Registration number: 10269482

Found Group Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Found Group Limited

Company Information

Directors

K M Fairhurst R K Howard R J Miller S C Gray

Registered office

22 Charterhouse Square London EC1M 6DX

Accountants

Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Found Group Limited

(Registration number: 10269482)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	112,733	225,374
Tangible assets	5	41,146	60,063
		153,879	285,437
Current assets
Debtors	6	2,673,232	3,610,619
Cash at bank and in hand		61,430	-
		2,734,662	3,610,619
Creditors: Amounts falling due within one year	7	(1,570,488)	(3,103,760)
Net current assets		1,164,174	506,859
Total assets less current liabilities		1,318,053	792,296
Creditors: Amounts falling due after more than one year	7	-	(116,667)
Deferred tax liabilities	9	(4,444)	(8,133)
Net assets		1,313,609	667,496
Capital and reserves
Called up share capital	10	100	100
Profit and loss account		1,313,509	667,396
Shareholders' funds		1,313,609	667,496

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 June 2026 and signed on its behalf by:
 

R K Howard
Director

Found Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
22 Charterhouse Square
London
EC1M 6DX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Found Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line

Development costs

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. Provision is made for any impairment.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Development costs	50% straight line
Goodwill	10% straight line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

An asset is impaired where there is objective evidence that, as a result of one or more events that occured after initial recognition, the estimate recoverable value of the asset has reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Found Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Found Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Impairment
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 profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 75 (2024 - 63).

4

Intangible assets

	Goodwill  £	Development costs  £	Total £
Cost
At 1 October 2024	1,126,401	3,974	1,130,375
At 30 September 2025	1,126,401	3,974	1,130,375
Amortisation
At 1 October 2024	901,027	3,974	905,001
Amortisation charge	112,641	-	112,641
At 30 September 2025	1,013,668	3,974	1,017,642
Carrying amount
At 30 September 2025	112,733	-	112,733
At 30 September 2024	225,374	-	225,374

Found Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

5

Tangible assets

	Office equipment  £	Motor vehicles  £	Total £
Cost
At 1 October 2024	194,321	15,254	209,575
Additions	13,157	-	13,157
At 30 September 2025	207,478	15,254	222,732
Depreciation
At 1 October 2024	134,258	15,254	149,512
Charge for the period	32,074	-	32,074
At 30 September 2025	166,332	15,254	181,586
Carrying amount
At 30 September 2025	41,146	-	41,146
At 30 September 2024	60,063	-	60,063

6

Debtors

	2025 £	2024 £
Trade debtors	965,070	1,052,631
Receivables from related parties	1,385,071	2,402,521
Prepayments	145,160	98,461
Other debtors	177,931	57,006
	2,673,232	3,610,619

7

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	116,667	299,339
Trade creditors		511,573	214,752
Amounts due to related parties		-	884,686
Taxation and social security		290,460	655,622
Accruals and deferred income		620,469	841,252
Other creditors		31,319	208,109
		1,570,488	3,103,760

8

Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	116,667	200,000
Bank overdrafts	-	99,339
	116,667	299,339

Found Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	116,667

Bank borrowings comprise a Coronavirus Business Interruption Loan (“CBIL’s”) with a carrying value £116,667 (2024 - £316,667), which after 12 months from drawdown attracts interest at a rate of 3.14% plus the bank base rate. The loan is repayable in 72 equal instalments of £16,667. The final instalment is due in April 2026.

Finance lease and hire purchase contracts are secured on the assets to which they relate.

9

Deferred tax

Deferred tax assets and liabilities

2025	Liability £
Fixed asset timing differences	(6,729)
Short term timing differences	2,285
	(4,444)