Company registration number 10561447 (England and Wales)
JUMIO UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
JUMIO UK LIMITED
COMPANY INFORMATION
Director
Mr Robert Prigge
Company number
10561447
Registered office
New Broad Street House, 35 New Broad St,
London
England
EC2M 1NH
Auditor
Arnold Hill & Co LLP
Sixth Floor
Capital Tower
91 Waterloo Road
London
SE1 8RT
JUMIO UK LIMITED
CONTENTS
Page
Strategic report
1 - 2
Director's report
3 - 4
Director's responsibilities statement
5
Independent auditor's report
6 - 9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Statement of cash flows
13
Notes to the financial statements
14 - 23
JUMIO UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -

The director presents this strategic report for Jumio UK Limited (the "Company") for the year ended 31 January 2025.

Review of the business

The director considers the results for the year and the position of the Company at the year-end to be in line with director’s expectations given the nature of the Company's principal activity.

The company total turnover for the year ended 31 Jan 2025 was £17.4M, representing an increase of £3.5 M compared to prior year. The growth was mainly driven by £3.1 M increase in trading revenue as several key customer accounts were transferred to the Company from the Company’s Parent Company – Jumio Corporation, offset with £1.7M decrease in intercompany revenue due to headcount reduction and lower consulting spending.

Average employee headcount reduced by 18% to 31 employees at the end of January 2025.

Principal risks and uncertainties

The management of the business and the execution of the Company's strategy are subject to a number of key risks. The key business risks and uncertainties affecting the Company are considered to relate to general economic conditions and foreign exchange rate fluctuations.

Financial risk management

The Company's operations expose it to a variety of financial risks. The Company has in place a risk management program that seeks to limit the adverse effects on the financial performance of the Company by monitoring levels of debt finance and the related finance costs. This includes managing the Company’s expenses to the Company’s financial performance.

Given the size of the Company, the director has not delegated the responsibility of monitoring financial risk management to a sub-committee of the board of directors of the Company (the “Board”). The policies set by the Board are implemented by the Company’s finance department.

Liquidity risk

The Company is a whole owned subsidiary of Jumio Corporation which actively maintains short-term debt finance that is designed to ensure the entire organization have sufficient available funds for operations and planned expansions.

Interest rate cash flow risk

The Company has interest bearing assets consisting of cash balances that earn interest at a variable rate.

Other performance indicators

Given the straightforward nature of the business, the director is of the opinion that analysis using key performance indicators (“KPIs”) is not necessary for an understanding of the development, performance or position of the business. The Company’s KPIs include bookings growth which is the amount of closed sales closed by the Company in a quarterly and annual bases. This booking growth is a leading indicator of the financial health of the business. The Company’s management will make financial decision such as headcount, expenses, and investment activities based on the booking growth.

Future of lease facility

Based on the results of a company-wide employee survey and an executive review, the UK office will adopt a new Remote+ approach. As part of this transition, the company exited the Worship St office by the end of December 2024 and secured a WeWork space, which was in use starting January 1, 2025.

JUMIO UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -

On behalf of the board

Mr Robert Prigge
Director
30 October 2025
JUMIO UK LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -

The director presents the annual report and financial statements for Jumio UK Limited (the “Company”) for the year ended 31 January 2025.

Principal activities

The Company was incorporated on 12 January 2017 as a private company limited by shares in England and Wales. Its principal activity is the provision of ID and identity verification services and other related services to its parent entity, Jumio Corporation, a corporation incorporated in the State of Delaware in the United States of America.

Results and dividends

The profit of the Company for the year, after taxation, amounted to £436,834 (31 January 2024: £546,859).The directors do not propose the payment of a dividend.

No ordinary dividends were paid. The director does not recommend payment of a final dividend.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr Robert Prigge
Director's insurance

During the current and preceding periods, the company has maintained adequate cover for its directors and officers under a director's and officer's liability insurance policy.

Auditor

Arnold Hill & Co LLP was appointed as auditor to the Company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put forward at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the Company’s auditor is unaware. Additionally, the director individually has taken all the necessary steps that they ought to have taken as a director in order to make themselves aware of all relevant audit information and to establish that the Company’s auditor is aware of that information.

Review of the business and future developments

The results for the year and the financial position at the year end were considered satisfactory by the director who expect continued growth in the foreseeable future.

JUMIO UK LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
Going concern

It is assumed that the Company will continue for the foreseeable future. It is not the intention of the Company to decrease advisory and management roles at this point.

There was no direct significant negative-impact on or any significant restriction to our business in the previous years due to the Covid 19 pandemic and most recently the war in the Ukraine with its economic and social impacts.

Business continuity plans with working from home elements always worked out very well, based on a large extent on the fact that the Company is part of a wider corporate structure. Jumio Holdings, Inc., a Delaware corporation and the ultimate corporate parent entity provided IT solutions/ services and the management of the Company’s physical workplace in London in line with government and group guidance. Based on the results of a company-wide employee survey and an executive review, the UK office had adopted a new Remote+ approach. As part of this transition, the company exited the Worship St office by the end of December 2024 and secured a WeWork space, which was in use starting January 1, 2025.

Higher costs of living in line with double digit inflation rates and an increase of interest rates as seen since 2022 have had an impact on the wider economy in the UK and worldwide. We will continue to monitor these impacts carefully, not at least in line with our day-to-day investment and asset management and reporting roles. However, no negative impact to Jumio UK’s business itself can be seen so far.

We continue to operate in line with approved budgets. Wages, rents and all other bills of the Company were paid in full during the entire year. There was no loss in income. This year’s approved budget guarantees the same for 2024. The foreseeable increase in the number of business trips post-pandemic is covered in line with the approved budget.

Wages, rents and all other bills of the Company were paid in full during the entire year. There was no loss in income. This year’s approved budget guarantees the same for 2025. The foreseeable increase in the number of business trips post-pandemic is covered in line with the approved budget.

The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and has prepared the financial statements on a going concern basis. This conclusion is based on the director’s assessment of the Company’s financial position, including the expectation of financial and operational support provided by the ultimate parent company, Jumio Holdings, Inc., covering a period of at least twelve months from the date of approval of these financial statements. The director, in relying on this support, has considered the parent company’s ability to provide this support with no issues noted.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr Robert Prigge
Director
30 October 2025
JUMIO UK LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -

The director is responsible for preparing the annual report 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). 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 them 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.

JUMIO UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JUMIO UK LIMITED
- 6 -
Opinion

We have audited the financial statements of Jumio UK Limited (the 'company') for the year ended 31 January 202 5 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 202 5 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. 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. 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 course of 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.

JUMIO UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JUMIO UK LIMITED (CONTINUED)
- 7 -

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the director’s report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report 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 director’s report.

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; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and take advantage of the small companies exemption from the requirement to prepare a strategic report.

Responsibilities of director

As explained more fully in the director’s responsibilities statement, the director is responsible for the preparation of the financial statements in accordance with the applicable financial reporting framework and for being satisfied that they give a true and fair view, and for such internal control as the director determines is 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.

JUMIO UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JUMIO UK LIMITED (CONTINUED)
- 8 -
Auditor's 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 an auditor's report 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.
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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. Our approach was as follows: We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the director and other management (as required by auditing standards), and discussed with the director and other management the policies and procedures regarding compliance with laws and regulations; We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK; We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration; We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit; We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

JUMIO UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JUMIO UK LIMITED (CONTINUED)
- 9 -

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

Mr Dipesh Giri BSc (Hons) BFP ACA
Senior Statutory Auditor
For and on behalf of Arnold Hill & Co LLP
30 October 2025
Chartered Accountants
Statutory Auditor
Sixth Floor
Capital Tower
91 Waterloo Road
London
SE1 8RT
JUMIO UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
17,423,823
13,966,587
Cost of sales
(8,328,228)
(3,209,000)
Gross profit
9,095,595
10,757,587
Administrative expenses
(8,496,142)
(10,016,199)
Operating profit
4
599,453
741,388
Interest receivable and similar income
33
-
0
Interest payable and similar expenses
6
-
0
(2,370)
Profit before taxation
599,486
739,018
Tax on profit
7
(162,652)
(192,159)
Profit for the financial year
436,834
546,859

The profit and loss account has been prepared on the basis that all operations are continuing operations.

JUMIO UK LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
8
-
0
27,149
Current assets
Debtors
9
4,928,839
4,253,433
Cash at bank and in hand
1,425,936
1,127,525
6,354,775
5,380,958
Creditors: amounts falling due within one year
10
(2,388,885)
(1,879,051)
Net current assets
3,965,890
3,501,907
Net assets
3,965,890
3,529,056
Capital and reserves
Called up share capital
13
100
100
Profit and loss reserves
3,965,790
3,528,956
Total equity
3,965,890
3,529,056

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 30 October 2025
Mr Robert Prigge
Director
Company registration number 10561447 (England and Wales)
JUMIO UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2025
- 12 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 February 2023
100
2,982,097
2,982,197
Year ended 31 January 2024:
Profit and total comprehensive income
-
546,859
546,859
Balance at 31 January 2024
100
3,528,956
3,529,056
Year ended 31 January 2025:
Profit and total comprehensive income
-
436,834
436,834
Balance at 31 January 2025
100
3,965,790
3,965,890
JUMIO UK LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
17
505,093
544,618
Interest paid
-
0
(2,370)
Income taxes paid
(215,883)
(252,019)
Net cash inflow from operating activities
289,210
290,229
Investing activities
Purchase of tangible fixed assets
(2,682)
-
0
Proceeds from disposal of tangible fixed assets
11,850
-
0
Interest received
33
-
0
Net cash generated from/(used in) investing activities
9,201
-
Net increase in cash and cash equivalents
298,411
290,229
Cash and cash equivalents at beginning of year
1,127,525
837,296
Cash and cash equivalents at end of year
1,425,936
1,127,525
JUMIO UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 14 -
1
Accounting policies
Company information

Jumio UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is New Broad Street House, 35 New Broad St,, London, England, EC2M 1NH.

1.1
Accounting convention

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

JUMIO UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 15 -
1.3
Turnover

Revenue Recognition: The Company determines revenue contracts with customers based on The Financial Reporting Standard applicable in the UK (“FRS 102”).

The Company derives revenue primarily from service contracts with digital identification verification services and support and maintenance. The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring services to the customer. Such amounts are typically stated in the customer contract and to the extent that the Company identifies variable consideration, the Company estimates the variable consideration at the onset of the arrangement to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Other variable consideration may include amounts that could be refunded, or uncollected from customers, price concessions, service level penalties, usage overages, or other similar items. Other variable consideration has not been material. None of the Company's contracts contain a significant financing component.

For usage-based services, the Company allocates the transaction price to customer products and services based on the expected usage of the services. The Company recognizes revenue when control of promised services is transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for the services and support and maintenance. Typically, unused scans at the end of the service contract are not subject to refund or rollover into the next service contract. Therefore the Company estimates the number of expected transactions that will be used at the onset of each service contract and updates the estimated number of transactions at each reporting period. In the case that a customer uses significantly less services than contracted, revenue is recognized ratably over the service term of the contract.

Service Contract Revenue

The Company’s business model involves customers pre-purchasing a certain quantity of transactions and having a certain number of months to consume the transactions. Transactional revenue is recognized as customer transactions are completed. Service contracts are generally prepaid and specify the number of transactions that can be submitted by the customer during the contract term. Generally, unused transactions at the end of the contract term are forfeited by the customer and are not subject to refund or rollover to the next contract term. Jumio’s standard service contracts and support agreements include one to three year terms with auto-renewal clauses. Support includes standard warranty-related commitments, maintenance of the Company’s service platform, bug fixes, and patches to the platforms. Support and maintenance are viewed as a stand-ready services that is satisfied over time throughout the duration of the contract term; as such support and account maintenance revenue is recognized ratably over the service contract period.

Contract Balances

The Company generally does not recognize revenue in advance of invoicing customers; however, the Company records a receivable when revenue is recognized prior to payment and has an unconditional right to payment. Alternatively, when payment precedes the related services, the Company records a contract liability, or deferred revenue, until the services are satisfied.

1.4
Tangible fixed assets

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

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

Leasehold land and buildings
16.67% straight line method
Plant and equipment
16.67% - 33.33% straight line method
JUMIO UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 16 -

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.

1.5
Impairment of fixed assets

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. 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.

1.6
Cash at bank and in hand

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

1.7
Financial instruments

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.

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.

Basic financial assets

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 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

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 assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

JUMIO UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 17 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

JUMIO UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 18 -
Current tax

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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

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

1.12
Leases

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

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss 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 s asset are consumed.

JUMIO UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 19 -
1.13
Foreign exchange

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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Netverify- IDV
6,622,416
2,440,246
Netverify- Identity (Facematch)
922,722
256,076
Account Maintenance
688,533
270,162
I/C Revenues: UK
9,156,105
10,878,843
Netverify- Doc Verification
-
69,267
Other Jumio Product
34,047
51,993
17,423,823
13,966,587
2025
2024
£
£
Turnover analysed by geographical market
Europe
8,267,718
3,087,744
USA
9,156,105
10,878,843
17,423,823
13,966,587
2025
2024
£
£
Other revenue
Interest income
33
-
JUMIO UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 20 -
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses/(gains)
50,218
(3,324)
Fees payable to the company's auditor for the audit of the company's financial statements
17,000
15,750
Depreciation of owned tangible fixed assets
17,981
33,530
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
COS
1
1
Sales & Marketing
22
28
R&D
1
1
General & Admin
7
8
Total
31
38

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
5,937,150
6,628,887
Social security costs
702,126
821,149
Pension costs
128,162
148,120
6,767,438
7,598,156

Redundancy payments of £42,560 (2024: £383,767) in the year include d in Wages and salaries.

6
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
-
0
2,370
7
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
162,652
192,159
JUMIO UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
7
Taxation
(Continued)
- 21 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
599,486
739,018
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
149,872
184,755
Tax effect of expenses that are not deductible in determining taxable profit
8,556
6,515
Effect of change in corporation tax rate
-
0
(7,168)
Depreciation on assets not qualifying for tax allowances
4,495
8,057
Annual Investment Allowance (AIA) 100%
(271)
-
0
Taxation charge for the year
162,652
192,159
8
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 February 2024
34,869
205,117
239,986
Additions
-
0
2,682
2,682
Disposals
-
0
(31,750)
(31,750)
At 31 January 2025
34,869
176,049
210,918
Depreciation and impairment
At 1 February 2024
34,307
178,530
212,837
Depreciation charged in the year
562
17,419
17,981
Eliminated in respect of disposals
-
0
(19,900)
(19,900)
At 31 January 2025
34,869
176,049
210,918
Carrying amount
At 31 January 2025
-
0
-
0
-
0
At 31 January 2024
562
26,587
27,149
JUMIO UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 22 -
9
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
424,441
481,796
Amounts owed by group undertakings
4,276,741
3,429,337
Other debtors
160,145
244,376
Prepayments and accrued income
67,512
97,924
4,928,839
4,253,433
10
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Trade creditors
29,290
31,730
Corporation tax
133,290
186,521
Other taxation and social security
24,273
22,323
Deferred income
11
1,194,494
590,348
Accruals
1,007,538
1,048,129
2,388,885
1,879,051
11
Deferred income
2025
2024
£
£
Other deferred income
1,194,494
590,348
12
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
128,162
148,120

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

13
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
JUMIO UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 23 -
14
Operating lease commitments

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

2025
2024
£
£
Within one year
130,240
605,000
15
Related party transactions

Included within debtors is £4,276,741 (202 4: £3,429,337) due from the parent company, a company based in the United States of America. The amount is unsecured, interest free and repayable on demand.

16
Ultimate controlling party

The company's parent company is Jumio Holdings, Inc. established in United States of America.

17
Cash generated from operations
2025
2024
£
£
Profit for the year after tax
436,834
546,859
Adjustments for:
Taxation charged
162,652
192,159
Finance costs
-
0
2,370
Investment income
(33)
-
0
Depreciation and impairment of tangible fixed assets
17,981
33,530
Movements in working capital:
(Increase)/decrease in debtors
(675,406)
210,662
Decrease in creditors
(41,081)
(68,548)
Increase/(decrease) in deferred income
604,146
(372,414)
Cash generated from operations
505,093
544,618
18
Analysis of changes in net funds
1 February 2024
Cash flows
31 January 2025
£
£
£
Cash at bank and in hand
1,127,525
298,411
1,425,936
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