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Registered number: 13474140 GAUSSION LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 JUNE 2025 The directors who served during the year were: Dr C Tan Dr T M M Heenan D Atkinson J C Miles Dr A Andreev
GAUSSION LTD REGISTERED NUMBER: 13474140 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 280,621 |  | 149,662
Tangible assets | 5 |  | 1,091,418 |  | 280,749
|  |  | 1,372,039 |  | 430,411
Current assets |  |  |  |  |
Debtors: amounts falling due after more than one year | 6 | 316,250 |  | - |
Debtors: amounts falling due within one year | 6 | 298,889 |  | 215,754 |
Cash at bank and in hand | 7 | 6,686,565 |  | 10,112,656 |
|  | 7,301,704 |  | 10,328,410 |
Creditors: amounts falling due within one year | 8 | (67,297) |  | (196,428) |
Net current assets |  |  | 7,234,407 |  | 10,131,982
Total assets less current liabilities |  |  | 8,606,446 |  | 10,562,393
Net assets |  |  | 8,606,446 |  | 10,562,393
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 30 |  | 29
Share premium account |  |  | 12,403,495 |  | 12,325,031
Profit and loss account |  |  | (3,797,079) |  | (1,762,667)
|  |  | 8,606,446 |  | 10,562,393
Page 1
GAUSSION LTD REGISTERED NUMBER: 13474140 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 JUNE 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Dr C Tan
Director
Date: 20 November 2025
The notes on pages 3 to 10 form part of these financial statements. Page 2
GAUSSION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
Gaussion Ltd is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The principal activity of the company during the period was other research and experimental development on natural sciences and engineering. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
GAUSSION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 4
GAUSSION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
| 2.8 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 5
GAUSSION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 33% |
|  |  |  | Office equipment | - | 20% |
|  |  |  | Computer equipment | - | 50% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Employees
| The average monthly number of employees, including directors, during the year was 19 (2024 - 14).
Page 6
GAUSSION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
4. | Intangible assets
|  | Development expenditure
|  | £
| Cost |
| At 1 July 2024 | 157,539
| Additions | 146,143
| At 30 June 2025 | 303,682
| Amortisation |
| At 1 July 2024 | 7,877
| Charge for the year on owned assets | 15,184
| At 30 June 2025 | 23,061
| Net book value |
| At 30 June 2025 | 280,621
| At 30 June 2024 | 149,662
Page 7
GAUSSION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
5. | Tangible fixed assets
|  | Plant and machinery | Office equipment | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 July 2024 | 396,611 | 45,871 | 30,885 | 473,367
| Additions | 1,058,432 | 19,387 | 31,231 | 1,109,050
| At 30 June 2025 | 1,455,043 | 65,258 | 62,116 | 1,582,417
| Depreciation |  |  |  |
| At 1 July 2024 | 150,681 | 13,072 | 28,865 | 192,618
| Charge for the year on owned assets | 273,902 | 9,781 | 14,698 | 298,381
| At 30 June 2025 | 424,583 | 22,853 | 43,563 | 490,999
| Net book value |  |  |  |
| At 30 June 2025 | 1,030,460 | 42,405 | 18,553 | 1,091,418
| At 30 June 2024 | 245,930 | 32,799 | 2,020 | 280,749
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 316,250 | -
|  | 316,250 | -
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due within one year |  |
| Trade debtors | 55,851 | -
| Other debtors | 157,077 | 119,165
| Prepayments and accrued income | 85,961 | 96,589
|  | 298,889 | 215,754
Page 8
GAUSSION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 6,686,565 | 10,112,656
|  | 6,686,565 | 10,112,656
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 25,344 | 172,967
| Other taxation and social security | 3,083 | 18,332
| Other creditors | 3,961 | 2,629
| Accruals and deferred income | 34,909 | 2,500
|  | 67,297 | 196,428
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 678,276 (2024 - 678,276) Seed shares of £0.00001 each | 6.78276 | 6.78276
|  | 1,109,440 (2024 - 1,109,440) Ordinary shares of £0.00001 each | 11.09440 | 11.09440
|  | 54,216 (2024 - 29,412) Growth shares of £0.00001 each | 0.54216 | 0.29412
|  | 1,137,465 (2024 - 1,128,265) Series A shares of £0.00001 each | 11.37465 | 11.28265
|  |  | 29.79397 | 29.45393
The Company issued 24,804 Growth shares of £0.00001 each on 08 November 2024 and 9,200 Series A shares of £0.00001 each on 02 April 2025 at a premium.
10. | Pension commitments
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 9
GAUSSION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
11. | Commitments under operating leases
| At 30 June 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 368,958 | -
| Later than 1 year and not later than 5 years | 2,424,583 | -
|  | 2,793,541 | -
Page 10