The directors present the strategic report of Sun Global Investments Ltd for the period ended 31 March 2026.

Principal Activities of the Company

The principal activity of the company is to provide investment advisory, broking & trading services within capital markets. Company is authorised and regulated by the Financial Conduct Authority (FCA) in U.K.

The process of risk management is addressed through a framework of policies, procedures and internal controls. Compliance with regulations, legal and ethical standards is a priority for the company and is managed throughout the operational activities of the business. A detailed analysis of all risks applicable to the Company so far identified is provided in the Director’s Report.

Business environment and operational strategy

Over the course of the 15 months period, Sun Global charted its growth path yet again. The global markets during the period had to deal with uncertainty caused by the wars in Ukraine and the Middle East and of course the volatility created by the US elections/ Sanctions/ Tariffs/ Inflation/ UK – change in domicile rules & regulations.

The company reasserted its growth momentum especially in the emerging markets and during the year several new transactions and initiatives in newer geographies and securities were undertaken.

The Securities Trading (ST) desk has been focusing on various global markets and continues to explore new clients such as family offices, funds and banks. There were some personnel changes during the period which had an impact to some extent on revenue and profitability. New hires have been made, and the focus is on rebuilding and growth.

Our Investment Advisory (IA) business with its leaner and sharper focus has done well and is slowly but steadily increasing its client and asset base. The Investment Advisory team continues to run its mandates on advising for various family offices and private funds. Their performance has been appreciated. During the year they have originated and advised on new shariah compliant products and US$ portfolio under the UBS platform which are gaining good traction.

The Corporate Finance (CF) has had a challenging period in terms of closure of some of the larger mandates some of which got postponed or didn’t materialise. The team manged to capture some advisory fees based on retainer work. The team have a strong and robust pipeline of mandates which are being completed over the course of this coming year.

Our company has made significant developments in various departments. The focus is on increasing the scale and sizes in each department and focusing in fewer areas and sectors is paramount.

Our compliance team continues to do a great job of supervision, training and advising our team. We look forward to the year 2026-27 with a great sense of optimism and confidence.

Risk Management

In the view of the directors the following are the key risks faced by the Company:-

Financial risk

The Company has in place a risk management process to limit the adverse effects on the financial performance of the Company by monitoring the exposure to each respective risk. The policies are set by the Board of Directors and monitored by the Finance Department. Given the size of the Company, the directors do not deem it necessary to delegate the responsibility of monitoring risk management to a sub-committee of the board.

Market Risk

The Company's main focus is on stock market shares and securities. Fluctuations in the stock markets have an impact on the Company's positions as well as on client positions. The directors believe this to be a risk, from both a monetary as well as a reputational perspective. The business has a strong dependence upon political stability around the world. Any political instability or fiscal policies adopted could affect the Company's revenues. Regulations and laws could affect the business of the Company.

Operational Risk

This is the risk that the Company runs in its ongoing business operations. The Company mitigates this by a strong robust framework of systems and controls and compliance with all relevant and applicable FCA regulations. In terms of specific risk areas, the Company has robust disaster recovery arrangements in place. All payments have to be authorised and checked by two individuals before they can be made. This significantly reduces the scope for fraud. A comprehensive financial report is produced on a daily basis and reviewed by the CEO. The Company only deals with professional clients who are experienced and knowledgeable investors. This reduces significantly the risks of mis-selling. The company has embraced AI based tools in a positive and proactive manner, which under the close supervision & guidance of compliance and our Operations team will allow the business to be more efficient in terms of client interaction and cost effective at the same time. The Company is expected to be to benefit from this change and expects a positive impact on its operations/ Technology/ Procedures/ Policies.

Counterparty Risk 

Counterparties that the Company deals with are appropriately regulated in their respective jurisdictions. In addition, almost all counterparties are vetted by Pershing UK as Clearing and Settlement Agent. Most transactions are entered into on a delivery versus payment basis. These factors mean that Counterparty Risk is significantly reduced.

Credit risk

The Company performs appropriate due diligence on potential customers before entering into any transactions. The Company ensures credit given is effectively managed.

Liquidity risk

The Company actively maintains adequate levels of liquid resources to ensure sufficient funds are available to settle liabilities as they fall due. The Company has also a mechanism in place to track the liquidity position on a daily basis to monitor the application of the Company’s funds in operation.

Interest rate risk

There is minimal exposure to interest rate risk in relation to the assets and liabilities held. The Directors constantly monitor and act as and when required to mitigate this risk taking into account the size or nature of the company's operations.

Currency risk

The Company is exposed to currency risk in its operations including client and proprietary positions. The Company seeks to minimize exposure to currency risk at all times. The Company has diversified its operations to different locations which has helped mitigate exposure to any one currency or market. The Company also continuously monitors the movements in currency which it is exposed to and looks out for suitable opportunities to convert currency to meet its operational requirements. The operational currency of the Company, GBP will remain under pressure against EUR, USD and other prominent currencies due to economic slowdown in the Great Britain and the impact of the geo-political environment.

The following steps are taken to mitigate all of the above-mentioned risks:

The directors are consciously working towards diversifying the Company services by adding more and diversified products and services it can offer.

The directors are investing resources to build strong systems and processes to monitor trades and fund flows.

The Company undertakes appropriate due diligence before accepting any new counter party and monitors these relationships on an ongoing basis.

With respect to the corporate finance mandate the directors follow the compliance procedures that are in place to mitigate the risks involved with the transaction in line with the recommendations of Compliance department from time to time.

The Company holds professional Indemnity cover certain client related risks, and level of cover is kept regular review.

The Company performed in line with the strategic objectives of the board for the period although the operating environment remains challenging. Profits/(loss) before taxation for the period were $(1,316,620), 2024 - $(876,221). The directors are optimistic about the future prospects and expect slow but steady growth in the future. The company uses generic key performance indicators, the principal one being, and current asset ratio. These on a comparative basis have been:

                        2026        2024

Gross Profit %                    69%        71%

Current asset to current liabilities ratio     3.59 times 2.61 times

The shareholders' funds decreased from $1,425,419 at the start of the period to $1,209,094 at 31 March 2026. Company's position at the balance sheet date is shown on page 11.

By order of the board

The directors present their annual report and financial statements for the period ended 31 March 2026.

The principal activity of the company is to provide Investment Advisory, Broking & Trading Services within Capital Markets. Company is authorised and regulated by the Financial Conduct Authority (FCA) in U.K.

The results for the period are set out on page 9.

No ordinary dividends were for either for the period or the previous year.

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

The auditor, Ashley King Ltd, are deemed to be reappointed under section 487(2) of the Companies Act 2006

As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

The directors are responsible for preparing the annual report 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 of the profit or loss of the company 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;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

We have audited the financial statements of Sun Global Investments Limited (the 'company') for the period ended 31 March 2026 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 company's affairs as at 31 March 2026 and of its loss 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

• the information given in the strategic report and the directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

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

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

• the 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.

As explained more fully in the directors' responsibilities statement, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.

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 an auditor's report 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.

• Assessed the nature of the industry and sector, control environment and business performance including the remuneration incentives and pressures of key management;

• The primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. We consider the 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 Company’s 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 non-compliance;

  • 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 and involving relevant internal specialists, regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and relevant tax legislation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

Sun Global Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 160 Great Portland Street, London, United Kingdom, W1W 5QA.

The financial statements for the current period cover 15 months ended 31 March 2026. The comparative figures are for the 12‑month period ended 31 December 2024.

The reporting period has been extended to 31 March 2026 in order to align the Company's reporting cycle for both corporation tax and statutory reporting.

As a consequence of this change, the comparative amounts presented in the financial statements, including the related notes, are not entirely comparable with those for the current period.

The financial statements are prepared in United States Dollars, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest $.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover represents amounts receivable for Consultancy, Brokerage and proprietary trading net of VAT and trade discounts.

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

Amounts recoverable under ongoing work in progress, is included in debtors, and are stated at the net sales value after provision for contingencies and anticipated future losses.

Revenue in relation to Brokerage and proprietary trading is recognised on execution of the transaction and via marking to market .

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Provisions

Provisions are recognised when the Company has a present obligation as a result of a past event is probable that the Company will be required to settle that obligation.

Trade and other receivables

Trade debtors are stated after deduction of provisions for bad debts computed on the basis of an assessment of the particular risks.

Trade and other payables

The Company's policy on payment of creditors is to abide by the terms agreed prior to the commencement of work. The Company normally discharges its obligations to creditors upon the work being satisfactorily completed.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

An analysis of the company's turnover is as follows:

The average monthly number of persons (including directors) employed by the company during the period was:

Their aggregate remuneration comprised:

Also see note 29 in respect of key employees

The actual (credit)/charge for the period can be reconciled to the expected credit for the period based on the profit or loss and the standard rate of tax as follows:

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

The impairment losses in respect of financial assets are recognised in other gains and losses in the profit and loss account.

These financial statements are separate company financial statements for Sun Global Investments Ltd only.

Details of the company's associates at 31 March 2026 are as follows:

The bank overdraft is secured by a fixed and floating charge.

During the year, the company received a loan of US$ 342,950 (£250,000) from a related party.

The loan is unsecured and interest free. It is repayable on six-year anniversary, provided all other creditors of the company have been paid or adequate provision made to discharge them.

In accordance with FRS 102, the loan has been recognised initially at fair value, being the present value of future cashflows at US$ 255,978, discounted at market rate of 5%. The difference of US$86,972 between the actual loan received and the discounted fair value has been recognised in other reserve as capital contribution from a related party.

At the period end the amount due in respect of the loan is stated at the amortised value using the effective rate method. Accordingly the initial present value of the loan has been increased by US$10,590 being the unwinding of the loan discount. (See note 26).

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. The leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

During the period, all such lease arrangements were terminated and there are no outstanding lease commitments or liabilities at the reporting date.

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

The deferred tax asset relates to provision made in respect of tax loses carried forward at the period end which are expected to be relived against future trading profits in the short to medium term.

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the period, the company issued 29,858 ordinary shares for a total consideration of US$668,000. The nominal value of the shares issued has been credited to share capital.

The capital contribution reserve represents the difference arising on initial recognition of an interest-free loan from a shareholder, measured at the present value of future repayments in accordance with FRS 102. The reserve is treated as a contribution from a shareholder. Other movement relates to the unwinding of loan discount initially recognised.

Operating lease payments represent rents payable by the company. At the period end an average of 6 years remained with fixed rental commitment.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

The remuneration of key management personnel is as follows.

During the period under review, transactions in the normal course of trade with associated entities, amounted to in aggregate, 2026 - $283,011(2024 - $122,671). At the reporting date, the Company was owed, $6,648 (2024 - $2,375) by an associated entity.

During the period under review, transactions in normal course of trade services to other related parties amounted to in aggregate, 2026 - $1,024,011 (2024 - $412,949) - At the reporting date, $163,646 (2024 - $124,020) was due from them.

Other creditors include $431,255 (2024 - $566,041) of loans received from other related parties. The interest rate on the loans ranges from 5% - 12% and they are due within one year. During the year interest charged on the loan amounts to $45,623 (2024 - $27,462).

Dividends totalling £0 (2024 - £0) were paid in the period in respect of shares held by the company's directors.

At the period end other debtors include a balance of $13,200(2024 - $22,112) from Mr M Kapadia, a director of the company.

The company is under the ultimate control of Mihir Kapadia, who is a director.

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