REGISTERED NUMBER: 14545034 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2025

for

Apg Pi Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Omirou

R E Summerskill

SECRETARY:

C A Massos

REGISTERED OFFICE:

29 York Street

London

United Kingdom

W1H 1EZ

REGISTERED NUMBER:

14545034 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,154

1,679

CURRENT ASSETS

Debtors

5

13,495,783

12,742,972

Cash at bank and in hand

21,911

33,665

13,517,694

12,776,637

CREDITORS

Amounts falling due within one year

6

13,138,622

2,892,535

NET CURRENT ASSETS

379,072

9,884,102

TOTAL ASSETS LESS CURRENT LIABILITIES

380,226

9,885,781

CREDITORS

Amounts falling due after more than one year

7

350,615

9,862,850

NET ASSETS

29,611

22,931

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

29,511

22,831

29,611

22,931

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 16 September 2026 and were signed on its behalf by:

M J Omirou - Director

1.	STATUTORY INFORMATION

Apg Pi 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

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services provided in facilitating finance, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the

company’s financial position and forecasts for a period of at least 12 months from the date of approval of the

financial statements and are satisfied that the company has sufficient resources to continue in operation for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2024

and 30 September 2025

2,099

DEPRECIATION

At 1 October 2024

420

Charge for year

525

At 30 September 2025

945

NET BOOK VALUE

At 30 September 2025

1,154

At 30 September 2024

1,679

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

211,036

284,416

Other debtors

13,284,747

12,458,556

13,495,783

12,742,972

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

44,160

Amounts owed to group undertakings

2,069,515

920,937

Other creditors

11,069,107

1,927,438

13,138,622

2,892,535

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

350,615

9,862,850

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Other loans

10,302,428

11,165,188

The loan is secured by a fixed and floating charge over the companies property and undertakings. The charge contains a negative pledge.

9.	RELATED PARTY DISCLOSURES

The outstanding balance due from related party undertakings for short term loans at 30 September 2025 was £13,224,905 (2024: £11,549,833). Of this amount, £4,156,837 was interest free and £9,068,068 bore interest at 18% per annum. All balances were repayable on demand.

The outstanding balance due from related party undertakings for short term loans at 30 September 2025 was £2,069,514 (2024: £920,937). This balance was interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Highgate Investment Trust.

The ownership of the controlling party, Apg Strategic Developments Limited, was transferred from Melanie

Omirou to Romy Summerskill, both acting on behalf of Highgate Investment Trust effective 28 December 2024.