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Company No: 10721068 (England and Wales)

# SHERPR GLOBAL LTD

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

SHERPR GLOBAL LTD

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

SHERPR GLOBAL LTD

## BALANCE SHEET

As at 31 December 2025
SHERPR GLOBAL LTD

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 4 | 93,254 |  | 122,544
Tangible assets | 5 | 4,265 |  | 6,366
Investments | 6 | 74 |  | 74
|  | 97,593 |  | 128,984
Current assets |  |  |  |
Debtors | 7 | 936,864 |  | 952,594
Cash at bank and in hand |  | 1,120 |  | 95,110
|  | 937,984 |  | 1,047,704
Creditors: amounts falling due within one year | 8 | ( 784,645) |  | ( 644,324)
Net current assets |  | 153,339 |  | 403,380
Total assets less current liabilities |  | 250,932 |  | 532,364
Creditors: amounts falling due after more than one year | 9 | 0 |  | ( 4,390)
Net assets |  | 250,932 |  | 527,974
Capital and reserves |  |  |  |
Called-up share capital |  | 290 |  | 280
Share premium account |  | 4,316,062 |  | 4,316,072
Profit and loss account |  | ( 4,065,420 ) |  | ( 3,788,378 )
Total shareholders' funds |  | 250,932 |  | 527,974

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Sherpr Global Ltd (registered number: 10721068) were approved and authorised for issue by the Director. They were signed on its behalf by:

Mr P R Stewart Director |

12 March 2026

SHERPR GLOBAL LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
SHERPR GLOBAL LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Sherpr Global Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 71-75 Shelton Street, London, WC2H 9JQ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue is recognised in accordance with delivery terms.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.
Fair value is measured by use of the Black Scholes pricing model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Research and development expenditure

Research and development expenditure is written off against profits in the year in which it is incurred with the exception of development work which is directly related to income generation. These costs are capitalised as intangible fixed assets.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software | 33 % reducing balance
Development costs | 33 % reducing balance
Trademarks, patents and licences | 33 % reducing balance

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 33 % reducing balance
Fixtures and fittings | 33 % reducing balance
Computer equipment | 33 % reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

##### Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

#### 3. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 10 |  | 18

#### 4. Intangible assets

| Computer software |  | Development costs |  | Trademarks, patents and licences |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 January 2025 | 412,980 |  | 12,961 |  | 570 |  | 426,511
Additions | 13,950 |  | 0 |  | 0 |  | 13,950
At 31 December 2025 | 426,930 |  | 12,961 |  | 570 |  | 440,461
Accumulated amortisation |  |  |  |  |  |  |
At 01 January 2025 | 291,308 |  | 12,166 |  | 493 |  | 303,967
Charge for the financial year | 42,952 |  | 262 |  | 26 |  | 43,240
At 31 December 2025 | 334,260 |  | 12,428 |  | 519 |  | 347,207
Net book value |  |  |  |  |  |  |
At 31 December 2025 | 92,670 |  | 533 |  | 51 |  | 93,254
At 31 December 2024 | 121,672 |  | 795 |  | 77 |  | 122,544

#### 5. Tangible assets

| Plant and machinery |  | Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 January 2025 | 1,014 |  | 4,981 |  | 17,644 |  | 23,639
At 31 December 2025 | 1,014 |  | 4,981 |  | 17,644 |  | 23,639
Accumulated depreciation |  |  |  |  |  |  |
At 01 January 2025 | 753 |  | 4,470 |  | 12,050 |  | 17,273
Charge for the financial year | 86 |  | 169 |  | 1,846 |  | 2,101
At 31 December 2025 | 839 |  | 4,639 |  | 13,896 |  | 19,374
Net book value |  |  |  |  |  |  |
At 31 December 2025 | 175 |  | 342 |  | 3,748 |  | 4,265
At 31 December 2024 | 261 |  | 511 |  | 5,594 |  | 6,366

#### 6. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 January 2025 | 74
At 31 December 2025 | 74
Carrying value at 31 December 2025 | 74
Carrying value at 31 December 2024 | 74

#### 7. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 10,652 |  | 95,002
Corporation tax | 18,002 |  | 26,872
Other debtors | 908,210 |  | 830,720
| 936,864 |  | 952,594

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 4,416 |  | 10,409
Trade creditors | 33,176 |  | 126,924
Amounts owed to Parent undertakings | 88,378 |  | 0
Amounts owed to fellow subsidiaries | 385,132 |  | 282,200
Other taxation and social security | 120,133 |  | 22,946
Other creditors | 153,410 |  | 201,845
| 784,645 |  | 644,324

#### 9. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 4,390

There are no amounts included above in respect of which any security has been given by the small entity.

#### 10. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

| 2025 |  | 2024
| £ |  | £
Charge to profit or loss in respect of defined pension schemes | 6,725 |  | 9,146

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the year end the company had an unpaid pension liability of £1,386 (2024: £460).

#### 11. Related party transactions

The company has taken exemption under Section 33.1A of FRS 102 from disclosing related party transactions between two or more 100% members of the same group.
The company became a 100% subsidiary of Uni Baggage Ltd on 27 November 2025. The parent company holds a floating charge over all property and undertakings of the Sherpr Global Ltd.