Communify Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Allfunds Tech Solutions UK Limited.

The address of its registered office is:
6th Floor
2 Fitzroy Place
8 Mortimer Street
London
W1T 3JJ

These financial statements were authorised for issue by the Board on 15 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

After reviewing the company’s forecasts and projections, the Directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. The Directors therefore believe that it remains appropriate to prepare the financial statements on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 15 September 2026 was Stephen Grayson ACA FCCA, who signed for and on behalf of Cooper Parry Group Limited.

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Communify Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Servers and networks	25% on cost
Furniture and fittings	10% on cost
Office equipment	10% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed twenty years if a reliable estimate of the useful life cannot be made.

Development Costs

Development costs are being amortised evenly over their estimated useful life of five years.

Communify Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Website Costs

Website costs are being amortised evenly over their estimated useful life of five years.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee Benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Communify Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

4

Taxation

Pillar Two Model Rules

Pillar Two forms part of the global tax reform led by the OCED and the G20 which aims to ensure that large multinational groups are subject to a minimum level of taxation in each jurisdiction in which they operate. The framework is set out in the Global Anti-Base Erosion (“Globe”) Model Rules.

Affected groups are required to calculate their effective tax rate (“ETR”) for each country or territory in which they operate under the GloBE Rules. If this rate is below the minimum rate of 15%, as a general rule, the group will be required to pay a top-up tax on the difference.

The Ultimate Parent Entity (“UPE”) of the Allfunds group is Allfunds Group plc, located in the United Kingdom, where the UK Pillar Two legislation was enacted in 2023. The UK’s Pillar Two rules apply for accounting periods beginning on or after 31 December 2023 and will apply in respect of profits for every jurisdiction where the Group operates.

Therefore, Allfunds Group plc will be, under the primary rule established in the GloBE Rules, responsible for the top-up tax in relation to its operations and all its constituent entities, except in those countries where a qualified domestic minimum top-up tax (“QDMTT”) considered as a “safe harbor” has been approved.

The Company qualifies as a Constituent entity of the Group plc for Pillar 2 purposes.

The Group has determined that the global minimum top-up tax is an income tax within the scope of IAS 12. In May 2023, the IASB published an amendment to IAS 12 related to the Pillar Two rules to introduce a mandatory exception to the requirement to recognize and disclose information on deferred tax assets and liabilities arising from the implementation of these rules.

However, because no new legislation to implement the top-up tax was effective on 31 December 2023 in the jurisdictions in which the Group operates and no related deferred tax was recognized at that date, the retrospective application has no impact on the Allfunds Group plc´s consolidated financial statements.

The OECD has established some simplifications rules, among others, a transitional safe harbor (in place until 2026) and a permanent safe harbor (although the last one to be further developed). In 2024, in the case of a jurisdiction is not covered by the so-called transitional safe harbor based on the country-by-country report (“Transitional CbC Safe Harbors”), they will be required to calculate the ETR according to Pillar Two rule and to pay the relevant top-up tax if the ETR is below 15%.

The Group has assessed the exposure that the Globe Model Rules could have on the Group considering the latest available financial statements.

In particular, the Group has analyzed whether the Transitional CbC Safe Harbors published by the OECD could be applicable for the year 2025 in each jurisdiction. Based on the financial information as of December 31, 2025, and to what concerns the Company and the UK, at least one of the three tests is met and, thus, no top-up tax would be payable.
 

Communify Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Tax Assets

The Company has the following unrecognised tax losses from prior years, as the timing of their possible recovery is uncertain since it depends on future taxable profits being obtained:
 

Year Incurred	Tax Base Amount (£)
Pre-2017	46,801
Post-2017	1,297,870
Total	1,344,671

5	Intangible assets

	Goodwill  £	Website Costs £	Development costs  £	Total £
Cost or valuation
At 1 January 2025	2,355,390	369,500	1,220,002	3,944,892
At 31 December 2025	2,355,390	369,500	1,220,002	3,944,892
Amortisation
At 1 January 2025	588,850	369,500	1,220,002	2,178,352
Amortisation charge	117,770	-	-	117,770
At 31 December 2025	706,620	369,500	1,220,002	2,296,122
Carrying amount
At 31 December 2025	1,648,770	-	-	1,648,770
At 31 December 2024	1,766,540	-	-	1,766,540

Communify Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

6	Tangible assets

	Fixtures and fittings £	Other tangible assets  £	Total £
Cost or valuation
At 1 January 2025	734,604	414,482	1,149,086
At 31 December 2025	734,604	414,482	1,149,086
Depreciation
At 1 January 2025	716,432	411,438	1,127,870
Charge for the year	6,080	3,044	9,124
At 31 December 2025	722,512	414,482	1,136,994
Carrying amount
At 31 December 2025	12,092	-	12,092
At 31 December 2024	18,172	3,044	21,216

7

Debtors

	Note	2025 £	2024 £
Trade debtors		398,224	1,998,832
Amounts owed by related parties		205,962	-
Other debtors		167,304	264,207
Prepayments		494,144	464,433
		1,265,634	2,727,472

Trade debtors are included net of bad debt provision £29,799 (2024: £141,913)

8

Creditors

	Note	2025 £	2024 £
Due within one year
Trade creditors		530,531	881,045
Amounts owed to related parties		304,387	51,875
Taxation and social security		12,727	242,104
Accruals and deferred income		1,265,178	2,424,208
Other creditors		3,198	2,264
		2,116,021	3,601,496