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Company No: 11796092 (England and Wales)

# TRIGEN LIMITED

### Unaudited Financial Statements
For the financial year ended 31 January 2026
Pages for filing with the registrar

TRIGEN LIMITED

## Unaudited Financial Statements

For the financial year ended 31 January 2026

Contents

TRIGEN LIMITED

## BALANCE SHEET

As at 31 January 2026
TRIGEN LIMITED

## BALANCE SHEET (continued)

As at 31 January 2026

| Note | 2026 |  | 2025
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 1,149,674 |  | 1,106,268
Tangible assets | 4 | 1,393 |  | 1,858
|  | 1,151,067 |  | 1,108,126
Current assets |  |  |  |
Debtors | 5 | 226,106 |  | 171,159
Cash at bank and in hand |  | 32,330 |  | 36,430
|  | 258,436 |  | 207,589
Creditors: amounts falling due within one year | 6 | ( 908,222) |  | ( 575,210)
Net current liabilities |  | (649,786) |  | (367,621)
Total assets less current liabilities |  | 501,281 |  | 740,505
Creditors: amounts falling due after more than one year | 7 | ( 211,825) |  | ( 205,808)
Net assets |  | 289,456 |  | 534,697
Capital and reserves |  |  |  |
Called-up share capital | 9 | 151,865 |  | 151,865
Share premium account |  | 1,553,950 |  | 1,553,950
Profit and loss account |  | ( 1,416,359 ) |  | ( 1,171,118 )
Total shareholders' funds |  | 289,456 |  | 534,697

For the financial year ending 31 January 2026 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 financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Trigen Limited (registered number: 11796092) were approved and authorised for issue by the Board of Directors on 15 May 2026. They were signed on its behalf by:

A P Ryan Director |  | A M Ryan Director

TRIGEN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2026
TRIGEN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2026

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Trigen Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Browne Jacobson Llp (Cs) 15th Floor, 103 Colmore Row, Birmingham, B3 3AG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements.. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets | 5 years straight line

###### Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Office equipment | 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Convertible loan notes
The component parts of compound instruments issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. On initial recognition, the financial liability component is recorded at its fair value. At the date of issue, in the case of a convertible bond denominated in the functional currency of the issuer that may be converted into a fixed number of equity shares, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in the equity reserve within equity and is not subsequently remeasured.
Transaction costs are apportioned between the liability and equity components of the convertible instrument based on their relative fair values at the date of issue. The portion relating to the equity component is charged directly against equity.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2026 |  | 2025
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 7 |  | 7

#### 3. Intangible assets

| Other intangible assets |  | Total
| £ |  | £
Cost |  |  |
At 01 February 2025 | 2,542,712 |  | 2,542,712
Additions | 600,308 |  | 600,308
At 31 January 2026 | 3,143,020 |  | 3,143,020
Accumulated amortisation |  |  |
At 01 February 2025 | 1,436,444 |  | 1,436,444
Charge for the financial year | 556,902 |  | 556,902
At 31 January 2026 | 1,993,346 |  | 1,993,346
Net book value |  |  |
At 31 January 2026 | 1,149,674 |  | 1,149,674
At 31 January 2025 | 1,106,268 |  | 1,106,268

#### 4. Tangible assets

| Office equipment |  | Total
| £ |  | £
Cost |  |  |
At 01 February 2025 | 9,510 |  | 9,510
At 31 January 2026 | 9,510 |  | 9,510
Accumulated depreciation |  |  |
At 01 February 2025 | 7,652 |  | 7,652
Charge for the financial year | 465 |  | 465
At 31 January 2026 | 8,117 |  | 8,117
Net book value |  |  |
At 31 January 2026 | 1,393 |  | 1,393
At 31 January 2025 | 1,858 |  | 1,858

#### 5. Debtors

| 2026 |  | 2025
| £ |  | £
Trade debtors | 52,039 |  | 44,701
Prepayments | 6,112 |  | 5,216
Corporation tax | 167,934 |  | 121,221
Other debtors | 21 |  | 21
| 226,106 |  | 171,159

#### 6. Creditors: amounts falling due within one year

| 2026 |  | 2025
| £ |  | £
Bank overdrafts | 9 |  | 0
Trade creditors | 55,243 |  | 12,176
Amounts owed to directors | 565,000 |  | 295,000
Convertible loan notes | 260,722 |  | 241,410
Accruals and deferred income | 5,760 |  | 8,337
Other taxation and social security | 21,202 |  | 17,833
Other creditors | 286 |  | 454
| 908,222 |  | 575,210

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

| 2026 |  | 2025
| £ |  | £
Convertible loan notes | 211,825 |  | 205,808

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Convertible loans

The Company issued £200,000 of convertible loan notes on 26th August 2022. The company then issued a further £100,000 on the 18th July 2023 and £100,000 on 21st November 2023. The convertible loan notes are convertible into ordinary shares of the Company at any time between the date of issue of the notes and their settlement date. On issue, the loan notes were convertible at a price per loan note equal to a price per share. If the notes have not been converted, they will be redeemed at a later date according to the terms of the deed. Interest of 8% will be due annually up until that settlement date.

The net proceeds received from the issue of the convertible loan notes have been split between the liability element and an equity component, representing the fair value of the embedded option to convert the liability into equity of the Company, as follows:

| 2026
| £
Nominal value of convertible loan notes issued | 400,000
Equity component | 0
Liability components at date of issue | 400,000
Interest charged | 72,547
Interest paid | 0
Liability component at 31 January 2026 | 472,547

The liability component has been classified as basic on the grounds that there is a potential conversion within 12 months and no guaranteed premium payable upon that conversion per the deed. It is consequently measured at amortised cost.

#### 9. Called-up share capital

| 2026 |  | 2025
| £ |  | £
Allotted, called-up and fully-paid |  |  |
78,390 Ordinary shares of £ 1.00 each | 78,390.00 |  | 78,390.00
38,709 Ordinary A shares of £ 1.00 each | 38,709.00 |  | 38,709.00
2,000 Ordinary B shares of £ 0.0001 each | 0.20 |  | 0.20
25,000 Ordinary C shares of £ 1.00 each | 25,000.00 |  | 25,000.00
9,766 Ordinary D shares of £ 1.00 each | 9,766.00 |  | 9,766.00
| 151,865.20 |  | 151,865.20