Company No: 11732378 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	C Acuna Quiroga
	X Freixes Portes

REGISTERED OFFICE	45 Gresham Street
	London
	EC2V 7BG
	United Kingdom

COMPANY NUMBER

11732378 (England and Wales)

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

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	387		792
Investments	5	315,931		345,931
		316,318		346,723
Current assets
Debtors
- due within one year	6	152,273		174,293
- due after more than one year	6	0		16,748
Cash at bank and in hand	7	84,552		155,168
		236,825		346,209
Creditors: amounts falling due within one year	8	( 132,637)		( 203,436)
Net current assets		104,188		142,773
Total assets less current liabilities		420,506		489,496
Net assets		420,506		489,496
Capital and reserves
Called-up share capital	9	155,000		155,000
Profit and loss account		265,506		334,496
Total shareholders' funds		420,506		489,496

For the financial year ending 31 December 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 Profit and Loss Account has not been delivered.

The financial statements of Ashtree Strategic Holdings Limited (registered number: 11732378) were approved and authorised for issue by the Board of Directors on 15 July 2026. They were signed on its behalf by:

X Freixes Portes Director

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

Ashtree Strategic Holdings 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 45 Gresham Street, London, EC2V 7BG, 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 Ashtree Strategic Holdings 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 Profit and Loss Account in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.

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.

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 or reducing balance basis over its expected useful life, as follows:

Office equipment

3.33 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

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

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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. Critical accounting judgements and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Judgements

Investments - indicators of impairment

At each reporting date, Section 27 of FRS 102 requires management to assess whether there are any factors which could indicate that the investments are impaired in value. This assessment requires the exercise of judgement.

As at the reporting date, management considered that there were no impairment indicators and therefore there is no requirement to re-assess the carrying value of investments.

Assessment of loan interest

In accordance with the accounting policies above, at the inception of a loan, management have to assess if the interest rate equates to a market rate of interest. If the interest rate is judged not to be a market rate, then the carrying value of the loan is adjusted to reflect the net benefit or cost arising and subsequently the loan interest is based on the estimated market rate interest and the adjusted loan value.

Management’s judgement was that the interest rate applicable is reflective of the market rate.

Estimates

The financial statements do not include any material estimates. No significant judgements have had to be made by the directors in preparing these financial statements.

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

	Office equipment		Total
	£		£
Cost
At 01 January 2025	2,313		2,313
At 31 December 2025	2,313		2,313
Accumulated depreciation
At 01 January 2025	1,521		1,521
Charge for the financial year	405		405
At 31 December 2025	1,926		1,926
Net book value
At 31 December 2025	387		387
At 31 December 2024	792		792

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2025	345,931		345,931
Disposals	( 30,000)		( 30,000)
At 31 December 2025	315,931		315,931
Carrying value at 31 December 2025	315,931		315,931
Carrying value at 31 December 2024	345,931		345,931

6. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Prepayments and accrued income	3,291		28,934
Other debtors	148,982		145,359
	152,273		174,293
Debtors: amounts falling due after more than one year
Trade debtors	0		16,748

On 30 July 2023 the company received a fixed rate, unsecured, convertible loan note for a consideration of £15,000. The loan note carried interest at 8%. The loan note was fully settled during the financial year and no balance remained outstanding at the year end.

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	84,552		155,168

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	9,865		498
Amounts owed to directors	115,287		188,091
Accruals	7,485		6,957
Taxation and social security	0		7,890
	132,637		203,436

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
155,000 Ordinary shares of £ 1.00 each	155,000		155,000
Allotted, called-up and not yet paid

10. Related party transactions

At the balance sheet date, the company owed £115,287 (2024: £188,091) to the directors of the company. The loan is unsecured, interest free and is repayable on demand.