REGISTERED NUMBER: 02496175 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

ALMAYA INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

V P Bahirwani

Ms U Pagarani

Ms K Pagarani

D L Pagarani

K Vachani

REGISTERED OFFICE:

Imex Centre Suite-024,

575-599, Maxted Road

Hemel Hempstead

Hertfordshire

HP2 7DX

REGISTERED NUMBER:

02496175 (England and Wales)

AUDITORS:

MCA Audit Limited

7 St John's Road

Harrow

HA1 2EY

BANKERS:

Habib Bank Zurich Plc

Habib House

42 Moorgate

London

EC2R 6JJ

FIXED ASSETS

Tangible assets

5

197

368

Investments

6

2,392

1,872

Investment property

7

5,150,000

5,150,000

5,152,589

5,152,240

CURRENT ASSETS

Debtors

8

1,642,158

1,508,298

Cash at bank and in hand

506,820

603,946

2,148,978

2,112,244

CREDITORS

Amounts falling due within one year

9

1,283,751

1,607,207

NET CURRENT ASSETS

865,227

505,037

TOTAL ASSETS LESS CURRENT LIABILITIES

6,017,816

5,657,277

CREDITORS

Amounts falling due after more than one year

10

(275,485

)

(337,944

)

PROVISIONS FOR LIABILITIES

12

(791,678

)

(791,678

)

NET ASSETS

4,950,653

4,527,655

CAPITAL AND RESERVES

Called up share capital

5,000,000

5,000,000

Revaluation reserve

2,375,035

2,375,035

Retained earnings

(2,424,382

)

(2,847,380

)

4,950,653

4,527,655

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2026 and were signed on its behalf by:

D L Pagarani - Director

1.	STATUTORY INFORMATION

Almaya International 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 Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are presented in Pound Sterling (£), which is also the Company’s functional currency.

Almaya International Limited is first consolidated at its immediate parent company, Greenock Holdings Group Limited, BVI. Thereafter, Almaya International (BVI) Inc., which is the ultimate parent company for the group, consolidates Greenock Holdings Group Limited, BVI. within its consolidated group financial statements. These consolidated accounts are available to be obtained from :

Al Maya Group Building

National Industrial Park

Jebel Ali Industrial 3

Dubai , United Arab Emirates

As a subsidiary undertaking, the company is exempt from the requirements of certain financial reporting disclosures under FRS 102. In particular, the company has taken advantage of the following disclosure exemptions:

- The requirements of Section 7 Statement of Cash Flows;

- The requirements of Section 33 Related Party Disclosures in respect of transactions with wholly owned members of the group; and

- The requirements of Section 11 and Section 12 in respect of financial instruments disclosures;

Going concern

The financial statements have been prepared on a going concern basis. The directors have reviewed the company’s cash flow forecasts and projections and are satisfied that the company will be able to meet its liabilities as they fall due. They have confirmed their intention to provide ongoing financial support to the company and have undertaken not to demand repayment of the amounts due to them for a period of at least twelve months. On this basis, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover represents the amount receivable for services supplied by the company in the ordinary course of its business, excluding value added tax and other sales taxes and net of trade discounts, rebates and other similar deductions.

Turnover is recognised when the amount of turnover can be reliably measured and it is probable that the economic benefits associated with the transaction will flow to the company.

Revenue from the provision of services is recognised by reference to the stage of completion of the transaction at the reporting date, where the outcome of the transaction can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent that costs incurred are expected to be recoverable.

Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax and other sales taxes and after deducting discounts, rebates and other similar allowances.

Turnover arising from transactions denominated in foreign currencies is translated into the company's functional currency at the exchange rate prevailing at the date of the transaction. For operational purposes, the company applies a predetermined annual exchange rate, established at the beginning of each financial year based on the preceding year-end closing exchange rate, which approximates the actual exchange rate prevailing during the year and is used consistently throughout the year. Monetary assets and liabilities denominated in foreign currencies are translated at the closing exchange rate at the reporting date, with resulting exchange differences recognised in profit or loss.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investment property

Investment properties are properties held to earn rentals or for capital appreciation, or both. Investment property is initially recognised at cost, including transaction costs. Subsequent to initial recognition, investment property is measured at fair value in accordance with FRS 102 Section 16.

Fair value reflects the price at which the property could be exchanged between knowledgeable, willing parties in an arm’s-length transaction at the reporting date. Gains or losses arising from changes in the fair value of investment property are recognised in profit or loss in the period in which they arise.

The fair values are determined by independent, professionally qualified valuers, using recognised valuation techniques and considering market-based evidence. Investment property is not depreciated.

Financial instruments

The company has financial assets and financial liabilities that comprise trade and other receivables, cash and cash equivalents, trade and other payables and borrowings.

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets are initially measured at transaction price and subsequently measured at amortised cost, less any impairment losses where applicable.

Financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, where applicable.

Trade receivables are recognised initially at the transaction price and subsequently measured at amortised cost, less any provision for impairment.

Cash and cash equivalents comprise cash at bank and in hand.

Trade and other payables are recognised initially at the transaction price and subsequently measured at amortised cost.

The company does not hold or issue derivative financial instruments.

The company's financial instruments give rise to exposure to credit risk and liquidity risk. The directors regularly review the company's exposure to these risks and consider that the company is not exposed to significant financial instrument risks beyond those arising in the normal course of business.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

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

Fixed asset investments

Fixed asset investments are investments in equity or debt instruments that are intended to be held on a long-term basis. They are initially recognised at cost, including any directly attributable transaction costs.

Subsequent to initial recognition, investments that are classified as fixed asset investments may be carried at their revalued amount, being the fair value at the date of revaluation, less any subsequent accumulated impairment losses. Revaluations are performed with sufficient regularity to ensure that the carrying amount does not differ materially from the fair value at the reporting date.

Increases in value arising on revaluation are recognised in other comprehensive income and accumulated in a revaluation reserve within equity. Decreases in value are recognised in profit or loss to the extent that they exceed any existing balance in the revaluation reserve for the same investment.

On disposal of a revalued investment, any balance in the revaluation reserve relating to that investment is transferred directly to retained earnings. Impairment losses, if any, are recognised in profit or loss.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The Company's investment properties are measured at fair value at each reporting date in accordance with Section 16 of FRS 102, with movements in fair value recognised in profit or loss.

The determination of fair value requires significant estimation and is based on market evidence available at the reporting date. Fair values are determined either by independent professionally qualified valuers or by the directors using appropriate valuation techniques and market data.

Due to the inherent uncertainty associated with property valuations, particularly where market activity is limited, actual outcomes may differ from the estimates applied. A change in any of the significant assumptions may result in a material adjustment to the carrying value of investment properties in future reporting periods.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	AUDITORS' REMUNERATION

2025

2024

£

£

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

9,750

10,150

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

4,565

Disposals

(434

)

At 31 December 2025

4,131

DEPRECIATION

At 1 January 2025

4,197

Charge for year

168

Eliminated on disposal

(431

)

At 31 December 2025

3,934

NET BOOK VALUE

At 31 December 2025

197

At 31 December 2024

368

6.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 January 2025

1,872

Revaluations

520

At 31 December 2025

2,392

NET BOOK VALUE

At 31 December 2025

2,392

At 31 December 2024

1,872

Cost or valuation at 31 December 2025 is represented by:

Listed

investments

£

Valuation in 2025

520

Cost

1,872

2,392

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

5,150,000

NET BOOK VALUE

At 31 December 2025

5,150,000

At 31 December 2024

5,150,000

The investment property has been revalued by the directors based on their assessment of the fair value. The directors have considered market conditions, comparable property prices and rental yields in determining the revalued amount.The last valuation was conducted by Oswicks Property Professionals as on 31 October 2025.

Fair value at 31 December 2025 is represented by:

£

Valuation in 2024

3,166,713

Cost

1,983,287

5,150,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

112,495

139,036

Amounts owed by group undertakings

12,036

12,375

Amounts owed by fellow undertakings

1,412,764

1,304,837

Other debtors

104,863

52,050

1,642,158

1,508,298

Amounts owed from group undertakings represent an interest-free, unsecured loan provided to the subsidiary companies.

Amounts owed from fellow group undertakings comprise of balances arising from trading activities together with interest-free, unsecured loans provided to entities within the Group.

All the above loans are repayable on demand and is therefore classified as falling due within one year.

Certain items have been reclassified as Other Debtors from Trade Debtors in the comparative figures presented within this note.

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 11)

199,019

305,270

Trade creditors

97,431

102,751

Amounts owed to group undertakings

558,631

558,631

Amounts owed to fellow undertakings

401,496

622,627

Taxation and social security

17,424

7,778

Other creditors

9,750

10,150

1,283,751

1,607,207

Amounts owed to group undertakings represent an interest-free, unsecured loan provided by the holding company.

Amounts owed to fellow group undertakings comprise of balances arising from trading activities together with interest-free, unsecured loans provided by entities within the Group.

All the above loans are repayable on demand and is therefore classified as falling due within one year.

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 11)

190,060

252,519

Other creditors

85,425

85,425

275,485

337,944

11.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

140,788

255,366

Bank loans

58,231

49,904

199,019

305,270

Amounts falling due between one and two years:

Bank loans - 1-2 years

61,669

56,593

Amounts falling due between two and five years:

Bank loans - 2-5 years

128,391

195,926

The Company has a bank loan from Lloyds TSB Bank Plc, with repayment structured over 240 monthly instalments representing principal and interest. The loan is fully repayable by November 2029. The loan is secured by a fixed and floating charge over the assets of the Company and bears interest at 2% above the Bank of England base rate.

12.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

791,678

791,678

Deferred

tax

£

Balance at 1 January 2025

791,678

Balance at 31 December 2025

791,678

Deferred tax provision relates to the revaluation of investment property.

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

The Report of the Auditors was unqualified.

Mr Shailesh Patel (Senior Statutory Auditor)

for and on behalf of MCA Audit Limited

14.	POST BALANCE SHEET EVENTS

Subsequent to the year-end, the company entered into a transaction for the acquisition of shares in a company, with the consideration valued at approximately £250,000. This is a non-adjusting event and has no impact on the current year's results nor financial position.

15.	ULTIMATE CONTROLLING PARTY

The controlling party is Greenock Holdings Group Limited, being the immediate parent company.

The ultimate controlling party is Almaya International (BVI) Inc, being the ultimate parent.