ACCOUNTS - Final Accounts

An analysis of turnover by class of business is as follows:

Registered number: 11121433

OWNCOMPANY UK LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

OWNCOMPANY UK LIMITED

COMPANY INFORMATION

Director	L McDonagh


Registered number	11121433


Registered office	Floor 26 Salesforce Tower
	110 Bishopsgate
	London
	EC2N 4AY


Independent auditor	Nortons Assurance Limited
	Chartered Accountants and Statutory Auditor
	Second Floor
	NOW Building
	Thames Valley Park
	Reading
	Berkshire
	RG6 1RB

OWNCOMPANY UK LIMITED

CONTENTS

	Page
Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditor's Report	5 - 8
Profit and Loss Account	9
Balance Sheet	10
Statement of Changes in Equity	11
Notes to the Financial Statements	12 - 28

OWNCOMPANY UK LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction

The Directors present their strategic report for the year ended 31 December 2024.

Business review

The results of the Company for the year show a profit on ordinary activities before tax of £1,546,200 (2023 - £1,195,617). The shareholders' funds for the Company total £3,975,420 (2023 - £2,632,180). The Company has a good cash position at year-end due to previously funded financing.
The Company provides a suite of cloud-based data protection tools, including data backup and restoration, security posture management, archiving, and sandbox seeding tools. The principal activity for the Company in the period under review was sales and marketing support activities for its parent company, OwnCompany Inc.
On November 18, 2024, Salesforce Inc. completed its acquisition of Own Data Company Ltd. and all its subsidiaries including OwnCompany UK Limited for $1.9 billion net of the value of the approximately 10% of outstanding shares currently owned by Salesforce. On 6 January 2025 ownership of the Company was transferred to Salesforce UK limited, which became the immediate parent Company. Subsequently, on 1 February 2025, certain assets of the Company were sold to Salesforce UK Limited and all UK employees were transferred to that company. The French branch will be wound up and the directors plan to liquidate the Company once all remaining obligations are settled.

Principal risks and uncertainties

The Company's success is dependent on the operations of the Parent Company.
Cashflow risk
The Company operates on a cost-plus revenue model and is fully funded by the other group entities.
Credit risk
Credit risk refers to the risk that a counterparty will default on its contractual obligations, which will result in financial loss to the Company. The Company does not have any external debt.
Liquidity risk
Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding through an adequate amount of committed credit. Due to the nature of the business, the Company has minimal liquidity risk and cash flows are managed on a daily basis.
Foreign exchange risk
The Company has transaction currency exposure which arise from purchases and sales in currencies other than its functional currency. Management monitors foreign currency balances and controls these to limit exchange rate exposure.
Competition risk
Continual development of R&D to develop new products at a group level.

Financial key performance indicators

The directors oversee the operations of the group at the Parent Company level, of which the Company is included. The directors of the Company do not believe the use of financial key performance indicators are appropriate for assessing the performance or position of the Company.

Page 1

OWNCOMPANY UK LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

This report was approved by the board and signed on its behalf.

L McDonagh

Director

Date: 24 December 2025

Page 2

OWNCOMPANY UK LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are 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 directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments 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 directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

Results and dividends

The profit for the year, after taxation, amounted to £1,343,240 (2023 - £773,010).

No dividend has been paid or proposed in the current year (2023 - £nil).

Directors

The directors who served during the year were:

S Gutmann (resigned 18 November 2024)

L McDonagh (appointed 18 November 2024)

Future developments

There are no significant future developments to note. As noted elsewhere in this report, the director expects to liquidate the Company in the foreseeable future.

Qualifying third party indemnity provisions

L McDonagh is covered by qualifying third party indemnity insurance provided by the group.

Branches outside the United Kingdom

The Company has a branch established in France.

Page 3

OWNCOMPANY UK LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Matters covered in the Strategic Report

The Company has chosen in accordance with Companies Act 2006, a. 414C (11) to set out in the strategic report information required by The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of risk and uncertainties and financial risk management objectives and policies.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

On November 18, 2024, Salesforce Inc. completed its acquisition of Own Data Company Ltd. and all its subsidiaries including OwnCompany UK Limited for $1.9 billion net of the value of the approximately 10% of outstanding shares currently owned by Salesforce. On 6 January 2025 ownership of the Company was transferred to Salesforce UK limited, which became the immediate parent Company. Subsequently, on 1 February 2025, certain assets of the Company were sold to Salesforce UK Limited and all UK employees were transferred to that company. The French branch will be wound up and the directors plan to liquidate the Company once all remaining obligations are settled.
Subsequent to the year end, the Company received a number of claims from former employees of the French branch following terminations in February and May 2025. The Company is defending its position, however, management have estimated the claim to be between EUR 1.96m and EUR 5.24m and believe that a cash payment to settle these claims is likely.

Auditor

The auditor, Nortons Assurance Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

L McDonagh

Director

Date: 24 December 2025

Page 4

OWNCOMPANY UK LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OWNCOMPANY UK LIMITED

Opinion

We have audited the financial statements of OwnCompany UK Limited (the 'Company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 December 2024 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 United Kingdom, including the Financial Reporting Council'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.

Emphasis of matter - financial statements prepared on a basis other than going concern

We draw attention to note 2.3 in the financial statements, which explains that the directors intend to liquidate the Company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than that of a going concern as described in note 2.3. Our opinion is not modified in respect of this matter.

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 directors are 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.

Page 5

OWNCOMPANY UK LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OWNCOMPANY UK LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

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

∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' 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 Directors' Report.

We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine 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 directors are 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 directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 6

OWNCOMPANY UK LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OWNCOMPANY UK LIMITED (CONTINUED)

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:

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 management.
Our approach was as follows:

∙We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework including the Companies Act 2006 and the relevant tax compliance regulations in the UK.

∙We understood how the Company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures.

∙We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by discussing with management to understand where it considered there was a susceptibility to fraud. We considered the 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. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included testing manual journals and were designed to provide reasonable assurance that the financial statements were free from fraud and error.

∙Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations identified in the paragraphs above. Our procedures involved journal entry testing, with a focus on journals indicating large or unusual transactions based on our understanding of the business, enquiries of Company management and focused testing. In addition, we completed procedures to conclude on the compliance of the disclosures in the Annual Report and Accounts with the requirements of the relevant accounting standards and UK legislation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Page 7

OWNCOMPANY UK LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OWNCOMPANY UK LIMITED (CONTINUED)

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.

Karen Cairns (Senior Statutory Auditor)

for and on behalf of

Nortons Assurance Limited

Chartered Accountants and Statutory Auditor

Second Floor

NOW Building

Thames Valley Park

Reading

Berkshire

RG6 1RB

30 December 2025

Page 8

OWNCOMPANY UK LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	4	32,822,853	25,072,743
Administrative expenses		(31,276,812)	(23,877,270)
Operating profit	5	1,546,041	1,195,473
Interest receivable and similar income	8	159	144
Profit before tax		1,546,200	1,195,617
Tax on profit	9	(202,960)	(422,607)
Profit for the financial year		1,343,240	773,010

There are no items of other comprehensive income for 2024 or 2023 other than the profit for the year. As a result, no separate Statement of Comprehensive Income has been presented.

The notes on pages 12 to 28 form part of these financial statements.

Page 9

OWNCOMPANY UK LIMITED

REGISTERED NUMBER: 11121433

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	10		2,070,837		2,883,996
Current assets
Debtors: amounts falling due within one year	11	6,712,612		2,715,073
Cash at bank and in hand	12	602,177		2,136,206
		7,314,789		4,851,279
Creditors: amounts falling due within one year	13	(5,033,053)		(3,712,991)
Net current assets			2,281,736		1,138,288
Total assets less current liabilities			4,352,573		4,022,284
Creditors: amounts falling due after more than one year	14		-		(1,025,991)
			4,352,573		2,996,293
Provisions for liabilities
Deferred tax	15	(213,758)		(213,758)
Other provisions	16	(163,395)		(150,355)
			(377,153)		(364,113)
Net assets			3,975,420		2,632,180

Capital and reserves
Called up share capital	17	100	100
Profit and loss account	18	3,975,320	2,632,080
		3,975,420	2,632,180

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

L McDonagh

Director

Date: 24 December 2025

The notes on pages 12 to 28 form part of these financial statements.

Page 10

OWNCOMPANY UK LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 21 January 2023	100	1,859,070	1,859,170
Comprehensive income for the year
Profit for the year	-	773,010	773,010
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	773,010	773,010
Total transactions with owners	-	-	-

At 1 January 2024	100	2,632,080	2,632,180
Comprehensive income for the year
Profit for the year	-	1,343,240	1,343,240
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	1,343,240	1,343,240
Total transactions with owners	-	-	-
At 31 December 2024	100	3,975,320	3,975,420

The notes on pages 12 to 28 form part of these financial statements.

Page 11

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

OwnCompany UK Limited ("the Company") is a company incorporated in the United Kingdom under the Companies Act.
The Company is a private company limited by shares and is registered in England and Wales. The Company's registered address is Floor 26 Salesforce Tower, 110 Bishopsgate, London, EC2N 4AY.
The principal activity for the Company in the period under review was sales and marketing support activities for its parent company, OwnCompany Inc.

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 Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 29 Income tax paragraphs 29.28(b) and 29.29. This is an exemption from certain disclosures in relation to Pillar Two model rules where an entity is, or expects to be, within the scope of the Pillar Two legislation. The exemption is dependent on equivalent disclosures being made in the consolidated financial statements. It is not an exemption from all Pillar Two model rules and disclosures. Qualifying entities are still required to provide disclosures in accordance with paragraph 29.26 (g) and 29.28(a) if Pillar two model rules are applicable;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Salesforce, Inc. as at 31 January 2025 and these financial statements may be obtained from Salesforce, Inc., Salesforce Tower, 415 Mission Street 3rd Floor, San Francisco CA 94105, United States of America or at the following website: http://investor.Salesforce .com.

Page 12

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Going concern

On November 18, 2024, Salesforce Inc. completed its acquisition of Own Data Company Ltd. and all its subsidiaries including OwnCompany UK Limited for $1.9 billion net of the value of the approximately 10% of outstanding shares currently owned by Salesforce. On 6 January 2025 ownership of the Company was transferred to Salesforce UK limited, which became the immediate parent Company. Subsequently, on 1 February 2025, certain assets of the Company were sold to Salesforce UK Limited and all UK employees were transferred to that company. The French branch will be wound up and the directors plan to liquidate the Company once all remaining obligations are settled.
The directors have received confirmation of continued financial support from its immediate parent company, Salesforce UK Limited, and the directors believe that such financial support will continue to be available for the foreseeable future and until such time as the Company is liquidated.
As a result of the intention to liquidate the entity the financial statements have been prepared on a basis other than that of going concern. This basis includes, where applicable, writing the Company’s assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP. The financial statements are rounded to the nearest whole pound.

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.

2.5

Revenue

Revenue represents amounts charged to the Company's parent, OwnCompany Inc., for sales and marketing services provided, excluding value added tax. Revenue is recognised when chargeable costs are incurred.

Page 13

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Pensions

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 as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

Page 14

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

As an exception to the requirements, an entity shall not take into account the effects of Pillar Two legislation when measuring deferred tax assets and deferred tax liabilities.

Page 15

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

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.

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:

Short-term leasehold improvements	-	Shorter of the term of lease or useful life of the assets (useful life currently evaluated to be 10 years)
Fixtures and fittings	-	7 years
Office equipment	-	5 years
Computer equipment	-	3 years

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.

2.11

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

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 16

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 17

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgments, 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 those 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 if the revision affects only that period, or in the period of the revision and the future period if the revision affects both current and future periods.
The more significant estimates and assumptions by management include, among others valuation and recognition of share-based payments, and accounting for income taxes. Management believes that the estimates and judgments upon which it relies are reasonable based upon information available to it at the time that these estimates and judgments were made. Actual results could differ from those estimates. To the extent that there are material differences between these estimates and actual results, the Company’s financial statements will be affected.

	Intercompany revenue	32,822,853	25,072,743

All turnover arose within the rest of the world.

Depreciation	848,089	859,378
Profit/loss on disposal of fixed assets	-	(68)
Exchange differences	16,952	(3,236)
Other operating lease rentals	2,293,581	2,196,262
Share-based payment	224,974	395,273

Page 18

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Fees payable to the Company's auditor for the audit of the Company's financial statements

23,000

16,600

Wages and salaries	19,571,970	13,725,081
Social security costs	3,618,751	2,404,686
Cost of defined contribution scheme	599,154	408,736
	23,789,875	16,538,503

The Directors are employed by other Group entities and the services provided to the Company are incidental and therefore no recharge of cost has been performed.

The average monthly number of employees, including the directors, during the year was as follows:

	2024	2023
	No.	No.

General & administration	1	5
Marketing	6	7
Product & strategy	3	2
Sales	59	66
COGS	22	19
Accounting & finance	1	5
IT	1	5
People	10	9
Director	1	1

	104	119

Page 19

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Interest receivable
		2024	2023
		£	£

Other interest receivable

159

144

Corporation tax
Current tax on profits for the year	206,009	507,599
	206,009	507,599
Foreign tax
Foreign tax on income for the year	(3,049)	68,659
Foreign tax in respect of prior periods	-	40,177
	(3,049)	108,836
Total current tax	202,960	616,435

Deferred tax
Origination and reversal of timing differences	-	(193,828)
Total deferred tax	-	(193,828)


		202,960	422,607

Page 20

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.Taxation (continued)

Profit on ordinary activities before tax

1,546,200

1,195,617

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.52%)	386,550	281,209
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	-	9,068
Capital allowances for year in excess of depreciation	-	274
Higher rate taxes on overseas earnings	-	(68,659)
Adjustments to tax charge in respect of prior periods	-	40,177
Effects of share based payments	(221,264)	92,968
Other differences leading to an increase (decrease) in the tax charge	37,674	-
Effect of changes in tax rate	-	67,570
Total tax charge for the year	202,960	422,607

Tax rate changes

In the Spring Budget 2021, the UK Government announced that from 1 April 2023 the corporation tax rate would increase to 25% (rather than remaining at 19%, as previously enacted). There has been no change to corporation tax rates for the financial year end 31 December 2024. For the financial year ended 31 December 2024 the weighted average tax rate is 25% (31 December 2023 weighted average tax rate was 23.52%). Deferred taxes at the balance sheet date have been measured using these enacted tax rates and reflected in these financial statements.
Pillar Two - Global Minimum Tax
In accordance with the OECD's global tax reform framework, the Company is subject to the rules under Pillar Two of the OECD's Base Erosion and Profit Shifting (BEPS) initiative, which aims to establish a global minimum tax rate. These rules are designed to ensure that the effective tax rate of multinational enterprises does not fall below a globally agreed minimum threshold. As of CY24, the Company applied the Transitional Safe Harbor provisions provided under the Pillar 2 rules. These provisions are designed to ease the implementation of the global minimum tax rate by providing temporary relief and certainty with respect to the computation of Effective Tax Rates (ETRs) and the calculation of top-up taxes.

Page 21

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Tangible fixed assets

	Short-term leasehold improve-ments	Fixtures and fittings	Office equipment	Computer equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	2,495,855	828,675	405,980	372,630	4,103,140
Additions	-	-	2,879	32,051	34,930
At 31 December 2024	2,495,855	828,675	408,859	404,681	4,138,070
Depreciation
At 1 January 2024	703,119	149,564	111,581	254,880	1,219,144
Charge for the year on owned assets	547,891	116,935	83,897	99,366	848,089
At 31 December 2024	1,251,010	266,499	195,478	354,246	2,067,233
Net book value
At 31 December 2024	1,244,845	562,176	213,381	50,435	2,070,837
At 31 December 2023	1,792,736	679,111	294,399	117,750	2,883,996

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OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

11.

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	5,904,609	1,782,262
Other debtors	338,428	267,986
Prepayments and accrued income	469,575	664,825
	6,712,612	2,715,073

Amounts owed by group undertakings are interest free and repayable on demand.

12.	Cash and cash equivalents
		2024	2023
		£	£

	Cash at bank and in hand	602,177	2,136,206

13.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	31,091	132,155
Amounts owed to group undertakings	62,018	908,827
Corporation tax	523,617	173,192
Other taxation and social security	248	519,724
Other creditors	101,246	219,290
Accruals and deferred income	4,314,833	1,759,803
	5,033,053	3,712,991

Amounts owed to group undertakings are interest free and repayable on demand.

14.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

	Accruals and deferred income	-	1,025,991

Page 23

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15.	Deferred taxation

	2024	2023
	£	£

At beginning of year	(213,758)	(407,586)
Charged to profit or loss	-	193,828
At end of year	(213,758)	(213,758)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

Accelerated capital allowances	(351,326)	(351,326)
Share-based payments	79,151	79,151
Other	58,417	58,417
	(213,758)	(213,758)

The net deferred tax liability expected to reverse in the next 12 months is expected to be 213,758 (2023: £102,204 asset).

16.	Provisions

		Asset retirement obligation
		£

	At 1 January 2024	150,355
	Charged to profit or loss	13,040
	At 31 December 2024	163,395

As part of its property leasing arrangements, the Company has an obligation to return the property to its original condition. Where the Company has conducted significant leasehold improvements it has an obligation to remove these improvements. The present value of the expected cost is capitalised as a part of the leasehold improvement asset.
After the balance sheet date, on 26 August 2025, the lease and all obligations under the lease were assigned to Salesforce UK Limited, the parent company. The assignment of the lease and the release of the Company's obligations will be accounted for in next accounting period.

Page 24

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

17.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 (2023 - 100) Ordinary share shares of £1.00 each	100	100

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.

18.

Reserves

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

Page 25

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

19.	Share-based payments
	In August 2016, the parent company's Board of Directors adopted a share option plan ("the Plan"), under which options to purchase the parent company's ordinary shares may be granted to employees, officers, directors, consultants, and service providers of the parent company and its subsidiaries, including the Company. Options granted under the Plan are exercisable until ten years from the date of the grant. The fair value of stock options granted was calculated using the Black-Scholes model. The model is internationally recognised as being appropriate to value employee similar share schemes.
		Weighted average exercise price ($) 2024	Number 2024	Weighted average exercise price ($) 2023	Number 2023

Outstanding at the beginning of the year	2.01	1,173,951	1.37	1,919,043
Granted during the year	-	-	4.52	150,710
Forfeited during the year	2.57	(877,558)	2.00	(147,416)
Exercised during the year	0.35	(296,393)	0.40	(504,788)
Expired during the year	-	-	2.18	(243,598)
Outstanding at the end of the year	-	-	2.01	1,173,951

Following the acquisition by Salesforce, Inc. all awards were cancelled and a bonus was paid in respect of awards that had vested at the acquisition date. This has been accounted for as a settlement arrangement in accordance with FRS 102.

Page 26

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

20.	Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £599,154 (2023: £408,736). Contributions totalling £82,675 (2023: £100,118) were payable to the fund at the balance sheet date and are included in creditors.

Not later than 1 year	1,949,659	2,084,326
Later than 1 year and not later than 5 years	2,653,105	4,525,885
	4,602,764	6,610,211

After the balance sheet date, on 26 August 2025, the lease and all obligations under the lease were assigned to Salesforce UK Limited, the parent company. The lease payments due up to 25 August 2025 amount to £1,248,520. All remaining obligations transferred to Salesforce UK Limited on that date.

22.	Post balance sheet events

Page 27

OWNCOMPANY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

23.	Controlling party

At the year end, the Company's immediate parent company was OwnCompany Inc., a Company incorporated in the United States of America.
On November 18, 2024, Salesforce, Inc., a company incorporated in the United States of America, became the ultimate controlling party and the parent undertaking of both the largest and smallest group of undertakings of which the Company is a member and for which group financial statements are drawn up. Copies of its consolidated financial statements may be obtained from Salesforce, Inc., Salesforce Tower, 415 Mission Street 3rd Floor, San Francisco CA 94105, United States of America or at the following website: http://investor.Salesforce .com.
On 6 January 2025 ownership of the Company was transferred to Salesforce UK Limited which became the immediate parent Company. The ultimate parent company remains Salesforce, Inc.

Page 28