

84,358

SHAREHOLDERS' FUNDS

197,432

184,358

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2026 and were signed on its behalf by:

R M Lee-Smith - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared under the historical cost convention, give a true and fair view, have been prepared in compliance with the United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland September 2015 ('FRS102') Section 1A for Small Entities, issued by the Financial Reporting Council "accounting standards" and are in compliance with the Companies Act 2006.

The financial statements are prepared in sterling £ being the functional and presentational currency of the Company.

Going concern

At the time of approving the financial statements, the directors have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, due to the continued support of its immediate parent company for trading. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover comprises fees for acting as a Trustee of inter vivos settlements (excluding VAT), for providing company administration and for providing consultancy services to other group companies. Fees in respect of services are recognised as the right to consideration accrues through performance of services for clients.

Expenses

Expenses are accounted for on an accruals basis.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Deprecation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:

Computer equipment

20% - 33% straight line

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.

Financial instruments

The Company has elected to apply the provisions of Section 11 'Basis Financial Instruments' and Selection 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, amounts due from parent undertaking and cash and cash equivalents are initially recognised at transaction costs are subsequently carried at amortised cost using effect interest method.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards or ownership are retained be control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract and evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables, 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.

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

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Foreign currency

Functional and presentation currency

The Company's functional and presentation currency is the pound sterling (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the unaudited income statement.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Equity instruments

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Operating lease

Rentals payable under operating lease are generally charged to profit or loss on a straight-line basis over the lease term. However, when rental payments are structured to increase in line with expected general inflation the Company recognises rent expense equal to amounts owed to the lessor for the annual period.

The aggregate benefits of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight-line basis.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Exemptions for entities under FRS 102 Section 1A

The Company has taken advantage of the following exemption:

- from preparing a statement of cash flows in accordance with Section 7 of the standard.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

3.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2025

and 31 December 2025

4,235

PROVISIONS

At 1 January 2025

2,938

Provision for year

440

At 31 December 2025

3,378

NET BOOK VALUE

At 31 December 2025

857

At 31 December 2024

1,297

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

7,261

Amounts owed by group undertakings

118,661

179,470

Other debtors

9,762

8,607

VAT receivable

4,288

-

Prepayments and accrued income

80,522

26,992

213,233

222,330

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Accruals and deferred income

23,684

49,395

VAT payable

-

628

Taxation payable

3,068

-

Trade creditors

23,692

3,287

50,444

53,310

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100,000

Ordinary

£1

100,000

100,000

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Carpenter Michael Carpenter

for and on behalf of Grant Thornton Limited

8.	POST BALANCE SHEET EVENTS

No events have occurred from the date of these financial statements up to the date of the approval and signing that require adjustment or additional disclosure.

9.	OPERATING LEASE COMMITMENTS

At the reporting end date the Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025

2024

£

£

75,240

26,054

10.	PARENT COMPANY

The immediate parent company is Summit Trust International SA, a company registered in Switzerland. The ultimate parent company is Summit Group Holdings Limited, a company registered in Guernsey.

The results of the Company are included in the consolidated financial statements of Summit Group Holdings Limited, a company incorporated in Guernsey whose registered office is Mill Court, Level 5, La Charroterie, St Peter Port, Guernsey, GY1 1EJ.

11.	EMPLOYEE BENEFITS

In both 2025 and 2024 only one of the directors was employed by the Company and received remuneration and pension benefits from the Company. The other director who served during the year is employed and remunerated by other group undertakings in respect of their services to the group as a whole.