Zelim Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

Registered number: 11010715

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		147,797		144,299
Tangible Assets	5		389,931		260,354

			537,728		404,653
CURRENT ASSETS
Debtors	6	1,308,269		630,667
Cash at bank and in hand		1,757,845		3,323,400

		3,066,114		3,954,067
Creditors: Amounts Falling Due Within One Year	7	(1,384,030 )		(280,193 )

NET CURRENT ASSETS (LIABILITIES)			1,682,084		3,673,874

TOTAL ASSETS LESS CURRENT LIABILITIES			2,219,812		4,078,527

Creditors: Amounts Falling Due After More Than One Year	8		(1,951,170 )		(884,910 )

NET ASSETS			268,642		3,193,617

CAPITAL AND RESERVES
Called up share capital	9		577		577
Share premium account			8,242,762		8,242,762
Capital redemption reserve			18		18
Profit and Loss Account			(7,974,715 )		(5,049,740 )

SHAREHOLDERS' FUNDS			268,642		3,193,617

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Zelim Limited

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr A H Gilbert

Director

30 July 2026

The notes on pages 3 to 7 form part of these financial statements.

1. General Information

Zelim Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11010715 . The registered office is Garreg Lwyd, Llanrhaeadr, Denbigh, Denbighshire, LL16 4PW.

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

The directors have carried out an assessment of the going concern position of the company, including consideration of the company's net liability position. The directors have concluded that they have a reasonable expectation that the company has adequate access to resources to continue as a going concern for a period of at least 12 months from authorising these accounts. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

2.3. 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 the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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.

2.4. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property assets are international patents. They are amortised to the profit and loss account over their estimated economic life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	2 years straight line
Plant & Machinery	3 - 5 years straight line
Fixtures & Fittings	3 years straight line
Computer Equipment	3 years straight line

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Zelim Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

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. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

2.8. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 35 (2024: 24)

4. Intangible Assets

	Website Development	Patents	Total
	£	£	£
Cost
As at 1 January 2025	6,159	175,284	181,443
Additions	-	23,453	23,453

As at 31 December 2025	6,159	198,737	204,896

Amortisation
As at 1 January 2025	308	36,836	37,144
Provided during the period	616	19,339	19,955

As at 31 December 2025	924	56,175	57,099

Net Book Value
As at 31 December 2025	5,235	142,562	147,797

As at 1 January 2025	5,851	138,448	144,299

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Zelim Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

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Zelim Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2025	3,090	69,694	13,634	283,083	369,501
Additions	4,514	-	2,402	305,957	312,873

As at 31 December 2025	7,604	69,694	16,036	589,040	682,374

Depreciation
As at 1 January 2025	386	40,159	5,231	63,371	109,147
Provided during the period	2,172	11,032	4,324	165,768	183,296

As at 31 December 2025	2,558	51,191	9,555	229,139	292,443

Net Book Value
As at 31 December 2025	5,046	18,503	6,481	359,901	389,931

As at 1 January 2025	2,704	29,535	8,403	219,712	260,354

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	10,249
Prepayments and accrued income	1,209,640	497,644
Other debtors	28,503	21,438
VAT	34,168	93,283
Amounts owed by related parties	35,958	8,053

	1,308,269	630,667

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Zelim Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	152,189	54,784
Other taxes and social security	90,593	68,557
Other creditors	7,681	6,215
Advanced subscriptions for shares	1,010,465	-
Accruals and deferred income	123,102	150,637

	1,384,030	280,193

Amounts received in advance of share subscriptions represent consideration received from investors in respect of shares not yet allotted at the balance sheet date. The directors intend to allot the relevant shares within 12 months of the year end. The amounts are unsecured, interest-free and repayable only in the event that the relevant allotment does not proceed.

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other loans	1,951,170	884,910

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	577	577

10. Related Party Transactions

Zelim LLC

As at 31 December 2025, the company was owed £35,957 (2024: £8,053) by Zelim LLC.

I7V Renewables Limited

The companies are related by virtue of a common director.

In the year to 31 December 2025, payments of £5,000 (2024: £52,000) were made in relation to services provided by I7V Renewables Limited.

Kero Limited

The parties are related by directorship.

In the year to 31 December 2025, payments of £5,500 (2024: £2,000) were made in relation to services provided by Kero Ltd.

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