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Registered number: 03703075 NATIVE DESIGN LIMITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
NATIVE DESIGN LIMITED
COMPANY INFORMATION
Directors | M V Warren
| M A Hoggarth
| P J Warren
| A J Hayes (appointed 13 February 2026)
Registered number | 03703075
Registered office | 5 Garden Walk
| London
| EC2A 3EQ
Independent auditors | HaysMac LLP
| 10 Queen Street Place
| London
| EC4R 1AG
NATIVE DESIGN LIMITED
CONTENTS
| Page
Directors' Report | 1 - 2
Independent Auditors' Report | 3 - 6
Statement of Comprehensive Income | 7
Balance Sheet | 8
Statement of Changes in Equity | 9
Notes to the Financial Statements | 10 - 22
NATIVE DESIGN LIMITED
DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2025 The directors present their report and the financial statements for the year ended 31 March 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Directors' Report and the 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 of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and dividends
The profit for the year, after taxation, amounted to £1,234,353 (2024 - £717,682). There were no dividends proposed (2024: £nil) in the year.
Directors
The directors who served during the year were: M V Warren M A Hoggarth P J Warren
Strategic report
The Company has taken advantage of the exemption under section 414A(3) of the Companies Act 2006 from preparing its own strategic report. The strategic report for the year ended 31 March 2025 is included in the consolidated strategic report of its parent company, Auralia Limited , which is available from its registered office at 5 Moore Street, London, England, SW3 2QN.
Future developments
The Company plans to continue in the same course of business Page 1
NATIVE DESIGN LIMITED
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Disclosure of information to auditors
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's auditors are 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's auditors are aware of that information.
Post balance sheet events
There have been no significant events affecting the Company since the year end.
Auditors
The auditors, HaysMac LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 31 March 2026 and signed on its behalf.
M V Warren Director
Page 2
NATIVE DESIGN LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NATIVE DESIGN LIMITED
Opinion
We have audited the financial statements of Native Design Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, 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 Company's affairs as at 31 March 2025 and of its profit 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 Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 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. Page 3
NATIVE DESIGN LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NATIVE DESIGN LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Directors' Report has 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 Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the 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.
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page 1, 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 is 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 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 Company or to cease operations, or have no realistic alternative but to do so. Page 4
NATIVE DESIGN LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NATIVE DESIGN LIMITED (CONTINUED)
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 an Auditors' Report 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. 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to regulatory requirements for the business and trade regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, income tax, payroll tax and sales tax. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included: ∙inspecting correspondence with regulators and tax authorities; ∙discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; ∙evaluating management's controls designed to prevent and detect irregularities; ∙identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and ∙challenging assumptions and judgements made by management in their critical accounting estimates. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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/auditorsresponsibilities. This description forms part of our Auditors' Report. Page 5
NATIVE DESIGN LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NATIVE DESIGN LIMITED (CONTINUED)
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 an Auditors' Report 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. William Winstone (Senior Statutory Auditor) for and on behalf of HaysMac LLP Statutory Auditors 10 Queen Street Place London EC4R 1AG 7 April 2026 Page 6
NATIVE DESIGN LIMITED
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 9,051,612 | 8,314,723
Cost of sales |  | (5,153,489) | (4,852,231)
Gross profit |  | 3,898,123 | 3,462,492
Administrative expenses |  | (2,710,434) | (2,833,653)
Other operating income | 5 | 677,314 | -
Fair value movements |  | (222,062) | -
Operating profit | 6 | 1,642,941 | 628,839
Interest receivable and similar income | 9 | 32,109 | 2,574
Other finance income |  | 71,069 | 39,945
Profit before tax |  | 1,746,119 | 671,358
Tax on profit | 10 | (511,766) | 46,324
Profit for the financial year |  | 1,234,353 | 717,682
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 10 to 22 form part of these financial statements.
Page 7
NATIVE DESIGN LIMITED REGISTERED NUMBER:03703075
BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 11 |  | 128,229 |  | 127,539
|  |  | 128,229 |  | 127,539
Current assets |  |  |  |  |
Debtors: Amounts falling due within one year | 12 | 5,801,501 |  | 3,403,468 |
Current asset investments | 13 | 159,992 |  | 2,433,435 |
Cash at bank and in hand |  | 2,227,971 |  | 636,306 |
|  | 8,189,464 |  | 6,473,209 |
Creditors: Amounts Falling Due Within One Year | 15 | (1,885,140) |  | (1,402,548) |
Net current assets |  |  | 6,304,324 |  | 5,070,661
Total assets less current liabilities |  |  | 6,432,553 |  | 5,198,200
Net assets |  |  | 6,432,553 |  | 5,198,200
Capital and reserves |  |  |  |  |
Called up share capital | 17 |  | 153 |  | 153
Profit and loss account | 18 |  | 6,432,400 |  | 5,198,047
|  |  | 6,432,553 |  | 5,198,200
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M V Warren
Director
Date: 31 March 2026
The notes on pages 12 to 23 from part of these financial statements.
Page 8
NATIVE DESIGN LIMITED
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2023 | 153 | 4,480,365 | 4,480,518
Profit for the year | - | 717,682 | 717,682
At 1 April 2024 | 153 | 5,198,047 | 5,198,200
Profit for the year | - | 1,234,353 | 1,234,353
At 31 March 2025 | 153 | 6,432,400 | 6,432,553
| The notes on pages 10 to 22 form part of these financial statements.
Page 9
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
The Company is a private company limited by shares, registered in England and Wales. The address of the registered office and trading address is 5 Garden Walk, London, EC2A 3EQ. The Company's registration number is 03703075. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23; ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Auralia Ltd as at 31 March 2025 and these financial statements may be obtained from Companies House.
| 2.3 | Going concern
The accounts have been prepared on a going concern basis. The directors in their assessment of going concern have reviewed forecasts and projections of this company, the parent company and the wider group, to confirm the appropriateness and validity of the support provided for the foreseeable future. They believe they are able to meet any obligations as and when they fall due and as such have prepared the accounts on a going concern basis. Page 10
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Revenue
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.
| 2.5 | Tangible fixed assets
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, on a straight line and reducing balance method. Depreciation is provided on the following basis:
|  |  |  | Short-term leasehold property | - | 10% straight line
|  |  |  | Plant and machinery | - | 20% straight line
|  |  |  | Motor vehicles | - | 25% straight line
|  |  |  | Office equipment | - | 20-25% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a 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. Page 11
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
| 2.7 | Debtors
Short term debtors are measured at transaction price, less any impairment.
| 2.8 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 12
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.11 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.12 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 13
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.13 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. (i) Significant judgements No critical accounting judgement were made by management in the process of applying the company’s accounting policies that have a significant effect on amounts recognised in the financial statements. (ii) Key sources of estimation uncertainty. No critical sources of estimation uncertainty were made by management in the process of applying the company’s accounting policies that have a significant effect on the amounts recognised in the financial statements, other than the following: R&D tax credits have been accounted for on the accruals basis. Where the tax return has not been submitted at the time of preparing the financial statements, a provision is made for the expected R&D tax credit receivable. Page 14
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Rendering of Services | 9,051,612 | 8,314,723
Analysis of turnover by country of destination:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 147,346 | 427,343
| Rest of Europe | 1,452,327 | 373,941
| Rest of the world | 7,451,939 | 7,513,439
|  | 9,051,612 | 8,314,723
5. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other operating income | 677,314 | -
|  | 677,314 | -
6. | Operating profit
| The operating profit is stated after charging/(crediting):
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation | 55,465 | 52,401
| Exchange differences | (9,348) | 898
| Other operating lease rentals | 3,259 | 4,988
| Share-based payment | - | 19,650
| Auditors remuneration | 30,203 | 37,150
Page 15
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 4,498,555 | 4,229,165
| Social security costs | 557,943 | 517,698
| Cost of defined contribution scheme | 206,403 | 228,368
|  | 5,262,901 | 4,975,231
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Production and adminstrative Staff | 63 | 69
| The Key Management Personnel are considered to be 3 (2024: 3) senior employees who are also directors. Total remuneration in respect of these employees was £768,720 (2024: £683,446).
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 768,720 | 683,446
| Company contributions to defined contribution pension schemes | 24,061 | 24,061
|  | 792,781 | 707,507
| During the year retirement benefits were accruing to 3 directors (2024 - 3) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £626,250 (2024 - £460,910).
| The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £16,225 (2024 - £16,225).
9. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | 32,109 | 2,574
Page 16
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 515,569 | (17,849)
|  | 515,569 | (17,849)
| Total current tax | 515,569 | (17,849)
| Deferred tax |  |
| Origination and reversal of timing differences | (3,803) | (28,475)
| Total deferred tax | (3,803) | (28,475)
|  | 511,766 | (46,324)
| Factors affecting tax charge for the year
| The tax assessed for the year is the same as (2024 - the same as) the standard rate of corporation tax in the UK of 25% (2024 - 25%) as set out below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 1,746,119 | 671,358
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 436,530 | 167,840
| Effects of: |  |
| Fixed asset differences | 80 | 107
| Expenses not deductible for tax purposes | 65,917 | 36,510
| Additional deduction for R&D expenditure | - | (124,978)
| Adjustments to tax charge in respect of R&D credits | (11,806) | 79,202
| Movement in deferred tax not recognised | 4,446 | (26,175)
| Adjustments in respect of previous periods | 16,599 | (178,830)
| Total tax charge for the year | 511,766 | (46,324)
| Factors that may affect future tax charges
There were no factors that may affect future tax charges. Page 17
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Office equipment | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 April 2024 | 171,944 | 29,734 | 1,085,346 | 1,287,024
| Additions | 8,750 | - | 50,855 | 59,605
| Disposals | - | - | (12,087) | (12,087)
| At 31 March 2025 | 180,694 | 29,734 | 1,124,114 | 1,334,542
| Depreciation |  |  |  |
| At 1 April 2024 | 161,869 | 29,734 | 967,882 | 1,159,485
| Charge for the year | 4,345 | - | 51,120 | 55,465
| Disposals | - | - | (8,637) | (8,637)
| At 31 March 2025 | 166,214 | 29,734 | 1,010,365 | 1,206,313
| Net book value |  |  |  |
| At 31 March 2025 | 14,480 | - | 113,749 | 128,229
| At 31 March 2024 | 10,075 | - | 117,464 | 127,539
Page 18
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
12. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,856,784 | 1,613,015
| Amounts owed by group undertakings | 3,001,815 | 1,494,206
| Amounts owed by related undertakings | 157,940 | 11,725
| Other debtors | 64,899 | 180,382
| Prepayments and accrued income | 600,364 | 259,764
| Tax recoverable | 89,727 | (181,793)
| Deferred taxation | 29,972 | 26,169
|  | 5,801,501 | 3,403,468
13. | Current asset investments
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Listed investments | 159,992 | 2,433,435
14. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 2,227,971 | 636,306
|  | 2,227,971 | 636,306
15. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 130,596 | 135,377
| Amounts owed to related undertakings | 605,829 | 455,190
| Other taxation and social security | 128,895 | 137,154
| Other creditors | 390,266 | 390,001
| Accruals and deferred income | 629,554 | 284,826
|  | 1,885,140 | 1,402,548
Page 19
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
16. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 26,169 | (2,306)
| Utilised in year | 3,803 | 28,475
| At end of year | 29,972 | 26,169
| The deferred tax asset is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | - | (2,306)
| Fixed asset timing differences | (12,132) | (6,527)
| Short term timing differences | 42,104 | 35,002
|  | 29,972 | 26,169
Page 20
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
17. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 10,000 (2024 - 10,000) Ordinary shares of £ 00001.- each | 1 | 1
|  | 1,500,000 (2024 - 1,500,000) Ordinary 'A' shares of £ 0.0001- each | 150 | 150
|  | 16,522 (2024 - 16,500) Ordinary 'B' shares of £ 0.0001- each | 2 | 2
|  |  | 153 | 153
18. | Reserves
Profit and loss account Called-up share capital – represents the nominal value of shares that have been issued. Profit and loss account – this reserve records retained earnings and accumulated losses.
19. | Pension commitments
At 31 March 2025, Native Design Limited owed £28,173 (2024: £55,568) to a defined contribution pension scheme. This was subsequently paid post year-end.
20. | Commitments under operating leases
| At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 2,425 | 2,425
| Later than 1 year and not later than 5 years | 7,276 | 9,701
|  | 9,701 | 12,126
Page 21
NATIVE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
21. | Related party transactions
| Native Design Ltd entered into sales transactions totalling £9,180 (2024: £1,012,159) with Native Design LLC, a company in which Morten Warren is a director and shareholder. Native Design Ltd also entered into transactions totalling £29,215 (2024: £89,284) with Zuma Array Ltd, and made a payment of £117,770. At the year-end, Zuma Array Ltd owed the Compnay £146,215. The year-end Loan balance includes amounts due to Native Design LLC £605,829 (2024: £455,190). Zuma Array Ltd and Zuma Array LLC are both companies controlled by Morten Warren who is a director of both entities. Zuma Array Limited is wholly owned by Zuma Array Holdings Limited and Morten Warren is the majority shareholder of Zuma Array Holdings Limited. At the year-end, Debtors include amounts due from Zuma Array LLC of £11,724 (2024: £11,724) and amounts due from Zuma Array Ltd of £146,215 (2024: £nil). These are in relation to expenses paid on behalf of the two companies, as well as cash advances made.
22. | Post balance sheet events
On 24 November 2025, the company’s immediate parent undertaking changed from Auralia Limited to Viggo Holdings Limited following the sale of all shares. This event occurred after the balance sheet date and therefore has not been adjusted in these financial statements.
23. | Controlling party
The immediate and ultimate parent company is Auralia Limited, a company registered in England and Wales, in which these accounts are consolidated within. The largest and smallest group in which the results of the Company are consolidated is Auralia Limited, the ultimate parent company. The consolidated financial statements of Auralia Limited may be obtained from Companies House. The ultimate controlling party is the managing director M V Warren. Subsequent to the yearend, there was a change in the company’s ownership. Further details are provided in note 22 (Post balance sheet events).
Page 22