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REGISTERED NUMBER: 08506088 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 OCTOBER 2025 |

| FOR |

| BRAINTREE LIMITED |

BRAINTREE LIMITED (REGISTERED NUMBER: 08506088)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

BRAINTREE LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 OCTOBER 2025

| DIRECTORS: | N Gurianov

| J Bryant Pearson

| J Giwa-Majekodunmi

| G A Taylor

| SECRETARY: | J Giwa-Majekodunmi

| REGISTERED OFFICE: | Unit 6 North Downs Business Park

| Lime Pit Lane

| Kent

| TN13 2TL

| REGISTERED NUMBER: | 08506088 (England and Wales)

| ACCOUNTANTS: | THP Limited

| Chartered Accountants

| 34-40 High Street

| Wanstead

| London

| E11 2RJ

BRAINTREE LIMITED (REGISTERED NUMBER: 08506088)

BALANCE SHEET

31 OCTOBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 1,048,674 |  | 491,147 |  |

Tangible assets | 5 | 92,895 |  | 47,894 |  |

Investments | 6 | 761,200 |  | 1,364,289 |  |

1,902,769 |  | 1,903,330 |  |

CURRENT ASSETS

Debtors | 7 | 147,367 |  | 67,674 |  |

Cash at bank and in hand | 1,010,851 |  | 835,978 |  |

1,158,218 |  | 903,652 |  |

CREDITORS

Amounts falling due within one year | 8 | 4,202,376 |  | 3,860,432 |  |

NET CURRENT LIABILITIES | (3,044,158 | ) | (2,956,780 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (1,141,389 | ) | (1,053,450 | ) |

CREDITORS

Amounts falling due after more than one year | 9 | 2,226,348 |  | - |  |

NET LIABILITIES | (3,367,737 | ) | (1,053,450 | ) |

CAPITAL AND RESERVES

Called up share capital | 100,002 |  | 100,002 |  |

Share premium | 6,279,959 |  | 6,279,959 |  |

Retained earnings | (9,747,698 | ) | (7,433,411 | ) |

(3,367,737 | ) | (1,053,450 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 20 January 2026 and were signed on its behalf by:

J Giwa-Majekodunmi - Director

BRAINTREE LIMITED (REGISTERED NUMBER: 08506088)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1. | STATUTORY INFORMATION

| Braintree 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Going concern

| The accounts have been prepared on a going concern basis, not withstanding that the company has negative retained earnings. Adequate financial support will be provided by the directors and shareholders for the next twelve months. It is the intention that this should continue until such time that the company's principal activities generate sufficient revenue to sustain its costs.

| The directors consider that the financial statements which are prepared on a going concern basis show a true and fair view.

| The financial statements contain no adjustments that would have resulted had the accounts been prepared on any other basis.

| 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.

| Trademarks, patents & licences are being amortised evenly over their estimated useful life of ten years.

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

| Tangible fixed assets

| 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:

| Fixtures and fittings - 25% on cost

| Plant and machinery - 25% on cost

| Computer equipment - 25% on cost

| 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.

| Research and Development tax credits are recognised when received.

| 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.

BRAINTREE LIMITED (REGISTERED NUMBER: 08506088)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

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

| 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.

| Software development costs

| Internally generated software development costs are expensed as they are incurred. Externally generated development costs in the form of intellectual property acquired is capitalised.

| Investments in simple agreements for future equity (safes)

| Investments in Simple Agreements for Future Equity (SAFEs) are classified as other financial instruments under Section 12 of FRS 102, as the return is not fixed and settlement is in a variable number of equity instruments.

| SAFE investments are initially recognised at fair value, being the consideration paid, and are subsequently measured at fair value through profit or loss at each reporting date.

| Changes in fair value are recognised within profit or loss.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 1 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 November 2024 | 545,600 |  |

| Additions | 674,500 |  |

| At 31 October 2025 | 1,220,100 |  |

| AMORTISATION

| At 1 November 2024 | 54,453 |  |

| Charge for year | 116,973 |  |

| At 31 October 2025 | 171,426 |  |

| NET BOOK VALUE

| At 31 October 2025 | 1,048,674 |  |

| At 31 October 2024 | 491,147 |  |

BRAINTREE LIMITED (REGISTERED NUMBER: 08506088)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Computer |

| machinery |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 November 2024 | 1,747 |  | 29,766 |  | 114,896 |  | 146,409 |  |

| Additions | - |  | - |  | 61,948 |  | 61,948 |  |

| Disposals | - |  | - |  | (2,166 | ) | (2,166 | ) |

| At 31 October 2025 | 1,747 |  | 29,766 |  | 174,678 |  | 206,191 |  |

| DEPRECIATION

| At 1 November 2024 | 1,747 |  | 29,186 |  | 67,582 |  | 98,515 |  |

| Charge for year | - |  | 523 |  | 16,018 |  | 16,541 |  |

| Eliminated on disposal | - |  | - |  | (1,760 | ) | (1,760 | ) |

| At 31 October 2025 | 1,747 |  | 29,709 |  | 81,840 |  | 113,296 |  |

| NET BOOK VALUE

| At 31 October 2025 | - |  | 57 |  | 92,838 |  | 92,895 |  |

| At 31 October 2024 | - |  | 580 |  | 47,314 |  | 47,894 |  |

6. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 November 2024 | 1,364,289 |  |

| Disposals | (573,924 | ) |

| Exchange differences | (29,165 | ) |

| At 31 October 2025 | 761,200 |  |

| NET BOOK VALUE

| At 31 October 2025 | 761,200 |  |

| At 31 October 2024 | 1,364,289 |  |

| The above investments relate to a Simple Agreement for Future Equity (SAFE) with Prophecta Corp valued at £761,200 (2024: £777,828) and shares held in TheAIWorks Inc (2024: £586,461). The latter were written off in the year as TheAIWorks Inc has gone into liquidation and no return on investment is expected.

| Prophecta Corp is an unlisted company and the SAFE provides the Company with the right to receive equity in the investee upon the occurrence of a qualifying financing or liquidity event.

| The investment is classified as an other financial instrument and is measured at fair value through profit or loss. Fair value is determined using management's estimate of the expected value of the underlying equity, having regard to recent transactions and expected future financing events.

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

2025 | 2024 |

£ | £ |

| Trade debtors | 66,441 |  | - |  |

| Other debtors | - |  | 765 |  |

| VAT | 43,128 |  | 14,029 |  |

| Prepayments and accrued income | 37,798 |  | 52,880 |  |

147,367 |  | 67,674 |  |

BRAINTREE LIMITED (REGISTERED NUMBER: 08506088)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

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

2025 | 2024 |

£ | £ |

| Trade creditors | 9,462 |  | - |  |

| Amounts owed to group undertakings | 3,849,752 |  | 3,558,233 |  |

| Social security and other taxes | (13,322 | ) | (2,805 | ) |

| Other creditors | 1,029 |  | 589 |  |

| Directors' current accounts | 237,495 |  | 206,998 |  |

| Accrued expenses | 117,960 |  | 97,417 |  |

4,202,376 |  | 3,860,432 |  |

| The above balance for amounts owed to group undertakings includes interest payable accrued at 6-7% per annum.

| The above Directors' current accounts balance includes interest payable accrued at 7% per annum.

| See note 15 for further details on the above.

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

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | 2,226,348 |  | - |  |

| The above balance for amounts owed to group undertakings includes interest payable accrued at 6-7% per annum.

| The total amounts owed to group undertakings is £6,076,100 (2024: £3,558,233).

10. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 100,000 |  | 100,000 |  |

| Between one and five years | 150,000 |  | 250,000 |  |

250,000 |  | 350,000 |  |

BRAINTREE LIMITED (REGISTERED NUMBER: 08506088)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

11. | RELATED PARTY DISCLOSURES

| At the previous year end, Other Debtors comprised £765 owed to Braintree Limited by Lion & Fox Limited - company under common control of directors. This balance was cleared in full in the year.

| Comprised within creditors are loans issued to Braintree Limited by their shareholder Stylized Enterprises Limited totalling £6,076,100 including interest accrued at 6-7% per annum (2024: £3,558,233).

| Nikolay Gurianov, a director, has loan arrangements with the Company whereby he has invested funds in the company. Interest is accrued on these loans at 7% pa and they are repayable upon demand.

| In addition to this, at the previous year-end, both he and the Company owed money due to having paid expenses on the other's behalf and Nikolay Gurianov had being loaned funds by Braintree Limited too. These balances have been settled in full but while outstanding accrued interest at 5% pa.

| The transactions undertaken by Nikolay Gurianov are summarised as follows:

|  | Funds invested/ drawn as a directors loan/(repaid) |  | Expenses paid on the company/ director's behalf |  | Total balance owed to Nikolay Gurianov |  |

|  | £ |  | £ |  | £ |  |

| Balance at 31 October 2024 |  | 208,945 |  | (1,946 | ) | 206,998 |  |

| Transactions during the year to October 2025 |  |

| Loan interest payable |  | 31,132 |  | - |  | 31,132 |  |

| Loan interest receivable |  | (636) |  | - |  | (636 | ) |

| Repayment |  | (1,946) |  | 1,946 |  | - |  |

| Balance at 31 October 2025 |  | 237,495 |  | - |  | 237,495 |  |

12. | ULTIMATE CONTROLLING PARTY

| The controlling party is N Gurianov.