Loren Networks Holding Ltd

Contents
	Page
Directors' Report	1
Consolidated Profit and Loss Account	2
Consolidated Balance Sheet	3—4
Company Balance Sheet	5—6
Notes to the Financial Statements	7—12

The directors present their report and the financial statements for the year ended 31 December 2025.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who held office during the year were as follows:

Mr Richard Clegg

Mr William Clegg

Mr Sevdalin Stanev

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

On behalf of the board

Mr Richard Clegg

Director

16/09/2026

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Loren Networks Holding Ltd

Consolidated Profit and Loss Account

For The Year Ended 31 December 2025

Consolidated Profit and Loss Account

		31 December 2025	31 December 2024
	Notes	£	£
TURNOVER		1,759,436	2,230,483
Cost of sales		(1,310,849 )	(1,661,492 )

GROSS PROFIT		448,587	568,991

Administrative expenses		(392,459 )	(435,530 )
Other operating income		3,491	5,248

OPERATING PROFIT		59,619	138,709
Loss on disposal of fixed asset investments		(5)	-
Interest payable and similar charges		(18,327 )	(18,369 )

PROFIT BEFORE TAXATION		41,287	120,340
Tax on Profit		(5,237 )	-

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		36,050	120,340

The notes on pages 7 to 12 form part of these financial statements.

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Loren Networks Holding Ltd

Consolidated Balance Sheet

As At 31 December 2025

Consolidated Balance Sheet

Registered number: 15344737

		31 December 2025		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	3		2,544,987		1,765,604
Tangible Assets	4		44,195		39,361
Investments	5		-		5

			2,589,182		1,804,970
CURRENT ASSETS
Debtors	6	547,503		556,309
Cash at bank and in hand		18,748		24,905

		566,251		581,214
Creditors: Amounts Falling Due Within One Year	7	(1,656,468 )		(1,142,112 )

NET CURRENT ASSETS (LIABILITIES)			(1,090,217 )		(560,898 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,498,965		1,244,072

Creditors: Amounts Falling Due After More Than One Year	8		(382,851 )		(184,051 )

NET ASSETS			1,116,114		1,060,021

CAPITAL AND RESERVES
Called up share capital	10		59		59
Share premium account			348,763		348,763
Revaluation reserve	11		20,043		-
Other reserves			109,337		109,337
Profit and Loss Account			637,912		601,862

SHAREHOLDERS' FUNDS			1,116,114		1,060,021

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Loren Networks Holding Ltd

Consolidated 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.

On behalf of the board

Mr Richard Clegg

Director

16/09/2026

The notes on pages 7 to 12 form part of these financial statements.

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Loren Networks Holding Ltd

Company Balance Sheet

As At 31 December 2025

Company Balance Sheet

Registered number: 15344737

		31 December 2025		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Investments	5		113,217		113,217

			113,217		113,217
CURRENT ASSETS
Debtors	6	580,514		305,262
Cash at bank and in hand		468		4,350

		580,982		309,612
Creditors: Amounts Falling Due Within One Year	7	(341,211 )		(89,404 )

NET CURRENT ASSETS (LIABILITIES)			239,771		220,208

TOTAL ASSETS LESS CURRENT LIABILITIES			352,988		333,425

NET ASSETS			352,988		333,425

CAPITAL AND RESERVES
Called up share capital	10		59		59
Share premium account			348,763		348,763
Profit and Loss Account			4,166		(15,397 )

SHAREHOLDERS' FUNDS			352,988		333,425

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Loren Networks Holding Ltd

Company Balance Sheet (continued)

As At 31 December 2025

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit/(loss) for the year was £ 19,563 (2024: £(15,397 ) loss).

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 Richard Clegg

Director

16/09/2026

The notes on pages 7 to 12 form part of these financial statements.

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Loren Networks Holding Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. Accounting Policies

1.1. 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.

1.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 December 2025.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

1.3. Business Combinations

Business combinations are accounted for by applying the purchase method.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.

Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.

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Loren Networks Holding Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

1.4. 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.

1.5. 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:

Facilities - 3.33 years
Machinery and equipment - 3.33 years
Computer equipment - 2 years
Vehicles - 4 years
Furniture and fixed assets - 6.67 years

1.6. 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 group. 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.

1.7. 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.

1.8. 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 group'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.

...CONTINUED

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Loren Networks Holding Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

1.8. Taxation - continued

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.

2. Average Number of Employees

Group

Average number of employees, including directors, during the year was as follows: 26 (2024: 24)

Company

Average number of employees, including directors, during the year was: 3 (2024: 3)

3. Intangible Assets

Group

	Development Costs	Intellectual Property	Total
	£	£	£
Cost or Valuation
As at 1 January 2025	1,274,460	651,651	1,926,111
Additions	15,273	754,916	770,189
Revaluations	42,803	13,465	56,268

As at 31 December 2025	1,332,536	1,420,032	2,752,568

Amortisation
As at 1 January 2025	160,507	-	160,507
Provided during the period	41,891	-	41,891
Revaluations	5,183	-	5,183

As at 31 December 2025	207,581	-	207,581

Net Book Value
As at 31 December 2025	1,124,955	1,420,032	2,544,987

As at 1 January 2025	1,113,953	651,651	1,765,604

Company

The company had no intangible fixed assets as at 31 December 2025 or 31 December 2024.

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Loren Networks Holding Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Tangible Assets

Group

	Plant & Machinery
	£
Cost or Valuation
As at 1 January 2025	134,266
Additions	14,837
Revaluation	3,123

As at 31 December 2025	152,226

Depreciation
As at 1 January 2025	94,905
Provided during the period	10,909
On revaluations	2,217

As at 31 December 2025	108,031

Net Book Value
As at 31 December 2025	44,195

As at 1 January 2025	39,361

Company

The company had no tangible fixed assets as at 31 December 2025 or 31 December 2024.

5. Investments

Group

	Unlisted
	£
Cost
As at 1 January 2025	5
Disposals	(5 )

As at 31 December 2025	-

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	-

As at 1 January 2025	5

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Loren Networks Holding Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Company

	Subsidiaries
	£
Cost or Valuation
As at 1 January 2025	113,217

As at 31 December 2025	113,217

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	113,217

As at 1 January 2025	113,217

6. Debtors

	Group		Company
	31 December 2025	31 December 2024	31 December 2025	31 December 2024
	£	£	£	£
Due within one year
Trade debtors	547,503	556,309	-	-
Due after more than one year
Amounts owed by group undertakings	-	-	580,514	305,262

	547,503	556,309	580,514	305,262

7. Creditors: Amounts Falling Due Within One Year

	Group		Company
	31 December 2025	31 December 2024	31 December 2025	31 December 2024
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	2,675	2,204	-	-
Trade creditors	223,817	382,707	-	-
Bank loans and overdrafts	807,880	266,255	-	-
Other creditors	572,161	431,383	341,211	89,404
Taxation and social security	49,935	59,563	-	-

	1,656,468	1,142,112	341,211	89,404

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Loren Networks Holding Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

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

	Group
	31 December 2025	31 December 2024
	£	£
Net obligations under finance lease and hire purchase contracts	1,783	4,408
Trade creditors	14,267	-
Bank loans	-	48,490
Other creditors	366,801	131,153

	382,851	184,051

9. Obligations Under Finance Leases and Hire Purchase

	Group
	31 December 2025	31 December 2024
	£	£
The maturity of these amounts is as follows:
Within one year	2,675	2,204
Between one and five years	1,783	4,408

	4,458	6,612

	4,458	6,612

10. Share Capital

	31 December 2025	31 December 2024
	£	£
Allotted, Called up and fully paid	59	59

11. Reserves

Group

	Revaluation Reserve
	£
Surplus on revaluation	75,209
Deficit on revaluation	(55,166)

As at 31 December 2025	20,043

12. General Information

Loren Networks Holding Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15344737 . The registered office is Charter Buildings, 9 Ashton Lane, Sale, M33 6WT.

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