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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Ixaris Group Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Floor 3, 18 St. Swithin's Lane, London, England, EC4N 8AD.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements have been prepared on a going concern basis. As at 31 December 2024, the company incurred a loss for the year of £2.3 million (2023: £164,000) and had net current liabilities of £7.7 million (2023: £5.5 million) and net liabilities of £4.4 million (2023: £2.1 million). The company’s ability to continue as a going concern is dependent upon the ongoing financial support of its parent company, which has confirmed its intention to provide such support for the foreseeable future.true

The directors acknowledge that the company is dependent on the financial support of its parent undertaking. The immediate parent company, Nium Fintech International Pte. Ltd., and the ultimate parent company, Nium Pte. Ltd. (Singapore), have confirmed that they will continue to provide financial support to the company for a period of at least twelve months from the date of approval of these financial statements.

Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Comparatives

There were no changes in comparative figures during the year.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The company holds material investments in 100% owned subsidiary undertakings. These investments are carried at cost less any accumulated impairment losses. The directors follow a simplified approach when reviewing the carrying value at each reporting date, considering whether there are any obvious indicators of impairment based on the subsidiaries’ net asset positions.

The average monthly number of persons (including directors) employed by the company during the year was:

Details of the company's subsidiaries at 31 December 2024 are as follows:

Registered office addresses:

* England and Wales: Floor 3 18 St. Swithin's Lane, London, England, EC4N 8AD

** Malta: The Penthouse, Suite 1, Capital Business Centre, Triq Taz-Zwejt, San Gwann, Malta

*** USA: 1209 Orange Street, Newcastle County, Wilmington, Delaware 19808, USA

Ixaris Financial Services Holdings Limited and Ixaris Limited are under liquidation.

The other reserve represents a capital contribution of £1,000,000 received from the company’s parent undertaking, Nium Pte. Ltd., in March 2021. This contribution was made without the issue of shares and is not repayable.

The amount was recognised within equity as a capital contribution from the parent company in the year ended 31 December 2021. This treatment reflected the substance of the transaction as an injection of capital to support the company’s operations, rather than income earned in the ordinary course of business.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

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.

The company has taken advantage of the exemption available under FRS 102 Section 33 ‘Related Party Disclosures’ from disclosing transactions with its parent company and wholly owned members of the group, on the grounds that the group financial statements in which the company is consolidated are publicly available.

The immediate parent company is Nium Pte. Ltd., a company incorporated in Singapore.

The ultimate parent and controlling party is Nium Holdings Pte. Ltd., which is also incorporated and registered in Singapore. The smallest and largest group in which the results of Nium Fintech Limited are consolidated is headed by Nium Holdings Pte. Ltd.

Consolidated financial statements for Nium Holdings Pte. Ltd. can be obtained from its registered office:

Nium Holdings Pte. Ltd. 168 Robinson Road, #08-01 Capital Tower Singapore 068912.