REGISTERED NUMBER: 13616885 (England and Wales)

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

IEG GROUP LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Consolidated Income Statement

6

Consolidated Balance Sheet

7

Company Balance Sheet

8

Notes to the Consolidated Financial Statements

9

DIRECTORS:

Mr P P Tomlinson

Mr J P Clarke

Mr S J Wilkinson

Mr T Darbyshire

Mr S R Ferry

Mr A G Fraser

REGISTERED OFFICE:

Queens Court

Wilmslow Road

Alderley Edge

Cheshire

SK9 7QD

REGISTERED NUMBER:

13616885 (England and Wales)

AUDITORS:

Christian Douglass Accountants Limited

Chartered Accountants

Statutory Auditor

2 Jordan Street

Knott Mill

Manchester

M15 4PY

The directors present their report with the financial statements of the company and the group 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.

Mr P P Tomlinson

Mr J P Clarke

Mr S J Wilkinson

Mr T Darbyshire

Other changes in directors holding office are as follows:

Mr J A Leone - resigned 16 May 2024

Mr S R Ferry - appointed 16 May 2024

Mr A G Fraser - appointed 12 July 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 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 directors are 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 each director 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.

AUDITORS

The auditors, Christian Douglass Accountants Limited, are deemed to be reappointed in accordance with section 487(2) of the Companies Act 2006.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr T Darbyshire - Director

18 July 2025

Opinion

We have audited the financial statements of IEG Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet and 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 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 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 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 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 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has 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 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 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 directors' remuneration specified by law are not made; or

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

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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 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 directors either intend to liquidate the group or the parent 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:

The audit, conducted in accordance with the ISAs (UK), required the exercise of professional judgment and the application of professional skepticism throughout. The audit was planned so as to identify and assess the risks of material misstatement of the financial statements, howsoever arising, and we subsequently designed and performed audit procedures responsive to those risks. We obtained an understanding of the company and group's systems of internal control, which management have established as described above, and undertook walkthrough testing to confirm their operation, solely to assist with designing audit procedures that are appropriate in the circumstances. We evaluated the appropriateness of accounting policies and the reasonableness of accounting estimates used by management. We audited the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business, if any. Further, we reviewed and concluded on the appropriateness of management's use of the going concern basis of accounting.

As a general commercial business, neither the company or group operate in a heavily regulated environment, however we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, through discussion with the directors and other management (as required by auditing standards), and from inspection of regulatory and legal correspondence and we 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 audit team and remained alert for any indications of non-compliance throughout the audit.

The company and group are subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation, taxation legislation and pension legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

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 the auditing standards. In addition, as with any audit, there remains a higher risk of non-detection of fraud based irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. 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.

Mrs Deborah Burton F.C.A. (Senior Statutory Auditor)

for and on behalf of Christian Douglass Accountants Limited

Chartered Accountants

Statutory Auditor

2 Jordan Street

Knott Mill

Manchester

M15 4PY

21 July 2025

TURNOVER

5,988,201

4,288,317

Cost of sales

776,687

409,761

GROSS PROFIT

5,211,514

3,878,556

Administrative expenses

5,768,550

4,381,435

(557,036

)

(502,879

)

Other operating income

7,834

-

OPERATING LOSS

4

(549,202

)

(502,879

)

Interest receivable and similar income

12,456

39,512

(536,746

)

(463,367

)

Interest payable and similar expenses

1,603,766

1,152,411

LOSS BEFORE TAXATION

(2,140,512

)

(1,615,778

)

Tax on loss

(7,507

)

29,392

LOSS FOR THE FINANCIAL YEAR

(2,133,005

)

(1,645,170

)

Loss attributable to:

Owners of the parent

(2,133,005

)

(1,645,170

)

FIXED ASSETS

Intangible assets

7

13,910,378

6,485,359

Tangible assets

8

45,145

50,456

Investments

9

-

-

13,955,523

6,535,815

CURRENT ASSETS

Debtors

10

1,727,466

1,354,258

Cash at bank and in hand

1,984,331

2,761,217

3,711,797

4,115,475

CREDITORS

Amounts falling due within one year

11

5,089,702

2,293,600

NET CURRENT (LIABILITIES)/ASSETS

(1,377,905

)

1,821,875

TOTAL ASSETS LESS CURRENT LIABILITIES

12,577,618

8,357,690

CREDITORS

Amounts falling due after more than one year

12

18,637,440

12,255,769

NET LIABILITIES

(6,059,822

)

(3,898,079

)

CAPITAL AND RESERVES

Called up share capital

12,425

12,001

Share premium

311,931

274,455

Retained earnings

(6,384,178

)

(4,184,535

)

(6,059,822

)

(3,898,079

)

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2025 and were signed on its behalf by:

Mr T Darbyshire - Director

FIXED ASSETS

Intangible assets

7

-

-

Tangible assets

8

-

-

Investments

9

13,726,209

9,141,600

13,726,209

9,141,600

CURRENT ASSETS

Debtors

10

1,151,656

101,963

Cash at bank

117,743

-

1,269,399

101,963

CREDITORS

Amounts falling due within one year

11

2,099,175

468,726

NET CURRENT LIABILITIES

(829,776

)

(366,763

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,896,433

8,774,837

CREDITORS

Amounts falling due after more than one year

12

18,637,440

12,255,769

NET LIABILITIES

(5,741,007

)

(3,480,932

)

CAPITAL AND RESERVES

Called up share capital

12,426

12,001

Share premium

311,931

274,455

Retained earnings

(6,065,364

)

(3,767,388

)

(5,741,007

)

(3,480,932

)

Company's loss for the financial year

(2,231,338

)

(1,335,548

)

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2025 and were signed on its behalf by:

Mr T Darbyshire - Director

1.	STATUTORY INFORMATION

IEG Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 13616885 and its registered office address is at Queens Court, Wilmslow Road, Alderley Edge, Cheshire, SK9 7QD.

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.

At the balance sheet date, the company and group had net liabilities of £5,741,007 (2023: £3,480,932) and £6,059,822 (2023: £3,898,079) respectively. It is relevant to note that interest payable on 'Other loans' is capitalised and therefore does not have any impact on working capital balances. The other loans themselves are long term liabilities that do not require repayment within the period of twelve months following the approval of the accounts.

The directors have considered the projected trading and cash position of the group's trading subsidiaries for a period of twelve months following the approval of the accounts. The projections demonstrate that, with the continuing support of the group's funders, the company can meet its working capital requirements as they fall due. The directors, therefore, consider it appropriate to prepare the accounts on a going concern basis.

Basis of consolidation

The group financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2024. Subsidiary undertakings are included using the acquisition method of accounting. The results of subsidiaries sold or acquired are included in the profit and loss account up to, or from, the date control passes. The purchase consideration has been allocated to assets and liabilities on the basis of fair value at the date of acquisition. Intra-group sales and profits are eliminated fully on consolidation.

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.

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

Turnover

Turnover represents the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and value added tax, except in respect of service contracts where turnover is recognised when the group obtains the right to consideration. In respect of the latter, turnover represents a proportion of total expected contract revenue compared to actual costs incurred to the balance sheet date, calculated to represent the forecast margin expected on completion of the contract. The resultant provisions for unbilled income or income billed in advance are included in debtors and creditors respectively, as amounts recoverable on contracts and deferred income.

The directors are required to apply judgement in assessing turnover and arriving at the relevant proportions to be accounted for in any period. The key area of estimation uncertainty involves the likelihood of changes to customer requirements during the period. Factors taken into account in reaching their decision include the actual outturn of previous assignments and job by job appraisal of performance to date together with future expectations.

Goodwill

Goodwill arises on consolidation, in respect of the acquisition of businesses in 2021 and 2024. Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated amortisation and accumulated impairment losses, as assessed at each balance sheet date. The directors consider that a useful economic life of ten years is appropriate

Intangible assets

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

Development of products is capitalised when it meets the following conditions:

i) It is technically feasible to complete the research or development so that the product will be available for use or sale.

ii) It is intended to use or sell the product being developed.

iii) The group is able to use or sell the product.

iv) It can be demonstrated that the product will generate probable future economic benefits.

v) Adequate technical, financial and other resources exist so that product development can be completed and subsequently used or sold.

vi) Expenditure attributable to the research and development work can be reliably measured.

All other research and development expenditure, as applicable, is recognised as an expense in the period in which it is incurred.

Development costs are being amortised evenly over their estimated useful life of three and six years.

Other intangible assets are amortised over their useful economic life of 10 years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost, 20% on reducing balance and 25%-33% on cost

Computer equipment

-

25% on cost and 25%-33% on cost

Tangible fixed assets are stated at historical invoice cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure directly attributable to bringing the asset to the location and condition necessary for operation by the group.

Financial instruments

Financial instruments are considered to comprise bank balances and trade and other debtors plus trade and other creditors, including group balances, which are all included on a non-discounted basis, at transaction price less any necessary impairment. In addition, financial instruments include financial liabilities representing financing transactions, being other loans which are initially recorded at the present value of expected future cashflows and are re-measured at each balance sheet date at amortised cost using the effective interest method.

Income and expenditure generated in respect of these financial instruments, including interest receivable and payable, are recognised in the income statement as they accrue.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

The financial statements of overseas subsidiaries are translated into Sterling before inclusion in the consolidation. The income statement is translated using the average rate of exchange ruling across the financial period whilst the balance sheet is translated using the rate of exchange ruling at the balance sheet date. Any exchange difference arising on the retranslation of opening net assets is recorded in the Consolidated Statement of Other Comprehensive Income and taken directly to reserves. All other exchange differences arising are taken to the Consolidated Income Statement.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2023 - 35 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 21 (2023 - NIL ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

31.12.24

31.12.23

£

£

Depreciation - owned assets

28,397

16,574

Goodwill amortisation

1,193,508

822,533

Development costs amortisation

110,729

-

Computer software amortisation

6,560

-

5.	EXCEPTIONAL ITEMS

31.12.24

31.12.23

£

£

Exceptional items

(618,141

)

-

Included within administrative expenses are exceptional professional fees which were incurred during the acquisition of the Agile Applications Group Limited group of companies during the year.

6.	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.

7.	INTANGIBLE FIXED ASSETS

Group

Development

Computer

Goodwill

costs

software

Totals

£

£

£

£

COST

At 1 January 2024

8,225,328

-

-

8,225,328

Additions

7,578,022

1,105,315

52,479

8,735,816

At 31 December 2024

15,803,350

1,105,315

52,479

16,961,144

AMORTISATION

At 1 January 2024

1,739,969

-

-

1,739,969

Amortisation for year

1,193,508

110,729

6,560

1,310,797

At 31 December 2024

2,933,477

110,729

6,560

3,050,766

NET BOOK VALUE

At 31 December 2024

12,869,873

994,586

45,919

13,910,378

At 31 December 2023

6,485,359

-

-

6,485,359

8.	TANGIBLE FIXED ASSETS

Group

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

14,428

63,128

77,556

Additions

1,376

23,815

25,191

Disposals

-

(9,998

)

(9,998

)

At 31 December 2024

15,804

76,945

92,749

DEPRECIATION

At 1 January 2024

5,896

21,204

27,100

Charge for year

3,921

24,476

28,397

Eliminated on disposal

-

(7,893

)

(7,893

)

At 31 December 2024

9,817

37,787

47,604

NET BOOK VALUE

At 31 December 2024

5,987

39,158

45,145

At 31 December 2023

8,532

41,924

50,456

9.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 January 2024

9,141,600

Additions

6,193,609

Share of profit/(loss)

(1,609,000

)

At 31 December 2024

13,726,209

NET BOOK VALUE

At 31 December 2024

13,726,209

At 31 December 2023

9,141,600

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

IEG4 Limited

Registered office: Queens Court, Wilmslow Road, Alderley Edge, Cheshire, SK9 7QD

Nature of business: Software development

%

Class of shares:

holding

Ordinary

100.00

IEG Holdings Limited

Registered office: Queens Court, Wilmslow Road, Alderley Edge, Cheshire, SK9 7QD

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

Agile Applications Group Limited

Registered office: Queens Court, Wilmslow Road, Alderley Edge, Cheshire, SK9 7QD

Nature of business: Holding company

%

Class of shares:

holding

Ordinary

100.00

Agile Applications Limited

Registered office: Queens Court, Wilmslow Road, Alderley Edge, Cheshire, SK9 7QD

Nature of business: Software development

%

Class of shares:

holding

Ordinary

100.00

Clear Skies Software Limited

Registered office: Queens Court, Wilmslow Road, Alderley Edge, Cheshire, SK9 7QD

Nature of business: Software development

%

Class of shares:

holding

Ordinary

100.00

Agile Waste Limited

Registered office: Queens Court, Wilmslow Road, Alderley Edge, Cheshire, SK9 7QD

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

Sun Agile Software Ltd

Registered office: Queens Court, Wilmslow Road, Alderley Edge, Cheshire, SK9 7QD

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

Sun Agile Software S.L.

Registered office: Compositor Lehmberg Ruiz, 10 Edificio Galaxia, 2da Planta, Oficina 17 29007, Malaga, Spain

Nature of business: Software development

%

Class of shares:

holding

Ordinary

100.00

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

£

£

£

Trade debtors

361,500

518,376

-

-

Amounts owed by group undertakings

-

-

1,121,222

-

Amounts recoverable on contract

449,255

-

-

-

Other debtors

41,883

102

-

1

Directors' loan accounts

-

66,638

-

66,638

VAT

-

-

10,901

8,070

Deferred tax asset

684,665

684,665

-

-

Called up share capital not paid

20,000

19,000

19,000

19,000

Prepayments and accrued income

170,163

65,477

533

8,254

1,727,466

1,354,258

1,151,656

101,963

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

£

£

£

Bank loans and overdrafts

443,888

-

443,888

-

Trade creditors

220,553

80,410

29,689

11,399

Amounts owed to group undertakings

-

-

906,493

446,323

Tax

-

7,507

-

-

Social security and other taxes

157,150

72,278

11,676

-

VAT

203,133

149,522

-

-

Other creditors

728,650

16,292

677,679

-

Deferred income

2,982,065

1,784,621

-

-

Accrued expenses

354,263

182,970

29,750

11,004

5,089,702

2,293,600

2,099,175

468,726

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

£

£

£

Bank loans - 1-2 years

1,362,405

-

1,362,405

-

Other loans - 2-5 years

17,275,035

12,255,769

17,275,035

12,255,769

18,637,440

12,255,769

18,637,440

12,255,769

13.	LEASING AGREEMENTS

Minimum lease payments fall due as follows: