REGISTERED NUMBER: 10052820 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

SNAPLOGIC UK LIMITED

Page

Company information

1

Strategic report

2

Report of the director

3

Report of the independent auditors

4

Income statement

7

Other comprehensive income

8

Balance sheet

9

Statement of changes in equity

10

Notes to the financial statements

11

Director:

Mr A M A Malik

Registered office:

67 Clerkenwell Road

London

England

United Kingdom

EC1R 5BL

Registered number:

10052820 (England and Wales)

Auditors:

Zome Audit Limited (Statutory Auditor)

5th Floor

111 Charterhouse Street

London

EC1M 6AW

SnapLogic UK LTD ("SnapLogic") is a wholly owned subsidiary of SnapLogic Inc., the parent company registered in the United States of America.

Overview of business

SnapLogic builds and provides software to enable data and application integration services to customers of various industries all around the world. Using the latest technologies of Generative Artificial Intelligence and Large Language Models, we help customers move data fast and efficiently. With our powerful and easy-to-use platform, our customers are able to automate manual processes and streamline business workflows.

Principal risks and uncertainties

As with any other company, we are exposed to risks and uncertainties in our business, including the risk factors set forth below:

Macroeconomic conditions risk

Adverse macroeconomic conditions and deterioration in the global economic environment, such as further economic slowdown in the markets in which we operate may lead to a reduction in the level of demand from new and existing customers for our products and services.

Operational risks

We face risks related to cybersecurity threats and system failures which could impact service delivery. This risk is mitigated by implementing the latest security and privacy measures.

Financial risks

Our principal financial instruments comprise of bank balances, trade debtors, related party debtors, trade creditors and related party creditors. The main purpose of these instruments is to maintain sufficient liquidity to finance our operations.

Working capital requirements are funded primarily by trading out of our bank balances and parental company support.

Key performance indicators

The key financial and other performance indicators during the period, for the company, were as follows:

2025

2024

Change

£'000

£'000

%

Turnover

16,452

14,958

15

Operating profit

758

681

0.77

Profit after tax

626

684

-0.58

Profit and loss reserves

723

96

6.26

Current assets as % of current liabilities (quick ratio)

109%

102%

7

Average number of employees

54

61

-7

Operating profit and profit after tax are used to track the underlying performance of the business.

Business model

SnapLogic provides software-as-a-service on a subscription basis as our primary revenue stream. Our customer base includes medium to large-sized companies across various industries including, education, manufacturing, banking, healthcare, and many others. We also provide supporting professional services to help our customers enable the software we provide.

Market position

SnapLogic has been a leading innovator in the space and taking market share as a company growing faster than our market over the past several years. This is evidenced by our strong position with a customer set of leading global corporations as well as our assessment by 3rd party analysts of our space. Most recently Gartner recognized SnapLogic as a Visionary in its 2024 Magic Quadrant for Integration Platform as a Service.

On behalf of the board:

Mr A M A Malik - Director

27 October 2025

The director presents his report with the financial statements of the company for the year ended 31 January 2025.

Principal activity

The principal activity of the company in the year under review was that of reselling Snaplogic Inc enterprise integration platform as a service (iPaaS).

Dividends

No dividends will be distributed for the year ended 31 January 2025 (2024: Nil).

Director

Mr A M A Malik held office during the whole of the period from 1 February 2024 to the date of this report.

Going concern

These accounts have been prepared on the going concern basis, on the understanding that Snaplogic, Inc. will continue to financially support the company.

Statement of director's responsibilities

The director is responsible for preparing the Strategic report, the Report of the director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

The auditors, Zome Audit Limited (Statutory Auditor), is deemed to be reappointed under section 487(2) of the Companies Act 2006.

On behalf of the board:

Mr A M A Malik - Director

27 October 2025

Opinion

We have audited the financial statements of Snaplogic UK Limited (the 'company') for the year ended 31 January 2025 which comprise the Income statement, Other comprehensive income, Balance sheet, Statement of changes in equity and Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 January 2025 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic report and the Report of the director, but does not include the financial statements and our Report of the auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic report and the Report of the director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic report and the Report of the director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Report of the director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of director's responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud was as follows:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector in which the company operates;

- We focused on specific laws and regulations which we considered may have a direct impact material effect on the financial statements, or the operations of the company which included the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- Identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the completeness and timing of income recognition and the override of controls by management.

To address the risk of fraud in relation to revenue recognition, we:

- Performed detailed substantive testing to address completeness and accuracy of sales;

- Assessed the appropriateness and application of the accounting policy concerning income recognition; and

- Performed detailed cut-off testing either side of the balance sheet date.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

Investigated the rationale behind significant or unusual transactions

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk. This description forms part of our Report of the auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Roy Davis (Senior Statutory Auditor)

for and on behalf of Zome Audit Limited (Statutory Auditor)

5th Floor

111 Charterhouse Street

London

EC1M 6AW

29 October 2025

TURNOVER

16,451,991

14,957,900

Cost of sales

(13,168,109

)

(11,357,444

)

GROSS PROFIT

3,283,882

3,600,456

Administrative expenses

(2,529,651

)

(2,919,178

)

OPERATING PROFIT

4

754,231

681,278

Interest receivable and similar income

4,156

-

PROFIT BEFORE TAXATION

758,387

681,278

Tax on profit

5

(131,305

)

2,959

PROFIT FOR THE FINANCIAL YEAR

627,082

684,237

PROFIT FOR THE YEAR

627,082

684,237

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

627,082

684,237

CURRENT ASSETS

Debtors

6

11,288,913

8,289,903

Cash at bank

2,005,971

3,933,701

13,294,884

12,223,604

CREDITORS

Amounts falling due within one year

7

(12,128,842

)

(11,936,626

)

NET CURRENT ASSETS

1,166,042

286,978

TOTAL ASSETS LESS CURRENT LIABILITIES

1,166,042

286,978

CREDITORS

Amounts falling due after more than one year

8

(99,824

)

(43,237

)

PROVISIONS FOR LIABILITIES

10

(51,012

)

(53,520

)

NET ASSETS

1,015,206

190,221

CAPITAL AND RESERVES

Called up share capital

11

100

100

Other reserves

12

292,050

94,147

Retained earnings

12

723,056

95,974

SHAREHOLDERS' FUNDS

1,015,206

190,221

The financial statements were approved by the director and authorised for issue on 27 October 2025 and were signed by:

Mr A M A Malik - Director

Called up

share

Retained

Other

Total

capital

earnings

reserves

equity

£

£

£

£

Balance at 1 February 2023

100

(588,263

)

94,147

(494,016

)

Total comprehensive income

-

684,237

-

684,237

Balance at 31 January 2024

100

95,974

94,147

190,221

Total comprehensive income

-

627,082

197,903

824,985

Balance at 31 January 2025

100

723,056

292,050

1,015,206

1.	STATUTORY INFORMATION

Snaplogic 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.

The company's functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

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" and the Companies Act 2006. .

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

The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The directors have not identified any areas which involve a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 11 Financial Instruments paragraphs:

11.41(b),11.41(c),11.41(e),11.41(f),11.42,11.44,11.45,11.48(a)(iii),11.48(a)(iv),11.48(b),11.48(c).

Turnover

SnapLogic provides software-as-a-service on a subscription basis as the primary revenue stream. Turnover represents amounts receivable in respect of services performed exclusive of Value Added Tax. Income is recognised when the service is delivered.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 initially recognised at transaction price.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to Income statement on a straight-line basis over the period of the lease.

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.

Share based payments

The cost of equity-settled transactions with employees is measured by reference to the fair value of the equity instruments granted at the date at which they are granted and is recognised as an expense over the vesting period, which ends on the date on which the relevant employees become fully entitled to the award. Fair value is determined using an appropriate pricing model.

At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management's best estimate of the achievement or other conditions and of the number of equity instruments that will ultimately vest. The movement in cumulative expense since the previous balance sheet date is recognised in the statement of profit and loss, with a corresponding entry in equity.

Going concern

These accounts have been prepared on the going concern basis, on the understanding that Snaplogic, Inc. will continue to financially support the company.

3.	EMPLOYEES AND DIRECTORS

31/1/25

31/1/24

£

£

Wages and salaries

11,424,668

9,331,904

Social security costs

737,919

714,819

Other pension costs

149,758

155,917

12,312,345

10,202,640

The average number of employees during the year was as follows:

31/1/25

31/1/24

54

61

The director considers the services related to the Company are inconsequential compared to the total amount of time spend on other activities in the Snaplogic Group and, as such, no apportionment of the director's remuneration to the Company has been made.

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31/1/25

31/1/24

£

£

Other operating leases

275,848

73,626

Auditors' remuneration

31,550

20,000

Foreign exchange differences

(40,180

)

263,770

5.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

31/1/25

31/1/24

£

£

Current tax:

UK corporation tax

133,813

-

Deferred tax

(2,508

)

(2,959

)

Tax on profit

131,305

(2,959

)

Reconciliation of total tax charge/(credit) included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31/1/25

31/1/24

£

£

Profit before tax

758,387

681,278

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

189,597

170,320

Effects of:

Expenses not deductible for tax purposes

102,211

98,094

Utilisation of tax losses

(157,995

)

(268,414

)

Deferred tax

(2,508

)

(2,959

)

Total tax charge/(credit)

131,305

(2,959

)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/25

31/1/24

£

£

Trade debtors

3,101,999

4,324,778

Amounts owed by group undertakings

7,906,476

3,490,416

Other debtors

120,553

83,370

Tax

-

133,130

Prepayments

159,885

258,209

11,288,913

8,289,903

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/25

31/1/24

£

£

Trade creditors

443,980

202,219

Tax

133,813

-

Social security and other taxes

126,347

75,058

VAT

525,610

436,007

Deferred income

10,010,908

10,430,544

Accrued expenses

888,184

792,798

12,128,842

11,936,626

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/1/25

31/1/24

£

£

Deferred income

99,824

43,237

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/1/25

31/1/24

£

£

Within one year

250,000

304,540

Between one and five years

-

250,000

250,000

554,540

10.	PROVISIONS FOR LIABILITIES

31/1/25

31/1/24

£

£

Deferred tax

51,012

53,520

Deferred tax

£

Balance at 1 February 2024

53,520

Credit to Income statement during year

(2,508

)

Balance at 31 January 2025

51,012

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/1/25

31/1/24

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 February 2024

95,974

94,147

190,121

Profit for the year

627,082

627,082

SBC Reserve

-

197,903

197,903

At 31 January 2025

723,056

292,050

1,015,106

13.	OTHER FINANCIAL COMMITMENTS

T2C Agent, Llc Investor Representative holds a fixed charge over the assets of the company. The details of the charge are publicly available and can be obtained from Companies' House records.

14.	RELATED PARTY DISCLOSURES

As at 31 January 2024, the amount of £7,708,572 (2024: £3,490,416) was owed by Snaplogic, Inc., the parent company.

15.	ULTIMATE CONTROLLING PARTY

The immediate and controlling party is Snaplogic, Inc., a company with the registered address at 1825 S. Grant St, 5th Floor, San Mateo, CA 94402, USA.

Snaplogic, Inc. together with its subsidiaries form the smallest group of which the Company is a member and for which group financial statements are drawn up. These are available from Snaplogic Inc.'s registered office address.

16.	SHARE-BASED PAYMENT TRANSACTIONS

Under the terms of their employment contract the employees of the company are entitled to participate in the Share Based Scheme of the parent company Snaplogic Inc,. At the beginning of the year 1,488,352 options of Snaplogic, Inc., were outstanding. During the year options have been granted to 71 employees of the company for 314,000 options of Snaplogic Inc., 120,988 exercised, 553,012 cancelled leaving 2,304,376 outstanding at the year end. The exercise price during the year has been ranging from 0.31-0.75 per share.