REGISTERED NUMBER: 06149612 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

MOBILEUM UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Riputapan Singh

SECRETARY:

Oakwood Corporate Secretary Ltd

REGISTERED OFFICE:

3rd Floor

1 Ashley Road

Altrincham

Cheshire

WA14 2DT

REGISTERED NUMBER:

06149612 (England and Wales)

AUDITORS:

Richardson Swift Audit Ltd

Chartered Accountants

Statutory Auditor

11 Laura Place

Bath

BA2 4BL

FIXED ASSETS

Tangible assets

4

2,196

9,796

CURRENT ASSETS

Debtors

5

912,465

1,198,835

Cash at bank and in hand

546,840

503,443

1,459,305

1,702,278

CREDITORS

Amounts falling due within one year

6

2,863,641

3,035,813

NET CURRENT LIABILITIES

(1,404,336

)

(1,333,535

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,402,140

)

(1,323,739

)

CAPITAL AND RESERVES

Called up share capital

8

3,608

3,608

Share premium

2,527,060

2,527,060

Retained earnings

(3,932,808

)

(3,854,407

)

SHAREHOLDERS' FUNDS

(1,402,140

)

(1,323,739

)

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 director and authorised for issue on 30 September 2025 and were signed by:

Riputapan Singh - Director

1.	STATUTORY INFORMATION

Mobileum 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.

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.

As at the balance sheet date the company had retained losses, and a loss was made in the period. The company is dependent on group support and the parent company, Mobileum Inc, has confirmed their support. On this basis the directors are satisfied that the company remains a going concern and the financial statements have been prepared on a going concern basis.

Turnover

Revenue is recognised to the extent that it is probably that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- The amount of revenue can be measured reliably;

- It is probable that the company will receive the consideration due under the contract;

- The stage of completion of the contract can be measured reliably; and

- The costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Office furniture and property improvements

-

at varying rates on cost

Computer equipment

-

33% on cost

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 debtors, loans from banks and other third parties.

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 the income statement.

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 determined under the contract.

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

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is capitalised in full on the initial recognition of the assets.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Office

furniture

and

property

Computer

improvements

equipment

Totals

£

£

£

COST

At 1 January 2024

187,955

294,734

482,689

Additions

-

1,488

1,488

Disposals

(187,955

)

(245,444

)

(433,399

)

At 31 December 2024

-

50,778

50,778

DEPRECIATION

At 1 January 2024

187,955

284,938

472,893

Charge for year

-

7,600

7,600

Eliminated on disposal

(187,955

)

(243,956

)

(431,911

)

At 31 December 2024

-

48,582

48,582

NET BOOK VALUE

At 31 December 2024

-

2,196

2,196

At 31 December 2023

-

9,796

9,796

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

401,018

784,630

Amounts owed by group undertakings

33,449

29,011

Other debtors

477,998

385,194

912,465

1,198,835

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

24,137

35,266

Amounts owed to group undertakings

2,193,025

2,341,197

Taxation and social security

90,886

72,153

Other creditors

555,593

587,197

2,863,641

3,035,813

7.	DEFERRED TAX

£

Balance at 1 January 2024

(35,192

)

RDEC Credit

(4,384

)

Balance at 31 December 2024

(39,576

)

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

360,784

Ordinary

£0.01

3,608

3,608

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

The Report of the Auditors was unqualified.

Catherine Edwards BSc FCA (Senior Statutory Auditor)

for and on behalf of Richardson Swift Audit Ltd

10.	RELATED PARTY DISCLOSURES

At the period end, Mobileum UK Limited owed the direct parent company, Mobileum UK Holdings Limited a balance of £344,479 (2023: £339,211). The loan was interest free and repayable on demand.

At the period end, Mobileum UK Limited owed the indirect parent company, Mobileum Inc a balance of £1,841,507 (2023: £1,994,947). The loan was interest free and repayable on demand.

The financial statements of Mobileum UK Limited are consolidated into the financial statements of , Reorganized Mobileum Grandparent, LLC, who's head office is located at 20813, Suite #200, Stevens Creek Boulevard, Cupertino, CA-95014, USA & registered office address is 1209 Orange Street, Wilmington, New Castle County, Delaware 19801

11.	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In determining the appropriate recognition of revenue from contracts which include a number of different elements, the directors need to exercise judgement and estimate the appropriate timing and split of revenue. This is considered a significant accounting estimate and area of judgement.

There are no other significant judgements or key assumptions which have had to be made by the directors in preparing these financial statements.

12.	OPERATING LEASE COMMITMENTS

At the period end, the total of future minimum lease payments under non-cancellable operating leases was £nil (2023: £7,776).