REGISTERED NUMBER: 12747948 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ELEVATE OPERATIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

A Garrett

D Mattock

S Robinson

B Rayment

Registered office:

The Landmark

Tudor Square

West Bridgford

Nottingham

NG2 6BT

Registered number:

12747948 (England and Wales)

Accountants:

TC Group

10 Stadium Business Court

Millennium Way

Pride Park

Derby

Derbyshire

DE24 8HP

Fixed assets

Intangible assets

4

57,438

-

Current assets

Debtors

5

2,022,781

120,000

Cash at bank

3,980

1

2,026,761

120,001

Creditors

Amounts falling due within one year

6

(3,817,703

)

(120,000

)

Net current (liabilities)/assets

(1,790,942

)

1

Total assets less current liabilities

(1,733,504

)

1

Creditors

Amounts falling due after more than one year

7

(35,527

)

-

Net (liabilities)/assets

(1,769,031

)

1

Capital and reserves

Called up share capital

8

1

1

Retained earnings

(1,769,032

)

-

Shareholders' funds

(1,769,031

)

1

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

The members have not required the company to obtain an audit of its financial statements for the year 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

A Garrett - Director

1.	STATUTORY INFORMATION

Elevate Operations 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The company is a member of a group of associated companies and operates as a cost centre providing services to the other associated companies. As such, the company is dependent on the continuing financial support of its parent undertaking and other fellow associated companies.

In assessing going concern, the directors have considered the associated group's cash flow forecasts and the availability of funding between those companies. The forecasts demonstrate that the group of associated companies have adequate resources to continue in operational existence for the foreseeable future. In addition, the directors have received confirmation from the parent company that it will continue to provide such financial support as is necessary for the company to meet its liabilities as they fall due 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, and these financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

Cost

Additions

71,798

At 31 December 2024

71,798

Amortisation

Amortisation for year

14,360

At 31 December 2024

14,360

Net book value

At 31 December 2024

57,438

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

2,022,781

120,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

58,509

-

Other creditors

3,759,194

120,000

3,817,703

120,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

35,527

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

1

1

1

9.	RELATED PARTY DISCLOSURES

Included in Other Debtors is £981,945 due from WTSG PTE Ltd and £13,793 due from Everpay Canada Inc, for which Jack Horton was a director and shareholder at the balance sheet date.

Included in Other Creditors is £3,581,703 due to WTUK Ltd, £5,743 due to Elevate Holdings Ltd and £25,115 due to Clearing US Inc, for which Jack Horton was a director and shareholder at the balance sheet date.

A balance of £120,000 owed from Whites Asset Management Ltd, for which Jack Horton was a director and shareholder at the balance sheet date, has been written off in the period.

10.	ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking and ultimate controlling parent undertaking is Elevate Holdings Ltd, a company registered in Isle of Man, registration number 020614V.