Company No: 13643899 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.08.2025		31.12.2024
		£		£
Current assets
Stocks	3	32,888,232		30,727,885
Debtors	4	2,271,155		1,603,258
Cash at bank and in hand		5,806		6,243
		35,165,193		32,337,386
Creditors: amounts falling due within one year	5	( 5,815,123)		( 17,027,995)
Net current assets		29,350,070		15,309,391
Total assets less current liabilities		29,350,070		15,309,391
Creditors: amounts falling due after more than one year	6	( 34,414,419)		( 16,025,869)
Net liabilities		( 5,064,349)		( 716,478)
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		( 5,064,449 )		( 716,578 )
Total shareholder's deficit		( 5,064,349)		( 716,478)

For the financial period ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Fusion Wood Green Propco Ltd (registered number: 13643899) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A H Cohen Director

04 November 2026

1. Accounting policies

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

General information and basis of accounting

Fusion Wood Green Propco Ltd (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 35 Ballards Lane, London, N3 1XW, United Kingdom.

The principal activity of the Company during the financial year was that of a property investment company.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The directors present a shorter period of account from 1 January 2025 to 31 August 2025. As such the comparatives for a whole year are not entirely comparable.

Change in accounting policies

During the year, the company changed its accounting policy in respect of borrowing costs. Previously, borrowing costs directly attributable to qualifying assets were capitalised as part of the cost of those assets. The company has elected to recognise borrowing costs as an expense in Statement of Income and Retained Earnings as incurred.

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.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

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 the Statement of profit and loss account.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

2. Employees

	Period from 01.01.2025 to 31.08.2025		Year ended 31.12.2024
	Number		Number
Monthly average number of persons employed by the company during the period, including directors	5		5

3. Stocks

	31.08.2025		31.12.2024
	£		£
Stocks	32,888,232		30,727,885

4. Debtors

	31.08.2025		31.12.2024
	£		£
Trade debtors	1,206,432		0
Amounts owed by group undertakings	0		30,950
Other debtors	1,064,723		1,572,308
	2,271,155		1,603,258

Amounts owed by group undertakings consist of intracompany loans which are unsecured, interest free and repayable on demand.

5. Creditors: amounts falling due within one year

	31.08.2025		31.12.2024
	£		£
Bank loans	0		15,442,697
Trade creditors	1,336,037		1,563,479
Amounts owed to group undertakings	4,383,434		0
Other creditors	95,652		21,819
	5,815,123		17,027,995

Amounts owed to group undertakings consist of intracompany loans which are unsecured, interest free and repayable on demand.

6. Creditors: amounts falling due after more than one year

	31.08.2025		31.12.2024
	£		£
Amounts owed to group undertakings	0		16,025,869
Other loans (secured)	34,414,419		0
	34,414,419		16,025,869

The other loans are secured by fixed and floating charges over the property and undertaking of the entity. The facility includes an interest margin on the development loan of 11.76%. The outstanding charge includes a negative pledge.

7. Called-up share capital

	31.08.2025		31.12.2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Ultimate controlling party

The parent undertaking is Fusion Global Investments Holdco Limited.

The registered office address is 35 Ballards Lane, London, N3 1XW.

The principal place of business is 20 Thayer Street, London W1U 2QN.