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REGISTERED NUMBER: 06348505 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 30 April 2025 |

| for |

| Witt Limited |

| Witt Limited (Registered number: 06348505) |

Contents of the Financial Statements

for the Year Ended 30 April 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Witt Limited |

Company Information

for the Year Ended 30 April 2025

| DIRECTORS: | M J Wickett

| M B Wickett

| R Evans

| W Corr

| T J Williams

| REGISTERED OFFICE: | Metherell Gard Ltd

| Burn View

| Bude

| Cornwall

| EX23 8BX

| REGISTERED NUMBER: | 06348505 (England and Wales)

| ACCOUNTANTS: | Metherell Gard Ltd

| Burn View

| BUDE

| Cornwall

| EX23 8BX

| Witt Limited (Registered number: 06348505) |

Balance Sheet

30 April 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 1,727,402 |  | 1,763,084 |  |

Tangible assets | 5 | 5,132 |  | 6,847 |  |

1,732,534 |  | 1,769,931 |  |

CURRENT ASSETS

Stocks | 40,988 |  | 40,988 |  |

Debtors | 6 | 4,889 |  | 7,297 |  |

Cash at bank | 1,490 |  | 5,611 |  |

47,367 |  | 53,896 |  |

CREDITORS

Amounts falling due within one year | 7 | 114,772 |  | 84,250 |  |

NET CURRENT LIABILITIES | (67,405 | ) | (30,354 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,665,129 |  | 1,739,577 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 224,851 |  | 224,851 |  |

NET ASSETS | 1,440,278 |  | 1,514,726 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 15,568 |  | 15,568 |  |

Share premium | 2,763,220 |  | 2,763,220 |  |

Retained earnings | (1,338,510 | ) | (1,264,062 | ) |

SHAREHOLDERS' FUNDS | 1,440,278 |  | 1,514,726 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| Witt Limited (Registered number: 06348505) |

Balance Sheet - continued

30 April 2025

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2025 and were signed on its behalf by:

T J Williams - Director

| Witt Limited (Registered number: 06348505) |

Notes to the Financial Statements

for the Year Ended 30 April 2025

1. | STATUTORY INFORMATION

| Witt Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Grants received and receivable

| Grants received from any sources are written off to the profit and loss account in the year of receipt, except to the extent that they are a contribution towards a fixed asset, in which case they are carried forward as deferred income. At the period end the total deferred income to be matched against the future intangible fixed asset amortisation is £224,851 (2024 - £224,851).

| Foreign currency transactions and balances

| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period, foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Goodwill

| Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

| Amortisation

| Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual

| value, over their useful life as follows:

| Goodwill - 20% straight line

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Development costs are being amortised evenly over their estimated useful life of nil years.

| Amortisation

| Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual

| value, over their useful life as follows:

| Development costs - 20% straight line

| Witt Limited (Registered number: 06348505) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 25% on reducing balance

| Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

| The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| 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.

| Research and development

| Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. Provision is made for any impairment.

| Any expenditure carried forward will be amortised in line with the expected sales from the related project over the period of expected benefit. Amortisation shall commence once the asset has been fully developed and is ready for commercial production.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Witt Limited (Registered number: 06348505) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

| Share capital

| Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

| Trade debtors

| Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

| Trade creditors

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

| Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

| Going Concern

| Management has assessed the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of the financial statements. The financial statements have been prepared on a going concern basis on the grounds that the current and future sources of funding or support will be more than adequate for the company's needs. There are no further disclosures on this matter required.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 3 ) .

4. | INTANGIBLE FIXED ASSETS

| Other |

| intangible |

| Goodwill |  | assets |  | Totals

£ | £ | £ |

| COST

| At 1 May 2024

| and 30 April 2025 | 200 |  | 1,763,084 |  | 1,763,284 |  |

| AMORTISATION

| At 1 May 2024 | 200 |  | - |  | 200 |  |

| Charge for year | - |  | 35,682 |  | 35,682 |  |

| At 30 April 2025 | 200 |  | 35,682 |  | 35,882 |  |

| NET BOOK VALUE

| At 30 April 2025 | - |  | 1,727,402 |  | 1,727,402 |  |

| At 30 April 2024 | - |  | 1,763,084 |  | 1,763,084 |  |

| Witt Limited (Registered number: 06348505) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 May 2024

| and 30 April 2025 | 36,915 |  |

| DEPRECIATION

| At 1 May 2024 | 30,068 |  |

| Charge for year | 1,715 |  |

| At 30 April 2025 | 31,783 |  |

| NET BOOK VALUE

| At 30 April 2025 | 5,132 |  |

| At 30 April 2024 | 6,847 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | - |  | 1,695 |  |

| Other debtors | 4,889 |  | 5,602 |  |

4,889 |  | 7,297 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 294 |  | 8,632 |  |

| Taxation and social security | 273 |  | 646 |  |

| Other creditors | 114,205 |  | 74,972 |  |

114,772 |  | 84,250 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other creditors | 224,851 |  | 224,851 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 14,091,006 | A Ordinary | 0.001 | 14,091 |  | 14,091 |  |

| 1,476,522 | B Investment | 0.001 | 1,477 |  | 1,477 |  |

15,568 |  | 15,568 |  |

| A Ordinary shares carry voting rights and rank pari passu for dividends and on a return of capital.

| Shares are not redeemable.

| B Investment shares are non-voting but rank pari passu for dividends and on a return of capital.

| Shares are not redeemable.

| Witt Limited (Registered number: 06348505) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

10. | RELATED PARTY DISCLOSURES

| During the period the directors continued to provide the company with interest-free loans which are repayable on demand. At the balance sheet date, the total amount owed to the directors was £112,080 (2024 - £69,503).

11. | SHARE-BASED PAYMENT TRANSACTIONS

| During the period, the company continued to offer various equity-settled share options to employees and others providing similar services, which have been aggregated here as they are considered to be substantially similar type.

| The options become exercisable subject to various vesting conditions, including employee length of service, and various performance-related conditions. The options expire after a period of between 10 and 20 years, depending on the employee or similar person.

| A total of 467,026 share options were outstanding at the beginning of the period, with a weighted average exercise price of £0.35 per share. No options were granted or exercised during the period and no options expired during the period. At the end of the period, there remained a total of 467,026 share options outstanding with a weighted average share price of £0.35 per share, of which 467,026 were exercisable at the reporting date.

| The directors believe that the intrinsic value of each option is £nil (being the exercise price over each option less the value of each share). Any option value would only arise from the volatility associated with the shares. Since for a pre-revenue private company this is highly subjective, no formal valuation has been commissioned. Accordingly, no expense has been recognised in profit or loss for these share-based payments for the period (2024 - £nil).