Company No: 11899434 (England and Wales)

Contents

• Company Information
• Strategic Report
• Balance Sheet
• Statement of Cash Flows
• Notes to the Financial Statements

DIRECTORS	Juan Ball (Resigned 01 December 2025)
	Benjamin Jeffrey Churchill
	Oumar Diallo
	Maximilian Alexander Gottschalk
	Federico Hermida (Resigned 01 December 2025)
	Edward Lawson Johnston
	Harry Alexander Lawson Johnston (Resigned 09 September 2024)
	Soroosh Shambayati (Resigned 23 July 2025)
	Chris Winn (Appointed 01 January 2026)

REGISTERED OFFICE	3rd Floor 58 Davies Street
	London
	W1K 5JF
	United Kingdom

COMPANY NUMBER

11899434 (England and Wales)

AUDITOR	Dixon Wilson Audit Services LLP
	Statutory Auditor
	22 Chancery Lane
	London
	WC2A 1LS

The directors present their Strategic Report for the financial period ended 18 December 2025.

REVIEW OF THE BUSINESS

The company provides advice and management in relation to structured credit investments. The company has been authorised and regulated by the Financial Conduct Authority since 19 June 2024.

RESULTS AND PERFORMANCE

The period covered by these financial statements is 18 months long, and the comparative figures cover just under 6 months. The company’s costs continue to outweigh its turnover, with the company making a loss of £1,818k (2024 - £521k). The directors expect the company's financial performance to improve in 2026 as the business continues to develop its client base and project pipeline.

PRINCIPAL RISKS AND UNCERTAINTIES

The company faces macro-economic risks, particularly those affecting the credit and structured finance markets, which could impact the pace of new business development and the performance of existing mandates. The company mitigates these risks through portfolio diversification across multiple projects and by structuring investments to perform across market conditions.

STATEMENT OF COMPLIANCE WITH DUTY TO PROMOTE THE SUCCESS OF THE COMPANY

The Directors acknowledge their responsibility under section 172 of Companies Act 2006. All investments are long-term by nature, meaning the long-term consequences of decisions are considered. We work hard to maintain high standards of business conduct, to treat our employees well, and to foster good relationships with suppliers, customers and investors.

Approved by the Board of Directors and signed on its behalf by:

Oumar Diallo Director

3rd Floor 58 Davies Street
London
W1K 5JF
United Kingdom

15 April 2026

	Note	18.12.2025		18.06.2024
		£		£
Fixed assets
Tangible assets	7	47,520		53,853
		47,520		53,853
Current assets
Debtors	8	408,191		217,014
Cash at bank and in hand	9	61,423		117,415
		469,614		334,429
Creditors: amounts falling due within one year	10	( 991,844)		( 202,415)
Net current (liabilities)/assets		(522,230)		132,014
Total assets less current liabilities		(474,710)		185,867
Net (liabilities)/assets		(474,710)		185,867
Capital and reserves	12
Called-up share capital		9,112,504		7,955,504
Profit and loss account		( 9,587,214)		( 7,769,637)
Total shareholder's (deficit)/funds		(474,710)		185,867

The financial statements of Aeon Investments Limited (registered number: 11899434) were approved and authorised for issue by the Board of Directors on 15 April 2026. They were signed on its behalf by:

Oumar Diallo Director

	Period from 19.06.2024 to 18.12.2025		Period from 01.01.2024 to 18.06.2024
	£		£
Net cash flows from operating activities (note 13)	( 1,494,500)		( 589,026)
Cash flows from investing activities
Purchase of plant and machinery	( 8,492)		( 166)
Net cash flows from investing activities	( 8,492)		( 166)
Cash flows from financing activities
Proceeds on issue of shares	150,000		450,000
Loaned from parent	1,147,000		200,000
Other loan	150,000		0
Net cash flows from financing activities	1,447,000		650,000
Net (decrease)/increase in cash and cash equivalents	( 55,992)		60,808
Cash and cash equivalents at beginning of period	117,415		56,607
Cash and cash equivalents at end of period	61,423		117,415
Reconciliation to cash at bank and in hand:
Cash at bank and in hand at end of period	61,423		117,415
Cash and cash equivalents at end of period	61,423		117,415

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Aeon Investments Limited (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 3rd Floor 58 Davies Street, London, W1K 5JF, United Kingdom.

The principal activities are set out in the Strategic Report.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Financial Reporting Standard 102 (FRS 102) applicable in the UK and Republic of Ireland issued by the Financial Reporting Council and the requirements of the Companies Act 2006.

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

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. Post year end, £950,000 has been raised through a share allotment. The Company has the support from the parent company to continue in operational existence and 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents advisory fees net of value added tax. The advisory fees income is recognised when services are performed at fair value of the consideration received or receivable on the accruals basis.

Taxation

Current tax, including UK corporation tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the Balance Sheet date.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Other income

Other income represents rental income net of value added tax. The rental income is recognised in the period in which the property is rented out on an accruals basis.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	10.13 years straight line
Office equipment	3 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade and other creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

2.Transition to FRS102

The company has adopted FRS 102 for the period ended 18 December 2025. There have been no adjustments made to the comparative period amounts that were prepared under FRS 105.

3. Turnover

Breakdown by business class

An analysis of the company's turnover by class of business is set out below.

	18.12.2025		18.06.2024
	£		£
Advisory fees	532,906		307,926

Turnover is wholly attributable to the principal activity of the company and arises solely within the United Kingdom.

4. Auditor's remuneration

An analysis of the auditor's remuneration is as follows:

	Period from 19.06.2024 to 18.12.2025		Period from 01.01.2024 to 18.06.2024
	£		£
Fees payable to the company’s auditor and its associates for the audit of the company's annual financial statements:	30,000		0
Total audit fees	30,000		0
Other services	36,156		16,593
Total non-audit fees	36,156		16,593

5. Staff number and costs

	18.12.2025		18.06.2024
	Number		Number
The average monthly number of employees (including directors) was:
	6		7

Their aggregate remuneration comprised:

	Period from 19.06.2024 to 18.12.2025		Period from 01.01.2024 to 18.06.2024
	£		£
Wages and salaries	1,158,106		383,268
Social security costs	161,271		47,653
Other retirement benefit costs	48,357		17,794
	1,367,734		448,715

6. Directors' remuneration

	Period from 19.06.2024 to 18.12.2025		Period from 01.01.2024 to 18.06.2024
	£		£
Directors' emoluments	674,274		210,000

Remuneration of the highest paid director

	Period from 19.06.2024 to 18.12.2025		Period from 01.01.2024 to 18.06.2024
	£		£
Director's emoluments	374,591		116,665

7. Tangible assets

	Leasehold improve- ments		Office equipment		Computer equipment		Total
	£		£		£		£
Cost
At 19 June 2024	90,495		11,500		29,562		131,557
Additions	8,096		0		396		8,492
At 18 December 2025	98,591		11,500		29,958		140,049
Accumulated depreciation
At 19 June 2024	38,504		10,721		28,479		77,704
Charge for the financial period	13,400		639		786		14,825
At 18 December 2025	51,904		11,360		29,265		92,529
Net book value
At 18 December 2025	46,687		140		693		47,520
At 18 June 2024	51,991		779		1,083		53,853

8. Debtors

	18.12.2025		18.06.2024
	£		£
Trade debtors	116,239		0
Other taxation and social security	47,526		39,103
Other debtors	30,356		20,279
Prepayments and accrued income	29,306		74,016
Deposits	58,400		58,400
Amounts owed by directors (note 14)	126,364		25,216
	408,191		217,014

9. Cash and cash equivalents

	18.12.2025		18.06.2024
	£		£
Cash at bank and in hand	61,423		117,415

10. Creditors: amounts falling due within one year

	18.12.2025		18.06.2024
	£		£
Other loans	150,000		0
Trade creditors	136,175		74,911
Amounts owed to parent undertakings (note 14)	140,001		1
Payroll taxes payable	416,667		37,534
Taxation and social security	42,575		8,438
Accruals and deferred income	104,717		79,630
Other creditors	1,709		1,901
	991,844		202,415

11. Financial instruments

The carrying values of the company’s financial assets and liabilities are summarised by category below:

	18.12.2025		18.06.2024
	£		£
Financial assets
Measured at undiscounted amount receivable
Trade debtors (note 8)	116,239		0
Other debtors (note 8)	30,356		20,279
Amounts owed by directors (note 8)	126,364		25,216
	272,959		45,495
Financial liabilities
Measured at amortised cost
Bank loans and other loans	( 151,709)		( 1,901)
Measured at undiscounted amount payable
Trade creditors (note 10)	( 136,175)		( 74,911)
Amounts owed to Parent undertakings (note 10)	( 140,001)		( 1)
	(427,885)		(76,813)

12. Called-up share capital and reserves

	18.12.2025		18.06.2024
	£		£
Allotted, called-up and fully-paid
9,112,504 Ordinary shares of £ 1.00 each (18.06.2024: 7,955,504 shares of £ 1.00 each)	9,112,504		7,955,504
Presented as follows:
Called-up share capital presented as equity	9,112,504		7,955,504

13. Statement of Cash Flows

	Period from 19.06.2024 to 18.12.2025		Period from 01.01.2024 to 18.06.2024
	£		£
Operating loss	( 1,822,310)		( 521,922)
Adjustment for:
Depreciation and amortisation	14,825		4,622
Interest Receivable	5,111		39
Operating cash flows before movement in working capital	( 1,802,374)		( 517,261)
Increase in debtors	( 191,178)		( 71,988)
Increase in creditors	499,430		223
Cash generated by operations	( 1,494,122)		( 589,026)
Interest paid	( 378)		0
Net cash flows from operating activities	( 1,494,500)		( 589,026)

14. Related party transactions

The company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the company is a wholly owned member.

Transactions with the entity’s directors (or members of its governing body)

Amounts owed by directors

	18.12.2025		18.06.2024
	£		£
Amounts owed by directors	126,364		25,216

During the year, the Company made advancements of £100,928 (2024: £25,177) to the Directors. The Directors repaid £2,105 (2024: £nil). Interest has been charged of £2,325 (2024: £39). The amounts owed from the Directors at year end was £126,364 (2024: £25,216). The loan is repayable on demand.

15. Financial Commitments

Commitments under non-cancellable operating leases not provided for in the accounts

	18.12.2025		18.06.2024
	£		£
Less than 1 year	87,813		87,813
Between 1 and 5 years	262,236		351,252
Over 5 years	0		42,583
	350,049		481,648

16. Audit Opinion

The auditor's report on the accounts for the financial period ended 18 December 2025 was unqualified.

The audit report was signed by Steven Wakefield on behalf of Dixon Wilson Audit Services LLP.

17. Controlling party

Parent Company:

Aeon Group Limited

19-21 Broad Street St Helier Jersey Channel Islands JE2 3RR