ACCOUNTS - Final Accounts

AUDITORS' REMUNERATION

During the year, the Group obtained the following services from the Company's auditors:

Registered number: 07929015

MONEYCORE ASSET MANAGEMENT LIMITED

(FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

COMPANY INFORMATION

DIRECTOR	Mr K Robbins


REGISTERED NUMBER	07929015


REGISTERED OFFICE	9 Osier Way
	Olney Business Park
	Olney
	Buckinghamshire
	MK46 5FP


INDEPENDENT AUDITORS	Bishop Fleming Audit Limited
	Chartered Accountants & Statutory Auditors
	Brook House
	Winslade Park
	Manor Drive
	Clyst St Mary
	Exeter
	EX5 1GD

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

CONTENTS

	Page
Group strategic report
Director's report
Director's responsibilities statement
Independent auditors' report
Consolidated statement of income and retained earnings
Consolidated statement of financial position
Company statement of financial position
Consolidated statement of cash flows
Notes to the financial statements

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

BUSINESS REVIEW

Turnover for the Group has increased by 0.2% in the year to £32,643,478 from £32,590,499.

The Director believes the results for the year ended 31 December 2025 are encouraging, where the market is notoriously competitive. Continued strong turnover and profits are expected for 2026.

PRINCIPAL RISKS AND UNCERTAINTIES

Credit and Fraud Risk
The Group is exposed to the risk that clients owing the Group money will not fulfil their obligations. The Group reviews the exposure for every client, including the level of security available in the event of default.

Nevertheless, default credit risk may arise from events or circumstances that are difficult to detect and handle, such as fraud.

Inadequate Security
The Group is exposed to the risk that security on which the finance advances are made, reduce in value, so that the Group may not recover some or all of its finance advances in an event of default.

Risk is mitigated by the spread of finance advances and types of clients involved along with detailed assessment of the value of security available at the time of the finance advances.

FINANCIAL KEY PERFORMANCE INDICATORS

The Group's key performance indicators during the year were as follows:

2025 2024
Turnover £32,643,478 £32,590,499
Operating Profit £20,883,354 £22,174,724

This report was approved by the board and signed on its behalf.

Mr K Robbins

Director

Date: 6 August 2026

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The Director presents his report and the financial statements for the year ended 31 December 2025.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £15,597,163 (2024: £14,951,414).

During the year dividends amounting to £17,000,000 (2024: £15,000,000) were paid. Following the end of the financial year, dividends amounting to £Nil (2024: £4,000,000) have been paid.

DIRECTOR

The Director who served during the year was:

Mr K Robbins

DISCLOSURE OF INFORMATION TO AUDITORS

The Director at the time when this Director's report is approved has confirmed that:

∙so far as he is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙he has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

AUDITORS

The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

Mr K Robbins

Director

Date: 6 August 2026

9 Osier Way

Olney Business Park

Olney

Buckinghamshire

MK46 5FP

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

DIRECTOR'S RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

The Director is responsible for preparing the Group strategic report, the Director's report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the Director to prepare financial statements for each financial year. Under that law the Director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the Director is required to:

∙select suitable accounting policies for the Group's financial statements 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;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The Director is 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 the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

OPINION

We have audited the financial statements of Moneycore Asset Management Limited (formerly Goldmore Asset Management Limited) (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Income and Retained Earnings, the Consolidated and Company Statements of Financial Position, the Consolidated Statement of Cash Flows, and notes, 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 Group's and of the Parent Company's affairs as at 31 December 2025 and of the Group's profit for the year 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Director's 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 Group's or the Parent 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 Director with respect to going concern are described in the relevant sections of this report.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED) (CONTINUED)

OTHER INFORMATION

The other information comprises the information included in the Annual Report and Financial Statements other than the financial statements and our Auditors' report thereon. The Director is responsible for the other information contained within the Annual Report and Financial Statements. 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.

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Group strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group strategic report and the Director's report have been prepared in accordance with applicable legal requirements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Director's 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 by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the Parent Company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of Director's remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

RESPONSIBILITIES OF DIRECTORS

As explained more fully in the Director's responsibilities statement set out on page , the Director is 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 Director determines 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 Director is responsible for assessing the Group's and the Parent 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 Director either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED) (CONTINUED)

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

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 Auditors' 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 Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

∙the nature of the industry and sector, control environment and business performance;

∙results of our enquiries of management and the board 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; and

∙the matters discussed among the audit engagement team 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, which included incorrect recognition of revenue and management override of controls using manual journal entries, and these were identified as the greatest potential area for fraud.

We also obtained an understanding of the legal and regulatory frameworks that the Parent Company and Group 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. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Parent Company’s & Group's ability to operate or to avoid a material penalty. These included occupational health and safety regulations and employment legislation.

Our procedures to respond to risks identified for the Parent Company and its subsidiaries included the following, as was considered appropriate:

∙reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

∙reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;

∙enquiring of management and those charged with governance concerning actual and potential litigation and claims;

∙performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

∙reading minutes of meetings of those charged with governance; and

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED) (CONTINUED)

∙in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; and assessing whether the judgements made in making accounting estimates are indicative of a potential bias.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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.

Mark Munro BA FCA (Senior statutory auditor)

for and on behalf of

Bishop Fleming Audit Limited

Chartered Accountants

Statutory Auditors

Brook House

Winslade Park

Manor Drive

Clyst St Mary

Exeter

EX5 1GD

12 August 2026

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 31 DECEMBER 2025

	2025	As restated 2024
Note	£	£


Turnover	4	32,643,478	32,590,499
Cost of sales		(7,847,429)	(6,319,683)
GROSS PROFIT		24,796,049	26,270,816
Administrative expenses		(3,912,695)	(4,096,092)
OPERATING PROFIT		20,883,354	22,174,724
Loss from changes in fair value of investment property		-	(1,743,652)
Interest receivable and similar income	8	5,791	34,261
Interest payable and expenses	9	-	(259)
PROFIT BEFORE TAX		20,889,145	20,465,074
Tax on profit	10	(5,291,982)	(5,513,660)
PROFIT AFTER TAX		15,597,163	14,951,414



Retained earnings at the beginning of the year		48,096,494	48,145,080
		48,096,494	48,145,080
Profit for the year attributable to the owners of the parent		15,597,163	14,951,414
Dividends declared and paid	11	(17,000,000)	(15,000,000)
RETAINED EARNINGS AT THE END OF THE YEAR		46,693,657	48,096,494

The notes on form part of these financial statements.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

REGISTERED NUMBER:07929015

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		As restated 2024
Note		£		£

FIXED ASSETS
Tangible assets	12		459,423		399,584
Investment property	14		5,660,208		3,760,641
			6,119,631		4,160,225
CURRENT ASSETS
Debtors: amounts falling due after more than one year	15	33,555,373		35,903,432
Debtors: amounts falling due within one year	15	14,061,605		16,690,030
Cash at bank and in hand	17	5,699,015		7,591,751
		53,315,993		60,185,213
Creditors: amounts falling due within one year	18	(2,741,967)		(6,248,944)
NET CURRENT ASSETS			50,574,026		53,936,269
TOTAL ASSETS LESS CURRENT LIABILITIES			56,693,657		58,096,494
NET ASSETS			56,693,657		58,096,494

CAPITAL AND RESERVES
Called up share capital	20	100,000	100,000
Merger reserve	21	9,900,000	9,900,000
Profit and loss account	21	46,693,657	48,096,494
		56,693,657	58,096,494

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr K Robbins

Director

Date: 6 August 2026

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

REGISTERED NUMBER:07929015

COMPANY STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		As restated 2024
Note		£		£

FIXED ASSETS
Tangible assets	12		394,983		312,838
Investments	13		20,000,100		20,000,100
Investment property			5,660,208		3,760,641
			26,055,291		24,073,579
CURRENT ASSETS
Debtors: amounts falling due within one year	15	360,912		407,159
Cash at bank and in hand	17	643,202		301,565
		1,004,114		708,724
Creditors: amounts falling due within one year	18	(12,429,610)		(9,848,077)
NET CURRENT LIABILITIES			(11,425,496)		(9,139,353)
TOTAL ASSETS LESS CURRENT LIABILITIES			14,629,795		14,934,226


NET ASSETS			14,629,795		14,934,226

CAPITAL AND RESERVES
Called up share capital	20		100,000		100,000
Merger reserve	21		9,900,000		9,900,000
Profit and loss account brought forward		4,934,226		21,941,967
Profit/(loss) for the year		16,695,569		(2,007,741)
Other changes in the profit and loss account		(17,000,000)		(15,000,000)
Profit and loss account carried forward			4,629,795		4,934,226
			14,629,795		14,934,226

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr K Robbins

Director

Date: 6 August 2026

The notes on form part of these financial statements.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2025

			2025	2024
			£	£

CASH FLOWS FROM OPERATING ACTIVITIES
<-- Enter row heading -->	15,597,163	14,951,414
ADJUSTMENTS FOR:
Amortisation of intangible assets	-	1,743,652
Depreciation of tangible assets	70,421	57,655
Loss on disposal of tangible assets	(3,102)	100
Interest paid	-	259
Interest received	(5,791)	(34,261)
Taxation charge	5,296,073	5,513,660
Decrease in debtors	4,976,484	4,260,670
(Decrease) in creditors	(441,777)	(7,854,647)
Corporation tax (paid)	(8,361,273)	(2,090,056)
NET CASH GENERATED FROM OPERATING ACTIVITIES	17,128,198	16,548,446

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of tangible fixed assets	(141,758)	(42,199)
Sale of tangible fixed assets	14,600	-
Purchase of investment properties	(1,899,567)	-
Interest received	5,791	34,261
NET CASH FROM INVESTING ACTIVITIES	(2,020,934)	(7,938)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid	(17,000,000)	(15,000,000)
Interest paid	-	(259)
NET CASH USED IN FINANCING ACTIVITIES	(17,000,000)	(15,000,259)
(DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS	(1,892,736)	1,540,249
Cash and cash equivalents at beginning of year	7,591,751	6,051,502
CASH AND CASH EQUIVALENTS AT THE END OF YEAR	5,699,015	7,591,751

CASH AND CASH EQUIVALENTS AT THE END OF YEAR COMPRISE:
Cash at bank and in hand	5,699,015	7,591,751
	5,699,015	7,591,751

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	GENERAL INFORMATION

Moneycore Asset Management Limited (formerly known as Goldmore Asset Management Limited) is a private company, limited by shares, incorporated in England within the United Kingdom. The address of the registered office is given in the Company information page of these financial statements.

The principal activity of the Company is that of a holding and investment Company. The principal activity of the Group is that of a broker and lessor under finance loan arrangements.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.

The following principal accounting policies have been applied:

2.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2014.

2.3

GOING CONCERN

The directors have reviewed the levels of security held supporting the debtor book and are confident that it covers any risk of default and are confident that the Group will be able to operate for the foreseeable future. As such, they consider it appropriate for the financial statements to be prepared on a going concern basis.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

The company acts as either a lessor or lender under both finance lease and loan agreements. Amounts receivable are initially recognised in debtors at the present value of future rentals, discounted by the interest rate implicit to the lease.

Lease or loan payments received are apportioned between capital and interest, the interest element is recognised as revenue and the capital element reduces the amounts owed by the lessee or borrower. Both finance lease income and loan income is recognised within turnover at the date in which the rental falls due.

2.5

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 provided on the following basis:

Motor vehicles	-	25%	straight line
Fixtures and fittings	-	25%	straight line
Office equipment	-	25%	straight line
Computer equipment	-	25%	straight line

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 within 'administrative expenses' in the Consolidated statement of comprehensive income.

In accordance with applicable accounting standards, depreciation is not charged on freehold property where the value is expected to be maintained or appreciated over time. The carrying value of the property is reviewed periodically to ensure it reflects a true and fair representation of its worth.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.6

INVESTMENT PROPERTY

Investment property is held at fair value, determined annually by appropriate valuers and derived from current market rents and yields for comparable real estate. The carrying value is adjusted if necessary for any difference in the nature, location or condition of a specific asset. Changes in fair value are recognised in the Statement of income and retained earnings.

2.7

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

2.8

FINANCIAL INSTRUMENTS

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Statement of financial position when the Group 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

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

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

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.8

FINANCIAL INSTRUMENTS (CONTINUED)

the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.11

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.12

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.13

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.14

LEASED ASSETS: THE GROUP AS LESSOR

Where assets leased to a third party give rights approximating to ownership (finance lease), the lessor recognises as a receivable an amount equal to the net investment in the lease i.e. the minimum lease payments receivable under the lease discounted at the interest rate implicit in the lease. This receivable is reduced as the lessee makes capital payments over the term of the lease.

A finance lease gives rise to two types of income: profit or loss equivalent to the profit or loss resulting from outright sale of the asset being leased, at normal selling prices, reflecting any applicable discounts, and finance income over the lease term.

2.15

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

2.16

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.17

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.18

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.19

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

3.	JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key Accounting Estimates and Assumptions

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Management do not consider there to be estimates or assumptions that pose a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, other than those detailed below:

Impairment of own book debt
The Group assesses at each balance sheet date whether there is evidence that loan assets (own book debt) will not be recovered in full and, where necessary, recognises an impairment loss in the Statement of income and retained earnings. Such a loss is recognised on two bases:

Where a specific event has occurred that has adversely impacted the estimated future cash flows that will be received from a loan asset;

As a percentage of the entire population of the book balance based on the expected credit losses that will arise from that population at the balance sheet date. This calculation is based on past losses incurred and judgment of the director.

Valuation of investment properties
The Group assesses the carrying value of investment properties at each balance sheet date and makes adjustments to fair value when necessary.

The valuation of two investment properties represents a source of estimation uncertainty. The type and location of the property means there is little market data against which to benchmark the carrying value. As such, the Group makes regular use of an external valuer to ensure the estimate of carrying value remains appropriate.

TURNOVER

An analysis of turnover by class of business is as follows:
	2025	2024
	£	£

Interest income	17,134,482	18,566,942
Fee Income	5,980,644	4,323,317
Settlement surplus	9,087,795	9,347,944
Other Income	440,557	352,296
	32,643,478	32,590,499

All turnover arose within the United Kingdom.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Fees payable to the Group's auditor for the audit of the consolidated and subsidiary accounts

27,000

25,500

6.	EMPLOYEES
	Staff costs, including Director's remuneration, were as follows:

		Group	Group
		2025	2024
		£	£


Wages and salaries	1,908,395	1,939,588
Social security costs	245,240	214,197
Pension costs	31,311	31,963
	2,184,946	2,185,748

The average monthly number of employees, including the Director, during the year was as follows:

	2025	2024
	No.	No.

Management	3	3
Sales	16	17
Office	16	17

	35	37

The Company has no employees other than the Directors, who did not receive any remuneration (2024: £NIL)

DIRECTOR'S REMUNERATION

The total remuneration, including pension contributions, paid to the director of the company during the year amounted to £62,692 (2024: £62,692), this amount is paid by other companies within the group.

Directors of subsidiaries are considered key management personnel of the group. During the year, these individuals received remuneration including pension contributions of £414,264 (2024: £411,045).

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

8.	INTEREST RECEIVABLE
		2025	2024
		£	£

Other interest receivable

5,791

34,261

9.	INTEREST PAYABLE AND SIMILAR EXPENSES
		2025	2024
		£	£

	Bank interest payable	-	259
		-	259

CORPORATION TAX
Current tax on profits for the year	5,254,494	5,579,547
Adjustments in respect of previous periods	41,579	-

TOTAL CURRENT TAX	5,296,073	5,579,547

DEFERRED TAX
Origination and reversal of timing differences	(20,654)	(65,887)
Adjustments in respect of prior periods	16,563	-
TOTAL DEFERRED TAX	(4,091)	(65,887)


	TAXATION ON PROFIT ON ORDINARY ACTIVITIES	5,291,982	5,513,660

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

10.TAXATION (CONTINUED)

Profit on ordinary activities before tax

20,889,145

20,465,074

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024: 25%)	5,222,286	5,116,269
EFFECTS OF:
Expenses not deductible for tax purposes	4,326	461,682
Capital allowances for year in excess of depreciation	-	1,285
Utilisation of tax losses	-	(5,700)
Adjustments to brought forward values	1,448	-
Adjustments to tax charge in respect of prior periods	41,579	-
Adjustments in respect of prior periods (deferred tax)	16,563	-
Non-taxable income	-	(8,188)
Capital gains differences	139,095	(384,178)
Deferred tax not recognised	(133,315)	332,490
TOTAL TAX CHARGE FOR THE YEAR	5,291,982	5,513,660

FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

11.	DIVIDENDS
		2025	2024
		£	£

	Dividends paid	17,000,000	15,000,000
		17,000,000	15,000,000

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

12.	TANGIBLE FIXED ASSETS
	Group

	Freehold property	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£
COST OR VALUATION
At 1 January 2025	305,620	181,686	104,195	67,056	658,557
Additions	-	116,049	5,075	20,634	141,758
Disposals	-	(39,240)	-	-	(39,240)
At 31 December 2025	305,620	258,495	109,270	87,690	761,075
DEPRECIATION
At 1 January 2025	-	149,423	58,295	51,255	258,973
Charge for the year on owned assets	-	34,328	24,436	11,657	70,421
Disposals	-	(27,742)	-	-	(27,742)
At 31 December 2025	-	156,009	82,731	62,912	301,652
NET BOOK VALUE
At 31 December 2025	305,620	102,486	26,539	24,778	459,423
At 31 December 2024	305,620	32,263	45,900	15,801	399,584

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

	Company

	Freehold property	Motor vehicles	Total
	£	£	£
COST OR VALUATION
At 1 January 2025	305,620	96,481	402,101
Additions	-	97,878	97,878
At 31 December 2025	305,620	194,359	499,979
DEPRECIATION
At 1 January 2025	-	89,263	89,263
Charge for the year on owned assets	-	15,733	15,733
At 31 December 2025	-	104,996	104,996
NET BOOK VALUE
At 31 December 2025	305,620	89,363	394,983
At 31 December 2024	305,620	7,218	312,838

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

13.	FIXED ASSET INVESTMENTS

	Company

		Investments in subsidiary companies
		£
	COST OR VALUATION
	At 1 January 2025	20,000,100
	At 31 December 2025	20,000,100

	NET BOOK VALUE
	At 31 December 2025	20,000,100
	At 31 December 2024	20,000,100

SUBSIDIARY UNDERTAKINGS
The following were subsidiary undertakings of the Company:
Name	Class of shares	Holding

Nationwide Finance Limited	Ordinary	100%
Bluerock Secured Finance Limited	Ordinary	100%
Start Up Business Loans Limited	Ordinary	100%

The registered office of the above subsidiaries is the same as that of the Company.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

14.	INVESTMENT PROPERTY
	Group and Company

		Freehold investment property
		£
	VALUATION
	At 1 January 2025	3,760,641
	Additions at cost	1,899,567
	AT 31 DECEMBER 2025	5,660,208

The 2025 valuations were made by the director and an estate agent who are members of the Association of Internal Property Professionals (AIPP), on an open market value basis.

At 31 December 2025, the historical cost of the properties was £6,316,512 (2024: £4,834,126) and the historical net book value was £6,316,512 (2024: £4,834,126).

15.	DEBTORS
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

DUE AFTER MORE THAN ONE YEAR
Investment in finance lease, hire purchase and loan contracts	33,555,373	35,903,432	-	-
	33,555,373	35,903,432	-	-

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£

DUE WITHIN ONE YEAR
Trade debtors	2,536	64,345	-	45,787
Amounts owed by group undertakings	-	-	359,819	359,819
Other debtors	7,298	1,135	657	1,135
Prepayments and accrued income	64,695	33,509	436	418
Investment in finance lease, hire purchase and loan contracts	13,979,774	16,587,830	-	-
Deferred taxation	7,302	3,211	-	-
	14,061,605	16,690,030	360,912	407,159

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025


16.	HIRE PURCHASE, LOANS AND FINANCE LEASES
	Minimum payments fall due as follows:
		Group	Group
		2025	2024
		£	£

Within one year	28,046,934	31,431,785
Between 1-5 years	48,235,711	53,113,869
Over 5 years	270,687	93,661
	76,553,332	84,639,315


The present value of those future receivables is as follows:
	Group	Group
	2025	2024
	£	£


Within one year	14,027,964	15,855,773
Between 1-5 years	33,803,473	37,346,494
Over 5 years	229,265	85,080
	48,060,702	53,287,347

17.	CASH AND CASH EQUIVALENTS
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Cash at bank and in hand	5,699,015	7,591,751	643,202	301,565
	5,699,015	7,591,751	643,202	301,565

18.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		Group	As restated Group	Company	As restated Company
		2025	2024	2025	2024
		£	£	£	£

Shareholder loan	748,690	705,719	748,690	705,719
Trade creditors	870,588	1,009,662	451	60,669
Amounts owed to group undertakings	-	-	11,568,113	8,968,113
Corporation tax	754,494	3,819,694	-	-
Other taxation and social security	218,016	388,942	-	-
Other creditors	103,876	106,821	103,876	103,876
Accruals and deferred income	46,303	218,106	8,480	9,700
	2,741,967	6,248,944	12,429,610	9,848,077

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

19.	DEFERRED TAXATION
	Group

		2025
		£

	At beginning of year	3,211
	Credited to profit or loss	4,091
	AT END OF YEAR	7,302

Company

		2025

	AT END OF YEAR	-


		Group	Group
		2025	2024
		£	£

	Timing differences	7,302	3,211
		7,302	3,211

20.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

100,000 (2024: 100,000) Ordinary shares of £1.00 each	100,000	100,000

21.

RESERVES

Merger Reserve

This reserve represents the difference between the nominal value of shares issued on formation of the parent company and the assets transferred.

Profit and loss account

This reserve represents the distributable reserves of the group.

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

22.	PRIOR YEAR ADJUSTMENT

A prior year adjustment has been made to increase the payment of dividends to the shareholder to £15,000,000 from £7,800,000 in the year ended 31 December 2024. Such amounts were previously recognised within debtors and creditors. The impact on the prior year is debtors have been reduced by £15,000,000, creditors have been reduced by £7,800,000 with dividends paid increasing by £7,200,000. This has resulted in net assets as at 31 December 2024 decreasing by £7,200,000.

23.	PENSION COMMITMENTS

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £31,311 (2024:£31,963). Contributions totalling £NIL (2024: £2,945) were payable to the fund at the reporting date and are included in creditors.

24.

RELATED PARTY TRANSACTIONS

The Group and Company have taken advantage of exemptions under FRS 102 to not disclose transactions between companies where they are wholly owned members of the same group.

GROUP
During the year, the Group employed services amounting to £7,207,845 (2024: £5,899,230) from an entity under common control. At the year end, the group owed £617,855 (2024: £Nil) to this entity.

The total key management personnel remuneration of the Group, including pension contributions, is £414,264 (2024: £411,045).

COMPANY
During the year, the Company made sales amounting to £Nil (2024: £186,000) to an entity subject to common control. At the year end, the Company was owed £Nil (2024: £Nil) by this entity.

As at December 2025, included within creditors is a balance of £748,690 (2024: £705,719) due to the shareholder of the company.

25.	POST BALANCE SHEET EVENTS

There have been no significant events affecting the Group since the year end.

26.	CONTROLLING PARTY

The ultimate controlling party is Mr M Robbins.

27.	ANALYSIS OF NET DEBT

		At 1 January 2025	Cash flows	At 31 December 2025
		£	£	£

Cash at bank and in hand	7,591,751	(1,892,736)	5,699,015
Debt due within 1 year	(705,719)	(42,971)	(748,690)
	6,886,032	(1,935,707)	4,950,325

MONEYCORE ASSET MANAGEMENT LIMITED (FORMERLY GOLDMORE ASSET MANAGEMENT LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

27.ANALYSIS OF NET DEBT (CONTINUED)