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REGISTERED NUMBER: 14937255 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

SALTO LABS UK LIMITED

| SALTO LABS UK LIMITED (REGISTERED NUMBER: 14937255) |

Contents of the Financial Statements

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| SALTO LABS UK LIMITED |

Company Information

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTOR: | R Tamir

| REGISTERED OFFICE: | 4th Floor, St. James House

| St. James Square

| Cheltenham

| GL50 3PR

| REGISTERED NUMBER: | 14937255 (England and Wales)

| AUDITORS: | Byrd Link Audit & Accountancy Services Limited

| Statutory Auditor

| Honeybourne Place

| Jessop Avenue

| Cheltenham

| Gloucestershire

| GL50 3SH

| SALTO LABS UK LIMITED (REGISTERED NUMBER: 14937255) |

Balance Sheet

31 DECEMBER 2024

| 2024 |  | 2023

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 4 | 382,245 |  | - |  |

Cash at bank | 80,693 |  | 1,791 |  |

462,938 |  | 1,791 |  |

CREDITORS

Amounts falling due within one year | 5 | 461,483 |  | 1,888 |  |

NET CURRENT ASSETS/(LIABILITIES) | 1,455 |  | (97 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,455 |  | (97 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Share based compensation | 15,754 |  | - |  |

Retained earnings | (14,399 | ) | (197 | ) |

1,455 |  | (97 | ) |

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 director and authorised for issue on 5 February 2026 and were signed by:

R Tamir - Director

| SALTO LABS UK LIMITED (REGISTERED NUMBER: 14937255) |

Notes to the Financial Statements

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Salto Labs UK 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.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| 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.

| All amounts have been rounded to the nearest £1 pound sterling, unless otherwise indicated.

| The company's functional and presentational currency is GBP.

| Going concern

| The financial statements have not been prepared on a going concern basis which the director considers to be appropriate since the company ceased trading in the next financial period. As a result, assets and liabilities have been measured on a break up basis. Assets are carried at the lower of their carrying value and their estimated recoverable amounts, being the amounts expected to be realised through sale. Liabilities are measured at the amounts expected to be settled.

| Depreciation based on the continuing use of assets has ceased, and provisions have been recognised for costs directly attributable to the cessation of trading. Comparative figures have not been restated and were prepared on a going concern basis.

| Critical accounting judgements and key sources of estimation uncertainty

| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| The director concluded that, due to the nature of the business, there are no critical accounting judgements or key sources of estimation uncertainty that are required to be disclosed here.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| 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.

| Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables and receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

| 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.

| SALTO LABS UK LIMITED (REGISTERED NUMBER: 14937255) |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| 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 operational result.

| 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.

| 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.

| Debtors

| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

| Creditors

| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

| 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). 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2023 - NIL ) .

| SALTO LABS UK LIMITED (REGISTERED NUMBER: 14937255) |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

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

2024 | 2023 |

£ | £ |

| Trade debtors | 284,419 |  | - |  |

| Amounts owed by group undertakings | 94,821 |  | - |  |

| Other debtors | 3,005 |  | - |  |

382,245 |  | - |  |

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

2024 | 2023 |

£ | £ |

| Trade creditors | 11,964 |  | - |  |

| Amounts owed to group undertakings | - |  | 1,888 |  |

| Taxation and social security | 26,856 |  | - |  |

| Other creditors | 422,663 |  | - |  |

461,483 |  | 1,888 |  |

6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Russel Byrd FCA (Senior Statutory Auditor)

| for and on behalf of Byrd Link Audit & Accountancy Services Limited

7. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. | POST BALANCE SHEET EVENTS

| The entity ceased to trade during 2025 due to lack of future funding, and with effect of 9 September 2025 the company no longer held any employees therefore, is not preparing its financial statements on a going concern basis as management determined that it intends to liquidate the entity in 2026.

9. | ULTIMATE CONTROLLING PARTY

| The company is a wholly owned subsidiary of Salto Labs Inc. a company incorporated in Delaware, USA whose principal address is 1160 Battery Street East, San Francisco, CA 94111 USA.

10. | 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 £15,087 (2023: NIL).

| Contributions totalling £7,129 (2023: NIL) were payable to the fund at the reporting date.