REGISTERED NUMBER: 09690353 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

AnywhereWorks Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Statement of Cash Flows

12

Notes to the Statement of Cash Flows

13

Notes to the Financial Statements

14

DIRECTORS:

M B Payne

T Davies

REGISTERED OFFICE:

3rd Floor

207 Regent Street

London

W1B 3HH

REGISTERED NUMBER:

09690353 (England and Wales)

AUDITORS:

McLachlan & Tiffin

Clifton House

Crieff

PH7 4BN

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

Strategic Management

The company is run with a view to make an impact that matters to people, planet and purposes of a more sustainable future. It seeks to make a difference through learning, sharing and giving back. Decision making is influenced by these objectives.

Business Environment

The business is focused on supporting the UK market whilst providing backup support for other global needs. The business environment has remained challenging due to inflationary pressures and low growth rates in the U.K. economy. The business continues to be run with a long term outlook and as such the directors remain committed to their long term objectives.

The business actively monitors the trend of customer acquisition and attrition as an early warning indicator of economic pressures on its client base.The company remains well financed and the directors are committed to building sustainable models of commerce.

Review of Business

Turnover fell by £2,841,484 from £9,148,938 to £6,307,454. Profit before tax fell by £781,782 from £387,775 in 2023, to a loss of £394,007 in 2024.

Over the year, the net asset value of the company decreased by £286,255.

The company had a net outflow of cash of £411,327 (2023 : inflow of £41,835). Cash spent on operations was £311,999 (2023 : £385,275 cash generated from operations).

PRINCIPAL RISKS AND UNCERTAINTIES

The main risks to the company are driven by the macro economic environment, particularly for small to medium sized enterprises, which form a large part of its customer base.

As at the date of signing, there is some uncertainty around the current government's plans to achieve economic growth and also its future taxation plans. The slow fall in interest rates and inflationary pressures on costs are making the environment challenging for many businesses across a wide range of sectors.

Attraction and retention of staff of the right calibre will remain a key requirement to support operations into the future. The job market within the technology sector remains extremely competitive. Alongside this, is a general upward inflationary pressure on wages. The company faces strong competition for recruitment in both the technology sector and in the entry level job pool from which associates are recruited.

The higher employer's national insurance costs which came into effect in April 2025 will add to our own cost base, but will also impact on our customers and their ability to spend. A higher compliance burden and an increase in base level employment rights would potentially increase labour costs further.

The company is well funded and has no external debt, so is well placed to take advantage of commercial and development opportunities that may arise.

KEY FINANCIAL PERFORMANCE INDICATORS

The key financial indicators are those which are tied to the strategic objectives of making sustainable positive impact for people, planet and purpose of a more livable future.

To this extent, we would consider profit before tax, net asset value, retention and giving back initiatives to be our key performance indicators.

ON BEHALF OF THE BOARD:

M B Payne - Director

29 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of call answering services and software development.

DIVIDENDS

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

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

M B Payne

T Davies

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are 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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company 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 directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, McLachlan & Tiffin, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M B Payne - Director

29 September 2025

Opinion

We have audited the financial statements of AnywhereWorks Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 company's affairs as at 31 December 2024 and of its loss 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 company 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 directors' 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 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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, 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.

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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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, or returns adequate for our audit have not been received from branches not visited by us; or

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

-	certain disclosures of directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are 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 directors determine 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 directors are responsible for assessing the 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.Based on our understanding of the company and its industry, we identified that the principal risks of non-compliance with laws and regulations related to the UK tax legislation, pensions legislation, employment regulation and health and safety regulation, anti-bribery, corruption and fraud, money laundering and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006.

We evaluated the directors' and management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions.

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:

· discussing with the director and management their policies and procedures regarding compliance with laws and

regulations;

· communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and

· considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.

Our audit procedures in relation to fraud included but were not limited to:

· making enquiries of the directors and management on whether they had knowledge of any actual, suspected or

alleged fraud;

· gaining an understanding of the internal controls established to mitigate risks related to fraud;

· discussing amongst the engagement team the risks of fraud; and

· addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

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.

Ralph Tiffin (Senior Statutory Auditor)

for and on behalf of McLachlan & Tiffin

Clifton House

Crieff

PH7 4BN

29 September 2025

TURNOVER

3

6,307,454

9,148,938

Cost of sales

2,587,866

4,696,636

GROSS PROFIT

3,719,588

4,452,302

Administrative expenses

4,409,280

4,276,376

(689,692

)

175,926

Other operating income

127,627

39,654

OPERATING (LOSS)/PROFIT

5

(562,065

)

215,580

Interest receivable and similar income

171,743

173,853

(390,322

)

389,433

Interest payable and similar expenses

6

3,685

1,658

(LOSS)/PROFIT BEFORE TAXATION

(394,007

)

387,775

Tax on (loss)/profit

7

(107,752

)

130,367

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(286,255

)

257,408

(LOSS)/PROFIT FOR THE YEAR

(286,255

)

257,408

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(286,255

)

257,408

FIXED ASSETS

Tangible assets

8

2,163,763

2,259,299

CURRENT ASSETS

Debtors

9

15,788,865

15,989,289

Cash at bank

301,755

713,082

16,090,620

16,702,371

CREDITORS

Amounts falling due within one year

10

321,502

634,782

NET CURRENT ASSETS

15,769,118

16,067,589

TOTAL ASSETS LESS CURRENT LIABILITIES

17,932,881

18,326,888

PROVISIONS FOR LIABILITIES

12

-

107,752

NET ASSETS

17,932,881

18,219,136

CAPITAL AND RESERVES

Called up share capital

13

17,172,515

17,172,515

Retained earnings

14

760,366

1,046,621

SHAREHOLDERS' FUNDS

17,932,881

18,219,136

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

M B Payne - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

16,672,515

789,213

17,461,728

Changes in equity

Issue of share capital

500,000

-

500,000

Total comprehensive income

-

257,408

257,408

Balance at 31 December 2023

17,172,515

1,046,621

18,219,136

Changes in equity

Total comprehensive income

-

(286,255

)

(286,255

)

Balance at 31 December 2024

17,172,515

760,366

17,932,881

Cash flows from operating activities

Cash generated from operations

1

(311,999

)

385,275

Interest paid

(3,685

)

(1,658

)

Tax paid

(124,094

)

34,050

Interest received from HMRC

2,916

3,312

Net cash from operating activities

(436,862

)

420,979

Cash flows from investing activities

Purchase of tangible fixed assets

(829,909

)

(1,157,965

)

Sale of tangible fixed assets

583,529

-

Loans repaid from associated company

103,009

101,548

Movement on current acc with associate

6,786

6,732

Interest received

168,827

170,541

Net cash from investing activities

32,242

(879,144

)

Cash flows from financing activities

Amount introduced by directors

696

-

Amount withdrawn by directors

(7,403

)

-

Share issue

-

500,000

Net cash from financing activities

(6,707

)

500,000

(Decrease)/increase in cash and cash equivalents

(411,327

)

41,835

Cash and cash equivalents at beginning of year

2

713,082

671,247

Cash and cash equivalents at end of year

2

301,755

713,082

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24

31.12.23

£

£

(Loss)/profit before taxation

(394,007

)

387,775

Depreciation charges

349,259

373,886

Profit on disposal of fixed assets

(7,345

)

-

Finance costs

3,685

1,658

Finance income

(171,743

)

(173,853

)

(220,151

)

589,466

Decrease/(increase) in trade and other debtors

160,349

(471,326

)

(Decrease)/increase in trade and other creditors

(252,197

)

267,135

Cash generated from operations

(311,999

)

385,275

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

301,755

713,082

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

713,082

671,247

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank

713,082

(411,327

)

301,755

713,082

(411,327

)

301,755

Total

713,082

(411,327

)

301,755

1.	STATUTORY INFORMATION

AnywhereWorks 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 wholly owned subsidiaries within the group.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include:

Depreciation of tangible fixed assets

Determining the appropriate rate of depreciation of tangible fixed assets requires an estimation of the useful

economic life and ultimate net realisable value. The useful economic life is determined to be the period during which each asset will generate positive cash flows for the company.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must be met before turnover is recognised.

Rendering of Services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied.

- the amount of turnover can be measured reliably.

- it is probable that the Company will receive the consideration due under the contract.

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Fixtures and fittings

-

20% on cost

Computer equipments

-

33% on cost and 20% on cost

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Debt instruments (other than those wholly repayable or receivable within one year) including loans and other

accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable with one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid.

Debtors receivable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

The company's functional and presentational currency is GBP.

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 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.

3.

TURNOVER

The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

31.12.24

31.12.23

£

£

United Kingdom

2,646,297

2,618,482

North America & Rest of World

3,661,157

6,530,456

6,307,454

9,148,938

4.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

3,053,198

3,389,257

Social security costs

314,871

320,104

Other pension costs

273,177

108,183

3,641,246

3,817,544

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

31.12.24

31.12.23

Associates

70

79

Management

6

6

Support Staff

28

34

104

119

31.12.24

31.12.23

£

£

Directors' remuneration

36,250

134,500

Directors' pension contributions to money purchase schemes

150,828

2,962

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

31.12.24

31.12.23

£

£

Other operating leases

480,950

488,830

Depreciation - owned assets

349,259

373,886

Profit on disposal of fixed assets

(7,345

)

-

Audit Fee

10,200

2,000

Foreign exchange differences

58

6,803

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

£

£

Other Interest charges

3,685

1,658

7.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

-

146,501

R&D Claim

-

(28,070

)

Total current tax

-

118,431

Deferred tax

(107,752

)

11,936

Tax on (loss)/profit

(107,752

)

130,367

Reconciliation of total tax (credit)/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:

31.12.24

31.12.23

£

£

(Loss)/profit before tax

(394,007

)

387,775

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.500%)

(98,502

)

91,127

Effects of:

Expenses not deductible for tax purposes

5,861

21,154

Capital allowances in excess of depreciation

(119,391

)

-

Depreciation in excess of capital allowances

-

68,542

Adjustments to tax charge in respect of previous periods

-

(27,912

)

Deferred tax movement on fixed asset timing differences

(107,752

)

11,937

Research and Development Credit 2023

-

(34,481

)

Losses carried forward

212,032

-

Total tax (credit)/charge

(107,752

)

130,367

8.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipments

Totals

£

£

£

£

£

COST

At 1 January 2024

2,045,586

495,656

612,324

162,242

3,315,808

Additions

708,220

15,222

97,762

8,703

829,907

Disposals

(466,944

)

(10,101

)

(103,671

)

(93,597

)

(674,313

)

At 31 December 2024

2,286,862

500,777

606,415

77,348

3,471,402

DEPRECIATION

At 1 January 2024

349,514

245,155

340,580

121,260

1,056,509

Charge for year

204,486

72,132

55,949

16,692

349,259

Eliminated on disposal

(13,716

)

(818

)

(8,965

)

(74,630

)

(98,129

)

At 31 December 2024

540,284

316,469

387,564

63,322

1,307,639

NET BOOK VALUE

At 31 December 2024

1,746,578

184,308

218,851

14,026

2,163,763

At 31 December 2023

1,696,072

250,501

271,744

40,982

2,259,299