REGISTERED NUMBER: 11705811 (England and Wales)

Strategic Report, Directors' Report and

Financial Statements for the Year Ended 30 September 2025

for

Finixio Ltd

Page

Company Information

1

Strategic Report

2

Directors' Report

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Statement of Cash Flows

12

Notes to the Statement of Cash Flows

13

Notes to the Financial Statements

14

DIRECTORS:

Mr. T T Dhanjal

Mr. A R Grunwerg

Mr. S B Miranda

REGISTERED OFFICE:

Tower 42 25 Old Broad Street

London

EC2N 1HN

REGISTERED NUMBER:

11705811 (England and Wales)

AUDITORS:

Andrew Murray & Co

Business Advisors and Statutory Auditors

144-146 Kings Cross Road

King's Cross

WC1X 9DU

The directors present their strategic report for the year ended 30 September 2025.

REVIEW OF THE BUSINESS

In line with the wider group restructuring strategy, the Company substantially ceased its trading activities with effect from 31 December 2024. Going forward, the Company is expected to be wound up as there are no further plans for the company.

ON BEHALF OF THE BOARD:

Mr. T T Dhanjal - Director

18 September 2026

The directors present their report with the financial statements of the company for the year ended 30 September 2025.

CESSATION OF TRADING

The company ceased trading on 31 December 2024, and the profit and loss accounts shows the result of trading to this date.

As a result, the company is no longer considered a going concern and the financial statements have been prepared on a basis other than going concern.

The directors have reviewed the carrying value of assets and liabilities and adjusted them where necessary to reflect expected realisable values.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of

DIVIDENDS

No interim dividend was paid during the year. However, the directors recommend a dividend of £12,000,000 by utilising its revenue reserves.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2024 to the date of this report.

Mr. T T Dhanjal

Mr. A R Grunwerg

Mr. S B Miranda

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Strategic Report, 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements 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's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr. T T Dhanjal - Director

18 September 2026

Opinion

We have audited the financial statements of Finixio Ltd (the 'company') for the year ended 30 September 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its loss 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical

requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard,and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate.

Emphasis of matter (basis of preparation)

We draw attention to Note 02 to the financial statements which explains that the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 02.Our opinion is not modified in respect of this matter.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of

accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic

alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material

misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable

assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We understood how the Company is complying with those legal and regulatory frameworks by making inquiries to management and those responsible for legal and compliance procedures. We corroborated our inquiries through our review of relevant documentation.

The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. No issues were identified in this area. We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; and

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

- Posting of unusual journals and complex transactions; or

- The use of management override of controls to manipulate results, or to cause the Company to enter into transactions not in its best interests.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Naren Desai FCA, MBA (Senior Statutory Auditor)

for and on behalf of Andrew Murray & Co

Business Advisors and Statutory Auditors

144-146 Kings Cross Road

King's Cross

WC1X 9DU

18 September 2026

TURNOVER

1,972,275

40,018,524

Cost of sales

2,595,094

37,467,951

GROSS (LOSS)/PROFIT

(622,819

)

2,550,573

Administrative expenses

818,260

5,906,298

(1,441,079

)

(3,355,725

)

Other operating income

-

290,876

OPERATING LOSS

4

(1,441,079

)

(3,064,849

)

Interest payable and similar expenses

6

292,148

87,378

LOSS BEFORE TAXATION

(1,733,227

)

(3,152,227

)

Tax on loss

7

-

-

LOSS FOR THE FINANCIAL YEAR

(1,733,227

)

(3,152,227

)

LOSS FOR THE YEAR

(1,733,227

)

(3,152,227

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(1,733,227

)

(3,152,227

)

FIXED ASSETS

Intangible assets

9

-

385,618

CURRENT ASSETS

Debtors

10

12,003,602

19,665,321

Cash and cash equivalents

771,582

502,626

12,775,184

20,167,947

CREDITORS

Amounts falling due within one year

11

12,325,583

6,370,569

NET CURRENT ASSETS

449,601

13,797,378

TOTAL ASSETS LESS CURRENT LIABILITIES

449,601

14,182,996

CAPITAL AND RESERVES

Called up share capital

12

2,072

2,240

Retained earnings

13

447,529

14,180,756

SHAREHOLDER FUNDS

449,601

14,182,996

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2026 and were signed on its behalf by:

Mr. T T Dhanjal - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 October 2023

2,240

17,332,983

17,335,223

Changes in equity

Total comprehensive income

-

(3,152,227

)

(3,152,227

)

Balance at 30 September 2024

2,240

14,180,756

14,182,996

Changes in equity

Issue of share capital

(168

)

-

(168

)

Dividends

-

(12,000,000

)

(12,000,000

)

Total comprehensive income

-

(1,733,227

)

(1,733,227

)

Balance at 30 September 2025

2,072

447,529

449,601

Cash flows from operating activities

Cash generated from operations

1

209,055

(4,255,854

)

Interest paid

(292,148

)

(87,378

)

Net cash from operating activities

(83,093

)

(4,343,232

)

Cash flows from investing activities

Purchase of intangible fixed assets

-

(34,288,842

)

Sale of intangible fixed assets

-

37,921,473

Sale of tangible fixed assets

-

(120,907

)

Loss on revaluation of assets

(18,207

)

-

Reclassified as current assets

370,424

-

Net cash from investing activities

352,217

3,511,724

Cash flows from financing activities

Share issue

(168

)

-

Net cash from financing activities

(168

)

-

Increase/(decrease) in cash and cash equivalents

268,956

(831,508

)

Cash and cash equivalents at beginning of year

2

502,626

1,334,134

Cash and cash equivalents at end of year

2

771,582

502,626

1.	RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.9.25

30.9.24

£

£

Loss before taxation

(1,733,227

)

(3,152,227

)

Depreciation charges

-

1,884,966

Loss on disposal of fixed assets

-

171,307

Loss on revaluation of fixed assets

33,401

-

Finance costs

292,148

87,378

(1,407,678

)

(1,008,576

)

Decrease/(increase) in trade and other debtors

7,661,719

(2,387,870

)

Decrease in trade and other creditors

(6,044,986

)

(859,408

)

Cash generated from operations

209,055

(4,255,854

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 September 2025

30.9.25

1.10.24

£

£

Cash and cash equivalents

771,582

502,626

Year ended 30 September 2024

30.9.24

1.10.23

£

£

Cash and cash equivalents

502,626

1,334,134

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.24

Cash flow

At 30.9.25

£

£

£

Net cash

Cash and cash equivalents

502,626

268,956

771,582

502,626

268,956

771,582

Total

502,626

268,956

771,582

1.	STATUTORY INFORMATION

Finixio Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparation financial statements

The financial statements have been prepared in accordance with Financial Reporting Standard 102 and the Companies Act 2006.

The directors have determined that it is not appropriate to prepare the financial statements on a going concern basis as the company was ceased trading with effect from 31 December 2024.

Accordingly, the financial statements have been prepared on a basis other than going concern.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences have been fully amortised in the current year.

Crypto Assets are being amortised evenly over their estimated useful life of nil years.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was consistent with the operational requirements of the business. All employees were terminated on 31 December 2024 as part of a group restructuring programme. Accordingly, the company had no employees at the reporting date of 30 September 2025.

30.9.25

30.9.24

£

£

Directors' remuneration

12,500

356,285

4.	OPERATING LOSS

The operating loss is stated after charging:

30.9.25

30.9.24

£

£

Other operating leases

1,418

21,867

Loss on disposal of fixed assets

-

120,907

Patents and licences amortisation

-

1,884,967

Foreign exchange differences

-

266,536

5.	AUDITORS' REMUNERATION

30.9.25

30.9.24

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

15,500

62,500

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

30.9.25

30.9.24

£

£

Interest payable

292,148

87,378

7.

TAXATION

No liability to UK corporation tax arose for the year ended 30 September 2025 nor for the year ended 30 September 2024. In view of the losses incurred before, ceasing to trade the company may be entitled to a terminal loss claim, which will be dealt with before winding up the company.

8.

DIVIDENDS

30.9.25

30.9.24

£

£

Share capital shares of 2072 each

Final

12,000,000

-

9.	INTANGIBLE FIXED ASSETS

Crypto

Assets

£

COST

At 1 October 2024

385,618

Reclassification/transfer

(385,618

)

At 30 September 2025

-

NET BOOK VALUE

At 30 September 2025

-

At 30 September 2024

385,618

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Trade debtors

-

4,124,462

Other debtors

12,003,602

15,540,859

12,003,602

19,665,321

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Trade creditors

2,445

42,530

Social security and other taxes

-

205,916

Proposed dividends

12,000,000

-

Other creditors

307,638

5,529,294

Accruals and deferred income

15,500

592,829

12,325,583

6,370,569

12.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

30.9.25

30.9.24

value:

£

£

2,072

Share capital 1

2072

2,072

2,240

13.

RESERVES

Retained

earnings

£

At 1 October 2024

14,180,756

Deficit for the year

(1,733,227

)

Dividends

(12,000,000

)

At 30 September 2025

447,529

14.	POST BALANCE SHEET EVENTS

Nothing has come to the director's attention that requires adjustment to or disclosure in these financial statements for the year ended 30 September 2025.

15.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of Finixio Limited are Mr. A R Grunwerg through ARG Media Limited and Mr. S B Miranda through SBM Holding Group Limited respectively.