Contents of the Financial Statements

for the Period Ended 31 December 2025

Balance sheet

As at 31 December 2025

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The directors have chosen not to file a copy of the company's profit and loss account.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Tangible fixed assets depreciation policy

  Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment. Depreciation is provided on computer and office equipment at 33 1/3% per annum on a straight-line basis, with a full year's charge in the year of acquisition, so as to write each asset down to its residual value over its estimated useful life.

  Valuation information and policy

  Fixed asset investments: Investments in unlisted shares are stated at cost less any provision for impairment. A provision is made where, in the opinion of the directors, the recoverable amount of an investment is less than its carrying amount. Current asset investments: Listed investments and investment funds held for the medium term are stated at fair value, being the quoted market price at the balance sheet date, with changes in fair value recognised in the profit and loss account.

  Other accounting policies

  Basis of preparation: The financial statements have been prepared in accordance with FRS 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. They have been prepared under the historical cost convention, modified to include current asset investments at fair value. These are the company's first financial statements prepared in accordance with FRS 102; the financial statements for the year ended 31 December 2024 were prepared under FRS 105. The change of framework has not altered the reported net assets at 1 January 2025. The comparative figures have been re-analysed to the headings used in these financial statements. Going concern: The financial statements have been prepared on the going concern basis. The company's principal creditor, a director, has confirmed that he will continue to support the company and will not seek repayment of the amounts due to him until the company is able to make repayment. Financial instruments: The company has only basic financial instruments. Debtors, creditors and loans are initially recognised at transaction price and subsequently measured at amortised cost, less any provision for impairment in the case of debtors. Foreign currencies: Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the balance sheet date, and the resulting differences are recognised in the profit and loss account. Taxation: Current tax is provided at the amounts expected to be paid using the tax rates and laws enacted or substantively enacted at the balance sheet date. Deferred tax is recognised on timing differences between the treatment of items for taxation and accounting purposes, and is measured on an undiscounted basis at the rates expected to apply when the differences reverse. Deferred tax assets are recognised only to the extent that their recovery is considered more likely than not. Called up share capital: Allotted, called up and fully paid: 2,394,840 ordinary shares of £1 each (2024: 2,394,840).

Notes to the Financial Statements

for the Period Ended 31 December 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	0	0