Contents of the Financial Statements

for the Period Ended 31 May 2025

Directors' report period ended 31 May 2025

The directors present their report with the financial statements of the company for the period ended 31 May 2025

Directors

The directors shown below have held office during the whole of the period from
1 June 2024 to 31 May 2025

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
20 December 2025

And signed on behalf of the board by:
Name: Najib Nathoo
Status: Director

Profit And Loss Account

for the Period Ended 31 May 2025

Balance sheet

As at 31 May 2025

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 May 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 May 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.

  Tangible fixed assets depreciation policy

  Tangible fixed assets depreciation policy Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Rental assets (televisions) 4 years straight line method; Rental assets (mobile and tablets) 18 months straight line method; Rental assets (white goods ) 5 years straight line method; Office equipment 5 years straight line method. The assets residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication ofa significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  Other accounting policies

  Going Concern At 31 May 2025 the company was in a net liability position of £9.2m. These financial statements have been prepared on a going concern basis. This assessment assumed the continuation of support from the senior secured creditor. The company continues to consider options including refinancing, sale, or an orderly wind-down process. The financial statements do not include any adjustments that would result from a withdrawal of this support. Post Balance Sheet Events In July 2025 the Company ceased originating new customer contracts and notified the FCA that it is pursuing an orderly wind-down of the business with the support of the senior secured creditor. The wind-down plan is designed to safeguard customer outcomes, maintain regulatory compliance (including complaint handling) and provide for data retention and decommissioning. At the date of approval of these financial statements, the directors’ forecasts indicate the Company can meet its obligations as they fall due during the wind-down, subject to the continuing support of the senior secured creditor and related party creditors. The directors continue to keep alternative options (including refinancing or asset sale) under review. This is treated as a non-adjusting event after the reporting period.

Notes to the Financial Statements

for the Period Ended 31 May 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	43	49