REGISTERED NUMBER: 12835487 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 SEPTEMBER 2024 TO 31 DECEMBER 2025

FOR

QUAY FINANCIAL GROUP LTD

Page

Statement of financial position

1

Notes to the financial statements

2

to

9

FIXED ASSETS

Intangible assets

5

14,836

-

Tangible assets

6

-

36,090

Investments

7

160,817

160,816

175,653

196,906

CURRENT ASSETS

Debtors: amounts falling due within one year

8

164,868

801,122

Debtors: amounts falling due after more than one year

8

4,841,555

1,566,779

Cash at bank and in hand

187,160

82,110

5,193,583

2,450,011

CREDITORS

Amounts falling due within one year

9

(4,654,047

)

(1,365,128

)

NET CURRENT ASSETS

539,536

1,084,883

TOTAL ASSETS LESS CURRENT LIABILITIES

715,189

1,281,789

CREDITORS

Amounts falling due after more than one year

10

(516,026

)

(1,212,289

)

NET ASSETS

199,163

69,500

CAPITAL AND RESERVES

Called up share capital

150,000

150,000

Retained earnings

13

49,163

(80,500

)

SHAREHOLDERS' FUNDS

199,163

69,500

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2026 and were signed on its behalf by:

A Zuk - Director

1.	STATUTORY INFORMATION

Quay Financial Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

12835487

Registered office:

Suite 1 11th Floor

Arrive, Blue Building

Mediacityuk

Salford Quays

M50 2ST

The principal activity of the company is that of financial intermediation.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£) which is also the functional currency.

Preparation of consolidated financial statements

The financial statements contain information about Quay Financial Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are set out in the policies below:

There are no judgements included within the financial statements.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are set out below:

There are no key sources of estimation uncertainty.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Revenue is recognised at the point the right to consideration accrues through the performance of each distinct company service. The services provided are contractual and the costs of the service are incurred as the service is rendered.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated

residual value of each asset over its estimated useful life.

Computer equipment - 25% straight line

Motor vehicles - 15% reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits

The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expenses in the profit and loss account in the period in which they are incurred.

Interest receivable and interest payable

Interest receivable on financial instrument obligations and interest payable on unlisted bonds issued by the Company are recognised on an accruals basis at the effective interest rate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2024 - 4 ) .

4.	AUDITORS' REMUNERATION

Period

1.9.24

to

Year Ended

31.12.25

31.8.24

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

21,750

12,850

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

Cost

Additions

16,020

At 31 December 2025

16,020

Amortisation

Charge for period

1,184

At 31 December 2025

1,184

Net book value

At 31 December 2025

14,836

6.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 September 2024

39,094

1,673

40,767

Additions

-

11,608

11,608

Disposals

(39,094

)

(10,600

)

(49,694

)

Reclassification/transfer

-

(2,681

)

(2,681

)

At 31 December 2025

-

-

-

Depreciation

At 1 September 2024

3,909

768

4,677

Eliminated on disposal

(3,909

)

(768

)

(4,677

)

At 31 December 2025

-

-

-

Net book value

At 31 December 2025

-

-

-

At 31 August 2024

35,185

905

36,090

7.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Cost

At 1 September 2024

103,001

57,815

160,816

Additions

1

-

1

At 31 December 2025

103,002

57,815

160,817

Net book value

At 31 December 2025

103,002

57,815

160,817

At 31 August 2024

103,001

57,815

160,816

8.

DEBTORS

31.12.25

31.8.24

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

-

13,026

Loans

110,041

702,453

Other debtors

5,000

9,600

Deferred tax asset

-

11,903

Prepayments

49,827

64,140

164,868

801,122

Amounts falling due after more than one year:

Amounts owed by group undertakings

4,097,901

-

Loans

743,654

1,495,513

Prepayments and accrued income

-

71,266

4,841,555

1,566,779

Aggregate amounts

5,006,423

2,367,901

Amounts owed by group undertakings are unsecured, interest free and are repayable on demand.

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.8.24

£

£

Hire purchase contracts (see note 11)

-

3,295

Trade creditors

32,021

17,408

Amounts owed to group undertakings

2,927,175

1,166,954

Tax

205,309

-

Social security and other taxes

7,996

-

Other creditors

199

46,501

Other borrowings

132,502

102,857

Directors' loan accounts

-

12,693

Accruals and deferred income

175,590

15,420

Unlisted bonds

1,173,255

-

4,654,047

1,365,128

Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.

Other borrowings totalling £132,502 represents four loans.

A private loan amounting to £25,000 bears weekly interest at a rate of 1% and is repayable in full by December 2026.

A private loan amounting to £100,000 bears monthly interest at a rate of 36% and is repayable over 36 months by August 2028.

A private loan amounting to £290,000 is split into three legs and bears interest at the following rates - 3% above base rate annually repayable by April 2026, 12% compounding repayable by January 2027, and 4% above base rate quarterly repayable by April 2026.

A loan amounting to £233,650 which has two facilities. The first facility has interest and capital repayments on the 10th, 20th and 30th of each month in the following amounts - £3,509.72, £4,345.54, and £3,509.72, respectively. The interest on this facility reduces by 20% (and therefore capital repayment amount increases by the same value) and at each 20% repayment of capital point throughout the life of the loan until repaid in full. The second facility has interest and capital repayments of £1,500 per week. The interest on this facility reduces by £200 per week (and therefore the capital repayment amount increases by the same value) at each 25% repayment of capital point throughout the life of the loan until repaid in full.

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.8.24

£

£

Hire purchase contracts (see note 11)

-

30,782

Unlisted bonds

-

1,155,986

Other borrowings

516,026

25,521

516,026

1,212,289

Other borrowings totalling £516,026 represents three loans.

A private loan amounting to £100,000 bears monthly interest at a rate of 36% and is repayable over 36 months by August 2028.

A private loan amounting to £290,000 is split into three legs and bears interest at the following rates - 3% above base rate annually repayable by April 2026, 12% compounding repayable by January 2027, and 4% above base rate quarterly repayable by April 2026.

A loan amounting to £233,650 which has two facilities. The first facility has interest and capital repayments on the 10th, 20th and 30th of each month in the following amounts - £3,509.72, £4,345.54, and £3,509.72, respectively. The interest on this facility reduces by 20% (and therefore capital repayment amount increases by the same value) and at each 20% repayment of capital point throughout the life of the loan until repaid in full. The second facility has interest and capital repayments of £1,500 per week. The interest on this facility reduces by £200 per week (and therefore the capital repayment amount increases by the same value) at each 25% repayment of capital point throughout the life of the loan until repaid in full.

11.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.25

31.8.24

£

£

Net obligations repayable:

Within one year

-

3,295

Between one and five years

-

30,782

-

34,077

Non-cancellable

operating leases

31.12.25

31.8.24

£

£

Within one year

-

576

12.	DEFERRED TAX

£

Balance at 1 September 2024

(11,903

)

Provided during period

11,574

Charge to Statement of income and retained earnings during period

329

Balance at 31 December 2025

-

13.

RESERVES

Retained

earnings

£

At 1 September 2024

(80,500

)

Profit for the period

189,663

Dividends

(60,000

)

At 31 December 2025

49,163

14.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Helen Tidyman (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

15.	RELATED PARTY TRANSACTIONS

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1 A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the period ended 31 December 2025, advances of £93,769 (year ended 31 August 2024: £457,950) were made by a director. Repayments of £81,076 (year ended 31 August 2024: £441,492) were made during the year by the director and the maximum overdrawn amount outstanding by the director was £15,739 (31.08.2024: £157,154) which was fully repaid in the period.

During the year the company undertook transactions with connected companies controlled by Mr A Zuk. Amounts amounts advanced to related party during the year £310,954, amounts impaired at 31 December 2025 £310,954.

All other transactions with connected companies are under normal market conditions.

16.	POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statement by the board.

17.	ULTIMATE CONTROLLING PARTY

The company is a 100% owned subsidiary of Quay Financial Holdings Limited. The ultimate controlling party is Alexander Zuk.