REGISTERED NUMBER: 16364967 (England and Wales)

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 4 APRIL 2025 TO 31 DECEMBER 2025

FOR

QUAY FINANCIAL HOLDINGS LIMITED

Page

Company Information

1

Report of the Directors

2

to

3

Report of the Independent Auditors

4

to

8

Consolidated Statement of Income and Retained Earnings

9

Consolidated Statement of Financial Position

10

Company Statement of Financial Position

11

Notes to the Consolidated Financial Statements

12

to

22

DIRECTORS:

A Zuk

L Farghaly

P Henderson

REGISTERED OFFICE:

Blue Tower Blue

Media City Uk

Salford

M50 2ST

REGISTERED NUMBER:

16364967 (England and Wales)

SENIOR STATUTORY AUDITOR:

Helen Tidyman

AUDITORS:

Sumer Auditco Limited

Chartered Accountants & Statutory Auditors

Stone House

Stone Road Business Park

Stoke-on-Trent

ST4 6SR

The directors present their report with the financial statements of the company and the group for the period 4 April 2025 to 31 December 2025.

INCORPORATION

The group was incorporated on 4 April 2025 .

EVENTS SINCE THE END OF THE PERIOD

Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTORS

The directors who have held office during the period from 4 April 2025 to the date of this report are as follows:

A Zuk - appointed 4 April 2025

L Farghaly - appointed 7 July 2025

P Henderson was appointed as a director after 31 December 2025 but prior to the date of this report.

All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

A Zuk - Director

14 August 2026

Opinion

We have audited the financial statements of Quay Financial Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 December 2025 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Statement of Financial Position, Company Statement of Financial Position and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2025 and of the group's profit for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit

evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

•

the nature of the industry and sector, control environment and business performance including the design of the group remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

•

results of our enquiries of management about their own identification and assessment of the risks of irregularities;

•

any matters we identified having obtained and reviewed the group documentation of their policies and procedures relating to:

-

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

-

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

-

the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

•

the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

Based on this approach, we were able to assess the group risks and ensure the risks were considered throughout all areas of audit testing. The audit team was professionally sceptical throughout the audit and remained alert for inaccurate or misleading information.

Audit response to risks identified

As a result of performing the above, we identified management override as a key audit matter related to the potential risk of fraud or irregularities. Our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• enquiring of management concerning actual and potential litigation and claims;

• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

• obtaining an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Audit testing was completed on a targeted sample basis based on our assessment of risk and materiality. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

-

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

-	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control.

-	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

-

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern.

-	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

-	Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express and opinion on the consolidated financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Helen Tidyman (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Chartered Accountants & Statutory Auditors

Stone House

Stone Road Business Park

Stoke-on-Trent

ST4 6SR

17 August 2026

TURNOVER

6,801,654

Cost of sales

(2,619,739

)

GROSS PROFIT

4,181,915

Administrative expenses

(3,122,960

)

1,058,955

Other operating income

40,546

OPERATING PROFIT

4

1,099,501

Interest receivable and similar income

28

1,099,529

Interest payable and similar expenses

(135,023

)

PROFIT BEFORE TAXATION

964,506

Tax on profit

6

(347,779

)

PROFIT FOR THE FINANCIAL PERIOD

616,727

Retained earnings at beginning of period

(164,435

)

Dividends

(120,000

)

RETAINED EARNINGS FOR THE GROUP AT END OF PERIOD

332,292

Profit attributable to:

Owners of the parent

616,727

FIXED ASSETS

Intangible assets

8

14,836

Tangible assets

9

264,499

Investments

10

57,815

337,150

CURRENT ASSETS

Debtors

11

6,760,215

Cash at bank and in hand

297,101

7,057,316

CREDITORS

Amounts falling due within one year

12

(2,116,069

)

NET CURRENT ASSETS

4,941,247

TOTAL ASSETS LESS CURRENT LIABILITIES

5,278,397

CREDITORS

Amounts falling due after more than one year

13

(4,796,105

)

NET ASSETS

482,292

CAPITAL AND RESERVES

Called up share capital

150,000

Retained earnings

332,292

482,292

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

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

FIXED ASSETS

Intangible assets

8

-

Tangible assets

9

-

Investments

10

150,100

150,100

CURRENT ASSETS

Debtors

11

4,931,294

Cash at bank

548

4,931,842

CREDITORS

Amounts falling due within one year

12

(4,917,147

)

NET CURRENT ASSETS

14,695

TOTAL ASSETS LESS CURRENT LIABILITIES

164,795

CAPITAL AND RESERVES

Called up share capital

150,000

Retained earnings

14,795

164,795

Company's profit for the financial year

134,795

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

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 Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The principal activity of the company is that of a financial services holding company.

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.

BASIS OF CONSOLIDATION

The consolidated financial statements incorporate those of Quay Financial Holdings Limited and its subsidiary undertakings for the year. Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes. The difference between the cost of acquisition of shares in subsidiaries and the fair value of the identifiable net assets acquired is capitalised as purchased goodwill and amortised through the profit and loss account over its estimated economic life. Provision is made for any impairment. The financial statements are made up to 31 December 2025.

All companies have co-terminus year ends. All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

As permitted by Section 408 of the Companies Act 2006, the company has not presented its own profit and loss account. The company's profit and total comprehensive income are presented in the company Statement of Financial Position.

Consolidated accounts are not a statutory requirement for the period. Prior year comparatives for the consolidated accounts have not been presented within the accounts. This is the first year of the Quay Financial Holdings Limited group being incorporated and no prior year consolidated accounts have been presented for the new group or previous group.

In order to show a true and fair view the consolidated financial statements comprise the results for the period from 1st September 2024 to 31 December 2025 for the group headed by Quay Financial Group Limited.

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.

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.

Negative goodwill arising on consolidation is written off to amortisation in the profit and loss, in the year of acquisition.

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

Fixtures and fittings - 25% straight line

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 Consolidated 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

EMPLOYEE BENEFITS

The group 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 group 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 .

4.	OPERATING PROFIT

The operating profit is stated after charging:

£

Depreciation - owned assets

51,720

Development costs amortisation

1,184

5.	AUDITORS' REMUNERATION

£

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

21,750

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the period was as follows:

£

Current tax:

UK corporation tax

325,135

Deferred tax

22,644

Tax on profit

347,779

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS

The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

£

Profit before tax

964,506

Profit multiplied by the standard rate of corporation tax in the UK of 25 %

241,127

Effects of:

Expenses not deductible for tax purposes

147,594

Income not taxable for tax purposes

(13,068

)

Depreciation in excess of capital allowances

7,677

Utilisation of tax losses

(17,205

)

Marginal relief

(407

)

Deferred Tax

(1,318

)

Timing differences

(16,621

)

Total tax charge

347,779

7.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

8.	INTANGIBLE FIXED ASSETS

Group

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

9.	TANGIBLE FIXED ASSETS

Group

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

Additions

-

278,963

11,608

290,571

Disposals

-

(39,094

)

(10,600

)

(49,694

)

Reclassification/transfer

7,326

87,594

(1,008

)

93,912

At 31 December 2025

7,326

327,463

-

334,789

DEPRECIATION

Charge for period

2,600

49,120

-

51,720

Eliminated on disposal

-

(3,909

)

(768

)

(4,677

)

Reclassification/transfer

1,679

20,800

768

23,247

At 31 December 2025

4,279

66,011

-

70,290

NET BOOK VALUE

At 31 December 2025

3,047

261,452

-

264,499

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:

Motor vehicles £261,452.

10.	FIXED ASSET INVESTMENTS

Group

Other

investments

£

COST

At 4 April 2025

and 31 December 2025

57,815

NET BOOK VALUE

At 31 December 2025

57,815

At 3 April 2025

57,815

Company

Shares in

group

undertaking

£

COST

Additions

150,100

At 31 December 2025

150,100

NET BOOK VALUE

At 31 December 2025

150,100

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Quay Financial Limited (*Indirect)

Registered office: Blue Tower, Mediacityuk, Salford Quays, England, M50 2ST

Nature of business: Financial intermediation

%

Class of shares:

holding

Ordinary

100.00

Quay Financial Commercial Limited (*Indirect)

Registered office: Blue Tower, Mediacityuk, Salford Quays, England, M50 2ST

Nature of business: Other credit granting and lead generation

%

Class of shares:

holding

Ordinary

100.00

Quay Machine Rentals Limited (*Indirect)

Registered office: Blue Tower, Mediacityuk, Salford Quays, England, M50 2ST

Nature of business: Financial intermediation

%

Class of shares:

holding

Ordinary

100.00

Quay Financial Administration Limited

Registered office: Blue Tower, Mediacityuk, Salford Quays, England, M50 2ST

Nature of business: Financial intermediation

%

Class of shares:

holding

Ordinary

100.00

Quay Financial Group Limited

Registered office: Blue Tower, Mediacityuk, Salford Quays, England, M50 2ST

Nature of business: Financial intermediation

%

Class of shares:

holding

Ordinary

100.00

11.

DEBTORS

Group

Company

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

-

4,931,294

Loans

261,056

-

Other debtors

5,000

-

Deferred tax asset

5,612

-

Prepayments and accrued income

222,161

-

493,829

4,931,294

Amounts falling due after more than one

year:

Loans

5,686,024

-

Prepayments and accrued income

580,362

-

6,266,386

-

Aggregate amounts

6,760,215

4,931,294

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

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

£

£

Bank loans and overdrafts

20,070

-

Hire purchase contracts (see note 14)

30,488

-

Trade creditors

158,515

119

Amounts owed to group undertakings

-

4,891,336

Tax

325,135

11,598

Social security and other taxes

7,996

-

Other creditors

25,342

-

Other borrowings

184,584

-

Directors' loan accounts

15,094

14,094

Accruals and deferred income

175,590

-

Unlisted bonds

1,173,255

-

2,116,069

4,917,147

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.

There is a further £52,082 of unsecured loans falling due < 1 year.