Company No: OC369262 (England and Wales)

Contents

• Statement of Financial Position
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investments	3	4,909,080		3,583,643
		4,909,080		3,583,643
Current assets
Debtors	4	41,431,828		25,015,698
Cash at bank and in hand		1,171,077		1,228,848
		42,602,905		26,244,546
Creditors: amounts falling due within one year	5	( 27,427,332)		( 13,836,409)
Net current assets		15,175,573		12,408,137
Total assets less current liabilities		20,084,653		15,991,780
Net assets attributable to members		20,084,653		15,991,780
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability	6	10		10
Other amounts		20,118,224		15,991,770
		20,118,234		15,991,780
Members' other interests
Other reserves		(33,581)		0
		(33,581)		0
		20,084,653		15,991,780
Total members' interests
Amounts due from members (included in debtors)		(139,195)		(4,995)
Loans and other debts due to members		20,118,234		15,991,780
Members' other interests		(33,581)		0
		19,945,458		15,986,785

Fusion Global Investments LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

For the financial year ending 31 August 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.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Fusion Global Investments LLP (registered number: OC369262) were approved and authorised for issue by the members. They were signed on its behalf by:

A Cohen on behalf of Hayden Investment Limited

27 August 2026

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

Fusion Global Investments LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The principal activity of the LLP during the financial year was that of property investment through its investment in subsidiary companies and LLPs.

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 Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the LLP and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	0		0

3. Fixed asset investments

	2025		2024
	£		£
Subsidiary undertakings	102		112
Participating interests	4,908,978		3,583,531
	4,909,080		3,583,643

Investments in subsidiaries

	2025
	£
Cost
At 01 September 2024	112
Disposals	( 10)
At 31 August 2025	102
Carrying value at 31 August 2025	102
Carrying value at 31 August 2024	112

	Investments in associates		Total
	£		£
Cost or valuation before impairment
At 01 September 2024	3,583,531		3,583,531
Additions	1,325,447		1,325,447
At 31 August 2025	4,908,978		4,908,978
Carrying value at 31 August 2025	4,908,978		4,908,978
Carrying value at 31 August 2024	3,583,531		3,583,531

4. Debtors

	2025		2024
	£		£
Amounts owed by Group undertakings	38,302,083		23,550,020
Amounts owed by members	139,195		4,995
Other debtors	2,990,550		1,460,683
	41,431,828		25,015,698

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		3,600
Amounts owed to Group undertakings	10,872,479		13,427,025
Accruals	164,500		174,556
Other creditors	16,390,353		231,228
	27,427,332		13,836,409

6. Loans and other debts due to members

	2025		2024
	£		£
Members' capital treated as debt	(10)		(10)
Other amounts due to members	(20,118,224)		(15,991,770)
	(20,118,234)		(15,991,780)

Loans and other debts due to members may be further analysed as follows:

	2025		2024
	£		£
Falling due within one year	(20,118,224)		(15,991,770)

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

7. Secured debts

There is a fixed charge in a group entity covering all of the property and undertaking of that entity as well as a charge over the assets of the group. The outstanding charge includes a negative pledge.