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Registered number: 13882980 SIDEKICK MONEY LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
SIDEKICK MONEY LTD COMPANY INFORMATION
Directors | M J Ford
| S Newey
| P J Townsend (resigned 1 July 2025)
Registered number | 13882980
Registered office | Work.Life
| 6-7 St. Cross Street
| London
| EC1N 8UB
Independent auditors | BKL Audit LLP
| Chartered Accountants & Statutory Auditor
| 35 Ballards Lane
| London
| N3 1XW
SIDEKICK MONEY LTD CONTENTS
| Page
Strategic Report | 1 - 6
Directors' Report | 7 - 9
Independent Auditors' Report | 10 - 13
Statement of Comprehensive Income | 14
Statement of Financial Position | 15
Statement of Changes in Equity | 16
Statement of Cash Flows | 17
Notes to the Financial Statements | 18 - 32
SIDEKICK MONEY LTD STRATEGIC REPORT FOR THE YEAR ENDED 27 SEPTEMBER 2025
Introduction
Sidekick Money Ltd (“Sidekick”) was established to redefine wealth management for the mass affluent, delivering tailored financial products and tools traditionally reserved for the ultra-wealthy. By focusing on transparency, accessibility, and service, Sidekick empowers a digitally native, aspirational customer base to unlock their financial potential. Our Purpose Sidekick’s purpose is to bridge the gap between traditional private banking and modern fintech, ensuring the benefits of advanced wealth management are accessible to a broader audience. The Company’s mission is to unlock the financial advantages of the ultra-wealthy to a wider mass affluent audience. Sidekick exists to empower clients with the tools, knowledge, and confidence to grow their wealth. By focusing on transparency, trust, and inclusivity, the Company strives to ensure that clients can achieve long-term financial prosperity without needing multimillion-pound portfolios. Our Business Model Sidekick’s business model combines high-quality savings, investment, and lending solutions tailored to the needs of mass affluent customers, generating revenue through management fees, interest spreads. Key elements of Sidekick’s business model include: ∙Product Breadth: A diverse range of offerings, from passive and actively managed investment portfolios, private market LTAFs, high-yield savings account, to lombard lending facilities. This breadth allows customers to allocate their wealth across multiple asset classes and strategies within the Sidekick ecosystem. ∙Customer-Centric Technology: An intuitive, digital-first platform prioritising transparency and ease of use. Scalable cloud-based infrastructure and robust security measures ensure that as the user base grows, performance remains reliable and customer data stays safe. ∙Tailored Solutions: Sidekick blends fintech with human insight. The Company offers educational content (e.g. market commentary, in-app articles) and personalised investment options (such as custom indices aligned with individual values). This high-touch approach helps foster trust and long-term relationships, differentiating Sidekick from purely robo-advisory models. Page 1
SIDEKICK MONEY LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 27 SEPTEMBER 2025
Strategic Objectives for FY25
During the financial year ending 27 September 2025, Sidekick focused on: 1. Expanding the Client Base: Building on the prior year’s groundwork, Sidekick executed a successful wider rollout of its wealth management platform in FY25, investing in marketing and partnership campaigns to raise brand awareness, resulting in a significant increase in registered users and active clients over the year. 2. Broadening Product Offerings: Sidekick continued to enhance and diversify its product suite to deepen its value proposition, this included: Private Markets Fund: a professionally-managed Long-Term Asset Fund (LTAF), giving eligible clients access to high-growth private equity investments with minimums far lower than traditional private banking requirements. Enhanced Cash Solutions: by launching “Smart Cash”, an actively managed short-term investment solution, and Multi-Shield Savings which enables deposits to be spread across multiple partner banks for up to £255k of combined FSCS protection 3. Strengthening Operational Capacity: To support growth, Sidekick placed emphasis on scaling its internal operations, improving its processes and growing its team across key functions, including operations and engineering
Values Driving Success
Sidekick’s core values guide its mission and operations: 1. Build Trust and Respect: Transparent communication and fairness form the foundation of customer relationships. 2. Knock Down Barriers: Innovative solutions and accessibility open financial opportunities to a broader audience. 3. Be Bold: A commitment to pushing boundaries drives product development and customer engagement. These values have been designed for use both internally and with our external customers in mind.
Business review
Now in its third year of operations, Sidekick has continued to build on the strong foundations laid in prior years. During the financial year ended 27 September 2025 (“FY25”), the Company transitioned from its initial launch phase into a period of early growth and scale-up. Key milestones included the public launch of Sidekick’s wealth platform to a broader client base, the expansion of product offerings, and the growth of an engaged community of users. Sidekick also maintained a robust focus on regulatory compliance and risk management as its activities scaled. The directors are pleased to report that the Company is making solid progress towards its long-term vision while adhering to its core purpose and values. Financial and Operational Highlights ∙Registered Users and AuM growth: Over 20,000 users had signed up to Sidekick by year end, reflecting accelerated interest from Sidekick’s target audience. This has translated into significant scaling in assets under management (AuM). ∙Monetisation: During FY25, the Company halted its fee waiving programme for early adopters and moved to monetisation. Investment platform and management fees were implemented, and saving spread yields were optimised. This has since accelerated further post year end. Page 2
SIDEKICK MONEY LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 27 SEPTEMBER 2025 ∙Operational Efficiency: Sidekick delivered this significant growth with a reduced cost base compared to FY24, achieved through a lean team structure and adoption of efficient tooling and technology. Core Products in FY25 1.Cash Management: A combination of savings and investment portfolios, focused on delivering high yield solutions for short term cash. This includes Multi Shield savings, Easy Access savings, Fixed Term Savings and the Smart Cash (investment) portfolio. 2.Public Market Investments: A combination of passive low-cost ETFs, personalised indexes and actively managed portfolios, within both GIA and ISA. This includes, Global Stocks, Global Bonds, Custom Index, and All Weather portfolios 3.Private Markets: For eligible sophisticated and high net worth investors, Sidekick provides access to a Global Private Equity LTAF. 4.Lombard Lending: A lending solution, secured against a client’s investment portfolio.
Principal risks and uncertainties
Sidekick operates in a dynamic and regulated environment, requiring a proactive approach to risk management. The company’s Risk Management Framework ensures risks are identified, assessed, and mitigated effectively across financial, operational, regulatory, and market domains. Key Risks and Mitigations 1. Financial Risks: ∙Market Volatility: Diversification across asset classes and clear communication with customers mitigate the impact of external market factors. ∙Counterparty Risk: Stringent due diligence ensures reliability among third-party providers. 2. Operational Risks: ∙Technology Resilience: Regular security audits and investments in scalable infrastructure reduce risks of outages or breaches. ∙Data Privacy: Advanced encryption and compliance with GDPR safeguard sensitive customer data. 3. Regulatory Risks: ∙Compliance with FCA Regulations: Dedicated compliance personnel ensure adherence to evolving standards, including Consumer Duty obligations. ∙Complex Products: Actively managed portfolios and private market investments are supported by robust client classification, suitability and governance processes. 4. Market and Business Risks: ∙Macroeconomic Environment: Diversified product offerings and customer education mitigate the impact of inflation, interest rate changes, and economic slowdowns. ∙Customer Retention: Bundled incentives and competitive rates encourage long-term engagement and cross-product adoption. Page 3
SIDEKICK MONEY LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 27 SEPTEMBER 2025 5. Emerging Risks: ∙Technological Disruption: Monitoring advancements, such as AI, ensures Sidekick remains competitive. ∙Reputation Risk: Proactive communication and high service standards minimise potential reputational damage.
Governance and Oversight
Governance and oversight are integral to Sidekick Money’s operations, ensuring accountability, compliance, and alignment with its mission to democratise wealth-building. Sidekick’s governance framework balances innovation with regulatory obligations, safeguarding the interests of customers, regulators, and shareholders. Board of Directors The Board of Directors provides strategic direction and oversight, focusing on long-term objectives, risk management, and the evaluation of financial and operational performance. Comprising experts in fintech, investment management, compliance, and technology, the Board ensures alignment with the company’s mission and stakeholder interests. Key Committees Specialised committees, such as the Board Risk and Compliance Committee support the governance framework by providing targeted oversight. These committees ensure alignment with regulatory requirements, effective risk management, and the delivery of products that meet customer needs. Risk oversight Risk oversight is embedded into Sidekick’s governance structure. Regular assessments, escalation processes, and integration of risk considerations into decision-making ensure that financial, operational, and regulatory risks are effectively managed. Leadership Accountability Strong leadership underpins Sidekick’s governance, with the Executive Leadership Team translating strategic goals into actionable initiatives and independent directors providing objective oversight. Together, these efforts position Sidekick for sustainable growth while maintaining high standards of transparency and responsibility.
Customer Duty and Customer Outcomes
Sidekick embeds the FCA’s Consumer Duty principles across its operations, ensuring fairness, transparency, and good customer outcomes. Customer-Centric Initiatives ∙Product Design: Suitability assessments ensure products meet customer needs and deliver long-term value. ∙Transparent Communication: Sidekick prioritises clarity around fees, risks, and expected outcomes. ∙Education and Support: Initiatives such as Market Pulse and multi-channel customer support empower users to make informed decisions. Page 4
SIDEKICK MONEY LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 27 SEPTEMBER 2025
Directors' statement of compliance with duty to promote the success of the Company
The directors of Sidekick Money Ltd acknowledge their duty under Section 172 of the Companies Act 2006 to act in good faith to promote the success of the company for the benefit of its shareholders. In fulfilling this duty, the directors consider the long-term implications of their decisions and engage with key stakeholders, including shareholders, clients, suppliers, staff, and the environment. Shareholders Shareholders provide vital capital and strategic guidance to support Sidekick’s growth. The directors ensure alignment with shareholder interests through: ∙Regular Updates: Sharing performance and strategy insights via board meetings and reports. ∙Long-Term Alignment: Making decisions that prioritise sustainable growth and value creation. ∙Accountability: Establishing a governance framework that ensures shareholder interests are represented and protected in all major decisions. Clients Sidekick’s mission to democratise wealth-building puts clients at the centre of its operations. The directors focus on: ∙Customer-Centric Design: Creating products tailored to financial goals and ethical values. ∙Transparency: Ensuring clarity on fees, risks, and performance to build trust. ∙Education: Empowering clients through accessible, high-quality financial education. Suppliers Suppliers play a crucial role in Sidekick’s service delivery. The directors engage with suppliers through: ∙Due Diligence: Conducting rigorous evaluations to ensure suppliers meet high standards of reliability, financial stability, and security. ∙Collaboration: Working closely with suppliers to innovate and improve the customer experience. Staff The company’s success depends on its talented team. The directors foster a supportive workplace through: ∙Employee Development: Investing in training and professional development opportunities to help staff grow and succeed. ∙Workplace Inclusivity: Promoting a collaborative culture that values diverse perspectives and encourages innovation. ∙Wellbeing and Engagement: Supporting employee wellbeing through flexible working arrangements, mental health resources, and regular team engagement activities. ∙Recognition and Rewards: Offering competitive compensation and recognising contributions that drive the company’s success. Page 5
SIDEKICK MONEY LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 27 SEPTEMBER 2025 The Environment While Sidekick’s direct environmental impact is low, sustainability is integrated into its operations. Actions include: ∙ESG Integration: Continue to offer out environmentally aligned investment options. ∙Reducing Carbon Footprint: Minimising reliance on physical resources through cloud-based infrastructure. ∙Sustainability Focus: Continuously improving practices to reduce the company’s impact. This report was approved by the board and signed on its behalf.
M J Ford Director
Date: 21 January 2026
Page 6
SIDEKICK MONEY LTD DIRECTORS' REPORT FOR THE YEAR ENDED 27 SEPTEMBER 2025 The directors present their report and the financial statements for the year ended 27 September 2025.
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; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙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 loss for the year, after taxation, amounted to £2,628,450 (2024 - loss £2,761,014). No dividends were paid during the year £Nil (2024: £Nil). The directors do not recommend payment of a final dividend.
Directors
The directors who served during the year were:
M J Ford
S Newey
P J Townsend (resigned 1 July 2025)
Page 7
SIDEKICK MONEY LTD DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 27 SEPTEMBER 2025
Future developments
Looking ahead, Sidekick’s focus is on driving revenue growth and moving toward breakeven in the coming years. The foundations laid in FY25 – a growing client base, expanded offerings, and scalable infrastructure – are expected to translate into accelerating revenues as more clients join and existing clients increase their engagement. With the successful completion of its Series A funding round, the Company is capitalised sufficiently to deliver the next stage of its strategic objectives. The Company will continue to manage costs prudently while investing in strategic areas that fuel growth. The directors remain confident in Sidekick’s long-term financial prospects and its ability to create shareholder value, supported by a clear strategy and strong execution in FY25. Market Context and Strategic Positioning The wealth management landscape presents a compelling opportunity for Sidekick, driven by shifting demographics and evolving customer demands: ∙Generational Wealth Transfer: £327 billion is expected to transfer to younger generations by 2032, creating opportunities to engage affluent, tech-savvy investors with modern financial tools. ∙Under-Served Mass Affluent: Customers with investable wealth of £100,000–£250,000 demand personalised solutions that private banks often overlook. Sidekick’s ability to combine accessibility, transparency, and high-quality products positions it uniquely in this evolving market. Strategic Vision for 2026 and Beyond To capitalise on these market opportunities, Sidekick’s strategic roadmap focuses on four key priorities: ∙Product Leadership: Expanding and refining Sidekick’s offerings to address a broad spectrum of financial needs, from savings and investments to alternatives and personalised solutions. ∙Operational Excellence: Leveraging technology, automation, and compliance frameworks to scale efficiently without compromising service quality. ∙Customer-Centric Growth: Building deeper relationships with existing customers while attracting new ones through tailored acquisition strategies and engagement initiatives. ∙Sustainable Financial Performance: Diversifying revenue streams with subscription services and optimising pricing to ensure fair value for customers while driving profitability. Expanding the Product Suite Product innovation remains the cornerstone of Sidekick’s growth strategy. Planned initiatives for FY26 include: ∙Customised Portfolios: Expanding public market options with features like thematic baskets, enabling clients to build portfolios aligned with personal values and long-term goals. ∙Private Market Access: Deepening exposure to alternative investments via curated semi-liquid funds, private credit products, and venture capital. ∙Guidance Layer: Launching contextual financial insights, planning tools, and AI features to transform Sidekick from a transactional platform into a trusted, holistic financial partner Growing the Client Base Alongside product expansion, Sidekick is executing a multi-channel strategy to scale its client community: ∙Core Market Growth: Targeting Sidekick’s primary audience - digitally fluent professionals and entrepreneurs - through performance marketing, community referrals, and financial wellness content. Page 8
SIDEKICK MONEY LTD DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 27 SEPTEMBER 2025 ∙New Segment Activation: Developing propositions tailored to freelancers, tech employees, and senior professionals with equity-linked wealth, aligning onboarding, features, and messaging to their unique needs. ∙Community and Brand Advocacy: Investing in owned content and educational events to build trust, increase retention, and drive organic referral growth.
Disclosure of information to auditors
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 auditors are 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 auditors are aware of that information.
Post balance sheet events
There have been no significant events affecting the Company since the year end.
Auditors
The auditors, BKL Audit LLP, 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.
M J Ford Director
Date: 21 January 2026
Page 9
SIDEKICK MONEY LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIDEKICK MONEY LTD
Opinion
We have audited the financial statements of Sidekick Money Ltd (the 'Company') for the year ended 27 September 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, 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 27 September 2025 and of its loss 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 Auditors' 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.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 10
SIDEKICK MONEY LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIDEKICK MONEY LTD (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
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 7, 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 11
SIDEKICK MONEY LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIDEKICK MONEY LTD (CONTINUED)
Auditors' 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 Auditors' 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: ∙Enquiring of management and those charged with governance around actual and potential litigation and claims; ∙Enquiring of entity staff in finance and compliance functions to identify any instances of non-compliance with laws and regulations; ∙Reviewing meetings of minutes of those charged with governance; ∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; ∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; ∙Reviewing the general ledger in detail for all transactions with related parties; As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: ∙Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. ∙Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Company's internal control. ∙Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. ∙Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' Report. However, future events or conditions may cause the Company to cease to continue as a going concern. ∙Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Page 12
SIDEKICK MONEY LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIDEKICK MONEY LTD (CONTINUED) We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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 Auditors' 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. Michael Wedge FCA (Senior Statutory Auditor) for and on behalf of BKL Audit LLP Chartered Accountants Statutory Auditor London 21 January 2026 Page 13
SIDEKICK MONEY LTD STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 27 SEPTEMBER 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 79,297 | 222
Gross profit |  | 79,297 | 222
Administrative expenses |  | (2,853,610) | (2,776,807)
Operating loss | 5 | (2,774,313) | (2,776,585)
Interest receivable and similar income |  | 15,931 | 15,571
Loss before tax |  | (2,758,382) | (2,761,014)
Tax on loss |  | 129,932 | -
Loss for the financial year |  | (2,628,450) | (2,761,014)
There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of comprehensive income.
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 18 to 32 form part of these financial statements.
Page 14
SIDEKICK MONEY LTD REGISTERED NUMBER: 13882980 STATEMENT OF FINANCIAL POSITION AS AT 27 SEPTEMBER 2025
|  |  |  | As restated
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 10 |  | 26,343 |  | 32,567
Investments | 11 |  | 1 |  | 1
|  |  | 26,344 |  | 32,568
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 12 | 178,586 |  | 160,727 |
Cash at bank and in hand | 13 | 7,194,899 |  | 3,109,765 |
|  | 7,373,485 |  | 3,270,492 |
Creditors: amounts falling due within one year | 14 | (4,275,932) |  | (282,379) |
Net current assets |  |  | 3,097,553 |  | 2,988,113
Total assets less current liabilities |  |  | 3,123,897 |  | 3,020,681
Net assets |  |  | 3,123,897 |  | 3,020,681
Capital and reserves |  |  |  |  |
Called up share capital | 15 |  | 23 |  | 20
Share premium account | 16 |  | 10,352,572 |  | 7,620,909
Profit and loss account | 16 |  | (7,228,698) |  | (4,600,248)
|  |  | 3,123,897 |  | 3,020,681
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M J Ford
Director
Date: 21 January 2026
The notes on pages 18 to 32 form part of these financial statements. Page 15
SIDEKICK MONEY LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 27 SEPTEMBER 2025
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 September 2023 | 14 | 3,277,572 | (1,839,234) | 1,438,352
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (2,761,014) | (2,761,014)
Total comprehensive income for the year | - | - | (2,761,014) | (2,761,014)
Contributions by and distributions to owners |  |  |  |
Shares issued during the year | 6 | 4,343,337 | - | 4,343,343
At 28 September 2024 | 20 | 7,620,909 | (4,600,248) | 3,020,681
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (2,628,450) | (2,628,450)
Total comprehensive income for the year | - | - | (2,628,450) | (2,628,450)
Contributions by and distributions to owners |  |  |  |
Shares issued during the year | 3 | 2,731,663 | - | 2,731,666
At 27 September 2025 | 23 | 10,352,572 | (7,228,698) | 3,123,897
| The notes on pages 18 to 32 form part of these financial statements.
Page 16
SIDEKICK MONEY LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 27 SEPTEMBER 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Loss for the financial year | (2,628,450) | (2,761,014)
Adjustments for: |  |
Depreciation of tangible assets | 6,225 | 7,265
Interest received | (15,931) | (15,571)
Taxation charge | (129,932) | -
(Increase)/decrease in debtors | (17,859) | 49,538
Decrease/(increase) in amounts owed by participating ints | - | (195,292)
Increase in creditors | 28,518 | 106,160
Increase in amounts owed to groups | - | 1
Increase in amounts owed to participating ints | - | 195,292
Corporation tax received | 129,931 | -
Net cash generated from operating activities | (2,627,498) | (2,613,621)
Cash flows from investing activities |  |
Purchase of tangible fixed assets | - | (13,860)
Purchase of fixed asset investments | - | (1)
Interest received | 15,931 | 15,571
Net cash from investing activities | 15,931 | 1,710
Cash flows from financing activities |  |
Issue of shares | 2,731,666 | 4,343,343
Issue of convertible loan notes | 3,965,035 | -
Net cash used in financing activities | 6,696,701 | 4,343,343
Net increase in cash and cash equivalents | 4,085,134 | 1,731,432
Cash and cash equivalents at beginning of year | 3,109,765 | 1,378,333
Cash and cash equivalents at the end of year | 7,194,899 | 3,109,765
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 7,194,899 | 3,109,765
| 7,194,899 | 3,109,765
The notes on pages 18 to 32 form part of these financial statements.
Page 17
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
1. | General information
The principal activity of Sidekick Money Ltd ("the Company") is that of dealing in financial asset management. The Company is a private company limited by shares incorporated in England and Wales. The principal place of business is Arnold House, 21-33 Great Eastern Street, London, England, EC2A 3EJ. 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 | Exemption from preparing consolidated financial statements
The Company has taken advantage of the exemption not to produce consolidated financial statements on the basis that its only subsidiary undertaking, Sidekick Ventures Ltd, is immaterial.
| 2.3 | Going concern
The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for at least 12 months from the date of approval of these financial statements, and will be able to meet its liabilities as they fall due. The directors are confident that the Company's access to working capital is sufficient to support the business in the foreseeable future, and accordingly, consider it appropriate to prepare the financial statements on a going concern basis. Page 18
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.4 | 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.
| 2.5 | 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: 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.
| 2.6 | 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.
| 2.7 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 19
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.8 | 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.
| 2.9 | 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 reporting 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). . No charge has been recognised in the Statement of Comprehensive Income as, in the opinion of the directors, the current year and cumulative charge are immaterial. Page 20
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.10 | 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. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.
| 2.11 | 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. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Computer equipment | - | 25% | reducing balance
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. Page 21
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.12 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.13 | 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. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
| 2.14 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. (i) Financial assets Basic financial assets, including trade and other debtors, and amounts owed by group undertakings, 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. 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. (ii) Financial liabilities Basic financial liabilities, including trade and other creditors and accruals, 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. Page 22
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.14 | Financial instruments (continued)
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. (iii) Offsetting Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the year end and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Commission Income | 79,297 | 222
| Total Income | 79,297 | 222
| All turnover arose within the United Kingdom.
5. | Operating loss
| The operating loss is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation | 6,224 | 7,265
| Exchange differences | (1,656) | (4,726)
| Other operating lease rentals | 90,761 | 80,872
| Share-based payment | 65,004 | 65,004
Page 23
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
6. | Auditors' remuneration
| During the year, the Company obtained the following services from the Company's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the Company's financial statements | 15,375 | 10,000
| Fees payable to the Company's auditors in respect of: |  |
| Audit-related assurance services | 4,000 | 2,500
| Taxation compliance services | 1,875 | 1,750
| Preparation of financial statements | 4,000 | 3,750
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 1,105,095 | 1,274,917
| Social security costs | 131,751 | 153,169
| Cost of defined contribution scheme | 24,300 | 26,075
|  | 1,261,146 | 1,454,161
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Employees | 12 | 14
Page 24
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 190,533 | 207,500
| Company contributions to defined contribution pension schemes | 2,868 | 5,170
|  | 193,401 | 212,670
| During the year retirement benefits were accruing to 2 directors (2024 - 2) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £90,000 (2024 - £90,000).
| The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £900 (2024 - £2,695).
Page 25
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
9. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Adjustments in respect of previous periods | (129,932) | -
| Total current tax | (129,932) | -
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - the same as) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Loss on ordinary activities before tax | (2,758,382) | (2,761,014)
| Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | (689,596) | (690,254)
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 1,415 | -
| R&D tax relief | (129,932) | -
| Unrelieved tax losses carried forward | 694,541 | 690,254
| Other differences leading to an increase (decrease) in the tax charge | (6,360) | -
| Total tax charge for the year | (129,932) | -
| Factors that may affect future tax charges
The Company has carried forward tax losses of £7,398,310 (2024: £4,627,166) that are available to offset against future trading profits. Page 26
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
10. | Tangible fixed assets
|  | Computer equipment
|  | £
| Cost or valuation |
| At 28 September 2024 | 45,186
| At 27 September 2025 | 45,186
| Depreciation |
| At 28 September 2024 | 12,619
| Charge for the year on owned assets | 6,224
| At 27 September 2025 | 18,843
| Net book value |
| At 27 September 2025 | 26,343
| At 27 September 2024 | 32,567
11. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 28 September 2024 | 1
| At 27 September 2025 | 1
Page 27
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| Sidekick Ventures Ltd | 6-7 St. Cross Street, London, England, EC1N 8UB | Ordinary | 100%
| The aggregate of the share capital and reserves as at 27 September 2025 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:
| Name | Aggregate of share capital and reserves | Profit/(Loss)
| Sidekick Ventures Ltd | 1 | -
| On the basis of its immaterality to the Group, the Company has taken advantage of the exemption not to produce consolidated financial statements.
12. | Debtors
|  |  |  |  |  | As restated
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 31,954 | -
| Other debtors | 37,963 | 70,764
| Prepayments and accrued income | 108,669 | 89,963
|  | 178,586 | 160,727
13. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 7,194,899 | 3,109,765
|  | 7,194,899 | 3,109,765
Page 28
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
14. | Creditors: Amounts falling due within one year
|  |  |  |  |  | As restated
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 163,974 | 180,097
| Amounts owed to group undertakings | 1 | 1
| Other creditors | 4,029,832 | 77,743
| Accruals and deferred income | 82,125 | 24,538
|  | 4,275,932 | 282,379
15. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1,003,304 (2024 - 1,000,000) A ordinary shares shares of £0.000010 each | 10 | 10
|  | 383,161 (2024 - 383,161) Pre-seed ordinary shares shares of £0.000010 each | 4 | 4
|  | 627,615 (2024 - 627,615) Series seed ordinary shares shares of £0.000010 each | 6 | 6
|  | 337,752 (2024 - Nil)) Series A ordinary shares shares of £0.000010 each | 3 | -
|  |  | 23 | 20
| Each class represents an equity interest in the Company. All shares have full rights in the Company with respect to voting, dividends and distributions.
16. | Reserves
Share premium account Includes all amounts paid over and above the nominal value of shares issued less transaction costs. Profit and loss account Includes all current and accumulated profits and losses. Page 29
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
17. | Share-based payments
| The Company operates a share-based payment scheme for its key employees. Certain employees are granted share options in the Company. The options are granted with a fixed exercise price, and are exercisable as follows: Year one: 25% Year two: 50% Year three: 75% Year four: 100% A reconciliation of share option movements over the period to 27 September 2024 is shown below:
|  | Weighted average exercise price (pence) 2025 | Number 2025 | Weighted average exercise price (pence) 2024 | Number 2024
| Outstanding at the beginning of the year | 126 | 52,890 | 104 | 99,751
| Granted during the year | 225 | 11,855 | 150 | 18,657
| Forfeited during the year | 145 | (30,700) | -100 | (65,518)
| Outstanding at the end of the year | 141 | 34,045 | 126 | 52,890
| No charge has been recognised in the Statement of Comprehensive Income as, in the opinion of the directors, the current year and cumulative charge are immaterial.
18. | Prior year adjustment
The comparative information in these financial statements have been restated from the figures previously reported to reflect a presentational adjustment. The impact of the adjustment has been to decrease debtors due within one year by £195,292 and decrease creditors due within one year by the same amount. There has been no impact on profit or net assets as a result of this presentational adjustment. Page 30
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
19. | Contingent liabilities
On 17 September 2025, the Company issued unsecured convertible loan notes totalling £4,000,000. The notes accrue at 8% per annum. The maturity date is the earlier of 24 months from agreement date or a later date agreed in writing between the majority of Noteholders and the Company. Under the terms of the Company’s convertible loan agreements, noteholders have the option to require redemption of the notes at principal plus accrued interest and a redemption premium upon certain events, including: a. Immediately prior to an Exit Event, b. On maturity, c. Following a material breach of the agreement. The redemption premium is not payable unless these events occur and the noteholder majority elects redemption. The occurrence and timing of these events are uncertain and outside the Company's control. Accordingly, the potential obligation to pay the redemption premium represents a contingent liability. The financial effect cannot be measured reliably.
20. | Pension commitments
The Company operates a defined contributions 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 £24,300 (2024: £26,075). Contributions totalling £3,817 (2024: £7,924) were payable to the fund at the balance sheet date and are included in creditors.
21. | Commitments under operating leases
| At 27 September 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 | 9,600 | 80,872
| Later than 1 year and not later than 5 years | 4,800 | -
|  | 14,400 | 80,872
22. | Related party transactions
| Included in other creditors is an amount of £291 (2024: £291) owed to the Directors of the Group. Included in amounts owed to group undertakings is an amount of £1 (2024: £1) owed to the subsidiary, Sidekick Ventures Ltd. Included in administration expenses is an amount of £903 (2024: £195,292) relating to a provision against an amount owed from a related party.
Page 31
SIDEKICK MONEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 SEPTEMBER 2025
23. | Controlling party
There is no ultimate controlling party.
Page 32