ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 08139112

ABACUS ARK LTD

AUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

ABACUS ARK LTD

REGISTERED NUMBER: 08139112

BALANCE SHEET

AS AT 31 AUGUST 2025

		2025		Restated 2024
Note		£		£

Fixed assets
Tangible assets	4		626,554		63,443
			626,554		63,443
Current assets
Debtors: amounts falling due after more than one year	5	172,500		172,500
Debtors: amounts falling due within one year	5	3,395,600		3,214,391
Cash at bank and in hand	6	334,061		1,150,864
		3,902,161		4,537,755
Creditors: amounts falling due within one year	7	(5,325,174)		(7,994,768)
Net current liabilities			(1,423,013)		(3,457,013)
Total assets less current liabilities			(796,459)		(3,393,570)
Creditors: amounts falling due after more than one year	8		(3,640,830)		(45,000)

Net liabilities			(4,437,289)		(3,438,570)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(4,437,389)	(3,438,670)
	(4,437,289)	(3,438,570)

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ABACUS ARK LTD

REGISTERED NUMBER: 08139112

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2025

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:

................................................

Mr A Ioannou

Director

Date: 29 May 2026

The notes on pages 5 to 13 form part of these financial statements.

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		ABACUS ARK LTD

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 AUGUST 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 September 2023 (as previously stated)	100	(3,051,270)	(3,051,170)
Prior year adjustment	-	14,307	14,307
At 1 September 2023 (as restated)	100	(3,036,963)	(3,036,863)
Comprehensive income for the year
Loss for the year	-	(401,707)	(401,707)
Total comprehensive income for the year	-	(401,707)	(401,707)

At 1 September 2024 (as previously stated)	100	(3,438,732)	(3,438,632)
Prior year adjustment	-	62	62
At 1 September 2024 (as restated)	100	(3,438,670)	(3,438,570)
Comprehensive income for the year
Loss for the year	-	(998,719)	(998,719)
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	(998,719)	(998,719)
At 31 August 2025	100	(4,437,389)	(4,437,289)

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		ABACUS ARK LTD

STATEMENT OF CHANGES IN EQUITY (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

The notes on pages 5 to 13 form part of these financial statements.

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ABACUS ARK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	General information

Abacus Ark Ltd is a private company limited by shares, registered in England and Wales.

The company's registration number is 08139112.

The company's registered office is 7 St John's Road, London, England, SW11 1QN.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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ABACUS ARK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.8

Pensions

Defined contribution pension plan

The Company contributes into 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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.9

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, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property	-	10%
Fixtures and fittings	-	20%
Nursery equipment	-	25%
Computer equipment	-	25%

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.

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ABACUS ARK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 25 (2024 - 23).

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ABACUS ARK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

4.	Tangible fixed assets

	Short-term leasehold property	Fixtures and fittings	Nursery equipment	Computer equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 September 2024	190,728	12,326	-	19,461	222,515
Additions	532,248	6,854	57,705	6,120	602,927
Disposals	-	-	(1,309)	(880)	(2,189)
Transfers between classes	(2,850)	(11,170)	19,461	(5,441)	-
At 31 August 2025	720,126	8,010	75,857	19,260	823,253
Depreciation
At 1 September 2024	130,611	11,258	-	17,202	159,071
Charge for the year on owned assets	32,449	168	5,867	1,333	39,817
Disposals	-	-	(1,309)	(880)	(2,189)
Transfers between classes	(1,449)	(10,102)	17,202	(5,651)	-
At 31 August 2025	161,611	1,324	21,760	12,004	196,699
Net book value
At 31 August 2025	558,515	6,686	54,097	7,256	626,554
At 31 August 2024	60,117	1,067	-	2,259	63,443

During the financial year, the directors reviewed the estimated useful economic lives of the company’s asset classes. Following this review, it was determined that the following changes provide a more accurate reflection of asset consumption:

- Leasehold property has changed from 15% to 10% straight line
- Fixture and fittings has changed from 33% to 20% straight line
- Computer equipment has changed from 15% to 25% straight line

In accordance with FRS 102 Section 10, this adjustment has been accounted for prospectively as a change in an accounting estimate.

Additionally, during the financial year, the company reviewed the presentation and sub-classification of its tangible fixed assets to provide more reliable and relevant information regarding its asset base, this is detailed in the transfers between classes row in the fixed asset note above.

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ABACUS ARK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

5.	Debtors
		2025	Restated 2024
		£	£

Due after more than one year
Other debtors	172,500	172,500
	172,500	172,500

Shlomo Salama and Lola Salama and Nss Trustees Limited have a fixed charge of £45,000 in relation to a rent deposit deed which was registered on 4th January 2013. Under the terms of the agreement, the landlord holds the rent deposit as security for the company’s obligations under the lease.

					2025	Restated 2024
					£	£

Due within one year
Trade debtors	76,910	28,306
Amounts owed by group undertakings	3,243,461	2,964,532
Prepayments and accrued income	75,229	221,553
	3,395,600	3,214,391

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	334,061	1,150,864
	334,061	1,150,864

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ABACUS ARK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

7.	Creditors: Amounts falling due within one year
		2025	Restated 2024
		£	£

Bank loans	10,000	3,182,352
Trade creditors	72,731	62,138
Amounts owed to group undertakings	4,810,716	4,525,573
Other taxation and social security	85,303	71,179
Other creditors	133,309	17,029
Accruals and deferred income	213,115	136,497
	5,325,174	7,994,768

8.	Creditors: Amounts falling due after more than one year
		2025	Restated 2024
		£	£

Bank loans	3,448,330	12,500
Other creditors	192,500	32,500
	3,640,830	45,000

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ABACUS ARK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Amounts falling due within one year
Bank loans	10,000	3,182,352
	10,000	3,182,352
Amounts falling due 1-2 years
Bank loans	3,448,330	10,000
	3,448,330	10,000
Amounts falling due 2-5 years
Bank loans	-	2,500
	-	2,500

	3,458,330	3,194,852

10.	Pension commitments

The Company contributes into a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £12,710 (2024 - £11,879). Contributions totalling £3,441 (2024 - £2,229) were payable to the fund at the balance sheet date and are included in creditors.

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ABACUS ARK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Not later than 1 year	399,225	224,225
Later than 1 year and not later than 5 years	1,336,434	535,659
Later than 5 years	2,650,000	3,850,000
	4,385,659	4,609,884

12.	Related party transactions
	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.

13.	Controlling party

The parent company is Abacus Ark Holdings Limited and the ultimate controlling party is Imbiba Growth 2
LP.

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ABACUS ARK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

14.	Prior period adjustments

During the year, the Company identified certain classification and accounting errors relating to prior periods. Accordingly, the comparative figures have been restated in accordance with Section 10 of FRS 102.

The adjustments recognised through opening reserves as at 1 September 2023 resulted in a net increase
of £14,307, comprising the following:

- A reclassification of fixed asset costs that did not meet the capitalisation criteria and should therefore
have been recognised within the profit and loss account in 2023. This resulted in a reduction in opening reserves of £16.
- Depreciation had not been calculated in line with the Company’s accounting policy, resulting in an increase in opening reserves of £14,323.

The adjustments recognised through opening reserves as at 1 September 2024 included all of the above,
together with the following additional items, resulting in a net decrease of £14,245 and therefore a cumulative increase in opening reserves of £62:

- Depreciation had not been calculated in line with the Company’s accounting policy, resulting in an reduction in opening reserves of £6,231.
- A increase in administrative expenses arising from the rent free accrual, resulting in a reduction in
opening reserves of £7,106.
- An adjustment to sales to correct customer deposits held, resulting in an increase in opening reserves of
£800.
- A increase in administrative expenses arising from late invoices which should have been accrued for, resulting in a reduction in opening reserves of £1,942.
- An decrease in bank interest to correct the closing bank loan position, resulting in an increase in opening
reserves of £234.

15.

Charges

Imbiba Growth 2 LP has a fixed and floating charge over all assets in the form of a debenture which was registered on 26th July 2024.

16.	Auditors' information

The auditors' report on the financial statements for the year ended 31 August 2025 was unqualified.

The audit report was signed on 29 May 2026 by Mr Matthew Wyatt FCA (Senior Statutory Auditor) on behalf of Wellers.

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