REGISTERED NUMBER: 10583935 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

POMELO GROUP LTD

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Directors' Responsibilities Statement

7

Report of the Independent Auditors

8

Consolidated Income Statement

12

Consolidated Balance Sheet

13

Company Balance Sheet

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Cash Flow Statement

18

Notes to the Consolidated Financial Statements

19

DIRECTORS:

T D'Hondt

E A Sagi

E Schreider

S M J Verraest

S J Vickers

L B Neo

REGISTERED OFFICE:

Gridiron Building

1 Pancras Square

London

N1C 4AG

REGISTERED NUMBER:

10583935 (England and Wales)

AUDITORS:

Macalvins Limited

Chartered Accountants

and Statutory Auditors

7 St John's Road

Harrow

Middlesex

HA1 2EY

The directors present their Strategic Report for the year ended 31 December 2024.

REVIEW OF BUSINESS

At Pomelo Group, our aim is to help businesses accept payments without the use of additional hardware. Our aim is to help them take payments across any of their customer touchpoints, with customers able to pay with whichever method they prefer.

In 2021, the Financial Conduct Authority ('FCA') granted Pomelo Group an authorised e-money institution licence. With this we have helped businesses in a much deeper way by reducing further frictions that exist in the payment ecosystem. As we continue into 2025 and beyond, our mission is to improve the lives of business owners through helping them access affordable financial services by deploying Pomelo’s solution via our clients.

PRINCIPAL RISKS AND UNCERTAINTIES

Macroeconomic risk

Pomelo Group's business is sensitive to global macroeconomic conditions as revenue is linked to the volume processed in each of the regions that we are deployed. During 2024, Pomelo was exposed to macroeconomic risks in some of the countries that we have deployed our solution. This exposure is limited to the speed of the rollout of our products and this affects the entire markets where this exposure exists.

Operational risk

As Pomelo Group is a growing company, the pace of growth means that there are operational risks where nearly all the employees hold key functions in order for the Group to provide an uninterrupted service. The Group has taken careful steps in assessing its operational capacity and the cost base required to meet these requirements.

Third party risk

Pomelo Group is reliant on a number of third parties such as payment processing, Know Your Customer/ Know Your Business ('KYC/KYB') services and foreign exchange services. The Group mitigates these risks through an assessment of all third parties including their financial and operational status. Senior management assesses on a regular basis whether our third parties pose a significant risk to the Group.

Funding risk

Pomelo Group is subject to market conditions when seeking external funding. The Group is exposed to the risk that the existing shareholders do not provide additional funding, however, they have provided additional funding when needed. To mitigate this, Pomelo Group has returned to profitability in 2025 and continue to deploy a strategy where the business growth is fuelled from retained earnings.

Foreign exchange risk

Pomelo Group operates in a number of countries and processes multi-currency payments. The Group has the appropriate hedging policies in place and monitors the potential exposures that could impact our operational finances.

PRINCIPAL RISKS AND UNCERTAINTIES

Directors' statement of compliance with duty to promote the success of the Group

The Directors of the Group must act in accordance with a set of general duties. These duties are detailed in section 172 of the UK Companies Act 2006 which is summarised as follows:

'A director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole and, in doing so have regard amongst other matters to:

- The likely consequences of any decisions in the long-term;

- The interests of the company's employees;

- The need to foster the company's business relationships with suppliers, customers and others;

- The impact of the company's operations on the community and environment;

- The desirability of the company maintaining a reputation for high standards of business conduct; and

- The need to act fairly as between shareholders of the Company.'

Pomelo Group's success is dependent on our relationships with our stakeholders. When making business decisions, the Board is mindful of its responsibilities under s172(1) of the Companies Act 2006 to promote the success of the company having regard to its range of stakeholders, as discussed below.

Likely consequences of any decision in the long term

Pomelo Group's Board of Directors and its committees consider the long-term potential consequences of any decision on its stakeholder groups and the same consideration is given by all the Group's businesses in different regions. The Board is provided on a regular basis with information regarding key decisions, material risks and business performance updates.

Interest of employees

Pomelo Group is an employee-led organisation globally. We have a strong emphasis on attracting, retaining and developing the most talented individuals and help them reach their potential. The Board of Directors and senior management are committed to creating a workplace that allows for employees to have career progression, a safe environment which promotes employee well-being and pay and benefits that are attractive in all regions that we operate.

The company's business relationships with suppliers, customers and others

Our customers

Our feature suite has been built through the feedback of the businesses that use us. Through this feedback our internal product and development teams build solutions in-house and we monitor our reviews through other customer interviews which informs the Directors' decision-making in what to prioritise.

Our partners and suppliers

Payments industry is highly interconnected and Pomelo Group prides itself on having strong relationships with our partners and suppliers, which the Board of Directors foster on an ongoing basis. We treat all our partners and suppliers fairly and openly.

Our investors

Our investors do more than support us financially and we value their advice and opinions as they are important to us. Directors communicate frequently with the companies management team on topics such as financial performance, funding updates, strategy and culture.

Impact of operations on the community and the environment

Under the direction of the Board, we work closely with our partners globally in ensuring that our operations impact the community and environment in a positive manner. Our product, by the nature of the problem we solve, is to help communities thrive especially in emerging markets where the difference we can make with small gains has huge impact in these communities.

Maintain a reputation for high standards of business conduct

We place high emphasis on maintaining the highest standard of business conduct with regulators, schemes and partners. We have and will continually invest in ensuring that we are compliant with all laws in the countries that we operate in and our Board of Directors monitors compliance with laws and regulation on an ongoing basis. We require that all employees complete appropriate annual trainings at all levels that is appropriate to their roles.

Act fairly as between members of company

Pomelo Group is committed to acting fairly with its members and being transparent in its activities and directions. Directors communicate frequently with the companies management team.

ON BEHALF OF THE BOARD:

S J Vickers - Director

27 December 2025

The directors present their report and the financial statements for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

Pomelo Group Ltd has created a payment infrastructure for financial institutions globally that helps businesses via the web and mobile application to accept payments both card present and card not present by combining Quick Response ('QR') and Near Field Communication ('NFC') technologies. We deploy our technology to banks where they deploy it in their respective markets.

Pomelo Group Ltd is authorised by the Financial Conduct Authority to provide payment services and issue electronic money (FCA reference number is 928018).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

T D'Hondt

E A Sagi

E Schreider

S M J Verraest

Other changes in directors holding office are as follows:

V K T Choi - resigned 28 March 2024

S J Vickers - appointed 3 June 2024

L B Neo - appointed 21 October 2024

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024 (2023: £nil).

RESULTS

The loss for the year, after taxation, amounted to £1,359,061 (2023 - Loss £637,870).

GOING CONCERN

During the year, the Group made total comprehensive losses of £1,359,061 (2023 - £637,870). Despite this, the directors have thoroughly evaluated the Group's capacity to continue as a going concern.

This evaluation is based on positive trading results subsequent to the year-end, as well as the Group's robust cash flow and regulatory capital forecasts. Our operational strategies, particularly the reinforcement of key teams, are designed not only to sustain our current operations but to build a platform for consistent growth, taking into consideration potential adverse conditions.

The directors have a justified confidence that the Group will have adequate funds to discharge their liabilities as they fall due for a minimum period of 12 months from the date these financial statements are authorised.

The preparation of the financial statements on a going concern basis reflects this confidence. Moreover, the directors are optimistic about the Group as it has recently expanded into new markets through our clients, which strengthens our belief in the operational robustness and capital sufficiency required to fulfil our contractual commitments.

The latter half of 2024 marked a return to profitability for the group which has extended into Q1 2025.

Additionally, the entity received $3.9m of external venture capital funding between June and October 2024 providing further strength to the going concern basis.

The directors are bolstered by this positive momentum, which is consistent with our cash flow forecasts and strategic business objectives. The alignment of this progress with our projections reinforces our confidence in the Group's operational sustainability and financial viability.

FUTURE DEVELOPMENTS

Looking forward into 2025 and beyond, Pomelo Group Ltd’s priority future developments are as follows:

- Investment into existing operations to increase the capacity of the operating model to meet the growing demands from our clients;

- Further optimisation of the cost base to maximise efficiencies in our operating model as the Group looks to roll out its offering into new geographies.

- Fundraise towards the end of 2025 if market conditions are favourable to continually fuel our growth and expansion across the region.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

Details provided in the Strategic Report.

MATTERS COVERED IN THE GROUP STRATEGIC REPORT

Where necessary, disclosures relating to principal risks & uncertainties have been made in the Strategic Report and have not been repeated here in accordance with Section 414C of the Companies Act 2006.

DISCLOSURE OF INFORMATION TO AUDITOR

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditor is unaware; and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditor is aware of that information.

AUDITORS

The auditor, Macalvins, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S J Vickers - Director

27 December 2025

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies for the Group's financial statements and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Opinion

We have audited the financial statements of Pomelo Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report, the Report of the Directors and the Directors' Responsibilities Statement, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page seven, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Based on our understanding of the company, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation and anti-money laundering regulation.

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:

" Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;

" Inspecting correspondence, if any, with relevant licensing or regulatory authorities;

" Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and

" Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation and the Companies Act 2006.

In addition, we evaluated the directors' and management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to research and development costs capitalized and to impairment of non-current assets, revenue recognition (which we pinpointed to the cut-off) and significant one-off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:

" Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;

" Gaining an understanding of the internal controls established to mitigate risks related to fraud;

" Discussing amongst the engagement team the risks of fraud; and

" Addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

The risks of material misstatement that had the greatest effect on our audit is the going concern.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditors responsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Shailesh Patel (Senior Statutory Auditor)

for and on behalf of Macalvins Limited

Chartered Accountants

and Statutory Auditors

7 St John's Road

Harrow

Middlesex

HA1 2EY

29 December 2025

TURNOVER

3

5,339,169

3,703,940

Cost of sales

3,295,769

1,825,601

GROSS PROFIT

2,043,400

1,878,339

Administrative expenses

3,380,444

2,425,060

(1,337,044

)

(546,721

)

Other operating income

43,848

46,076

OPERATING LOSS

(1,293,196

)

(500,645

)

Interest payable and similar expenses

41,057

126,742

LOSS BEFORE TAXATION

(1,334,253

)

(627,387

)

Tax on loss

6

24,808

10,483

LOSS FOR THE FINANCIAL YEAR

(1,359,061

)

(637,870

)

Loss attributable to:

Owners of the parent

(1,359,061

)

(637,870

)

FIXED ASSETS

Tangible assets

8

8,901

19,543

Investments

9

-

-

8,901

19,543

CURRENT ASSETS

Debtors

10

542,652

1,269,376

Cash at bank

1,897,622

84,925

2,440,274

1,354,301

CREDITORS

Amounts falling due within one year

11

330,264

1,078,814

NET CURRENT ASSETS

2,110,010

275,487

TOTAL ASSETS LESS CURRENT LIABILITIES

2,118,911

295,030

CREDITORS

Amounts falling due after more than one year

12

310,207

880,621

NET ASSETS/(LIABILITIES)

1,808,704

(585,591

)

CAPITAL AND RESERVES

Called up share capital

14

739,549

461,828

Share premium Account

10,976,497

9,238,933

Other reserves

1,872,569

269,601

Retained earnings

(11,779,911

)

(10,555,953

)

1,808,704

(585,591

)

The financial statements have been prepared 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 27 December 2025 and were signed on its behalf by:

S J Vickers - Director

FIXED ASSETS

Tangible assets

8

2,633

3,758

Investments

9

1,933,862

1,995,438

1,936,495

1,999,196

CURRENT ASSETS

Debtors

10

675,529

1,347,329

Cash at bank

1,893,902

83,771

2,569,431

1,431,100

CREDITORS

Amounts falling due within one year

11

224,380

901,725

NET CURRENT ASSETS

2,345,051

529,375

TOTAL ASSETS LESS CURRENT LIABILITIES

4,281,546

2,528,571

CREDITORS

Amounts falling due after more than one year

12

1,272,261

1,557,202

NET ASSETS

3,009,285

971,369

CAPITAL AND RESERVES

Called up share capital

14

739,549

461,828

Share premium Account

10,976,497

9,238,933

Other reserves

1,872,569

269,601

Retained earnings

(10,579,330

)

(8,998,993

)

3,009,285

971,369

Company's loss for the financial year

(1,709,958

)

(1,251,743

)

The financial statements have been prepared 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 27 December 2025 and were signed on its behalf by:

S J Vickers - Director

Called up

Share

share

Retained

premium

Other

Total

capital

earnings

Account

reserves

equity

£

£

£

£

£

Balance at 1 January 2023

390,726

(10,002,835

)

8,692,321

269,601

(650,187

)

Changes in equity

Deficit for the year

-

(637,870

)

-

-

(637,870

)

Other comprehensive income

-

84,752

-

-

84,752

Total comprehensive income

-

(553,118

)

-

-

(553,118

)

Issue of share capital

71,102

-

546,612

-

617,714

Total transactions with owners, recognised directly in equity

71,102

-

546,612

-

617,714

Balance at 31 December 2023

461,828

(10,555,953

)

9,238,933

269,601

(585,591

)

Changes in equity

Deficit for the year

-

(1,359,061

)

-

-

(1,359,061

)

Other comprehensive income

-

135,103

-

-

135,103

Total comprehensive income

-

(1,223,958

)

-

-

(1,223,958

)

Issue of share capital

277,721

-

1,737,564

-

2,015,285

Increase in share capital

-

-

-

143,997

143,997

Share app. pending allotment

-

-

-

1,458,971

1,458,971

Total transactions with owners, recognised directly in equity

277,721

-

1,737,564

1,602,968

3,618,253

Balance at 31 December 2024

739,549

(11,779,911

)

10,976,497

1,872,569

1,808,704

Called up

Share

share

Retained

premium

Other

Total

capital

earnings

Account

reserves

equity

£

£

£

£

£

Balance at 1 January 2023

390,726

(7,747,250

)

8,692,321

269,601

1,605,398

Changes in equity

Deficit for the year

-

(1,251,743

)

-

-

(1,251,743

)

Total comprehensive income

-

(1,251,743

)

-

-

(1,251,743

)

Issue of share capital

71,102

-

546,612

-

617,714

Total transactions with owners, recognised directly in equity

71,102

-

546,612

-

617,714

Balance at 31 December 2023

461,828

(8,998,993

)

9,238,933

269,601

971,369

Changes in equity

Deficit for the year

-

(1,709,958

)

-

-

(1,709,958

)

Other comprehensive income

-

129,621

-

-

129,621

Total comprehensive income

-

(1,580,337

)

-

-

(1,580,337

)

Issue of share capital

277,721

-

1,737,564

-

2,015,285

Increase in share capital

-

-

-

143,997

143,997

Share app. pending allotment

-

-

-

1,458,971

1,458,971

Total transactions with owners, recognised directly in equity

277,721

-

1,737,564

1,602,968

3,618,253

Balance at 31 December 2024

739,549

(10,579,330

)

10,976,497

1,872,569

3,009,285

Cash flows from operating activities

Cash generated from operations

1

(1,793,805

)

(717,793

)

Interest paid

(41,057

)

(126,742

)

Tax paid

(24,808

)

(10,483

)

Net cash from operating activities

(1,859,670

)

(855,018

)

Cash flows from investing activities

Purchase of tangible fixed assets

(128

)

-

Sale of tangible fixed assets

193

6,005

Net cash from investing activities

65

6,005

Cash flows from financing activities

Amount withdrawn by directors

(81,054

)

-

Share issue

277,721

617,713

Share premium

1,737,565

-

Share money received pending allotment

1,458,971

-

Net cash from financing activities

3,393,203

617,713

Increase/(decrease) in cash and cash equivalents

1,533,598

(231,300

)

Cash and cash equivalents at beginning of year

2

84,925

231,473

Effect of foreign exchange rate changes

279,099

84,752

Cash and cash equivalents at end of year

2

1,897,622

84,925