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REGISTERED NUMBER: 13574844 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SHIPBOB UK LIMITED

| SHIPBOB UK LIMITED (REGISTERED NUMBER: 13574844) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

| Company information | 1 |

| Balance sheet | 2 |

| Notes to the financial statements | 3 |

| SHIPBOB UK LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| Directors: | Divey Gulati

| Dhruv Saxena

| Registered office: | Suite 2 First Floor

| 10 Temple Back

| Bristol

| United Kingdom

| BS1 6FL

| Registered number: | 13574844 (England and Wales)

| Auditors: | Hayvenhursts Limited

| Fairway House

| Links Business Park

| St Mellons

| Cardiff

| CF3 0LT

| SHIPBOB UK LIMITED (REGISTERED NUMBER: 13574844) |

BALANCE SHEET

31 DECEMBER 2024

2024 | 2023 |

| Notes | £ | £

FIXED ASSETS

Tangible assets | 4 | - |  | 4,142 |  |

CURRENT ASSETS

Debtors | 5 | 164,864 |  | 70,197 |  |

Cash at bank | 3,978,756 |  | 4,853,429 |  |

4,143,620 |  | 4,923,626 |  |

CREDITORS

Amounts falling due within one year | 6 | (3,866,330 | ) | (4,779,891 | ) |

NET CURRENT ASSETS | 277,290 |  | 143,735 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 277,290 |  | 147,877 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Other reserves | 21,280 |  | 13,173 |  |

Retained earnings | 255,910 |  | 134,604 |  |

SHAREHOLDERS' FUNDS | 277,290 |  | 147,877 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

Divey Gulati - Director

| SHIPBOB UK LIMITED (REGISTERED NUMBER: 13574844) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Shipbob UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£)

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

| Turnover represents amounts charged to the Company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

| Tangible fixed assets

| Tangible fixed assets held for the company's own use are stated at historical cost less accumulated depreciation and accumulated impairment losses.

| Depreciation is provided at the following annual rates on a straight-line basis in order to write off each asset over its estimated useful life.

| Computer equipment - 33% on cost (over 3 years)

| Financial instruments

| The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

| Financial assets and liabilities are offset and the net amount reported in the balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Short-term debtors and creditors

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment of debtors are recognised in the statement of profit and loss in administrative expenses.

| Cash and cash equivalents

| Cash and cash equivalents on the balance sheet comprise cash at the bank, cash in hand and short-term deposits.

| Stock option expense

| Judgement and estimation are required in determining the fair value of shares at the date of award. The fair value is estimated using valuation techniques which take into account the award's term, the risk-free interest rate and the expected volatility of the market price of the parent company's shares. Judgement and estimation are also required to assess the number of options expected to vest.

| SHIPBOB UK LIMITED (REGISTERED NUMBER: 13574844) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 21 (2023 - 10 ) .

4. | TANGIBLE FIXED ASSETS

Computer |

equipment |

| £

| Cost

| At 1 January 2024

| and 31 December 2024 | 16,528 |  |

| Depreciation

| At 1 January 2024 | 12,386 |  |

| Charge for year | 4,142 |  |

| At 31 December 2024 | 16,528 |  |

| Net book value

| At 31 December 2024 | - |  |

| At 31 December 2023 | 4,142 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

| £ | £

| Other debtors | 164,864 |  | 70,197 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

| £ | £

| Trade creditors | 105,013 |  | 5,305 |  |

| Amounts owed to group undertakings | 3,532,905 |  | 4,607,438 |  |

| Taxation and social security | 109,424 |  | 66,260 |  |

| Other creditors | 118,988 |  | 100,888 |  |

3,866,330 |  | 4,779,891 |  |

7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the auditors was unqualified.

| Gareth Williams (Senior Statutory Auditor)

| for and on behalf of Hayvenhursts Limited

8. | PENSION COMMITMENTS

| The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund.

| The pension cost charge represents contributions payable by the Company to the fund and amounted to £62,739 (2023 : £35,305). Contributions totalling £16,147 (2023: £6,076) were payable to the fund at the balance sheet date and are included in creditors.

9. | ULTIMATE CONTROLLING PARTY

| Shipbob, Inc is the company's immediate and ultimate parent company, which is registered in the United States of America.

| The largest and smallest group in which the results of the Company are consolidated is that headed by Shipbob, Inc with its principal place of business at 120 N Racine Ave#100, Chicago, Illinois 60607, USA.