1

General information

Overwolf UK Limited is a private company limited by shares and incorporated in England and Wales.

The company's registered number is: 13918169

The address of the company's registered office is:

Going concern

2

Accounting policies

Taxation

Income 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 profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing 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. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

Investments

Trade and other debtors

Trade and other creditors

Foreign currencies

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is identified, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and its recoverable amount, which is an estimate of the amount that the company would receive for the asset if it were to be sold at the reporting date.

3

Employees

2024

2023

Number

Number

The average monthly number of employees (including directors) during the year was:

4

Investments

Other investments

Total

£

£

Cost or valuation

At 1 January 2024 (Restated)

Additions

At 31 December 2024

Provisions/Impairment

Net book values

At 31 December 2024

At 31 December 2023 (Restated)

The investment in subsidiary company represents the whole share capital of Tebex Limited, a trading company registered in England & Wales.

5

Creditors:

amounts falling due within one year

2024

2023

£

£

Accruals and deferred income

6

Share Capital

The company has 6 ordinary shares of £1 each, amounting to a total share capital of £6 (2023: 6 ordinary shares of £1 each).

7

Reserves

The company's reserves are comprised as follows:

8

Related party transactions

Control:

The company's immediate and ultimate parent undertaking, and the smallest and largest group in which the company's results are consolidated, is Overwolf Ltd, a private company incorporated and registered in Israel. Copies of Overwolf Ltd's consolidated financial statements can be obtained from its registered office at 40 Tuval Street, Ramat Gan, 5252247, Israel.

Transactions:

The company is exempt from disclosing transactions with related parties that are wholly owned within the same group in accordance with FRS 102 Section 33.

9

Prior period adjustment

An error relating to the valuation of investments was identified during the year. The error has been corrected by restating the comparative figures.

Consequently, investments increased by £4,640,590 and intercompany debtors decreased by £4,640,590 for the year ended 31 December 2023.