Everup Ltd

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2—4

Registered number: 12462608

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		982		628

			982		628
CURRENT ASSETS
Debtors	5	149,464		15,423
Cash at bank and in hand		236,787		46,065

		386,251		61,488
Creditors: Amounts Falling Due Within One Year	6	(96,977 )		(24,733 )

NET CURRENT ASSETS (LIABILITIES)			289,274		36,755

TOTAL ASSETS LESS CURRENT LIABILITIES			290,256		37,383

NET ASSETS			290,256		37,383

CAPITAL AND RESERVES
Called up share capital	7		195		170
Share premium account			2,580,253		2,081,125
Other reserves			377,171		49,556
Income Statement			(2,667,363 )		(2,093,468 )

SHAREHOLDERS' FUNDS			290,256		37,383

For the year ending 31 December 2024 the company was entitled to exemption from audit 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

G Caltabiano

Director

11th September 2025

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

Everup Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12462608 . The registered office is Arquen House 4-6 Spicer Street, St. Albans, AL3 4PQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

Company law required the Directors to prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Company will continue in business. After reviewing the projections and taking into account future financing needs, the support they have had from their shareholders, and talks with other potential investors, the Directors are satisfied that the Company has sufficient resources to continue in operational existence for the foreseeable future. For these reasons, they have adopted the going concern basis in preparing the financial statements.

Notwithstanding the above, given that the Company is still in its startup phase, it relies on securing additional capital to fund its operations, the expansion of the product suite and its planned growth. This indicates that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4. Tangible Fixed Assets and Depreciation

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is provided on the following basis:

Computer Equipment

Straight line for 3 years

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 in the statement of comprehensive income.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Tax is recognised in the statement of comprehensive income, 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 operates and generates income.

2.7. Share based payments

Where share options are granted to suppliers, the fair value of the options is charged to the income statement over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

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Everup Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 2)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	4,579
Additions	1,275

As at 31 December 2024	5,854

Depreciation
As at 1 January 2024	3,951
Provided during the period	921

As at 31 December 2024	4,872

Net Book Value
As at 31 December 2024	982

As at 1 January 2024	628

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	(10,823 )	-
Prepayments and accrued income	4,414	10,008
Other debtors	145,895	4,099
VAT	9,978	1,316

	149,464	15,423

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	15,032	175
Other creditors	54,467	22,314
Accruals and deferred income	27,478	2,244

	96,977	24,733

7. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
1,945,187 Ordinary Shares of £ 0.0001 each	195	170


Shares issued during the period:	£
245,434 Ordinary Shares of £ 0.0001 each	25

245,434 Ordinary shares of £0.0001 each were allotted as fully paid at a premium of £2.03 per share during the year.

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Everup Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Reserves

As at 31st December 2024, Other Reserves includes unexercised vested share options of £90,137 (2023: £49,556) held by suppliers with an exercise price of £0.01 per share.

9. Controlling Party

The company's controlling party is the directors, by virtue of their ownership of 52.24% of the issued share capital in the company.

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