Company Registration No. 06084835 (England and Wales)
NEVIS HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
NEVIS HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
NEVIS HOLDINGS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
4
4,595,133
4,595,611
Cash at bank and in hand
174,907
193,636
4,770,040
4,789,247
Creditors: amounts falling due within one year
5
(202,832)
(201,015)
Net current assets
4,567,208
4,588,232
Capital and reserves
Called up share capital
7
3,887
3,887
Share premium account
33,289,307
33,289,307
Capital reserve
16,714,000
16,714,000
Profit and loss reserves
(45,439,986)
(45,418,962)
Total equity
4,567,208
4,588,232

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 26 May 2026 and are signed on its behalf by:
P J Cummings
Director
Company Registration No. 06084835
NEVIS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -
1
Accounting policies
Company information

Nevis Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Park Row, Leeds, United Kingdom, LS1 5AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The true company does not trade. As a result, the accounts have not been prepared on a going concern basis. The company has made all adjustments necessary to ensure that assets are recorded at an appropriate recoverable amount which is amortised cost. Accordingly, the director s are satisfied that there are no adjustments required to the carrying value of assets necessary to reflect the fact that the company is not continuing as a going concern.

1.3
Fixed asset investments

Interests in subsidiaries and other fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

NEVIS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 3 -
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.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, ar e 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 paymen ts 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

NEVIS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.10

Intermediate payment arrangements

The purpose of Nevis Holdings Trustee Limited is to hold shares in Nevis Holdings Limited for the purpose of a non-tax advantage employee benefit trust, for the benefit of employees, former employees, the spouses, civil partners, surviving spouses or civil partners, minor children and step-children of employees or former employees.

In accordance with section 9 of FRS 102, the assets and liabilities and profit and loss items of Nevis Holdings Trustee Limited are incorporated into the financial statements of Nevis Holdings Limited. Nevis Holdings Limited, as the ultimate parent entity of Nevis Holdings Trustee Limited, exercises direct control of the functions and operations of the company and is capable of exercising the power of modification over the trust deed at any time. Therefore, Nevis Holdings Limited is considered to be a sponsoring entity whilst Nevis Holdings Trustee Limited is considered to be an intermediary entity under the definitions of FRS 102.

The shares in Nevis Holdings Limited held by Nevis Holdings Trustee Limited are contained within the reserves of Nevis Holdings Limited, with an equal deduction from share capital and share premium for shares acquired. No gains or losses in relation to the purchase, issue or future sale of the shares are recognised within the profit and loss account.

The transfer or payment of credits is determined and is only exercisable by Nevis Holdings Limited. Once such transfer or payment has been made, the application of such funds is at the discretion of Nevis Holdings Trustee Limited.

Nevis Holdings Trustee Limited may invest the funds in shares or securities of Nevis Holdings Limited and other group members at its discretion, provided it has not received notice in writing from any group member that to do so would be against regulatory provisions or articles of association. Any borrowings received from Nevis Holdings Limited for the purchase of shares or securities are interest-free, have no repayment terms and are payable in full once 30 days’ notice has been given.

Nevis Holdings Trustee Limited can transfer a beneficial interest in shares or securities to a beneficiary in absolute or subject to conditions or sell shares, securities or share options to beneficiaries or trustees of the employee scheme at its discretion. No such action has been taken in the current or prior periods.

Whilst Nevis Holdings Trustee Limited holds the shares in Nevis Holdings Limited, it shall waive all rights to dividends and shall exercise no voting rights attached to shares held. No such dividends have been paid or waived during the current or prior periods.

Nevis Holdings Trustee Limited may declare and pay a dividend to its shareholders at any time, provided such dividend is approved by the board of directors. No such dividends have been paid or declared during the current or prior periods.

NEVIS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
3
Fixed asset investments
2025
2024
£
£
Cost less impairment and net book value
Shares in group undertakings and participating interests
-
0
-
0
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
4,595,133
4,595,611
5
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
202,832
201,015
6
Share-based payment transactions

The company operates an equity-settled share option scheme for the benefit of certain of the company’s directors and employees. Share options allocated vest over a period of three years from the date of grant. If any employee has vested share options on the date they leave the company, they can exercise those options at the given strike price. If the option is not exercised when an employee leaves, it lapses. There is no requirement to exercise the option when it vests; however, the options lapse on the tenth anniversary of the date of grant.

NEVIS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
6
Share-based payment transactions
(Continued)
- 6 -
Number of share options
Weighted average exercise price
2025
2024
2025
2024
Number
Number
£
£
Outstanding at beginning of period
-
0
307,500
-
0
-
0
Expired
-
0
(307,500)
0
-
0
-
0
Outstanding at end of period
-
0
-
0
-
0
-
0
Exercisable at end of period
-
0
-
0
-
0
-
0
7
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
9,233,160 A Ordinary shares of 0.01p each
923
923
5,731,737 C Ordinary shares of 0.01p each
573
573
232,464 C1 Ordinary shares of 0.01p each
23
23
56,242 C2 Ordinary shares of 0.01p each
6
6
11,698,707 A Preferred ordinary shares of 0.01p each
1,170
1,170
11,918,240 B Preferred ordinary shares of 0.01p each
1,192
1,192
3,887
3,887
8
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
3,802,592
3,802,592
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