REGISTERED NUMBER: 09866889 (England and Wales)

Audited financial statements for the year ended 31st December 2025

For

Plutus (Connaught Square) Ltd

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

DIRECTORS:

Abdulla Mohammad Khalifa S Bin Habtoor

Shahnwaz Haider Ashraf Nawabi

REGISTERED OFFICE:

The Maltings

2 Anderson Road

Bearwood

Birmingham

West Midlands

B66 4AR

REGISTERED NUMBER:

09866889 (England and Wales)

AUDITORS:

Ark&Co Ltd - Statutory Auditors

The Maltings

2 Anderson Rd

Bearwood

Birmingham

West Midlands

B66 4AR

CURRENT ASSETS

Stocks

5

12,144,894

11,384,587

Debtors

6

119,825

31,404

Cash at bank

22,114

22,170

12,286,833

11,438,161

CREDITORS

Amounts falling due within one year

7

1,011,397

119,817

NET CURRENT ASSETS

11,275,436

11,318,344

TOTAL ASSETS LESS CURRENT LIABILITIES

11,275,436

11,318,344

CREDITORS

Amounts falling due after more than one year

8

11,353,204

11,353,203

NET LIABILITIES

(77,768

)

(34,859

)

CAPITAL AND RESERVES

Called up share capital

10

1,100

1,100

Retained earnings

11

(78,868

)

(35,959

)

SHAREHOLDERS' FUNDS

(77,768

)

(34,859

)

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st September 2026 and were signed on its behalf by:

Abdulla Mohammad Khalifa S Bin Habtoor - Director

1.	STATUTORY INFORMATION

Plutus (Connaught Square) Ltd 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 Company Information page.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	AUDITORS' REMUNERATION

31/12/25

31/12/24

£

£

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

7,353

7,350

During the year there were £6,350 (2024: £6,300) services provided with respect to non-audit fees.

5.

STOCKS

Stock is valued at the lower of cost and net realisable value being the selling price less expected costs to complete the project. Accordingly, the value is based on costs incurred to date by the company for the project including overheads directly attributable to the project and are carried forward as stock until the development has been completed and sold.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

VAT

115,122

26,701

Deferred tax asset

4,703

4,703

119,825

31,404

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Trade creditors

2,930

2,930

Other creditors

996,180

77,517

Accrued expenses

12,287

39,370

1,011,397

119,817

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/25

31/12/24

£

£

Other creditors

11,353,204

11,353,203

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/25

31/12/24

£

£

Other loans

11,353,204

11,353,204

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/25

31/12/24

value:

£

£

100

Ordinary A Shares

£1

100

100

1,000

Ordinary B Shares

£1

1,000

1,000

1,100

1,100

Each Ordinary A share carries one hundred voting rights and Each Ordinary B share carries one thousand voting rights. All the shares are held by holding company Plutus Capital Ltd.

11.

RESERVES

Retained

earnings

£

At 1st January 2025

(35,959

)

Deficit for the year

(42,909

)

At 31st December 2025

(78,868

)

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Gurnek Ark BCom FCA (Senior Statutory Auditor)

for and on behalf of Ark&Co Ltd - Statutory Auditors

13.	GOING CONCERN

The company has net liabilities of £79,811 at the balance sheet date (2024: £34,859) and generated a loss for the year of £44,952 (2024: £16,880). The company has no operating revenue and its ability to continue as a going concern is dependent on the continued financial support of its parent company Plutus Capital Limited and fellow Shamal group undertakings. The directors have obtained a formal Letter of Financial Support from Shamal International Group Limited confirming continued financial support for a period of not less than 12 months from the date of approval of these financial statements. On this basis, the directors have prepared the financial statements on the going concern basis and do not consider that any material uncertainties related to going concern exist.

14.	RELATED PARTY DISCLOSURES

Loan amount of £11,353,204 (2024: £11,353,204) is outstanding to Plutus Capital Ltd (registered in the British Virgin Islands) which holds the majority voting shares in the company.

Balance due to related company Shamal LLC at the year-end amounted to £77,025 (2024: £77,025)

Balance due to related company Shamal International Group Ltd £846,417 (2024: £NIL)

Balance due to related company Shamal One Limited £72,246 (2024: £NIL)

15.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

16.	ULTIMATE CONTROLLING PARTY

The controlling party is Plutus Capital Ltd whose registered office is at Morgan & Morgan Building, Pasea Estate, PO Box 958, Road Town, Tortola, British Virgin Islands.