BrightAccountsProduction v1.0.0 v1.0.0 2025-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company during the year was that of a tele-communications service provider. 17 June 2026 19 16 NI038966 2025-12-31 NI038966 2024-12-31 NI038966 2023-12-31 NI038966 2025-01-01 2025-12-31 NI038966 2024-01-01 2024-12-31 NI038966 uk-bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 NI038966 uk-curr:PoundSterling 2025-01-01 2025-12-31 NI038966 uk-bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 NI038966 uk-bus:FullAccounts 2025-01-01 2025-12-31 NI038966 uk-bus:Director1 2025-01-01 2025-12-31 NI038966 uk-bus:Director2 2025-01-01 2025-12-31 NI038966 uk-bus:Director3 2025-01-01 2025-12-31 NI038966 uk-bus:Director4 2025-01-01 2025-12-31 NI038966 uk-bus:Agent1 2025-01-01 2025-12-31 NI038966 uk-core:Non-currentFinancialInstruments 2025-12-31 NI038966 uk-core:Non-currentFinancialInstruments 2024-12-31 NI038966 uk-core:CurrentFinancialInstruments 2025-12-31 NI038966 uk-core:CurrentFinancialInstruments 2024-12-31 NI038966 uk-core:ShareCapital 2025-12-31 NI038966 uk-core:ShareCapital 2024-12-31 NI038966 uk-core:SharePremium 2025-12-31 NI038966 uk-core:SharePremium 2024-12-31 NI038966 uk-core:RetainedEarningsAccumulatedLosses 2025-12-31 NI038966 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI038966 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2025-12-31 NI038966 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 NI038966 uk-bus:FRS102 2025-01-01 2025-12-31 NI038966 uk-core:Goodwill 2025-01-01 2025-12-31 NI038966 uk-core:PlantMachinery 2025-01-01 2025-12-31 NI038966 uk-core:FurnitureFittingsToolsEquipment 2025-01-01 2025-12-31 NI038966 uk-core:MotorVehicles 2025-01-01 2025-12-31 NI038966 uk-core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 NI038966 uk-core:Goodwill 2024-12-31 NI038966 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-12-31 NI038966 uk-core:Goodwill 2025-12-31 NI038966 uk-core:CostValuation 2025-12-31 NI038966 uk-core:Subsidiary1 2025-01-01 2025-12-31 NI038966 uk-core:Subsidiary2 2025-01-01 2025-12-31 NI038966 uk-core:CurrentFinancialInstruments 2025-12-31 NI038966 uk-core:CurrentFinancialInstruments 2024-12-31 NI038966 uk-core:Non-currentFinancialInstruments 2025-12-31 NI038966 uk-core:Non-currentFinancialInstruments 2024-12-31 NI038966 uk-core:WithinOneYear 2025-12-31 NI038966 uk-core:WithinOneYear 2024-12-31 NI038966 uk-core:WithinOneYear 2025-12-31 NI038966 uk-core:WithinOneYear 2024-12-31 NI038966 uk-core:AfterOneYear 2025-12-31 NI038966 uk-core:AfterOneYear 2024-12-31 NI038966 uk-core:AfterOneYear 2025-12-31 NI038966 uk-core:AfterOneYear 2024-12-31 NI038966 uk-core:BetweenOneTwoYears 2025-12-31 NI038966 uk-core:BetweenOneTwoYears 2024-12-31 NI038966 uk-core:EmployeeBenefits 2024-12-31 NI038966 uk-core:EmployeeBenefits 2025-01-01 2025-12-31 NI038966 uk-core:AcceleratedTaxDepreciationDeferredTax 2025-12-31 NI038966 uk-core:TaxLossesCarry-forwardsDeferredTax 2025-12-31 NI038966 uk-core:OtherDeferredTax 2025-12-31 NI038966 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2025-12-31 NI038966 uk-core:EmployeeBenefits 2025-12-31 NI038966 2025-01-01 2025-12-31 NI038966 uk-bus:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 xbrli:pure iso4217:GBP xbrli:shares

Company Registration Number: NI038966

Clarity Telecom Limited

Unaudited Financial Statements

for the financial year ended 31 December 2025

Clarity Telecom Limited

Directors and Other Information

Directors | Mr D Whelan
| Mr D O'Reilly
| Mr P Smith
| A Dowie
Company Registration Number | NI038966
| Northern Ireland
Accountants | HCA Chartered Accountants Ltd
| Chartered Accountants
| 12 Cromac Place
| Belfast
| Co. Antrim
| BT7 2JB
| Northern Ireland

Clarity Telecom Limited

Company Registration Number: NI038966

Statement of Financial Position

as at 31 December 2025

|  |  | 2025 |  | 2024
|  | Notes | £ |  | £
Non-Current Assets

Property, plant and equipment |  | 8 | 48,745 |  | 11,187
Financial assets |  | 9 | 1,100,090 |  | 1,100,090
|  |  | ───────── |  | ─────────
Non-Current Assets |  |  | 1,148,835 |  | 1,111,277
|  |  | ───────── |  | ─────────
Current Assets

Stocks |  | 10 | 6,558 |  | 22,025
Debtors |  | 11 |  |  |
- amounts falling due after more than one year |  |  | 2,032,532 |  | 1,632,949
- amounts falling due within one year |  |  | 616,324 |  | 721,278
Cash and cash equivalents |  |  | 78 |  | 138
|  |  | ───────── |  | ─────────
|  |  | 2,655,492 |  | 2,376,390
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 12 | (643,548) |  | (670,386)
|  |  | ───────── |  | ─────────
Net Current Assets |  |  | 2,011,944 |  | 1,706,004
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 3,160,779 |  | 2,817,281
Creditors:

amounts falling due after more than one year |  | 13 | - |  | (775,980)
Provisions for liabilities |  | 15 | 10,581 |  | (1,249)
|  |  | ───────── |  | ─────────
Net Assets |  |  | 3,171,360 |  | 2,040,052
|  |  | ═════════ |  | ═════════
Equity

Called up share capital |  |  | 1,092,223 |  | 825,162
Share premium account |  | 16 | 2,072,053 |  | 1,166,575
Retained earnings |  |  | 7,084 |  | 48,315
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 3,171,360 |  | 2,040,052
|  |  | ═════════ |  | ═════════
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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Board and authorised for issue on 17 June 2026 and signed on its behalf by

________________________________ |  |  |  |  |
Mr D Whelan |  |  |  |  |
Director |  |  |  |  |

Clarity Telecom Limited

Notes to the Financial Statements

for the financial year ended 31 December 2025

1. | General Information
| Clarity Telecom Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI038966. The registered office of the company is , Northern Ireland which is also the principal place of business of the company. The principal activity of the company during the year was that of a tele-communications service provider. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the financial year ended 31 December 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Consolidated accounts
| The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
| Turnover
| Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
| Research & Development
| Research and development expenditure is written off in the year in which it is incurred. Development expenditure incurred on clearly defined projects whose outcome can be assessed with reasonable certainty is carried forward and amortisation is charged from that time over the lesser of the life of the project or five years.
| Operating leases
| Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
| Goodwill
| Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
| Property, plant and equipment and depreciation
| Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
|  | Leased Equipment | - | 20% Straight line
|  | Office Equipment | - | 33% Straight line
|  | Motor vehicles | - | 25% Straight line
|  | VOIP Equipment | - | 33% Straight line
| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
| Leasing
| Rentals payable under operating leases are dealt with in the Income Statement as incurred over the period of the rental agreement.
| Financial assets
| Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the financial year in which it is receivable.
| Stocks
| Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Borrowing costs
| Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
| Provisions
| Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Employee benefits
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
| Taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.
| Share capital of the company
| Ordinary share capital
| The ordinary share capital of the company is presented as equity.
| Preference share capital
| The dividend rights of the preference shares are non-cumulative and payment is at the discretion of the company. Whilst the preference shares carry no voting rights at meetings, based on their characteristics the preference shares are considered to be presented as equity and not liabilities.

3. | Significant accounting judgements and key sources of estimation uncertainty
| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical judgements in applying the company's accounting policies No critical judgements have been made in applying the company's accounting policies. Critical accounting estimates and assumptions The company is owed £2,032,532 (2024:1,632,949) due from its subsidiary company, Voxbit Limited and has an investment in that company of £1,100,090. As at 31 December 2026 Voxbit had retained losses of £1,442,584 (2024: £1,350,052) and its main asset was net (of amortisation) capitalised development spend of £2,618,610 (2024: £2,371,005) on a VOIP platform. If that company does not fully profitably commercialise its self-developed platform so that it can repay its loan, Clarity will suffer a major impairment of its assets. Partially offsetting the company lending its subsidiary company, Voxbit Limited, £327,327, (2024: £250,409) is owned to the company's sister company that operates in the Republic of Ireland. The ROI company has liabilities in excess of its assets and has yet to prove itself to be fully commercially viable. As at 31 December 2025, the company was owed £461,610 (2024: £461,420) from a company in which it has a 50% interest. The debt due is disputed and legal action is being taken in respect of its recovery. Whilst payment has not yet been received, the directors are confident about its recovery The recoverability of the carrying value of the foregoing, in particular as regards Voxbit - that is based on assumptions concerning both future profitability and the useful economic life of the platform - is a significant accounting judgement reflecting significant estimates that materially impact on the balance sheet position of the company. No other critical accounting estimates or judgements are made which would have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

4. | Going concern
| As referred to in notes 11 & 12, the company is owed a net total of £1,705,205 (2024 :£1,383,540) from subsidiary companies. Recoverability of these loans does not impact on the company's ability to continue as a going concern as trading after the year end and the company's projections indicate it will have the profitability and liquidity to fully service its debts. Accordingly, the directors have concluded that it is appropriate to continue to adopt the going concern basis in preparing the company's financial statements.

5. | Critical Accounting Judgements and Estimates
| The directors consider the accounting estimates and assumptions below to be its critical accounting judgements and estimates: 1. The company considers the amount due from group company Voxbit of £2,032,532 (2024: £1,632,949) to be fully recoverable. 2. The company also considers the amount due from a related party of £461,610 (2024: £461,420) to be fully recoverable notwithstanding the amount due is disputed. 3. The company considers its investment in Voxbit of £1,100,090 to be fully recoverable notwithstanding that company had retained losses and its only significant asset is capitalised spend on an intangible asset of a VOIP platform.

6. | Employees
| The average monthly number of employees, including directors, during the financial year was 19, (2024 - 16).
|  | 2025 | 2024
|  | Number | Number
| Number of employees | 19 | 16
|  | ═════════ | ═════════

7. | Intangible assets
|  | Development |  |
|  | Costs | Goodwill | Total
|  | £ | £ | £
| Cost
| At 1 January 2025 | 248,918 | 467,935 | 716,853
|  | ───────── | ───────── | ─────────
| At 31 December 2025 | 248,918 | 467,935 | 716,853
|  | ───────── | ───────── | ─────────
| Amortisation
| At 31 December 2025 | 248,918 | 467,935 | 716,853
|  | ───────── | ───────── | ─────────
| Net book value
| At 31 December 2025 | - | - | -
|  | ═════════ | ═════════ | ═════════
| Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

8. | Property, plant and equipment
|  | Leased | Office | Motor | VOIP | Total
|  | Equipment | Equipment | vehicles | Equipment |
|  | £ | £ | £ | £ | £
| Cost
| At 1 January 2025 | 91,520 | 237,816 | - | 3,539 | 332,875
| Additions | - | 3,332 | 50,000 | - | 53,332
|  | ───────── | ───────── | ───────── | ───────── | ─────────
| At 31 December 2025 | 91,520 | 241,148 | 50,000 | 3,539 | 386,207
|  | ───────── | ───────── | ───────── | ───────── | ─────────
| Depreciation
| At 1 January 2025 | 91,520 | 226,629 | - | 3,539 | 321,688
| Charge for the financial year | - | 12,023 | 3,751 | - | 15,774
|  | ───────── | ───────── | ───────── | ───────── | ─────────
| At 31 December 2025 | 91,520 | 238,652 | 3,751 | 3,539 | 337,462
|  | ───────── | ───────── | ───────── | ───────── | ─────────
| Net book value
| At 31 December 2025 | - | 2,496 | 46,249 | - | 48,745
|  | ═════════ | ═════════ | ═════════ | ═════════ | ═════════
| At 31 December 2024 | - | 11,187 | - | - | 11,187
|  | ═════════ | ═════════ | ═════════ | ═════════ | ═════════

9. | Financial fixed assets
|  | Group and | Total
|  | participating |
|  | interests/ |
|  | joint ventures |
| Investments | £ | £
| Cost
| At 31 December 2025 | 1,100,090 | 1,100,090
|  | ───────── | ─────────
| Net book value
| At 31 December 2025 | 1,100,090 | 1,100,090
|  | ═════════ | ═════════
| At 31 December 2024 | 1,100,090 | 1,100,090
|  | ═════════ | ═════════
| The investment in Voxbit Ltd, has been valued at cost

9.1. | Holdings in related undertakings
| The company holds 20% or more of the share capital of the following companies:
|  | Country | Nature |  | Details | Proportion
|  | of | of |  | of | held by
| Name | incorporation and address of Registered Office | business |  | investment | company
| Subsidiary undertaking
| Barclay Telecom Limited |  | Tele-communications |  | Ordinary shares | 50%
| Voxbit Ltd |  | Tele-communications |  | Ordinary/ Preference shares | 90%
| In the opinion of the directors, the value to the company of the unlisted investments is not less than the book amount shown above.

10. | Stocks | 2025 | 2024
|  | £ | £
| Finished goods and goods for resale | 6,558 | 22,025
|  | ═════════ | ═════════
| The replacement cost of stock did not differ significantly from the figures shown.

11. | Debtors | 2025 | 2024
|  | £ | £
| Trade debtors | 20,577 | 39,420
| Amounts owed by group undertakings | 2,032,532 | 1,632,949
| Amounts owed by related parties | 461,610 | 461,610
| Other debtors | 96,913 | 122,333
| Directors' current accounts (Note 19) | - | 59,841
| Prepayments and accrued income | 37,224 | 38,074
|  | ───────── | ─────────
|  | 2,648,856 | 2,354,227
|  | ═════════ | ═════════
| Debtors include £2,032,532 (2024: £1,632,949) due from subsidiary company, Voxbit Limited. Voxbit Limited is a company that develops VOIP technology that has yet to be fully commercially exploited. To date that company has invested heavily in developing its platform, funded by government grant, R&D tax credits and loans from Clarity Telecom and the directors remain confident these loans will be fully repaid.

| Amounts falling due after more than one year and included in debtors are:
|  | 2025 | 2024
|  | £ | £
| Amounts owed by group undertakings | 2,032,532 | 1,632,949
|  | ═════════ | ═════════

12. | Creditors | 2025 | 2024
| Amounts falling due within one year | £ | £
| Bank overdrafts | 10,894 | 47,425
| Other Loans | 67,149 | 99,937
| Trade creditors | 92,980 | 118,069
| Amounts owed to group undertakings | 327,327 | 250,409
| Taxation and social security costs (Note 14) | 79,785 | 84,312
| Directors' current accounts | 44,443 | -
| Other creditors | 7,809 | 14,786
| Accruals | 13,161 | 55,448
|  | ───────── | ─────────
|  | 643,548 | 670,386
|  | ═════════ | ═════════
| Clarity Telecom Limited has a sister company that operates in the Republic of Ireland. At the year end Clarity Telecom Limited had a liability to the group company of £327,327 (2024: £250,409).

13. | Creditors | 2025 | 2024
| Amounts falling due after more than one year | £ | £
| Other Loans | - | 82,191
| Amounts owed to connected parties (Note 18) | - | 693,789
|  | ───────── | ─────────
|  | - | 775,980
|  | ═════════ | ═════════
| Loans
| Repayable in one year or less, or on demand (Note 12) | 78,043 | 147,362
| Repayable between one and two years | - | 82,191
|  | ───────── | ─────────
|  | 78,043 | 229,553
|  | ═════════ | ═════════

14. | Taxation and social security | 2025 | 2024
|  | £ | £
| Creditors:
| VAT | 63,092 | 73,649
| PAYE / NI | 16,693 | 10,663
|  | ───────── | ─────────
|  | 79,785 | 84,312
|  | ═════════ | ═════════

15. | Provisions for liabilities
| The amounts provided for deferred taxation are analysed below:
|  | Capital | Losses | Other | Total | Total
|  | allowances |  | differences |  |
|  |  |  |  | 2025 | 2024
|  | £ | £ | £ | £ | £
| At financial year start | 1,941 | - | (692) | 1,249 | 3,120
| Charged to profit and loss | 9,441 | - | (203) | 9,238 | (1,871)
| Utilised during the financial year | - | (21,068) | - | (21,068) | -
|  | ───────── | ───────── | ───────── | ───────── | ─────────
| At financial year end | 11,382 | (21,068) | (895) | (10,581) | 1,249
|  | ═════════ | ═════════ | ═════════ | ═════════ | ═════════

16. | Reserves
| Share Premium Reserve
| The share premium account comprises £1,151,415 in respect of ordinary shares and £920,638 in respect of redeemable, convertible C class preference shares.

17. | Capital commitments
| The company had no material capital commitments at the financial year-ended 31 December 2025.

18. | Related party transactions
| The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
| The following amounts are due to other connected parties:
|  |  |  | 2025 | 2024
|  |  |  | £ | £
| Amounts falling due after more than one year |  |  | - | 693,789
|  |  |  | ═════════ | ═════════

19. | Directors' advances, credits and guarantees
| During the year ended 31 December 2025, the directors of the company were; Mr David Whelan, Mr David O'Reilly, Mr Paul Smith, and Mr Adam Dowie. During the year the company received repayments from a director totalling £104,284. At 31 December 2025 the director loaned to the company £44,443 (2024: the director owed the company owed the director £59,841). During the year there was no movement on a loan owed to the company by a former director. At 31 December 2025 the former director owed the company £38,079 (2024: £38,079). These amounts are interest free and are repayable on demand.

20. | Controlling interest
| The company was under the control of the directors throughout the current and previous year

21. | Events After the End of the Reporting Period
| There have been no significant trading events affecting the company since the financial year-end.

22. | Other Loans
| At 31 December 2024, the company owed £Nil (2024: £693,789) to its shareholders. No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.

23. | Amounts due from related parties
| At 31 December 2025 the company was owed £461,610 (2024: £461,420) from a company in which it has a 50% interest. The debt due is disputed and legal action is being taken in respect of its recovery. Whilst payment has not yet been received, the directors are confident about its recovery. In addition, whilst no equity value has been ascribed to the JV investment, the directors expect that the legal proceedings will result in the company receiving in excess of the £461,610 owed to it.

24. | Share Capital - Preference shares.
| During the year Clarity Telecom Limited issued 267,061 £1 Preference shares at a premium of £905,478, redeemable within 3 years, or the right to convert to ordinary shares. In total the company has issued 920,638 redeemable, convertible C class Preference shares at a premium of £920,638.