Company registration number 05885409 (England and Wales)
AUGA TECHNOLOGIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
AUGA TECHNOLOGIES LIMITED
COMPANY INFORMATION
Directors
Mr M J Wikars
Mr J S Fowler
Secretary
Mrs Lisa Brine
Company number
05885409
Registered office
Ashcombe Court
Woolsack Way
Godalming
United Kingdom
GU7 1LQ
Business address
Unit 10a
Oakhanger Business Park
Oakhanger
Hampshire
GU35 9JA
AUGA TECHNOLOGIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
AUGA TECHNOLOGIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
6,894
10,687
Investments
5
2,276
2,276
9,170
12,963
Current assets
Debtors
6
951,903
844,081
Cash at bank and in hand
804,762
2,263,392
1,756,665
3,107,473
Creditors: amounts falling due within one year
7
(1,474,045)
(1,834,305)
Net current assets
282,620
1,273,168
Net assets
291,790
1,286,131
Capital and reserves
Called up share capital
153,221
153,221
Share premium account
1,324,942
1,324,942
Capital redemption reserve
12,537
12,537
Profit and loss reserves
(1,198,910)
(204,569)
Total equity
291,790
1,286,131

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

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered 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 1 December 2025 and are signed on its behalf by:
Mr J S Fowler
Director
Company Registration No. 05885409
AUGA TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Auga Technologies Limited is a private company limited by shares and incorporated in England and Wales. The registered office is Ashcombe Court, Woolsack Way, Godalming, United Kingdom, GU7 1LQ. The principal place of business is Unit 10a, Oakhanger Business Park, Oakhanger, Hampshire, GU35 9JA.

1.1
Accounting convention

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 a mounts 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 company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Assessment Process true

Management has undertaken a comprehensive review of the company’s financial position, performance, and cash flow forecasts. The forecasting period extends to March 2027 (17 months from the proposed signing date), and includes consideration of:

- The company’s ability to meet its liabilities as they fall due;

- Recent and forecast trading performance;

- Expected cash flows and available funding;

- Any known commitments and contingencies; and

- Management’s intentions regarding future operations, including planned cost controls, investment and business strategy.

Key Findings

Based on current cash flow projections and committed facilities, the company expects to be able to settle its debts as they fall due throughout the forecast period going forward based on the investment commitment from new and existing shareholders as part of the company restructure that took place between June and September 2025. The company expects to become profit and cash flow break even during the forecast period. Despite the recent challenges that led to the restructure, the Company has continued to service its existing contracts and win a considerable number of new contracts as the business has expanded into the North American education market over the last 18 months. Management see positive momentum across the customer base, particularly in the education sector, and do not see any indications of significant adverse trends.

AUGA TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -

Conclusion

With the restructure and new investment, Management is committed to a sustainable growth model that keeps the business efficient whilst capitalising on the positive momentum and extensive opportunities available. After considering all available information, management is satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, it is appropriate to prepare the financial statements on a going concern basis.

1.3
Reporting period

The company has changed its accounting reference date to 31 March, to align with fellow group companies. The current reporting period covers the 12 month period ended 31 March 2025. The prior reporting period covered the 6 month period ended 31 March 2024. Therefore, these financial statements are not entirely comparable.

1.4
Turnover

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales taxes or duties.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents and domain names
3 years straight line
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
3 years straight line
Computers
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Fixed asset investments

Interests in subsidiaries 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.

AUGA TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -

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.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

1.10
Financial instruments

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

Basic financial assets, which include trade and other debtors, amounts owed by group undertakings, 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.

Classification of financial liabilities

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.

AUGA TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including trade and other creditors and amounts owed to group undertakings, 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 paymen ts 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. A m ounts 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.

1.11
Equity instruments

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.

1.12
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Research and development tax credits are recognised on a receipts basis.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Share-based payments

When shares and share options are granted to employees a charge is made in the income statement and a reserve created in capital and reserves to record the fair value of the awards at the date of grant in accordance with Section 26 of FRS 102 Share-Based payment. The charge is spread over the vesting period.

1.16
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

AUGA TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.18

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

2
Employees

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

2025
2024
Number
Number
Total
35
40
3
Intangible fixed assets
Patents and domain names
£
Cost
At 1 April 2024 and 31 March 2025
54,593
Amortisation
At 1 April 2024 and 31 March 2025
54,593
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
AUGA TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2024
13,209
44,243
57,452
Additions
-
0
5,586
5,586
At 31 March 2025
13,209
49,829
63,038
Depreciation
At 1 April 2024
11,396
35,369
46,765
Depreciation charged in the year
1,813
7,566
9,379
At 31 March 2025
13,209
42,935
56,144
Carrying amount
At 31 March 2025
-
0
6,894
6,894
At 31 March 2024
1,813
8,874
10,687
5
Fixed asset investments
March
September
2025
2024
£
£
Shares in group undertakings
2,276
2,276
6
Debtors
March
September
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
171,460
431,729
Amounts owed by group undertakings
604,177
133,574
Other debtors
176,266
208,229
951,903
773,532
March
September
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
-
0
70,549
Total debtors
951,903
844,081
AUGA TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
7
Creditors: amounts falling due within one year
March
September
2025
2024
£
£
Trade creditors
53,321
270,032
Amounts owed to group undertakings
133,926
172,824
Taxation and social security
103,906
112,032
Other creditors
1,182,892
1,279,417
1,474,045
1,834,305
8
Share-based payment transactions

November 2019 scheme

Auga Technologies Limited operates an Enterprise Management Incentive Scheme ('EMI Scheme') for a number of the company's employees. Under the option deed, options may be granted in favour of individuals at the earlier of an exit event or 10 years after the grant date. No such exit event has occurred by 31 March 2025.

At the year end the vesting conditions of Nil (202 4: Nil) options were met.

During the year ended 31 March 2025 the company granted options over 15,874 (202 4: Nil) ordinary shares in relation to this scheme.

During the period ended 31 March 2025 Nil (202 4: Nil) options lapsed in relation to this scheme.

At 31 March 2025 there were 27,031 (202 4: 1 1,157) options still outstanding. 10,424 of t hese options have an exercise price of £8.90 per share. 733 of these options have an exercise price of £5.34 per share. 15,874 of these options have an exercise price of £7.20 per share (Please see note 10).

No expense (20 24: Nil) has been recognised in the profit and loss account for the share options granted in relation to this scheme.

The fair value of the shares at 31 March 2025 is £Nil (202 3: £Nil).

9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

March
September
2025
2024
£
£
16,000
16,000
AUGA TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
10
Events after the reporting date

Restructure

As a result of the business’ financial position, a restructuring exercise was undertaken between June and September 2025 to implement a significant reduction in employee costs and other non-critical cost centres.

Fundraising and acquisition

After the balance sheet date in September 2025, the company was purchased by Vevox Holdings Limited as part of a corporate restructure and equity funding round. The company received funding from new and existing shareholders to drive the business’ revised growth strategy. This funding was contingent on the aforementioned restructuring taking place.

Enterprise Management Incentive Scheme

Following the company restructure, the 27,031 options held in the Enterprise Management Incentive Scheme lapsed. This was due to the exit event taking place and none of the options being excercised.

2025-03-31 2024-04-01 false false false 02 December 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr M S W Beilby Mr C Holleyoak Sir N G Knowles Mr M J Wikars Mr P Stephansen Mr J S Fowler Mrs Lisa Brine 05885409 2024-04-01 2025-03-31 05885409 bus:Director4 2024-04-01 2025-03-31 05885409 bus:Director6 2024-04-01 2025-03-31 05885409 bus:CompanySecretary1 2024-04-01 2025-03-31 05885409 bus:Director1 2024-04-01 2025-03-31 05885409 bus:Director2 2024-04-01 2025-03-31 05885409 bus:Director3 2024-04-01 2025-03-31 05885409 bus:Director5 2024-04-01 2025-03-31 05885409 bus:RegisteredOffice 2024-04-01 2025-03-31 05885409 2025-03-31 05885409 2024-03-31 05885409 core:FurnitureFittings 2025-03-31 05885409 core:ComputerEquipment 2025-03-31 05885409 core:FurnitureFittings 2024-03-31 05885409 core:ComputerEquipment 2024-03-31 05885409 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 05885409 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05885409 core:ShareCapital 2025-03-31 05885409 core:ShareCapital 2024-03-31 05885409 core:SharePremium 2025-03-31 05885409 core:SharePremium 2024-03-31 05885409 core:CapitalRedemptionReserve 2025-03-31 05885409 core:CapitalRedemptionReserve 2024-03-31 05885409 core:RetainedEarningsAccumulatedLosses 2025-03-31 05885409 core:RetainedEarningsAccumulatedLosses 2024-03-31 05885409 core:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 05885409 core:PatentsTrademarksLicencesConcessionsSimilar 2024-04-01 2025-03-31 05885409 core:FurnitureFittings 2024-04-01 2025-03-31 05885409 core:ComputerEquipment 2024-04-01 2025-03-31 05885409 2023-10-01 2024-03-31 05885409 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 05885409 core:PatentsTrademarksLicencesConcessionsSimilar 2025-03-31 05885409 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 05885409 core:FurnitureFittings 2024-03-31 05885409 core:ComputerEquipment 2024-03-31 05885409 2024-03-31 05885409 core:CurrentFinancialInstruments 2025-03-31 05885409 core:CurrentFinancialInstruments 2024-03-31 05885409 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 05885409 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05885409 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05885409 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 05885409 bus:FRS102 2024-04-01 2025-03-31 05885409 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 05885409 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP