Company No: 06410563 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		$		$
Current assets
Debtors	4	8,077		8,077
Cash at bank and in hand		16,425		119,060
		24,502		127,137
Creditors: amounts falling due within one year	5	( 129,824,043)		( 126,821,049)
Net current liabilities		(129,799,541)		(126,693,912)
Total assets less current liabilities		(129,799,541)		(126,693,912)
Net liabilities		( 129,799,541)		( 126,693,912)
Capital and reserves
Called-up share capital	6	6,000,000		6,000,000
Profit and loss account		( 135,799,541 )		( 132,693,912 )
Total shareholder's deficit		( 129,799,541)		( 126,693,912)

For the financial 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.

Director's responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Mondis Techonology Limited (registered number: 06410563) were approved and authorised for issue by the Director. They were signed on its behalf by:

M B Spiro Director

22 September 2026

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mondis Techonology Limited (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 4 Spaniards Park, 1 Columbas Drive 4 Spaniards Park, 1 Columbas Drive, London, NW3 7JD, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in USD which is the functional currency of the company and rounded to the nearest $.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of $129,799,541. The company is supported through loans from the Parent Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

6 - 0 years straight line

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 76 months which is their estimated useful economic life. Provision is made for any impairment.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	1		1

3. Intangible assets

	Other intangible assets		Total
	$		$
Cost
At 01 January 2025	150,000,000		150,000,000
At 31 December 2025	150,000,000		150,000,000
Accumulated amortisation
At 01 January 2025	150,000,000		150,000,000
At 31 December 2025	150,000,000		150,000,000
Net book value
At 31 December 2025	0		0
At 31 December 2024	0		0

4. Debtors

	2025		2024
	$		$
Amounts owed by group undertakings	3,258		3,258
Other debtors	4,819		4,819
	8,077		8,077

5. Creditors: amounts falling due within one year

	2025		2024
	$		$
Amounts owed to related parties	123,726,556		121,217,609
Other creditors	6,097,487		5,603,440
	129,824,043		126,821,049

6. Called-up share capital

	2025		2024
	$		$
Allotted, called-up and fully-paid
4,800,000 Ordinary A shares of US $ 1.00 each	4,800,000		4,800,000
1,200,000 Ordinary B shares of US $ 1.00 each	1,200,000		1,200,000
	6,000,000		6,000,000

7. Related party transactions

Transactions with owners holding a participating interest in the entity

	2025		2024
	$		$
Included within creditors is a balance due to a fellow group company. This balance is unsecured and repayable on demand with no fixed repayment terms. Interest of $2,298,947 (2024: $2,288,327) has been charged in the year.	27,335,556		24,806,609
Included within debtors is a balance owed by a fellow group company. This balance is unsecured and interest free and repayable on demand with no fixed repayment terms.	3,258		3,258
Included within creditors is a balance owed to a fellow group company. This balance is unsecured and interest free and repayable on demand with no fixed repayment terms.	96,391,000		96,411,000

8. Ultimate controlling party

Parent Company:

Inpro Limited

48 Themistoklis Dervis Avenue Centennial Building Office 701 1066 Nicosia Cyprus