Company No: 16303460 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

V A L Berman (Appointed 10 March 2025)

REGISTERED OFFICE	45 Gresham Street
	London
	EC2V 7BG
	United Kingdom

COMPANY NUMBER

16303460 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	103 Colmore Row
	Birmingham
	B3 3AG

	Note	31.03.2026
		€
Fixed assets
Investments	3	48,638,344
		48,638,344
Current assets
Debtors	4	119
Investments	5	170,000
Cash at bank and in hand		12,720
		182,839
Creditors: amounts falling due within one year	6	( 47,260,170)
Net current liabilities		(47,077,331)
Total assets less current liabilities		1,561,013
Net assets		1,561,013
Capital and reserves
Called-up share capital	7	119
Profit and loss account		1,560,894
Total shareholder's funds		1,561,013

For the financial period ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Pasadena Investments Limited (registered number: 16303460) were approved and authorised for issue by the Director on 02 September 2026. They were signed on its behalf by:

V A L Berman Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Pasadena Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 45 Gresham Street, London, EC2V 7BG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Pasadena Investments Limited is considered to be EUR as that is the currency of the primary economic environment in which the Company operates. The financial statements are presented in euros.

These financial statements are separate financial statements.

Going concern

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

The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and has concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

The Company's principal liability comprises an interest-free loan from the director and shareholder. The director has confirmed an intention to continue to provide financial support to the Company as required and is satisfied that the Company will be able to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.

Reporting period length

These financial statements cover the period from 10 March 2025 (date of incorporation) to 31 March 2026. This represents the company’s first accounting period and is longer than twelve months. Accordingly, no comparative amounts are shown.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.

Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

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.

2. Employees

	Period from 10.03.2025 to 31.03.2026
	Number
Monthly average number of persons employed by the Company during the period, including the director	1

3. Fixed asset investments

	Listed investments		Other investments		Total
	€		€		€
Cost or valuation before impairment
At 10 March 2025	0		0		0
Additions	1,416,116		47,250,000		48,666,116
Movement in fair value	( 27,772)		0		( 27,772)
At 31 March 2026	1,388,344		47,250,000		48,638,344
Carrying value at 31 March 2026	1,388,344		47,250,000		48,638,344

4. Debtors

	31.03.2026
	€
Other debtors	119

5. Current asset investments

	31.03.2026
	€
Short-term call deposit facility	170,000

6. Creditors: amounts falling due within one year

	31.03.2026
	€
Amounts owed to director	47,250,000
Accruals	10,170
	47,260,170

7. Called-up share capital

	31.03.2026
	€
Allotted, called-up and not yet paid
100 Ordinary shares of £ 1.00 each	119

8. Related party transactions

Transactions with the entity's director

On 17 March 2025, the director transferred 47,250 depositary receipts to the company at an agreed consideration of €47,250,000. The consideration was not settled in cash and was left outstanding as a loan from the director to the company.

At 31 March 2026, the balance due to the director was €47,250,000 and is included within other creditors due within one year. The loan is unsecured, interest-free and repayable on demand, subject to a minimum notice period of 30 days.