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Company No: 14997070 (England and Wales)

# GOLDTREE RESERVE N.2 LTD

### Unaudited Financial Statements
For the financial year ended 31 July 2025
Pages for filing with the registrar

GOLDTREE RESERVE N.2 LTD

## Unaudited Financial Statements

For the financial year ended 31 July 2025

Contents

GOLDTREE RESERVE N.2 LTD

## COMPANY INFORMATION

For the financial year ended 31 July 2025
GOLDTREE RESERVE N.2 LTD

## COMPANY INFORMATION (continued)

For the financial year ended 31 July 2025

DIRECTOR | Jacob Gregory Moore

REGISTERED OFFICE | 20 Wenlock Road
| London
| N1 7GU
| United Kingdom

COMPANY NUMBER | 14997070 (England and Wales)

ACCOUNTANT | Gravita Business Services II Limited
| Aldgate Tower
| 2 Leman Street
| London
| E1 8FA
| United Kingdom

GOLDTREE RESERVE N.2 LTD

## BALANCE SHEET

As at 31 July 2025
GOLDTREE RESERVE N.2 LTD

## BALANCE SHEET (continued)

As at 31 July 2025

| Note | 31.07.2025 |  | 31.07.2024
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 3 | 4,030,869 |  | 1,582,316
|  | 4,030,869 |  | 1,582,316
Current assets |  |  |  |
Debtors | 4 | 1 |  | 1
|  | 1 |  | 1
Creditors: amounts falling due within one year | 5 | ( 4,200) |  | ( 1,800)
Net current liabilities |  | (4,199) |  | (1,799)
Total assets less current liabilities |  | 4,026,670 |  | 1,580,517
Creditors: amounts falling due after more than one year | 6 | ( 4,030,869) |  | ( 1,582,316)
Net liabilities |  | ( 4,199) |  | ( 1,799)
Capital and reserves |  |  |  |
Called-up share capital |  | 1 |  | 1
Profit and loss account |  | ( 4,200 ) |  | ( 1,800 )
Total shareholder's deficit |  | ( 4,199) |  | ( 1,799)

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges 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 Goldtree Reserve N.2 Ltd (registered number: 14997070) were approved and authorised for issue by the Director on 05 August 2026. They were signed on its behalf by:

Jacob Gregory Moore Director |

GOLDTREE RESERVE N.2 LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025
GOLDTREE RESERVE N.2 LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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 period, unless otherwise stated.

##### General information and basis of accounting

Goldtree Reserve N.2 Ltd (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 20 Wenlock Road, London, N1 7GU, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the 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 except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### 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.

Non-financial assets
At each balance sheet date, the Company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

##### 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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| Year ended 31.07.2025 |  | Period from 12.07.2023 to 31.07.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 0 |  | 0

#### 3. Fixed asset investments

| Listed investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 August 2024 | 1,582,316 |  | 1,582,316
Additions | 1,830,803 |  | 1,830,803
Reinvestment transfer from Goldtree Reserve Ltd | 617,750 |  | 617,750
At 31 July 2025 | 4,030,869 |  | 4,030,869
Carrying value at 31 July 2025 | 4,030,869 |  | 4,030,869
Carrying value at 31 July 2024 | 1,582,316 |  | 1,582,316

The Company received a reinvestment transfer from Goldtree Reserve Ltd amounting to EUR 739,192, equivalent to GBP 617,750

#### 4. Debtors

| 31.07.2025 |  | 31.07.2024
| £ |  | £
Other debtors | 1 |  | 1

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

| 31.07.2025 |  | 31.07.2024
| £ |  | £
Amounts owed to Group undertakings | 1,800 |  | 0
Other creditors | 2,400 |  | 1,800
| 4,200 |  | 1,800

#### 6. Creditors: amounts falling due after more than one year

| 31.07.2025 |  | 31.07.2024
| £ |  | £
Other creditors | 4,030,869 |  | 1,582,316

#### 7. Related party transactions

At the balance sheet date company owed £1,800 to Goldtree Reserve Limited.