REGISTERED NUMBER: 13615527 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 SEPTEMBER 2024 TO 31 DECEMBER 2025

FOR

QUAY FINANCIAL LTD

Page

Statement of financial position

1

Notes to the financial statements

2

to

5

CURRENT ASSETS

Debtors

4

3,681,964

1,627,684

Cash at bank

650

1,377

3,682,614

1,629,061

CREDITORS

Amounts falling due within one year

5

(14,368

)

(15,841

)

NET CURRENT ASSETS

3,668,246

1,613,220

TOTAL ASSETS LESS CURRENT LIABILITIES

3,668,246

1,613,220

CREDITORS

Amounts falling due after more than one year

6

(3,522,099

)

(1,581,222

)

NET ASSETS

146,147

31,998

CAPITAL AND RESERVES

Called up share capital

103,000

103,000

Retained earnings

9

43,147

(71,002

)

SHAREHOLDERS' FUNDS

146,147

31,998

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 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:

13615527

Registered office:

Blue Tower

Mediacityuk

Salford Quays

Greater Manchester

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.

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

Quay Financial Ltd continues to attract strong new streams of inbound investment, particularly from Japan and interests in Malaysia.

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.

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.

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 2 (2024 - 1 ) .

4.

DEBTORS

31.12.25

31.8.24

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

2,929,328

1,166,954

Deferred tax asset

-

23,633

Prepayments and accrued income

172,274

95,725

3,101,602

1,286,312

Amounts falling due after more than one year:

Prepayments and accrued income

580,362

341,372

Aggregate amounts

3,681,964

1,627,684

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

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.8.24

£

£

Trade creditors

119

10,036

Amounts owed to group undertakings

-

359

Tax

14,249

-

Directors' loan accounts

-

5,446

14,368

15,841

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

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.8.24

£

£

Other creditors

3,522,099

1,581,222

7.	SECURED DEBTS

There is a fixed and floating charge dated 28 October 2021 over the property or undertaking of the company in favour of Legaleze Limited.

8.	DEFERRED TAX

£

Balance at 1 September 2024

(23,633

)

Utilised during period

23,633

Balance at 31 December 2025

-

9.

RESERVES

Retained earnings - this reserve records retained earnings and accumulated losses

10.	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

11.	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 year the company undertook transactions with directors as follows, amounts owed to directors at 1 September 2024 £5,446, amounts repaid in the period £5,446, amounts owed to directors at 31 December 2025 £nil.

12.	POST BALANCE SHEET EVENTS

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

13.	ULTIMATE CONTROLLING PARTY

The company is a 100% owned subsidiary of Quay Financial Group Limited. The ultimate parent undertaking is Quay Financial Holdings Limited and the ultimate controlling party is Alexander Zuk.