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Company No: 12280705 (England and Wales)

# LINKEXEC LTD

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

LINKEXEC LTD

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

LINKEXEC LTD

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
LINKEXEC LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 31.03.2025 |  | 31.03.2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 4 | 2,267,358 |  | 1,673,866
Tangible assets | 5 | 29,081 |  | 26,884
|  | 2,296,439 |  | 1,700,750
Current assets |  |  |  |
Debtors | 6 | 879,223 |  | 609,429
Cash at bank and in hand |  | 1,520,894 |  | 220,065
|  | 2,400,117 |  | 829,494
Creditors: amounts falling due within one year | 7 | ( 5,141,680) |  | ( 2,714,452)
Net current liabilities |  | (2,741,563) |  | (1,884,958)
Total assets less current liabilities |  | (445,124) |  | (184,208)
Creditors: amounts falling due after more than one year | 8 | ( 1,000) |  | ( 7,000)
Net liabilities |  | ( 446,124) |  | ( 191,208)
Capital and reserves |  |  |  |
Called-up share capital | 9 | 3,221 |  | 3,040
Share premium account |  | 7,024,573 |  | 6,010,715
Other reserves |  | 1,958,213 |  | 0
Profit and loss account |  | ( 9,432,131 ) |  | ( 6,204,963 )
Total shareholders' deficit |  | ( 446,124) |  | ( 191,208)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of LinkExec Ltd (registered number: 12280705) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R Samuel Director |

03 October 2025

LINKEXEC LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
LINKEXEC LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

##### General information and basis of accounting

LinkExec Ltd (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

##### Going concern

At the reporting date, the company had net liabilities of £446,124. However, subsequent to the year end, the company has secured additional funding, providing sufficient resources to meet its working capital requirements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Reporting period length

The reporting period covered by these financial statements is for the year to 31 March 2025. The comparative figures presented relate to the 17 month period to 31 March 2024 and are therefore not entirely comparable.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover 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.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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

##### Share-based payment

The fair value of equity-settled share based payments to employees is determined at the date of grant and is expensed on a straight-line basis over the vesting period based on the company’s estimate of shares or options that will eventually vest.
When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets | 5 years straight line

###### Other intangible assets

Other intangible assets, including platform development costs, are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 3 years straight line

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.

##### Leases

The company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

##### Financial instruments

The company only enters into basic financial instruments and transactions 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
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.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and accruals, 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.
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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

#### 2. Employees

| Year ended 31.03.2025 |  | Period from 01.11.2022 to 31.03.2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 69 |  | 43

#### 3. Share-based payments

Equity-settled share-based payment schemes

The company has granted options to certain employees and other individuals to subscribe for Ordinary shares in the company under the terms of both an Enterprise Management Incentive (EMI) scheme and an unapproved share option scheme.

Details of the share options outstanding during the financial year are as follows:

| 31.03.2025 |  | 31.03.2024
| Weighted Average |  | Weighted Average
| Number of share options | Average exercise price (£) |  | Number of share options | Average exercise price (£)
Outstanding at beginning of period | 15,809 | 0.01 |  | 0 | 0
Granted during the period | 0 | 0 |  | 17,967 | 0.01
Forfeited during the period | ( 50) | 0.01 |  | ( 2,158) | 0.01
Outstanding at the end of the period | 15,759 | 0.01 |  | 15,809 | 0.01
Exercisable at the end of the period | 0 | 0 |  | 0 | 0

The principal condition is that options under the EMI scheme lapse after the tenth anniversary of the date of grant, while options under the non-EMI scheme lapse after twenty years from the date of grant. In addition, all options have vesting conditions that are conditional on the company’s exit event. For options under the EMI scheme, the number of options that vest is tied to the number of years of employment the holder has had with the company at the date of exit. All options are settled through equity.

#### 4. Intangible assets

| Other intangible assets |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 2,452,110 |  | 2,452,110
Additions | 1,163,459 |  | 1,163,459
At 31 March 2025 | 3,615,569 |  | 3,615,569
Accumulated amortisation |  |  |
At 01 April 2024 | 778,244 |  | 778,244
Charge for the financial year | 569,967 |  | 569,967
At 31 March 2025 | 1,348,211 |  | 1,348,211
Net book value |  |  |
At 31 March 2025 | 2,267,358 |  | 2,267,358
At 31 March 2024 | 1,673,866 |  | 1,673,866

#### 5. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 50,650 |  | 50,650
Additions | 19,430 |  | 19,430
At 31 March 2025 | 70,080 |  | 70,080
Accumulated depreciation |  |  |
At 01 April 2024 | 23,766 |  | 23,766
Charge for the financial year | 17,233 |  | 17,233
At 31 March 2025 | 40,999 |  | 40,999
Net book value |  |  |
At 31 March 2025 | 29,081 |  | 29,081
At 31 March 2024 | 26,884 |  | 26,884

#### 6. Debtors

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Corporation tax | 88,048 |  | 213,355
Other debtors | 791,175 |  | 396,074
| 879,223 |  | 609,429

#### 7. Creditors: amounts falling due within one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Bank loans | 6,000 |  | 6,000
Trade creditors | 839,492 |  | 162,071
Other taxation and social security | 383,840 |  | 484,117
Other creditors | 3,912,348 |  | 2,062,264
| 5,141,680 |  | 2,714,452

For details regarding the company's bank loan, see creditors falling due after more than one year.

#### 8. Creditors: amounts falling due after more than one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Bank loans | 1,000 |  | 7,000

The company's bank loan is guaranteed by the government, bears interest at 2.5% per annum and is repayable on 19 May 2026.

#### 9. Called-up share capital

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
321,970 Ordinary shares of £ 0.01 each (31.03.2024: 303,914 shares of £ 0.01 each) | 3,221 |  | 3,040

During the year, the company issued 18,056 shares of £0.01 each for a total consideration of £1,014,039.
Subsequent to the year end, 38,250 shares of £0.01 each were issued for a total consideration of £3,055,410. Of which, £1,958,213 was received during the year in respect of irrevocable share subscription agreements entered into during the financial year. As such, these proceeds have been recognised in other reserves.

#### 10. Related party transactions

At the reporting date, the company was owed £9,494 (2024 - £3,746) by a director.