| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2025 |
| for |
| Stalex Investments Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2025 |
| for |
| Stalex Investments Limited |
| Stalex Investments Limited (Registered number: 12127859) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Stalex Investments Limited |
| Company Information |
| for the Year Ended 31 December 2025 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| & Statutory Auditors |
| 1 Beauchamp Court |
| 10 Victors Way |
| Barnet |
| Hertfordshire |
| EN5 5TZ |
| Stalex Investments Limited (Registered number: 12127859) |
| Statement of Financial Position |
| 31 December 2025 |
| 31.12.25 | 31.12.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 | 22,064,803 | 14,465,684 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| Stalex Investments Limited (Registered number: 12127859) |
| Statement of Financial Position - continued |
| 31 December 2025 |
| The financial statements were approved by the director and authorised for issue on |
| Stalex Investments Limited (Registered number: 12127859) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2025 |
| 1. | STATUTORY INFORMATION |
| Stalex Investments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern Disclosure |
| The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than 12 months from the approval of these accounts. |
| The director, having considered all the information available, are confident that the company has adequate resources to continue its operational activities for the foreseeable future. Accordingly, the director is satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements. |
| Tangible fixed assets |
| Marine construction | - |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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. |
| Stalex Investments Limited (Registered number: 12127859) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at Insert detail. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Marine |
| construction |
| £ |
| COST |
| At 1 January 2025 |
| Additions |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| Depreciation is not available since the tangible fixed asset is under construction. |
| 5. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST OR VALUATION |
| At 1 January 2025 |
| Additions |
| Disposals | ( |
) |
| Revaluations | ( |
) |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| Stalex Investments Limited (Registered number: 12127859) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| Cost or valuation at 31 December 2025 is represented by: |
| Unlisted |
| investments |
| £ |
| Valuation in 2020 | 10,076 |
| Valuation in 2021 | 1,451,301 |
| Valuation in 2022 | 4,884,642 |
| Valuation in 2023 | 6,180,825 |
| Valuation in 2024 | 5,855,979 |
| Valuation in 2024 | 6,253,246 |
| Valuation in 2025 | (6,136,202 | ) |
| Cost | 41,570,567 |
| 60,070,434 |
| If fixed asset investments had not been revalued they would have been included at the following historical cost: |
| 31.12.25 | 31.12.24 |
| £ | £ |
| Cost | 41,570,567 | 353,139,013 |
| Fixed asset investments were valued on an open market basis on 31 December 2025 by Custodian reports . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.25 | 31.12.24 |
| £ | £ |
| Other debtor | 64,911 | 48,037 |
| VAT |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.25 | 31.12.24 |
| £ | £ |
| Other loans |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Net wages | 4,459 | 5,217 |
| Stalex Investments Limited (Registered number: 12127859) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.25 | 31.12.24 |
| £ | £ |
| Shareholders account | 10,734,216 | 4,881,465 |
| Intercompany loan | 43,755,892 | 390,295,315 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.25 | 31.12.24 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2025 |
| Profit for the year |
| At 31 December 2025 |
| 11. | RELATED PARTY DISCLOSURES |
| At 31 December 2025 the company owed an amount of £43,755,892 (31.12.2024 :£ 390,295,315 ) to Hyperbolicum investments Ltd. |
| The company acquired 100% of the share capital of Hyperbolicum investments Limited, a company is registered in England and Wales. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |