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REGISTERED NUMBER: 14974565 (England and Wales)

Unaudited Financial Statements

for the Period 4 January 2024 to 31 December 2024

for

Addex Urban Ltd

Addex Urban Ltd (Registered number: 14974565)

Contents of the Financial Statements

for the Period 4 January 2024 to 31 December 2024

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 3 |

Addex Urban Ltd (Registered number: 14974565)

Balance Sheet

31 December 2024

| 31.12.24 |  | 3.1.24

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 340,000 |  | 380,000 |  |

Tangible assets | 5 | 1,728,773 |  | 801,497 |  |

2,068,773 |  | 1,181,497 |  |

CURRENT ASSETS

Stocks | 1,358,764 |  | 1,581,038 |  |

Debtors | 6 | 624,086 |  | 1,062,217 |  |

Cash at bank | 222 |  | - |  |

1,983,072 |  | 2,643,255 |  |

CREDITORS

Amounts falling due within one year | 7 | (1,223,740 | ) | (1,742,785 | ) |

NET CURRENT ASSETS | 759,332 |  | 900,470 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,828,105 |  | 2,081,967 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (2,549,668 | ) | (1,966,721 | ) |

PROVISIONS FOR LIABILITIES | (73,790 | ) | - |  |

NET ASSETS | 204,647 |  | 115,246 |  |

CAPITAL AND RESERVES

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

Retained earnings | 203,647 |  | 114,246 |  |

204,647 |  | 115,246 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Addex Urban Ltd (Registered number: 14974565)

Balance Sheet - continued

31 December 2024

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2025 and were signed on its behalf by:

Mr L Ching - Director

Addex Urban Ltd (Registered number: 14974565)

Notes to the Financial Statements

for the Period 4 January 2024 to 31 December 2024

1. | STATUTORY INFORMATION

| Addex Urban Ltd is a private company, limited by shares, domiciled in England registration number 14974565. The registered office is Innovation House, Innovation Park, Main Road, Middleton Cheney, Banbury, United Kingdom, OX17 2PR.

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.

| Turnover

| Turnover represents net invoiced sales of goods in respect of environmental cleaning equipment and other machinery, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

| 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.

| Tangible fixed assets and depreciation

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

| Land and buildings | - | 20% on cost

| Plant and machinery etc | - | 20% on reducing balance

| Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

| The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

| Taxation

| Taxation for the period 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 balance sheet date.

Addex Urban Ltd (Registered number: 14974565)

Notes to the Financial Statements - continued

for the Period 4 January 2024 to 31 December 2024

2. | ACCOUNTING POLICIES - continued

| 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 period 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.

| Provisions

| Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

| Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

| Cash and cash equivalents

| Cash and cash equivalents include cash at bank and in hand and highly liquid interest-bearing securities with maturities of three months or less. In the cash-flow statement, cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the balance sheet.

| Going concern

| The directors of the company have reviewed the company's financial position for 12 months from the balance sheet signing date and it is the director's belief that the company should prepare financial statements on a going concern basis.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 3 (2024 - 3 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 4 January 2024

| and 31 December 2024 | 400,000 |  |

| AMORTISATION

| At 4 January 2024 | 20,000 |  |

| Charge for period | 40,000 |  |

| At 31 December 2024 | 60,000 |  |

| NET BOOK VALUE

| At 31 December 2024 | 340,000 |  |

| At 3 January 2024 | 380,000 |  |

Addex Urban Ltd (Registered number: 14974565)

Notes to the Financial Statements - continued

for the Period 4 January 2024 to 31 December 2024

5. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 4 January 2024 | 3,896 |  | 884,931 |  | 888,827 |  |

| Additions | 6,349 |  | 1,452,238 |  | 1,458,587 |  |

| Reclassification/transfer | - |  | (318,834 | ) | (318,834 | ) |

| At 31 December 2024 | 10,245 |  | 2,018,335 |  | 2,028,580 |  |

| DEPRECIATION

| At 4 January 2024 | 390 |  | 86,940 |  | 87,330 |  |

| Charge for period | 1,768 |  | 242,592 |  | 244,360 |  |

| Reclassification/transfer | - |  | (31,883 | ) | (31,883 | ) |

| At 31 December 2024 | 2,158 |  | 297,649 |  | 299,807 |  |

| NET BOOK VALUE

| At 31 December 2024 | 8,087 |  | 1,720,686 |  | 1,728,773 |  |

| At 3 January 2024 | 3,506 |  | 797,991 |  | 801,497 |  |

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

| 31.12.24 |  | 3.1.24

£ | £ |

| Trade debtors | 424,249 |  | 1,061,217 |  |

| Other debtors | 199,837 |  | 1,000 |  |

624,086 |  | 1,062,217 |  |

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

| 31.12.24 |  | 3.1.24

£ | £ |

| Hire purchase contracts | 204,287 |  | - |  |

| Trade creditors | 298,791 |  | 994,297 |  |

| Amounts owed to related parties | 711,311 |  | 627,246 |  |

| Taxation and social security | - |  | 118,242 |  |

| Other creditors | 9,351 |  | 3,000 |  |

1,223,740 |  | 1,742,785 |  |

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

| 31.12.24 |  | 3.1.24

£ | £ |

| Hire purchase contracts | 464,649 |  | - |  |

| Amounts owed to related parties | 2,085,019 |  | 1,966,721 |  |

2,549,668 |  | 1,966,721 |  |

Addex Urban Ltd (Registered number: 14974565)

Notes to the Financial Statements - continued

for the Period 4 January 2024 to 31 December 2024

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.12.24 |  | 3.1.24

£ | £ |

| Hire purchase contracts | 668,936 |  | - |  |

| Hire purchase contracts are secured on the assets to which they relate.

10. | RELATED PARTY DISCLOSURES

| Amounts due to companies under common control of £2,796,330 (2023: £2,593,967).