REGISTERED NUMBER: 07923312 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026

FOR

EFAG LIMITED

Page

Company Information

1

Report of the Directors

2

Statement of Income and Retained Earnings

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

G Addessi

A Orru

REGISTERED OFFICE:

38 Craven Street

London

WC2N 5NG

REGISTERED NUMBER:

07923312 (England and Wales)

ACCOUNTANTS:

B&P Tax Legal Finance LLP

38 Craven Street

London

WC2N 5NG

The directors present their report with the financial statements of the company for the year ended 31 January 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of business consultancy services.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2025 to the date of this report.

G Addessi

A Orru

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

G Addessi - Director

23 October 2026

TURNOVER

205,957

202,844

Administrative expenses

(129,843

)

(220,599

)

76,114

(17,755

)

Other operating income

-

577

OPERATING PROFIT/(LOSS)

4

76,114

(17,178

)

Income from shares in group undertakings

124,805

103,397

200,919

86,219

Amounts written off investments

(18,064

)

-

PROFIT BEFORE TAXATION

182,855

86,219

Tax on profit

(24,997

)

(251

)

PROFIT FOR THE FINANCIAL YEAR

157,858

85,968

Retained earnings at beginning of year

422,293

382,558

Dividends

5

(72,035

)

(46,233

)

RETAINED EARNINGS AT END OF YEAR

508,116

422,293

FIXED ASSETS

Tangible assets

6

2,117

3,705

Investments

7

45,548

63,612

47,665

67,317

CURRENT ASSETS

Debtors

8

101,884

72,707

Cash at bank and in hand

404,906

286,333

506,790

359,040

CREDITORS

Amounts falling due within one year

9

(46,239

)

(3,964

)

NET CURRENT ASSETS

460,551

355,076

TOTAL ASSETS LESS CURRENT LIABILITIES

508,216

422,393

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

508,116

422,293

SHAREHOLDERS' FUNDS

508,216

422,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2026 and were signed on its behalf by:

G Addessi - Director

1.	STATUTORY INFORMATION

EFAG 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.

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.

Turnover

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

Revenues from rendering of services are recognized when it is probable that an economic benefit associated with the transaction will flow to the entity and the amount of revenue can be measured reliably.

Tangible fixed assets

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

Computer equipment: 33.33% SL basis

Investments in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Financial instruments

Financial assets

The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, cash and bank balances.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade, other receivable and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss.

Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred.

Financial liabilities

The company's financial liabilities comprise of basic financial liabilities, including trade and other payables. These are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

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

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	OPERATING PROFIT/(LOSS)

The operating profit (2025 - operating loss) is stated after charging:

2026

2025

£

£

Depreciation - owned assets

1,588

2,059

5.

DIVIDENDS

2026

2025

£

£

Ordinary shares of 1 each

Final

72,035

46,233

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2025

and 31 January 2026

14,772

DEPRECIATION

At 1 February 2025

11,067

Charge for year

1,588

At 31 January 2026

12,655

NET BOOK VALUE

At 31 January 2026

2,117

At 31 January 2025

3,705

7.	FIXED ASSET INVESTMENTS

2026

2025

£

£

Shares in group undertakings

6,811

6,811

Other investments not loans

38,737

38,737

Other loans

-

18,064

45,548

63,612

Additional information is as follows:

Shares in

group

Unlisted

undertakings

investments

Totals

£

£

£

COST

At 1 February 2025

and 31 January 2026

6,811

38,737

45,548

NET BOOK VALUE

At 31 January 2026

6,811

38,737

45,548

At 31 January 2025

6,811

38,737

45,548

Other

loans

£

At 1 February 2025

18,064

Other movement

(18,064

)

At 31 January 2026

-

The investment in unsecured convertible loan in Mocha Technology Holdings Limited has been fully impaired by £18,064 (2025: £nil).

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Amounts owed by group undertakings

101,813

64,100

Other debtors

-

8,007

VAT

71

600

101,884

72,707

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

17,315

-

Tax

24,997

251

Other creditors

393

214

Accrued expenses

3,534

3,499

46,239

3,964

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

100

Ordinary

1

100

100

11.

RESERVES

Retained

earnings

£

At 1 February 2025

422,293

Profit for the year

157,858

Dividends

(72,035

)

At 31 January 2026

508,116

12.	RELATED PARTY DISCLOSURES

At the end of the reporting period the company was owed £101,813.16 (2025: £64,100) from EFG ITALIA Srl, a subsidiary undertaking registered in Italy. The amount represents the outstanding balance from trading transactions.

During the reporting year the company supplied consultancy services to EFG Italia srl for £205,957 (2025: £202,844) and received dividend income of £124,805 (2025: £103,397).

At the end of the reporting year a loan due from a company under common control has been impaired by £8,007 (2025: £nil).

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Addessi.