The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

Beacon Platform Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lower Ground Floor Offices, Manning House, 22 Carlisle Place, London, SW1P 1JA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements have been prepared on a basis other than going concern. Following the change of ownership of the company in April 2025, as described in note 8, it is the directors’ intention that the trade and assets of the company will be transferred to a fellow group company and then for this company to be liquidated. Thus the directors do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised on an accruals basis in line with the cost plus agreement in place with the parent company. It is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

The tax expense represents the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

The costs of short-term employee benefits are recognised as a liability and an expense.

Holiday entitlement is unlimited therefore the directors have accrued the cost of any unused holiday entitlement up to the statutory minimum.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to the share-based payment reserve.

Upon exercise of options granted to employees the expense is accelerated to recognise the difference between the fair value equity instruments and the expense recognised to date. In addition to this, a transfer is made between the share-based payment reserve and profit and loss reserve representing the expense recognised over the life of any exercised options.

Rentals payable under operating leases are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

The average monthly number of persons employed by the company during the year was:

The company has entered into a number of options scheme with certain employees.

The options outstanding at 31 December 2024 had an exercise price ranging from $0.33 to $6.30. The expiry dates range from 13 June 2026 to 20 November 2034.

The options have a vesting period of 25% cliff year 1 and quarterly vesting over ensuing 3 years.

The directors have estimated the fair value of the options at the respective grant dates using a Black Scholes Model. As part of this they estimate the inputs for the expected life of the options, volatility and risk free interest rate.

The charge to the profit and loss account for the year, which is included within admin expenses, is £201,585 (2023: £163,328).

Some options were exercised in the period. There was a corresponding transfer from share based payment reserves to the profit and loss reserves of £21,635 (2023: £6,791).

The scheme is part of a group plan with employees having options in the parent company.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

On 29 April 2025 the ultimate parent company, Beacon Platform Inc, and its subsidiaries including Beacon Platform Limited have been acquired by Clearwater Analytics LLC. Please see note 9 for further detail.

During the year the parent company and ultimate controlling party was Beacon Platform Incorporated, incorporated in the USA. Its registered address is 5 Hanover Square, New York, NY 10004.

Subsequent to the end of the year Beacon Platform Incorporated changed its name to Beacon Platform LLC.

After the acquisition discussed in note 8 the new ultimate controlling party is Clearwater Analytics Holdings, Inc. It's registered address is 777 West Main Street, Suite 900, Boise, ID 83702.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Emphasis of matter - financial statements prepared on a basis other than going concern

We draw attention to note 1.2 of the financial statements which explains that the directors intend to liquidate the company, following the intended transfer of its trade and assets to a fellow group entity. Accordingly, the financial statements have been prepared on a basis other than going concern. Our opinion is not modified in respect of this matter.