MITHRASOL LTD

Company Registration Number:
12740704 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

MITHRASOL LTD

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

MITHRASOL LTD

Balance sheet

As at 31 December 2024


Notes
2024
2023


£
£
Called up share capital not paid: 1,110,001 20,126
Fixed assets
Intangible assets:   0 0
Investments: 3 4,735,025 4,628,944
Total fixed assets: 4,735,025 4,628,944
Current assets
Debtors: 4 9,706,039 6,439,157
Cash at bank and in hand: 451,919 19,966
Total current assets: 10,157,958 6,459,123
Creditors: amounts falling due within one year: 5 (83,197) (1,128,355)
Net current assets (liabilities): 10,074,761 5,330,768
Total assets less current liabilities: 15,919,787 9,979,838
Creditors: amounts falling due after more than one year: 6 (5,661,186) (870,000)
Total net assets (liabilities): 10,258,601 9,109,838
Capital and reserves
Called up share capital: 129,332 104,272
Share premium account: 12,757,229 10,322,840
Profit and loss account: (2,627,960) (1,317,274)
Shareholders funds: 10,258,601 9,109,838

The notes form part of these financial statements

MITHRASOL LTD

Balance sheet statements

For the year ending 31 December 2024 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 August 2025
and signed on behalf of the board by:

Name: Ethan Dempsey
Status: Director

The notes form part of these financial statements

MITHRASOL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

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

MITHRASOL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 2023
Average number of employees during the period 6 7

MITHRASOL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Fixed investments

Investments in subsidiary companies Cost or valuation Additions 106,082 At 31 December 2024 4,735,025 Cost or valuation Additions 2,441,728 At 31 December 2023 4,628,944

MITHRASOL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 6,566,141 5,789,580

MITHRASOL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due within one year note

2024 2023 Trade creditors 16,408 17,623 Short-term loan - 1,000,000 Provision for corporation tax 9,637 - Other taxation and social security 24,223 95,262 Other creditors 32,929 15,469 83,197 1,128,355

MITHRASOL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

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

Convertible loan notes 2024 £5,661,186 2023 £870,000 In March 2024 £4,439,638 was raised by the emission of unsecured convertible loan notes. The notes have an annual payment-in-kind coupon of 10% (payable in non-interest bearing CLNs), both of which are convertible into B shares. If not crystalisation event occurs, the loan note holders do not have the option of converting the loan notes and/or the interest into B shares until the instrument matures, until December 2028. At the year end an additional £351,548 of non-interest bearing CLNs has been recorded.

MITHRASOL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Loans to directors

Name of director receiving advance or credit: Ethan Dempsey
Description of the loan: The company increased the short-term loan to a director, for living expenses and school feels. Interest at the average rate of 4.10% (2023: 4.25%). The loan is repayable upon the sale of a significant asset belonging to the director.
£
Balance at 01 January 2024 54,664
Advances or credits made: 29,262
Balance at 31 December 2024 83,926