Funding52 Limited 13619822 false 2025-01-01 2025-12-31 2025-12-31 The principal activity of the company is that of open-ended investment companies Digita Accounts Production Advanced 6.30.9574.0 true true true 13619822 2025-01-01 2025-12-31 13619822 2025-12-31 13619822 core:RetainedEarningsAccumulatedLosses 2025-12-31 13619822 core:ShareCapital 2025-12-31 13619822 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 13619822 core:Non-currentFinancialInstruments core:AfterOneYear 2025-12-31 13619822 bus:SmallEntities 2025-01-01 2025-12-31 13619822 bus:Audited 2025-01-01 2025-12-31 13619822 bus:FullAccounts 2025-01-01 2025-12-31 13619822 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 13619822 bus:RegisteredOffice 2025-01-01 2025-12-31 13619822 bus:Director2 2025-01-01 2025-12-31 13619822 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 13619822 core:OtherRelatedParties 2025-01-01 2025-12-31 13619822 1 2025-01-01 2025-12-31 13619822 countries:England 2025-01-01 2025-12-31 13619822 2024-01-01 2024-12-31 13619822 2024-12-31 13619822 core:RetainedEarningsAccumulatedLosses 2024-12-31 13619822 core:ShareCapital 2024-12-31 13619822 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 13619822 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 iso4217:GBP xbrli:pure

Company registration number: 13619822

Funding52 Limited
Filleted Annual Report and Financial Statements
for the Year Ended 31 December 2025

Funding52 Limited

Contents

Balance Sheet | 1
Notes to the Financial Statements | 2 to 5

Funding52 Limited

(Registration number: 13619822)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Debtors | 4 | 91,000 | 53,231
Cash at bank and in hand |  | 132,185 | 114,793
|  | 223,185 | 168,024
Creditors: Amounts falling due within one year | 5 | (20,400) | (11,000)
Total assets less current liabilities |  | 202,785 | 157,024
Creditors: Amounts falling due after more than one year | 5 | (28,362,505) | (26,912,659)
Net liabilities |  | (28,159,720) | (26,755,635)
Capital and reserves |  |  |
Called up share capital |  | 10 | 10
Profit and loss account |  | (28,159,730) | (26,755,645)
Total equity |  | (28,159,720) | (26,755,635)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 August 2026 .

G E Kennedy Director |  |

Funding52 Limited

Notes to the Financial Statements
for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Albert Goodman LLP
Lupin Way
Yeovil
Somerset
BA22 8WW

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

These financial statements are presented in Sterling (£).

Going concern

The company has net liabilities of £28,159,720 (2024: £26,755,635). The director considers the operations of the company to be ongoing, with a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. This is based on the assumption that the overseas funders will continue to provide support as required for at least the next 12 months from the date of signing the financial statements and will not request payment of the outstanding loan principal and accrued interest thereon until such time that the company is financially able to afford it. The funds have provided written representations to this effect.
Accordingly, these financial statements have been prepared on a going concern basis.

Turnover

The company has an agreement in place with Cheval Legal Limited for the settlement of a portfolio of Plevin insurance claims. Settlements are recognised in turnover when payment is received by Cheval from a defendant following a successful outcome. The settlements received will repay the loan balance payable to the funds. The settlement of the claim portfolio is of uncertain timing and amount and therefore no asset has been recognised on the balance sheet in relation to this.

Funding52 Limited

Notes to the Financial Statements
for the Year Ended 31 December 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Other debtors are recognised at cost. They are subsequently measured at cost, less provision for impairment.
A provision for the impairment of trade and other debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2024 - 1).

4 | Debtors

Current | 2025 £ | 2024 £
Other debtors | 91,000 | 53,231
| 91,000 | 53,231

Funding52 Limited

Notes to the Financial Statements
for the Year Ended 31 December 2025

5 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Accruals and deferred income | 20,400 | 11,000

Creditors: amounts falling due after more than one year

| 2025 £ | 2024 £
Due after one year |  |
Other creditors | 18,607,864 | 19,790,865
Interest payable | 9,754,641 | 7,121,794
| 28,362,505 | 26,912,659

6 | Related party transactions

Summary of transactions with other related parties

In the year the company had the following related party transactions:
Loans due to:
Solid Income II Limited £13,168,316 (2024: £12,687,015).
Swiss Alp Factoring AG £3,674,329 (2024: £3,096,757).
MT1 Ltd £11,519,860 (2024: £11,128,887).
Included in the above is interest accruing on the loans at a rate between 6%-14%.
Legal and professional fees of £2,973, accounting fees of £33,194, and director remuneration of £9,098 were recharged to the funds in the year.

7 | Parent and ultimate parent undertaking

The company's immediate parent is Swiss ALP Asset Management GmbH, incorporated in Liechtenstein.

Funding52 Limited

Notes to the Financial Statements
for the Year Ended 31 December 2025

8 | Off-balance sheet arrangements

The company holds an arrangement with a law firm, Cheval Legal Ltd, which gives the company the right to receive income from a tranche of Plevin cases as they are settled through the courts. The director estimates that this arrangement will generate net cash inflows of appoximately £4 million, over the next 4 years. This estimate is based on information provided by Cheval Legal Ltd. Income is wholly used to repay the loans and interest from the funds set out in Note 6.

9 | Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 13 August 2026 was Neil Johnston, who signed for and on behalf of Albert Goodman LLP.