REGISTERED NUMBER: 11497867 (England and Wales)

Audited Financial Statements

for the Year Ended 31 December 2024

for

Everflow Tech Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Gill

A E Straker

J D Cleave

C L Dallison

J R Garrett

A Sheldon

L Armstrong

REGISTERED OFFICE:

Traynor Hub (T2)

Traynor Way

Whitehouse Business Park

Peterlee

SR8 2RU

REGISTERED NUMBER:

11497867 (England and Wales)

SENIOR STATUTORY AUDITOR:

Kevin Shotton BA BFP FCA

AUDITORS:

Clive Owen LLP

Chartered Accountants

& Statutory Auditors

140 Coniscliffe Road

Darlington

County Durham

DL3 7RT

FIXED ASSETS

Intangible assets

4

4,193,511

4,192,659

Tangible assets

5

146,229

171,209

4,339,740

4,363,868

CURRENT ASSETS

Debtors

6

513,928

142,796

Cash at bank

246

565

514,174

143,361

CREDITORS

Amounts falling due within one year

7

(8,731,778

)

(7,671,898

)

NET CURRENT LIABILITIES

(8,217,604

)

(7,528,537

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,877,864

)

(3,164,669

)

PROVISIONS FOR LIABILITIES

8

(373,857

)

-

NET LIABILITIES

(4,251,721

)

(3,164,669

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(4,251,821

)

(3,164,769

)

SHAREHOLDERS' FUNDS

(4,251,721

)

(3,164,669

)

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 26 September 2025 and were signed on its behalf by:

J D Cleave - Director

1.	STATUTORY INFORMATION

Everflow Tech 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.

There were no departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company, with the support of the group, has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Related party exemption

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 the parent company and wholly owned subsidiaries within the group nor transactions conducted at a market rate.

Turnover

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

Income recognition

Income is recognised in the period which the licence to use the software is provided to the customer.

Intangible assets

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

Computer software is currently being amortised over 5 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are included at cost less any accumulated depreciation and impairment.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.

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.

Pension costs and other post-retirement benefits

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 44 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

6,325,953

Additions

1,182,531

Impairments

(143,301

)

At 31 December 2024

7,365,183

AMORTISATION

At 1 January 2024

2,133,294

Amortisation for year

1,038,378

At 31 December 2024

3,171,672

NET BOOK VALUE

At 31 December 2024

4,193,511

At 31 December 2023

4,192,659

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

17,649

244,573

262,222

Additions

-

30,235

30,235

At 31 December 2024

17,649

274,808

292,457

DEPRECIATION

At 1 January 2024

4,963

86,050

91,013

Charge for year

3,340

51,875

55,215

At 31 December 2024

8,303

137,925

146,228

NET BOOK VALUE

At 31 December 2024

9,346

136,883

146,229

At 31 December 2023

12,686

158,523

171,209

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

15,234

22,820

Amounts owed by group undertakings

243,178

10,355

Other debtors

203,382

17,909

Prepayments and accrued income

52,134

91,712

513,928

142,796

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

981

4,233

Amounts owed to group undertakings

8,530,686

7,497,098

Taxation and social security

83,845

61,043

Accruals and deferred income

116,266

109,524

8,731,778

7,671,898

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

373,857

-

Deferred

tax

£

Accelerated capital allowances

373,857

Balance at 31 December 2024

373,857

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

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

The Report of the Auditors was unqualified.

Kevin Shotton BA BFP FCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

11.	OTHER FINANCIAL COMMITMENTS

There is second a cross guarantee in place in relation to the FW Capital loan held in Everflow Holdings Limited. The cross guarantee is between Everflow Holdings Limited, Everflow Limited, Everflow Operations Limited and Everflow Tech Limited. The loan is secured with a fixed and floating charge over the assets of the company. At the year end the loan balance outstanding was £43,290 (2023: £228,991).

There is a cross guarantee in place in relation to the Sansaar loan held in Everflow Holdings Limited. The cross guarantee is between Everflow Holdings Limited, Everflow Limited, Everflow Operations Limited and Everflow Tech Limited. The loan is secured with a fixed and floating charge over the assets of the company. At the year end the loan balance outstanding is £6,475,974 (2023: £6,439,936).

12.	ULTIMATE PARENT COMPANY

The ultimate parent company is Everflow Holdings Limited. The parent company registered office is Traynor Hub (T2) Traynor Way, Whitehouse Business Park, Peterlee SR8 2RU.