Company No: 15177829 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	S Kaur
	A Pannu

Registered office	9 Donnington Park
	85 Birdham Road
	Chichester
	PO20 7AJ
	United Kingdom

Company number

15177829 (England and Wales)

Accountant	Kreston Reeves LLP
	9 Donnington Park
	85 Birdham Road
	Chichester
	West Sussex
	PO20 7AJ

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Silver Aries Limited for the financial year ended 30 September 2025 which comprise the Balance Sheet and the related notes 1 to 7 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

This report is made solely to the Board of Directors of Silver Aries Limited, as a body, in accordance with the terms of our engagement letter dated 05 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Silver Aries Limited and state those matters that we have agreed to state to the Board of Directors of Silver Aries Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Silver Aries Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Silver Aries Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Silver Aries Limited. You consider that Silver Aries Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Silver Aries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kreston Reeves LLP

9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

21 October 2026

	Note	30.09.2025		30.09.2024
		£		£
Fixed assets
Investments	3	29		0
		29		0
Current assets
Debtors
- due within one year	4	2,253,602		3,767,112
- due after more than one year	4	11,393,924		7,924,497
Cash at bank and in hand		165,410		1,256,132
		13,812,936		12,947,741
Creditors: amounts falling due within one year	5	( 12,552,424)		( 11,802,250)
Net current assets		1,260,512		1,145,491
Total assets less current liabilities		1,260,541		1,145,491
Net assets		1,260,541		1,145,491
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		1,260,441		1,145,391
Total shareholders' funds		1,260,541		1,145,491

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge 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 Profit and Loss Account has not been delivered.

The financial statements of Silver Aries Limited (registered number: 15177829) were approved and authorised for issue by the Board of Directors on 21 October 2026. They were signed on its behalf by:

A Pannu Director

1. Accounting policies

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

General information and basis of accounting

Silver Aries 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 9 Donnington Park, 85 Birdham Road, Chichester, PO20 7AJ, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The Company's funds are principally invested in loans and are therefore not all immediately available as cash. The shareholders have confirmed their continued financial support of the Company and, accordingly, consider the going concern basis of preparation to be appropriate.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

The Company provides finance for property development and related activities. Interest income arising from loans advanced is recognised using the effective interest method over the term of the relevant agreements.

Interest income

Interest income is recognised in profit or loss using the effective interest method and is accrued on a time-apportioned basis by reference to the principal outstanding and the applicable interest rate.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Other debtors represent loans advanced in the course of the Company's financing activities. These balances are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method. The carrying value of the loans includes interest accrued in accordance with the terms of the relevant loan agreements, less any impairment losses where applicable.

Financial instruments

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

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	Year ended 30.09.2025		Period from 30.09.2023 to 30.09.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Fixed asset investments

	Investments in associates		Total
	£		£
Cost or valuation
At 01 October 2024	0		0
Additions	29		29
At 30 September 2025	29		29
Carrying value at 30 September 2025	29		29
Carrying value at 30 September 2024	0		0

4. Debtors

	30.09.2025		30.09.2024
	£		£
Debtors: amounts falling due within one year
Other debtors	2,253,602		3,767,112
Debtors: amounts falling due after more than one year
Other debtors	11,393,924		7,924,497

The other debtors relate to amounts recoverable from financing provided for property development and associated activities.

5. Creditors: amounts falling due within one year

	30.09.2025		30.09.2024
	£		£
Amounts owed to directors	11,547,970		11,315,953
Accruals	9,540		4,500
Corporation tax	433,667		381,797
Other creditors	561,247		100,000
	12,552,424		11,802,250

6. Called-up share capital

	30.09.2025		30.09.2024
	£		£
Allotted, called-up and fully-paid
10 A ordinary shares of £ 1.00 each	10		10
10 B ordinary shares of £ 1.00 each	10		10
20 C ordinary shares of £ 1.00 each	20		20
20 D ordinary shares of £ 1.00 each	20		20
20 E ordinary shares of £ 1.00 each	20		20
20 F ordinary shares of £ 1.00 each	20		20
	100		100

7. Related party transactions

Other related party transactions

**A S Pannu and S Kaur**
During the year, the Directors provided the Company with an interest-free loan, repayable on demand. All transactions during the year were conducted on an arm’s length basis. At the balance sheet date, the amount payable to the directors was £11,547,941 (2024: £11,315,953).

**Bentry Capital Limited**
(Related Company)
During the year, the company provided interest-bearing loans to Bentry Capital Limited, a related company. At the balance sheet date, the amount due from Bentry Capital Limited was £10,642,956 (2024: £9,270,884). Interest income of £1,297,942 (2024: £1,260,276) was recognised in the year in respect of these loans.

**Pangea International Limited**
(Related Company)
During the year, the company provided interest-bearing loans to Pangea International Limited, a related company. At the balance sheet date, the amount due from Pangea International Limited was £2,024,152 (2024: £1,914,652). Interest income of £234,836 (2024: £244,625) was recognised in the year in respect of these loans.

**Axiom IPS SRL**
(Related Company)
During the year, the company provided interest-bearing loans to Axiom IPS SRL, a wholly owned subsidiary of Axiom IPS Group Limited. At the balance sheet date, the amount due from Axiom IPS SRL was £124,015 (2024: £406,100). Interest income of £55,101 (2024: £21,100) was recognised during the year in respect of these loans.

**DNV Investments Limited**
(Related Company)
During the year, the company provided an interest free loan to DNV Investments Limited, a related company. At the balance sheet date, the amount due from DNV Investments Limited was £100,000 (2024: £100,000).

**Spectrum Squared Limited**
(Related Company)
During the year, the company provided interest-bearing loans to Spectrum Squared Limited, a related company. At the balance sheet date, the amount due from Spectrum Squared Limited was £1,795,350 2024: £Nil). Interest income of £240,295 (2024: £Nil) was recognised in the year in respect of these loans.

**Luminis Workforce Solutions Limited**
(Related Company)
During the year, the company provided interest-bearing loans to Luminis Workforce Solutions Limited, a related company. At the balance sheet date, the amount due from Luminis Workforce Solutions Limited was £404,762 2024: £Nil). Interest income of £4,762 (2024: £Nil) was recognised in the year in respect of these loans.