ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 14345767

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	CRASH OVERRIDE LTD


CRASH OVERRIDE LTD

COMPANY INFORMATION

Directors	M S Curphey
	J T Viega


Registered number	14345767


Registered office	Magna House
	18-32 London Road
	Staines-Upon-Thames
	TW18 4BP


Accountants	Menzies LLP
	Chartered Accountants
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	TW18 4BP


CRASH OVERRIDE LTD

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


CRASH OVERRIDE LTD REGISTERED NUMBER:14345767

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	257,375		155,157
Cash at bank and in hand		48,854		-
		306,229		155,157
Creditors: amounts falling due within one year	5	(64,985)		(50,092)
Net current assets			241,244		105,065
Total assets less current liabilities			241,244		105,065

Net assets			241,244		105,065

Capital and reserves
Called up share capital	1	1
Share option reserves	10,783	-
Profit and loss account	230,460	105,064
	241,244	105,065

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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:

J T Viega

Director

Date: 22 June 2026

The notes on pages 2 to 5 form part of these financial statements.

Page 1


CRASH OVERRIDE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Crash Override Ltd is a private company, limited by shares, registered in England and Wales. The address of the principal place of business is Projects Lanes, Nile Street, Brighton, BN1 1HW.

The presentational currency of the financial statements is the Great British Pounds (£).

The significant accounting policies applied in the preparation of these financial statements are set out below.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is generated from the provision of services to group companies and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Page 2


CRASH OVERRIDE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

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.

2.6

Pensions

Defined contribution pension plan

The Company operates 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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

2.9

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.

Page 3


CRASH OVERRIDE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Employees

The average monthly number of employees, including directors, during the period was 4 (2023 - 4).

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	257,375	155,157
	257,375	155,157

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Corporation tax	44,869	32,658
Other creditors	14,466	-
Accruals and deferred income	5,650	17,434
	64,985	50,092

Page 4


CRASH OVERRIDE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Share-based payments
	The company has issued options to certain employees. The vesting period for the options is four years after the grant date and vesting is conditional on the recipient remaining in employment with the company, unless permitted by the board. If a stock option holder leaves mid-vesting then the amount exercised is pro-rated.
		Weighted average exercise price (pence) 2024	Number 2024

Granted during the year		320,000
Forfeited during the year		(60,417)
Exercised during the year		(39,583)
Outstanding at the end of the year	0.22	220,000

Not later than 1 year	25,925	35,785
Later than 1 year and not later than 5 years	-	25,925
	25,925	61,710

8.	Controlling party

The ultimate parent company, Crash Override Inc., is a company registered in New York State of the U.S.A. The entity's office address is 111 Fulton street, Suite 416, New York, NY 10038 United States.

Page 5