Statement of changes in equity

The revenue reserve represents the amount of the Company's reserves distributable by way of dividend.

Cash flow statement

The accompanying notes are an integral part of the financial statements.

Notes

1. Interim Results

These condensed financial statements have been prepared in accordance with International Financial Reporting Standards ('IFRS') and IAS 34 'Interim Financial Reporting' as adopted in the UK. They follow the same accounting policies as those set out in the audited statutory accounts of the Company for the year ended 31 December 2022. The condensed financial statements do not contain all of the information required for a full set of IFRS financial statements and should be read in conjunction with the Company's financial statements for the year ended 31 December 2022. There have been no significant changes to management judgements or estimates during the period.

2. Going Concern Basis of Accounting

At the time of approving these financial statements, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. In August 2025 the Company successfully raised £250,000 (before expenses) via the issue of zero coupon unsecured convertible loan notes to support its working capital requirements while it pursues the proposed reverse takeover. Accordingly, the Directors continue to adopt the going concern basis of accounting in preparing these financial statements.

3. Prior Year Adjustment

During the period, the Company identified administrative expenses of £70,000 recorded in FY23 but relating to FY22. The comparatives presented for the prior period have been adjusted to reflect this correction. This adjustment has no impact on cash or cash equivalents.

4. Return per Ordinary Share

The revenue loss per ordinary share for the twelve months ended 31 December 2023 is based on a net loss after taxation of £44,000 and a weighted average of 17,343,091 ordinary shares in issue during the period. The capital return per ordinary share for the twelve months ended 31 December 2023 is based on a net capital profit after taxation of £nil and the same weighted average number of ordinary shares.

5. Net Asset Value per Ordinary Share

The net asset value per ordinary share is based on net liabilities of £549,000 (31 December 2022: £580,000 restated) and on 18,198,295 ordinary shares in issue at the period end (31 December 2022: 15,196,857).

6. Related Party Transactions

The Board of Directors is considered a related party of the Company. Directors receive fees for their services. Total directors' fees for the twelve months to 31 December 2023 were £nil (twelve months ended 31 December 2022: £10,000). As at 31 December 2023, amounts payable to directors totalled £10,000 (31 December 2022: £10,000). There were no other related party transactions during the period that had a material effect on the financial position or performance of the Company.

7. Post Balance Sheet Events

The following material events occurred after the reporting date:

·      20 March 2024: Temporary suspension of listing of the Company's shares.

·      26 April 2024: The Company's accounting reference date was extended to 31 March 2024.

·      28 January 2025: 6,524,880 new ordinary shares of 0.1p each issued at 1.25p per share.

·      14 August 2025: The Company raised £250,000 (before expenses) via the issue of zero coupon unsecured convertible loan notes.

·      14 August 2025: The Company signed non-binding heads of terms to acquire Nabirm Global LLC via a proposed reverse takeover.

·      20 August 2025: Royce Peeling Green Limited ("RPG") were appointed as auditors, following the resignation of PKF Littlejohn LLP (registered on Companies House on 1 September 2025). Their appointment is subject to shareholder approval at the forthcoming Annual General Meeting.

Interim Report Statement

This Interim Report has not been audited or reviewed in accordance with the Auditing Practices Board guidance on 'Review of Interim Financial Information'. These condensed financial statements do not constitute statutory accounts as defined in Section 434 of the Companies Act 2006 and are unaudited.

Statutory accounts for the year ended 31 December 2022, which were prepared in accordance with UK-adopted international accounting standards, received an unqualified audit report and did not contain a statement under Section 498 of the Companies Act 2006. These accounts have been filed with the Registrar of Companies. No statutory accounts in respect of any period after 31 December 2022 have been reported on by the Company's auditor or delivered to the Registrar of Companies.

Directors' Statement of Principal Risks and Uncertainties

The risks, and the way in which they are managed, are described in more detail in the Strategic Report contained within the Annual Report and Financial Statements for the year ended 31 December 2022. In the opinion of the Directors, the Company's principal risks and uncertainties did not change materially since the date of that report for the remainder of the Company's financial reporting period to 31 December 2023.

Statement of Directors' Responsibilities in Respect of the Interim Report

We confirm that to the best of our knowledge:

·      the condensed set of financial statements has been prepared in accordance with IAS 34 'Interim Financial Reporting' as adopted in the UK and gives a true and fair view of the assets, liabilities, financial position and loss of the Company;

·      the Chairman's Statement and Executive Director's Review (together constituting the Interim Management Report) include a fair review of the information required by the Disclosure Guidance and Transparency Rules ('DTR') 4.2.7R and 4.2.8R, being an indication of important events that have occurred during the twelve-month period and their impact on the financial statements; and

·      other than directors' remuneration as disclosed in Note 5, there have been no related party transactions that materially affected the financial position or performance of the Company during the period.

On behalf of the Board

Richard Lockwood

Chairman