Fonn Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Fonn Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12312957 . The registered office is Armstrong Building Oakwood Drive, University Science & Enterprise Park, Loughborough, LE11 3QF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

Following the aquisition of Fonn Ltd by Access UK Limited, the trade and assets of Fonn Ltd have been transferred to Access UK Limited at 9 May 2025.

Further to the aquisition of the Company's trade and assets by Access UK Limited, it is the intention of the Directors to liquidate the Company in the future. At the date of approving these financial statements, it is the considered view of the directors' that there is no material difference between the going concern basis and any other basis under which the financial statements could have been prepared.

2.3. Significant judgements and estimations

The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of Services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.5. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme

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Fonn Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.8. Cash and Cash Equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

2.9. Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for services performed in the ordinary course of business less any reasonable provision for doubtful debts.

2.10. Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

2.11. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 4 (2024: 7)

4. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	93,956
Prepayments and accrued income	-	15,090
Other debtors	-	1,826
Amounts owed by group undertakings	500	-

	500	110,872

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	-	65,857
Other taxes and social security	-	5,480
VAT	-	47,628
Other creditors	-	3,065
Accruals and deferred income	-	440,970
Amounts owed to group undertakings	-	2,271,393

	-	2,834,393

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Fonn Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	500	500

7. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	298,163	-

8. Related Party Transactions

The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of Section 33. 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose transactions with entities that are wholly owned members of the group.

9. Ultimate Controlling Party

The immediate parent undertaking is Access UK Limited, a company incorporated in England and Wales.

The ultimate parent undertaking is Asyst Topco Limited, a company incorporated in Guernsey.

The Directors do not consider there to be an Ultimate Controlling Party, control is jointly exercised by funds managed by TA Associates L.P. and Hg Capital LLP.

Access Technology Group Limited is the parent undertaking of the smallest group to consolidate these financial statements. Copies of the group financial statements are available from Armstrong Building, Oakwood Drive, Loughborough University Science & Enterprise Park, Loughborough, England, LE11 3QF.

10. Change of Ultimate Parent Undertakings

On 9 May 2025, the Company was acquired by Access UK Limited. Following completion, the ultimate parent undertaking of the Company changed from Fonn AS to Asyst Topco Limited.

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		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	500		110,872
Cash at bank and in hand		-		55,553

		500		166,425
Creditors: Amounts Falling Due Within One Year	5	-		(2,834,393 )

NET CURRENT ASSETS (LIABILITIES)			500		(2,667,968 )

TOTAL ASSETS LESS CURRENT LIABILITIES			500		(2,667,968 )

NET ASSETS/(LIABILITIES)			500		(2,667,968 )

CAPITAL AND RESERVES
Called up share capital	6		500		500
Profit and Loss Account			-		(2,668,468 )

SHAREHOLDERS' FUNDS			500		(2,667,968)