AQ CAPITAL MANAGEMENT UK LTD

Company Registration Number:
16163929 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2026

Period of accounts

Start date: 6 January 2025

End date: 31 January 2026

AQ CAPITAL MANAGEMENT UK LTD

Contents of the Financial Statements

for the Period Ended 31 January 2026

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

AQ CAPITAL MANAGEMENT UK LTD

Directors' report period ended 31 January 2026

The directors present their report with the financial statements of the company for the period ended 31 January 2026

Principal activities of the company

AQ Capital Management UK Ltd (trading as AQ Capital Management) was incorporated in England and Wales on 6 January 2025. This report covers the company's first accounting period, from 6 January 2025 to 31 January 2026. The company's principal activity is the provision of business consultancy services. It works with businesses and individuals, with a particular focus on the cryptocurrency and foreign exchange sectors, to identify operational and financial weaknesses, improve decision-making and increase profitability. During the period the company completed a paid consultancy engagement, and to build its reputation and track record it also provided support at no charge to four businesses and two individuals. Alongside its consultancy work, the company is engaged in the research and development of automated trading software. During the period it designed, built and completed its first automated trading program (an "Expert Advisor", or EA), and it made its first commercial licence sale to a UK-based customer. Development is continuing, with the aim of producing an automated trading system of the highest standard that incorporates artificial intelligence. The company uses its own funds to test and demonstrate its software under live market conditions. To support its cash flow and meet its operating costs, the company also carried out complementary trading activities during the period. It bought and sold five motor vehicles, all of which were sold before the period end, and it traded commodities through a regulated broker account funded by a short-term loan from a director. That loan was repaid in full, with interest, within the period. The company also holds Ethereum as a long-term treasury reserve, built up through regular monthly purchases. The company's operations are funded by private investors through classes of share that carry fixed returns and are repayable at the end of a three-year term, from 2028, together with the continuing financial support of its directors. No director received any remuneration during the period, and the directors have agreed not to draw salaries until the company is in a position to support them. The company aims to conduct its business in line with Islamic finance principles and reviews its activities regularly to ensure they remain consistent with those principles. It is committed to promoting financial literacy and to reporting openly and transparently on its own performance. The company's long-term objective is to develop into an investment fund. The managing director intends to obtain an independent financial adviser qualification, and the company plans to offer financial advisory services in future, subject to obtaining any necessary authorisation from the Financial Conduct Authority. Like many businesses in their first year, the company faced early operational challenges, including disruption to its original bank account and a change in the board of directors. Since then it has moved its banking to a new provider, strengthened its financial controls and record-keeping, and recovered the majority of the funds held in the original account. The directors are confident that these measures provide a sound foundation for the company's continued development.

Political and charitable donations

During the period the company made charitable donations totalling £1,506.77. These comprised a fixed donation of £1,200.00 together with a further £306.77, representing 2.5% of the company's pre-tax funds, in line with the directors' policy of setting aside a proportion of the company's resources for charitable purposes each year. The donations were applied directly to support vulnerable people, including families living in refugee camps and children in orphanages in Somalia. As the donations were made directly rather than through a UK-registered charity, they have been recognised in full as an expense in the profit and loss account and have not been claimed as a deduction for Corporation Tax purposes. Charitable giving forms part of the company's commitment to operating in line with Islamic finance principles and to making a positive social contribution. The directors intend to continue making charitable donations each year and, from the next accounting period, to make them through UK-registered charities, so that the company's giving is independently administered and fully documented. The company made no political donations and incurred no political expenditure during the period.

Company policy on disabled employees

The company has adopted a written policy on the employment of disabled persons, which is held with the company's records and reviewed by the board. The company is committed to equality of opportunity and to complying fully with its obligations under the Equality Act 2010. Under this policy, applications for employment from disabled persons are given full and fair consideration, having regard to the aptitudes and abilities of the individual concerned. Recruitment, selection and appointment decisions are based solely on merit and on the requirements of the role. Where an existing employee or director becomes disabled, the company will make every reasonable effort to ensure that their employment continues, including by making reasonable adjustments to their role, working arrangements, equipment and working environment, and by arranging any appropriate training. Disabled employees are given the same opportunities as other employees for training, career development and promotion. The company will make reasonable adjustments to support them in fulfilling their potential, and it does not tolerate discrimination, harassment or victimisation on the grounds of disability. During the period the company's only personnel were its directors, and no other staff were employed. The policy will apply in full to any future recruitment as the company grows.

Additional information

Review of the business and results for the period In its first accounting period the company achieved turnover of £79,318.75 and a gross profit of £14,033.75, with a further £5,000.00 of other operating income from commodities trading. After administrative expenses of £9,166.31 and an impairment charge of £7,218.49 reflecting the market value of its Ethereum holding at the period end, the company recorded an operating profit of £2,648.95. After interest payable of £7,222.50, comprising fixed returns accrued to investors and interest on a director's loan, the company recorded a loss for the period of £4,573.55. No Corporation Tax is payable for the period. At 31 January 2026 the company held cash at bank of £9,259.97 and Ethereum with a carrying value of £23,275.07, against creditors falling due within one year of £9,638.76. Amounts owed to investors of £28,922.50 are not repayable until 2028. Net assets at the period end were £95,426.45. Treasury reserve The company holds Ethereum as a long-term treasury reserve, acquired through regular monthly purchases. At 31 January 2026 the company held 13 ETH, stated in the accounts at cost less impairment of £23,275.07. At 23 October 2026 the company held 22 ETH, with a market value of approximately £39,190 at a price of £1,781.31 per ETH. The directors consider this reserve an important source of financial strength and flexibility for the company. Going concern The directors have carefully assessed the company's financial position, its forecast cash flows and its obligations for a period of at least twelve months from the date of approval of these financial statements. The company holds liquid assets in cash and Ethereum well in excess of its short-term liabilities, amounts owed to investors do not fall due until 2028, and the directors remain fully committed to providing financial support where needed. On this basis the directors are confident that the company will continue to meet its liabilities as they fall due, and the financial statements have been prepared on a going concern basis. Events after the reporting period Since the period end the company has issued its class E and F shares, continued its programme of monthly Ethereum purchases, and recovered further funds from its former bank account, of which £780 remains outstanding and is being actively pursued. In July 2026 the directors decided to pause the acceptance of new investment while the company consolidates its position and strengthens its structure for future growth. Dividends No dividends were declared or paid during the period. Statement of directors' responsibilities The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice, including FRS 102 Section 1A. The directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its profit or loss for the period. The directors are also responsible for keeping adequate accounting records, for safeguarding the assets of the company, and for taking reasonable steps to prevent and detect fraud and other irregularities. Small company provisions This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime.



Directors

The director shown below has held office during the period of
1 May 2025 to 31 January 2026

Ahkeem Alexander-Spencer

The directors shown below have held office during the whole of the period from
6 January 2025 to 31 January 2026

Arkan Ali Aqiil
 Henry Nwosu

The director shown below has held office during the period of
6 January 2025 to 27 June 2025

Subhash Chatterjee

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
22 October 2026

And signed on behalf of the board by:
Name: Arkan Ali Aqiil
Status: Director

AQ CAPITAL MANAGEMENT UK LTD

Profit And Loss Account

for the Period Ended 31 January 2026

13 months to 31 January 2026


£
Turnover: 79,319
Cost of sales: ( 65,285 )
Gross profit(or loss): 14,034
Distribution costs: 0
Administrative expenses: ( 16,385 )
Other operating income: 5,000
Operating profit(or loss): 2,649
Interest receivable and similar income: 0
Interest payable and similar charges: ( 7,223 )
Profit(or loss) before tax: (4,574)
Tax: 0
Profit(or loss) for the financial year: (4,574)

AQ CAPITAL MANAGEMENT UK LTD

Balance sheet

As at 31 January 2026

Notes 13 months to 31 January 2026


£
Called up share capital not paid: 99,506
Fixed assets
Intangible assets: 3 23,275
Tangible assets: 4 667
Investments:   0
Total fixed assets: 23,942
Current assets
Stocks:   0
Debtors: 5 1,280
Cash at bank and in hand: 9,260
Investments:   0
Total current assets: 10,540
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 6 ( 9,639 )
Net current assets (liabilities): 901
Total assets less current liabilities: 124,349
Creditors: amounts falling due after more than one year: 7 ( 28,923 )
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 95,426
Capital and reserves
Called up share capital: 100,000
Share premium account: 0
Other reserves: 0
Profit and loss account: (4,574 )
Total Shareholders' funds: 95,426

The notes form part of these financial statements

AQ CAPITAL MANAGEMENT UK LTD

Balance sheet statements

For the year ending 31 January 2026 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 23 October 2026
and signed on behalf of the board by:

Name: Arkan Ali Aqiil
Status: Director

The notes form part of these financial statements

AQ CAPITAL MANAGEMENT UK LTD

Notes to the Financial Statements

for the Period Ended 31 January 2026

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the fair value of the consideration received or receivable for services rendered, software licences granted and goods sold in the ordinary course of the company's business, net of trade discounts. The company is not registered for Value Added Tax, and turnover is therefore stated without VAT. All turnover arose in the United Kingdom. Consultancy services: turnover from consultancy services is recognised as the services are performed, by reference to the stage of completion of each engagement, provided that the amount of revenue can be measured reliably and it is probable that the company will receive the economic benefits of the transaction. Software licences: turnover from the licensing of the company's automated trading software is recognised when the licence is granted and the software is delivered to the customer, at which point the significant risks and rewards of the licence have passed to the customer and the company has no remaining material obligations. Sale of goods: turnover from the sale of motor vehicles is recognised when the significant risks and rewards of ownership have transferred to the buyer, which is normally on delivery of the vehicle and receipt of payment. Non-cash consideration: where consideration is received in the form of cryptoassets, turnover is measured at the fair value of the assets received, translated into pounds sterling at the market rate on the date of receipt. Other operating income: gains arising from the company's commodities trading activities do not form part of its principal activities and are recognised separately as other operating income when realised.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost comprises the purchase price of the asset together with any costs directly attributable to bringing it into working condition for its intended use. Depreciation is provided on all tangible fixed assets so as to write off the cost of each asset, less its estimated residual value, over its expected useful economic life, on the following basis: Office and computer equipment - 33.33% per annum on a straight-line basis (a useful life of three years). A full year's depreciation charge is made in the period in which an asset is acquired, and no charge is made in the period of disposal. The estimated residual value of the company's equipment is nil. The useful economic lives and residual values of assets are reviewed at each balance sheet date and adjusted where appropriate. Where there is an indication that the carrying amount of an asset may not be recoverable, it is reviewed for impairment and written down to its recoverable amount. On the disposal, loss or theft of an asset, its remaining carrying amount is written off, and any resulting gain or loss is recognised in the profit and loss account. Equipment lost through theft during the period has been written off in full.

    Intangible fixed assets amortisation policy

    Intangible fixed assets are stated at cost less accumulated amortisation and accumulated impairment losses. Cryptoassets: the company holds Ethereum as a long-term treasury reserve, and these holdings are classified as intangible fixed assets. They are measured initially at cost, including directly attributable transaction fees. Because an active market exists for these assets, their residual value is determined by reference to that market. Where the residual value equals or exceeds the carrying amount, no amortisation is charged. The holdings are reviewed for impairment at each balance sheet date by reference to their quoted market price in pounds sterling. Where the market value falls below cost, the carrying amount is written down to market value and the loss is recognised in the profit and loss account. At 31 January 2026 the holding was written down to its market value, and an impairment charge of £7,218.49 was recognised. An impairment loss is reversed only where the market value subsequently recovers, and only up to the original cost of the asset. Software development: expenditure on the research and development of the company's automated trading software is written off to the profit and loss account as incurred, as it does not yet meet the criteria for capitalisation as an intangible asset.

    Valuation information and policy

    Basis of preparation: these financial statements have been prepared under the historical cost convention, modified where required by the measurement of certain assets at market value, and in accordance with FRS 102 Section 1A (Small Entities) and the Companies Act 2006. They are presented in pounds sterling, which is the company's functional currency, and amounts are rounded to the nearest pound. They cover the company's first accounting period, which runs for 13 months from incorporation on 6 January 2025 to 31 January 2026, so no comparative figures are presented. Going concern: the financial statements have been prepared on a going concern basis. The directors have assessed the company's liquid resources, forecast cash flows and the timing of its obligations, and are satisfied that the company can meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements. Cryptoassets: cryptoassets are valued at the lower of cost and market value. Market value is determined using the quoted Ethereum to pounds sterling (ETH-GBP) price on a recognised exchange (Coinbase) at the balance sheet date. At 31 January 2026 the company's 13 ETH were valued at £1,790.39 per ETH, giving a carrying value of £23,275.07 against a cost of £30,493.56. Financial instruments: the company has only basic financial instruments. Debtors and creditors are measured at the transaction price, less any impairment in the case of debtors. Debtors are reviewed for recoverability at each balance sheet date, and amounts that are not expected to be recovered are written off; during the period a debt of £500 was written off. The class A to D shares issued to private investors carry fixed returns and an obligation on the company to repay the amounts invested at the end of a three-year term, from 2028. As the company cannot avoid these payments, the shares are classified as financial liabilities and measured at amortised cost, and the fixed returns accrued are recognised as interest payable. Foreign currency and digital consideration: transactions in foreign currencies, or settled in digital assets, are translated into pounds sterling at the rate on the date of the transaction. Taxation: current tax is provided at the amounts expected to be paid, using the tax rates and laws in force at the balance sheet date. Deferred tax assets arising from tax losses are not recognised, as there is insufficient certainty over their future recovery. Critical judgements and estimates: the principal judgements made by the directors relate to the classification of the class A to D shares as financial liabilities, the valuation of cryptoassets at the balance sheet date, and the recoverability of amounts owed to the company.

    Other accounting policies

    Stock: motor vehicles bought for resale are treated as stock and stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises the purchase price and any costs incurred in bringing the vehicle to a saleable condition. All vehicles bought during the period had been sold by 31 January 2026, and no stock was held at the period end. Cash at bank and in hand: cash comprises balances held in the company's business bank accounts and cash in hand, and is stated at its nominal value. Expenses and pre-trading costs: expenses are recognised in the profit and loss account on an accruals basis. Costs incurred in setting up the company and in the period before trading began are written off to the profit and loss account as incurred. Costs met by directors: where a director pays costs on the company's behalf from personal funds, the expense is recognised in the company's accounts and a corresponding amount is credited to that director's loan account. Director's loan account: amounts owed by the company to its directors are unsecured, interest-free unless otherwise agreed in writing, and repayable on demand. They are therefore classified as creditors falling due within one year. Interest payable: interest payable, including the fixed returns accrued to investors on the class A to D shares and interest on loans from directors, is recognised in the profit and loss account on an accruals basis in the period to which it relates. Returns accrue only on shares that have been fully paid up. Called up share capital not paid: amounts called up on shares but not yet paid by the shareholder are shown as an asset on the balance sheet, with the full nominal value of the shares shown within called up share capital. Charitable donations: charitable donations are recognised as an expense in the period in which they are paid. Directors' remuneration and employees: the company's only personnel during the period were its directors, none of whom received any remuneration. Where remuneration is paid in future, it will be recognised as an expense in the period in which the related service is provided.

AQ CAPITAL MANAGEMENT UK LTD

Notes to the Financial Statements

for the Period Ended 31 January 2026

  • 2. Employees

    13 months to 31 January 2026
    Average number of employees during the period 3

    The average number of persons employed by the company during the period, including directors, was 3. The calculation reflects the periods for which each director held office: Arkan Ali Aqiil and Henry Nwosu served throughout the period, Ahkeem Alexander-Spencer was appointed on 1 May 2025, and Subhash Chatterjee resigned on 27 June 2025. The company's only personnel during the period were its directors. No other staff were employed, and all of the company's operational, administrative and development work was carried out by the directors. No director received any remuneration, salary, bonus or benefits in kind from the company during the period, and no pension contributions were made on behalf of any director. The directors have agreed not to draw remuneration until the company is in a position to support it, which reflects their commitment to directing the company's resources towards its growth and its obligations to investors. The company has a written policy on the employment of disabled persons, as set out in the directors' report, which will apply in full to any future recruitment.

AQ CAPITAL MANAGEMENT UK LTD

Notes to the Financial Statements

for the Period Ended 31 January 2026

3. Intangible assets

Goodwill Other Total
Cost £ £ £
Additions 0 30,494 30,494
Disposals 0 0 0
Revaluations 0 0 0
Transfers 0 0 0
At 31 January 2026 0 30,494 30,494
Amortisation
Charge for year 0 0 0
On disposals 0 0 0
Other adjustments 0 7,219 7,219
At 31 January 2026 0 7,219 7,219
Net book value
At 31 January 2026 0 23,275 23,275

Intangible fixed assets comprise the company's holding of Ethereum (ETH), held as a long-term treasury reserve. During the period the company acquired 13 ETH through regular monthly purchases at a total cost of £30,493.56, including directly attributable transaction fees. No amortisation has been charged. The assets are traded on an active market, so their residual value is determined by reference to that market, and it is not lower than their carrying amount after impairment. At 31 January 2026 the holding was reviewed for impairment by reference to the quoted ETH-GBP market price on Coinbase of £1,790.39 per ETH, giving a market value of £23,275.07. An impairment charge of £7,218.49 (shown as £7,219 in the rounded table above) has been recognised within administrative expenses in the profit and loss account, reducing the carrying value of the holding to its market value. This impairment may be reversed in future periods if the market value recovers, up to the original cost of the assets. The company continued its programme of monthly purchases after the period end, and at 23 October 2026 it held 22 ETH. The company's holdings are held in a wallet in the company's name. The company's expenditure on developing its automated trading software has been written off as incurred and is not included within intangible assets.

AQ CAPITAL MANAGEMENT UK LTD

Notes to the Financial Statements

for the Period Ended 31 January 2026

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 0 0 0 1,950 0 1,950
Disposals 0 0 0 ( 950 ) 0 ( 950 )
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 January 2026 0 0 0 1,000 0 1,000
Depreciation
Charge for year 0 0 0 333 0 333
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 31 January 2026 0 0 0 333 0 333
Net book value
At 31 January 2026 0 0 0 667 0 667

Tangible fixed assets comprise office and computer equipment used in the operation of the company's business, consisting of an iPad, iPhones and AirPods acquired during the period at a total cost of £1,950. The equipment was purchased by a director on the company's behalf, and the cost has been credited to that director's loan account. During the period an iPhone with a cost of £700 and a pair of AirPods with a cost of £250, a total of £950, were stolen. These assets have been removed from the fixed asset register and their cost written off in full to the profit and loss account within administrative expenses. The remaining equipment, with a cost of £1,000, is depreciated on a straight-line basis over its estimated useful economic life of three years, in accordance with the company's accounting policy. A full year's depreciation charge of £333 (£333.33 before rounding) has been recognised for the period, giving a net book value of £667 at 31 January 2026. The company does not own any land, buildings, plant and machinery or motor vehicles held as fixed assets. Motor vehicles bought for resale during the period were treated as stock, and all had been sold by the period end.

AQ CAPITAL MANAGEMENT UK LTD

Notes to the Financial Statements

for the Period Ended 31 January 2026

5. Debtors

13 months to 31 January 2026
£
Trade debtors 0
Prepayments and accrued income 0
Other debtors 1,280
Total 1,280
Debtors due after more than one year: 0

Other debtors of £1,280 comprise an amount due from Subhash Chatterjee, a former director of the company, who resigned on 27 June 2025. During his tenure Mr Chatterjee administered the company's original business bank account. On the closure of that account he retained the closing balance of £7,823.61, which he agreed to repay to the company in full, together with interest at 8% per annum. By 31 January 2026, £6,543.61 had been repaid, leaving £1,280 outstanding at the balance sheet date. Since the period end a further £500 has been repaid, reducing the balance outstanding to £780. The directors are actively pursuing recovery of the remaining balance and consider it recoverable. The interest agreed has not been recognised as income in these financial statements, on the grounds of prudence, and will be recognised only when received. During the period a further amount of £500 owed to the company by a former investor was reviewed for recoverability and written off in full to the profit and loss account, as the directors do not expect it to be recovered. The company had no trade debtors and no prepayments or accrued income at the balance sheet date. All debtors fall due within one year.

AQ CAPITAL MANAGEMENT UK LTD

Notes to the Financial Statements

for the Period Ended 31 January 2026

6. Creditors: amounts falling due within one year note

13 months to 31 January 2026
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 0
Accruals and deferred income 0
Other creditors 9,639
Total 9,639

Other creditors falling due within one year comprise the following amounts: Director's loan account - £6,365.14 owed to Arkan Ali Aqiil, a director, in respect of company costs paid personally on the company's behalf, equipment purchased for the company, and pre-trading and set-up expenses, net of repayments made to him during the period. The balance is unsecured, interest-free and repayable on demand. A separate short-term loan of £20,000 made by the same director to fund the company's commodities trading was repaid in full during the period, together with agreed interest of £400. Amounts due to former and prospective investors - £3,033.63 in total. This comprises £2,473.63 due to a former investor who withdrew during the period, representing the return of capital together with accrued returns, on which interest at 8% per annum continues to accrue until settlement; £460.00 due to an individual whose investment did not proceed, comprising a refund of £356 together with compensation of £104; and £100.00 refundable to a further individual whose investment did not proceed. Amount due to a former director - £239.99 due to Subhash Chatterjee in respect of the company's virtual office fees for 2025, which he paid personally on the company's behalf. This amount is to be reimbursed to him. No amounts within creditors are secured on the assets of the company. The company had no bank borrowings, finance lease or hire purchase obligations, trade creditors or tax liabilities at the balance sheet date.

AQ CAPITAL MANAGEMENT UK LTD

Notes to the Financial Statements

for the Period Ended 31 January 2026

7. Creditors: amounts falling due after more than one year note

13 months to 31 January 2026
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Other creditors 28,923
Total 28,923

Other creditors falling due after more than one year comprise amounts due to the company's private investors, totalling £28,922.50: Class A to D investor shares - £22,100.00. The company has issued classes of share to private investors, each of whom is known personally to the directors. These shares carry fixed monthly returns and an obligation on the company to repay the amounts invested at the end of a three-year term, from 2028. As the company is unable to avoid these payments, the shares are classified as financial liabilities in accordance with FRS 102 Section 22, rather than as equity. The total includes £250.00 held by the company on behalf of two investors towards the purchase of further shares, which earns no return until a full share has been paid for. Accrued returns - £6,822.50. This represents the fixed returns accrued to investors from the date each share was fully paid up to 31 January 2026, comprising returns credited to investors' accounts to 31 December 2025 of £6,137.50 and returns for January 2026 of £685.00. Returns accrue only on shares that have been fully paid. The fixed monthly rates are 5.5% for class A, 4.5% for class B, 3.5% for class C and 2.5% for class D. The accrued returns have been credited to investors' accounts but not paid, and are payable together with the capital at the end of the term. These amounts are unsecured and are not repayable within one year of the balance sheet date. The directors intend to meet these obligations from the company's trading income and its treasury reserve of cryptoassets, and the directors have confirmed their commitment to supporting the company in doing so.

AQ CAPITAL MANAGEMENT UK LTD

Notes to the Financial Statements

for the Period Ended 31 January 2026

8. Financial Commitments

Commitments to investors: under the terms of its class A to D investor shares, the company is committed to paying fixed monthly returns on all fully paid shares and to repaying the amounts invested at the end of a three-year term, from 2028. At 31 January 2026 returns were accruing at approximately £685 per month on the shares then fully paid. Under its investor terms the company had also undertaken to issue loyalty (class E) and referral (class F) shares to qualifying investors, and these were issued after the period end, in February 2026. Amounts due to former investors: interest at 8% per annum continues to accrue on the amount of £2,473.63 due to a former investor until it is settled. Operating commitments: the company has an annual contract for virtual office services at its registered office, together with monthly subscriptions for business software, telecommunications and banking services, all of which are cancellable and are expensed as incurred. The company also operates a programme of regular monthly purchases of Ethereum for its treasury reserve. This programme is discretionary and can be paused or stopped at the directors' decision. Capital commitments: there were no capital commitments contracted for but not provided at 31 January 2026. Events after the reporting period: on 22 May 2026 the company completed the purchase of land to the rear of Thrybergh Hall Road, Rawmarsh, Rotherham, South Yorkshire, from Grainger Plc, for a consideration of £1,600 together with legal, registration and associated acquisition costs. The purchase was funded in full by Arkan Ali Aqiil, a director, and the total cost has been credited to his director's loan account. The land is held as a long-term investment, and the directors have no current plans for its development or disposal. As the transaction took place after the period end, it is not reflected in these financial statements and will be recognised as a fixed asset in the accounts for the following period. In July 2026 the directors decided to pause the acceptance of new investment while the company consolidates its position. Contingent liabilities: the company has treated the fixed returns on its class A to D shares as interest deductible for Corporation Tax purposes. If HM Revenue & Customs were to conclude that these returns are not deductible, additional Corporation Tax of approximately £587 would become payable. The company has the resources to settle this amount promptly should it arise. Guarantees: the company has given no guarantees, and no charges have been granted over its assets.

AQ CAPITAL MANAGEMENT UK LTD

Notes to the Financial Statements

for the Period Ended 31 January 2026

9. Loans to directors

No advances, credits or guarantees were made or given by the company to or on behalf of any director during the period, and no amounts were owed to the company by any director at the balance sheet date, other than unpaid share capital as set out below. Loans from directors: during the period Arkan Ali Aqiil, a director, paid company costs personally on the company's behalf, purchased equipment for the company, and met the company's pre-trading and set-up expenses. These amounts were credited to his director's loan account, against which repayments were made to him during the period. At 31 January 2026 the company owed him £6,365.14. The balance is unsecured, interest-free and repayable on demand, and is included within creditors falling due within one year. Separately, during the period Arkan Ali Aqiil made a short-term loan of £20,000 to the company to fund its commodities trading activities. The loan was repaid in full within the period, together with interest of £400, calculated at 8% per annum for three months. Unpaid share capital: at 31 January 2026, £99,506 remained unpaid on the 100 class X shares of £1,000 each held by Arkan Ali Aqiil, of which £494 had been paid. This amount is shown on the balance sheet as called up share capital not paid. Former director: at 31 January 2026, £1,280 was due to the company from Subhash Chatterjee, who resigned as a director on 27 June 2025, in respect of the closing balance of the company's former bank account, which he retained on its closure. This amount does not represent a loan made by the company to a director and is disclosed within other debtors. Since the period end, a further £500 has been repaid.