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{ "value": "19994.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-94": { "value": "189536.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-95": { "value": "61.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2026-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-96": { "value": "19994.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-105": { "value": "1. General information Pineapple Power Corporation plc (the \u201cCompany\u201d) is a public limited company incorporated and domiciled in England and Wales under the Companies Act 2006. The Company\u2019s registered number is 09081452. The registered office of the Company is Eccleston Yards, 25 Eccleston Place, London SW1W 9NF. The Company\u2019s ordinary shares are admitted to the Official List and to trading on the Main Market of the London Stock Exchange. The principal activity of the Company is the identification and evaluation of potential companies, businesses or assets for acquisition, with a focus on the clean and renewable energy sectors and other disruptive technologies. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-97": { "value": "Pineapple Power Corporation plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-98": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-99": { "value": "England and Wales", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-102": { "value": "England and Wales", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-103": { "value": "Eccleston Yards, 25 Eccleston Place, London SW1W 9NF. ", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-100": { "value": "London", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-101": { "value": "The principal activity of the Company is the identification and evaluation of potential companies, businesses or assets for acquisition, with a focus on the clean and renewable energy sectors and other disruptive technologies.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-117": { "value": "2. Basis of preparation and material accounting policies Statement of compliance The financial statements have been prepared in accordance with UK-adopted international accounting standards and with the requirements of the Companies Act 2006. They have been prepared under the historical cost convention. The financial statements are presented in Pounds Sterling, which is the Company\u2019s functional and presentational currency, and are rounded to the nearest \u00a31. Going concern The financial statements have been prepared on the going concern basis. At 31 December 2025 the Company had net liabilities of \u00a3427,665 (2024: net liabilities of \u00a3212,952) and held cash and cash equivalents of \u00a361 (2024: \u00a319,994). The Company generated no revenue during the year and incurred a loss of \u00a3214,713 (2024: \u00a3356,589). During the year its working capital was supported by related-party loans, which totalled \u00a354,282 at the year end (2024: \u00a312,500). The Company requires additional funding to meet its liabilities as they fall due and to pursue its acquisition strategy. During 2026 the Company became involved in a dispute with two former consultants regarding unpaid fees, expenses and loans. Statutory demands totalling \u00a3238,616 were served in July 2026 and withdrawn in September 2026, but the underlying claims remain in dispute. The Directors have assessed the known claims and reflected the amounts considered payable in the financial statements. In June 2026 the Company raised \u00a3318,000 through the issue of convertible loan notes (see note 17), of which \u00a3244,000 had converted into ordinary shares by 8 October 2026. The remaining \u00a374,000 is convertible at the discretion of the noteholder. The Directors have prepared cash flow forecasts covering the period to October 2027, being at least twelve months from the date of approval of these financial statements. These forecasts reflect the Company's limited ongoing cost base, which consists mainly of Directors' fees and listed company costs, and show that the Company will need to raise further funds within the forecast period to meet its obligations, including any settlement of the disputed claims. The forecasts principally assume that the Company will secure additional equity funding of up to \u00a3750,000 by 31 December 2026. The Company's broker, AlbR Capital, has been in close and regular contact with management throughout 2026, and the Directors expect the fundraising to be supported by the same group of investors that subscribed for the June 2026 convertible loan notes, led by William Potts. The Company has received a written, non-binding indication of support from William Potts for \u00a3250,000 of the proposed fundraising. It is confirmed that the investors have the financial capacity to provide this support and this is expected to remain their position throughout the going concern assessment period. The Directors expect the balance of the proposed fundraising to be provided by other prospective investors; however, no binding commitments are currently in place. If the anticipated funding is delayed or secured at a lower level than forecast, the Directors intend to implement mitigating actions within their control, including reducing discretionary expenditure and deferring payment of Directors' remuneration until sufficient funding is available. In concluding that the going concern basis remains appropriate, the Directors have considered the successful fundraising in June 2026, the strengthening of the Board through the appointments of Adam Park and Nicholas Nelson, the written indication of investor support and the mitigating actions available. Having considered these matters, the Directors have a reasonable expectation that the Company will have sufficient resources to continue in operational existence for the foreseeable future. Accordingly, the Directors continue to adopt the going concern basis in preparing the financial statements. However, the proposed funding remains non-binding and dependent on the successful completion of future fundraising, and the outcome of the dispute with the former consultants is uncertain. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. The Company may therefore be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern. Financial instruments Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. The Company\u2019s financial assets comprise cash and cash equivalents and other receivables, which are held to collect contractual cash flows that are solely payments of principal and interest and are measured at amortised cost, less any expected credit losses. The Company\u2019s financial liabilities comprise trade and other payables and related-party loans, which are non-derivative and are measured at amortised cost using the effective interest method. Financial assets are derecognised when the contractual rights to the cash flows expire or are transferred; financial liabilities are derecognised when the related obligation is discharged, cancelled or expires. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand and are subject to an insignificant risk of changes in value. Trade and other receivables Trade and other receivables are initially recognised at fair value and subsequently measured at amortised cost less any provision for impairment, determined on the expected credit loss basis in accordance with IFRS 9. Trade and other payables Trade and other payables are non-interest bearing and are stated at amortised cost. Equity Share capital represents the nominal value of ordinary shares in issue. The share premium account represents amounts subscribed for share capital in excess of nominal value, net of directly attributable issue costs. Equity-settled share-based payments are credited to a share-based payment reserve until the related options or warrants are exercised or lapse. On lapse of an equity-settled award, the associated balance is transferred within equity to retained losses. Retained losses comprise all current and prior period results. Share-based payments Equity-settled share-based payments are measured at fair value at the date of grant using the Black - Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the Company\u2019s estimate of the number of awards that will eventually vest, with a corresponding credit to the share-based payment reserve. No share-based payment awards were granted during the year (2024: none). New and amended standards Taxation The standards and interpretations that are relevant to the Group, effective in this financial year are listed below. There has been no impact on the financial statements from the adoption of these standards. Standard Tax on the profit or loss for the year comprises current and deferred tax. Current tax is the expected tax payable on the taxable result for the year, using tax rates enacted or substantively enacted at the reporting date. Deferred tax is recognised on temporary differences using the balance sheet liability method. Deferred tax assets are recognised only to the extent that it is probable that future taxable profits will be In preparing the financial statements the Directors are required to make judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. The Directors consider the assessment of the Company\u2019s ability to continue as a going concern (see above) to be the principal critical accounting judgement. Apart from this, the Directors do not consider there to be any other critical accounting judgements or key sources of estimation uncertainty affecting the financial statements. Impact on initial application Effective date available against which the underlying temporary differences can be utilised. Critical accounting judgements and key sources of estimation uncertainty An entity is impacted by the amendments when it has a transaction or an operation in a foreign currency that is not exchangeable into another currency at a measurement date for a specified purpose. Amendments to IAS 21 \u2013 A currency is exchangeable when there is an Annual periods Lack of Exchangeability ability to obtain the other currency (with a beginning on or after 1 normal administrative delay), and the January 2025 transaction would take place through a market or exchange mechanism enforceable rights and obligations. creates that There has been no impact on the financial statements from the adoption of this standard. IFRS 18 replaces IAS 1. It introduces defined categories in the statement of comprehensive income (operating, investing and financing) and new required subtotals, operating including profit. It also requires of disclosure management-defined performance measures and provides enhanced on guidance aggregating and disaggregating information. Consequential amendments to IAS 7 require IFRS 18 \u2013 Presentation and indirect method. operating profit to be the starting point for the Annual periods Disclosure in Financial IFRS 18 does not change recognition or beginning on or after 1 Statements measurement, but it will change how the January 2027 Company presents its results. The Company's administrative expenses within fall will the operating category. Finance costs on borrowings, including the convertible loan notes issued after the year end, are expected to fall within the financing category. The standard applies retrospectively, so comparatives will be restated. The Company is assessing the full impact.
Standard
Impact on initial application
Effective date
The amendments clarify when financial assets
and liabilities are derecognised. They include
an option to derecognise
financial liabilities
settled through an electronic payment system
Amendments to IFRS 9 and
before the settlement date, if certain criteria are
Annual periods
IFRS 7 \u2013 Classification and
met.
They also
clarify
how
to
assess
the
beginning on or after 1
Measurement of Financial
contractual cash flows of financial assets with
Instruments
ESG-linked
and
similar
and
features,
add
January 2026
disclosures for such instruments and for equity
investments designated at FVOCI.
The
Company
does
not
expect
a material
impact.
These are narrow-scope amendments to IFRS
Annual
Improvements
to
1, IFRS 7, IFRS 9, IFRS 10 and IAS 7 that clarify
Annual periods
IFRS
Accounting
wording and remove inconsistencies.
beginning on or after 1
Standards \u2013 Volume 11
The
Company
does
not
expect
a material
January 2026
impact.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-106": { "value": "Statement of compliance The financial statements have been prepared in accordance with UK-adopted international accounting standards and with the requirements of the Companies Act 2006. They have been prepared under the historical cost convention. The financial statements are presented in Pounds Sterling, which is the Company\u2019s functional and presentational currency, and are rounded to the nearest \u00a31.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-104": { "value": "The financial statements have been prepared in accordance with UK-adopted international accounting standards and with the requirements of the Companies Act 2006. They have been prepared under the historical cost convention. The financial statements are presented in Pounds Sterling, which is the Company\u2019s functional and presentational currency, and are rounded to the nearest \u00a31. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-107": { "value": "Going concern The financial statements have been prepared on the going concern basis. At 31 December 2025 the Company had net liabilities of \u00a3427,665 (2024: net liabilities of \u00a3212,952) and held cash and cash equivalents of \u00a361 (2024: \u00a319,994). The Company generated no revenue during the year and incurred a loss of \u00a3214,713 (2024: \u00a3356,589). During the year its working capital was supported by related-party loans, which totalled \u00a354,282 at the year end (2024: \u00a312,500). The Company requires additional funding to meet its liabilities as they fall due and to pursue its acquisition strategy. During 2026 the Company became involved in a dispute with two former consultants regarding unpaid fees, expenses and loans. Statutory demands totalling \u00a3238,616 were served in July 2026 and withdrawn in September 2026, but the underlying claims remain in dispute. The Directors have assessed the known claims and reflected the amounts considered payable in the financial statements. In June 2026 the Company raised \u00a3318,000 through the issue of convertible loan notes (see note 17), of which \u00a3244,000 had converted into ordinary shares by 8 October 2026. The remaining \u00a374,000 is convertible at the discretion of the noteholder. The Directors have prepared cash flow forecasts covering the period to October 2027, being at least twelve months from the date of approval of these financial statements. These forecasts reflect the Company's limited ongoing cost base, which consists mainly of Directors' fees and listed company costs, and show that the Company will need to raise further funds within the forecast period to meet its obligations, including any settlement of the disputed claims. The forecasts principally assume that the Company will secure additional equity funding of up to \u00a3750,000 by 31 December 2026. The Company's broker, AlbR Capital, has been in close and regular contact with management throughout 2026, and the Directors expect the fundraising to be supported by the same group of investors that subscribed for the June 2026 convertible loan notes, led by William Potts. The Company has received a written, non-binding indication of support from William Potts for \u00a3250,000 of the proposed fundraising. It is confirmed that the investors have the financial capacity to provide this support and this is expected to remain their position throughout the going concern assessment period. The Directors expect the balance of the proposed fundraising to be provided by other prospective investors; however, no binding commitments are currently in place. If the anticipated funding is delayed or secured at a lower level than forecast, the Directors intend to implement mitigating actions within their control, including reducing discretionary expenditure and deferring payment of Directors' remuneration until sufficient funding is available. In concluding that the going concern basis remains appropriate, the Directors have considered the successful fundraising in June 2026, the strengthening of the Board through the appointments of Adam Park and Nicholas Nelson, the written indication of investor support and the mitigating actions available. Having considered these matters, the Directors have a reasonable expectation that the Company will have sufficient resources to continue in operational existence for the foreseeable future. Accordingly, the Directors continue to adopt the going concern basis in preparing the financial statements. However, the proposed funding remains non-binding and dependent on the successful completion of future fundraising, and the outcome of the dispute with the former consultants is uncertain. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. The Company may therefore be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-108": { "value": "Financial instruments Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. The Company\u2019s financial assets comprise cash and cash equivalents and other receivables, which are held to collect contractual cash flows that are solely payments of principal and interest and are measured at amortised cost, less any expected credit losses. The Company\u2019s financial liabilities comprise trade and other payables and related-party loans, which are non-derivative and are measured at amortised cost using the effective interest method. Financial assets are derecognised when the contractual rights to the cash flows expire or are transferred; financial liabilities are derecognised when the related obligation is discharged, cancelled or expires. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-109": { "value": "Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand and are subject to an insignificant risk of changes in value. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-110": { "value": "Trade and other receivables Trade and other receivables are initially recognised at fair value and subsequently measured at amortised cost less any provision for impairment, determined on the expected credit loss basis in accordance with IFRS 9. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-111": { "value": "Trade and other payables Trade and other payables are non-interest bearing and are stated at amortised cost. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-112": { "value": "Equity Share capital represents the nominal value of ordinary shares in issue. The share premium account represents amounts subscribed for share capital in excess of nominal value, net of directly attributable issue costs. Equity-settled share-based payments are credited to a share-based payment reserve until the related options or warrants are exercised or lapse. On lapse of an equity-settled award, the associated balance is transferred within equity to retained losses. Retained losses comprise all current and prior period results. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-113": { "value": "Share-based payments Equity-settled share-based payments are measured at fair value at the date of grant using the Black - Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the Company\u2019s estimate of the number of awards that will eventually vest, with a corresponding credit to the share-based payment reserve. No share-based payment awards were granted during the year (2024: none). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-116": { "value": "New and amended standards The standards and interpretations that are relevant to the Group, effective in this financial year are listed below. There has been no impact on the financial statements from the adoption of these standards. Standard Impact on initial application Effective date An entity is impacted by the amendments when it has a transaction or an operation in a foreign currency that is not exchangeable into another currency at a measurement date for a specified purpose. Amendments to IAS 21 \u2013 A currency is exchangeable when there is an Annual periods Lack of Exchangeability ability to obtain the other currency (with a beginning on or after 1 normal administrative delay), and the January 2025 transaction would take place through a market or exchange mechanism enforceable rights and obligations. creates that There has been no impact on the financial statements from the adoption of this standard. IFRS 18 replaces IAS 1. It introduces defined categories in the statement of comprehensive income (operating, investing and financing) and new required subtotals, operating including profit. It also requires of disclosure management-defined performance measures and provides enhanced on guidance aggregating and disaggregating information. Consequential amendments to IAS 7 require IFRS 18 \u2013 Presentation and indirect method. operating profit to be the starting point for the Annual periods Disclosure in Financial IFRS 18 does not change recognition or beginning on or after 1 Statements measurement, but it will change how the January 2027 Company presents its results. The Company's administrative expenses within fall will the operating category. Finance costs on borrowings, including the convertible loan notes issued after the year end, are expected to fall within the financing category. The standard applies retrospectively, so comparatives will be restated. The Company is assessing the full impact.
Standard
Impact on initial application
Effective date
The amendments clarify when financial assets
and liabilities are derecognised. They include
an option to derecognise
financial liabilities
settled through an electronic payment system
Amendments to IFRS 9 and
before the settlement date, if certain criteria are
Annual periods
IFRS 7 \u2013 Classification and
met.
They also
clarify
how
to
assess
the
beginning on or after 1
Measurement of Financial
contractual cash flows of financial assets with
Instruments
ESG-linked
and
similar
and
features,
add
January 2026
disclosures for such instruments and for equity
investments designated at FVOCI.
The
Company
does
not
expect
a material
impact.
These are narrow-scope amendments to IFRS
Annual
Improvements
to
1, IFRS 7, IFRS 9, IFRS 10 and IAS 7 that clarify
Annual periods
IFRS
Accounting
wording and remove inconsistencies.
beginning on or after 1
Standards \u2013 Volume 11
The
Company
does
not
expect
a material
January 2026
impact.
", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-114": { "value": "Taxation Tax on the profit or loss for the year comprises current and deferred tax. Current tax is the expected tax payable on the taxable result for the year, using tax rates enacted or substantively enacted at the reporting date. Deferred tax is recognised on temporary differences using the balance sheet liability method. Deferred tax assets are recognised only to the extent that it is probable that future taxable profits will be available against which the underlying temporary differences can be utilised. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-125": { "value": "Deferred tax is recognised on temporary differences using the balance sheet liability method. Deferred tax assets are recognised only to the extent that it is probable that future taxable profits will be available against which the underlying temporary differences can be utilised. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-115": { "value": "In preparing the financial statements the Directors are required to make judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. The Directors consider the assessment of the Company\u2019s ability to continue as a going concern (see above) to be the principal critical accounting judgement. Apart from this, the Directors do not consider there to be any other critical accounting judgements or key sources of estimation uncertainty affecting the financial statements. Critical accounting judgements and key sources of estimation uncertainty ", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-118": { "value": "
3. Administrative expenses
Administrative expenses are analysed as follows:
2025
2024
\u00a3
\u00a3
Directors\u2019 fees
48,000
48,000
Consultancy fees
47,836
180,000
Broker fees
21,600
26,400
Listed company expenses
38,997
35,249
Audit and accountancy fees
38,400
42,000
Professional fees
6,479
-
Legal fees
10,200
-
Other administrative expenses
3,241
26,649
214,753
358,298
Depreciation
\u2013
51
Total administrative expenses
214,753
358,349
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-127": { "value": "3. Administrative expenses Administrative expenses are analysed as follows:
2025
2024
\u00a3
\u00a3
Directors\u2019 fees
48,000
48,000
Consultancy fees
47,836
180,000
Broker fees
21,600
26,400
Listed company expenses
38,997
35,249
Audit and accountancy fees
38,400
42,000
Professional fees
6,479
-
Legal fees
10,200
-
Other administrative expenses
3,241
26,649
214,753
358,298
Depreciation
\u2013
51
Total administrative expenses
214,753
358,349
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-135": { "value": "3. Administrative expenses Administrative expenses are analysed as follows:
2025
2024
\u00a3
\u00a3
Directors\u2019 fees
48,000
48,000
Consultancy fees
47,836
180,000
Broker fees
21,600
26,400
Listed company expenses
38,997
35,249
Audit and accountancy fees
38,400
42,000
Professional fees
6,479
-
Legal fees
10,200
-
Other administrative expenses
3,241
26,649
214,753
358,298
Depreciation
\u2013
51
Total administrative expenses
214,753
358,349
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-119": { "value": "
4. Employees and directors\u2019 remuneration
The Company had no employees during the year other than the Directors, who are considered to be the
key management personnel of the Company. The average number of persons employed by the Company
(including the Directors) during the year was 2 (2024: 2).
2025
2024
\u00a3
\u00a3
Directors\u2019 fees
48,000
48,000
48,000
48,000
The Company operates no pension scheme and made no pension contributions in respect of the Directors.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-126": { "value": "4. Employees and directors\u2019 remuneration The Company had no employees during the year other than the Directors, who are considered to be the key management personnel of the Company. The average number of persons employed by the Company (including the Directors) during the year was 2 (2024: 2).
2025
2024
\u00a3
\u00a3
Directors\u2019 fees
48,000
48,000
48,000
48,000
The Company operates no pension scheme and made no pension contributions in respect of the Directors.", "dimensions": { "concept": "pnpl:DisclosureOfDirectorsRemuneration", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-136": { "value": "5. Finance income
2025
2024
\u00a3
\u00a3
Bank interest received
40
1,760
40
1,760
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-137": { "value": "6. Taxation No charge to taxation arises for the year (2024: \u00a3nil). The tax on the Company\u2019s loss differs from the amount that would arise using the standard rate of UK corporation tax as follows:
2025
2024
\u00a3
\u00a3
Loss before taxation
(214,713)
(356,589)
Tax credit at the standard UK rate of 25% (2024: 25%*)
(53,678)
(89,147)
Impact of costs disallowed for tax purposes
-
293
Tax effect of unrelieved tax losses carried forward
53,678
88,854
Tax charge for the year
\u2013
\u2013
At 31 December 2025 the Company had estimated unused tax losses of \u00a32,355,158 (2024: \u00a32,140,445) available to carry forward against future taxable profits. These losses have not yet been agreed with HM Revenue & Customs and are not subject to an expiry date. No deferred tax asset has been recognised in respect of these losses on the grounds that there is insufficient certainty regarding the availability of future taxable profits against which they could be utilised. The unrecognised deferred tax asset, calculated at 25% (2024: 25%), amounts to \u00a3588,790 (2024: \u00a3535,111). *The 2024 comparative tax reconciliation has been revised to apply the applicable UK corporation tax rate of 25% rather than 19%. The revision affects only the presentation of the tax reconciliation and has no impact on the previously reported tax charge, loss for the year, net assets, cash flows or shareholders\u2019 funds. ", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-138": { "value": "7. Loss per share Basic loss per share is calculated by dividing the loss attributable to the equity holders of the Company by the weighted average number of ordinary shares in issue during the year.
2025
2024
Loss attributable to equity holders (\u00a3)
(214,713)
(356,589)
Weighted average number of ordinary shares
83,332,878
83,332,878
Basic and diluted loss per share (pence)
(0.26)
(0.43)
There were no options or warrants outstanding at 31 December 2025. The options outstanding during the comparative period were anti-dilutive, as their conversion would reduce the loss per share; accordingly, there is no difference between the basic and diluted loss per share in either year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-139": { "value": "8. Trade and other receivables
2025
2024
\u00a3
\u00a3
Prepayments
\u2013
625
Other receivables
6,661
-
6,661
625
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-140": { "value": "9. Cash and cash equivalents
2025
2024
\u00a3
\u00a3
Cash at bank
61
19,994
61
19,994
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-141": { "value": "10. Trade and other payables
2025
2024
\u00a3
\u00a3
Trade payables
78,397
17,671
Accruals
119,208
203,400
Disputed Liability Claims
182,500
\u2013
380,105
221,071
Disputed liability claims represent amounts claimed by former consultants of the Company in respect of unpaid fees. Statutory demands served in respect of certain of these claims have since been withdrawn; the withdrawal does not constitute settlement of the underlying claims, which remain in dispute with all rights of the parties reserved. The amount recognised represents the Directors' assessment of the amounts considered payable. Negotiations with the claimants and with other creditors are continuing, and the Directors have considered the impact of settlement in their going concern assessment (note 2).", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-142": { "value": "11. Loans from related parties
2025
2024
\u00a3
\u00a3
P J Mills
14,978
12,500
C de Larrabeiti
39,304
-
54,282
12,500
Loans from related parties are unsecured, interest free and repayable on demand, and are accordingly classified as current liabilities. No security has been given and no fixed repayment terms have been agreed. The lenders are related parties of the Company by virtue of their shareholdings and their former positions with the Company (see note 15). ", "dimensions": { "concept": "pnpl:DisclosureOfLoansFromRelatedParties", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-143": { "value": "12. Share capital and share premium
Share
Share
Number of
capital
premium
Total
shares
\u00a3
\u00a3
\u00a3
At 1 January 2024
83,332,878
833,329
1,250,382
2,083,711
Movements in the year
\u2013
\u2013
\u2013
\u2013
At 31 December 2024
83,332,878
833,329
1,250,382
2,083,711
Movements in the year
\u2013
\u2013
\u2013
\u2013
At 31 December 2025
83,332,878
833,329
1,250,382
2,083,711
The Company has one class of ordinary share. All ordinary shares have a par value of 1p, are fully paid, and rank pari passu for voting, the distribution of dividends and the repayment of capital. There were no movements in the Company\u2019s issued share capital during the year or the comparative year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-128": { "value": "12. Share capital and share premium
Share
Share
Number of
capital
premium
Total
shares
\u00a3
\u00a3
\u00a3
At 1 January 2024
83,332,878
833,329
1,250,382
2,083,711
Movements in the year
\u2013
\u2013
\u2013
\u2013
At 31 December 2024
83,332,878
833,329
1,250,382
2,083,711
Movements in the year
\u2013
\u2013
\u2013
\u2013
At 31 December 2025
83,332,878
833,329
1,250,382
2,083,711
The Company has one class of ordinary share. All ordinary shares have a par value of 1p, are fully paid, and rank pari passu for voting, the distribution of dividends and the repayment of capital. There were no movements in the Company\u2019s issued share capital during the year or the comparative year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-129": { "value": "13. Share-based payment reserve
\u00a3
At 1 January 2024
46,142
Movement in the year
\u2013
At 31 December 2024
46,142
Transfer to retained losses on lapse of options
(46,142)
At 31 December 2025
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-130": { "value": "
14. Financial instruments and risk management
The Company\u2019s financial instruments comprise cash and cash equivalents, other receivables, trade and
other payables and related-party loans. The main purpose of these instruments is to provide working
capital for the Company\u2019s operations. The Company does not use derivative financial instruments or
hedging arrangements. The carrying values of the Company\u2019s financial assets and financial liabilities
approximate to their fair values.
Financial assets and liabilities by category
2025
2024
\u00a3
\u00a3
Financial assets at amortised cost
Cash and cash equivalents
61
19,994
Other receivables
6,661
-
Categorised as financial assets
6,722
19,994
Financial liabilities at amortised cost
Trade payables
78,397
17,671
Accruals
119,208
203,400
Disputed Claims
182,500
-
Loans from related parties
54,282
12,500
Categorised as financial liabilities
434,387
233,571
Liquidity risk
Liquidity risk is the risk that the Company will be unable to meet its liabilities as they fall due. The Company
is not revenue-generating and, at the reporting date, held limited cash resources against net liabilities of
\u00a3427,665. The Company manages liquidity risk by monitoring its cash position and forecast expenditure
and, during the year, by drawing on related-party loans. The Company\u2019s reliance on continued funding is
described in the going concern disclosures in note 2. All of the Company\u2019s financial liabilities are payable
within one year.
On 29 June 2026 the Company announced that it had raised \u00a3300,000 through the issue of convertible loan
notes to a group of investors. A further \u00a318,000 of convertible loan notes was subsequently issued to
Nicholas Nelson and one other investor in settlement of loans previously advanced to the Company,
bringing the total in issue to \u00a3318,000. The notes convert at a price of \u00a30.0025 per ordinary share.
On full conversion of \u00a3318,000 of notes, 127,200,000 new ordinary shares would be issued, increasing the issued share capital to 210,532,878 ordinary shares. Nicholas Nelson's holding of 11,600,000 shares would represent 5.5% of the enlarged issued share capital. Credit risk Credit risk arises principally from the Company\u2019s cash and cash equivalents. The Company\u2019s cash is held with Lloyds Bank plc, a UK clearing bank authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Company has no trade receivables, and the Directors consider its exposure to credit risk to be low. Interest rate and currency risk The Company\u2019s related-party loans are non-interest bearing and its cash balances attract only limited interest, so the effect of interest rate movements is not significant. The Company\u2019s transactions are substantially all denominated in Pounds Sterling, and it had no material foreign currency exposure at the reporting date. Capital management The Company considers its capital to comprise its total equity. The Company\u2019s objective in managing capital is to safeguard its ability to continue as a going concern in order to pursue its acquisition strategy. The Company is currently in a net liability position and expects to fund its capital requirements through further fundraising, the continued support of its lenders and, in due course, the completion of an acquisition. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-144": { "value": "14. Financial instruments and risk management The Company\u2019s financial instruments comprise cash and cash equivalents, other receivables, trade and other payables and related-party loans. The main purpose of these instruments is to provide working capital for the Company\u2019s operations. The Company does not use derivative financial instruments or hedging arrangements. The carrying values of the Company\u2019s financial assets and financial liabilities approximate to their fair values. Financial assets and liabilities by category
2025
2024
\u00a3
\u00a3
Financial assets at amortised cost
Cash and cash equivalents
61
19,994
Other receivables
6,661
-
Categorised as financial assets
6,722
19,994
Financial liabilities at amortised cost
Trade payables
78,397
17,671
Accruals
119,208
203,400
Disputed Claims 182,500 - Loans from related parties 54,282 12,500 Categorised as financial liabilities 434,387 233,571 Liquidity risk Liquidity risk is the risk that the Company will be unable to meet its liabilities as they fall due. The Company is not revenue-generating and, at the reporting date, held limited cash resources against net liabilities of \u00a3427,665. The Company manages liquidity risk by monitoring its cash position and forecast expenditure and, during the year, by drawing on related-party loans. The Company\u2019s reliance on continued funding is described in the going concern disclosures in note 2. All of the Company\u2019s financial liabilities are payable within one year. On 29 June 2026 the Company announced that it had raised \u00a3300,000 through the issue of convertible loan notes to a group of investors. A further \u00a318,000 of convertible loan notes was subsequently issued to Nicholas Nelson and one other investor in settlement of loans previously advanced to the Company, bringing the total in issue to \u00a3318,000. The notes convert at a price of \u00a30.0025 per ordinary share. On full conversion of \u00a3318,000 of notes, 127,200,000 new ordinary shares would be issued, increasing the issued share capital to 210,532,878 ordinary shares. Nicholas Nelson's holding of 11,600,000 shares would represent 5.5% of the enlarged issued share capital. Credit risk Credit risk arises principally from the Company\u2019s cash and cash equivalents. The Company\u2019s cash is held with Lloyds Bank plc, a UK clearing bank authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Company has no trade receivables, and the Directors consider its exposure to credit risk to be low. Interest rate and currency risk The Company\u2019s related-party loans are non-interest bearing and its cash balances attract only limited interest, so the effect of interest rate movements is not significant. The Company\u2019s transactions are substantially all denominated in Pounds Sterling, and it had no material foreign currency exposure at the reporting date. Capital management The Company considers its capital to comprise its total equity. The Company\u2019s objective in managing capital is to safeguard its ability to continue as a going concern in order to pursue its acquisition strategy. The Company is currently in a net liability position and expects to fund its capital requirements through further fundraising, the continued support of its lenders and, in due course, the completion of an acquisition. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-120": { "value": "Liquidity risk Liquidity risk is the risk that the Company will be unable to meet its liabilities as they fall due. The Company is not revenue-generating and, at the reporting date, held limited cash resources against net liabilities of \u00a3427,665. The Company manages liquidity risk by monitoring its cash position and forecast expenditure and, during the year, by drawing on related-party loans. The Company\u2019s reliance on continued funding is described in the going concern disclosures in note 2. All of the Company\u2019s financial liabilities are payable within one year. On 29 June 2026 the Company announced that it had raised \u00a3300,000 through the issue of convertible loan notes to a group of investors. A further \u00a318,000 of convertible loan notes was subsequently issued to Nicholas Nelson and one other investor in settlement of loans previously advanced to the Company, bringing the total in issue to \u00a3318,000. The notes convert at a price of \u00a30.0025 per ordinary share. On full conversion of \u00a3318,000 of notes, 127,200,000 new ordinary shares would be issued, increasing the issued share capital to 210,532,878 ordinary shares. Nicholas Nelson's holding of 11,600,000 shares would represent 5.5% of the enlarged issued share capital. ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-121": { "value": "Credit risk Credit risk arises principally from the Company\u2019s cash and cash equivalents. The Company\u2019s cash is held with Lloyds Bank plc, a UK clearing bank authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Company has no trade receivables, and the Directors consider its exposure to credit risk to be low. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-122": { "value": "Interest rate and currency risk The Company\u2019s related-party loans are non-interest bearing and its cash balances attract only limited interest, so the effect of interest rate movements is not significant. The Company\u2019s transactions are substantially all denominated in Pounds Sterling, and it had no material foreign currency exposure at the reporting date. ", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-123": { "value": "Capital management The Company considers its capital to comprise its total equity. The Company\u2019s objective in managing capital is to safeguard its ability to continue as a going concern in order to pursue its acquisition strategy. The Company is currently in a net liability position and expects to fund its capital requirements through further fundraising, the continued support of its lenders and, in due course, the completion of an acquisition. ", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-132": { "value": "15. Related party transactions Loans During the year the Company received loans from parties related to it by virtue of their connection with the Company as advisers and/or shareholders. The balances outstanding at the year end were \u00a314,978 due to Peter J Mills (2024: \u00a312,500) and \u00a339,304 due to Clive de Larrabeiti (2024:nil), as set out in note 11. During the year, related party loans of \u00a343,079 were advanced to the Company, \u00a31,297 were repaid to Clive de Larrabeiti resulting in outstanding loan balance of \u00a354,282 (2024: \u00a312,500) as at 31 December 2025. Consultancy fees Peter J Mills and Clive de Larrabeiti each charged consultancy fees of \u00a320,250 to the Company during the year. At 31 December 2025, consultancy fees of \u00a395,250 (2024: \u00a375,000) were payable to Peter J Mills and \u00a387,250 (2024: \u00a367,000) to Clive de Larrabeiti. These balances are subject to dispute, as set out in note 10. Key management personnel Directors' remuneration is disclosed in note 4 and in the Directors' Remuneration Report. At 31 December 2025, directors' fees of \u00a352,000 (2024: \u00a36,000) were outstanding, being \u00a328,000 due to Andrew Holland and \u00a324,000 due to Claudio Morandi. In addition, \u00a3200 (2024: nil) was due to the Company from Claudio Morandi, Non Executive Chairman, in respect of a payment made to him during the year which is repayable to the Company. ", "dimensions": { "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-124": { "value": "16. Capital commitments, contingent liabilities and operating leases There were no capital commitments, contingent liabilities or commitments under operating leases at 31 December 2025 (2024: \u00a3nil).", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-131": { "value": "16. Capital commitments, contingent liabilities and operating leases There were no capital commitments, contingent liabilities or commitments under operating leases at 31 December 2025 (2024: \u00a3nil). ", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-134": { "value": "17. Events after the reporting period Board changes Adam Park was appointed to the Board on 11 February 2026. Nicholas Nelson was appointed on 24 June 2026, in connection with the fundraising described below. Convertible loan note fundraising On 29 June 2026 the Company announced that it had raised \u00a3300,000 through the issue of convertible loan notes to a group of investors. A further \u00a318,000 of convertible loan notes was subsequently issued to Nicholas Nelson and one other investor in settlement of loans previously advanced to the Company, bringing the total in issue to \u00a3318,000. The notes convert at a price of \u00a30.0025 per ordinary share. On full conversion of \u00a3318,000 of notes, 127,200,000 new ordinary shares would be issued, increasing the issued share capital to 210,532,878 ordinary shares. Nicholas Nelson's holding of 11,600,000 shares would represent 5.5% of the enlarged issued share capital. Conversion of convertible loan notes On 21 September 2026, convertible loan notes of \u00a329,000 held by Nicholas Nelson, a Director, were converted at \u00a30.0025 per share into 11,600,000 new ordinary shares of \u00a30.01 each. Mr Nelson's notes comprised \u00a320,000 subscribed in the June 2026 fundraise and \u00a39,000 issued on the same terms in settlement of a bridging loan he had previously provided to the Company. On 24 September 2026, further convertible loan notes of \u00a3155,000 were converted at \u00a30.0025 per share into 62,000,000 new ordinary shares of \u00a30.01 each. On 8 October 2026, further convertible loan notes of \u00a360,000 were converted at \u00a30.0025 per share into 24,000,000 new ordinary shares. Following these conversions, the Company had 180,932,877 ordinary shares in issue and \u00a374,000 of convertible loan notes outstanding, convertible into 29,600,000 ordinary shares. Application has been made for the 97,600,000 new ordinary shares to be admitted to trading on the Main Market of the London Stock Exchange, with admission expected on or about 22 October 2026. Disputed consultant claims and statutory demands During 2026, the Company became involved in a dispute with two former consultants, Peter J Mills and Clive de Larrabeiti, concerning unpaid consultancy fees, expenses and loans. On 10 July 2026, statutory demands totalling \u00a3238,616 were served on the Company. These statutory demands were withdrawn on 4 September 2026; however, their withdrawal did not constitute settlement or withdrawal of the underlying claims. On 9 October 2026, the former consultants issued a formal Letter Before Claim in respect of the amounts claimed. The Company continues to dispute the claims and is taking legal advice. The parties\u2019 respective rights remain reserved and discussions concerning the amounts claimed and the timing of any settlement remain ongoing. The amounts that the directors consider payable at 31 December 2025 have been recognised in the financial statements and are disclosed in Notes 10 and 11. There have been no other events after the reporting period requiring disclosure in these financial statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-133": { "value": "18. Ultimate controlling party In the opinion of the Directors there is no single ultimate controlling party of the Company.", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800BTD7JL99MTGQ68", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }