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Company registration number: 09425439
| FINANCIAL STATEMENTS
| FOR THE PERIOD ENDED 31 DECEMBER 2024
| SPACE HEROES LIMITED
SPACE HEROES LIMITED |  |
COMPANY INFORMATION
Directors | K Boyle
| J Greenwood
Registered number | 09425439
Registered office | 26 Science Park
| Milton Road
| Cambridge
| CB4 0FP
Independent auditor | Menzies LLP
| Chartered Accountants & Statutory Auditor
| Midas House
| 62 Goldsworth Road
| Woking
| Surrey
| GU21 6LQ
SPACE HEROES LIMITED |  |
CONTENTS
| Page
Statement of financial position | 1
Statement of changes in equity | 2
Notes to the financial statements | 3 - 8
SPACE HEROES LIMITED REGISTERED NUMBER:09425439 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 31 December |  | Unaudited As restated 30 April
|  | 2024 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 7,510 |  | 18,782
Investments | 5 |  | 8 |  | 8
|  |  | 7,518 |  | 18,790
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 63,553 |  | 234,818 |
Cash at bank and in hand |  | 445,834 |  | 500,410 |
|  | 509,387 |  | 735,228 |
Creditors: amounts falling due within one year | 7 | (442,824) |  | (510,059) |
Net current assets |  |  | 66,563 |  | 225,169
Total assets less current liabilities |  |  | 74,081 |  | 243,959
Net assets |  |  | 74,081 |  | 243,959
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 125 |  | 103
Share premium account |  |  | 63,737 |  | 34,296
Share option reserve |  |  | - |  | 54,985
Profit and loss account |  |  | 10,219 |  | 154,575
|  |  | 74,081 |  | 243,959
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ K Boyle
Director
Date: 17 September 2025
The notes on pages 3 to 8 form part of these financial statements. Page 1

SPACE HEROES LIMITED
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 DECEMBER 2024
|  | Called up share capital | Share premium account | Share-based payment reserve | Profit and loss account | Total equity
|  | £ | £ | £ | £ | £
| At 1 May 2023 | 100 | 33,990 | - | 109,915 | 144,005
| Comprehensive income for the year |  |  |  |  |
| Profit for the year | - | - | - | 44,660 | 44,660
| Shares issued during the year | 3 | 306 | - | - | 309
| Share based payment charge | - | - | 54,985 | - | 54,985
| At 1 May 2024 (as previously stated) | 103 | 34,296 | - | 154,575 | 188,974
| Prior year adjustment - correction of error | - | - | 54,985 | - | 54,985
| At 1 May 2024 (as restated) | 103 | 34,296 | 54,985 | 154,575 | 243,959
| Comprehensive income for the period |  |  |  |  |
| Loss for the period | - | - | - | (217,817) | (217,817)
| Shares issued during the period | 22 | 29,441 | - | - | 29,463
| Share based payment charge | - | - | 18,476 | - | 18,476
| Share options reserve movement | - | - | (73,461) | 73,461 | -
| At 31 December 2024 | 125 | 63,737 | - | 10,219 | 74,081
| The notes on pages 3 to 8 form part of these financial statements.
Page 2

SPACE HEROES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
1. | General information
Space Heroes Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of its registered office and principal place of business is disclosed on the company information page. The presentation currency of the financial statements is the Pound Sterling (£). 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
The directors intend to transfer the trade and assets of Space Heroes Limited to the parent company as part of a corporate restructuring. As a result, the financial statements have been prepared on a basis other than going concern. All assets and liabilities have been reviewed and stated at their net realisable value, with no adjustments required as a result.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
SPACE HEROES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Group and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The Group offers a subscription model, the subscriptions are agreements with customers to provide access to software. The revenue is recognised as a service over the subscription period.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Page 4
SPACE HEROES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | Share-based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted forfailure to achieve a market vesting condition. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one orother of the parties (such as the Group keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period. Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line or reducing balance basis. The estimated useful lives range as follows:
|  |  |  | Plant and machinery | - | 20 | % reducing balance
|  |  |  | Fixtures and fittings | - | 15 | % reducing balance
|  |  |  | Computer equipment | - | 3 | years on a straight line basis.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 5
SPACE HEROES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
3. | Employees
| The average monthly number of employees, including the directors, during the period was as follows:
|  |  | 8 months ended 31 December | 12 months ended 30 April
|  |  | 2024 | 2024
|  |  | No. | No.
|  | Employees | 1 | 1
|  | Directors | 2 | 1
|  |  | 3 | 2
4. | Tangible fixed assets
|  | Plant and machinery | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 May 2024 (unaudited) | 3,552 | 2,551 | 24,955 | 31,058
| Disposals | (2,275) | (622) | (8,040) | (10,937)
| At 31 December 2024 | 1,277 | 1,929 | 16,915 | 20,121
| Depreciation |  |  |  |
| At 1 May 2024 (unaudited) | 927 | 1,362 | 9,987 | 12,276
| Charge for the period on owned assets | 235 | 105 | 4,279 | 4,619
| Disposals | (667) | (352) | (3,265) | (4,284)
| At 31 December 2024 | 495 | 1,115 | 11,001 | 12,611
| Net book value |  |  |  |
| At 31 December 2024 | 782 | 814 | 5,914 | 7,510
| At 30 April 2024 (unaudited) | 2,625 | 1,189 | 14,968 | 18,782
Page 6
SPACE HEROES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 May 2024 (unaudited) | 8
| At 31 December 2024 | 8
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| Clayton Technologies Inc | 8 The Green #10959 Dover, Delaware 19901, USA | Ordinary | 100%
6. | Debtors
|  |  |  |  | 31 December | Unaudited 30 April
|  |  |  |  | 2024 | 2024
|  |  |  |  | £ | £
| Trade debtors | 35,592 | 36,152
| Amounts owed by group undertakings | 270 | 164,544
| Other debtors | 23,333 | 5,126
| Prepayments and accrued income | 4,358 | 28,996
|  | 63,553 | 234,818
Page 7
SPACE HEROES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 31 December | Unaudited 30 April
|  |  |  |  | 2024 | 2024
|  |  |  |  | £ | £
| Trade creditors | 364 | 17,379
| Amounts owed to group undertakings | 61,242 | -
| Other taxation and social security | - | 4,408
| Other creditors | 9,958 | 4,555
| Accruals and deferred income | 371,260 | 483,717
|  | 442,824 | 510,059
8. | Prior year adjustment
There have been two prior year adjustments performed relating to the period 1 May 2023 to 30 April 2024. The first is a reclassification of administrative expenses relating to consultancy costs that were previously classified within staff wages. This adjustment was for £201,026 and had no net impact on the retained earnings brought forward. The second relates to the share options reserve with the share based payment charge now being included in the prior year increasing the administrative expenses. This has reduced the profit for the year ending 30 April 2024 from £99,645 to £44,660 leading to a decrease in the retained earnings brought forward of £54,985.
9. | Controlling party
The parent of the smallest group for which consolidated financial statements are drawn up is Gearset Limited. The address of their registered office is: 26 Science Park, Milton Road, Cambridge, CB4 0FP.
10. | Auditor's information
The auditor's report on the financial statements for the period ended 31 December 2024 was unqualified. The audit report was signed on 17 September 2025 by Tom Woods FCA (Senior statutory auditor) on behalf of Menzies LLP.
Page 8