213800YCXZV6RSHGGT042023-07-012024-06-30iso4217:GBP213800YCXZV6RSHGGT042022-07-012023-06-30iso4217:GBPxbrli:shares213800YCXZV6RSHGGT042024-06-30213800YCXZV6RSHGGT042023-06-30213800YCXZV6RSHGGT042022-06-30ifrs-full:IssuedCapitalMemberifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042022-06-30ifrs-full:SharePremiumMemberifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042022-06-30ifrs-full:RetainedEarningsMemberifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042022-06-30ifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042022-07-012023-06-30ifrs-full:IssuedCapitalMemberifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042022-07-012023-06-30ifrs-full:SharePremiumMemberifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042022-07-012023-06-30ifrs-full:RetainedEarningsMemberifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042022-07-012023-06-30ifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042022-07-012023-06-30ifrs-full:IssuedCapitalMember213800YCXZV6RSHGGT042022-07-012023-06-30ifrs-full:SharePremiumMember213800YCXZV6RSHGGT042023-06-30ifrs-full:IssuedCapitalMemberifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042023-06-30ifrs-full:SharePremiumMemberifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042023-06-30ifrs-full:RetainedEarningsMemberifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042023-06-30ifrs-full:PreviouslyStatedMember213800YCXZV6RSHGGT042023-06-30ifrs-full:IssuedCapitalMemberifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember213800YCXZV6RSHGGT042023-06-30ifrs-full:SharePremiumMemberifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember213800YCXZV6RSHGGT042023-06-30ifrs-full:RetainedEarningsMemberifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember213800YCXZV6RSHGGT042023-06-30ifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember213800YCXZV6RSHGGT042023-06-30ifrs-full:IssuedCapitalMember213800YCXZV6RSHGGT042023-06-30ifrs-full:SharePremiumMember213800YCXZV6RSHGGT042023-06-30ifrs-full:RetainedEarningsMember213800YCXZV6RSHGGT042023-07-012024-06-30ifrs-full:IssuedCapitalMember213800YCXZV6RSHGGT042023-07-012024-06-30ifrs-full:SharePremiumMember213800YCXZV6RSHGGT042023-07-012024-06-30ifrs-full:RetainedEarningsMember213800YCXZV6RSHGGT042024-06-30ifrs-full:IssuedCapitalMember213800YCXZV6RSHGGT042024-06-30ifrs-full:SharePremiumMember213800YCXZV6RSHGGT042024-06-30ifrs-full:RetainedEarningsMember213800YCXZV6RSHGGT042022-06-30

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)

ICONIC LABS PLC

Registered number: 10197256 (England & Wales)

AUDITED ANNUAL REPORT

&

ACCOUNTS

YEAR ENDED 30 JUNE 2024

![](data:image/png;base64,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)

ICONIC LABS PLC

CONTENTS

Pages

Company Information

1

Chief Executive Officer’s Report

2

Strategic Report

3

Corporate Governance Report

8

Remuneration Committee Report

14

Audit Committee Report

16

Directors’ Report

17

Independent Auditor’s Report

20

Consolidated Statement of Comprehensive Income

25

Consolidated Statement of Financial Position

26

Consolidated Statement of Changes in Equity

27

Consolidated Statement of Cash Flows

28

Company Statement of Financial Position

29

Company Statement of Changes in Equity

30

Notes to the Financial Statements

31

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)

ICONIC LABS PLC

COMPANY INFORMATION

Page 1

Directors

John Farquharson

Victor

Humberdot

Béla Lendvai-Lintner

Company secretary

AMBA Secretaries Limited

400 Thames Valley Park Drive

Reading

Berkshire

RG6 1PT

Company number

10197256

Registered office

7 Bell Yard

London

WC2A 2JR

Auditor

Royce Peeling Green Limited

The Copper Room

Deva City Office Park

Trinity Way

Manchester

M3 7BG

Solicitor

RWK Goodman

69 Carter Lane

London

EC4V 5EQ

Financial Adviser

Novum Securities Limited

2

nd

Floor

7-10 Chandos Street

London

W1G 9DQ

Registrar

Equiniti Group Limited

Sutherland House

Russell Way

Crawley

West Sussex

RH10 1UH

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)

ICONIC LABS PLC

CHIEF EXECUTIVE OFFICER’S REPORT

Page 2

Dear Shareholders,

I am pleased to present the audited accounts of Iconic Labs PLC and its subsidiaries (together, “Iconic” or the

“Company”) for the twelve months ended 30 June 2024.

Strategic Overview

Historically, Iconic has been a media and technology business focused on developing ventures and identifying

acquisitions in the online media, artificial intelligence, and big data sectors. Our sole asset during this period was

Gay Star News ("GSN"), an online media platform dedicated to the LGBTQ+ community. GSN continues to be

part of our portfolio, championing diversity and inclusion in the digital media space.

Following our successful exit from administration and completion of all Company Voluntary Arrangement

("CVA") requirements on 21 September 2023, we initially intended to develop a strategic advisory services

business. This venture aimed to provide fee-based services to technology companies in our core sectors, advising

on growth strategy, product development, social media, marketing, and capital raising. However, unfavourable

market conditions led us to reassess this strategy. Recognising the need for a more viable path forward, we

redirected our efforts toward identifying a suitable acquisition target that would align with our long-term

objectives.

Proposed Acquisition of In The Style Fashion Limited

After an extensive review of potential targets and following the suspension of our shares on 29 February 2024,

on 11 March 2024 Iconic entered into non-binding heads of terms with the sellers of ITS Holdings 2023 Ltd “(ITS

2023”) the parent company of In The Style Fashion Limited ("ITSFL"), a leading online fashion retailer.

Founded in 2013, ITSFL is a dynamic e-commerce apparel brand with a loyal and growing customer base of

predominantly women aged 16 to 35. The company has carved out a unique position in the market through its

innovative influencer collaboration model. By partnering with influencers who have high engagement on social

media platforms, ITSFL co-creates fashion collections that resonate deeply with its target audience.

We are working with our advisers to undertake the due diligence necessary to complete the proposed

acquisition. As the transaction will constitute a reverse takeover under the Listing Rules, our advisers are

assisting us with the process of readmission to the Official List and to trading on the Main Market of the London

Stock Exchange (“Readmission”). As a result of the due diligence to date, it is now proposed that Iconic will

acquire ITSFL directly from ITS 2023 and will not acquire ITS 2023.

Looking Ahead

The coming year promises to be an exciting chapter in Iconic’s evolution. The completion of the proposed ITSFL

acquisition will be a priority, and we are committed to realising the full potential of the business. Our focus will

be on leveraging synergies, driving growth, and delivering sustainable shareholder returns.

On behalf of the Board, I would like to express my gratitude to our shareholders for their continued support and

patience during this transformative period. I would also like to thank our stakeholders for their dedication and

trust in our vision.

We look forward to updating you on our progress in the months ahead.

John Farquharson

Interim Chief Executive Officer

Date: 30 October 2024

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)

ICONIC LABS PLC

STRATEGIC REPORT

Page 3

INTRODUCTION

This is the eighth set of financial statements prepared by Iconic. This Strategic Report should also be read in

conjunction with the Chief Executive Officer’s Report.

Principal Activities

Iconic has entered into non-binding heads of terms with the sellers of ITS Holdings 2023 Ltd, the parent company

of In The Style Fashion Limited, a leading online fashion retailer.

Iconic’s sole asset is Gay Star News (“GSN”), an online media platform dedicated to the LGBTQ+ community.

PRINCIPAL RISKS AND UNCERTAINTIES

The following risks are considered by the Board to be the most significant to the business:

Reverse Takeover (RTO) Target Risk

Iconic has identified and announced its target for a proposed RTO, however there is a risk that the RTO will not

complete. The Company continues to work with its advisers to progress the legal and financial due diligence to

enable the RTO to proceed and will provide further updates in due course.

Going Concern Risk

If the proposed RTO is not successful and an alternative target is not found within a short period of time, there

is a risk that further funding will not be available from the Financing Facility with EHGOSF, and that whilst the

on-going running cost of the Group is expected to be low, the Group may not be able to meet its liabilities as

they fall due.

Revenue, Profitability and Funding Risk

Iconic currently only has one asset, GSN, which is not cash-generative and otherwise currently generates no

revenues including from consultancy. The Company has therefore been reliant upon the Financing Facility with

EHGOSF for its main source of working capital.

The Financing Facility is subject to a number of conditions (“Conditions”) including in particular:

x The shares of Iconic trade on the Main Market of the London Stock Exchange;

x The closing market price of the Shares for each of the ten consecutive trading days falling

immediately prior to the relevant closing date must be at least higher than 150% of the nominal value

of Iconic's shares;

x The average daily value traded of Iconic's shares (excluding 5% of the data points from the top and

excluding 5% of the data points from the bottom of the data set) for the 20 trading days immediately

prior to the applicable closing date must be at least £10,000;

x From the fifth drawdown tranche onwards, Iconic having published a Prospectus;

x No binding commitment has been entered into by Iconic pursuant to which a change of control in

Iconic would occur;

x No occurrence that constitutes an event of default having occurred and is continuing;

![](data:image/png;base64,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)

ICONIC LABS PLC

STRATEGIC REPORT (Continued)

Page 4

x The Board having the required authority;

(1) For the allotment and issue of at least 200% of such number of Shares as would be required upon

conversion of all outstanding Notes together with the Notes to be issued pursuant to the relevant

drawdown notice calculated by dividing the aggregate principal amount of all such Notes by the

Closing VWAP as of the date of such drawdown notice; and

(2) To deviate from the Shareholders’ pre-emption and/or preferential subscription right (as

applicable) with respect to such number of Shares; and

x No payment is due by the Company to EHGOSF (or any of its Affiliates) and no delivery of Shares (or

certificates evidencing such Shares) resulting from a conversion of Notes or exercise of any Warrants

by EHGOSF (or any of its Affiliates) is outstanding.

The Company has secured short-term funding from EHGOSF and the seller of ITSFL to allow it to pursue the

RTO which it is using to pay its low running costs and advisers to progress the legal and financial due diligence.

In the event that the RTO is not successful, it is possible that some of these conditions will not be met. As a

result, if any such condition is not met, the Company may not be in a position to further drawdown on the

Financing Facility. Although the Directors would endeavour to pursue certain options to mitigate the

consequence of such breach there is no certainty that any such options could be achieved either in part or at all.

In such an event the Company would need to wind down its operations, realise any assets and may enter

administration, if and to the extent there are creditors of the Company who cannot be paid. In such an event,

the Company would no longer manage the affairs of the Company or the realisation of its assets. As a result of

either winding down the business or entering into administration, the Ordinary Shares would be cancelled from

the Official List and Shareholders may receive little or no value for their Ordinary Shares.

Dilution and Pricing Risk

If EHGOSF exercises its full rights under the Financing Facility for conversion of Loan Notes and Warrants into

Shares, this could result in a significant holding in the Company by EHGOSF. However, EHGOSF’s strategy is

generally to sell shares in the market as soon as practicable following the exercise of such rights and in any event

under the Financing Facility, inter alia, EHGOSF cannot hold more than 29.9% of the Company. Accordingly, there

is a risk that should the Company seek to drawdown under the Loan Notes and EHGOSF thereafter exercise and

sell Shares in significant amounts over a lengthy period, this could have a material negative impact on the price

of the Shares.

Potential Unrecorded Legacy Liabilities

As evidenced by the administration and disputes involving various key parties, there were significant legacy

issues that predated management’s arrival. Following the exit from administration and the entering into of

confidential settlement agreements with various parties, the Directors consider that it is unlikely that there are

any material unknown liabilities of Iconic, however there is the potential for unknown creditors to emerge which

would increase the liabilities of the Company.

Financial Risk Management

The Board monitors the internal risk management function across Iconic and advises on all relevant risk issues.

There is regular communication with internal departments, external advisors and regulators. Iconic’s policies on

financial instruments and the risks pertaining to those instruments are set out in the accounting policies in note

1 of the financial statements.

![](data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAA/4AAAYSCAIAAAAOQKfEAAAACXBIWXMAABYlAAAWJQFJUiTwAAAbPUlEQVR42uzawW2EMBCGURxRAkeqsUTVSK7GR3qYPeSSHFcCyXje64AfpP00SYmIBQAAmN2PCQAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQBA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwCA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQBA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAOCv1QQ3Omo1AgAAozlbW5alRIQtAABgev7hBwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQBA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwCA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAED6mwAAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQBA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwCA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQBA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwCA9AcAAKQ/AAAg/QEAgPGtJnjCUasR+MrZmhEAgEe5+gMAQAolIqwAAADTc/UHAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AACD9AQAA6Q8AALzNaoLb9d6NAADAaFz9AQAgBVf/p2zblvPBr+vK/PjeKck/Fd+Jtw9+VkZe3tUfAABSkP4AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAA0t8EAAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAJD+AACA9AcAAKQ/AADwBiUirHCv3rsRAAAYjas/AACksJrgIfu+53zw3z96pH1875Tkn4rvxNsHPysjL+/qDwAAKUh/AACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AACD9AQCAaZWIsMK9eu9GAABgNK7+AACQgqs/AACk4OoPAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAA/ltN8ISjViPAlM7WjADAS7n6AwBACiUirAAAANNz9QcAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQBA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwCA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AACQ/iYAAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAA0t8EAAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAACkPwAAIP0BAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAABIfwAAQPoDAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAQPqbAAAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACQ/gAAgPQHAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AAAg/QEAAOkPAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AABA+gMAANIfAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AACA9AcAAKQ/AABIfwAAQPoDAADSHwAAkP4AAID0BwAApD8AACD9AQAA6Q8AAEh/AACQ/gAAgPQHAACkPwAAIP0BAADpDwAASH8AAED6AwAA0h8AAJD+AAAg/QEAAOkPAABIfwAAQPoDAADSHwAAkP4AAMCn3To4AQCEgSB4DysLWLWQ2mwiD5GZEva11h8AALD+AACA9QcAAOsPAABYfwAAwPoDAADWHwAAsP4AAID1BwAArD8AAGD9AQAA6w8AANYfAACw/gAAgPUHAACsPwAAYP0BAADrDwAAWH8AAMD6AwAA1h8AAKw/AABg/QEAAOsPAABYfwAAwPoDAADWHwAAsP4AAID1BwAA6w8AAFh/AADA+gMAANYfAACw/gAAgPUHAACsPwAAYP0BAADrDwAA1h8AALD+AACA9QcAAKw/AABg/QEAAOsPAABYfwAAwPoDAADWHwAArD8AAGD9AQAA6w8AAFh/AADA+gMAANYfAACw/gAAgPUHAACsPwAAWH8AAMD6AwAA1h8AALD+AACA9QcAAKw/AABg/QEAAOsPAABYfwAAsP4AAID1BwAArD8AAGD9AQAA6w8AAFh/AADA+gMAANYfAACw/gAAYP0BAADrDwAAWH8AAMD6AwAA1h8AALD+AACA9QcAAKw/AABg/QEAwPoDAADWHwAAsP4AAID1BwAArD8AAGD9AQAA6w8AAFh/AADA+gMAgPUHAACsPwAAYP0BAADrDwAAWH8AAMD6AwAA1h8AALD+AACA9QcAAOsPAABYfwAAwPoDAADWHwAAsP4AAID1BwAArD8AAGD9AQAA6w8AANYfAACw/gAAgPUHAACsPwAAYP0BAADrDwAAWH8AAMD6AwCA9QcAAKw/AABg/QEAAOsPAABYfwAAwPoDAADWHwAAsP4AAID1BwAA6w8AAFh/AADA+gMAANYfAACw/gAAgPUHAACsPwAAYP0BAADrDwAA1h8AALD+AACA9QcAAKw/AABg/QEAAOsPAABYfwAAwPoDAADWHwAArD8AAGD9AQAA6w8AAFh/AADA+gMAANYfAACw/gAAgPUHAACsPwAAWH8AAMD6AwAA1h8AALD+AACA9QcAAKw/AABg/QEAAOsPAABYfwAAsP4AAID1BwAArD8AAGD9AQAA6w8AAFh/AADA+gMAANYfAACw/gAAYP0BAADrDwAAWH8AAMD6AwAA1h8AALD+AACA9QcAAKw/AABg/QEAwPoDAABfWRIM2lUiAADwmtOd5ALCTVkbWD1FkgAAAABJRU5ErkJggg==)

ICONIC LABS PLC

STRATEGIC REPORT (Continued)

Page 5

Key Performance Indicators

The business is currently focused on the areas of cash management and operating results.

Iconic has identified the following key performance indicators which the Directors will use to measure success

against the business plan following the reverse takeover:

x Gross revenue growth

x EBITDA growth

x Market value

BOARD COMPOSITION

As at 30 June 2024, the Board was comprised as follows:

Number of

board members

Percentage of the

board

Number of senior

positions on the

board (CEO, CFO,

SID and Chair)

Number in executive

management

Percentage

of executive

management

Men

3

100%

100%

1

100%

FUTURE DEVELOPMENT AND STRATEGY

Company Strategy

As set in the August 2023 Prospectus, the Company had intended to resume its historical revenue-generating

offering by identifying companies in the online media, artificial intelligence, and big data gathering, processing

and analysis sectors with which it could enter into advisory services contracts. At the time, it was thought that

such advisory services could provide the Company with short-term revenues and news flow while it continued

to search for a suitable acquisition target.

However, given the limited number of personnel working with the Company, the time commitment needed to

properly provide advisory services to prospective clients, and current unfavourable market conditions, the

Company decided that this short-term strategy was no longer viable. As such it decided to cease this strategy in

favour of focusing all of its time, resources, and energy on acquiring a suitable company through an RTO to

generate long-term growth and value for its shareholders.

Going Concern

The Board’s assessment of going concern and the key considerations are set out in our Corporate Governance

Report.

Capital Structure

Details of the Ordinary Shares of the Company are shown in note 11. On 13 February 2024 the Company’s

Ordinary Shares of £0.1 were subdivided into Ordinary Shares of £0.0001 each and Deferred Shares of £0.999

each. The Company also has a class of Deferred Shares of £0.00249 per share. No shares are entitled to a fixed

income. Each holder of Ordinary Shares is entitled to receive Iconic’s Annual Report and audited financial

statements, to attend and speak or appoint proxies and to exercise voting rights at Iconic’s general meetings.

The Company’s Articles of Association (the “Articles”) do not have any specific restrictions on the transfer of

shares or restrictions on voting rights, and there are no limitations on holding such shares. Other than the

obligations contained in the Financing Facility, the Settlement Deed, and the CVA, the Directors are not aware

of any agreement between Iconic shareholders that may result in restrictions on the transfer of securities or on

voting rights.

![](data:image/png;base64,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)

ICONIC LABS PLC

STRATEGIC REPORT (Continued)

Page 6

Capital Structure (Continued)

No person has any special rights of control over Iconic’s share capital and all issued shares are fully paid.

The appointment and replacement of Directors and the powers of the Directors are governed by the Articles,

the Quoted Companies Alliance Corporate Governance Code, the Companies Act 2006 and related legislation.

The powers of the Directors are described in the Corporate Governance Report on pages 8-13.

Environmental Issues

As far as the Directors are aware, Iconic’s business activities do not cause a direct and disproportionate adverse

effect on the environment.

Employee Matters

As of 30 June 2024, and continuing through the fourth quarter of 2024, Iconic did/does not have any employees

and its management is being conducted primarily by John Farquharson. Therefore, the Directors believe that

this information is not relevant for the year ended 30 June 2024 and have not disclosed any information to that

effect.

Social, Community and Human Rights Issues

Iconic seeks to achieve the highest ethical standards and behaviours in conducting its business, with integrity,

openness, diversity and inclusiveness being a priority.

Section 172 Statement

Section 172 of the Companies Act 2006 requires directors to take into consideration the interests of stakeholders

and other matters in their decision making. The Directors continue to have regard to the interests of Iconic’s

personnel and other stakeholders, the impact of its activities on the community, the environment and its

reputation for good business conduct, when making decisions. In this context, acting in good faith and fairly, the

directors consider what is most likely to promote the success of Iconic for its members in the long term. We

explain in this annual report, and below, how the board engages with stakeholders.

Relations with key stakeholders such as employees, shareholders and suppliers are considered in more detail on

page 12.

The Directors are aware of their responsibilities to promote the success of Iconic in accordance with section 172

of the Companies Act 2006. To ensure Iconic was operating in line with good corporate practice, all Directors

received refresher training on the scope and application of section 172 in writing. This encouraged the Board to

reflect on how Iconic engages with its stakeholders and opportunities for enhancement in the future. A section

172 notice has been included with the Board papers since this date. As required, Iconic’s Company Secretary will

provide support to the Board to help ensure that sufficient consideration is given to issues relating to the matters

set out in s172(1)(a)-(f).

The Board regularly reviews Iconic’s principal stakeholders and how It engages with them. This is achieved

through information provided by management and by direct engagement with stakeholders themselves. We

aim to work responsibly with our stakeholders, including suppliers. The Board has recently reviewed its anti-

corruption and anti-bribery, equal opportunities and whistleblowing policies.

The key events and Board decisions made in the year are set out below:

8 August 2023 - Publication of Prospectus.

25 August 2023 - AGM held and Ordinary Shares Consolidated.

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)

ICONIC LABS PLC

STRATEGIC REPORT (Continued)

Page 7

Section 172 Statement (Continued)

15 September 2023 – 83,256 Ordinary Shares issued to all creditors under the CVA.

12 October 2023 – Documents terminating CVA filed with and accepted by Companies House.

13 February 2024 - AGM held and Ordinary Shares sub-divided and converted.

29 February 2024 – Suspension of trading in the shares and RNS confirmation that Iconic was in discussions

regarding a potential acquisition.

John Farquharson

Director

Date: 30 October 2024

![](data:image/png;base64,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)

ICONIC LABS PLC

CORPORATE GOVERNANCE REPORT

Page 8

As Interim Chief Executive Officer of the Company, it is my responsibility to work with my fellow Board members

to ensure that the Company embraces the highest standards of corporate governance and to manage the Board

in the best interests of our many stakeholders. The Board shares my belief that practising solid corporate

governance is essential for building a successful and sustainable business, and our commitment to good

corporate governance has allowed us to build a healthy corporate culture throughout the organisation.

The Company adopts the Quoted Companies Alliance Corporate Governance Code (2018) (the “QCA Code

2018”), which it believes to be the most appropriate governance code for Iconic. We report our compliance with

the QCA Code in this Annual Report.

As noted in the Strategic Report, the Company had intended to resume its historical revenue-generating offering

by identifying companies in the online media, artificial intelligence, and big data gathering, processing and

analysis sectors with which it could enter into advisory services contracts.  The Directors however decided to

cease this strategy in favour of focusing all of its time, resources, and energy on acquiring a suitable company

through an RTO to generate long-term growth and value for its shareholders.

The Board upholds its responsibility to govern the Company in the best interests of all its stakeholders. The Board

takes charge of formulating, reviewing and approving the Company’s strategy, financial activities and operational

performance. There are Audit and Remuneration Committees established to provide additional review and

scrutiny in their respective areas. The Committees report back to the Board, following each committee meeting

and make appropriate recommendations with regard to the matters under their purview.

The Board is committed to instilling a culture across the Company, delivering strong values and behaviours.

Iconic recognises all sectors of stakeholders in delivering our strategy and we are mindful of our responsibilities

and duties to our stakeholders. The importance of engaging with our shareholders continues, and the Board

strives to ensure that there are opportunities for investors to engage with the Board.

QCA CODE 2018– APPLICATION, PRINCIPLES AND DISCLOSURE REQUIREMENTS

In October 2019, Iconic formally adopted the QCA Code which is an enabling, principles-based, corporate

governance code for companies focused on growth. Iconic is committed to maintaining and promoting robust

corporate governance structures and processes to support its long-term success. Iconic intends to adopt the new

QCA Code 2023 but as at the date of this Annual Report compliance is based on the ten principles of the QCA

Code 2018, which are listed below together with a short explanation of how the Company applies each of the

principles and reasons for any non-compliance.

Principle 1: Establish a strategy and business model which promote long-term value for shareholders

Details on the strategy and business model are included in the Strategic Report on pages 3-7.

Principle 2: Seek to understand and meet shareholder needs and expectations

Relationship with shareholders

Primary responsibility for effective communication with shareholders lies with the Interim Chief Executive

Officer, John Farquharson, but all Directors are available to meet with shareholders throughout the year. Mr.

Farquharson has been active in meeting with and preparing presentations for investors. Iconic endeavours to

answer all queries raised by shareholders promptly.

![](data:image/png;base64,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ICONIC LABS PLC

CORPORATE GOVERNANCE REPORT (Continued)

Page 9

Principle 3: Take into account wider stakeholder and social responsibilities and their implication for long-term

success

Environmental Issues

As far as the Directors are aware, Iconic’s business activities do not cause a direct and disproportionate adverse

effect on the environment.

Employee Matters

As of 30 June 2024, Iconic does not have any employees and its management is solely being conducted by the

Executive and Non-Executive Directors.

Social, community and human rights issues

Iconic seeks to achieve the highest ethical standards and behaviours in conducting its business, with integrity,

openness, diversity and inclusiveness being a priority.

We have adopted a formal equal opportunities policy which is contained in our employee handbook. The aim of

the policy is to ensure no job applicant, employee or worker is discriminated against either directly or indirectly

on the grounds of race, sex, disability, sexual orientation, gender reassignment; marriage or civil partnership;

pregnancy or maternity; religion or belief or age.

Principle 4: Embed effective risk management, considering both opportunities and threats, throughout the

organisation

Details on the strategy and business model are included in the Strategic Report on pages 3-7.

Principle 5: Maintain the board as a well-functioning, balanced team led by the interim CEO

Details of the current Directors are set out on page 10-11.

As of 30 June 2024, the Board comprised the following:

- John Farquharson, Interim Chief Executive Officer

-Victor Humberdot

- Béla Lendvai-Lintner

How the Board functions

The Board is collectively responsible for Iconic’s long-term success. The Board provides entrepreneurial

leadership for Iconic within a framework of prudent and effective controls, enabling risk to be assessed and

managed. The Board considers the management team’s proposals for strategy and, following a consideration of

those proposals, determines Iconic’s strategy and ensures that the necessary resources are in place for

management to execute that strategy. Further details on Iconic’s business model and strategy can be found in

the Strategic Report, above.

An important part of the Board’s role is the review of management performance. Iconic’s process for evaluating

the effectiveness of the Board and Directors’ performance will comprise an annual internal review of Executive

and Non-Executive Directors’ performance and a triennial review of Board performance by external providers.

The results of such reviews will be used to determine whether any alterations are needed or whether any

additional training would be beneficial.

![](data:image/png;base64,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)

ICONIC LABS PLC

CORPORATE GOVERNANCE REPORT (Continued)

Page 10

Responsibility and delegation

The Board has specifically reserved a number of matters for its consideration and approval. These include:

x Overall leadership of Iconic and setting Iconic’s values and standards

x Approval of Iconic’s long-term objectives and commercial strategy

x Approval of the annual operating and capital expenditure budgets and any changes to them

x Major investments or capital projects

x The extension of Iconic’s activities into any new business or geographic areas

x Any decision to cease any material operations

x Changes in Iconic’s capital structure or management and control structure

x Approval of the annual report and accounts and preliminary and half-yearly financial statements

x Approval of treasury policies, including foreign currency exposures and use of financial derivatives

x Ensuring the maintenance of a sound system of internal control and risk management

x The entering into of agreements that are not in the ordinary course of business or material strategically or

by reason of their size

x Changes to the size, composition or structure of the Board and its committees

Board balance

The Board comprises individuals with wide business experience gained in various industry sectors related to

Iconic’s business and the Board intends to ensure that the balance of the Directors reflects the changing needs

of that business. The Board considers that it is of a size and has the balance of skills, knowledge, experience and

independence that is appropriate for Iconic’s business. While not having a specific policy regarding the

constitution and balance of the Board, potential new Directors are considered on their own merits concerning

their skills, knowledge, experience and credentials, regardless of gender, race, ethnicity, or national background.

The QCA Code 2018 requires that the boards have an appropriate balance between Executive and Non-Executive

Directors. Given the Board comprises one Executive Director and two Non-Executive Directors it is felt that given

the current size of the Board and the Company, there is a strong enough presence of independent judgement.

Principle 6: Ensure that between them the Directors have the necessary up-to-date experience, skills and

capabilities

Board Member Biographies

John Farquharson (Appointed 9 July 2024)

John has held senior finance and governance roles within the Tavistock Group of companies since 2010. He

graduated from the University of Aberdeen in 1999 with an MA in Accountancy and German following which he

worked at PwC from 1999-2004 where he qualified as a chartered accountant in 2002. He is a member of the

Institute of Chartered Accountants of Scotland (ICAS) and the Chartered Governance Institute UK and Ireland

and has treasury and investment management qualifications.

Victor Humberdot (Appointed 3 January 2024)

Victor is an experienced investment banker. Having started his career at BBVA and Kepler Cheuvreux, he then

joined the investment fund of Société Générale, Private Banking in Luxembourg before, most recently, being

responsible for the external growth of an investment holding company in the construction sector before being

M&A Manager at Exponens Corporate Finance and more recently a Vice President at the corporate finance

boutique, DDA & Company in Paris. He is currently Founder and CEO of HUVI Capital, his own investment holding.

Victor holds a master’s degree in international finance from Neoma Business School and a master’s in physics

and mechanical engineering from Le Havre Normandy University.

![](data:image/png;base64,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)

ICONIC LABS PLC

CORPORATE GOVERNANCE REPORT (Continued)

Page 11

Béla Lendvai-Lintner (Appointed 3 January 2024)

Béla has spent most of his career in private equity, experienced in a wide range of industries. Currently Bela is

focused on post-transaction operational integration. Bela most recently was a Partner at mid-market buy-out

focused private equity firm ARX Equity Partners for more than 15-years. ARX Equity Partners is an independent

(since 2007) Central Europe-focused mid-market private equity firm, focused on later stage growth-oriented

investments, such as industry consolidation transactions across many sectors. Prime examples are out-patient

clinic operator, DC Bled (www.dc-bled.si) where ARX completed 4 add-ons, merged two facilities and increased

capacity, full-Slovenia coverage, and the more recent business services roll-up in Hungary - WTS Klient

(www.wtsklient.hu) made its first add-on in August 2023 and subsequent merger of Finacont (140 FTEs / 300+

clients).

Principle 7: Evaluate Board performance based on clear and relevant objectives, seeking continuous

improvement

The Board holds regular meetings and on a quarterly basis conducts a review of Company performance based

both on the quantitative metrics discussed in the Strategic Report and also longer term strategic targets such as

acquisitions or capital sourcing.

Where there is an opportunity, the Board will add members who possess key experience and expertise in

particular areas that align with the Company’s long-term ambitions.

Principle 8: Promote a corporate structure that is based on ethical values and behaviours

Social, community and human rights issues

Iconic seeks to achieve the highest ethical standards and behaviours in conducting its business, with integrity,

openness, diversity and inclusiveness being priorities from the Board to senior management and throughout the

workforce.

We have adopted a formal equal opportunities policy which is contained in our employee handbook. The aim of

the policy is to ensure no job applicant, employee or worker is discriminated against either directly or indirectly

on the grounds of race, sex, disability, sexual orientation, gender reassignment; marriage or civil partnership;

pregnancy or maternity; religion or belief or age.

In presenting this report, and having monitored, reviewed or approved recent shareholder communications, the

Board is confident that it has presented a balanced and understandable assessment of the Iconic’s position and

prospects.

Principle 9: Maintain governance structures and processes that are fit for purpose and support good decision-

making by the Board

Remuneration Committee

At 30 June 2024, the Remuneration Committee is comprised of Béla Lendvai-Lintner and Victor Humberdot.

There are no employees as of that date and continuing through the fourth quarter of 2024. Since the change of

management in March 2021 until the fourth quarter of 2024, there have been no Remuneration Committee

meetings as a result of the administration and restructuring of the Company.

The Remuneration Committee’s role is to set Iconic’s remuneration policy, determine the remuneration

packages of the executive Directors and set the targets for performance-related pay.

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ICONIC LABS PLC

CORPORATE GOVERNANCE REPORT (Continued)

Page 12

The Remuneration Committee shall:

x Discuss and approve the salaries and benefits for the key employees and executives.

x Discuss and agree deferral of certain parts of the salaries and benefits.

x Discuss a proposed employee option scheme which it intends to implement in the near future.

Audit Committee

At 30 June 2024, the Audit Committee is comprised of Victor Humberdot and Béla Lendvai-Lintner. Iconic’s

accounting is provided by Azets Limited and its audits are conducted by Royce Peeling Green Limited. Since the

change of management in March 2021 until the fourth quarter of 2024, there has only been one Audit Committee

meeting that was held to approve the 2021 and 2022 Audited Annual Report & Accounts.

The Audit Committee shall:

x Monitor the integrity of the financial statements and any formal announcements relating to financial

performance.

x Review internal financial controls and risk management systems.

x Make recommendations to the Board in relation to the appointment, re-appointment and removal of

auditors, including approving the remuneration and terms of engagement of the auditor.

x Review the auditor’s independence and objectivity.

x Develop and implement the non-audit services policy.

Board and Committee Responsibility and Activity

The Terms of Reference for each of the committees are available on request.

Directors hold meetings online. Directors are provided with comprehensive background information for each

meeting and all Directors have been able to participate fully and on an informed basis in the Board decisions.

Any specific actions arising during meetings are agreed by the Board and followed up and reviewed at subsequent

Board meetings to ensure their completion.

Principle 10: Communicate how the company is governed and is performing by maintaining a dialogue with

shareholders and other relevant stakeholders.

Relationship with shareholders

Up until the time that Iconic entered administration, the Chief Executive Officer was active in meeting with and

preparing presentations for investors. Since the administration began, Iconic, through the office of the Joint

Administrators, has endeavoured to answer all queries raised by shareholders promptly.

Investor relations (IR) and communications

Whenever required, the Executive Directors communicate with shareholders to gauge sentiment and speak to

Iconic’s Financial Adviser to consult on particular governance issues.

In the period since Iconic’s admission, regulatory announcements have been released informing the market of

certain matters. Copies of these announcements, together with other IR information and documents, are

available on Iconic’s website www.iconiclabs.co.uk.

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)

ICONIC LABS PLC

CORPORATE GOVERNANCE REPORT (Continued)

Page 13

Insurance and indemnity

In accordance with Article 54 of the Articles of Association, Iconic’s Directors and officers are entitled to an

indemnity from Iconic against liabilities incurred by them in the actual or purported exercise of their duties, or

exercise of their powers including liability incurred in defending any proceedings (whether civil or criminal) which

relate to anything done or omitted to be done and in which judgment is given in his favour, or in which he is

acquitted, or which are otherwise disposed of.

Going Concern Assessment

The Group is not engaged in any trading activity, and the directors have no intentions or plans to recommence

trade. As at year-end, the Group is in a net liability position of £2,718,043 (restated 2023: £3,849,897) and total

assets are £139,340 (2023: £50,244). To manage its operational costs and settle liabilities as they become due,

the Group has been reliant upon a Financing Facility with EHGOSF, and this financing facility is its main source of

working capital.

The Directors have identified and announced a target for a proposed Reverse Takeover transaction, however

there is a risk that the transaction may not complete. If the proposed Reverse Takeover transaction is not

successful and an alternative target is not found within a short period of time, there is a risk that further funding

will not be available from the Financing Facility with EHGOSF, and that whilst the on-going running costs of the

Group are expected to be low, the Group may not be able to meet its liabilities as they fall due.

The Group has secured short-term funding through EHGOSF and the seller of ITSFL to allow it to pursue the RTO

which it is using to pay its low running costs and advisers to progress the legal and financial due diligence.

In the event that the RTO is not successful, it is possible that some of the funding conditions of the Financing

Facility will not be met. As a result, if any such funding conditions are not met, the Group may not be in a position

to further drawdown on the Financing Facility. Although the Directors would endeavor to pursue certain options

to mitigate the consequence of such breach there is no certainty that any such options could be achieved either

in part or at all. In such an event the Group would need to wind down its operations, realise any assets and may

enter administration, if and to the extent there are creditors of the Company who cannot be paid. In such an

event, the Group would no longer manage its affairs or the realisation of its assets. As a result of either winding

down the business or entering into administration, the Ordinary Shares would be cancelled from the Official List

and Shareholders may receive little or no value for their Ordinary Shares.

On this basis, there is a material uncertainty related to events or conditions that may cast significant doubt on

the Group’s ability to continue as a going concern and that it may therefore be unable to realise its assets and

discharge its liabilities in the normal course of business. The Directors believe it remains appropriate to prepare

the financial statements on a going concern basis

John Farquharson

Director

Date: 30 October 2024

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)

ICONIC LABS PLC

REMUNERATION COMMITTEE REPORT

Page 14

Remuneration Committee

Once Iconic resumes trading and operations are stabilised, a Remuneration Committee will be held to assist the

Board in determining its responsibilities in relation to remuneration, including making recommendations to the

Board on employment contracts for key personnel, bonus compensation to those who restructured the

Company, exited administration, resolved all outstanding legal disputes, and relisted the Company, and a policy

on executive remuneration, setting the over-arching principles, parameters and governance framework of the

Iconic's remuneration policy and determining the individual remuneration and benefits package of each of the

Executive Directors.

The Remuneration Committee shall ensure compliance with the QCA Code 2018 in relation to remuneration

wherever possible.

Remuneration Policy

The main aim of Iconic's remuneration policy shall be to align the interests of Executive and Non-Executive

Directors with Iconic's business strategy and the long-term creation of shareholder value. The policy shall aim to

pay the Directors competitively, whilst considering the remuneration practices of other international companies

of similar size and scope, the current economic climate, the regulatory and governance framework,

remuneration around these companies and the need to ensure that the Directors are remunerated

appropriately, whilst ensuring that Iconic pays no more than is necessary.

The Remuneration Committee shall have no formal method of involving employees in the setting of Directors'

remuneration, however the members of the Remuneration Committee shall have access to employees both in

formal and informal settings and take into account the level of employee remuneration when setting Directors'

remuneration.

Shareholders’ views on Directors' remuneration shall be taken into account when setting the Remuneration

Policy.

Compensation

Up to 30 June 2024, all management services for the Company, including, but not limited to, financial and

corporate restructuring, negotiations with the joint administrators and creditors, implementation of the CVA,

settlement of all outstanding disputes, negotiation with EHGOSF for financing, corporate governance,

administration and accounting, Shareholder meetings, identification of potential acquisitions, strategic

development, relations with the FCA and LSE, and communications to the marketplace are being rendered to

Iconic pursuant to a Management Services Agreement (the “MSA”) with Ott Ventures, s.r.o. and Ott Ventures

USA Inc. (the “Ott Companies”) for a total of £15,000 per month. Bradley Taylor was connected to Ott Ventures

USA by virtue of being a Director of the Company and having an indirect shareholding through a company in

which he has a beneficial interest. During the year, the Ott Companies charged £155,428.

At the year end, and as part of the agreed change in management structure going forward, the Ott Companies

agreed to write off £638,628 of the £688,628 that was outstanding to them. The remaining £50,000 was settled

post year end.

Directors Remuneration

Director’s fees totalling £53,000 have been charged.

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Ag6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBg31DPFGxbWmqqSQAAYA+Uk5sr6HdgpmBnfUW0RwEAOyUqkhtOuQEAgFpM0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAPZF9UzBdqWlppoE7FEAgKCvrXJyc00CO7Hm7VEAwE6JiuSGU24AAKAWE/QAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAA35B6pmC70lJTTQL2KABA0NdWObm5JoGdWPP2KABgp0RFcsMpNwAAUIsJegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAA7Kh6pmC70lJTTQL2KABgz1SnrKzMLAAAQC3llBsAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBv/crKyszzDAAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAgP9Qp6yszCxsg/lhJ/xvVqeOSQAABP0eHf01KTbD9tlhAAC7jlNuAABA0AMAAIIedqeS1R+ZBABA0ENt1b3zD887/0fmAQAQ9FD7LH13eUQUzCswFQCAoKeyCTlZ+Xl55mFPlj3lJZMAAAh6qpdx4x8u7dd/aUHRTl9y+h3pu2Kx+6Di0hVf43va/2RmmjoAQNDv/Y7q3DEisnMm1HB84afL7rvzvu0Om/PR/HFPjHn8pT/u5s3Z+/7BYd2G0qkvTNvRV43PyXr4Dxl2bwBA0O/9WhzZeIfGj779mTHTxm132JJ3P4qIiaPH7+bNuX7g8J/cMGiXvsXSgqJ2bdpOyMnaPVv03BPPrSot2dFXJfMPACDo936b1+4XEes2lNZk8PT8/LFZz0REuzZt//jgI9sYuWLBoojY+MXGXb3+F/fv365N23lTFyZ3mzZqsfn9NSuWfbbr3jH514w3pk7fPR/Qxi82fI1XrVhQaN8GAAT9vjGth/w7Ig4+sFFNBs+dNSsivnNExyt+fFXnLp23O/7U48/a1es/d1Ze3daN2518ZHI3OZi9evPqXfeOyRntk/4xe/d8QNOWbXmjFp1a2V0BgFqtninYFZIj9N/5dpuaDJ6Qk9Wpc6cJTz2T3C0rK9v2+DP7nL5LV764tCQi+nY+v9IXksbfrr/r3nThyyURceymlrvnA5qfNfOEDl3fKpzdLeWkHXph00Yt7N4AwB7FEfpd4rhOx0XEh58UbXfkug2lywuKzuhxZk0WO7d4fkT0ubT3Ll35F1+dHBHN2zbZnTNW8NG0iOiekrLb3vGUs38QER271DTo5xa/HRF9Lj3H7g0ACPq9X8dzvlvDkRkjH4iInpefV5PBM/PmRo3P5PnaNr+/OiI6fuf4So/P/njx3vHpTM/Pj4jCpcsi4rT/6lrDV83Me2s3TD4AgKDfI3y/cacajnz6z4/2HdCvw6Fta5baa5oc02xXr/zalesj4qyLvjqxp27rxhFR9ub6Xf3W9fc/cDd8OtmvTIiIjXUPjIj2h7Wr4avezX0rIpoc09zuDQAI+tqkrAaqDtu/wX4Rseyz5dse9uy4CRHRq3fvqsNKPlg5bMjQYUOGTs+dkTy+YdP6iOjTtU/VpY1+8dm0c3q/NP7F5O6iJUvatWn7s5uHlg+bPC03Wdr82e9sdxMmFebUbXZQxWcv6943IvLnzJg4ccItd/922JChv7zm2nEvjf1s/eoaTsi2h63+56fJbJ921hnVDtuwaf2k7OwFBfOrXU6yvfPeeqv8kcfHPjVsyNC7b//de4sXV11a/vgFEdGqWYNmTY7Y2rrlTJ5y/mkXl09+WVnZrNdeP6Rhkz4nnfv1thQAQNB/M+rUQLXDmhzTbNZLs7Y97LYR19bfv/5pJ3Z/ZMKjV503vOKwOx777aTs7EnZ2Rvrfl6nTp2/jpl8+z0jI6Jw6YL7MzPvz8xcvWFNMv7/8vNH/vKWZQsXfvj+B8kjhxzQKCKOOrh5srS3584besWATz5ZNfO92f1/fNG2N2FO4cKVc5adfULP/9iWww6KiLF/ee729JH119Zt177dyX16pF934+W9f1ppOSuLVpcvbf7cd8ofvz8z8/knx27tTT/IXxMRTRu16Ni+fbXr9uhDfxw2ZOjAfj+vduWT7S0uLk7u5v7t1btvGNms8RF/mfHiA/c+VHVpyz8tiIgFry/8Ub+eW/tMR9yR/s77s4/uenSyUfdnZq79fHWTtk1G//nx+zMzp7w+ZRsffbWbAAAg6GuZtFNSV5WWlF/KvarXpuVExOCbRqzbUPrAr/4wdf7E8qfeyJ0+ZfTEiGjVqc0ZPdKe/euz16UPHvfEmIjIz8sflZE5KiOz7xUXJxeGHz3p+eRV5RdgObxV8/jybO+NX2wYdMXglG4p9z2WceMlN2/8YmPxNn9QafGMBRHRvtex5Y/kTMxNfu8ppVvKX6ZPuPnO9GHDh29seUBEvPv3+RVfOyEn67r0q9eu/Dy5e+GFfQYO+Xlye1RG5q13pG/trdcctDIiuvbpUmlpPbr0yJmYm9yOiFWlJdVe2j/Z3kR+Xt5Nv7j11FNOu/nO9H49+mZv/Zeq3iqc3e3s6v+8eEJO1j8/Wh0Rny/fkJ+X13/oBaMyMiNieUFRMvlDf3r1kFuv2aUX5gcAEPTfsJaNmkfE62+/srUB+Xl5ETHkigFTP5hT6beiJs3ITm5MfHFiRJx8VPeXZ+c0bdTiB73SlhQtS/7LGTOledtvPTD+6ST9I+LWO9KT36UqT+qI+N3tv19VWnLfYxktG7W4aMC5ETHv7Xe3sdrJJee7t+sWEV9s3nTNwOFXDxuwvKAoIlK6dWv7rS1Xba9XXCciGrb/jxPKrx84fHbxokOaNSx/ZGr2KxHxwJMPJ3eT7yQRsW5DadWf0Kp4Onv6HenXDxz+4Sfvvzk/Pynpxg0bR8SS9/5RdZ3Lt3fdhtKbrrmtdMNnT/7p6Yg48LtNqw6+Z+S95bdTjz+x6oB1G0rvvu7u5HbP3qfXa9Vw5K13/2rEryNizOT/LZ//B0dmNm/7Lfs5ACDo91rJ8fKt/Vjs0oKiJx958sLel0REq7XfrvRsEr7PjXk+Ocp+dKc27Q9rt6q05KSO36uUnlPuH5/cHpA+ommjFk898kxEfPzJqvIxk7NfvmzoVS2/PHg/b9H8s7tv/zL2LY48ZPSk50/udUp2TlbfAf0G3nVdpQHJb9Z+cfhXf8OaHETv2b171aW9N6uwTfMOFWfjzK5n3XvvPVOm5iR3j2t7bMXxQ269ZtwTY6697eaIOOjgBnNKFkbEms/XRES79kdUXX759t70i1uKVhTekPmb5O5VPS+bt6jyvyE8/tTDFT+gqkZlZCTfah7NejEiMjIf6p6SsnbNmog4qWMnOzYAIOj3Fadf3CMicsfPqPbZ7JwJETH87uERMbPu0vjySjIRUVi4KCJSuqWkdOu27beY+Fx2ctJL3daN038+uO9/X7CqtOS1aTnlR46nz3x95ep//HrwiPKX1PCqi6MyMkcO/vXajRsH33nTXbfc1euYHhEx56P5lYa1W/LVIerlBcuiwlH2pN0btm9e+Omy7Jyscy4+IyKy/j49It6Z/X5SzJtWb6hY5MklbopLS6aMntjz8j7/Xl0aEb3Tzl+etygZVn//+tWuf7K9/y77V3ZO1gnHdenXo2/y+AEN61UcX1xacv3A4Xdl3FfxA6qkuLRk4nOTIuJ73+2UevyJrTq1mTV2ymvTcj7d9LFdGgAQ9PuWlo1a9Ly8T9GKwmqfnZCT1apTm+TAeeePWkdEh39tuXLla29Oi4gRI27Y7lskJ+1ExJ/ueSQi6rc9LCJem/ZqydtbDoTfdu2dP+x/5gENd+D3gOfNmRcRLzz9Qu+08174/VPX/fhnEXF8l2ObNmrx5viZlQYf3LBx+e0ZM96o+FSyDq0/bzlldFZE9L/qJxHRuvTQiBh22xUR0aZ5h09WrU4Gv7woNyI6nXRCRNz1i8yUbikDrr5yQk5W00Ytju7Ups7BByfDLv/toGrXOXmvabkzIuLcQRdubXuTE2kuOu+CLz+gai5AOe6JMcmXjbPPOTsiel52QUQUzCtYV+hKNQCAoN/3JFeXf/TBxyo9/vacBcsLis5P2/JjUg1aNagYx4WzChq2b965ywnbXX7yF599B/SreCz/gM0Hzlk3PyKKS1cUrSi8pPv5NV/hsa9Nfv2Nv0XEy7NzMh/LqLgOfS49p9KJ/hHRoNWWU26m5+fPmT03It77eMmWyI4PIuLTQ9cnv+KUfHU5qmXb4tKS5QVFXbqe2Or7bZYs3vJLVR++sTgi2nU4sri0ZNK0Mb8acdPU519ZXlB029PVW4gAAA4vSURBVAO/iYiydeuSYTdcPLza1U62N+ulcSee3O3yc/pXO2ZURkZ2Ttb3Tz91zox5ySPVnnLz5qKFEVF///qDhg6OiIO+PMBfuHm5/RkAEPT7nKuHDU7plvK7e++s9PiA9J+dcFyXKwcNSO4e1KJeRBzc4Kuj3R1adNjuwtd8/M+ISOmWMmz4NckjyS+8pl3R99NDN8SXJ+L/oOtpNV/hS87olSztoPWVz2xJzl1ZvuyDijW8uemm5O7cWbMi4tRTTst94dXk2i8b16+NiBULCufOyrty0JXJsJVLP3nqwcfqtm48dtyLm5tuKl2/5Qj934uX1W3duEWTw28afONPL7pqVWnJw6Me6tS5U6/TekVEg/0aRkT5Zlb18uJpyY3zz6z+B3fz8/IeePLhJsc0m/DUM++VLUseLPr4vUrDpi2bPXNyTkQkf1MbETMemhYRXfqcuaxkkf0ZABD0+5z96x7Q8/Lz4ss/GE1kTX5p9eKV5w66sPz07uTcj+TSjVsS//D9Ki3ql3dUPgMnr+jNiEjp1u3/27v74CjKA4DDb5xasTWV6aADdOwdXqYKSW3EkQRTWoGmDkShrdoLiSgCAn4UbceK0GI7doRWQD6kCFjLhxWrrYyhAhYEpOqQ6KhRDB+OksC0QCwqSRQE22z/WOZ6E5FSUKH1eSZ/sHvv7b63JDO/u+xuMhe8Ntbv7pDbseTMgrzX2sdrup55zqmnff4IZr733bYfxpeVfieE8HLdgY+3exR8I4TQ+eTT4sWVS9Z079F92Khh+97f9+iyh7bWN8T3eYz1vbA0/seGLS/PX/5IfIJQ5rkhhNrtGwvOO/vRlVUbajePnzz2jkkTsgs+v/fXPmyeNdXVleXlm2atjRcvv/p7Bx22cNmDrc37h1x7bQhh17YDV9C2ubyh9vkXr//24BBCWenAzG88nt9fW1Y6sOTMgtatTb6fAQBB/2l0Zf9BJ5140oxp02qffzFeM/HHk0IImQs3QwintMvtkNvxhXUHTojPPbn9+j+9kL2R1+saqu57uM2W9/ztzRBC1y8VZtL2oaoFAyr7hxBeyzvwyfdNt91wZNPe0byjzZpUfvK887u/WL0+Xswr6nxC4tRnl78UQli5ZPXGLS9//YJeJSW9QgjzZi+4a8qUutq6eGTP9EVxH385P7mrZef5nc6OFzu275TZeOvWpuZndv/kujEDKvsPHTxkW13DVZeNyLwNOOOUTiGEVU8+0WZKM6ZNGzp4yEkntrtq4ZgQwhnJM0484bMHfTl/XrgkvzB/SL9LQwjr19Zcc+eNlw8rb2jcHP8pgBDCczs2TZr0q3hiqfxkvHLVkytbtzZVDCv3bQwACPpPtdUr1m2raxg+dtTu95riWyI+8siSNhduxiG++qUXQgidCzs37WnauXv7gbZu2XnNLVfHN7jM1q3gnBDC35t3hhCa39hTWT4oPfCqcbeODyF88a0Dp7Znmvjwde/ZM4TwlzUHuX1+SUmvXbv/HfojLrqioXHz1jf++tyGZzrkdrx29HUhhKGjhu5q2bls6dLbZk3oV1kWQvj5lbfG4x+cuTi/MH/O/HsPut+Gxs1FxcXjbh1fU11926wJ4yePzX506KihdbV1fcp679/zjxDCU6ufzkt2mTFt+pwFc397//z49V7zg4NfMnvXlEkhhP6lF5/SLved91qerK0Z8/2bJo6fWFY6cOSQEY+vfXz5suWDevZ757134jNt4vvzvLJh/cghI24YPOY/3msIAOAYizhqra2thx6w4HeLUolk/DVl8p0fHPDEmhXxoy17m+tf35JKJGfPvCeKoqpFy4oKiivS6SiKUonkxb0HZJ6yd9+e+Ck3jLs+lUheccvIzEMrHl6TSiSvHjDicOb2wZfQu/+F55X2iKJozsy52WNWVK0aXjk8s1i9bl0qkezd/8JUIjl96tTM+gd+8+DSxx6Loqhlb3P2+jY2vbnl3K6FTz2zNoqicaN/NvynNx5ibk2N71ak05ljmEokfzF2Qsve5uzXG+/0g4oKiosKive9+/725h1FBcUP/PGBeH3L3uYrbhmZSiS75Z31y0Uz4pV9e1yUSiQr0un8LudmVsYzTCWSK6pW/bf/9QAAHzdB/0kEfZzspX37jB7+odm6ompVHPGtra0V6XS3vLPiiKxIp7c374iiaNbi2dlN2draOmfm3KKC4lQiOXr4jZm6jaLo2e0bL7vk0rsXzzuyoL9j4u2pRPLuxfOy3yTEzulZmL04ecqd3fLOqkins/d++DudNWPmIYq/zdb2/3Pf9KlTLy8vz+7vzOtNJZKvbt580KfH73k2vbklPqpv7Xk7+9HZM+957ZX67HcpAwaWpRLJyu9WZg/b3ryjzfsWQQ8AHCdyosgNtj+C33Lk5OR8hMOeralZdN/vl66syi/Mv3/uw184/XPxQ5f0GfjNb/W6edzNH8dOM8Nqqqsrywe1/8rpv759epsTTqbeNfmHP7r5kz8gRzMsL9mlqLgohFBTXTN/0YKSnr2ObGtzJs576OmFj/9hZfbpUoc5NwCAj4+gPx6D/sOGNda/va1d4/mdzj7eovk4D/oQQofcjtPvnVpUXHw0W1u/uv6rfbocwdwAAAS9oDfsCIc11r/96qaNvfpdcAznBgAg6AW9Yf/DwwAABP2xjHUHgaP9MRP9AICgP86j3wfShgEAHBP+sBQAAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAAPB/LyeKIkfhEBwfPoIfs5wcBwEAEPQAAEBbTrkBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABL1DAAAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAIBPqc8ck72W9unj0AMAwNH7F8pCzUjGxh+KAAAAAElFTkSuQmCC)

ICONIC LABS PLC

REMUNERATION COMMITTEE REPORT (Continued)

Page 15

Recruitment Policy

At present, recruiting is not a priority, but once trading has resumed, and strategic objectives begin to be

implemented, the Remuneration Committee's approach to remuneration with regard to recruiting staff shall be

to pay no more than is necessary to attract candidates of the appropriate calibre and experience needed for the

role. The Remuneration Committee would consider payment of compensation for the forfeiture of variable

awards from previous employers on an individual basis. Iconic would only consider candidates for a Directorship

if they hold the necessary experience and qualities to help Iconic prosper, and in turn generate value for the

shareholders. The table below sets out the principles upon which the Remuneration Committee shall approach

recruitment of new Executive Directors in regard to each element of remuneration.

Remuneration

Type

Purpose

Basic Salary

To provide the basis of a market competitive overall remuneration.

Takes account of the role, skills, experience and contribution of the individual.

Annual Bonus

To incentivise executives to achieve key strategic outcomes and deliver value for the

shareholders.

Exit Payments

When determining any loss of office payment for a departing individual the Remuneration Committee shall

ensure that a consistent approach is adopted so that there is no reward for poor performance and the liabilities

of Iconic are minimised where appropriate.

No amount shall be payable if an Executive Director is dismissed for serious breach of contract, serious

misconduct or under-performance or acts that bring the Executive Directors, or Iconic, into serious disrepute.

The table below sets out the policy on exit payments in relation to each element of remuneration for Executive

Directors:

Remuneration Type

Effect of termination

Basic Salary

Basic salary will be paid up to and including the termination date. Payment in-lieu of

notice may be considered.

Annual Bonus

The executive may still be entitled to an annual bonus should their performance merit,

although this is at the discretion of the Remuneration Committee. In the event of

misconduct, the executive will lose any entitlement to a bonus.

Victor Humberdot

Director

Date: 30 October 2024

![](data:image/png;base64,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)

ICONIC LABS PLC

AUDIT COMMITTEE REPORT

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The Audit Committee considers Iconic’s financial reporting, including accounting policies, and internal

financial controls. It is responsible for ensuring that Iconic’s financial performance is properly monitored and

reported on. The Audit Committee aims to meet at least twice a year, once with the auditors, and is comprised

of Victor Humberdot and Béla Lendvai-Lintner.  Since the change of management in March 2021 until the

fourth quarter of 2024, there has only been one Audit Committee meeting that was held to approve the 2021

and 2022 Audited Annual Reports and Accounts.

Iconic’s accounting is provided by Azets Limited and its audits are conducted by Royce Peeling Green Limited.

Role of the Committee

The Audit Committee determines and examines any matters relating to the financial affairs of the Group

including:

- Monitoring the integrity of the financial statements and any formal announcements relating to financial

performance to ensure that they adequately comply with appropriate accounting policies, practices and

legal requirements;

- Reviewing internal financial controls and risk management systems;

- Making recommendations to the Board in relation to the appointment, re-appointment and removal of

auditors, including approving the remuneration and terms of engagement of the auditor;

- Reviewing the auditor’s independence and objectivity; and

- Developing and implementing the non-audit services policy.

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)

ICONIC LABS PLC

DIRECTOR’S REPORT

Page 17

The Directors present their report together with the audited financial statements of Iconic Labs PLC and its

subsidiaries for the year ended 30 June 2024.

Directors

The Directors who held office during the year and up to the date of signature of the financial statements were

as follows:

John Farquharson – appointed 9 July 2024

Victor Humberdot - appointed 3 January 2024

Béla Lendvai-Lintner - appointed 3 January 2024

David Štýbr – resigned 3 January 2024

Emmanuel Blouin – resigned 3 January 2024

Marija Hrebac – resigned 3 January 2024

Bradley Taylor – resigned 9 July 2024

Matters Covered in the Strategic Report

Future developments and principal risks and uncertainties are included in the Strategic Report.

Results, Share Capital and Dividends

Iconic made a profit in the 2024 financial year of £418,948 (restated 2023 profit of £4,558,623), which is

largely attributable to the writing back of creditor balances. See Note 16 to the financial statements for more

information on the prior period adjustment.

The revenue of the Group in the year was £Nil (2023 - £Nil). Administrative expenses in both years largely

reflect the writing back of creditors balances which are no longer due.

As at 30 June 2024, Iconic held total assets of £139,340 (2022 - £50,244), this is relating to the amounts held

as cash at bank and prepayments. The Company had liabilities of £2,857,383 at the balance sheet date

(restated 2023 - £3,990,141), a decrease of £1,042,758.

The Company's share capital consists of 11,161,483 Ordinary Shares of £0.0001 each, 11,161,483 Deferred

Shares of £0.0999 each and 1,637,129,905 Deferred Shares of £0.00249 each. The Directors do not believe

there are any persons with a significant direct or indirect holding of securities in the Company.

The Directors do not recommend the payment of a dividend for the year ended 30 June 2024 (period ended

30 June 2023: £nil).

Diversity and Equality

The Company is committed to a corporate culture that embraces equal opportunity, diversity, social

responsibility, safety and commitment to the environment and is based on sound ethical values and

behaviours. The Company promotes its commitment through its public statements on its website, in its report

and accounts and internally through its communications to its stakeholders.

Corporate Governance statement

The Corporate Governance report forms part of the Directors’ Report.

Subsequent Events

On 29 July 2024, the Listing Rules were replaced by the UK Listing Rules (“UKLR”) under which the existing

Standard Listing category was replaced by the Equity Shares (shell companies) category under Chapter 13 of

the UKLR as it applied to the Company. Consequently, with effect from that date the Company is admitted

to Equity Shares (shell companies) category of the Official List under Chapter 13 of the UKLR and to trading

on the London Stock Exchange’s Main Market for listed securities.

![](data:image/png;base64,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)

ICONIC LABS PLC

DIRECTORS’ REPORT (Continued)

Page 18

Greenhouse Gas Emissions, Energy Consumption and Energy Efficiency Action

The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and

energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.

Based on the Company’s size and operations, the Board has considered the related climate-related risks and

opportunities on the company to be minimal and has decided against setting up a task force on climate-

related financial disclosures (“TCFD”) at this time. The Company’s position on TCFD is being continually

monitored and will be reviewed when the Board considers the impact of climate related risk and

opportunities to be relevant to the Company.

Statement of Directors’ Responsibilities

The Directors are responsible for preparing the Strategic Report, Corporate Governance Report,

Remuneration Committee Report, Audit Committee Report, the Directors’ Report and the financial

statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare consolidated financial statements for each financial

year. Under that law they have elected to prepare the financial statements in accordance with UK-adopted

international accounting standards and applicable law.

Under company law the Directors must not approve the financial statements unless they are satisfied that

they give a true and fair view of the state of affairs of the Company and of its profit or loss for that period. In

preparing the financial statements, the Directors are required to:

x select suitable accounting policies and then apply them consistently;

x make judgements and estimates that are reasonable, relevant and reliable;

x state whether they have been prepared in accordance with UK-adopted international accounting

standards;

x assess the Company’s ability to continue as a going concern, disclosing, as applicable, matters related

to going concern; and

x use the going concern basis of accounting unless they either intend to liquidate the Company or to cease

operations or have no realistic alternative but to do so.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain

the Company’s transactions and disclose with reasonable accuracy at any time the financial position of the

Company and enable them to ensure that its financial statements comply with the Companies Act 2006.  They

are responsible for such internal control as they determine is necessary to enable the preparation of financial

statements that are free from material misstatement, whether due to fraud or error, and have general

responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Company

and to prevent and detect fraud and other irregularities.

The Directors are responsible for the maintenance and integrity of the corporate and financial information

included on the Group’s website. Legislation in the United Kingdom governing the preparation and

dissemination of financial statements and other information included in directors’ reports may differ from

legislation in other jurisdictions.

The Directors consider that the annual report and financial statements, taken as a whole, is fair, balanced and

understandable and provides the information necessary for shareholders to assess the Group and Company’s

position, performance, business model and strategy

![](data:image/png;base64,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)

ICONIC LABS PLC

DIRECTORS’ REPORT (Continued)

Page 19

Substantial Shareholders

The Company has been notified of the following interest of 3 per cent or more in its issued share capital as

at 29 October 2024:

Shareholder

Number of

ordinary shares

%

The Bank Of New York (Nominees) Limited

3,197,679

\*28.65%

Hargreaves Lansdown (Nominees) Limited

2,208,700

\*19.79%

Hsdl Nominees Limited

1,371,321

\*12.29%

Interactive Investor Services Nominees Limited

1,224,945

\*10.97%

Jim Nominees Limited

735,477

\*6.59%

Barclays Direct Investing Nominees Limited

658,584

\*5.90%

Lawshare Nominees Limited

495,421

\*4.44%

Interactive Brokers Llc

475,355

\*4.26%

\*Shares are held in a nominee account with no beneficial holder owning 3% or more of the issued share capital

Directors’ Responsibilities Pursuant to DTR 4

The Directors confirm that to the best of their knowledge:

x Iconic’s financial statements have been prepared in accordance with International Financial Reporting

Standards (IFRS) as adopted by the United Kingdom and Article 4 of the IAS regulation and give a true

and fair view of the assets, liabilities, financial position and profit and loss of Iconic; and

x The Annual Report includes a fair review of the development and performance of the business and the

position of Iconic, together with a description of the principal risks and uncertainties that they face.

Directors’ Indemnity

The Company has insurance to cover the directors against defence costs and civil damages awarded

following an action brought against them in their personal capacity whilst carrying out their professional

duties for the Group.

Statement of Disclosure to Auditor

Each Director at the date of approval of this annual report confirms that:

x So far as the Directors are aware, there is no relevant audit information of which Iconic’s auditor is

unaware; and

x All the Directors have taken all the steps that they ought to have taken as Directors in order to make

themselves aware of any relevant audit information and to establish that the auditor is aware of that

information.

Auditor

The auditor, Royce Peeling Green Limited (“RPG”), were re-appointed at the AGM on 13 February 2024. RPG

will be proposed for reappointment with section 485 of the Companies Act 2006.

John Farquharson

On behalf of the Board

Director

Date: 30 October 2024

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ICONIC LABS PLC

INDEPENDENT AUDITOR’S REPORT

FOR THE YEAR ENDED 30 JUNE 2024

Page 20

Opinion

We have audited the financial statements of Iconic Labs Plc (the ‘parent Company)’ and its subsidiaries

(together the ‘Group’) for the year ended 30 June 2024 which comprise the Consolidated Statement of

Comprehensive Income, Consolidated Statement of Financial Position, Consolidated Statement of Changes in

Equity, Consolidated Statement of Cash Flows, Company Statement of Financial Position, Company Statement

of Changes in Equity and notes to the financial statements, including significant accounting policies. The

financial reporting framework that has been applied in the preparation of the group financial statements is

applicable law and UK adopted international accounting standards.

In our opinion:

x the financial statements give a true and fair view of the state of the Group’s and parent Company’s affairs

as at 30 June 2024 and of the Group’s profit for the year then ended;

x the group financial statements have been properly prepared in accordance with UK adopted

international accounting standards; and

x the financial statements have been prepared in accordance with the requirements of the Companies Act

2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and

applicable law. Our responsibilities under those standards are further described in the Auditor

Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the

group and the parent company in accordance with the ethical requirements that are relevant to our audit of

the financial statements in the UK, including the FRC’s Ethical Standard as applied to listed public interest

entities, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We

believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our

opinion.

Our approach to the audit

The scope of our audit was the audit of the group and parent company for the year ended 30 June 2024. The

audit was scoped by obtaining an understanding of the Group and parent Company and their environment,

including the parent Company's system of internal control and assessing the risks of material misstatement.

Audit work to respond to the assessed risks was planned and performed directly by the engagement team

which performed full scope audit procedures.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit

of the financial statements of the current period and include the most significant assessed risks of material

misstatement (whether or not due to fraud) we identified, including those which had the greatest effect on

the overall audit strategy, the allocation of resources in the audit and directing the efforts of the engagement

team. These matters were addressed in the context of our audit of the financial statements as a whole and

in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Except for the matter described in the Material uncertainty related to going concern section, we have

determined that there are no other key audit matters to be communicated in our report.

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)

ICONIC LABS PLC

INDEPENDENT AUDITOR’S REPORT

FOR THE YEAR ENDED 30 JUNE 2024

Page 21

Our application of materiality

The scope and focus of our audit were influenced by our assessment and application of materiality.

We define materiality as the magnitude of misstatement that could reasonably be expected to influence the

economic decisions of the users of the financial statements. We use materiality to determine the scope of our

audit and the nature, timing and extent of our audit procedures and to evaluate the effect of misstatements,

both individually and on the financial statements as a whole.

We set materiality for the financial statements as a whole at £69,000 (2023: £141,000), determined by reference

to 10% of the Adjusted Loss Before Taxation of the Group. This was considered an appropriate level of

materiality given the limited trading activity of the Group and the absence of any significant assets at the year

end date. To arrive at the Adjusted Loss Before Taxation, the write back of creditor balances of £1,416,725 (2023:

£6,117,481) which was credited to the Consolidated Statement of Comprehensive Income in the year has been

removed; this was considered to be the most appropriate measure to use given the ongoing position of the

Group. Performance materiality was set at £51,000 (2023: £88,000), being 62.5% of materiality.

We report to the Board of Directors any corrected or uncorrected misstatements arising exceeding £2,600

(2023: £4,000).

Material uncertainty related to going concern

We draw attention to Note 1 in the financial statements, which indicates that whilst the Directors are confident

that the reverse takeover (“RTO”) will be successful, because of the risk of the RTO failing, there is a material

uncertainty about the group and parent company’s ability to continue as a going concern. At the balance sheet

date the RTO has not been concluded and its outcome is unknown. As stated in Note 1, these events or

conditions, along with other matters as set forth in Note 1, indicate that a material uncertainty exists that may

cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in

respect of this matter.

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of

accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the

relevant sections of this report.

Our evaluation of the directors’ assessment of the entity’s ability to continue to adopt the going concern basis

of accounting included reviewing the forecasts of the group and parent company should the RTO fail,

undertaking sensitivity analysis around the key cash flows. We also reviewed documentation around the status

and progress of the RTO, including the expected completion date.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the

relevant sections of this report.

Other Information

The other information comprises the information included in the annual report other than the financial

statements and our auditor’s report thereon. The Directors are responsible for the other information contained

within the annual report. Our opinion on the financial statements does not cover the other information and,

except to the extent otherwise explicitly stated in our report, we do not express any form of assurance

conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the

other information is materially inconsistent with the financial statements or our knowledge obtained in the

course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies

or apparent material misstatements, we are required to determine whether this gives rise to a material

misstatement in the financial statements themselves.

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)

ICONIC LABS PLC

INDEPENDENT AUDITOR’S REPORT

FOR THE YEAR ENDED 30 JUNE 2024

Page 22

If, based on the work we have performed, we conclude that there is a material misstatement of this other

information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion the part of the directors’ remuneration report to be audited has been properly prepared in

accordance with the Companies Act 2006.

In our opinion, based on the work undertaken in the course of the audit:

x the information given in the Strategic Report and the Directors’ Report for the financial year for which

the financial statements are prepared is consistent with the financial statements; and

x the Strategic Report and the Directors’ Report have been prepared in accordance with applicable legal

requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment

obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or

the Directors’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006

requires us to report to you if, in our opinion:

x adequate accounting records have not been kept by the parent company, or returns adequate for our

audit have not been received from branches not visited by us; or

x the parent company financial statements and the part of the directors’ remuneration report to be

audited are not in agreement with the accounting records and returns; or

x certain disclosures of directors’ remuneration specified by law are not made; or

x we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors’ responsibilities statement, the directors are responsible for the

preparation of the financial statements and for being satisfied that they give a true and fair view, and for such

internal control as the directors determine is necessary to enable the preparation of financial statements that

are free from material misstatement, whether due to fraud or error. In preparing the financial statements,

the Directors are responsible for assessing the group’s and parent company’s ability to continue as a going

concern, disclosing, as applicable, matters related to going concern and using the going concern basis of

accounting unless the directors either intend to liquidate the group or parent company or to cease

operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are

free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes

our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted

in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can

arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably

be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design

procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of

irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,

including fraud, is detailed below.

![](data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAA/AAAAYSCAIAAAAQiZd3AAAACXBIWXMAABYlAAAWJQFJUiTwAAAahUlEQVR42uzaQQ2AMBREQUqqCAlN8FMpVYalxQQBfjIjYU/vsC3JBgAA1LSbAAAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAADq6SZ42TmGEQAAeEpLYgUAACjK5QYAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9CYAAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAACDoTQAAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNCbAAAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AACghm6Cr8x1GQH4jzUPIwBU1JJYAQAAinK5AQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAS9CQAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAACHoTAACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBALjbrYMaAAAQBmIflC3BvyV0AK2DZZ8DQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAWqRszOvElAAAPDVH1GbGH5fBXAAAAAElFTkSuQmCC)

ICONIC LABS PLC

INDEPENDENT AUDITOR’S REPORT

FOR THE YEAR ENDED 30 JUNE 2024

Page 23

We evaluated the directors’ and management’s incentives and opportunities for fraudulent manipulation of

the financial statements (including the risk of override of controls) and determined that the principal risks

were related to posting manual journal entries to manipulate financial performance, management bias

through judgements and assumptions in significant accounting estimates and significant one-off or unusual

transactions.

x Our audit procedures were designed to respond to those identified risks, including non-compliance with

laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit

procedures included but were not limited to:

x Discussing with the directors and management their policies and procedures regarding compliance with

laws and regulations;

x Communicating identified laws and regulations throughout our engagement team and remaining alert

to any indications of non-compliance throughout our audit; and

x Considering the risk of acts by the parent company which were contrary to applicable laws and

regulations, including fraud.

Our audit procedures in relation to fraud included but were not limited to:

x Making enquiries of the directors and management on whether they had knowledge of any actual,

suspected or alleged fraud;

x Gaining an understanding of the internal controls established to mitigate risks related to fraud;

x Discussing amongst the engagement team the risks of fraud; and

x Addressing the risks of fraud through management override of controls by performing journal entry

testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the

prevention and detection of irregularities including fraud rests with management. As with any audit, there

remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional

omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities is available on the FRC’s website at:

https://www.frc.org.uk/auditorsresponsibilities.

This description forms part of our auditor’s report.

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)

ICONIC LABS PLC

INDEPENDENT AUDITOR’S REPORT

FOR THE YEAR ENDED 30 JUNE 2024

Page 24

Other matters which we are required to address

We were appointed by the Board of Directors on 11 October 2023 to audit the financial statements for the

year ended 30 June 2024. Our total uninterrupted period of engagement is two years, covering the periods

ending 30 June 2023 to 30 June 2024.

The non-audit services prohibited by the FRC’s Ethical Standard were not provided to the group or the parent

company and we remain independent of the group and the parent company in conducting our audit.

Our audit opinion is consistent with the additional report to the audit committee.

Jonathan Hayward

Senior Statutory Auditor

For and on behalf of Royce Peeling Green Limited

Chartered Accountants

Statutory Auditor

Date:

The Copper Room

Deva City Office Park

Trinity Way

Manchester M3 7BG

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![](data:image/png;base64,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)

ICONIC LABS PLC

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 JUNE 2024

Page 25

|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  | Notes | Year ended | Year ended |
|  |  |  | 30 June | 30 June |
|  |  |  | 2024 | 2023 |
|  |  |  |  | (restated) |
|  |  |  | £ | £ |
| Revenue |  |  | - | - |
| Gross profit |  |  | - | - |
| Administrative expenses |  | 3 | 418,948 | 4,558,579 |
| Other operating income |  |  | - | 44 |
| Operating Profit |  |  | 418,948 | 4,558,623 |
| Profit before taxation |  |  | 418,948 | 4,558,623 |
| Income tax expense |  | 5 | - | - |
| Profit for the year |  |  | 418,948 | 4,558,623 |
| Total comprehensive profit for the year |  |  | 418,948 | 4,558,623 |
| Earnings per share attributable to equity shareholders of the  Company |  | 6 |  |  |
| - | Basic earnings per share |  | 0.05 | 0.00 |
| - | Diluted earnings per share |  | 0.01 | 0.00 |

The profit for the year and total comprehensive profit for the year are wholly attributable to the equity holders of the

parent.

The results above have been derived from continuing operations.

The notes on pages 31 to 50 are an integral part of these financial statements.

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CeAQAA9AwAAICeAQAA0DMAAAB6BgAA0DMAAABnSzUBAEBvzQhL2cZwiubgfgYAAMiqRIQVAACAjNzPAAAAegYAAEDPAAAA6BkAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAD0DAAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAAHoGAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAAAAPQMAAOgZAAAAPQMAAKBnAAAAPQMAAJBNNQEAQG/NCEvZxnCK5lAiwgoAAEBG3psBAAB6BgAAQM8AAADoGQAAQM8AAADoGQAAAD0DAADoGQAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAAPQMAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAAegYAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAA9AwAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAgJ4BAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAABAzwAAAOgZAAAAPQMAAKBnAAAAPQMAAKBnAAAA9AwAAKBnAAAA9AwAAICeAQAA0DMAAICeAQAA0DMAAAB6BgAA0DMAAAB6BgAAQM8AAADoGQAAQM8AAADoGQAAAD0DAADoGQAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAAPQMAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAAegYAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAA9AwAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAgJ4BAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAABAzwAAAOgZAAAAPQMAAKBnAAAAPQMAAKBnAAAA9AwAAKBnAAAA9AwAAICeAQAA0DMAAICeAQAA0DMAAAB6BgAA0DMAAAB6BgAAQM8AAADoGQAAQM8AAADoGQAAAD0DAADoGQAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAAPQMAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAAegYAAEDPAAAA6BkAAEDPAAAA6BkAAAA9AwAAoGcAAAA9AwAAoGcAAAD0DAAAoGcAAAD0DAAAgJ4BAADQMwAAgJ4BAADQMwAAACehmgAAoLdmhKVsYzhFc3A/AwAAZFUiwgoAAEBG7mcAAAA9AwAAoGcAAAD0DAAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAAHoGAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAAAAPQMAAOgZAAAAPQMAAKBnAAAAPQMAAKBnAAAA9AwAAICeAQAA9AwAAICeAQAA0DMAAICeAQAAyKaaAACgt2aEpWxjOEVzKBFhBQAAICPvzQAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAAPQMAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAAegYAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAA9AwAAoGcAAABOSzUBAEBvzQhL2cZwiubgfgYAAMiqRIQVAACAjNzPAAAAegYAAEDPAAAA6BkAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAD0DAAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAAHoGAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAJyWagIAgN6aEZayjeEUzaFEhBUAAICMvDcDAAD0DAAAgJ4BAADQMwAAgJ4BAADQMwAAAHoGAADQMwAAAHoGAABAzwAAAOgZAABAzwAAAOgZAAAAPQMAAOgZAAAAPQMAAKBnAAAA9AwAAKBnAAAA9AwAAICeAQAA9AwAAICeAQAA0DMAAAB6BgAA0DMAAAB6BgAAQM8AAAB6BgAAIJtqAgCA3poRlrKN4RTNoUSEFQAAgIzczwAA+Jf15bifmYb7GQAAICv/HwAAAKBnAAAA9AwAAICeAQAA9AwAAICeAQAA0DMAAICeAQAA0DMAAAB6BgAAQM8AAAB6BgAAQM8AAADoGQAAQM8AAADoGQAAAD0DAACgZwAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAANAzAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAA6BkAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAD0DAAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAAHoGAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAAAAPQMAAOgZAAAAPQMAAKBnAAAAPQMAAKBnAAAA9AwAAICeAQAA9AwAAICeAQAA0DMAAICeAQAA0DMAAAB6BgAAQM8AAAB6BgAAQM8AAADoGQAAQM8AAADoGQAAAD0DAACgZwAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAANAzAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAA6BkAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAD0DAAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAAHoGAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAAAAPQMAAOgZAAAAPQMAAKBnAAAAPQMAAKBnAAAA9AwAAICeAQAA9AwAAICeAQAA0DMAAICeAQAA0DMAAAB6BgAAQM8AAAB6BgAAQM8AAADoGQAAQM8AAADoGQAAAD0DAACgZwAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAAPQMAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAAegYAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAA9AwAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAgJ4BAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAABAzwAAAOgZAAAAPQMAAKBnAAAAPQMAAKBnAAAA9AwAAKBnzpCI2OuTO361H3KXTwIAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAAHoGAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAABAzwAAAOgZAAAAPQMAAPB3JSJO+StP/xvhj38ASjECAICeOfnmOfAvmif+yR2/2g+5yycBAMjLezMAAEDPAAAA6BkAAAA985s3b1/7fR/u2bsXnz9+sgMAAHrmTLh3567f94G+/fz+4Pbxlx9fTQEAgJ7Z3/OnLy9fveL3faD7D48vHF282W+YAgAAPbO/J48eXzq66Pd9oA+v3l+/dc0OAADomf/lV3t3H2flnD9+/M130Vphd+nG7jaTKTc7bkbU1LpL/cKKatkka+XmGxGVXYvJvb60yzIzhcqKYlOEbn4bq3RPNaUaNFaJqeyvpiRpokY03z+uHMd0N8tvaezz+fDHOdf5nOt8znXm9Dgv17mus6K87K4/9qnm4NXlZbW/v/+3O+F1qz6usmT9xvJxM2f2KyiYOGXCrrNhV5Z+EBH71Krt7QEAwC7uezV36tNmFz8y8JGTmrU6odXxOx75UlFRRBx9zNHf4mzvLSzco7KyR69eydXb/3TbUw+PqNhUkRowaMhDrVu22RU27JNjhkZEvewG3h4AAOziavD+mZWvvxkR8xcv2OnIeTNnRkTGTzO+ral+VvnZgPyCQQ8MXPh26bmdOzfKbPj4gKH1f5T59KPjFi8p7dGrZ0QckXHcLrJhk/w74dDjvT0AANjFfa+mP4G3Xn29miMPaXbItzXJx//y14io2FTRtnWriOh2Wfezup1z6I8aRsSEsZP6FRTeO/Deug1/uIts0nkzZ0XEQQ3qensAAKBnvn3rVm2IiP1r7fdtTeDp50YmF9q2aX/ln3omJZO4oselw0YMz23e3N8iAAD8x/XM8vWrdjqmaOrsb2t6C+Ys7dCxZUQcULveqBmjqpxjrVFmw8VLdq3fePng4/cjYveM/bw3AADY9dXg42feem/xCZ1OKZ46Z8fD1m8s/8f/K/5WZvjE4BEdOrbca4+9IuJ39/1h6xNG72oxExEzXl0UESc0sr8IAAA98++0evb6JvWP2r3OD1aUl+1g2NT5CyKiaeOTv+HpvTr39Vv65F1xTa9hDz0bETXltynfLiqKiEaNf/INPNb6jeXtO5zZqu0pi996y1sRAICa0TOV1bDTYRs/2fD6269VVsZh9Q8ePWRU+k2PPfPXdmf96tlRzyRXV722MCIanlh/p+ucM7/o2VHPVHOGO53km3uXRUSbI88aM35knR/V+/+yzsL8ghYn5W78ZEMybMk7pXff3bdH96v6D3uomiucPWPOhFGTdzgyIiLriCZf59VJ/K5Hr07tO6W/ZIX5BT26X3XHjXeuXbV+8T9Lzzq9bUlxybKSJWvWrkm/4+slr3XpeHHXC7qmljw76pm3Fi2q/kNXf6R/AgAA9My/Zrdq2OmwNxcu3bj5g0ObHJb50wZvlJWkls8uKrrj9ze/8XrxP5e+mywp37A2Io5rmLvTdT506xPXXXNtNWe400l2OrzNgH6DD2y697AZo35x4i+2Oebl2bMnTX1xm+t8pWxh/8LCkleWVXnM95atqrXn95NhN/bOe3jck/V+Vrfwxr5jXhxbnUmOHv/0Fddc8vjzI9IXrlqyNm1kREST3EP/pSdetn5l/8LCKnP4bPNndY44MHX1+u55/QsLGzVu9Niwhx974uHBjz707pJ3I6Jd1y7Nmuamhr3zxtKe1/V8ec6UzbtVphZed821jzz5aHX+MKr/J5QaBgCAnvmmvVP8ZkQc3SSn7sENVs9en1qe1ycvuXDAlw9WOTjnsNTlJwaPyG582Nbr3HR4eURsWPdJ+sJ+BQVfeZJt2rWqX7ve5qUfNmzaqMpNRbNm3djztos6nfd2yZIqN63fWH7/qCFXdOnSr6CwQ8eWY4c/v82VP/TAX4pmFT3w+/t633BzRCwrKY2IFeVleX3yDjk558+33rfNe61fWBkRaxet/OJZb/6k1aktJk6ZkFx9673FEdH4wC8mvKK8rFFmwycGj9je03x+6nM9fnNVv4LCa7v2St9cB/0o4wcb9k0uF8+dP27CmNMubNejV6/DDz7q1bkLxj42KiJ69Op53423pa/t4WcHLStZEhGV8Wn68iXTVqRfXVFeVjRrljcwAICeqZH++f6SxscdVb92vf3r7jPnranJwvtHDVn2eR7c0idv4ZrS+PxkzQfX/eLX7l8cO7liU8U2tsXqPSOivLw8teSuP/bpV1DY9druX3O2DX/YYGXpB8edmhsR61Z93KrtKb85r/OCpa8sXlJ6WfeuVQb3vf7egmtuX7toy3nblqxcuPUKl5W+e/c9d/Xo1bNNu1YRcdpZ7das+WDT5k9OPLLFyMEjNi/9cODQ/tvumb3XVVkyoN+DFZsqSopLkquLFq+uMmD40JERsXo7Byn1Kyi4ukv3+a/N3fqm99Yt333fz5LLvz7n7LZt2j9wR2FEXN+395w35iQvQY9evarca+Tn4TRt+tT0OnptyZfq5cQjW/zmvM6PPTfcexgAQM/UPNk52ddedVVE1P/Blp99XL+x/IX+o5LLl+b94YDa9bqcfH6yPCL2rbN3ctPCNaXTXh2/gzXvV+cHyYXiufMfGfhIREx++rmvOdvxU6e0vfz03r/Nu7HnbU2aZUfEsBHDx4z+29Yj12788MkxQ/faY6+Ol563gxXe+cfbI6LbZVdtSaCb+17b+9qLzr8wIm558K6jzs7d3h1nfvpmlSUvvzw9Ipq0aLGllGpV7ZYnxv41Ig455rBtrvD+UUMi4timTTLrHlrlpk2fbkoutO9wZkRc3K1LcvWE3NzX5r6aPMHiufPT7/Kb87Y8607tuzTIzuxXUJjaCXPQqYenhg0rfHbLq/nCQu9hAAA9U/O0btmmdcs2EVFrz1rJkrHDxv3jndciYveM/fIuv7LjxWevLlzDUqoAABC2SURBVC+bOGVCahdBYsrwF7b36bzez/aLiL322LLCadOnHlC7XvJLLMm3sL56zzw7pnPb8+8fUfjkmKHdLus+adzk7f2A5jOPPhURjzw+pO/NfXewwqIF8y465/I9997y80H71tm7X0FB0ayi392Xd+EZnZdPWBoReX3ymh/Zosqpwxot/mH61YVrSufOmRcRB9fP3OaAiEj2FP3i8JO2nsbEKRM2L/3wvD7dnhz5zNYhVPv7+29e91/Fc+eXFJc0yM7MOfaY9Fs7tGkfEb+75XepJes3lhfNKkout+t8et7lN0fEhLGTkyU/21g3NbL/w/dk52RHxMji0d7DAAB65rsg9T/yH//TwIjYq+GBETFxyov71Nonfdj75e9t79P55nX/lX517PC/n3lWu2P3zImI1bPLv9qsknNJ1/nxQQPyCyLiz38puLb3tTsYP7u46PhzT8lt3vzVua/v4Jl+tHztTffe8KXZDnsuIq48+7L4/LthIwePWF1e9tTwp9OHJT/F89Mfb6mXFx4bs+Xv4PPq22fvL/2SZnJ4zyHHHJbawZXuznvuiojrTrs6IjYv/bDKreUb1u6+72cvvjAxIu67o+rxPLnNm/fo1XNZyZIrL7k8VaTJhY6XnpfbvHnyVbrFn72VXpsRsWDO0tXlZbff3GebDwoAgJ6pST6t2PJBfNyEMRHx2yu6pO/62HNzrX1q1U4fP2zwsIjYt873t17VQQ3qpC6/8mbJkpULT7+wXcPj60bEka0bfbXpJUeD/HPl0gbZmZPGTU52SuzApPGTTjv01IiYOn3i1rcuX7YqIn7f5/pfnn5OlZtWl5c1bJsTn3+5KyLuubvwpNanTf/7jPRhdY88NCI2HbRlH1Rqv1Ppy1vOEJBx5EHp42/vf1dE5Bx91NaTmbv8tWUlSy7pdsm+dfZ+qWjLfpXkaKX0RHz00Yf3P6ROlZ0ziR69ek1/feb4SeOHPzs8It55uzQiTj6x9Tb3TaVq8+8TRu6esV/OscfUPfLQJi387icAgJ6pyaZOnRwRK0s/iIjc5rm3Xn/blo+/S9dGRJuLOiZXy9Yuj4gV5WXJYegryldWWc+6VR+nX+3W45KLzr/suMOyD2uWExEvTp9UZfzCt0t3OreJUyb0KyiMiPbtO0waN3mn4+eseDMizr/0vIhYuKb0mBO/tBNp4ZrSZC9KWcmyX551ytZ3/+Ct5dmNDyspLsltnjtsxPBfndtuxYcrNn7yUfqYBhu/OO3b2yVLnh827qQTT46I1DkVVr23PH38jL9PiIhZc2ZXeayytctffmpSRJxz2QURMW/mzMMPPioiFq3ZslmK587/YOPap58dXrGpYsDQodt7yvVr12vbpv2UFyauW/Xx8JFDI+K6whvTW6tJ/S0pVbZHWUQseOP1gQ898NR9j0bESc2OmTdzG6c4S/4YAADQMzXApk837bXHXiOLx0RE+p6ZlaVrD6hd7/iDj0iOU5/7j6UR0ffqwhbHtzigdr3JT01JX8mEsZNaHN9k0AMDI6Ji08aJUyasXbQqt3luRHQ4rn18fjbk9BJo27pV8Ruv7mBiRbNmJV/Hiohf5J5UnecyZMCAAxvUSdLlhcfG/rF3n0jb43Htr3uNGbbl62FNjmpa5b7ZOdlrF62q2FRxSbdLBg35S7Ip3n5vaa09f5Aak9cnb+WeSyOi8c/rR8S4CaMjonPHCyPipRnTKzZtvL77DdOmT43PT6IwesKYiDi2aZNlJUtSJ3SOiL89//wJOccntx76o4YRMXnetJtvvykiFr285Wty/QoKZ058OSL2P6RO0/qH7eBZNz4jZ8HshTP+Ma1iU8XhBx+VrDAi5vxtfvprWjFvc0S88tK8vfbYK9nbU7923fj8G33pDdnq1BbL1r3rvQ0AoGdqgI2bNuT+/OR1C9+NiMN/kpNqiSfHDL2z/x0R0epXJxxQu96MES+s3fjhc1NGNG3a7Myz2q0uL0t2hiSDr+hxaUTkHJsTEWUr1lx/100RkRy/kRw3MmHs5OQjfvJZ/5Y+N0REwwN39CW0MX8fFRH39X2wSYvmLy2cXp3nMnfU7CbZx0TEC4+NadKsSdbhDSJi9Cuj128s/9Pw/u+8u7BRdqOIOKB2vbo/PbDKfXvfcFOPXj3vHzqg9w03p75it3nph/v8ZMtxL+tWfTxy8Ih/rv8gImbMmh8RxXOLs3Oy27Rr1f7Sc+fNnnfjH3o/M+7JY5s2ic/3R419bNQBtevl3XBTpB2eVDRr1oMFhYcffNSykiX7H1InqcHXp81vdmLT7Jzs1eVloyeMKZo1a9r0qXX2/0lEdDiuw46f9R7LN67ec+2axWsjok27L/Y73Tbkzk7tv/j2YLIHacb0lzt33HKetAbZDSNi8G1D0juzR9erc47NabDvz7y3AQD+I1TukjZv3lzNkcf/nzZDxz0x7ZW5WRmZwx4eXllZ+eHKj7IyMnv3uDU1pjA/Pysj85FBQ7MyMis+2jTtuZezMjIbn3R0ZWVln7y7sjIyszIyFy8o7f/so1kZmVd2uzwrI/OeW+5N3f3pv45JX2G79m2zMjKHPfJUNSc58P4BxxyeU52RyaPPnl2UlZFZmJ+fmnny34uTx+fdel1WRuaYJ56r5kNnZWRefWX31DSyMjIfeGZQVkZmx/POS25NHiW5nJWRefEFXZLLjU86+s6+dySbpbKysvGRh2RlZFZWVi5eUJqVkXl6m1NfnVeSlZF5bJtmn3xWceYp7ZL1jBo/OjXbgfcPuPrK7lkZmcWvvLbjSbZudlrXrpcsWvVWVkbmDXfcUFlZWb5h3cUXdPl5o0NTY045o2VWRmbPG+7MysicWDw3tbx3j1uzMjJfemlaam6pOVf/TwgAgJqrxvdMkihJwyQfiLMyMi+47vL0McvXrfh5o0OzMjLHj5mYLLny5h6pT97nd+qUGnlB1wtTH+vT9fjvnqnxqdqp5iSXr1uRxMBO/bmgIFl/j//u+clnFcnCYQ8PL8zPTz6jX39NXlZGZvmGddXvmb433Z1c7pN31ylntKysrOx6fq+sjMx27dueckbL8g3rkltnzZxZcF9+6nJ63lTJqvM7dVq0cGFlZeXFF3RJkub8Tp3mvzIvdd/C/PxR40dXVlZefWX31s1O297c+g9+MAmqrIzMV2e/ngrF66/Ja3zS0elzS23DrIzM/7ntzvSVvPn+O78+tWNqbrlHNE+9xHoGAEDP7EI9c9Mjd3Z58PoqC998/53mJzZLLg+6/6HcI5onMZD+UTgx/5V5qc/rlZWVH678qDA/v8Nvf5Xs0kmZNXPmue3O3eaUFi8oLczPT6XFv/SJueXJJ85/7R/VGXlx14tSn8i39sAzg848pV31HzorI/P+xx9IeuDYNs2eHPN08hyTFHlx8vjtbfPxYyYW5ueXvbMmuVq+Yd2o8aNzj2hemJ+fqqn5r8xr1vXUYQ8P33prJx7sd3/6bq6tMy/Z6/L42MeTFc6aOfPYNs2S1po1c+bWSXlB1wuTlKrimcdGFebn93/20fSZ6BkAgP8Eu1VWVu6a34Lbbbfd0pdMnDLh8osuGzTkoeRnNBP/07vv8veWPfiXAV9tnV9n2L808rlx485o2/abn2SjzIZ35//57F+dM+iBgffc86fFS0q/ySf+79iS/46RAADUXDXmfACtW7ZpkJ15+UWXpU609edb7xvyxEPdLuu+60/+l2ec8W09dK09a23a/Em/goJLul3izx0AgO+Y79WguQ4bMbxfQeHlF12WWnLFNb2OPC7bq7hNy5dt+Y2dRwY8UrGpIn2/FgAA6JlvWv3a9fre3LfTGecmv5GSnZPdumWbXfP7cruC5AcoI2LJmqWnXdgu/cd5AABAz3xF1SyQ7Q07uknO0U1y0sdUP2m+5kPvUiN3Omz97IqIqPisYubE+f0fuLs6q/0P3JKOsQEA0DP/ml38UPIacRR7dYYVl86IiDcnL+vcscOR2UfZkgAA6BlqjLK1KyLi/y4bOyN/kq0BAMB30u42wXfVRys+jYjDfpxhUwAAoGeoYVa9835EdD67s00BAICeoYZ5p+GKiDju5GY2BQAA31WOn/nOeuyPA6cc/cL+tfazKQAA+K7abdf8/RbnNzPJb2wkAAA1l++bAQAAegYAAEDPAAAA6BkAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAA8E3arbKy8ht+yG/+EWG7b4DddrMRAAD0DAAAwDfN980AAAA9AwAAoGcAAAD0DAAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAAHoGAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAAAAPQMAAOgZAAAAPQMAAKBnAAAAPQMAAKBnAAAA9AwAAICeAQAA9AwAAICeAQAA0DMAAICeAQAA0DMAAAB6BgAAQM8AAAB6BgAAQM8AAADoGQAAQM8AAADoGQAAAD0DAACgZwAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAANAzAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAA6BkAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAD0DAAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAAHoGAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAAAAPQMAAOgZAAAAPQMAAKBnAAAAPQMAAKBnAAAA9AwAAICeAQAA9AwAAICeAQAA0DMAAICeAQAA0DMAAAB6BgAAQM8AAAB6BgAAQM8AAADoGQAAQM8AAADoGQAAAD0DAACgZwAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAANAzAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAA6BkAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAD0DAAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAAHoGAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAAAAPQMAAOgZAAAAPQMAAKBnAAAAPQMAAKBnAAAA9AwAAKBnAAAA9AwAAICeAQAA0DMAAICeAQAA0DMAAAB6BgAA0DMAAAB6BgAAQM8AAADoGQAAQM8AAADoGQAAAD0DAADoGQAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAAPQMAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAAegYAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAA9AwAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAgJ4BAADQMwAAAHoGAABAzwAAAHoGAABAzwAAAOgZAABAzwAAAOgZAAAAPQMAAKBnAAAAPQMAAKBnAAAA9AwAAKBnAAAA9AwAAICeAQAA0DMAAICeAQAA0DMAAAB6BgAA0DMAAAB6BgAAQM8AAADoGQAAQM8AAADoGQAAAD0DAADoGQAAAD0DAACgZwAAAPQMAACgZwAAAPQMAACAngEAAPQMAACAngEAANAzAAAAegYAANAzAAAAegYAAEDPAAAAegYAAEDPAAAA6BkAAAA9AwAA6BkAAAA9AwAAoGcAAAA9AwAAoGcAAAD0DAAAgJ4BAAD0DAAAgJ4BAADQMwAAgJ4BAADQMwAAAHoGAABAzwAAAHoGAADg2/C9b+VR27RqZdMDAABfx4RJk/4XBPcLoqafGc4AAAAASUVORK5CYII=)

ICONIC LABS PLC

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2024

Page 26

Notes

|  |  |  |  |
| --- | --- | --- | --- |
|  |  | 30 June | 30 June |
|  |  | 2024 | 2023 |
|  |  |  | (restated) |
|  |  | £ | £ |
| Assets |  |  |  |
| Non-current assets |  |  |  |
| Intangible assets | 7 | 1 | 1 |
| Total non-current assets |  | 1 | 1 |
| Current assets |  |  |  |
| Trade and other receivables | 9 | 10,030 | - |
| Cash and cash equivalents | 10 | 129,309 | 50,243 |
|  |  | 139,339 | 50,243 |
| Total assets |  | 139,340 | 50,244 |
| Equity |  |  |  |
| Share capital | 11 | 5,192,602 | 4,539,523 |
| Share premium | 12 | 8,401,588 | 8,341,761 |
| Accumulated losses | 12 | (16,312,233) | (16,731,181) |
|  |  | (2,718,043) | (3,849,897) |
| Liabilities |  |  |  |
| Current liabilities |  |  |  |
| Trade and other payables | 13 | 210,604 | 1,750,141 |
| Loans and borrowings | 14 | 2,646,779 | 2,150,000 |
|  |  | 2,857,383 | 3,900,141 |
| Total liabilities |  | 2,857,383 | 3,900,141 |
| Total equity and liabilities |  | 139,340 | 50,244 |

The notes on pages 31 to 50 are an integral part of these financial statements.

The financial statements of Iconic Labs plc were approved by the Board and authorised for issue on 30 October 2024. They were

signed on its behalf by:

………………………………………

John Farquharson

Director

Company Registration No: 10197256

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)

ICONIC LABS PLC

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2024

Page 27

|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  | Share | Share | Accumulated | Total |
|  | capital | premium | losses | Equity |
|  | £ | £ | £ | £ |
| Balance at 30 June 2022 | 4,450,506 | 7,900,778 | (21,289,804) | (8,938,520) |
| Profit for the period | - | - | 4,768,623 | 4,768,623 |
| Total comprehensive profit for the period | - | - | 4,768,623 | 4,768,623 |
| Transactions with owners: |  |  |  |  |
| Issue of shares | 89,017 | 440,983 |  | 530,000 |
| Total contribution by and distribution to owners | 89,017 | 440,983 |  | 530,000 |
| Balance at 30 June 2023 as previously presented | 4,539,523 | 8,341,761 | (16,521,181) | (3,639,897) |
| Prior period adjustment (note 16) | - | - | (210,000) | (210,000) |
| Balance at 30 June 2023 as restated | 4,539,523 | 8,341,761 | (16,731,181) | (3,849,897) |
| Profit for the year | - | - | 418,948 | 418,948 |
| Total comprehensive profit for the year | - | - | 418,948 | 418,948 |
| Transactions with owners: |  |  |  |  |
| Issue of shares | 653,079 | 59,827 | - | 712,906 |
| Total contribution by and distribution to owners | 653,079 | 59,827 | - | 712,906 |
| Balance at 30 June 2024 | 5,192,602 | 8,401,588 | (16,312,233) | (2,718,043) |

Share premium includes premiums on issue of share capital, less associated issue costs.

The notes on pages 31 to 50 are an integral part of these financial statements.

![](data:image/png;base64,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)

ICONIC LABS PLC

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2024

Page 28

Notes

|  |  |  |  |
| --- | --- | --- | --- |
|  |  | Year ended | Year ended |
|  |  | 30 June | 30 June |
|  |  | 202  4 | 2023 |
|  |  |  | (restated) |
|  |  | £ | £ |
| Cash flows from operating activities |  |  |  |
| Total comprehensive profit for the year |  | 418,948 | 4,558,623 |
| Costs relating to EHGOSF facility |  | 310,006 | - |
| Net write back of trade creditors |  | (1,509,225) | (6,117,482) |
| Net write back of loan notes |  | - | (915,000) |
|  |  | (780,271) | (2,473,859) |
| Increase in trade and other receivables | 9 | (10,030) | - |
| (Increase)/decrease in trade and other payables | 13 | (12,412) | 1,554,097 |
| Net cash used in operating activities |  | (802,713) | (919,762) |
| Cash flows from financing activities |  |  |  |
| Cash flows from issue for promissory notes | 14 | 631,779 | - |
| Cash flows from issue of convertible loan notes | 14 | 250,000 | 970,000 |
| Net cash flows from financing activities |  | 881,779 | 970,000 |
| Net increase in cash and cash equivalents |  | 79,066 | 50,238 |
| Cash and cash equivalents at beginning of year |  | 50,243 | 5 |
| Cash and cash equivalents at year end | 10 | 129,309 | 50,243 |

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)

ICONIC LABS PLC

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2024

Page 29

Notes

30 June

2024

30 June

202

3

(restated)

£

£

Non-current assets

Investments

8

1

1

Non-current assets

1

1

Current assets

Trade and other receivables

9

10,030

-

Cash and cash equivalents

10

129,309

50,243

139,339

50,243

Total assets

139,340

50,244

Equity

Share capital

11

5,192,602

4,539,523

Share premium

12

8,401,588

8,341,761

Accumulated losses

12

(16,312,233)

(16,731,181)

(2,718,043)

(3,849,897)

Current liabilities

Trade and other payables

13

210,604

1,750,141

Loans and borrowings

14

2,646,779

2,150,000

2,857,383

3,900,141

Total liabilities

2,857,383

3,900,141

Total equity and liabilities

139,340

50,244

The notes on pages 31 to 50 are an integral part of these financial statements.

The Company’s profit and total comprehensive profit for the year ended 30 June 2024 was £418,948

(restated 30 June 2023:

£4,558,623 profit).

………………………………………

John Farquharson

Director

Company Registration No: 10197256

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)

ICONIC LABS PLC

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2024

Page 30

Share

capital

£

Share

premium

£

Accumulated

losses

£

Total

equity

£

Balance at 01 July 2023

4,450,506

7,900,778

(21,289,344)

(8,938,060)

Profit for the period

-

-

4,768,163

4,768,163

Total comprehensive profit for period

-

-

4,768,163

4,768,163

Transactions with owners

Issue of shares

89,017

440,983

-

530,000

Total contributions by and distributions to

owners

89,017

440,983

-

530,000

Balance at 30 June 2023 as originally presented

4,559,523

8,341,761

(16,521,181)

(3,639,897)

Prior period adjustment (note 16)

-

-

(210,000)

(210,000)

Balance at 30 June 2023 as restated

4,559,523

8,341,761

(16,731,181)

(3,849,897)

Balance at 01 July 2023

4,359,523

8,341,761

(16,731,181)

(3,849,897)

Profit for the year

-

-

418,948

418,948

Total comprehensive profit for year

-

-

418,948

418,948

Transactions with owners

Issue of shares

653,079

59,827

-

712,906

Total contributions by and distributions to

owners

653,079

59,827

-

712,906

Balance at 30 June 2024

5,192,602

8,401,588

(16,312,233)

(2,718,043)

Share premium includes premiums on issue of share capital, less associated issue costs.

The notes on pages 31 to 50 are an integral part of these financial statements

.

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DQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOhNAAAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQBA0JsAAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAALjt1jENAAAIA8EFZU3wbwkRDAzcGWjS6QU9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AACDoAQBA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAAEEPAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAAEPQAACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AACAoAcAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAAAEPQAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAAEDQAwCAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAAIIeAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AAAg6AEAAEEPAAAIegAAQNADAICgBwAABD0AACDoAQAAQQ8AAIIeAAAQ9AAAgKAHAABBDwAACHoAAEDQAwAAgh4AAAQ9AAAg6AEAAEEPAAAIegAAEPQAAICgBwAABD0AAAh6AABA0AMAAIIeAAAQ9AAAIOgBAABBDwAACHoAABD0AACAoAcAAAQ9AAAg6AEAQNADAACCHgAAEPQAAICgBwAAQQ8AAAh6AABA0AMAgKAHAAAEPQAAIOgBAABBDwAAgh4AABD0AACAoAcAAAQ9AAAIegAAQNADAACCHgAABD0AACDoAQAAQQ8AAAh6AAAQ9AAAgKAHAAAEPQAAIOgBAEDQAwAAgh4AABD0AADwRp2sduJ6AADYGwoaE897wMw5AAAAAElFTkSuQmCC)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 31

1. Accounting Policies

Company information

The principal activity of (“the Company”) is that of a holding company. The Company is a public company limited

by shares registered in England & Wales. The registered office of the Company is 7 Bell Yard, London, WC2A 2JR.

The Company registration number is 10197256.

Basis of preparation

These financial statements have been prepared in accordance with applicable law and UK Adopted International

Accounting Standards (“UK Adopted IASs”).

These consolidated financial statements are presented in Pounds Sterling (‘GBP’), which is considered by the

directors to be the functional and presentation currency.

The Company’s individual statement of comprehensive income has been omitted from the Group’s annual

financial statements having taken advantage of the exemption not to disclose under Section 408(3) of the

Companies Act 2006.

Going concern

As noted in the Corporate Governance Report on pages 8-13, the Directors have carefully considered the financial

position of Iconic in light of progress during the twelve months ended 30 June 2024. The Directors have identified

and announced a target for a proposed RTO transaction and have secured short term funding to progress the

financial and legal due diligence, however there is a risk that the transaction may not complete. If the proposed

RTO is not successful and an alternative target is not found within a short period of time, there is a risk that

further funding will not be available from the Financing Facility with EHGOSF, and that whilst the on-going

running costs of the Group are expected to be low, the Group may not be able to meet its liabilities as they fall

due.

In such an event the Group would need to wind down its operations, realise any assets and may enter

administration, if and to the extent there are creditors of the Company who cannot be paid. In such an event,

the Group would no longer manage its affairs or the realisation of its assets. As a result of either winding down

the business or entering into administration, the Ordinary Shares would be cancelled from the Official List and

Shareholders may receive little or no value for their Ordinary Shares.

On this basis, there is a material uncertainty related to events or conditions that may cast significant doubt on

the Group’s ability to continue as a going concern and that it may therefore be unable to realise its assets and

discharge its liabilities in the normal course of business. The Directors believe it remains appropriate to prepare

the financial statements on a going concern basis

Basis of consolidation

The Group financial statements consolidate those of the parent company and all of its subsidiaries. Subsidiaries

are entities controlled by the Group. The parent company controls a subsidiary if it has power over the investee

to significantly direct the activities, exposure, or rights, to variable returns from its involvement with the investee,

and the ability to use its power over the investee to affect the amount of the investors’ returns. The financial

statements of subsidiaries are included in the consolidated financial statements from the date that control

commences until the date that control ceases.

The results of subsidiaries acquired or disposed in the period are included in the consolidated income statement

from the effective date of acquisition or up to the effective date of disposal, as appropriate. All intra-group

transactions, balances, income and expenses are eliminated on consolidation.

The results and net assets of subsidiaries whose accounts are denominated in foreign currencies are retranslated

into Sterling at average rates and year-end rates respectively.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024 (CONTINUED)

Page 32

1. Accounting Policies (Continued)

Basis of consolidation (Continued)

Where the Group has the power to participate in (but not control) the financial and operating policy decisions of

another entity, it is classified as an associate. Associates are initially recognised in the consolidated statement of

financial position at cost. Subsequently associates are accounted for using the equity method, where the Group's

share of post-acquisition profits and losses and other comprehensive income is recognised in the consolidated

statement of profit and loss and other comprehensive income (except for losses in excess of the Group's

investment in the associate unless there is an obligation to make good those losses).

Taxation

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

Deferred tax is the tax expected to be payable or recoverable on temporary 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 (other than in a business combination) of other assets and liabilities in a

transaction that affects neither the tax profit nor the accounting profit.

Deferred tax liabilities are recognised for taxable temporary differences arising on investments in subsidiaries

and associates, and interests in joint ventures, except where the Group is able to control the reversal of the

temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future.

The carrying amount of deferred tax assets is reviewed at each reporting 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 measured on an undiscounted basis using 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.

Intangible fixed assets

Intangible assets comprise capitalised computer software which are initially recognised at cost.

Amortisation is provided so as to write off their carrying value over their expected useful economic lives. It is

provided at the following rates:

Computer Software

33% straight line basis

Intangible assets also comprise intellectual property which is initially measured at cost. The useful economic life

of the asset is considered to be such that any amortisation charge would be immaterial to the financial

statements. The directors have therefore decided that an annual impairment review rather than a systematic

amortisation is more appropriate for this asset.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024 (CONTINUED)

Page 33

1. Accounting Policies (Continued)

Impairment of non-current assets

At each reporting date the Group reviews the carrying amounts of its property, plant and equipment 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).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of

the asset is reduced to its recoverable amount. An impairment loss is recognised as an expense immediately,

unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a

revaluation decrease.

Financial assets

Financial assets are recognised when the Group becomes a party to the contractual provisions of the financial

asset.

Financial assets are derecognised when the contractual rights to the cash flows from the financial assets expire,

or when the financial asset and substantially all of the risks and rewards are transferred.

The financial assets of the Group are initially measured at fair value adjusted for transaction costs (where

applicable).

Financial assets are classified into the following categories:

- A m o r t i s e d c o s t

- Fair value through profit or loss (FVTPL)

- Fair value through other comprehensive income (FVOCI)

The classification is determined by both:

- The Group’s business model for managing the financial asset

- The contractual cash flow characteristics of the financial asset

All income and expenses relating to financial assets that are recognised in profit or loss are presented within

finance costs and finance income.

Financial assets are measured at amortised cost if the assets meet the following conditions (and are not

designated as FVTPL):

-  They are held within a business model whose objective is to hold the financial assets and collect its

contractual cash flows

-  The contractual terms of the financial assets give rise to cash flows that are solely payments of principal and

interest on the principal amount outstanding

After initial recognition, these are measured at amortised cost using the effective interest method. Discounting

is omitted where its effect is immaterial. The Group’s cash and cash equivalents, trade and other receivables fall

into this category.

An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference

between its carrying amount and the present value of the estimated future cash flows discounted at the asset’s

original effective interest rate. Losses are recognised in profit or loss and reflected in an allowance against trade

and other receivables. When an event occurring after the impairment was recognised causes the amount of

impairment loss to decrease, the decrease in impairment loss is reversed through profit or loss.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024 (CONTINUED)

Page 34

1. Accounting Policies (Continued)

Trade and other receivables

The Group makes use of a simplified approach in accounting for trade and other receivables and records the loss

allowance as lifetime expected credit losses. These are the expected shortfalls in contractual cash flows,

considering the potential for default at any point during the life of the financial instrument. In calculating, the

Group uses its historical experience, external indicators and forward-looking information to calculate the

expected credit losses using a provision matrix.

The Group assesses impairment of trade and other receivables on a collective basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits. These are initially and subsequently

recorded at fair value.

Financial liabilities

The Group’s principal financial liabilities include trade and other payables, leases and convertible debt none of

which would be classified as fair value through profit or loss.

Therefore, these financial liabilities are classified as financial liabilities at amortised cost, as defined below:

Other financial liabilities include the following items:

x Borrowings are initially recognised at fair value net of any transaction costs directly attributable to the

issue of the instrument. Such interest-bearing liabilities are subsequently measured at amortised cost

using the effective interest method, which ensures that any interest expense over the period to

repayment is at a constant rate on the balance of the liability carried in the statement of financial

position. Interest expense in this context includes initial transaction costs and premium payable on

redemption, as well as any interest or coupon payable while the liability is outstanding.

x Trade payables and other short-term monetary liabilities, which are initially recognised at fair value and

subsequently carried at amortised cost using the effective interest method.

Convertible loan notes

Convertible loan notes issued by the Group comprise loan notes that can be converted to ordinary shares at the

option of the holder. Convertible loan notes are recognised on the balance sheet when the entity becomes a

party to the contractual provisions of the instrument and are measured at fair value upon initial recognition

Convertible loan notes are classified as financial liabilities at amortised cost unless they meet the criteria to be

classified and measured at fair value through profit or loss. Derecognition occurs when the loan notes are

converted to ordinary shares.

Promissory notes

Promissory notes are classified as financial instruments and recognised on the balance sheet when the entity

becomes a party to the contractual provisions of the instrument. Upon initial recognition, promissory notes are

measured at fair value, typically the transaction price, plus any directly attributable transaction costs. If a

promissory note is issued with deferred payment terms or at an interest rate that does not reflect the market

rate, it is initially measured at fair value, determined by discounting future cash flows at a market rate of interest.

Promissory notes payable are classified as financial liabilities at amortised cost unless they meet the criteria to

be classified and measured at fair value through profit or loss. Promissory notes payable classified at amortised

cost are subsequently measured using the effective interest rate method, recognising interest expense over the

term of the note. Derecognition occurs when the obligation is discharged, cancelled, or expired.

Share capital

The Group’s ordinary shares are classified as equity instruments.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024 (CONTINUED)

Page 35

1. Accounting Policies (Continued)

Changes to IFRS not yet adopted

As from 1 January 2024, various amendments to IFRS standards as listed below were issued but have not been

applied in these financial statements. Their adoption is not expected to have a material effect on the financial

statements of the Company and Group.

The following UK-adopted IFRSs have been issued but have not been applied in these financial statements. Their

adoption is not expected to have a material effect on the financial statements:

x Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback (effective 1 January 2024).

x Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-

current and Non-current liabilities with Covenants (effective 1 January 2024).

x Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures: Supplier

Finance Arrangements (effective 1 January 2024).

The following standards and interpretations to published standards are not yet effective:

x Amendments to IAS 21: Lack of exchangeability (endorsed – effective 1 January 2025).

x Amendments to IFRS 9 and IFRS 7: Classification and Measurement of Financial Instruments (issued –

effective 1 January 2026)

x IFRS 18: Presentation and Disclosure in Financial Statements (issued – effective 1 January 2027)

x Amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and its Associate

or Joint Venture (deferred).

The Directors anticipate that the adoption of these standards and interpretations in future periods will not have

an impact on the results and net assets of the Company and Group.

2. Significant judgements and key sources of estimation uncertainty

The Group makes certain estimates and assumptions regarding the future. Estimates and judgements are

continually evaluated based on historical experience and other factors, including expectations of future events

that are believed to be reasonable under the circumstances. In the future, actual experience may differ from

these estimates and assumptions. Significant management judgements are as follows:

Legacy Issues

x Due to the change in the Board, key management and operations of the Group that took place in March

2021, it is possible that there are unrecorded liabilities relating to discontinued activities about which the

Board is unaware. The Board has undertaken, to the extent possible, a thorough review of the creditor

position of the Parent Company and the Group, with a core focus on the legacy business operations.

Notwithstanding the Board’s assessment, there is a residual risk unforeseen liabilities may arise. However,

due to the publicity around the new business, shutting down the old one and drawing down on the EHGOSF

facility, a number of claims were made against the company. While it is important to consider these

liabilities in these accounts the Board has however made a judgment that the risk of unrecorded actual or

contingent liabilities is now low.

x The Group’s former Board under through its Cellplan subsidiary was promoting bespoke stem cell medical

insurance and launched a website to market the product. After due enquiry, the new Board is not aware

that any such policies were issued. There does however remain a residual risk that policies may have been

issued. The Board considers that the incidence and financial impact is now low.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024 (CONTINUED)

Page 36

3. Profit from Operations

Year ended

30 June

2024

£

Year ended

30 June

2023

(restated)

£

The loss for the period is stated after charging:

Auditors’ remuneration – audit services

29,000

30,000

Expenses by nature:

£

£

Legal and professional fees

646,958

802,578

Consultancy fees

168,375

433,368

Other supplies and external services

274,944

322,957

Total operating expenses

1,090,277

1,558,903

Creditors written off

(1,509,225)

(6,117,482)

Total administrative expenses

(418,948)

(4,558,579)

4. Staff Costs

No wages were paid during this year or the previous year.

Employee Numbers

The average number of staff employed by the group during the period amounted to:

General and administration

4

3

4

3

Key management personnel compensation

Key management personnel are those persons having authority and responsibility for planning, directing and

controlling the activities, and are the directors of the Company.

Remuneration of the directors and highest paid director is shown in the Remuneration Committee Report on

page 14-15.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024 (CONTINUED)

Page 37

5. Income tax expense

Year ended

30 June 202

4

£

Year ended

30 June 2023

£

Current tax

-

-

Total current tax

-

-

The reason for the difference between the actual tax charge for the period and the standard rate of corporation

tax in the United Kingdom applied to losses for the period are as follows:

Year ended

30 June 202

4

£

Year ended

30 June 202

3

(restated)

£

Profit before taxation

418,948

4,558,623

Tax using the parent company’s domestic tax rate of 25% (2023: 19%)

104,737

866,138

Effects of:

Utilisation of tax losses and other deductions arising in the period

(104,737)

(866,138)

Total tax charged in the income statement

-

-

The deferred taxation has not been recognised in these accounts due to the uncertainty over whether this will be

recovered.

6. Earnings per share

Year ended

30 June 202

4

£

Year ended

30 June 202

3

(restated)

£

Basic earnings per share

Numerator

Profit for the year

418,948

4,558,623

Denominator

Weighted average number of ordinary shares used in basic earnings per

share (units)

8,784,726

46,306,916,660

Basic earnings per share

0.05

0.00

Diluted earnings per share

Numerator

Profit for the year

418,948

4,558,623

Denominator

Weighted average number of ordinary shares used in basic earnings per

share (units)

8,784,726

46,306,916,660

Impact of potential dilutive shares (units)

20,150,000

19,400,000

Adjusted weighted average number of shares (units)

28,934,726

46,326,316,660

Diluted earnings per share

0.01

0.00

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024 (CONTINUED)

Page 38

7. Intangible Assets

Intellectual

Property

£

Total

£

Cost

Balance at 30 June 2023

21,600

21,600

Additions

-

-

Balance at 30 June 2024

21,600

21,600

Amortisation

Balance at 30 June 2023

21,599

21,599

Impairment

-

-

Balance at 30 June 2024

21,599

21,599

Carrying amounts

Balance at 30 June 2024

1

1

Balance at 30 June 2023

1

1

8. Investments Company

30 June

202

4

£

30 June

202

3

£

Investments in subsidiaries

1

1

1

1

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ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 39

8. Investments (Continued)

Subsidiaries as at 30 June 2024:

Entity

Registered office address

Country of

incorporation

Nature of

business

Notes

WideCells International Limited

PO Box 4385, 09962594:

COMPANIES HOUSE DEFAULT

ADDRESS, Cardiff, CF14 8LH

United Kingdom

Holding company

(c) (d)

WideCells Portugal SA

Rua Da Casa Branca, 97

Coimbra 3030-109, Portugal

Portugal

Dormant

company

(a)

WideCells Espana SL

Calle Castillo de Fuensaldana, 4,

28232 Las Rozas, Madrid

Spain

In liquidation

(a)

CellPlan Limited

PO Box 4385, 09962594:

COMPANIES HOUSE DEFAULT

ADDRESS, Cardiff, CF14 8LH

United Kingdom

Dormant

company

(a) (d)

CellPlan International Lda

Edificio Tower Plaza Rotunda

Eng, Edgar Cardoso, no. 23, 11

F, 4400

-676 Vila Nova

de Gaia,

Portugal

Portugal

Dormant

company

(b) (d)

Nuuco Media Limited

PO Box 4385, 09962594:

COMPANIES HOUSE DEFAULT

ADDRESS, Cardiff, CF14 8LH

United Kingdom

Dormant

company

(c) (d)

Notes:  (a) 100% owned by WideCells International Limited  (b) 100% owned by CellPlan Limited

(c) 100% owned by Iconic Labs plc      (d) Ordinary Shares Held

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 40

9.  Trade and other receivables

Group

30 June

202

4

£

30 June

2023

£

Prepayments and accrued income

10,030

-

Total

10,030

-

Company

30 June

202

4

£

30 June

202

3

£

Prepayments and accrued income

10,030

-

Total

10,030

-

10.  Cash and cash equivalents

Group

30 June

202

4

£

30 June

202

3

£

Cash at bank available on demand

129,309

50,243

Total cash and cash equivalents

129,309

50,243

Company

30 June

202

4

£

30 June

202

3

£

Cash at bank available on demand

129,309

50,243

Total cash and cash equivalents

129,309

50,243

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 41

11.  Company Share Capital

30 June 2024

30 June 2023

Number

£

Number

£

Authorised, allotted and fully paid –

classified as equity

Ordinary shares of £0.10 each

(2023 - £0.00001 each)

11,161,483

1,116,148

46,306,916,660

463,069

Deferred shares of £0.00249 each

1,637,129,905

4,076,454

1,637,129,905

4,076,454

Total

1,648,291,388

5,192,602

47,944,046,565

4,539,523

At 30 June 2023, the Company had 46,306,916,660 Ordinary shares of £0.00001 in issue and 1,637,129,905 Deferred

shares of £0.00249 in issue.

In August 2023, the Company issued 689,655,172 Ordinary shares of £0.00001 for £0.000039 each in respect of a

conversion of loan notes by EHGOSF.

Following the share issue above, the Company undertook a share consolidation. For every 10,000 £0.0001 Ordinary

shares held, the shareholder received 1 Ordinary share of £0.10. In order to facilitate this consolidation, the

Company had to issue 8,168 Ordinary shares of £0.0001 prior to the consolidation.

In September 2023, the Company issued 220,361 Ordinary shares of £0.10 each for £0.23 each, 236,406 were issued

for £0.13 each and 271,739 were issued for £0.11 each. These issues were all in respect of the conversion of loan

notes by EHGOSF. The Company also issued 83,256 Ordinary shares at par, to creditors as part of the CVA

arrangement.

In October 2023, the Company issued 1,508,110 Ordinary shares of £0.10 each at par, in respect of the conversion

of £130,000 loan notes by EHGOSF, and related conversion fees.

In November 2023, the Company issued 1,022,490 Ordinary shares of £0.10 each at par, in respect of the conversion

of £50,000 loan notes by EHGOSF, and related conversion fees. Also in November 2023, the Company issued 769,043

Ordinary shares of £0.10 each at par, in respect of the conversion of £35,000 loan notes by Arch Capital Partners

LLP, and related conversion fees.

In December 2023, the Company issued 1,495,720 Ordinary shares of £0.10 each at par, in respect of the conversion

of £70,000 loan notes by EHGOSF, and related conversion fees.

In February 2024, the company issued 854,700 Ordinary shares of £0.10 each at par, in respect of the conversion of

£20,000 loan notes by EHGOSF, and related conversion fees.

At 30 June 2024, the Company had 11,161,483 Ordinary shares of £0.10 in issue and 1,637,129,905 Deferred shares

of £0.00249 in issue.

In accordance with the Companies Act 2006, the Company has no limit on its authorised share capital.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 42

11.  Company Share Capital (Continued)

The holders of Ordinary shares have full voting, dividend and capital distribution rights. The Ordinary shares do not

confer any rights of redemption.

On or following the occurrence of a change of control the receipts from the acquirer shall be applied to the holders

of the Ordinary shares pro rata to their respective holdings.

Ordinary shares and Deferred Shares are recorded as equity.

At 30 June 2024 the Company had issued 11,125,000,000 (2023: 6,125,000,000) warrants to EHGOSF at a strike price

of £0.00003 (2023: £0.00003) per share. All warrants remain outstanding at the year-end date.

12.  Reserves

The following describes the nature and purpose of each reserve within equity:

Reserve

Description and purpose

Share premium

Amount subscribed for share capital in excess of

nominal value

Accumulated losses

All other net gains and losses and transactions with

owners (e.g. dividends) not recognised elsewhere

13. Trade and other payables

Group

30 June

202

4

£

30 June

202

3

£

Trade payables

135,289

1,704,142

Accruals

75,315

45,999

Total

210,604

1,750,141

Book values approximate to fair values at 30 June 202

4 and 30 June 2023.

Company

30 June

202

4

£

30 June

202

3

£

Trade payables

135,289

1,704,142

Accruals

75,315

45,999

210,604

1,750,141

Book values approximate to fair values at 30 June 2024 and 30 June 2023.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 43

14. Loans and borrowings

Group

Current

30 June

2024

£

30 June

202

3

(restated)

£

Promissory notes

631,779

-

Convertible loans

2,015,000

2,150,000

Total

2,646,779

2,150,000

Book values approximate to fair values at 30 June 2024 and 30 June 2023.

During the current year, the Company issued promissory notes of £325,460 to EHGOSF to provide working capital.

In addition, the Company issued a further £306,319 of promissory notes to allow it to progress the legal and financial

due diligence to enable the RTO to proceed.

During the prior year, the Company entered into a financing facility with EHGOSF for the issue of up to £3m of further

convertible loan notes. At the year end the Company had drawn down £1,480,000 of the facility of which £930,000

had been converted into shares and fees of £260,000 had been deducted. This facility is unsecured.

Company

Current

30 June

202

4

£

30 June

202

3

(restated)

£

Promissory notes

631,779

-

Convertible loans

2,015,000

2,150,000

Total

2,646,779

2,150,000

15. Financial Instruments – Risk Management

The Group is exposed through its operations to the following financial risks:

x Credit risk

x Market risk

x Liquidity risk

In common with other businesses, the Group is exposed to risks that arise from use of financial instruments.

This note describes the group’s objectives, policies and processes for managing those risks and the methods

used to measure them.

The principal financial instruments used by the Group, from which the financial instrument risks arise, are as

follows:

x Cash and cash equivalents

x Trade and other receivables

x Trade and other payables

x Loans and borrowings

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 44

15. Financial Instruments – Risk Management (Continued)

A summary of the financial instruments held by category is provided below:

x Financial assets – amortised cost

x Financial liabilities – amortised cost

The contractual maturities for all financial instruments held by the company are shown in the table below.

The table shows undiscounted principal and interest cash flows and includes contractual gross cash flows and

the net debt reconciliation:

Carrying value

Falling due within 1

year

Falling due in

more than 1

year but not

more

than 5

years

Total

£

£

£

£

2024

Financial liabilities: current and non-current

Trade and

other payables

210,604

210,604

-

210,604

Promissory

notes

631,779

631,779

631,779

Convertible

loan notes

2,015,000

2,015,000

-

2,015,000

Total financial

liabilities

2,857,383

2,857,383

-

2,857,383

Financial assets: current and non-current

Trade and

other

receivables

10,030

10,030

-

10,030

Cash and cash

equivalents

129,309

129,309

-

129,309

Total financial

assets

139,339

139,339

-

139,339

Net debt

(2,718,044)

(2,718,044)

-

(2,718,044)

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 45

15. Financial Instruments – Risk Management (Continued)

2023 (restated)

Carrying value

Falling due within

1 year

Falling due in more

than 1 year but not

more than 5 years

Total

Financial liabilities: current and non-current

Trade and other

payables

1,750,141

1,750,141

-

1,750,141

Convertible loan

notes

2,150,000

2,150,000

-

2,150,000

Other loans

-

-

-

-

Total financial

liabilities

3,900,141

3,900,141

-

3,900,141

Financial assets: current and non-current

Trade and other

receivables

-

-

-

-

Cash and cash

equivalents

50,243

50,243

-

50,243

Total financial

assets

50,243

50,243

-

50,243

Net debt

(3,849,898)

(3,849,898)

-

(3,849,898)

Financial assets and financial liabilities have been analysed by category below:

Carrying

value

Financial

assets at

fair

value

through

profit or

loss

Financial

assets at fair

value through

other

comprehensive

income

Liability at

a

mortised cost

Financial

asset at

amortised

cost

Fair value

hierarchy

level

£

£

£

£

£

Financial

assets

Trade & other

receivables

10,030

-

-

-

10,030

Level 2

Cash & cash

equivalents

129,309

-

-

-

129,309

Level 1

Financial

liabilities

Promissory

notes

631,779

-

-

631,779

-

Level 2

Convertible

loan notes

2,015,000

-

-

2,015,000

-

Level 2

Trade & other

payables

210,604

-

-

210,604

-

Level 2

Level 1 – Fair value determined by reference to prices in active markets for identical assets/liabilities

Level 2 – Fair value determined by reference to internal model with observable inputs

![](data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABAoAAAYSCAIAAAA+3J6kAAAACXBIWXMAABYlAAAWJQFJUiTwAAAbhklEQVR42uzaMY7DMAxFQWmhkxHQqQ3watxGZcrIUeKZAxjwd/Vg9qpqAAAArf2ZAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAADYa/zGa8wI3xIAgAe6Mt/4tF5VNgUAAJrjIgAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOSBCQAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAADAWw0TAABsNSOMgDwAAGC5Mo3AV6Ss4yIAAGCRBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAADgXMMEAAC7zQgj8BV6VVkBAABojosAAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQByYAAADkAQAAIA8AAIBXhgkAAHabEUZAHgAAsFyZRuD8jnVcBAAALPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAADgeMMEAAA3mBFG4Hy9qqwAAAA0x0UAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAADwQMMEAAC7zQgjIA8AAFiuTCNwfsc6LgIAABZ5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAcLxhAgCAG8wII3C+XlVWAAAAmuMiAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5IEJAAAAeQAAAMgDAADglWECAIDdZoQRkAcAACxXphE4v2MdFwEAAIs8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAON4wAQDADWaEEThfryorAAAAzXERAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8sAEAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB6YAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAACA3zFM8CkzwgjPdGUaAQA4k78HAADA0qvKCgAAQPP3AP7btYMTAGEgioIKqWwhVQe2tbUEEZJDzEwBgt+DvBAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAGCZZgIA2FePMALwamTKAwDw1wf4do7gchEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAAdtFMAABb6xFGAGa5q8oKAADA5XIRAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAANZq/3iNHuFbAgBwoJE58WkPomtGOvAI00AAAAAASUVORK5CYII=)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 46

15. Financial Instruments – Risk Management (Continued)

Group:

2024

£

2023

£

Cash and cash equivalents

129,309

50,243

Trade and other receivables

10,030

-

Total financial assets – amortised cost

139,339

50,243

2024

£

2023

(restated)

£

Trade and other payables

210,604

1,750,141

Loans and borrowings

2,646,779

2,150,000

Total liabilities – amortised cost

2,857,383

3,900,141

Company:

2024

£

2023

£

Cash and cash equivalents

129,309

50,243

Trade and other receivables

10,030

-

Total financial assets – amortised cost

139,339

50,243

2024

£

2023

(restated)

£

Trade and other payables

210,604

1,750,141

Loans and borrowings

2,646,779

2,150,000

Total liabilities – amortised cost

2,857,383

3,900,141

The Board has overall responsibility for the determination of the Group’s risk management objectives and

policies.

The overall objective of the Board is to set policies that seek to reduce risk as far as possible without unduly

affecting the Groups’ competitiveness and flexibility. Further details regarding these policies are set out

below:

Credit risk

The Group applies the simplified approach when measuring expected credit losses. The approach uses a

lifetime expected loss allowance. The expected loss rates are reviewed annually, or when there is a significant

change in external factors potentially impacting credit risk and are updated where management’s

expectations of credit losses change. No changes have been made to the expected loss rates during the

financial year.

Financial assets held as at year-end are as shown below (2023: £nil):

As at 31 March 2024

Current

£

More than

1 year

overdue

£

Total

£

Prepayments and accrued income

10,030

-

-

Gross carrying amount

10,030

-

10,030

![](data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABAoAAAYSCAIAAAA+3J6kAAAACXBIWXMAABYlAAAWJQFJUiTwAAAbNElEQVR42uzawQnDMBBFQSmosgVVbdjWNheRAkRCjDxTgMFfpwfbq6oBAAC09jIBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAAPBb44zfmBHeEgCAB7oyv/i1XlU2BQAAmuMiAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5IEJAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwwAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAADAUwwTAADsmRFGQB4AALBcmUbgpOJ1XAQAACzyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAA4PaGCQAAts0II3CSXlVWAAAAmuMiAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAeKBhAgCAPTPCCMgDAACWK9MInFS8josAAIBFHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAACA+xomAADYNiOMwEl6VVkBAABojosAAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAANzNMMG/zAgj8HFlGgEA+LteVVYAAACa4yIAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkgQkAAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAeLdfxyYAwCAABJtMJmRqwdlcwkrvBhDU6kEeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA+cAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAAAgDwAAAHkAAADIAwAAQB4AAADyAAAAkAcAAIA8AAAA5AEAACAPAAAAeQAAAMgDAABAHgAAAPIAAACQBwAAgDwAAADkAQAAIA8AAAB5AAAAyAMAAEAeAAAA8gAAAJAHAACAPAAAAOQBAAAgDwAAAHkAAADIAwAAQB4AAABLvB1r/Ai/BADgoKwanNZuQS1HcZJ8lQAAAABJRU5ErkJggg==)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 47

15. Financial Instruments – Risk Management (Continued)

Credit risk (Continued)

No expected credit losses have been provided against the financial assets in the current year and prior year.

Credit risk is the risk of financial loss to the Group if a counterparty to the financial instrument fails to meet

its contractual obligations. It is Group policy to assess the credit risk of new customers before entering into

contracts.

Credit risk also arises from cash and cash equivalents and deposits with banks and financial institutions. For

banks and financial institutions, only independently rated parties with high credit status are accepted.

The Group does not enter into derivatives to manage credit risk.

Group

2024

£

2023

£

Trade and other receivables

10,030

-

Cash held at Wise Payments Limited

129,309

50,243

Total financial assets

139,339

50,243

Company

2024

£

2023

£

Trade and other receivables

10,030

-

Cash held at Wise Payments Limited

129,309

50,243

Total financial assets

139,339

50,243

Market risk

Foreign exchange risk

Foreign exchange risk arises because the Group has operations in Portugal and Spain, whose functional

currency is not the same as the functional currency of the Group. The Group’s net assets arising from such

overseas operations are exposed to currency risk resulting in gains or losses on retranslation into sterling.

As of 30 June 2024, the Group’s exposure to foreign exchange risk was not material as the overseas operations

had been discontinued.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 48

15. Financial Instruments – Risk Management (Continued)

Liquidity risk

Liquidity risk arises from the Group’s management of working capital. It is the risk that the Group will

encounter difficulty in meeting its financial obligations as they fall due.

The Board will continue to monitor long term cash projections and will consider raising funds as required.

The following table sets out the contractual maturities (representing undiscounted contractual cash-flows)

of financial liabilities:

Group:

2024

Up to

3 months

£

Between

3 and 12

months

£

Between

1 and 2

years

£

Between

2 and 5

years

£

Over 5

years

£

Total

£

Trade and other payables

210,604

-

-

-

-

210,604

Borrowings

2,646,779

-

-

-

-

2,646,779

Total

2,857,383

-

-

-

-

2,857,383

2023 (restated)

Up to

3 months

£

Between

3 and 12

months

£

Between

1 and 2

years

£

Between

2 and 5

years

£

Over 5

years

£

Total

£

Trade and other payables

1,750,141

-

-

-

-

1,750,141

Borrowings

2,150,000

-

-

-

-

2,150,000

Total

3,900,141

-

-

-

-

3,900,141

More details in regard to the line items are included in the respective notes:

x Trade and other payables – note 13

x Loan and borrowings – note 14

At the balance sheet date, the Group had liabilities due for settlement within 3 months of £2,857,383,

compared to a cash balance of £129,309.

£2,015,000 of borrowings re convertible loan notes and £631,779 of promissory notes which are to be settled

by way of an issue of share capital.

The Group monitors capital which comprises all components of equity (i.e. share capital, share premium and

accumulated deficit).

The directors are aware of the need for the Group to obtain capital in order to fund the growth of the business

and are in continual discussions with providers of both debt and equity capital. The directors regularly review

the status of such discussions and aim at all times to have offers of capital funding available to the Company

which more than exceed the needs of the Company over the coming period.

In the medium term and in addition to the need to safeguard the entity’s ability to continue as a going

concern, the directors are aware of the views of members on certain financing structures and therefore have

set an objective to move towards a conventional, simplified capital structure based on equity capital.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 49

15. Financial Instruments – Risk Management (Continued)

Further details about the directors’ assessment of the Group’s ability to continue as a going concern and

the key considerations there to are set out in the Corporate Governance Report on pages 8 to 13.

At present the directors do not intend to pay dividends but will reconsider the position in future periods, as

the Group becomes profitable.

16. Prior period adjustment

During the preparation of these financial statements, the Group identified an error where fees incurred on

the draw down of convertible loan notes were omitted from the accounting records and financial statements

in the prior year. As a result of this error, convertible loan notes, reported within loans and borrowings in the

Consolidated Statement of Financial Position, were understated by £210,000. Legal and waiver fees reported

within administrative expenses in the Consolidated Statement of Comprehensive Income were also

understated by £210,000.

The table below summarises the effect of the correction of the prior period error on the financial statement.

Impact on Consolidated Statement of Financial Position

As at 30 June 2023

As previously reported

Adjustment to correct

error

Restated balance

£

£

£

Liabilities

Current liabilities

Loans and borrowings

(1,940,000)

(210,000)

(2,150,000)

Equity

Accumulated losses

(16,521,181)

(210,000)

(16,731,181)

Impact on Consolidated Statement of Profit or Loss and Other Comprehensive Income

For the year ended 30 June 2023

As previously reported

Adjustment to correct

error

Restated balance

£

£

£

Administration

expenses

4,768,579

(210,000)

4,558,579

Profit before taxation

4,768,579

(210,000)

4,558,579

The above errors have been corrected by restating the affected amounts in the prior period financial

statements, as if the errors had never occurred in accordance with IAS 8. The restated figures are reflected

in the comparative amounts for the period ended 30 June 2023 in these financial statements.

17. Capital commitments

The Group had no capital commitments at 30 June 2024 or 30 June 2023.

18. Related party Transactions

Details of Directors’ remuneration are given in the Remuneration Committee Report on pages 14-15.

![](data:image/png;base64,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)

ICONIC LABS PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page 50

19. Contingent Liabilities

The Company has contingent liabilities amounting to £255,000 that are payable to advisors upon completion

of the reverse takeover and re-admission to trading. Should the reverse takeover not be successful, this

amount is not payable.

The Group had no contingent liabilities at 30 June 2023.

20. Ultimate Controlling Party

The Directors do not consider that there is an ultimate controlling party of Iconic Labs Plc.

21. Reconciliation of movement in net (debt)/cash

Net debt at 01

July 2023

Cash flow

Non-

cash change

in loan notes

Repayment of

borrowings

(continuing

activities)

Conversion of

loan notes to

equity

Net cash

at 30 June 2024

£

£

£

£

£

£

Cash at bank and in

hand

50,243

79,066

-

-

-

129,309

Borrowings

(2,150,000)

(881,779)

(260,000)

-

435,000

(2,646,779)

Total financial

liabilities

(2,099,757)

(802,713)

(260,000)

-

435,000

(2,517,470)

22. Subsequent Events

On 29 July 2024, the Listing Rules were replaced by the UK Listing Rules (“UKLR”) under which the existing

Standard Listing category was replaced by the Equity Shares (shell companies) category under Chapter 13 of

the UKLR as it applied to the Company. Consequently, with effect from that date the Company is admitted

to Equity Shares (shell companies) category of the Official List under Chapter 13 of the UKLR and to trading

on the London Stock Exchange’s Main Market for listed securities.

Net

debt at 01

July 2022

Cash flow

Non-

cash change

in loan notes

Repayment of

borrowings

(continuing

activities)

Conversion of

loan notes to

equity

Net cash

at 30 June 2023

(restated)

(restated)

£

£

£

£

£

£

Cash at bank and in

hand

5

50,238

-

-

-

50,243

Borrowings

(2,415,000)

(970,000)

705,000

-

530,000

(2,150,000)

Total financial

liabilities

(2,414,995)

(919,762)

705,000

-

530,000

(2,099,757)