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REGISTERED NUMBER: 07302591 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SIBYLLINE LIMITED

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Director | 4 |

Report of the Independent Auditors | 6 |

Consolidated Income Statement | 10 |

Consolidated Other Comprehensive Income | 11 |

Consolidated Balance Sheet | 12 |

Company Balance Sheet | 13 |

Consolidated Statement of Changes in Equity | 14 |

Company Statement of Changes in Equity | 15 |

Consolidated Cash Flow Statement | 16 |

Notes to the Consolidated Cash Flow Statement | 17 |

Notes to the Consolidated Financial Statements | 19 |

SIBYLLINE LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTOR: | J T Crump

| REGISTERED OFFICE: | 90a High Street

| Berkhamsted

| Hertfordshire

| HP4 2BL

| REGISTERED NUMBER: | 07302591 (England and Wales)

| AUDITORS: | Ad Valorem Audit Services Limited

| Chartered Certified Accountants

| & Statutory Auditors

| 2 Manor Farm Court

| Old Wolverton Road

| Old Wolverton

| Milton Keynes

| Buckinghamshire

| MK12 5NN

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The director presents his strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

Through the expansion of services and addition of clients, the Group achieved 21% year-on-date sales growth, hitting turnover of £37,784,816 (2023 : £31,134,498). Operating profit has stayed consistent at 14% of turnover (2023 14%) and net profit pre-tax has increased to £5,091,884 (2023 : £4,211,496). The Group's balance sheet has strengthened with net current assets at £8,310,034 (2023 : £4,470,641) at 31 December 2024. The company has continued to prioritise its people and its customers, enhancing its reputation in the sector for delivering best in class customer service.

PRINCIPAL RISKS AND UNCERTAINTIES

The director continues to be responsible for identifying, managing and mitigating the risks and uncertainties that can affect the Group's long-term prospects. Process of risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to board approval and ongoing review by management. Compliance with regulation, legal and ethical standards is a high priority for the group and the compliance team, and the finance department take on an important oversight role in this regard.

The following principal risks to the on-going performance of the Group:

1. People

The Group's employees are its biggest asset in delivering first-class customer service. As such, hiring and retaining a committed and skilled workforce is a key risk to the business. To best mitigate the risk, the Group offers a rewarding remuneration structure, working environment and career pathway with training.

2. Customers

The Group mitigates customer risk by delivering best in class service. The Group has strong service delivery operations and performance metrics to ensure client needs are consistently met at a high standard. The Group also continues to diversify its service offering and client base to reduce reliance.

3. Competition

The Group faces risk from competition globally. The board constantly monitors the actions of competitors in order to be able to react quickly to changing conditions when necessary and continues to diversify on its service offering.

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

GOING CONCERN

The financial statements have been prepared on the going concern basis which the Director considers appropriate for the reasons outlined below. During the year, the Group's operations resulted in a pre-tax profit of £5,091,844 (2023 : £4,211,496). At the balance sheet date, it held cash of £4,998,209 (2023 : £2,076,538). The Group's cashflow has improved in 2024 through the expansion of revenue at an improved net profit margin. The Director has prepared cash flow forecasts for the period of at least 12 months from the date of approval of these financial statements, projecting that the Group's cash position will continue to enhance. The Director maintains a prudent investment approach to maintain a positive cashflow and ensure the Group can withstand any loss of significant clients.

ON BEHALF OF THE BOARD:

J T Crump - Director

15 September 2025

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

REPORT OF THE DIRECTOR

FOR THE YEAR ENDED 31 DECEMBER 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

Sibylline is a strategic advisory firm, dedicated to helping decision-makers identify opportunities and mitigate risks in their operating environments. Sibylline provide insight to support the resilience of staff, market access, assets, reputation, operations and technology. The Group supports clients through the provision of high-quality risk analysis, due diligence, threat monitoring, consultancy and embedded support services. There have been no significant changes in the group's principal activities in the period under review. The Director is not aware of any likely major changes in the group's principal activities in the next year.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTOR

J T Crump held office during the whole of the period from 1 January 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

REPORT OF THE DIRECTOR

FOR THE YEAR ENDED 31 DECEMBER 2024

AUDITORS

The auditors, Ad Valorem Audit Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J T Crump - Director

15 September 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

SIBYLLINE LIMITED

Opinion

We have audited the financial statements of Sibylline Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

SIBYLLINE LIMITED

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of director's remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

SIBYLLINE LIMITED

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In our process of identifying fraud risks we assessed events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud ("fraud risk factors") to determine how fraud risks are relevant to our audit. Based on the auditing standards we addressed two fraud risks that were relevant to our audit, in relation to revenue recognition and management override of controls. Based upon our analysis of fraud risk factors, we have not identified any additional fraud risks.

Our audit procedures included an evaluation of the design, implementation as well as the operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures, including detailed testing of high risk journal entries and procedures to satisfy ourselves that revenue has been properly recognised in the financial statements in accordance with financial reporting standards and the Company's accounting policies. Through these procedures, we did not identify any material actual or suspected incidences of fraud. We have evaluated facts and circumstances in order to assess laws and regulations relevant to the Company. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general and sector experience, through discussion with the Directors and other management (as required by auditing standards) and discussed with the Directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

SIBYLLINE LIMITED

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Company is subject to laws and regulations that directly affect the financial statements including taxation and financial reporting (including related company legislation) and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect:

- Employment legislation, reflecting the Company's workforce

- Health and safety regulation, reflecting the Company's production, distribution and operating processes

- Data privacy, reflecting the Company's management of personal and corporate data

Auditing standards limit the required audit procedures to identify non-compliance with these regulations to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures we did not identify any material actual or suspected non-compliance in any of the above areas.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Directors and other management are responsible for such internal control as the Directors and other management of the Company determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Zubair Arshad FCCA (Senior Statutory Auditor)

for and on behalf of Ad Valorem Audit Services Limited

Chartered Certified Accountants

& Statutory Auditors

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

16 September 2025

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

2024 | 2023 |

| Notes | £ | £

TURNOVER | 3 | 37,784,816 |  | 31,134,498 |  |

Cost of sales | 27,620,704 |  | 20,966,910 |  |

GROSS PROFIT | 10,164,112 |  | 10,167,588 |  |

Administrative expenses | 4,994,724 |  | 6,123,856 |  |

5,169,388 |  | 4,043,732 |  |

Other operating income | (3,665 | ) | 256,780 |  |

OPERATING PROFIT | 5 | 5,165,723 |  | 4,300,512 |  |

Interest receivable and similar income | 6 | 8,646 |  | 3,390 |  |

5,174,369 |  | 4,303,902 |  |

Interest payable and similar expenses | 7 | 82,525 |  | 92,406 |  |

PROFIT BEFORE TAXATION | 5,091,844 |  | 4,211,496 |  |

Tax on profit | 8 | 1,191,626 |  | 921,775 |  |

PROFIT FOR THE FINANCIAL YEAR | 3,900,218 |  | 3,289,721 |  |

Profit attributable to:

Owners of the parent | 3,900,218 |  | 3,289,721 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

CONSOLIDATED OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

2024 | 2023 |

| Notes | £ | £

PROFIT FOR THE YEAR | 3,900,218 |  | 3,289,721 |  |

OTHER COMPREHENSIVE INCOME |

Foreign exchange reserve | 39,595 |  | (39,595 | ) |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 39,595 |  | (39,595 | ) |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 3,939,813 |  | 3,250,126 |  |

Total comprehensive income attributable to:

Owners of the parent | 3,939,813 |  | 3,250,126 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

CONSOLIDATED BALANCE SHEET

31 DECEMBER 2024

2024 | 2023 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Intangible assets | 11 | 137,165 |  | 219,723 |  |

Tangible assets | 12 | 197,172 |  | 81,596 |  |

Investments | 13 | - |  | - |  |

334,337 |  | 301,319 |  |

CURRENT ASSETS

Debtors | 14 | 7,303,541 |  | 6,796,466 |  |

Cash at bank | 4,998,209 |  | 2,076,538 |  |

12,301,750 |  | 8,873,004 |  |

CREDITORS

Amounts falling due within one year | 15 | 3,991,716 |  | 4,402,363 |  |

NET CURRENT ASSETS | 8,310,034 |  | 4,470,641 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 8,644,371 |  | 4,771,960 |  |

CREDITORS

Amounts falling due after more than one year | 16 | (33,333 | ) | (129,970 | ) |

PROVISIONS FOR LIABILITIES | 19 | (48,781 | ) | (19,546 | ) |

NET ASSETS | 8,562,257 |  | 4,622,444 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 1,000 |  | 1,000 |  |

Foreign exchange reserve | - |  | (39,595 | ) |

Retained earnings | 8,561,257 |  | 4,661,039 |  |

SHAREHOLDERS' FUNDS | 8,562,257 |  | 4,622,444 |  |

The financial statements were approved by the director and authorised for issue on 15 September 2025 and were signed by:

J T Crump - Director

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

COMPANY BALANCE SHEET

31 DECEMBER 2024

2024 | 2023 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Intangible assets | 11 | 137,165 |  | 219,723 |  |

Tangible assets | 12 | 194,857 |  | 78,186 |  |

Investments | 13 | 2,934 |  | 2,267 |  |

334,956 |  | 300,176 |  |

CURRENT ASSETS

Debtors | 14 | 6,802,467 |  | 5,171,191 |  |

Cash at bank | 4,090,183 |  | 1,480,125 |  |

10,892,650 |  | 6,651,316 |  |

CREDITORS

Amounts falling due within one year | 15 | 3,797,678 |  | 2,930,699 |  |

NET CURRENT ASSETS | 7,094,972 |  | 3,720,617 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,429,928 |  | 4,020,793 |  |

CREDITORS

Amounts falling due after more than one year | 16 | (33,333 | ) | (129,970 | ) |

PROVISIONS FOR LIABILITIES | 19 | (48,781 | ) | (19,546 | ) |

NET ASSETS | 7,347,814 |  | 3,871,277 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 1,000 |  | 1,000 |  |

Retained earnings | 7,346,814 |  | 3,870,277 |  |

SHAREHOLDERS' FUNDS | 7,347,814 |  | 3,871,277 |  |

Company's profit for the financial year | 3,476,537 |  | 2,840,287 |  |

The financial statements were approved by the director and authorised for issue on 15 September 2025 and were signed by:

J T Crump - Director

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

Called up | Foreign |  |

share | Retained | exchange | Total |

capital | earnings | reserve | equity |

| £ | £ | £ | £

Balance at 1 January 2023 | 1,000 |  | 1,706,318 |  | - |  | 1,707,318 |  |

Changes in equity

Dividends | - |  | (335,000 | ) | - |  | (335,000 | ) |

Total comprehensive income | - |  | 3,289,721 |  | (39,595 | ) | 3,250,126 |  |

Balance at 31 December 2023 | 1,000 |  | 4,661,039 |  | (39,595 | ) | 4,622,444 |  |

Changes in equity

Total comprehensive income | - |  | 3,900,218 |  | 39,595 |  | 3,939,813 |  |

Balance at 31 December 2024 | 1,000 |  | 8,561,257 |  | - |  | 8,562,257 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

Called up |  |

share | Retained | Total |

capital | earnings | equity |

| £ | £ | £

Balance at 1 January 2023 | 1,000 |  | 1,364,990 |  | 1,365,990 |  |

Changes in equity

Dividends | - |  | (335,000 | ) | (335,000 | ) |

Total comprehensive income | - |  | 2,840,287 |  | 2,840,287 |  |

Balance at 31 December 2023 | 1,000 |  | 3,870,277 |  | 3,871,277 |  |

Changes in equity

Total comprehensive income | - |  | 3,476,537 |  | 3,476,537 |  |

Balance at 31 December 2024 | 1,000 |  | 7,346,814 |  | 7,347,814 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

2024 | 2023 |

| Notes | £ | £

Cash flows from operating activities

Cash generated from operations | 1 | 5,155,350 |  | 1,193,132 |  |

Interest paid | (82,525 | ) | (30,100 | ) |

Finance costs paid | - |  | (62,306 | ) |

Tax paid | (916,695 | ) | (25,325 | ) |

Net cash from operating activities | 4,156,130 |  | 1,075,401 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (183,201 | ) | (39,468 | ) |

Sale of tangible fixed assets | 500 |  | - |  |

Interest received | 8,646 |  | 3,390 |  |

Net cash from investing activities | (174,055 | ) | (36,078 | ) |

Cash flows from financing activities

Capital repayments in year | (60,404 | ) | (95,243 | ) |

Amount introduced by directors | (200 | ) | 334 |  |

Amount withdrawn by directors | (999,800 | ) | - |  |

Equity dividends paid | - |  | (335,000 | ) |

Net cash from financing activities | (1,060,404 | ) | (429,909 | ) |

Increase in cash and cash equivalents | 2,921,671 |  | 609,414 |  |

Cash and cash equivalents at beginning of year | 2 | 2,076,538 |  | 1,467,124 |  |

Cash and cash equivalents at end of year | 2 | 4,998,209 |  | 2,076,538 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 | 2023 |

| £ | £

| Profit before taxation | 5,091,844 |  | 4,211,496 |  |

| Depreciation charges | 66,938 |  | 39,141 |  |

| Loss on disposal of fixed assets | 187 |  | - |  |

| Foreign exchange reserve | 39,595 |  | (39,595 | ) |

| Amortisation charges | 82,558 |  | 82,558 |  |

| Finance costs | 82,525 |  | 92,406 |  |

| Finance income | (8,646 | ) | (3,390 | ) |

5,355,001 |  | 4,382,616 |  |

| Decrease/(increase) in trade and other debtors | 829,978 |  | (4,888,424 | ) |

| (Decrease)/increase in trade and other creditors | (1,029,629 | ) | 1,698,940 |  |

| Cash generated from operations | 5,155,350 |  | 1,193,132 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 December 2024

| 31/12/24 |  | 1/1/24

| £ | £

| Cash and cash equivalents | 4,998,209 |  | 2,076,538 |  |

| Year ended 31 December 2023

| 31/12/23 |  | 1/1/23

| £ | £

| Cash and cash equivalents | 2,076,538 |  | 1,467,124 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/1/24 | Cash flow | At 31/12/24

| £ | £ | £

| Net cash |

| Cash at bank | 2,076,538 |  | 2,921,671 |  | 4,998,209 |  |

2,076,538 |  | 2,921,671 |  | 4,998,209 |  |

| Debt

| Finance leases | (42,509 | ) | 10,404 |  | (32,105 | ) |

| Debts falling due within 1 year | (50,000 | ) | - |  | (50,000 | ) |

| Debts falling due after 1 year | (83,333 | ) | 50,000 |  | (33,333 | ) |

(175,842 | ) | 60,404 |  | (115,438 | ) |

| Total | 1,900,696 |  | 2,982,075 |  | 4,882,771 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Sibylline Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. | ACCOUNTING POLICIES

| BASIS OF PREPARING THE FINANCIAL STATEMENTS

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

| BASIS OF CONSOLIDATION

| The consolidated financial statements represent the results of the Group and its subsidiaries as if they form a single entity. Intercompany transactions and balances between group companies are eliminated in full.

| The results of subsidiaries and associated undertakings sold or acquired during the period are included up to, or from, the dates that control passes.

| In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.

| No Statement of Comprehensive Income is included for the company as permitted by Section 408 of the Companies Act 2006.

| SIGNIFICANT JUDGEMENTS AND ESTIMATES

| In preparing the financial statements, the Directors are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the Directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

| TURNOVER

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

| GOODWILL

| Goodwill represents the excess of cost of acquisition over the fair value of the separable net assets of the business acquired.

| The goodwill arising on consolidation has been capitalised as an intangible asset and is being written off over twenty years. Provision is made for any impairment.

| INTANGIBLE ASSETS

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| TANGIBLE FIXED ASSETS

| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

| Office equipment |  | 4 Years Straight Line |  |

| Motor vehicles |  | 4 Years Straight Line |  |

| Fixtures and fittings |  | 4 Years Straight Line |  |

| Computer equipment |  | 4 Years Straight Line |  |

| FINANCIAL INSTRUMENTS

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with 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.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

| Classification of financial liabilities

| 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.

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 greater than one year are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| TAXATION

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| DEFERRED TAX

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| HIRE PURCHASE AND LEASING COMMITMENTS

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

| LOANS AND BORROWINGS

| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

| INVESTMENTS

| Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by class of business is given below:

2024 | 2023 |

| £ | £

| Embed | 34,059,106 |  | 27,258,250 |  |

| Consultancy & Training | 805,838 |  | 1,497,474 |  |

| Global Intelligence | 2,774,528 |  | 2,217,325 |  |

| Business Insights | 145,344 |  | 161,449 |  |

37,784,816 |  | 31,134,498 |  |

4. | EMPLOYEES AND DIRECTORS

2024 | 2023 |

| £ | £

| Wages and salaries | 24,252,451 |  | 21,189,020 |  |

| Social security costs | 3,396,363 |  | 1,636,688 |  |

| Other pension costs | 890,021 |  | 1,383,293 |  |

28,538,835 |  | 24,209,001 |  |

| The average number of employees during the year was as follows:

2024 | 2023 |

| Employees | 445 |  | 386 |  |

| During the period there was no salary payment to the director.

5. | OPERATING PROFIT

| Included in Profit and Loss before Taxation are the following:

|  | 2024 |  |  | 2023 |

|  | £ |  |  | £ |

| Depreciation |  |  | 65,843 |  |  | 39,157 |

| Amortisation |  |  | 82,558 |  |  | 82,558 |

| Other operating leases |  |  | 7,341 |  |  | 7,865 |

| Auditor's remuneration |  |  | 15,875 |  |  | 15,875 |

|  | 171,617 |  |  | 145,455 |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

6. | INTEREST RECEIVABLE AND SIMILAR INCOME |

|  | 2024 |  |  | 2023 |

|  | £ |  |  | £ |

| Bank interest |  |  | 8,646 |  |  | 3,390 |

|  | 8,646 |  |  | 3,390 |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

|  | 2024 |  |  | 2023 |

|  | £ |  |  | £ |

| On bank loans, overdrafts and other loans |  |  | 82,525 |  |  | 92,406 |

|  | 82,525 |  |  | 92,406 |

8. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

2024 | 2023 |

| £ | £

| Current tax:

| UK corporation tax | 1,066,139 |  | 875,549 |  |

| US tax charge | 165,597 |  | 105,107 |  |

| Brazil tax charge | 17,390 |  | 19,820 |  |

| Adjustments in respect of prior period | (86,735 | ) | (82,967 | ) |

| Total current tax | 1,162,391 |  | 917,509 |  |

| Deferred tax | 29,235 |  | 4,266 |  |

| Tax on profit | 1,191,626 |  | 921,775 |  |

| UK corporation tax has been charged at 25 % (2023 - 23.50 %).

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

8. | TAXATION - continued

| RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 | 2023 |

| £ | £

| Profit before tax | 5,091,844 |  | 4,211,496 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 23.500 %) | 1,272,961 |  | 989,702 |  |

| Effects of:

| Expenses not deductible for tax purposes | 9,182 |  | - |  |

| Depreciation in excess of capital allowances | 47,691 |  | - |  |

| Utilisation of tax losses | - |  | (5,553 | ) |

| Other adjustments | (124,522 | ) | 16,327 |  |

| Deferred taxation | 29,235 |  | 4,266 |  |

| R&D tax credit | (42,921 | ) | (82,967 | ) |

| Total tax charge | 1,191,626 |  | 921,775 |  |

| Tax effects relating to effects of other comprehensive income |

2024 |

| Gross |  | Tax |  | Net |

| £ | £ | £

| Foreign exchange reserve | 39,595 |  | - |  | 39,595 |  |

2023 |

| Gross |  | Tax |  | Net |

| £ | £ | £

| Foreign exchange reserve | (39,595 | ) | - |  | (39,595 | ) |

9. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

10. | DIVIDENDS

2024 | 2023 |

| £ | £

| 'A' Ordinary shares of £1 each

| Final | - |  | 335,000 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

11. | INTANGIBLE FIXED ASSETS

| Group

Goodwill |

| £

| COST

| At 1 January 2024

| and 31 December 2024 | 438,502 |  |

| AMORTISATION

| At 1 January 2024 | 218,779 |  |

| Amortisation for year | 82,558 |  |

| At 31 December 2024 | 301,337 |  |

| NET BOOK VALUE

| At 31 December 2024 | 137,165 |  |

| At 31 December 2023 | 219,723 |  |

| Company

Goodwill |

| £

| COST

| At 1 January 2024

| and 31 December 2024 | 438,502 |  |

| AMORTISATION

| At 1 January 2024 | 218,779 |  |

| Amortisation for year | 82,558 |  |

| At 31 December 2024 | 301,337 |  |

| NET BOOK VALUE

| At 31 December 2024 | 137,165 |  |

| At 31 December 2023 | 219,723 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

12. | TANGIBLE FIXED ASSETS

| Group

Fixtures |

and | Motor | Computer |

fittings | vehicles | equipment | Totals |

| £ | £ | £ | £

| COST

| At 1 January 2024 | 17,005 |  | 74,388 |  | 98,925 |  | 190,318 |  |

| Additions | 19,135 |  | 100,490 |  | 63,576 |  | 183,201 |  |

| Disposals | - |  | - |  | (1,029 | ) | (1,029 | ) |

| At 31 December 2024 | 36,140 |  | 174,878 |  | 161,472 |  | 372,490 |  |

| DEPRECIATION

| At 1 January 2024 | 8,350 |  | 49,592 |  | 50,780 |  | 108,722 |  |

| Charge for year | 4,285 |  | 37,439 |  | 25,214 |  | 66,938 |  |

| Eliminated on disposal | - |  | - |  | (342 | ) | (342 | ) |

| At 31 December 2024 | 12,635 |  | 87,031 |  | 75,652 |  | 175,318 |  |

| NET BOOK VALUE

| At 31 December 2024 | 23,505 |  | 87,847 |  | 85,820 |  | 197,172 |  |

| At 31 December 2023 | 8,655 |  | 24,796 |  | 48,145 |  | 81,596 |  |

| Company

Fixtures |

and | Motor | Computer |

fittings | vehicles | equipment | Totals |

| £ | £ | £ | £

| COST

| At 1 January 2024 | 17,005 |  | 74,388 |  | 94,231 |  | 185,624 |  |

| Additions | 19,135 |  | 100,490 |  | 63,576 |  | 183,201 |  |

| Disposals | - |  | - |  | (1,029 | ) | (1,029 | ) |

| At 31 December 2024 | 36,140 |  | 174,878 |  | 156,778 |  | 367,796 |  |

| DEPRECIATION

| At 1 January 2024 | 8,350 |  | 49,592 |  | 49,496 |  | 107,438 |  |

| Charge for year | 4,285 |  | 37,439 |  | 24,119 |  | 65,843 |  |

| Eliminated on disposal | - |  | - |  | (342 | ) | (342 | ) |

| At 31 December 2024 | 12,635 |  | 87,031 |  | 73,273 |  | 172,939 |  |

| NET BOOK VALUE

| At 31 December 2024 | 23,505 |  | 87,847 |  | 83,505 |  | 194,857 |  |

| At 31 December 2023 | 8,655 |  | 24,796 |  | 44,735 |  | 78,186 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

13. | FIXED ASSET INVESTMENTS

| The company owns more than 20% of the issued share capital or control of the following unlisted companies

| % of |  |

| ordinary |  |

| shares |  |

| Company |  |  | held |  | Activity |  |

| Sibylline Americas Inc |  |  | 100 |  | Strategic Advisory Services |  |

| Sibylline Asia PTE Ltd |  |  | 100 |  | Strategic Advisory Services |  |

| Sibylline Brasil Consultoria Ltd |  |  | 50 |  | Strategic Advisory Services |  |

| Sibylline Europe Ltd |  |  | 100 |  | Strategic Advisory Services |  |

| Sibylline Americas Inc is incorporated and registered in the United States of America.

| Sibylline Asia PTE Ltd is incorporated and registered in Singapore.

| Sibylline Brasil Consultoria Ltd is incorporated and registered in Brazil.

| Sibylline Europe Ltd is incorporated and registered in Ireland.

| All the above subsidiaries are included in the consolidated accounts.

14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

| £ | £ | £ | £

| Trade debtors | 3,642,994 |  | 4,582,129 |  | 2,832,899 |  | 2,844,324 |  |

| Amounts owed by group undertakings | - |  | - |  | 551,377 |  | 500,116 |  |

| Amounts owed by associates | - |  | 9,869 |  | - |  | 9,869 |  |

| Other debtors | 80,016 |  | 54,736 |  | 76,654 |  | 53,883 |  |

| Directors' current accounts | 999,666 |  | - |  | 999,666 |  | - |  |

| Tax | 337,387 |  | - |  | 337,387 |  | - |  |

| Prepayments and accrued income | 2,243,478 |  | 2,149,732 |  | 2,004,484 |  | 1,762,999 |  |

7,303,541 |  | 6,796,466 |  | 6,802,467 |  | 5,171,191 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

| £ | £ | £ | £

| Bank loans and overdrafts (see note 17) | 50,000 |  | 50,000 |  | 50,000 |  | 50,000 |  |

| Hire purchase contracts (see note 18) | 32,105 |  | 10,405 |  | 32,105 |  | 10,405 |  |

| Trade creditors | 284,745 |  | 277,542 |  | 227,852 |  | 133,150 |  |

| Amounts owed to group undertakings | - |  | - |  | 695,212 |  | - |  |

| Amounts owed to participating interests | - |  | - |  | - |  | 209,282 |  |

| Tax | 1,564,899 |  | 981,816 |  | 1,567,200 |  | 875,549 |  |

| Social security and other taxes | 292,046 |  | 379,807 |  | 205,270 |  | 148,197 |  |

| VAT | 92,691 |  | 146,885 |  | 69,966 |  | 144,987 |  |

| Other creditors | 147,751 |  | 252,779 |  | 80,824 |  | 135,198 |  |

| Pension payable | 126,306 |  | 19,698 |  | 28,184 |  | 19,698 |  |

| Wages Payable | 196,531 |  | 594,273 |  | - |  | - |  |

| Directors' current accounts | - |  | 334 |  | - |  | 334 |  |

| Accruals and deferred income | 1,204,642 |  | 1,688,824 |  | 841,065 |  | 1,203,899 |  |

3,991,716 |  | 4,402,363 |  | 3,797,678 |  | 2,930,699 |  |

16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

| £ | £ | £ | £

| Bank loans (see note 17) | 33,333 |  | 83,333 |  | 33,333 |  | 83,333 |  |

| Hire purchase contracts (see note 18) | - |  | 32,104 |  | - |  | 32,104 |  |

| Other creditors | - |  | 14,533 |  | - |  | 14,533 |  |

33,333 |  | 129,970 |  | 33,333 |  | 129,970 |  |

17. | LOANS

| An analysis of the maturity of loans is given below:

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

| £ | £ | £ | £

| Amounts falling due within one year or | on demand: |

| Bank loans | 50,000 |  | 50,000 |  | 50,000 |  | 50,000 |  |

| Amounts falling due between one and | two years: |

| Bank loans - 1-2 years | 33,333 |  | 50,000 |  | 33,333 |  | 50,000 |  |

| Amounts falling due between two and | five years: |

| Bank loans - 2-5 years | - |  | 33,333 |  | - |  | 33,333 |  |

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

18. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2024 | 2023 |

| £ | £

| Net obligations repayable:

| Within one year | 32,105 |  | 10,405 |  |

| Between one and five years | - |  | 32,104 |  |

32,105 |  | 42,509 |  |

| Company

| Hire purchase |

| contracts |

2024 | 2023 |

| £ | £

| Net obligations repayable:

| Within one year | 32,105 |  | 10,405 |  |

| Between one and five years | - |  | 32,104 |  |

32,105 |  | 42,509 |  |

19. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

| £ | £ | £ | £

| Deferred tax | 48,781 |  | 19,546 |  | 48,781 |  | 19,546 |  |

| Group

Deferred tax |

| £

| Balance at 1 January 2024 | 19,546 |  |

| Provided during year | 29,235 |  |

| Balance at 31 December 2024 | 48,781 |  |

| Company

Deferred tax |

| £

| Balance at 1 January 2024 | 19,546 |  |

| Provided during year | 29,235 |  |

| Balance at 31 December 2024 | 48,781 |  |

| These all relate to accelerated capital allowances.

SIBYLLINE LIMITED (REGISTERED NUMBER: 07302591)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

20. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

value: |  | £ | £

| 1,000 | 'A' Ordinary | £1 | 1,000 |  | 1,000 |  |

21. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 | 2023 |

| £ | £

| J T Crump

| Balance outstanding at start of year | - |  | - |  |

| Amounts advanced | 999,666 |  | - |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 999,666 |  | - |  |

| The loan is unsecured and has no set repayment terms.

22. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| The company made payments to Equestris Ferrata Ltd of £286,955 (2023: £288,129).

| Key management personnel compensation in the period amounted to £529,262 (2023: £432,522)

23. | ULTIMATE CONTROLLING PARTY

| The controlling party is J T Crump.