REGISTERED NUMBER: 06940022 (England and Wales)

Unaudited Financial Statements

for the Period 1 July 2024 to 31 December 2025

for

Swellaway Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

270,450

276,086

Tangible assets

5

-

-

270,450

276,086

CURRENT ASSETS

Stocks

135,837

148,803

Debtors

6

6,018

42,173

Cash at bank

148

943

142,003

191,919

CREDITORS

Amounts falling due within one year

7

3,257,120

2,761,572

NET CURRENT LIABILITIES

(3,115,117

)

(2,569,653

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,844,667

)

(2,293,567

)

CAPITAL AND RESERVES

Called up share capital

992

991

Share premium

2,345,044

2,345,044

Capital redemption reserve

3

3

Retained earnings

(5,190,706

)

(4,639,605

)

SHAREHOLDERS' FUNDS

(2,844,667

)

(2,293,567

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2026 and were signed on its behalf by:

Ms O Greenhalgh - Director

1.	STATUTORY INFORMATION

Swellaway Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06940022

Registered office:

Great Oak Farm Offices

Mag Lane

Lymm

Cheshire

WA13 0TF

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the deficit in net assets. The main creditors of the company whom are owed £2,675,731 (2024: £2,117,834) are prepared to continue to support the development of the company for the next year.

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 fixed assets

Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life of five years.

Product development - 20% on cost

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

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 period was 1 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Product

development

£

COST

At 1 July 2024

2,940,941

Additions

189,990

At 31 December 2025

3,130,931

AMORTISATION

At 1 July 2024

2,664,855

Amortisation for period

195,626

At 31 December 2025

2,860,481

NET BOOK VALUE

At 31 December 2025

270,450

At 30 June 2024

276,086

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2024

and 31 December 2025

1,421

1,611

3,032

DEPRECIATION

At 1 July 2024

and 31 December 2025

1,421

1,611

3,032

NET BOOK VALUE

At 31 December 2025

-

-

-

At 30 June 2024

-

-

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

388

Other debtors

6,018

41,785

6,018

42,173

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

145,985

227,411

Taxation and social security

93

8,590

Other creditors

3,111,042

2,525,571

3,257,120

2,761,572

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Other loans

1,244,926

1,214,127

There is a fixed charge over patents and a fixed and floating charge over all of the assets.

9.	POST BALANCE SHEET EVENTS

After the year end the business and assets of the company were purchased by a US company for £2.5 million and 25% of the equity of the acquirer.