Source 1 Solutions Europe Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 09471691

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1,990,141		-

			1,990,141		-
CURRENT ASSETS
Debtors	5	128,674		10,841
Cash at bank and in hand		12,376		34,213

		141,050		45,054
Creditors: Amounts Falling Due Within One Year	6	(2,056,562 )		(954,224 )

NET CURRENT ASSETS (LIABILITIES)			(1,915,512 )		(909,170 )

TOTAL ASSETS LESS CURRENT LIABILITIES			74,629		(909,170 )

Creditors: Amounts Falling Due After More Than One Year	7		(1,324,250 )		-

NET LIABILITIES			(1,249,621 )		(909,170 )

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			(1,249,622 )		(909,171 )

SHAREHOLDERS' FUNDS			(1,249,621)		(909,170)

Page 1

Page 2

Source 1 Solutions Europe Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

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

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Sean Colpoys

Director

10/04/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Source 1 Solutions Europe Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09471691 . The registered office is 400 Thames Valley Park, Reading, Berkshire, RG6 1PT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.

The financial statements have been prepared on a going concern basis even through at the balance sheet date the company had net (liabilities) amounting to (£1,249,621) 2023: (£909,170) and incurred a net (loss) after tax of (£340,451) 2023 (£454,034).

The directors have concluded that a material uncertainly exists that cast’s significant doubt

upon the company's ability to continue as a going concern and that, therefore, the company

may be unable to realise its assets and discharge its liabilities in the normal course of

business.

However, the shareholders have expressed their willingness to provide financial support for

the next 12 months as from the date of approval of the financial statements in order for the

company to meet its current liabilities, therefore the directors continue to adopt the going

concern basis of accounting.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.5. 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 is 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 to ... on a straight line basis over their expected useful economic lives, which range from ... to ... 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.

Page 3

Page 4

Source 1 Solutions Europe Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows:2

3 (2023: 3)

4. Intangible Assets

	Goodwill	Development Costs	Total
	£	£	£
Cost
As at 1 January 2024	-	-	-
Additions	1,583,344	406,797	1,990,141

As at 31 December 2024	1,583,344	406,797	1,990,141

Net Book Value
As at 31 December 2024	1,583,344	406,797	1,990,141

As at 1 January 2024	-	-	-

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	14,872	9,108
Other debtors	-	7,311
Prepaid vend support contract	3,452	7,030
Loans- Staff Loans	70,000	-
Loan to You Call - Working Capital	53,134	-
Security Deposits	1,613	-
VAT	-	1,397
Called up share capital not paid	1	1
Due from EMEA	(14,398 )	(14,006 )

	128,674	10,841

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	2,113	18,809
Other taxes and social security	6,010	13,218
VAT	780	-
Retained P&L Disc	(3,784 )	(5,640 )
Accruals and deferred income	(1 )	4,448
Amounts owed to parent undertaking	2,051,444	923,389

	2,056,562	954,224

Page 4

Page 5

Source 1 Solutions Europe Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Accruals and deferred income	1,324,250	-

8. Share Capital

	2024	2023
	£	£
Called Up Share Capital not Paid	1	1

Amount of Allotted, Called Up Share Capital	1	1

Page 5