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Company No: 12147948 (England and Wales)

# JELUKA UK LIMITED

### Financial Statements
For the financial year ended 30 September 2025
Pages for filing with the registrar

JELUKA UK LIMITED

## Financial Statements

For the financial year ended 30 September 2025

Contents

JELUKA UK LIMITED

## COMPANY INFORMATION

For the financial year ended 30 September 2025
JELUKA UK LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 30 September 2025

DIRECTOR | Mr M J Nunn

REGISTERED OFFICE | 2 Leman Street
| London
| E1W 9US
| United Kingdom

COMPANY NUMBER | 12147948 (England and Wales)

AUDITOR | Gravita Audit II Limited
| Statutory Auditor
| Aldgate Tower
| 2 Leman Street
| London
| E1 8FA
| United Kingdom

JELUKA UK LIMITED

## BALANCE SHEET

As at 30 September 2025
JELUKA UK LIMITED

## BALANCE SHEET (continued)

As at 30 September 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 3 | 298,976 |  | 320,000
|  | 298,976 |  | 320,000
Current assets |  |  |  |
Debtors | 4 | 1,580 |  | 1,173
Cash at bank and in hand |  | 3,886 |  | 15,879
|  | 5,466 |  | 17,052
Creditors: amounts falling due within one year | 5 | ( 311,667) |  | ( 327,003)
Net current liabilities |  | (306,201) |  | (309,951)
Total assets less current liabilities |  | (7,225) |  | 10,049
Net (liabilities)/assets |  | ( 7,225) |  | 10,049
Capital and reserves |  |  |  |
Called-up share capital |  | 1 |  | 1
Profit and loss account |  | ( 7,226 ) |  | 10,048
Total shareholder's (deficit)/funds |  | ( 7,225) |  | 10,049

The 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 Jeluka UK Limited (registered number: 12147948) were approved and authorised for issue by the Director on 06 August 2026. They were signed on its behalf by:

Mr M J Nunn Director |

JELUKA UK LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2025
JELUKA UK LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Jeluka UK 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 2 Leman Street, London, E1W 9US, 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 financial statements have been prepared on a going concern basis. As at 30 September 2025, the company had net liabilities of £7,225 and its current liabilities exceed its current assets £306,201. The company is dependent on the continued financial support of its parent undertaking, Jeluka Capital Partners Limited, to enable it to meet its liabilities as they fall due. The parent undertaking has confirmed that it intends to continue providing financial support to the company for the foreseeable future.
After considering the financial position of the company and the continued support available from its parent undertaking, the directors believe that the company will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

##### 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### 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.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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.

##### Fixed asset investments

The investments are unlisted thus not publicly traded. They are measured at cost. The fair value of the investments can not be measured reliably due to the absence of observable market data. No impairment indicators were identified during the year.

##### 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.

##### 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

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

#### 3. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 October 2024 | 320,000 |  | 320,000
Additions | 28,971 |  | 28,971
Disposals | ( 49,995) |  | ( 49,995)
At 30 September 2025 | 298,976 |  | 298,976
Carrying value at 30 September 2025 | 298,976 |  | 298,976
Carrying value at 30 September 2024 | 320,000 |  | 320,000

The company's fixed asset investments comprise unlisted investments in the limited partnerships held for long-term investment purposes. These investments are measured at cost less impairment in accordance with FRS 102. At the reporting date, there were no indicators of impairment and, accordingly, no impairment provision has been recognised. The investments continue to be carried at cost less impairment. The investments comprise interests in a number of unlisted limited partnerships.

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Corporation tax | 1,580 |  | 1,173

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

| 2025 |  | 2024
| £ |  | £
Amounts owed to Parent undertakings | 287,150 |  | 272,884
Amounts owed to director | 0 |  | 41,602
Accruals | 15,540 |  | 3,540
Other creditors | 8,977 |  | 8,977
| 311,667 |  | 327,003

#### 6. Related party transactions

At the reporting period date, the company owed £Nil (2024: £41,603) to the director of the company. The loan is interest-free and repayable on demand.
At the reporting period date, the company owed £287,150 (2024: £272,884) to the parent undertaking, Jeluka Capital Partners Limited. The loan is interest-free and repayable on demand.

#### 7. Audit Opinion

The auditor's report on the accounts for the financial year ended 30 September 2025 was unqualified.

The audit report was signed by Paul Woosey on behalf of Gravita Audit II Limited.

#### 8. Ultimate controlling party

Parent Company:

Jeluka Capital Partners Limited

The company's immediate and ultimate parent undertaking is Jeluka Capital Partners Limited, a company incorporated in Cyprus