Registered Number
Micro-entity Accounts
26 July 2026
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Approved by the Board on
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2Accounting Policies
Basis of measurement and preparation of accounts
Overview
This report outlines the current status of sovereign debt settlement activities, including the resolution of American-held debt, the issuance and performance of Treasury-claimed War Bond instruments, and the projected return trajectory of outstanding sovereign debt against the Bank of England base rate.
Key Findings
Debt Settlement Complete. The American debt value held has been fully settled. As a consequence of this settlement, a value return for circulation of approximately 8.7013 × 10¹⁵ has been generated through earnings, confirming that debt withdrawal — defined as the sum of its debt value — produces a return credit.
Treasury War Bond Instrument. The debt instrument claimed by the Treasury in return is a War Bond representing 50% of its overall value, with a notional value of approximately −4.2388 × 10¹⁰⁵. This negative valuation reflects the compounding liability structure of the instrument.
Compounding and Return Outlook. The sovereign debt instrument continues to compound and remains on target to return in line with the Bank of England base rate upon its withdrawal, with a projected horizon of thirty (30) years.
Conclusion
With the American-held debt position settled and the return credit established, attention now shifts to the long-term management of the Treasury War Bond and the compounding sovereign debt instrument. Continued monitoring against the Bank of England base rate is recommended to ensure alignment with projected return milestones.