Nevaya Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Nevaya Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04686042 . The registered office is Unit 17 Cirencester Office Park, Tetbury Road, Cirencester.

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. 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.

2.3. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over 5 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.4. 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	0%-25% reducing balance
Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Computer Equipment	25% reducing balance

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Nevaya Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. 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.

2.8. Taxation

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

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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Nevaya Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.9. 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.

2.10. Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 14 (2025: 13)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 April 2025	3,293,642
Additions	449,430

As at 31 March 2026	3,743,072

Amortisation
As at 1 April 2025	2,545,835
Provided during the period	383,904

As at 31 March 2026	2,929,739

Net Book Value
As at 31 March 2026	813,333

As at 1 April 2025	747,807

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Nevaya Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2025	390,066	401,162	-	242,743	1,033,971
Additions	1,470	12,984	20,900	106,771	142,125
Disposals	-	-	-	(22,648 )	(22,648 )

As at 31 March 2026	391,536	414,146	20,900	326,866	1,153,448

Depreciation
As at 1 April 2025	22,807	225,143	-	93,109	341,059
Provided during the period	19,504	40,014	862	34,311	94,691
Disposals	-	-	-	(15,947 )	(15,947 )

As at 31 March 2026	42,311	265,157	862	111,473	419,803

Net Book Value
As at 31 March 2026	349,225	148,989	20,038	215,393	733,645

As at 1 April 2025	367,259	176,019	-	149,634	692,912

6. Stocks

	2026	2025
	£	£
Stock	484,756	550,759

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	63,063	191,529
Other debtors	76,548	54,993

	139,611	246,522

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Nevaya Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	135,689	162,525
Bank loans and overdrafts	28,090	77,199
Other creditors	1,526,741	1,424,988
Taxation and social security	158,093	152,825

	1,848,613	1,817,537

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

	2026	2025
	£	£
Bank loans	146,825	175,797

10. Secured Creditors

Of the creditors the following amounts are secured.

	2026		2025
	£		£
Bank loans and overdrafts	166,583		252,996

11. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Accelerated capital allowances	296,203	268,905

12. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	2	2

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Nevaya Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

13. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Within 1 year	11,137	15,132
Between 1 and 5 years	27,518	-

	38,655	15,132

14. Related Party Transactions

During the year dividends of £760,000 (2025: £560,000) were paid to the shareholders.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		813,333		747,807
Tangible Assets	5		733,645		692,912

			1,546,978		1,440,719
CURRENT ASSETS
Stocks	6	484,756		550,759
Debtors	7	139,611		246,522
Cash at bank and in hand		1,264,405		1,064,614

		1,888,772		1,861,895
Creditors: Amounts Falling Due Within One Year	8	(1,848,613 )		(1,817,537 )

NET CURRENT ASSETS (LIABILITIES)			40,159		44,358

TOTAL ASSETS LESS CURRENT LIABILITIES			1,587,137		1,485,077

Creditors: Amounts Falling Due After More Than One Year	9		(146,825 )		(175,797 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	11		(296,203 )		(268,905 )

NET ASSETS			1,144,109		1,040,375

CAPITAL AND RESERVES
Called up share capital	12		2		2
Share premium account			2,844		2,844
Other reserves			166,884		98,364
Profit and Loss Account			974,379		939,165

SHAREHOLDERS' FUNDS			1,144,109		1,040,375