ACCOUNTS - Final Accounts preparation

Auditor's remuneration

During the period, the Group obtained the following services from the Company's auditor:

As restated

12 February 2024 to

31 December

Registered number: 15483696

	FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 31 DECEMBER 2025

	EAS TECHNOLOGIES HOLDINGS LIMITED


EAS TECHNOLOGIES HOLDINGS LIMITED

COMPANY INFORMATION

Directors	P B Berg
	M Charpentier (appointed 1 May 2025)
	N V Fuller
	M S Mead
	R Taylor


Registered number	15483696


Registered office	Unit 1 Walton Lodge
	374 Coldharbour Lane
	London
	SW9 8PL


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	3000a Parkway
	Whiteley
	Hampshire
	PO15 7FX


EAS TECHNOLOGIES HOLDINGS LIMITED

CONTENTS

	Page
Consolidated balance sheet	1 - 2
Company balance sheet	3
Consolidated statement of changes in equity	4
Company statement of changes in equity	5
Notes to the financial statements	6 - 18

		2025	2024	% change
		£	£

Turnover	3,586,765	3,807,284	41%
Gross profit	3,476,376	2,207,939	57%
Loss before tax	(5,810,101)	(3,849,681)	51%
Average number of staff	39	35

Turnover increased by 41% to £5.39m (2024: £3.81m), reflecting continued growth in core activities. Gross profit rose by a stronger 57% to £3.48m (2024: £2.21m), indicating an improvement in gross margins and operational efficiency.

Despite this progress, the Group reported a loss before tax of £5.81m (2024: £3.85m). The increased loss primarily reflects continued investment in scaling the business including targeted expansion of capabilities and headcount to support future growth.

The Board remains focused on driving revenue growth, maintaining margin discipline, and managing the cost base carefully as the business continues to scale.


EAS TECHNOLOGIES HOLDINGS LIMITED REGISTERED NUMBER:15483696

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	7		9,156,841		11,966,938
Tangible assets	8		86,188		99,886
			9,243,029		12,066,824
Current assets
Debtors: amounts falling due within one year	10	1,394,891		666,568
Cash at bank and in hand		654,904		2,677,646
		2,049,795		3,344,214
Creditors: amounts falling due within one year	11	(1,898,225)		(1,713,191)
Net current assets			151,570		1,631,023
Total assets less current liabilities			9,394,599		13,697,847
Creditors: amounts falling due after more than one year	12		(18,634,472)		(17,225,104)
Provisions for liabilities
Deferred tax		(6,475)		(19,523)
Other provisions	13	(27,257)		(25,268)
			(33,732)		(44,791)
Net liabilities			(9,273,605)		(3,572,048)

Page 1


EAS TECHNOLOGIES HOLDINGS LIMITED REGISTERED NUMBER:15483696

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

		2025		2024
		£		£

Capital and reserves
Called up share capital	1,000	965
Share premium account	158,100	151,662
Foreign exchange reserve	24,538	(822)
Profit and loss account	(9,457,243)	(3,723,853)
	(9,273,605)	(3,572,048)

The Group's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P B Berg

Director

Date: 17 September 2026

The notes on pages 6 to 18 form part of these financial statements.

Page 2


EAS TECHNOLOGIES HOLDINGS LIMITED REGISTERED NUMBER:15483696

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Investments	9		1		1
			1		1
Current assets
Debtors: amounts falling due within one year	10	159,099		152,626
		159,099		152,626
Total assets less current liabilities			159,100		152,627


Net assets			159,100		152,627

Capital and reserves
Called up share capital	1,000	965
Share premium account	158,100	151,662
	159,100	152,627

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P B Berg

Director

Date: 17 September 2026

The notes on pages 6 to 18 form part of these financial statements.

Page 3

EAS TECHNOLOGIES HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 DECEMBER 2025

	Called up share capital	Share premium account	Foreign exchange reserve	Profit and loss account	Total equity
	£	£	£	£	£

Loss for the period	-	-	-	(3,723,853)	(3,723,853)
Shares issued during the period	965	151,662	-	-	152,627
Movement on re-translation of foreign subsidiaries	-	-	(822)	-	(822)

At 1 January 2025	965	151,662	(822)	(3,723,853)	(3,572,048)

Loss for the period	-	-	-	(5,733,390)	(5,733,390)
Shares issued during the period	35	6,438	-	-	6,473
Movement on re-translation of foreign subsidiaries	-	-	25,360	-	25,360
At 31 December 2025	1,000	158,100	24,538	(9,457,243)	(9,273,605)

The notes on pages 6 to 18 form part of these financial statements.

Page 4


EAS TECHNOLOGIES HOLDINGS LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 DECEMBER 2025

	Called up share capital	Share premium account	Total equity
	£	£	£
Shares issued during the period	965	151,662	152,627

At 1 January 2025	965	151,662	152,627
Shares issued during the period	35	6,438	6,473
At 31 December 2025	1,000	158,100	159,100

The notes on pages 6 to 18 form part of these financial statements.

Page 5


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

1.	General information

EAS Technologies Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£) which is the functional currency of the company.

These financial statements are rounded to the nearest £1.

The current period represents a 12 month period ended 31 December 2025. The prior period represents the
period from 12 February 2024, being the date of incorporation, to 31 December 2024.

The prior year also includes the acquisition of a subsidiary company made on 11 April 2024.

Therefore, the current and prior period are not entirely comparable.

2.Accounting policies

2.1

Basis of preparation of financial statements

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.

Page 6


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.3

Going concern

These financial statements have been prepared on the going concern basis. The directors have reviewed the Group’s going concern position, taking account of the Group’s net liability position of £9.3m, whilst considering the year-end positive cash position of £654,904. The directors have considered the performance against budget and taken into account other factors likely to affect its future development, objectives, policies and processes for managing its working capital, its financial risk management objectives and its exposure to credit and liquidity risks. This includes financial and cash flow forecasts, and sales pipeline.

Subsequent to the year end, the Group completed a further investment round with Gresham House, raising approximately £4.5m of additional funding comprising £3.2m of A-1 Loan Stock and approximately £1.3m of new equity funding, which has been received in cash. The terms of the existing loan stock arrangements were also amended, including the deferral of cash interest payments on the A and B Loan Stock and revised principal repayment terms. These revised funding arrangements have been taken into account by the directors in assessing the Group’s future cash flows and its ability to meet its liabilities as they fall due.

The directors intend that the Group will continue to pursue its strategy and focus its operational plans on the importance of achieving sustained positive cash flow generation.

Based upon the above, the directors have a reasonable expectation that the Group has the ability to continue in operation and meet its liabilities as they fall due for the foreseeable future being at least 12 months from the date of signing of these financial statements and considers it appropriate to adopt a going concern basis of preparation.

2.4

Operating leases: the Group as lessee

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

2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

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

Page 7


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

2.10

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 8


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

				Development expenditure	-	7	years
				Goodwill	-	5	years

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvement	-	20%
Office equipment	-	33%
Computer equipment	-	33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 9


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.18

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Page 10


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the Group's accounting policies, the directors are required to make judgements, estimates and assumption about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affects both current and future periods.

Critical estimates and judgements

Impairment review of consolidated goodwill:
At each period end, management reviews the forecast performance of the Group to assess whether any indicators of impairment exist in relation to the goodwill disclosed in Note 7. Based on the latest forecasts and performance analysis, management has concluded that no impairment of goodwill is required at this time.

	Fees payable to the Company's auditor for the audit of the consolidated and parent Company's financial statements	32,500	28,700
	Fees payable to the Company's auditor for the provision of non-audit services	14,200	23,550

Employees

The average monthly number of employees, including directors, during the period was 39 (2024 -35).

Directors' emoluments	623,117	442,696
Group contributions to defined contribution pension schemes	15,918	2,908
	639,035	445,604

Page 11


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

7.	Intangible assets
	Group

	Computer software	Goodwill	Total
	£	£	£
Cost
At 1 January 2025	542,737	13,951,210	14,493,947
Additions	-	21,393	21,393
At 31 December 2025	542,737	13,972,603	14,515,340
Amortisation
At 1 January 2025	508,861	2,018,148	2,527,009
Charge for the period on owned assets	33,876	2,797,615	2,831,491
At 31 December 2025	542,737	4,815,763	5,358,500
Net book value
At 31 December 2025	-	9,156,840	9,156,840
At 31 December 2024	33,876	11,933,062	11,966,938

Page 12


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

8.	Tangible fixed assets
	Group

	Long-term leasehold property	Office equipment	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2025	62,434	10,445	106,437	179,316
Additions	-	-	31,392	31,392
Exchange adjustments	-	-	(701)	(701)
At 31 December 2025	62,434	10,445	137,128	210,007
Depreciation
At 1 January 2025	15,720	2,658	61,052	79,430
Charge for the period on owned assets	15,783	3,481	25,404	44,668
Exchange adjustments	-	-	(279)	(279)
At 31 December 2025	31,503	6,139	86,177	123,819
Net book value
At 31 December 2025	30,931	4,306	50,951	86,188
At 31 December 2024	46,714	7,787	45,385	99,886

9.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2025	1
	At 31 December 2025	1

Page 13


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

EAS Technologies Bidco Limited	Unit 1 Walton Lodge, 374 Coldharbour Lane, London, United Kingdom, SW9 8PL	Ordinary	100%
EAS Technologies Limited	Unit 1 Walton Lodge, 374 Coldharbour Lane, London, United Kingdom, SW9 8PL	Ordinary	100%
Accredit Solutions Inc	324 Blackwell Street Suiite 900, PMB 152 Hurham NC 27701	Ordinary	100%
Accredit Solutions Pty	Suite 101, Level 1, 441 Docklands Drive, Docklands VIC 3006, Australia	Ordinary	100%
Accredit Solutions Brasil LTDA	Av. Alfredo Egídio de Souza Aranha, 100, São Paulo - SP, 04719-002, Brazil	Ordinary	100%
Accredit Solutions	3141 Anas Ibn Malik, 8292 Al Malqa District, 13521, Riyadh, Kingdom of Saudi Arabia	Ordinary	100%

The following are direct subsidiary undertakings of the Company:

EAS Technologies Bidco Limited (company number: 15578611)

The following are indirect subsidiary undertakings of the Company:

EAS Technologies Limited (company number: 10757752)
Accredit Solutions Inc (EIN: 61-194053)
Accredit Solutions Pty (ACN 680 760 472)
Accredit Solutions Brasil LTDA (Brazil)
Accredit Solutions (Saudi Arabia)

The following company is exempt from Audit under the provisions of s479a of the Companies Act 2006:

EAS Technologies Bidco Limited (company number: 15578611)

Page 14


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

Subsidiary undertakings (continued)

The aggregate of the share capital and reserves as at 31 December 2025 and the profit or loss for the period ended on that date for the subsidiary undertakings were as follows:
Name	Aggregate of share capital and reserves	Profit/(Loss)
	£	£

EAS Technologies Bidco Limited	(2,094,675)	(1,388,174)
EAS Technologies Limited	(1,795,199)	(1,669,218)
Accredit Solutions Inc	(219,568)	118,542
Accredit Solutions Pty	-	-
Accredit Solutions Brasil LTDA	-	-
Accredit Solutions	-	-

10.

Debtors

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	996,939	370,813	-	-
Amounts owed by group undertakings	-	-	159,099	152,626
Other debtors	95,267	64,057	-	-
Prepayments and accrued income	217,058	114,356	-	-
Tax recoverable	85,627	117,342	-	-
	1,394,891	666,568	159,099	152,626

11.	Creditors: Amounts falling due within one year
		Group	Group	Company
		2025	2024	2025
		£	£	£

Bank overdrafts	199	-	-
Trade creditors	119,918	153,255	-
Other taxation and social security	91,304	127,617	-
Other creditors	4,892	13,605	-
Accruals and deferred income	1,681,912	1,418,714	-
	1,898,225	1,713,191	-

Page 15


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

12.	Creditors: Amounts falling due after more than one year
		Group	Group	Company
		2025	2024	2025
		£	£	£

Management loan notes	7,039,615	6,702,090	-
Private equity loan notes	11,594,857	10,523,014	-
	18,634,472	17,225,104	-

The Management Loan Notes are unsecured and carry interest at 7% per annum, with interest accruing from the first anniversary of the issue date. The Private Equity Loan Notes carry interest at 10% per annum, with interest accruing from the date of issue. The A Loan Stock is secured and the C Loan Stock is unsecured. Interest is calculated on the basis of a 365-day year. Further details of the security are provided in note 15.

Interest in respect of both loans has been recognised in the profit and loss statement at £1,387,978 (2024: £706,441).

Under the arrangements in place at 31 December 2025, quarterly cash interest payments were scheduled to commence on 30 June 2026. Interest accrued prior to the commencement of these payments was rolled up and added to the respective loan stock balances. Subsequent to the year end, the terms of the existing A and B Loan Stock were amended, including changes to the timing of future interest and principal payments. Further details are provided in note 18.

13.	Provisions
	Group

		Dilapidations provision
		£

	At 1 January 2025	25,268
	Charged to profit or loss	1,989
	At 31 December 2025	27,257

Page 16


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

14.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

24,000 (2024 - 20,502) C Ordinary shares of £0.01 each	240	205
45,165 (2024 - 45,165) A Ordinary shares of £0.01 each	452	452
30,835 (2024 - 30,835) B Ordinary shares of £0.01 each	308	308

	1,000	965

During the period, the Company issued 3,498 ordinary shares of £0.01 each at a premium, for total consideration of £6,473.

15.	Charges and security

The Group has entered into a composite guarantee and debenture with Gresham House Private Equity Release ILP which creates comprehensive security over the company's assets as continuing security for all secured obligations. Under this arrangement, the charging companies provide joint and several guarantees for all amounts due, with each company guaranteeing not only its own obligations but also cross-guaranteeing the obligations of other charging companies within the group.

The debenture creates fixed charges over the company's computers, and equipment, group shares and investments, intellectual property rights, bank accounts, insurance policies and proceeds, business licences and authorisations, and goodwill and uncalled capital. Additionally, a floating charge is created over all other assets and undertaking not effectively subject to fixed charges, including all present and future assets wheresoever situated.

The agreement includes provisions allowing the charge to convert the floating charge into a fixed charge upon the occurrence of an event of default or where assets are considered to be in jeopardy. Automatic conversion also occurs if the company creates unauthorised encumbrances or if legal processes are levied against floating charge assets. The company has given a negative pledge undertaking not to create further encumbrances without consent (except permitted encumbrances) and not to dispose of charged assets outside the ordinary course of business.

Certain assets are excluded from the charges until third-party consents are obtained, specifically leasehold properties where lease terms prohibit charging and intellectual property rights subject to licensing agreements that restrict the creation of security. The company undertakes to seek the necessary consents and such assets will become subject to the charges upon receipt of appropriate third-party consent.

The security created is continuing and remains in full force until the charge certifies in writing that all secured obligations have been discharged in full. Any amounts not paid when due bear interest at the default rate from the due date until unconditional payment.

At the period end, total secured borrowings amounted to £11,573,157 (2024 - £10,523,014).

The composite guarantee and debenture is registered at Companies House under charge number 1548 3696 0001 dated 11th of April 2024.

16.	Pension commitments

The Group operates a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £Nil (2024 - £147) were payable to the fund at the reporting date and are included within creditors.

Page 17


EAS TECHNOLOGIES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

17.

Related party transactions

The Group has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any party to the transaction with wholly owned subsidiaries within the group or where transactions have been undertaken under normal market conditions.

18.	Post balance sheet events

Subsequent to the year end, the Group completed a further investment round with Gresham House, raising approximately £4.5m of additional funding, comprising £3.2m of A-1 Loan Stock and approximately £1.3m of new equity funding.

As part of the investment round, up to £750,000 of existing B Loan Stock can be converted into equity and the terms of the existing A and B Loan Stock were amended, including changes to the timing of future interest and principal payments. The existing C Loan Stock was also dealt with as part of the investment round.

19.	Controlling party

In the opinion of the directors there is no single ultimate controlling party.

20.	Auditor's information

The auditor's report on the financial statements for the period ended 31 December 2025 was unqualified.

The audit report was signed on 21 September 2026 by Andrew Galliers FCA (Senior statutory auditor) on behalf of Menzies LLP.

Page 18