Company No: SC543952 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	63,511		99,977
		63,511		99,977
Current assets
Debtors	5	252,742		628,927
Cash at bank and in hand		80,611		( 30,723)
		333,353		598,204
Creditors: amounts falling due within one year	6	( 3,307,440)		( 3,354,090)
Net current liabilities		(2,974,087)		(2,755,886)
Total assets less current liabilities		(2,910,576)		(2,655,909)
Creditors: amounts falling due after more than one year	7	0		( 8,334)
Net liabilities		( 2,910,576)		( 2,664,243)
Capital and reserves
Called-up share capital	8	2		2
Share premium account		1,421,198		1,421,198
Profit and loss account		( 4,331,776 )		( 4,085,443 )
Total shareholders' deficit		( 2,910,576)		( 2,664,243)

For the financial year ending 31 August 2025 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 Profit and Loss Account has not been delivered.

The financial statements of Asura Financial Technologies Limited (registered number: SC543952) were approved and authorised for issue by the Board of Directors on 28 May 2026. They were signed on its behalf by:

David Waddington Director

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

Asura Financial Technologies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Royal Exchange, Panmure Street, Dundee, Scotland, DD1 !DU.
The financial statements have been prepared under the historical cost convention 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 has net liabilities of £2,910,576 and continues to be supported by loans from the directors. The directors have confirmed that the loan facilities will remain available for at least 12 months from the date of signing these financial statements. In addition, a number of operational efficiencies have been implemented during the year, with efficiencies continuing post year end. The directors expect that income generated in the coming months will be sufficient to meet operational costs. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover from the provision of software solutions for banking and capital markets is recognised at the fair value of the consideration received, or receivable, provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

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 at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Fixtures and fittings	5 years straight line
Office equipment	5 years straight line
Computer equipment	5 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

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, which include debtors 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 financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		18

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 September 2024	11,785		11,785
At 31 August 2025	11,785		11,785
Accumulated amortisation
At 01 September 2024	11,785		11,785
At 31 August 2025	11,785		11,785
Net book value
At 31 August 2025	0		0
At 31 August 2024	0		0

4. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 September 2024	79,146		3,053		119,462		169,872		371,533
At 31 August 2025	79,146		3,053		119,462		169,872		371,533
Accumulated depreciation
At 01 September 2024	76,551		798		81,108		113,099		271,556
Charge for the financial year	2,595		611		11,011		22,249		36,466
At 31 August 2025	79,146		1,409		92,119		135,348		308,022
Net book value
At 31 August 2025	0		1,644		27,343		34,524		63,511
At 31 August 2024	2,595		2,255		38,354		56,773		99,977

5. Debtors

	2025		2024
	£		£
Trade debtors	194,008		226,410
Corporation tax	0		298,569
Other debtors	58,734		103,948
	252,742		628,927

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	7,990		10,000
Trade creditors	111,798		182,527
Other taxation and social security	40,467		65,440
Other creditors	3,147,185		3,096,123
	3,307,440		3,354,090

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

	2025		2024
	£		£
Bank loans	0		8,334

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

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
6,214 Ordinary shares of £ 0.000312 each	2		2

9. Related party transactions

Transactions with owners holding a participating interest in the entity

	2025		2024
	£		£
Amounts due to key management personnel	3,139,685		3,085,306

Other related party transactions

	2025		2024
	£		£
Amounts due from related companies	18,586		16,306

10. Events after the Balance Sheet date

Following the year end, the company structure was reorganised. The parent company is now Asura Financial Holdings Limited but the ultimate ownership is unchanged.