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REGISTERED NUMBER: 08579879 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025

FOR

AXSY SOFTWARE (UK) LTD

AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

AXSY SOFTWARE (UK) LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST DECEMBER 2025

| DIRECTOR: | S Sondhi

| REGISTERED OFFICE: | 1 Doughty Street

| London

| WC1N 2PH

| REGISTERED NUMBER: | 08579879 (England and Wales)

AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879)

BALANCE SHEET

31ST DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 274,412 |  | 268,663 |  |

Tangible assets | 5 | 12,860 |  | 28,042 |  |

287,272 |  | 296,705 |  |

CURRENT ASSETS

Debtors | 6 | 512,837 |  | 709,144 |  |

Cash at bank | 70,779 |  | 11,644 |  |

583,616 |  | 720,788 |  |

CREDITORS

Amounts falling due within one year | 7 | 14,877,151 |  | 13,102,230 |  |

NET CURRENT LIABILITIES | (14,293,535 | ) | (12,381,442 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (14,006,263 | ) | (12,084,737 | ) |

CREDITORS

Amounts falling due after more than one year | 8 | 5,878,872 |  | 6,026,099 |  |

NET LIABILITIES | (19,885,135 | ) | (18,110,836 | ) |

CAPITAL AND RESERVES

Called up share capital | 9 | 1 |  | 1 |  |

Retained earnings | (19,885,136 | ) | (18,110,837 | ) |

SHAREHOLDERS' FUNDS | (19,885,135 | ) | (18,110,836 | ) |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 16th February 2026 and were signed by:

S Sondhi - Director

AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

1. | STATUTORY INFORMATION

| Axsy Software (UK) Ltd 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

| 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.

| At the year-end, the company balance sheet had net current liabilities and net liabilities. These financial statements have been prepared on the going concern basis, which is dependent on the following considerations by the directors:

| - Financial projections indicate that the company will continue to meet its liabilities as they fall due over the next twelve months.

| - The company has received assurance from its ultimate parent undertaking that they will continue to provide financial and other supports to meet its liabilities as they fall due for at least next twelve months from the date of signing these financial statements.

| Turnover

| Turnover comprises income from software licences, fees for the right to use managed Software as a Service ('mSaaS'), and the sale of hardware. Income from software licences is recognised according to the contractual agreements with customers.

| Income from mSaaS is recognised pro-rata over the period of the contract. Hardware sales are recognised when delivery takes place.

| In all cases, income is deferred if invoiced and/or received prior to recognition, and accrued if invoiced and or received after the date of recognition.

| 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.

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

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 33% on cost and 20% on reducing balance

| 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.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 20 (2024 - 22 ) .

AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2025

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1st January 2025 | 5,047,564 |  |

| Additions | 190,625 |  |

| At 31st December 2025 | 5,238,189 |  |

| AMORTISATION

| At 1st January 2025 | 4,778,901 |  |

| Charge for year | 184,876 |  |

| At 31st December 2025 | 4,963,777 |  |

| NET BOOK VALUE

| At 31st December 2025 | 274,412 |  |

| At 31st December 2024 | 268,663 |  |

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1st January 2025 | 196,556 |  |

| Additions | 999 |  |

| At 31st December 2025 | 197,555 |  |

| DEPRECIATION

| At 1st January 2025 | 168,514 |  |

| Charge for year | 16,181 |  |

| At 31st December 2025 | 184,695 |  |

| NET BOOK VALUE

| At 31st December 2025 | 12,860 |  |

| At 31st December 2024 | 28,042 |  |

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

2025 | 2024 |

£ | £ |

| Amounts owed by group undertakings | - |  | 138,465 |  |

| Other debtors | 512,837 |  | 570,679 |  |

512,837 |  | 709,144 |  |

AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2025

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

2025 | 2024 |

£ | £ |

| Trade creditors | 2,332,689 |  | 2,040,424 |  |

| Amounts owed to group undertakings | 12,528,701 |  | 10,996,502 |  |

| Other creditors | 15,761 |  | 65,304 |  |

14,877,151 |  | 13,102,230 |  |

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

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | 5,878,872 |  | 6,026,099 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 1 | Ordinary | 1.00 | 1 |  | 1 |  |

10. | ULTIMATE CONTROLLING PARTY

| Axsy Inc (incorporated in USA) is regarded by the director as being the company's ultimate parent company.