MAGNOLIA (123) LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC311813

		2025		2024
	Notes	$	$	$	$
FIXED ASSETS
Investments	4		8,408,210		8,330,630

			8,408,210		8,330,630
CURRENT ASSETS
Debtors	5	21,320,013		21,591,013
Investments	6	249,559		7,610
Cash at bank and in hand		2,135		77,209

		21,571,707		21,675,832
Creditors: Amounts Falling Due Within One Year	7	(1,750 )		(2,274 )

NET CURRENT ASSETS (LIABILITIES)			21,569,957		21,673,558

TOTAL ASSETS LESS CURRENT LIABILITIES			29,978,167		30,004,188

NET ASSETS ATTRIBUTABLE TO MEMBERS			29,978,167		30,004,188

REPRESENTED BY:
Equity
Members' other interests
Members' capital		27,284,219		27,284,219
Other reserves		2,693,948		2,719,969

			29,978,167		30,004,188

TOTAL MEMBERS' INTEREST
Members' other interests			29,978,167		30,004,188

			29,978,167		30,004,188

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MAGNOLIA (123) LLP

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Gastão Augusto Souto De Bueno Vidigal

Designated Member

10/07/2026

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

MAGNOLIA (123) LLP is a limited liability partnership, incorporated in England & Wales, registered number OC311813 . The Registered Office is 85 Great Portland Street, First Floor, London, W1W 7LT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in US dollars which is the functional currency of the LLP.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)

4. Investments

	Unlisted
	$
Cost or Valuation
As at 1 January 2025	8,330,630
Additions	77,580

As at 31 December 2025	8,408,210

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	8,408,210

As at 1 January 2025	8,330,630

The LLP holds the share capital of the following company:

Name: BIRDS EYES INC.

Place of incorporation: Cayman

Proportion of ownership interest and voting power held %: 100%

In these separate financial statements, investments in subsidiaries are carried at cost less any accumulated impairment losses.

Dividends received from subsidiaries are recognised in the profit or loss of the Company.

5. Debtors

	2025	2024
	$	$
Due after more than one year
Other debtors	21,320,013	21,491,013
Amounts owed by subsidiaries	-	100,000

	21,320,013	21,591,013

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MAGNOLIA (123) LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Current Asset Investments

	2025	2024
	$	$
Unlisted investments	249,559	7,610

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	$	$
Trade creditors	1,750	1,750
Amounts owed to related parties	-	524

	1,750	2,274

8. Related Party Transactions

Investments in Subsidiaries

At the balance sheet date, the LLP held investments in subsidiary undertakings amounting to USD 8,408,210 (2024: USD 8,330,630 ). This subsidiary is related party by virtue of being under the control of the LLP.

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