REGISTERED NUMBER: 14243546 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Agreena Technology Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Karl Skovgaard

S Haldrup

REGISTERED OFFICE:

820-822 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

REGISTERED NUMBER:

14243546 (England and Wales)

AUDITORS:

Krogh & Partners Limited, (Statutory Auditor)

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

FIXED ASSETS

Tangible assets

4

1,105

24,923

CURRENT ASSETS

Debtors

5

1,789,286

7,918,184

Cash at bank

1,288,459

92,050

3,077,745

8,010,234

CREDITORS

Amounts falling due within one year

6

1,793,019

4,664,939

NET CURRENT ASSETS

1,284,726

3,345,295

TOTAL ASSETS LESS CURRENT LIABILITIES

1,285,831

3,370,218

CREDITORS

Amounts falling due after more than one year

7

2,195,267

4,315,058

NET LIABILITIES

(909,436

)

(944,840

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(909,536

)

(944,940

)

SHAREHOLDERS' FUNDS

(909,436

)

(944,840

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2026 and were signed on its behalf by:

S Haldrup - Director

1.	STATUTORY INFORMATION

Agreena Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going concern

The financial statements have been prepared on the going concern basis as the immediate parent company has agreed to provide the company with adequate funds to meet its liabilities as they fall due. The directors have no reason to believe that this financial support will not continue in the future, and as the parent company through agreement with its lenders has sufficient cash flow projections until at least 30 September 2027, the directors consider it appropriate to adopt a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Cost of sales

Cost of sales comprise costs incurred in generating revenue for the year. Such costs include expenses related to cloud solutions, etc.

Administration expenses

Administrative expenses include expenses relating to the Entity's ordinary activities, including expenses for

premises, staff costs, marketing costs, etc.

Operating lease

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

The company makes claims under the SME R&D tax relief scheme. Tax credits arising from claims under the SME R&D tax relief scheme are reflected as a reduction in the Corporation Tax charge or, if loss making, as a Corporation Tax credit. Tax credits received or receivable from R&D claims are recognised in the reporting period in which the qualifying expenditure is incurred.

Staff costs

Staff costs comprise wages and salaries, and social security contributions, pension contributions, etc. for entity staff.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Interest and similar income and charges

Interest and similar income and charges are recognised in the profit and loss account over the term of such instruments at a constant rate on the carrying amount.

Foreign currencies

Transactions denominated in foreign currencies are recorded at the rates of exchange ruling at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at period end rates. The resulting exchange differences are dealt with in the profit and loss account in the period to which they arise.

Financial instruments

The company only has financial assets and liabilities of a kind that qualify as basic financial instruments.

Basic financial instruments are initially recognised at transaction value and subsequently measured at their

settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Tangible fixed assets

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

Plant & machinery

50% per annum, straight line basis

Computer equipment

50% per annum, straight line basis

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Debtors

Debtors are valued individually and a provision is made according to this valuation.

Cash at bank

Cash at bank include deposits held at call with banks.

Creditors

Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortized cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2024 - 52 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

120,847

DEPRECIATION

At 1 January 2025

95,924

Charge for year

23,818

At 31 December 2025

119,742

NET BOOK VALUE

At 31 December 2025

1,105

At 31 December 2024

24,923

5.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

10,315

12,788

Amounts owed by group undertakings

865,546

6,443,197

Other debtors

11,340

56,625

Tax

60,649

168,207

VAT

422,887

381,272

Prepayments and accrued income

8,253

5,799

1,378,990

7,067,888

Amounts falling due after more than one year:

Amounts owed by group undertakings

410,296

850,296

Aggregate amounts

1,789,286

7,918,184

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,965

39,373

Amounts owed to group undertakings

1,508,679

4,362,248

Social security and other taxes

127,870

183,590

Other creditors

151,505

79,728

1,793,019

4,664,939

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group

undertakings

2,195,267

4,315,058

2,195,267

4,315,058

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

15,286

22,680

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Lindegaard (Senior Statutory Auditor)

for and on behalf of Krogh & Partners Limited, (Statutory Auditor)

11.	GUARANTEES AND SECURITIES

As security for intercompany loans as per 31 December 2025 of £3,696,535 (2024: £7,863,226) from the parent undertaking Agreena ApS, the company has issued Letter of Debenture with negative pledge in all intellectual property and in all fixed and floating assets belonging to the company.

As part of a group financing agreement, the company is chargor in Letter of Group Debenture with negative pledge in all fixed and floating assets belonging to the company as security for the Agreena ApS group's debt with a group of lenders represented by Triplepoint Capital LLC as collateral agent with a liability as per 31 December 2025 of £15,857,164 (2024: £9,984,361).

12.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Agreena ApS, a company incorporated and registered in Denmark.

Agreena ApS (incorporated in Denmark) is the smallest group to consolidate these financial statements and copies can be obtained from:

Agreena ApS

Langebrogade 3F, 3.

1411 København K

Denmark