Tobii UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Chapel Street
Warwick
Warwickshire
CV34 4HL
United Kingdom

Principal activity

The principal activity of the Company is the provision of technology and consulting solutions related to eye tracking in the UK and Ireland.

These financial statements were authorised for issue by the Board on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A -'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tobii UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	3 years straight line
Leasehold improvements	5 years straight line
Demo units	2 years straight line

Tobii UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Financial instruments

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

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 found, an impairment loss is recognised in profit or loss.

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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Bad debt provision

A provision is made in the company's customer accounts against outstanding invoices which may not be collectable. It ensures that future period's results will not be adversely impacted if debts need to be written off. The bad debt provision is calculated on a monthly basis and is posted to the financial statements based on the age of the debtor.

Tobii UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the
risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease
and the present value of the minimum lease payments. These assets are depreciated on a straight-line
basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to
the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction
of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of
the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share based payments

The Company operates a stock unit compensation plan to certain employees, under which the employees receive shares in the company's parent undertaking. Restricted stock unit arrangements are measured at fair value at the date of grant with cash settled restricted stock units subsequently remeasured to the fair value at each reporting date. The fair value is expensed on a straight-line basis over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. The amount recognised as an expense is adjusted to reflect the actual number of restricted stock units that will vest.

Tobii UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

3	Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4	Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 30 September 2025 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5	Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 6 (2023 - 5).

6	Tangible assets

	Short leasehold land and buildings £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	116,288	18,444	134,732
Disposals	(116,288)	(5,685)	(121,973)
At 31 December 2024	-	12,759	12,759
Depreciation
At 1 January 2024	116,288	18,444	134,732
Eliminated on disposal	(116,288)	(5,685)	(121,973)
At 31 December 2024	-	12,759	12,759
Carrying amount
At 31 December 2024	-	-	-

Tobii UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Debtors

Current	Note	2024 £	2023 £
Trade debtors		256,443	426,149
Amounts owed by related parties		402,812	172,214
Other debtors		14,535	5,060
		673,790	603,423

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		2,225	-
Amounts owed to Group undertakings and undertakings in which the Company has a participating interest		8,038	36,882
Taxation and social security		42,128	56,886
Accruals and deferred income		275,029	267,942
Other creditors		28,627	44,097
		356,047	405,807

9	Share-based payments

Restricted stock unit plan

Scheme details and movements

Tobii AB (the parent company of Tobii UK Limited) operates a restricted stock unit long term incentive scheme for employees of the group. The restricted stock units granted under the plan have differing vesting periods with vesting conditions being various performance conditions and continued employment.

If employment is terminated unless under exceptional circumstances the stock units which have not vested will lapse automatically on the date of termination of employment.

Where equity settled, fair values of the restricted stock units are equal to the closing share price on Nasdaq Stockholm at the grant date.

Where cash settled, fair values of the restricted stock units are reassessed at each reporting date.

During the year there was a rights issue made by Tobii AB. To ensure that this did not dilute the value of the Restricted share units held by the employees, this number of stock units granted to the employees was increased by a factor of 1.21, in line with the rights issue. This did not affect the value of the scheme.

Tobii UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

10	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	39	39	39	39
Preference shares of £1 each	1	1	1	1
	40	40	40	40

11	Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	20,188	48,450
Later than one year and not later than five years	-	20,188
	20,188	68,638

12

Dividends

There were no dividends paid or proposed in either the current year or the previous year.

13	Parent and ultimate parent undertaking

The Company's immediate parent is Tobii Pro UK Holdings Limited, incorporated in United Kingdom.

 The ultimate parent is Tobii AB (publ.), incorporated in Sweden.

  These financial statements are available upon request from Box 743, S-182 17 Danderyd, Sweden. This is the largest and smallest company preparing consolidated financial statements.