Final Results for the year ended 31 May 2026

Summary by AI ^BETAClose X

Falconedge reported FY2026 revenue of £151,197 and a loss before tax of £907,841 (basic loss per share 0.13p), driven by significant one‑off IPO/listing and acquisition costs and an operating loss of £691,648; cash at year‑end was £7,846 with net assets of £1,360,895 and net current assets of £242,233 after fundraising and a £1,000,000 convertible loan conversion. The Company holds 21.2338 BTC (including fund holdings) and its Bitcoin Yield Strategy has produced positive yields every month since December 2025, averaging 1.22% per month (compounded 10.16%), adding c.1.9588 BTC (fiat gain £91,185); management plans to scale the Bitcoin treasury and recurring referral revenues.

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Companies

Falconedge Plc (EDGE)

UK 100

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		Year ended		Period ended
		31 May		31 May
		2026		2025
	Notes	£		£

Revenue	2	151,197		-
Cost of sales			(114,064)	-



Gross profit		37,133		-

Administrative expenses			(728,781)		(488)



Operating loss	3		(691,648)		(488)

Investment revenues	6	7,994		651
Other gains and losses	7		(224,187)	-



(Loss)/profit before taxation			(907,841)	163

Income tax expense	8	-		-



(Loss)/profit and total comprehensive income for the year			(907,841)	163



		Year		Period
		ended		ended
		31 May		31 May
		2026		2025
	Notes	Pence		Pence

Earnings per share	9
Basic			(0.13)	1.09
Diluted			(0.13)	1.09

Earnings per share from continuing operations
Basic			(0.13)	1.09
Diluted			(0.13)	1.09

Earnings per share from discontinued operations

		2026		2025
	Notes	£		£

Non-current assets
Intangible assets	10	20,727		-
Investments	11	1,097,935		-



		1,118,662		-



Current assets
Investments	11	234,501		-
Trade and other receivables	12	49,181		111,289
Cash and cash equivalents		7,846		204



		291,528		111,493



Current liabilities
Trade and other payables	14	49,295		111,329



Net current assets		242,233		164



Net assets		1,360,895		164



Equity
Called-up share capital	17	67,710		1
Share premium account	18	1,974,611		-
Warrant equity reserve	19	141,998		-
Share option reserve	20	84,254		-
Retained earnings			(907,678)	163



Total equity		1,360,895		164



These financial statements have been prepared in accordance with UK-adopted international accounting standards and the requirements of the Companies Act 2006.

The financial statements were approved by the board of directors and authorised for issue on 11 November 2026 and are signed on its behalf by:


R Kashi
Director

Company registration number 15713290 (England and Wales)

		Share capital	Share premium account		Equity reserve			Warrant equity reserve			Share option reserve		Retained earnings			Total
	Notes	£	£		£			£			£		£			£

Balance at 10 May 2024		-	-		-			-			-		-			-

Period ended 31 May 2025:
Profit and total comprehensive income		-	-		-			-			-		163			163
Transactions with owners:
Issue of share capital	17	1	-		-			-			-		-			1



Balance at 31 May 2025		1	-		-			-			-		163			164



Year ended 31 May 2026:
Loss and total comprehensive income		-	-		-			-			-			(907,841)			(907,841)
Transactions with owners:
Issue of share capital	17	67,709	2,116,609		-			-			-		-			2,184,318
Issue of convertible loan		-	-		1,000,000			-			-		-			1,000,000
Conversion of loan	17	-	-			(1,000,000)			-		-		-				(1,000,000)
Equity-settled share-based payment movement		-	-		-			-			84,254		-			84,254
Allocation from share premium to warrant equity reserve		-		(141,998)	-		141,998			-		-			-



Balance at 31 May 2026		67,710	1,974,611		-			141,998			84,254			(907,678)			1,360,895

				Year ended			Period ended
		31 May 2026				31 May 2025
	Notes	£		£		£	£

Cash flows from operating activities
Cash absorbed by operations	23				(437,567)			(448)



Net cash outflow from operating activities					(437,567)			(448)

Investing activities
Purchase of intangible assets			(1,524,124)			-
Purchase of Investments			(297,882)			-
Receipts from sale of Investments			74,902
Interest received		7,994				651



Net cash (used in)/generated from investing activities					(1,739,110)		651

Financing activities
Proceeds from issue of shares		1,399,567				1
Share issue costs			(215,248)			-
Issue of convertible loans		1,000,000				-



Net cash generated from financing activities				2,184,319			1



Net increase in cash and cash equivalents				7,642			204

Cash and cash equivalents at beginning of year				204			-



Cash and cash equivalents at end of year				7,846			204



Non-cash transactions

During the period, convertible loan notes with a principal value of £1,000,000 were converted into ordinary shares of the Company. Also, during the year, the Company transferred 19 Bitcoin in exchange for 1,900 Class C participating shares in Falcon Hybrid SPC, relating to the Paravene-Falcon Protected Leverage Fund SP. The non-cash consideration was valued at £1,331,325 at the transaction date. These transactions did not involve cash or cash equivalents and have therefore been excluded from investing cash receipts and payments in the statement of cash flows.

1	Accounting policies

	Company information
	FALCONEDGE PLC is a public company limited by shares incorporated in England and Wales. The registered office is 64 North Row, London, W1K 7DA. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1	Basis of preparation
	The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with the requirements of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated.

	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, except for the revaluation of Investment. The principal accounting policies adopted are set out below.

1.2	Going concern
	The directors have at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3	Revenue
	Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation. When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.4	Bitcoin held directly by the Company
	Bitcoin held directly for treasury investment purposes is accounted for as an intangible asset under IAS 38. It is initially recognised at cost, including directly attributable acquisition costs, and subsequently measured at cost less accumulated impairment losses. Bitcoin has an indefinite useful life because there is no foreseeable limit to the period over which it is expected to generate economic benefits. It is not amortised. The assessment of its useful life is reviewed annually. Bitcoin is tested for impairment annually and whenever an indication of impairment arises. An impairment loss is recognised in profit or loss when the carrying amount exceeds the recoverable amount, being the higher of fair value less costs of disposal and value in use. A subsequent reversal is recognised in profit or loss, limited to the carrying amount that would have applied had no impairment been recognised. Gains or losses on disposal are recognised in profit or loss.



1.5	Non-current investments
	The Company’s non-current investments represent Class C participating shares in Falcon Hybrid SPC, attributable to the Paravene-Falcon Protected Leverage Fund SP, are financial assets accounted for under IFRS 9. The investments are measured at fair value through profit or loss because their returns are linked to the fund’s net asset value and they do not qualify for measurement at amortised cost or fair value through other comprehensive income under the Company’s classification assessment. The Class C investment is a holding of participating fund shares, including where redemption is settled in BTC. It is measured under this financial-asset policy. Any increase in the BTC-denominated NAV is reflected in the investment’s fair value.

1.6	Impairment of tangible and intangible assets
	At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

	Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

	Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7	Cash and cash equivalents
	Cash and cash equivalents 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.

1.8	Financial assets
	Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets. At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.



	Financial assets at fair value through profit or loss
	When any of the above-mentioned conditions for classification of financial assets is not met, a financial asset is classified as measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are recognized initially at fair value and any transaction costs are recognised in profit or loss when incurred. A gain or loss on a financial asset measured at fair value through profit or loss is recognised in profit or loss, and is included within finance income or finance costs in the statement of income for the reporting period in which it arises.

	Financial assets held at amortised cost
	Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

	Financial assets at fair value through other comprehensive income
	Debt instruments are classified as financial assets measured at fair value through other comprehensive income where the financial assets are held within the company’s business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt instrument measured at fair value through other comprehensive income is recognised initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognised through other comprehensive income are directly transferred to profit or loss when the debt instrument is derecognised.

	Equity instruments measured at fair value through other comprehensive income are recognized initially at fair value plus transaction cost directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognized through other comprehensive income are directly transferred to retained earnings when the equity instrument is derecognized or its fair value substantially decreased. Dividends are recognized as finance income in profit or loss.

	Impairment of financial assets
	Financial assets carried at amortised cost and FVTPL are assessed for indicators of impairment at each reporting end date. The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.

	Derecognition of financial assets
	Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

1.9	Financial liabilities
	The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.




	Other financial liabilities
	Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

	Derecognition of financial liabilities
	Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

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

1.11	Taxation
	The tax expense represents the sum of the tax currently payable and deferred tax.

	Current tax
	The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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
	Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither taxable profit nor 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 income statement, 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.

1.12	Employee benefits
	The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of inventories or non-current assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminating an employee's employment or providing termination benefits.



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

1.14	Share-based payments
	The Company operates equity-settled share-based remuneration plans for employees and eligible third-party service providers. Equity-settled share-based payments are measured at the fair value of the equity instruments at the grant date using the Black-Scholes option pricing model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of equity instruments that will eventually vest, with a corresponding credit to the Share-Based Payment Reserve within equity. Upon the exercise of options, the balance in this reserve is transferred to Share Capital and Share Premium.

	When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value. Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

2	Revenue
		2026		2025
		£		£
	Revenue analysed by class of business
	Sale of services	151,197		-



		2026		2025
		£		£
	Revenue analysed by geographical market
	United Kingdom	151,197		-




3	Operating loss
		2026		2025
	Operating loss for the year is stated after charging/(crediting):	£		£

	Exchange gains		(3,071)		(12)
	Fees payable to the company's auditor for the audit of the company's financial statements	18,000		-
	Loss on disposal of intangible assets	165,502		-
	Share-based payments	84,254		-

4	Employees

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

		2026		2025
		Number		Number

		4		1



	Their aggregate remuneration comprised:
		2026		2025
		£		£

	Wages and salaries	213,248		-
	Pension costs	1,461		-



		214,709		-



5	Directors' remuneration
		2026		2025
		£		£

	Remuneration for qualifying services	106,900		-



6	Investment income
		2026		2025
		£		£
	Interest income
	Financial instruments measured at amortised cost:
	Bank deposits	7,994		-
	Other interest income on financial assets	-		651



	Total interest revenue	7,994		651



	Income above relates to assets held at amortised cost, unless stated otherwise.

7	Other gains and losses
		2026		2025
		£		£

	Change in value of financial assets at fair value through profit or loss		(224,187)		-

10		Intangible assets

							BTC held on exchanges
							£

		Amortisation and impairment
		Impairment loss					6,570



		At 31 May 2026					6,570



		Carrying amount
		At 31 May 2026					20,727





		At 31 May 2026, the company held a total of 0.3785 Bitcoin (BTC), comprising 0.3785 BTC held on the exchanges. These holdings were acquired in November 2025 at an average cost of £72,118 per BTC. Bitcoin held directly by the Company for treasury investment purposes is recognised as an intangible asset under IAS 38. It is initially measured at acquisition cost, including directly attributable acquisition costs, and subsequently carried at cost less accumulated impairment losses. Bitcoin is assessed as having an indefinite useful life and is therefore not amortised. It is tested for impairment annually and whenever circumstances indicate that its carrying amount may not be recoverable. An impairment loss is recognised in the income statement when the carrying amount exceeds the recoverable amount, being the higher of fair value less costs of disposal and value in use. Subsequent impairment reversals are recognised in the income statement, limited to the carrying amount that would have applied had no impairment been recognised.

11	Investments
			Current		Non-current
			2026	2025	2026	2025
			£	£	£	£

	Investments held at fair value through profit or loss		234,501	-	-	-
	Financial assets at fair value through profit or loss		-	-	1,097,935	-



			234,501	-	1,097,935	-



During the year, the company subscribed for Class B and Class C participating shares in Falcon Hybrid SPC in respect of the Paravene-Falcon Protected Leverage Fund SP. At 31 May 2026, the company held 253.02 Class B participating shares, denominated in fiat currency, with a fair value of £234,501. At 31 May 2026, the company also held 1,900 Class C participating shares, denominated in Bitcoin (BTC). The fund holds the BTC in a designated wallet, and redemption proceeds will be settled in BTC rather than sterling. The administrator’s statement reported an aggregate net asset value (NAV) of 20.07126665 BTC for the Class C shareholding. Using the BTC price of £54,701.86 at the reporting date, the sterling fair value of this investment was £1,097,935.

Fair value of financial assets carried at fair value through profit or loss
The Company’s investments in Class B and Class C participating shares in Falcon Hybrid SPC, relating to the Paravene-Falcon Protected Leverage Fund SP, are classified as financial assets at fair value through profit or loss. The investments are initially recognised at fair value, with directly attributable transaction costs recognised as an expense. Subsequently, the investments are measured at fair value at each reporting date. All resulting gains and losses are recognised within other gains and losses in the income statement.

Movements in non-current investments
	Investments
	£
Cost or valuation
At 1 June 2025	-
Additions	1,331,325
Disposals		-



At 31 May 2026	1,331,325



Fair value movement
At 1 June 2025	-
Fair value loss		(233,390)



At 31 May 2026		(233,390)



Carrying amount
At 31 May 2026	1,097,935



At 31 May 2025	-



	On 17 July 2025, the Company issued one additional ordinary share of £1 for £1. On 10 September 2025, the two existing ordinary shares of £1 each were subdivided into 29,850 ordinary shares of £0.000067 each. A further 749,970,150 ordinary shares were allotted on that date for aggregate consideration of £50,248, bringing the number of shares in issue before the IPO to 750,000,000. The comparative share number and the July allotment shown above have been adjusted to reflect the subdivision. At 31 May 2025, the legal issued share capital comprised one ordinary share of £1, equivalent to 14,925 shares following the subdivision. This adjustment does not change the comparative share capital balance of £1.

18	Share premium account
			2026			2025
			£			£

	At the beginning of the year		-			-
	Issue of new shares		2,427,377			-
	Share issue expenses			(310,768)			-
	Allocation to warrant equity reserve			(141,998)			-



	At the end of the year		1,974,611			-



19	Warrant equity reserve
		2026			2025
		£			£

	At the beginning of the year	-			-
	Additions	141,998			-



	At the end of the year	141,998			-



	The warrant equity reserve represents the amount allocated on initial recognition to the 54,697,223 equity-classified warrants issued in connection with the Company’s convertible loan note financing. The allocation is determined as part of the initial accounting for the financing arrangement in accordance with IAS 32 Financial Instruments: Presentation. The reserve is not subsequently remeasured for changes in the Company’s share price. Converting the related loan notes into ordinary shares does not extinguish the outstanding warrants, and the amount attributable to those warrants remains in equity.

20	Share option reserve
		2026			2025
		£			£

	At the beginning of the year	-			-
	Additions	84,254			-



	At the end of the year	84,254			-



	The share-based payment reserve represents the cumulative amount recognised in equity in respect of equity-settled share options and warrants granted to directors and advisers in exchange for services, in accordance with IFRS 2 Share-based Payment. The related cost is recognised as services are received over the applicable vesting period, taking account of relevant service and non-market performance conditions. Amounts recognised are not subsequently remeasured for changes in the Company’s share price.

21	Capital risk management

	The company is not subject to any externally imposed capital requirements.

22	Related party transactions

	Remuneration of key management personnel
	The remuneration of key management personnel, including directors, is set out below in aggregate for each category specified in IAS 24 Related Party Disclosures.

				2026	2025
				£	£

	Short-term employee benefits			106,900	-
	Share-based payments			49,782	-



				156,682	-



	Other transactions with related parties
	During the year, the company entered into the following transactions with Falcon Investment Management Ltd (a company controlled by one of the directors):

		Sale of services		Purchase of services
		2026	2025	2026	2025
		£	£	£	£

	Other related parties	150,901	-	266,734	-



	The following amounts were outstanding at the reporting end date:
				2026	2025
	Amounts due from related parties			£	£

	Entities with joint control or significant influence over the company			9,666	-



	Of the outstanding balance, £2,666 was receivable from Falcon Investment Management (2025: Nil), and £7,000 was receivable from Falcon Capital Management Limited (2025: £7,000).In the period ended 31 May 2025, audit fees of £5,000 and accounts-preparation fees of £2,000 were borne by Falcon Capital Management Limited. Investment in the related fund During the year, the Company invested in Class B and Class C participating shares of Falcon Hybrid SPC attributable to the Paravene-Falcon Protected Leverage Fund SP, a related party in common control of Benny Menashe. At 31 May 2026, the Company held 253.02 Class B shares and 1,900 Class C shares, with fair values of £234,502 and £1,097,936 respectively (2025: nil).

23	Cash absorbed by operations
			2026		2025
			£		£

	(Loss)/profit for the year before taxation			(907,841)		163

	Adjustments for:
	Investment income			(7,994)		(651)
	Loss on disposal of intangibles		165,502		-
	Amortisation and impairment of intangible assets		6,570		-
	Other gains and losses		221,868		-
	Equity-settled share-based payment expense		84,254		-

	Movements in working capital:
	Decrease/(increase) in trade and other receivables		62,108			(111,289)
	(Decrease)/increase in trade and other payables			(62,034)		111,329



	Cash absorbed by operations			(437,567)		(448)



	Non-cash transactions During the period, convertible loan notes with a principal value of £1,000,000 were converted into ordinary shares of the Company. Also, during the year, the Company transferred 19 Bitcoin in exchange for 1,900 Class C participating shares in Falcon Hybrid SPC, relating to the Paravene-Falcon Protected Leverage Fund SP. The non-cash consideration was valued at £1,331,325 at the transaction date. These transactions did not involve cash or cash equivalents and have therefore been excluded from investing cash receipts and payments in the statement of cash flows.

24	Analysis of changes in net funds
		1 June 2025	Cash flows		31 May 2026
		£	£		£

	Cash at bank and in hand	204	7,642		7,846



	10 May 2024	Cash flows	31 May 2025
Prior year:	£	£	£

Cash at bank and in hand	-	204	204

Final Results for the year ended 31 May 2026

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