Company No: 15517298 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	28.02.2025
		£
Fixed assets
Investments	3	101
		101
Current assets
Debtors	4	140,762
Cash at bank and in hand		8,536
		149,298
Creditors: amounts falling due within one year	5	( 152,750)
Net current liabilities		(3,452)
Total assets less current liabilities		(3,351)
Net liabilities		( 3,351)
Capital and reserves
Called-up share capital	6	16
Profit and loss account		( 3,367 )
Total shareholders' deficit		( 3,351)

For the financial period ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Fair Software Limited (registered number: 15517298) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

I B Chocron Director

07 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Fair Software Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have prepared the financial statements on a going concern basis. In forming this view, they have considered the company’s current financial position, cash flow forecasts, and the principal risks and uncertainties facing the business. The company’s forecasts and projections indicate that additional funding will be required to enable the business to continue to meet its obligations as they fall due for at least the next twelve months from the date of approval of these financial statements. Management is actively engaged in discussions with potential funders and is confident that such funding can be secured. However, there can be no certainty that these efforts will be successful or that sufficient funding will be available when required. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the company’s ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.

The directors have confirmed that the cash facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, and loans to and from related parties.

Financial assets
Basic financial assets, including other debtors and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including accruals and amounts due to related companies, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

2. Employees

	Period from 23.02.2024 to 28.02.2025
	Number
Monthly average number of persons employed by the company during the period, including directors	4

3. Fixed asset investments

Investments in subsidiaries

	28.02.2025
	£
Cost
At 23 February 2024	0
Additions	101
At 28 February 2025	101
Carrying value at 28 February 2025	101

4. Debtors

	28.02.2025
	£
Amounts owed by own subsidiaries	139,899
Other debtors	863
	140,762

5. Creditors: amounts falling due within one year

	28.02.2025
	£
Amounts owed to own subsidiaries	150,000
Accruals	2,750
	152,750

6. Called-up share capital

	28.02.2025
	£
Allotted, called-up and fully-paid
1,200,000 Ordinary shares of £ 0.00001 each	12
357,493 Seed preference shares of £ 0.00001 each	4
	16

On incorporation, the Company issued 1 Ordinary shares of £0.00001 each at par.

On 10 May 2024, the Company issued 1,199,999 Ordinary shares of £0.00001 each at par, as well as 357,493 Seed preference shares of £0.00001 each at par.

7. Related party transactions

Other related party transactions

	28.02.2025
	£
Included within debtors is a balance due to a subsidiary	139,899
Included within creditors is a balance due to companies with common directors	(150,000)

All loans are unsecured, interest-free and repayable on demand.