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REGISTERED NUMBER: OC306427

Allchem LLP

Unaudited Financial Statements

31 December 2025

Allchem LLP

Financial Statements

Year ended 31 December 2025

Contents | Page

Designated members and professional advisers | 1

Members' report | 2

Chartered accountant's report to the members on the preparation of the unaudited statutory financial statements | 3

Statement of comprehensive income | 4

Statement of financial position | 5

Reconciliation of members' interests | 6

Notes to the financial statements | 8

Allchem LLP

Designated Members and Professional Advisers

Designated members | Middleton (BVI) Ltd
| Crawford Holdings (BVI) Ltd

Registered office | C/O Bulldog Global Financial Services (UK) Ltd
| Birchin Court
| 20 Birchin Ln
| London
| England
| EC3V 9DU

OC306427

Accountants | Bulldog Global Financial Services (UK) Ltd.
| Chartered accountants
| Birchin Court
| 20 Birchin Ln
| London
| England
| EC3V 9DU

Allchem LLP

Members' Report

Year ended 31 December 2025
The members present their report and the unaudited financial statements of the LLP for the year ended 31 December 2025 .
Principal activities
The principal activity of the limited liability partnership continued to be that of holding investments including land and property outside of the United Kingdom. Both the members of the limited liability partnership are non-residents of the United Kingdom.
Designated members
The designated members who served the LLP during the year were as follows:

Middleton (BVI) Ltd | (Appointed 9 December 2025)
Crawford Holdings (BVI) Ltd | (Appointed 9 December 2025)

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.
New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.
The Members' have reviewed the Company's financial position and future projections for a period of at least twelve months from the date of approval of the financial statements. Based on this review, the Members' have a reasonable expectation that the Company has adequate resources to continue its operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis. The Members' are not aware of any material uncertainties that may cast significant doubt upon the Company's ability to continue as a going concern.
This report was approved by the members on 23 July 2026 and signed on behalf of the members by:

Middleton (BVI) Ltd | Crawford Holdings (BVI) Ltd
Designated Member | Designated Member

Allchem LLP

Chartered Accountant's Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of Allchem LLP

Year ended 31 December 2025
As described on the statement of financial position, the members of the LLP are responsible for the preparation of the financial statements for the year ended 31 December 2025, which comprise the statement of comprehensive income, statement of financial position, reconciliation of members' interests and the related notes. You consider that the LLP is exempt from an audit under the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Bulldog Global Financial Services (UK) Ltd. Chartered accountants
Birchin Court 20 Birchin Ln London England EC3V 9DU
23 July 2026

Allchem LLP

Statement of Comprehensive Income

Year ended 31 December 2025

| 2025 | 2024
Note | £ | £

Administrative expenses | ( 53,396) | 120,214
|  | -------- | ---------
Operating profit/(loss) | 4 | 53,396 | ( 120,214)

Amounts written off investments | 5 | 343,842 | –
| --------- | ---------
Loss for the financial year before members' remuneration and profit shares available for discretionary division among members | (290,446) | (120,214)
| --------- | ---------

All the activities of the LLP are from continuing operations.

Allchem LLP

Statement of Financial Position

31 December 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 7 | 2,360,387 | 2,360,387
Investments | 8 | 1,887,084 | –
| ------------ | ------------
| 4,247,471 | 2,360,387

Current assets

Debtors | 9 | – | 2,230,926

Creditors: amounts falling due within one year | 10 | – | 53,396
| ---- | ------------
Net current assets | – | 2,177,530
| ------------ | ------------
Total assets less current liabilities | 4,247,471 | 4,537,917
| ------------ | ------------

Represented by:
Loans and other debts due to members

Other amounts | 11 | 4,247,371 | 4,537,817

Members' other interests

Members' capital classified as equity | 100 | 100
Other reserves, including the fair value reserve | – | –
| ------------ | ------------
| 4,247,471 | 4,537,917
| ------------ | ------------

Total members' interests

Loans and other debts due to members | 11 | 4,247,371 | 4,537,817
Members' other interests | 100 | 100
| ------------ | ------------
| 4,247,471 | 4,537,917
| ------------ | ------------

For the year ending 31 December 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
These financial statements were approved by the members and authorised for issue on 23 July 2026 , and are signed on their behalf by:

Middleton (BVI) Ltd | Crawford Holdings (BVI) Ltd
Designated Member | Designated Member

Allchem LLP

Reconciliation of Members' Interests

Year ended 31 December 2025

| Members' other interests | Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
| Members' capital (classified as equity) | Other reserves, including the fair value reserve | Total | Other amounts | Total | Total 2025
| £ | £ | £ | £ | £ | £
Balance at 1 January 2025 | 100 | – | 100 | 4,537,817 | 4,537,817 | 4,537,917
Loss for the financial year available for discretionary division among members |  | (290,446) | (290,446) |  |  | (290,446)
| ---- | --------- | --------- | ------------ | ------------ | ------------
Members' interests after loss for the year | 100 | (290,446) | (290,346) | 4,537,817 | 4,537,817 | 4,247,471
Other division of profits |  | 290,446 | 290,446 | (290,446) | (290,446) | –
Introduced by members | 100 |  | 100 | 4,537,817 | 4,537,817 | 4,537,917
Repayments of capital | (100) |  | (100) |  | – | (100)
Other movements | – | – | – | (4,537,817) | (4,537,817) | (4,537,817)
| ---- | --------- | --------- | ------------ | ------------ | ------------
Balance at 31 December 2025 | 100 | – | 100 | 4,247,371 | 4,247,371 | 4,247,471
| ---- | --------- | --------- | ------------ | ------------ | ------------

Allchem LLP

Reconciliation of Members' Interests (continued)

Year ended 31 December 2025

| Members' other interests | Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
| Members' capital (classified as equity) | Other reserves, including the fair value reserve | Total | Other amounts | Total | Total 2024
| £ | £ | £ | £ | £ | £
Balance at 1 January 2024 | 100 | – | 100 | 4,658,031 | 4,658,031 | 4,658,131
Loss for the financial year available for discretionary division among members |  | (120,214) | (120,214) |  |  | (120,214)
| ---- | --------- | --------- | ------------ | ------------ | ------------
Members' interests after loss for the year | 100 | (120,214) | (120,114) | 4,658,031 | 4,658,031 | 4,537,917
Other division of profits |  | 120,214 | 120,214 | (120,214) | (120,214) | –
Introduced by members | – |  | – | – | – | –
Repayments of capital | – |  | – |  | – | –
Other movements | – | – | – | – | – | –
| ---- | --------- | --------- | ------------ | ------------ | ------------
Balance at 31 December 2024 | 100 | – | 100 | 4,537,817 | 4,537,817 | 4,537,917
| ---- | --------- | --------- | ------------ | ------------ | ------------

Allchem LLP

Notes to the Financial Statements

Year ended 31 December 2025

1. | General information

The LLP is registered in England and Wales. The address of the registered office is C/O Bulldog Global Financial Services (UK) Ltd, Birchin Court, 20 Birchin Ln, London, EC3V 9DU, England.

2. | Statement of compliance

These financial statements have been prepared in compliance with FRS102,'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice' Accounting by Limited Liability Partnerships' issued in May 2024 (SORP 2024).

3. | Accounting policies

Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and the Limited Liability Partnership Statement of Recommended Practice, which have been applied consistently (except as otherwise stated).
Current asset investments are stated at the lower of cost or net realisable value.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Allchem LLP

Notes to the Financial Statements (continued)

Year ended 31 December 2025
3. Accounting policies (continued)
Members' participation rights (continued)
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. | Operating profit/(loss)

Operating profit or loss is stated after charging/crediting:

| 2025 | 2024
| £ | £
Impairment of trade debtors | (64,801) | –
Foreign exchange differences | – | 102,119
| -------- | ---------

5. | Amounts written off investments

| 2025 | 2024
| £ | £
Impairment of investments | 343,842 | –
| --------- | ----

6. | Information in relation to members

| 2025 | 2024
| No. | No.
Average number of members | 2 | 2
| ---- | ----

7. | Tangible assets

| Land and buildings
| £
Cost |
At 1 January 2025 and 31 December 2025 | 2,360,387
| ------------
Depreciation |
At 1 January 2025 and 31 December 2025 | –
| ------------
Carrying amount |
At 31 December 2025 | 2,360,387
| ------------
At 31 December 2024 | 2,360,387
| ------------

8. | Investments

| Other investments other than loans
| £
Cost |
At 1 January 2025 | –
Additions | 2,230,926
| ------------
At 31 December 2025 | 2,230,926
| ------------
Impairment |
At 1 January 2025 | –
Revaluations | 343,842
| ------------
At 31 December 2025 | 343,842
| ------------

Carrying amount |
At 31 December 2025 | 1,887,084
| ------------
At 31 December 2024 | –
| ------------

Investment in Agropecuaria Quintos de Estena SL
The LLP holds a 50% interest in the capital of Agropecuaria Quintos de Estena SL (jointly controlled entity). The total carrying value of the investment is EUR 2,297,757.53 converted to £1,887,083.80.

9. | Debtors

| 2025 | 2024
| £ | £
Other debtors | – | 2,230,926
| ---- | ------------

10. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Other creditors | – | 53,396
| ---- | --------

11. | Loans and other debts due to members

| 2025 | 2024
| £ | £
Amounts owed to members in respect of profits | 4,247,371 | 4,537,817
| ------------ | ------------

Members loan are non interest bearing and payable on demand.

12. |