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REGISTERED NUMBER: 10821006 (England and Wales)

Financial Statements for the Year Ended 30 June 2025

for

CreDec Limited

| CreDec Limited (Registered number: 10821006) |

Contents of the Financial Statements

for the Year Ended 30 June 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| CreDec Limited |

Company Information

for the Year Ended 30 June 2025

| DIRECTORS: | Mr C F Eadie

| Mr A M Meynell

| REGISTERED OFFICE: | 22 Baker Street

| London

| W1U 3BW

| REGISTERED NUMBER: | 10821006 (England and Wales)

| AUDITORS: | DUX Advisory Limited

| Chartered Accountants and

| Statutory Auditors

| Kennel Club House

| Gatehouse Way

| Aylesbury

| Buckinghamshire

| HP19 8DB

| CreDec Limited (Registered number: 10821006) |

Balance Sheet

30 June 2025

| 30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 20,471 |  | 27,295 |  |

CURRENT ASSETS

Debtors | 5 | 115,408 |  | 20,704 |  |

Cash at bank | 99,944 |  | 219,801 |  |

215,352 |  | 240,505 |  |

CREDITORS

Amounts falling due within one year | 6 | 146,382 |  | 149,371 |  |

NET CURRENT ASSETS | 68,970 |  | 91,134 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 89,441 |  | 118,429 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 1,110,731 |  | 1,110,731 |  |

Retained earnings | (1,021,290 | ) | (992,302 | ) |

SHAREHOLDERS' FUNDS | 89,441 |  | 118,429 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2025 and were signed on its behalf by:

Mr A M Meynell - Director

| CreDec Limited (Registered number: 10821006) |

Notes to the Financial Statements

for the Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| CreDec 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The presentation currency is £ sterling which is the functional currency of the company and rounded to the nearest £.

| Going concern

| The directors have prepared and reviewed budgets and cashflows for a period of over 12 months from the date of signing based on the group's current position and the successful completion of its technology and infrastructure. They have reviewed a number of sensitivities that include no further capital investment and slower organic growth. This review assessed future cashflows, known potential customer journeys and the developing marketing pipeline enquiries that continue to grow and, in making their assessment, have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

| Significant judgements and estimates

| In preparing the financial statements it is necessary to make certain judgements, estimates and assumptions that effect the amounts recognised in the financial statements. These assumptions are reassessed annually as part of the accounts preparation process.

| In the view of the directors applying the accounting policies adopted, judgements were required in assessing the write off of product development that have an effect on the amounts recognised in the annual report and accounts but these are in line with the expectation supported by independent third party assurance of the business's technology recognising further investment is required to adapt it for multiple or alternative use. Judgement is also required here to evaluate the assessment by the board that the product is scalable or saleable in future financial years which further underpins its assessment as a going concern.

| Turnover

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

| Turnover is based on the provision of services to its parent company on a cost plus basis per transaction as agreed.

| Tangible fixed assets

| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery - 25% on reducing balance

| CreDec Limited (Registered number: 10821006) |

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Financial instruments at amortised cost

| The company trade debtor and creditor balances are measured at amortised cost taking into account bad debt provisions or write offs respectively.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

| Cash and cash equivalents

| Cash is represented by cash in hand and deposits with financial institutions. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to known amounts of cash.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

| CreDec Limited (Registered number: 10821006) |

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 July 2024

| and 30 June 2025 | 153,000 |  |

| DEPRECIATION

| At 1 July 2024 | 125,705 |  |

| Charge for year | 6,824 |  |

| At 30 June 2025 | 132,529 |  |

| NET BOOK VALUE

| At 30 June 2025 | 20,471 |  |

| At 30 June 2024 | 27,295 |  |

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

| 30.6.25 |  | 30.6.24

£ | £ |

| Amounts owed by group undertakings | 104,194 |  | 7,084 |  |

| Other debtors | - |  | 2,565 |  |

| Prepayments and accrued income | 11,214 |  | 11,055 |  |

115,408 |  | 20,704 |  |

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

| 30.6.25 |  | 30.6.24

£ | £ |

| Trade creditors | 120,570 |  | 130,456 |  |

| VAT | 6,252 |  | - |  |

| Accrued expenses | 19,560 |  | 18,915 |  |

146,382 |  | 149,371 |  |

7. | SECURED DEBTS

| There is a fixed charge with the Governor and Company of the Bank of England as Security Trustee over the present and future assets of the company for payments of all the secured liabilities.

| CreDec Limited (Registered number: 10821006) |

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.6.25 |  | 30.6.24

| value: | £ | £ |

| 11,107,310 | Ordinary Shares | £0.10 | 1,110,731 |  | 1,110,731 |  |

9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Bianca Permal FCA (Senior Statutory Auditor)

| for and on behalf of DUX Advisory Limited

10. | 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.

11. | ULTIMATE CONTROLLING PARTY

| From 28th March 2025, the ultimate controlling party is Credec Group Limited.