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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

AppsAnywhere Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Foresters Arms, 35 Kirkgate, Sherburn in Elmet, Leeds, LS25 6BH.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Cordance Holdings LP, which is the smallest and largest group that includes this company in its consolidated financial statements. These consolidated financial statements are available from its registered office, 6 W. Martin Street, Raleigh, NC 27601.

The directors have prepared forecasts and cash flow projections for a period of at least twelve months from the date of approval of these financial statements. Based on this assessment, the directors have concluded that the Company is expected to continue to meet its liabilities as they fall due and that the use of the going concern basis of accounting remains appropriate.true

The Company is a wholly owned subsidiary within the Cordance group, based in the USA. The group continues to rely on its existing financing arrangements and may seek additional funding to support its operations and strategic growth objectives including acquisitions.

The Company participates in the Cordance group's financing arrangements, including providing guarantees in respect of certain group borrowings and granting security over certain of its assets in favour of the group's lenders.

The directors have considered the potential impact on the Company of the group's funding requirements and financing arrangements. In particular, if the group were unable to obtain sufficient funding when required, or if an event of default were to occur under the group's financing arrangements, the Company could be affected by the exercise of lender enforcement rights or actions taken as part of a wider group restructuring.

These events and conditions indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. Nevertheless, having considered the Company's forecasts and cash flow projections together with the circumstances described above, the directors consider that the going concern basis of accounting remains appropriate.

The financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern.

Revenue represents the transaction price that the Company expects to be entitled to in exchange for goods and services supplied in the ordinary course of business, net of discounts and taxes.

The Company applies the five-step model to identify contracts with customers and the separate performance obligations within those contracts, determine and allocate the transaction price to each performance obligation, and recognise revenue when or as each performance obligation is satisfied.

With regards to the material streams of turnover for the business:

Fees for installation of on-premise software

Fees for the installation of the software at the customer’s premises are recognised as revenue in full on completion of the installation because during installation the stage of completion cannot be estimated reliably.

On-premises licensed software

Revenue from on-premises software licence arrangements is recognised over the licence period. The Company provides ongoing maintenance, support and updates throughout the licence period and the related performance obligation is therefore satisfied over time. Revenue is recognised on a straight-line basis over the licence period, unless another method more faithfully represents the pattern in which the performance obligation is satisfied. Revenue is deferred in full at the inception of the contract and then recognised over time. There are costs of hosting and other directly associated costs which are prepaid and recognised over the life of the contract in the same manner.

Sale of packaging credits

Revenue from packaging credits is recognised as the related application packaging services are performed and the credits are consumed. Amounts received for unused credits are recognised as contract liabilities until the related services are provided or the credits expire, at which point any remaining amount is recognised as revenue where the Company has no remaining obligation to the customer.

Sale of cloud based licensed software

Revenue from cloud-based software arrangements is recognised over the licence period as the related services are provided to the customer. Revenue is recognised on a straight-line basis over the licence period, unless another method more faithfully represents the pattern in which the performance obligation is satisfied. Revenue is deferred in full at the inception of the contract and then recognised over time. There are costs of hosting and other directly associated costs which are prepaid and recognised over the life of the contract in the same manner.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company 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, which include debtors, amounts due from fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, loans from fellow group companies, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Monte-Carlo model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity through other reserves.

At inception, the company assesses whether a contract is, or contains, a lease. A lease arises where the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control of the use of an asset occurs where the company has both the right to direct the use of the asset, and the right to obtain substantially all the economic benefits from that use.

Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within the same line items on the Balance sheet as owned assets.

The right-of-use asset is initially measured at cost, which comprises the initial measurement of the lease liability adjusted for lease payments made at or before the commencement date less any lease incentives or grants received, plus initial direct costs and an estimate of the cost of obligations to dismantle, remove or restore the underlying asset and the site on which it is located.

The right-of-use asset is subsequently adjusted for remeasurements of the lease liability and applies the relevant cost model, fair value model or revaluation model as set out within the accounting policies for the applicable asset class. Where the cost model is applied, the asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term, and is periodically reduced by impairment losses, if any.

The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the company's incremental borrowing rate or the company’s obtainable borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be payable under residual value guarantees, the exercise price of any purchase options that the company is reasonably certain to exercise, and any penalties for early termination of a lease.

At each financial period end, the lease liability is adjusted to reflect payments made and interest accrued. Also, the lease liability is remeasured to reflect lease modifications and any changes to the factors considered at initial measurement, as set out above. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or recognised in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.

In the comparative period, the company classified leases as finance leases whenever the terms of the lease transferred substantially all the risks and rewards of ownership to the lessees. All other leases were classified as operating leases. Assets held under finance leases were recognised as assets at the lower of the assets' fair value at the date of inception and the present value of the minimum lease payments. The related liability was included in the balance sheet as a finance lease obligation. Lease payments were treated as consisting of capital and interest elements and the interest was charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability. Rentals payable under operating leases, less any lease incentives received, were charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis was more representative of the time pattern in which economic benefits from the leased asset were consumed.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Development expenditure

Development expenditure relating to the Company's software platform is expensed as incurred and is not capitalised. The directors have adopted this policy on the basis that the recognition criteria for capitalisation of development costs have not been demonstrated to be met. Accordingly, all costs associated with the development and enhancement of the platform, including employee costs and third-party contractor costs, are recognised within administrative expenses in the period to which they relate.

In the current year, the FRS 102 Periodic Review 2024 was applied by the company for the first time and affects the financial statements as follows.

The company has applied the FRS 102 Periodic Review 2024 amendments to Section 20 Leases as an adjustment to the opening balance of retained earnings at the date of initial application. Comparative information is not restated.

The company’s revised accounting policies for leases are set out in note 1 and the adjustment for each financial statement line item affected by the application of the Periodic Review 2024 in the current period is set out below.

The company has applied the FRS 102 Periodic Review 2024 amendments to Section 23 Revenue as an adjustment to the opening balance of retained earnings at the date of initial application. Comparative information is not restated.

The company’s revised accounting policies for revenue are set out in note 1 and the adjustment for each financial statement line item affected by the application of the Periodic Review 2024 is set out below.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions 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 estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The Group operates an Enterprise Management Incentive ("EMI") share option scheme. Determining the fair value of options granted under the scheme requires the exercise of significant judgement and the use of estimation techniques, including the determination of the underlying share value at the grant date and the consideration of relevant facts and circumstances affecting that valuation.

Management engaged an independent specialist valuation adviser, to perform a valuation of the EMI scheme and the associated share-based payment charge recognised in accordance with Section 26 of FRS 102. The valuation incorporates a range of assumptions and estimates, including information relating to the Company's trading performance, financial position and wider market conditions.

In preparing its valuation, the independent adviser considered information that became available after the grant date of the share options. Management concluded that the inclusion of such information provides additional evidence regarding conditions existing at the grant date and results in a valuation that is more representative of the economic substance of the transaction and provides a more reliable estimate of fair value for financial reporting purposes.

Accordingly, the directors exercised judgement in determining that the independent valuation provides the most appropriate basis for measuring the share-based payment expense recognised in the financial statements. Different assumptions or valuation methodologies could result in a materially different fair value and corresponding charge recognised in the Statement of Comprehensive Income.

The Company has recognised a deferred tax asset of £529,388 in respect of unrelieved tax losses and other deductible timing differences. The recognition of this asset requires the Directors to exercise judgement in assessing whether sufficient future taxable profits will be available against which the underlying tax losses and timing differences can be utilised.

In making this assessment, the Directors have considered the Company’s current trading performance, approved budgets and forecasts, expected future profitability and the anticipated timing of the utilisation of the available tax losses and other tax deductions.

Based on these factors, the Directors consider it probable that the Company will continue to generate sufficient taxable profits over the coming years to enable the recognised deferred tax asset to be recovered. Accordingly, the Directors consider that recognition of the deferred tax asset at the reporting date is appropriate.

The recoverability of the deferred tax asset will continue to be reviewed at each reporting date, taking into account the Company’s actual trading performance and updated expectations regarding future taxable profits.

The average monthly number of persons (including directors) employed by the company during the year was:

Following the acquisition of the company by the Cordance group in November 2025, the company became part of the group's financing arrangements. On 28 November 2025, the company entered into a debenture in favour of Sixth Street Specialty Lending, Inc., acting as security trustee for the group's lenders. The debenture grants fixed charges over the company's bank accounts and intercompany receivables together with a floating charge over substantially all of the company's assets and undertaking. The company also became a guarantor in respect of the wider group financing facilities.                        

In addition, on 11 December 2025 the company granted a fixed charge in favour of Clydesdale Bank PLC (trading as Virgin Money) over a cash deposit account held with the bank.                        

The directors do not expect any loss to arise from these arrangements and no provision has therefore been recognised in respect of the guarantees provided.

Right-of-use assets represent the Company’s interests in leased properties and vehicles. The remaining lease terms are between 1 and 4 years at year end. There are no extension or termination options included within these arrangements. Lease liabilities are discounted using either the rate implicit in the lease agreement or an incremental borrowing rate, these range from between 8-10%.

The company have two types of Ordinary shares which have attached to them full voting, dividend and capital distribution rights. They do not confer any rights of redemption.

The capital redemption reserve represents the value of the Company's own shares which have been repurchased.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor’s report included a material uncertainty related to going concern drawing attention to note 1.2 in the financial statements which explains the Company’s exposure to the Cordance group’s financing arrangements and future funding requirements. The auditor’s opinion was not modified in respect of this matter.

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

In the current year, operating leases were reallocated to the balance sheet and presented as right of use assets and lease liabilities, following an early adoption of the FRS 102 Periodic Review 2024.

The Company is a wholly owned subsidiary of Cordance Software Inc. and as such has taken advantage of the exemption permitted by Section 33 'Related Party Disclosures' not to provide disclosures of transactions entered into with the parent company or other wholly owned subsidiaries within the group.

The immediate parent undertaking is Cordance Software Inc., a private limited company incorporated in Delaware. The ultimate controlling party is Aquiline Capital Partners.