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REGISTERED NUMBER: 15782541 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 16 JUNE 2024 TO 30 JUNE 2025

FOR

FLUTIS LIMITED

| FLUTIS LIMITED (REGISTERED NUMBER: 15782541) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 16 JUNE 2024 TO 30 JUNE 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| FLUTIS LIMITED |

COMPANY INFORMATION

FOR THE PERIOD 16 JUNE 2024 TO 30 JUNE 2025

| DIRECTOR: | K Park

| REGISTERED OFFICE: | 71-75 Shelton Street

| Covent Garden

| London

| WC2H 9JQ

| REGISTERED NUMBER: | 15782541 (England and Wales)

| ACCOUNTANTS: | Crowe U.K. LLP

| 3rd Floor

| St George's House

| 56 Peter Street

| Manchester

| M2 3NQ

| FLUTIS LIMITED (REGISTERED NUMBER: 15782541) |

BALANCE SHEET

30 JUNE 2025

| Notes | £ | £ |

| FIXED ASSETS

| Intangible assets | 4 | 542,798 |  |

| Tangible assets | 5 | 419 |  |

543,217 |  |

| CURRENT ASSETS

| Debtors | 6 | 21,430 |  |  |

| Cash at bank | 178,294 |  |  |

199,724 |  |

| CREDITORS

| Amounts falling due within one year | 7 | 857,547 |  |

| NET CURRENT LIABILITIES | (657,823 | ) |

| TOTAL ASSETS LESS CURRENT LIABILITIES | (114,606 | ) |

| CAPITAL AND RESERVES

| Called up share capital | 17 |  |

| Retained earnings | (114,623 | ) |

(114,606 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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 11 March 2026 and were signed by:

K Park - Director

| FLUTIS LIMITED (REGISTERED NUMBER: 15782541) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 16 JUNE 2024 TO 30 JUNE 2025

1. | STATUTORY INFORMATION

| Flutis 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

| 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.

| Critical accounting judgements and key sources of estimation uncertainty

| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Turnover

| Turnover represents transaction fees and commissions for air, rail, hotel and ancillary bookings net of VAT.

| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured, which varies depending on the contractual terms of each booking.

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

| Where the company acts as agent rather than principal, turnover is recognised on the net basis as the amount of margin earned on the transaction.

| The Company enters into contracts with customers to provide travel-related services each period over the contract term. The Company's obligation to the customer is to stand ready to provide service over the contractual term. The performance obligations under these contracts are typically satisfied over time as the clients benefit from these services as they are performed. The Company receives nonrefundable transaction fees from business clients to provide access to the platform and each time a travel transaction is processed.Transaction fees are generally recognized (i) at the time a ticket is purchased for air travel reservations as the Company's performance obligation to the customer is satisfied at the time of ticketing and (ii) upon fulfillment of the reservation for hotels as the performance obligation to the hotel is not satisfied until the customer has checked-in to the hotel property.

| Certain of the Company's travel suppliers (e.g. airlines, hotels) pay commissions on tickets issued, sales and other services provided by the Company based on contractual agreements to distribute the travel supplier content. Commissions are recognised at the point at which the respective performance obligations are satisified.

| FLUTIS LIMITED (REGISTERED NUMBER: 15782541) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 16 JUNE 2024 TO 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Intangible assets

| Intangible assets are stated at cost less accumulated amortisation and impairment losses. Amortisation is charged to allocate the cost of the assets to their residual values, on a straight line basis over their estimated useful lives, as follows:

| Software - 10 years

| Amortisation is included in administrative expenses in the statement of comprehensive income.

| Where factors, such as technological advancement or changes in market price, indicate that residual value or useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to reflect the new circumstances. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired.

| Costs associated with maintaining computer software are recognised as an expense as incurred.

| Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the company are recognised as intangible assets when the following criteria are met:

| · it is technically feasible to complete the software so that it will be available for use;

| · management intends to complete the software and use or sell it;

| · it can be demonstrated how the software will generate probable future economic benefits;

| · adequate technical, financial and other resources to complete the development and to use or sell the software are available; and

| · the expenditure attributable to the software during its development can be reliably measured.

| Other development expenditures that do not meet these criteria are recognised as an expense as incurred. Development costs previously recognised as an expense are not recognised as an asset in a subsequent period.

| Tangible fixed assets

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

| Office equipment | - | 20% on cost

| Taxation

| Taxation for the period 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.

| 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 period 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.

| 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.

| FLUTIS LIMITED (REGISTERED NUMBER: 15782541) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 16 JUNE 2024 TO 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Going concern

| The directors have prepared financial forecasts taking into account expected trading performance. As a consequence, the directors believe the company is well placed to manage its business risks successfully, and have adequate resources to continue to meet its obligation as they fall due for the foreseeable future, being a period of at least twelve months from signing of these financial statements. Accordingly, the directors consider it appropriate for the financial statements to be prepared on a going concern basis.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 2 .

4. | INTANGIBLE FIXED ASSETS

| Software

£ |

| Cost

| At 16 June 2024

| and 30 June 2025 | 557,459 |  |

| Amortisation

| Amortisation for period | 14,661 |  |

| At 30 June 2025 | 14,661 |  |

| Net book value

| At 30 June 2025 | 542,798 |  |

| At 15 June 2024 | 557,459 |  |

5. | TANGIBLE FIXED ASSETS

| Office

| equipment

£ |

| Cost

| At 16 June 2024

| and 30 June 2025 | 525 |  |

| Depreciation

| Charge for period | 106 |  |

| At 30 June 2025 | 106 |  |

| Net book value

| At 30 June 2025 | 419 |  |

| At 15 June 2024 | 525 |  |

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

£ |

| Other debtors | 15,046 |  |

| VAT | 4,857 |  |

| Prepayments and accrued income | 1,527 |  |

21,430 |  |

| FLUTIS LIMITED (REGISTERED NUMBER: 15782541) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 16 JUNE 2024 TO 30 JUNE 2025

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

£ |

| Trade creditors | 67,514 |  |

| Social security and other taxes | 3,002 |  |

| Other creditors | 443,702 |  |

| Directors' loan accounts | 335,666 |  |

| Accrued expenses | 7,663 |  |

857,547 |  |

8. | LEASING AGREEMENTS

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

£ |

| Within one year | 13,200 |  |

9. | RELATED PARTY DISCLOSURES

| Included within Creditors due within one year is a director’s loan account balance of £335,666 with Kristian Park, who is a related party by virtue of their directorship and shareholding in the Company. The loan is interest free and repayable on demand.

| Included within Other creditors due within one year is a shareholder’s loan account balance of £141,000 with Christopher Aba, who is a related party by virtue of their directorship and shareholding in the Company. The loan is interest free and repayable on demand.

10. | POST BALANCE SHEET EVENTS

| Subsequent to the balance sheet date, the Company issued 3,044 Ordinary Shares and 8,547 Ordinary B Shares with a nominal value of 0.01p per share. These share issuances represent non-adjusting post balance sheet events, as they relate to conditions that arose after the reporting period. Accordingly, no adjustments have been made to the financial statements in respect of these transactions.

11. | ULTIMATE CONTROLLING PARTY

| The Company’s ultimate controlling party is the sole director, who exercises control by virtue of his majority shareholding and management role.

12. | CHANGES IN SHARE CAPITAL

| At incorporation, the Company issued 10 ordinary shares with a nominal value of £1 each.

| On 27 December 2024, the Company carried out a sub-division of share capital, dividing the 10 ordinary shares into 100,000 ordinary shares with a nominal value of £0.0001 each.

| Subsequently, and before the period end date, the Company issued an additional: 42,858 ordinary shares, 18,278 ordinary A shares, and 12,422 ordinary B shares.