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Registered number: 08315922
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 DECEMBER 2025
| PROPLEND LTD
PROPLEND LTD |  |
COMPANY INFORMATION
Directors | B A Bartaby
| M Carson
| B Storey
| J Oakley
Registered number | 08315922
Registered office | 20-22 Wenlock Road
| London
| N1 7GU
Accountants | Menzies LLP
| Chartered Accountants
| Victoria House
| 50-58 Victoria Road
| Farnborough
| Hampshire
| GU14 7PG
PROPLEND LTD |  |
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 8
PROPLEND LTD REGISTERED NUMBER:08315922 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 4,448 |  | 4,894
Investments | 5 |  | 2 |  | 2
|  |  | 4,450 |  | 4,896
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 235,655 |  | 24,801 |
Current asset investments | 7 | 110,435 |  | 96,000 |
Cash at bank and in hand |  | 726,785 |  | 840,373 |
|  | 1,072,875 |  | 961,174 |
Creditors: amounts falling due within one year | 8 | (68,083) |  | (70,662) |
Net current assets |  |  | 1,004,792 |  | 890,512
Total assets less current liabilities |  |  | 1,009,242 |  | 895,408
Creditors: amounts falling due after more than one year | 9 |  | - |  | (3,499)
Net assets |  |  | 1,009,242 |  | 891,909
Capital and reserves |  |  |  |  |
Allotted, called up and fully paid share capital | 10 |  | 180 |  | 180
Share premium account |  |  | 4,290,611 |  | 4,290,611
Other reserves |  |  | 22,465 |  | 22,465
Profit and loss account |  |  | (3,304,014) |  | (3,421,347)
|  |  | 1,009,242 |  | 891,909
Page 1
PROPLEND LTD REGISTERED NUMBER:08315922 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025 The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the Board and were signed on its behalf by:
................................................ B A Bartaby
Director
Date: 15 April 2026
The notes on pages 3 to 8 form part of these financial statements. Page 2
PROPLEND LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Proplend Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales. The address of the registered office, which is also the principal place of business, is disclosed on the company information page. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Going concern
The financial statements are prepared on a going concern basis as the Directors are confident that the Company has the ability to sustain business operations for at least the next 12 months from the financial statements' approval date. The going concern assessment is based on the comprehensive forecast prepared by management and approved by the Board. As part of the going concern review, the Directors have considered severe but plausible downside scenarios to evaluate the business's sustainability and its ability to meet its regulatory capital and liquidity requirements. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements, despite the negative position of the profit and loss account.
| 2.4 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP, which has been rounded to the nearest pound sterling. 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. Page 3
PROPLEND LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.5 | Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
| 2.6 | 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.
| 2.7 | 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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.8 | Share-based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period. Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
| 2.9 | Taxation
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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Page 4
PROPLEND LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | 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. Depreciation is provided on the following basis:
|  |  |  | Fixtures, fittings and computer equipment | - | 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.
| 2.11 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted company loans are measured at cost.
| 2.12 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
3. | Employees
| The average monthly number of employees, including Directors, during the year was 12 (2024 - 15).
Page 5
PROPLEND LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Tangible fixed assets
|  | Fixtures, fittings and computer equipment
|  | £
| Cost or valuation |
| At 1 January 2025 | 35,662
| Additions | 1,416
| At 31 December 2025 | 37,078
| Depreciation |
| At 1 January 2025 | 30,768
| Charge for the year | 1,862
| At 31 December 2025 | 32,630
| Net book value |
| At 31 December 2025 | 4,448
| At 31 December 2024 | 4,894
5. | Fixed asset investments
|  | Investment in subsidiaries
|  | £
| Cost or valuation |
| At 1 January 2025 | 2
| At 31 December 2025 | 2
Page 6
PROPLEND LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 199,218 | 2,700
| Prepayments and accrued income | 36,437 | 22,101
|  | 235,655 | 24,801
7. | Current asset investments
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Loan investments | 110,435 | 96,000
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 3,499 | 6,000
| Trade creditors | 14,558 | 13,867
| Other taxation and social security | 30,648 | 28,053
| Other creditors | 4,133 | 6,466
| Accruals | 15,245 | 16,276
|  | 68,083 | 70,662
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 3,499
Page 7
PROPLEND LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1,804,497 (2024 -1,804,497) Ordinary shares of £0.0001 each | 180 | 180
11. | Commitments under operating leases
| At 31 December 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 | 31,080 | 41,440
| Later than 1 year and not later than 5 years | - | 31,080
|  | 31,080 | 72,520
Page 8