WORKATHLON LTD Company accounts

COMPANY REGISTRATION NUMBER: 12484479

WORKATHLON LTD

Unaudited Financial Statements

28 February 2026

WORKATHLON LTD

Financial Statements

Year ended 28 February 2026

Contents	Page

Director's report	1

Income statement	2

Statement of financial position	3

Statement of changes in equity	4

Notes to the financial statements	5

WORKATHLON LTD

Director's Report

Year ended 28 February 2026

The director presents his report and the unaudited financial statements of the company for the year ended 28 February 2026 .

Principal activities

The principal activity of the company during the year was holding of shares and intangible assets

Director

The director who served the company during the year was as follows:

Mr. Theofilos Vasileiadis

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 7 August 2026 and signed on behalf of the board by:

Mr. Theofilos Vasileiadis	Theofilos Vasileiadis
Director	Company Secretary

WORKATHLON LTD

Income Statement

Year ended 28 February 2026

	2026	2025
Note	€	€

Administrative expenses	( 7,357)	( 3,403)
	-------	-------
Operating loss	( 7,357)	( 3,403)

Income from shares in group undertakings	( 318,185)	–
	---------	-------
Loss before taxation	( 325,542)	( 3,403)

Tax on loss	–	–
	---------	-------
Loss for the financial year	( 325,542)	( 3,403)
	---------	-------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

WORKATHLON LTD

Statement of Financial Position

28 February 2026

	2026	2025
Note	€	€

Fixed assets

Intangible assets	4	268,000	268,000
Investments	5	–	418,185
		---------	---------
		268,000	686,185

Current assets

Debtors	6	–	363
Cash at bank and in hand		36,469	3,889
		--------	-------
		36,469	4,252

Creditors: amounts falling due within one year	7	18,470	78,896
		--------	--------
Net current assets/(liabilities)		17,999	( 74,644)
		---------	---------
Total assets less current liabilities		285,999	611,541
		---------	---------
Net assets		285,999	611,541
		---------	---------

Capital and reserves

Called up share capital	690,286	690,286
Profit and loss account	( 404,287)	( 78,745)
	---------	---------
Shareholders funds	285,999	611,541
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 7 August 2026 , and are signed on behalf of the board by:

Mr. Theofilos Vasileiadis
Director

Company registration number: 12484479

WORKATHLON LTD

Statement of Changes in Equity

Year ended 28 February 2026

	Called up share capital	Profit and loss account	Total
	€	€	€
At 1 March 2024	690,286	( 75,342)	614,944

Loss for the year		( 3,403)	( 3,403)
	---------	--------	---------
Total comprehensive income for the year	–	( 3,403)	( 3,403)

At 28 February 2025	690,286	( 78,745)	611,541

Loss for the year		( 325,542)	( 325,542)
	---------	---------	---------
Total comprehensive income for the year	–	( 325,542)	( 325,542)

	---------	---------	---------
At 28 February 2026	690,286	( 404,287)	285,999
	---------	---------	---------

WORKATHLON LTD

Notes to the Financial Statements

Year ended 28 February 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 82 St. John Street, London, EC1M 4JN, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements are prepared in euro, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

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 only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Intangible assets

	Patents, trademarks and licences
	€
Cost
At 1 March 2025 and 28 February 2026	268,000
	---------
Amortisation
At 1 March 2025 and 28 February 2026	–
	---------
Carrying amount
At 28 February 2026	268,000
	---------
At 28 February 2025	268,000
	---------

5. Investments

	Shares in group undertakings
	€
Cost
At 1 March 2025	418,185
Disposals	( 418,185)
	---------
At 28 February 2026	–
	---------
Impairment
At 1 March 2025 and 28 February 2026	–
	---------

Carrying amount
At 28 February 2026	–
	---------
At 28 February 2025	418,185
	---------

6. Debtors

	2026	2025
	€	€
Other debtors	–	363
	----	----

7. Creditors: amounts falling due within one year

	2026	2025
	€	€
Trade creditors	130	138
Accruals and deferred income	1,780	1,598
Workathlon IKE	16,560	77,160
	--------	--------
	18,470	78,896
	--------	--------