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Brainpool Ltd

Registered Number
10024360
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

Brainpool Ltd
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors | Dr Peter Antony Bebbington
| Katarzyna Borowska

Registered Address | 45 Albemarle Street
| 3rd Floor, Mayfair
| London
| W1S 4JL

Registered Number | 10024360 (England and Wales)

Brainpool Ltd
Balance Sheet as at
31 March 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 4 |  |  | 308 |  |  |  | 894
Investments | 5 |  |  | 20 |  |  |  | 26
|  |  |  | 328 |  |  |  | 920
Current assets |  |  |  |  |  |  |  |
Debtors | 6 | 3,163 |  |  |  | 106,847 |  |
Cash at bank and on hand |  | 15,344 |  |  |  | 14,227 |  |
|  | 18,507 |  |  |  | 121,074 |  |
Creditors amounts falling due within one year | 7 | (27,241) |  |  |  | (37,503) |  |
Net current assets (liabilities) |  |  |  | (8,734) |  |  |  | 83,571
Total assets less current liabilities |  |  |  | (8,406) |  |  |  | 84,491
Net assets |  |  |  | (8,406) |  |  |  | 84,491
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 12 |  |  |  | 12
Share premium |  |  |  | 386,113 |  |  |  | 386,113
Profit and loss account |  |  |  | (394,531) |  |  |  | (301,634)
Shareholders' funds |  |  |  | (8,406) |  |  |  | 84,491

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 24 November 2025, and are signed on its behalf by:
Dr Peter Antony Bebbington Director Registered Company No. 10024360

Brainpool Ltd
Notes to the Financial Statements
for the year ended 31 March 2025

1. | Accounting policies
--- | ---

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

| Statement of compliance
--- | ---
| The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

| Functional and presentation currency
--- | ---
| The financial statements are presented in sterling and this is the functional currency of the company.

| Going concern
--- | ---
| The financial statements have been prepared on a going concern basis. The Company is a non-trading holding entity and therefore relies on financial support from its trading subsidiaries to meet its liabilities as they fall due. The trading subsidiaries continue to generate positive cash flows and have confirmed that they will provide financial support to the Company for at least twelve months from the date of approval of these financial statements. The directors have reviewed the Group’s cash flow forecasts and budgets, including sensitivities, and have considered both current performance and future trading expectations. Based on this review, and on the continued availability of financial support from the trading subsidiaries, the directors believe that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

| Revenue from rendering of services
--- | ---
| Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

| Employee benefits
--- | ---
| Contributions to defined contribution plans are expensed in the period to which they relate.

| Foreign currency translation
--- | ---
| 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.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

|  | Straight line (years)
| Office Equipment | 3

| Investments
--- | ---
| Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 0 |  | 0

3. | Further information regarding the company's income
--- | ---
| During the year, the Company incurred certain central administrative and support costs on behalf of the Group. These costs are recharged to the relevant subsidiaries through annual management charges, determined with reference to the underlying expenditure and the expected level of support provided. Where timing differences arise between the incurring of expenditure and settlement of management charges, the amounts are recognised within intercompany loan accounts. Intercompany balances are unsecured, interest-free, and repayable on demand unless otherwise stated. The directors consider these balances to be recoverable. The Company had no revenue during the year and relies on recoveries from subsidiaries via management charges and intercompany settlements to cover its operating costs.

4. | Tangible fixed assets
--- | ---

|  | Office Equipment |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 April 24 | 10,417 |  | 10,417
| At 31 March 25 | 10,417 |  | 10,417
| Depreciation and impairment
| At 01 April 24 | 9,523 |  | 9,523
| Charge for year | 586 |  | 586
| At 31 March 25 | 10,109 |  | 10,109
| Net book value
| At 31 March 25 | 308 |  | 308
| At 31 March 24 | 894 |  | 894

5. | Fixed asset investments
--- | ---

|  | Investments in groups1 |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 April 24 | 26 |  | 26
| Disposals | (6) |  | (6)
| At 31 March 25 | 20 |  | 20
| Net book value
| At 31 March 25 | 20 |  | 20
| At 31 March 24 | 26 |  | 26

| Notes
--- | ---
| 1Investments in group undertakings and participating interests

6. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Amounts owed by group undertakings | - |  | 89,881
| Amounts owed by associates and joint ventures / participating interests | 1,258 |  | 600
| Other debtors | 129 |  | 16,366
| Prepayments and accrued income | 1,776 |  | -
| Total | 3,163 |  | 106,847

| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

7. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 945 |  | 552
| Bank borrowings and overdrafts | 25,287 |  | 36,186
| Amounts owed to related parties | 10 |  | 10
| Other creditors | - |  | 6
| Accrued liabilities and deferred income | 999 |  | 749
| Total | 27,241 |  | 37,503

| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8. | Related party transactions
--- | ---
| The amount owed by related parties is a loan of £1,258.18 (2024: £599.83) to Brainpool AI Inc, a company registered in Canada, in which Brainpool Ltd has an indirect investment. No interest was charged on the loan, and it is repayable on demand. The amount owed to related parties is a loan of £10.00 (2024:£10.00) from Brainpool Products Ltd, a Private Company Limited By Shares in England and Wales that is owned and controlled by Brainpool Ltd. No interest was charged to the loan and it is repayable on demand.