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COMPANY REGISTRATION NUMBER: 10991155

Evariste Limited

Filleted Unaudited Financial Statements

31 October 2025

Evariste Limited

Financial Statements

Year ended 31 October 2025

Contents | Page

Officers and professional advisers | 1

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements | 2

Statement of financial position | 3

Notes to the financial statements | 5

Evariste Limited

Officers and Professional Advisers

The board of directors | N C Firth
| A L Hercot
| X Jacq
| O Rossanese
| Dr Z S Walters
| Prof. M Waring
| O Watson

Company secretary | Oakwood Corporate Secretary Limited

Registered office | 3rd Floor
| 1 Ashley Road
| Altrincham
| Cheshire
| WA14 2DT

Accountants | Complete Accounting Solutions
| Chartered Certified Accountants
| 727-729 High Road
| London
| N12 0BP

Evariste Limited

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Evariste Limited

Year ended 31 October 2025
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 October 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP

Evariste Limited

Statement of Financial Position

31 October 2025

| 2025 | 2024
Note | £ | £

Current assets

Debtors | 5 | 24,885 | 54,093
Cash at bank and in hand | 329,447 | 511,397
| --------- | ---------
| 354,332 | 565,490

Creditors: amounts falling due within one year | 6 | 118,485 | 125,403
| --------- | ---------
Net current assets | 235,847 | 440,087
| --------- | ---------
Total assets less current liabilities | 235,847 | 440,087

Creditors: amounts falling due after more than one year | 7 | 3,447,451 | 3,228,701
| ------------ | ------------
Net liabilities | ( 3,211,604) | ( 2,788,614)
| ------------ | ------------

Capital and reserves

Called up share capital | 12,829 | 12,829
Share premium account | 2,959,507 | 2,959,486
Share options reserve | 20,026 | 25,616
Profit and loss account | ( 6,203,966) | ( 5,786,545)
| ------------ | ------------
Shareholders deficit | ( 3,211,604) | ( 2,788,614)
| ------------ | ------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Evariste Limited

Statement of Financial Position (continued)

31 October 2025
These financial statements were approved by the board of directors and authorised for issue on 6 February 2026 , and are signed on behalf of the board by:

O Watson
Director

Company registration number: 10991155

Evariste Limited

Notes to the Financial Statements

Year ended 31 October 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Research and development
Research and development expenditure is written off in the period in which it is incurred.
Going concern
In our opinion, on the basis of information and enquiries that are pertinent to the company's circumstances and which we believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular we believe that adequate cash resources will be available to cover the company's requirements for working capital for at least twelve months from the date of signing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satisfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately. Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2024: 14 ).
5. Debtors

| 2025 | 2024
| £ | £
Other debtors | 24,885 | 54,093
| -------- | --------

6. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Social security and other taxes | 13,120 | 25,858
Other creditors | 105,365 | 99,545
| --------- | ---------
| 118,485 | 125,403
| --------- | ---------

7. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Other creditors | 3,447,451 | 3,228,701
| ------------ | ------------

Included within other creditors is £3,125,000 (2023 : £3,125,000) of convertible debt .
8. Share-based payments
The company runs a EMI and non-EMI share option scheme for 12 employees. Vested options at each balance sheet date are expensed to the profit and loss account based upon the weighted average exercise price.