REGISTERED NUMBER: 08714223 (England and Wales)

COALFIRE SYSTEMS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M E B Chandler

B J Little

REGISTERED OFFICE:

4th Floor

St. James House

St. James Square

Cheltenham

GL50 3PR

REGISTERED NUMBER:

08714223 (England and Wales)

AUDITORS:

Hopper Williams & Bell Limited

Statutory Auditor

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR

FIXED ASSETS

Tangible assets

4

295,867

334,719

CURRENT ASSETS

Debtors

5

1,305,293

1,097,986

Cash at bank

52,156

41,225

1,357,449

1,139,211

CREDITORS

Amounts falling due within one year

6

(559,359

)

(517,271

)

NET CURRENT ASSETS

798,090

621,940

TOTAL ASSETS LESS CURRENT LIABILITIES

1,093,957

956,659

CREDITORS

Amounts falling due after more than one year

7

(66,398

)

(67,483

)

PROVISIONS FOR LIABILITIES

(18,208

)

(15,971

)

NET ASSETS

1,009,351

873,205

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Capital contribution reserve

41,269

41,269

Retained earnings

967,082

830,936

1,009,351

873,205

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

M E B Chandler - Director

1.	STATUTORY INFORMATION

Coalfire Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

The turnover shown in the profit and loss account represent amounts receivable from the parent undertaking during the year, for the provision of support functions. Turnover in respect of services provided to the parent undertaking is calculated as attributable cost plus 5% in accordance with transfer pricing between Coalfire Systems Limited and the parent undertaking.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

Over the length of the lease

Office Equipment

-

Straight line over 3 years

Furniture & Fixtures

-

Straight line over 5 years

Computer equipment

-

Straight line over 3 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Share-based payments

Share based payments are disclosed within the capital contribution reserve. Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the statement of comprehensive income over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each statement of financial position 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. As long as all other vesting conditions are satisfied, a charge is made irrespective of whether the market vesting conditions are satisfied. The cumulative expense is not adjusted for failure to achieve a market condition.

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 the statement of comprehensive income over the remaining vesting period.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating Leases

Rentals under operating leases are charged to the income statement on a straight line basis over the lease term.

Financial assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2024 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Office

Furniture &

Computer

to property

Equipment

Fixtures

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

450,478

28,627

134,090

132,427

745,622

Additions

-

-

19,166

41,628

60,794

At 31 December 2025

450,478

28,627

153,256

174,055

806,416

DEPRECIATION

At 1 January 2025

179,647

28,627

102,212

100,417

410,903

Charge for year

47,795

-

28,056

23,795

99,646

At 31 December 2025

227,442

28,627

130,268

124,212

510,549

NET BOOK VALUE

At 31 December 2025

223,036

-

22,988

49,843

295,867

At 31 December 2024

270,831

-

31,878

32,010

334,719

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Amounts owed by group undertakings

1,239,243

1,037,169

Other debtors

66,050

60,817

1,305,293

1,097,986

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade creditors

61,049

18,729

Taxation and social security

180,545

102,099

Other creditors

317,765

396,443

559,359

517,271

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as restated

£

£

Other creditors

66,398

67,483

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

as restated

£

£

Within one year

165,455

125,595

Between one and five years

531,956

29,466

697,411

155,061

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Flood (FCA) (Senior Statutory Auditor)

for and on behalf of Hopper Williams & Bell Limited

10.	ULTIMATE CONTROLLING PARTY

The directors regard Coalfire Systems, Inc., a company incorporated under the laws of the state of Delaware, USA, to be the immediate and ultimate parent undertaking by virtue of holding 100% of the issued shares and being the largest group for which consolidated accounts are available. A copy of the consolidated financial statements can be obtained from Coalfire Systems, Inc., 330 N Wabash Ave, Suite 1430, Chicago, IL 60611, United States.

In the opinion of the directors there is no ultimate controlling party.