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Company No: 10136750 (England and Wales)

# COGEMAD LIMITED

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

COGEMAD LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

COGEMAD LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2025
COGEMAD LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2025

DIRECTOR | Mr T Khashoggi

REGISTERED OFFICE | Flat 19 66 Chiltern Street
| London
| W1U 4EJ
| United Kingdom

COMPANY NUMBER | 10136750 (England and Wales)

COGEMAD LIMITED

## BALANCE SHEET

As at 31 December 2025
COGEMAD LIMITED

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 4 | 3,055,506 |  | 3,055,506
|  | 3,055,506 |  | 3,055,506
Current assets |  |  |  |
Debtors | 5 | 26,184,741 |  | 26,106,909
Cash at bank and in hand |  | 15,632 |  | 49,491
|  | 26,200,373 |  | 26,156,400
Creditors: amounts falling due within one year | 6 | ( 26,650,074) |  | ( 28,114,351)
Net current liabilities |  | (449,701) |  | (1,957,951)
Total assets less current liabilities |  | 2,605,805 |  | 1,097,555
Net assets |  | 2,605,805 |  | 1,097,555
Capital and reserves |  |  |  |
Called-up share capital | 7 | 1 |  | 1
Share premium account |  | 400,000 |  | 400,000
Profit and loss account |  | 2,205,804 |  | 697,554
Total shareholders' funds |  | 2,605,805 |  | 1,097,555

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.

Director's 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 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 Cogemad Limited (registered number: 10136750) were approved and authorised for issue by the Director on 05 August 2026. They were signed on its behalf by:

Mr T Khashoggi Director |

COGEMAD LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
COGEMAD LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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 year, unless otherwise stated.

##### General information and basis of accounting

Cogemad 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 Flat 19 66 Chiltern Street, London, W1U 4EJ, 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 controlling shareholder has undertaken not to seek repayment of the loan made to the company in the 12 months from the date of signing the accounts, unless the company has resources to do so, and will continue to offer support to the company. Accordingly the financial statements are prepared on a going concern basis.

##### Group accounts exemption

Group accounts exemption s399
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

##### Tangible fixed assets

Tangible fixed assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Plant and machinery etc. | 3 years straight line

Depreciation is charged so as to write off the cost of assets over their estimated useful lives.

##### Fixed asset investments

Investments in subsidiaries are measured at cost less impairment. Where a capital contribution is made to a subsidiary, this is recorded as an addition to the cost of its investment in the subsidiary.
Dividends received are recognised in income when receivable.

##### Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.

##### Ordinary share capital

Ordinary shares are classified as equity.

##### Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including the director | 1 |  | 1

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2025 | 8,756 |  | 8,756
At 31 December 2025 | 8,756 |  | 8,756
Accumulated depreciation |  |  |
At 01 January 2025 | 8,756 |  | 8,756
At 31 December 2025 | 8,756 |  | 8,756
Net book value |  |  |
At 31 December 2025 | 0 |  | 0
At 31 December 2024 | 0 |  | 0

#### 4. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 January 2025 | 3,055,506
At 31 December 2025 | 3,055,506
Carrying value at 31 December 2025 | 3,055,506
Carrying value at 31 December 2024 | 3,055,506

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Investments in shares

Name of entity | Registered office | Principal activity | Class of shares | Ownership 31.12.2025 | Ownership 31.12.2024 | Held
SAS Cogemad | France | Development of property for sale | Ordinary Shares | 100.00% | 100.00% | Direct
Cogemad Italia SRL | Italy | Development of property for sale | Ordinary Shares | 100.00% | 100.00% | Direct

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by group undertakings (note 8) | 26,184,741 |  | 26,038,905
Other debtors | 0 |  | 68,004
| 26,184,741 |  | 26,106,909

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

| 2025 |  | 2024
| £ |  | £
Amounts owed to group undertakings (note 8) | 0 |  | 5,095,477
Amounts owed to related parties (note 8) | 26,643,041 |  | 22,694,739
Other taxation and social security | 2,809 |  | 1,832
Other creditors | 4,224 |  | 322,303
| 26,650,074 |  | 28,114,351

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
111 Ordinary shares of £ 0.01 each | 1 |  | 1

#### 8. Related party transactions

Transactions with owners holding a participating interest in the entity

| 2025 |  | 2024
| £ |  | £
Amount owed to shareholders | 26,643,041 |  | 22,694,739

During the year, shareholders loaned the company £8,081,575 (2024 - £22,701,489) and were repaid £4,133,273 (2024 - £15,750). The loans are interest free and repayable on demand.

Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions with other undertakings wholly owned within the group.