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Registration number: 13761548

Turnleaf Analytics Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

Turnleaf Analytics Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 9

Turnleaf Analytics Ltd

Company Information

Directors | S Amen L Cheytanov A Denev M Somers K Stoyanov P D Weck

Registered office | 60 Cannon Street London EC4N 6NP

Turnleaf Analytics Ltd

(Registration number: 13761548)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 5,133 | 6,233
Tangible assets | 5 | 6,376 | 10,633
|  | 11,509 | 16,866
Current assets |  |  |
Debtors | 6 | 266,838 | 240,520
Cash at bank and in hand |  | 20,259 | 182,490
|  | 287,097 | 423,010
Creditors: Amounts falling due within one year | 7 | (271,312) | (247,869)
Net current assets |  | 15,785 | 175,141
Net assets |  | 27,294 | 192,007
Capital and reserves |  |  |
Called up share capital | 9 | 5 | 5
Share premium reserve |  | 1,170,132 | 1,170,132
Other reserves | 11 | 17,022 | 3,931
Retained earnings |  | (1,159,865) | (982,061)
Shareholders' funds |  | 27,294 | 192,007

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.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2026 and signed on its behalf by:

Turnleaf Analytics Ltd

(Registration number: 13761548)
Balance Sheet as at 31 December 2025

......................................... S Amen Director
......................................... A Denev Director

Turnleaf Analytics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
60 Cannon Street
London
EC4N 6NP

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Turnleaf Analytics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 33% straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Trademarks, patents and licenses | 10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Turnleaf Analytics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share based payments

The cost and corresponding increase in equity in respect of equity-settled share-based payment transactions with employees are measured by reference to the fair value of equity instruments issued at the date of grant. Amounts are expensed on a straight line basis over the vesting period based on the estimate of shares that will eventually vest and adjusted for the effect of non market-based vesting conditions. The cost and fair value of the liability incurred in respect of cash-settled transactions is measured using an appropriate option pricing model with changes in fair value recognised in profit or loss for the period.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2024 - 8).

4 | Intangible assets

| Trademarks, patents and licenses £ | Total £
Cost or valuation
At 1 January 2025 | 11,000 | 11,000
At 31 December 2025 | 11,000 | 11,000
Amortisation
At 1 January 2025 | 4,767 | 4,767
Amortisation charge | 1,100 | 1,100
At 31 December 2025 | 5,867 | 5,867
Carrying amount
At 31 December 2025 | 5,133 | 5,133
At 31 December 2024 | 6,233 | 6,233

Turnleaf Analytics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 January 2025 | 19,194 | 19,194
Additions | 2,066 | 2,066
Disposals | (1,019) | (1,019)
At 31 December 2025 | 20,241 | 20,241
Depreciation
At 1 January 2025 | 8,561 | 8,561
Charge for the year | 5,737 | 5,737
Eliminated on disposal | (433) | (433)
At 31 December 2025 | 13,865 | 13,865
Carrying amount
At 31 December 2025 | 6,376 | 6,376
At 31 December 2024 | 10,633 | 10,633

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 149,346 | 89,698
Prepayments | 19,184 | 19,422
Other debtors | 98,308 | 131,400
| 266,838 | 240,520

Turnleaf Analytics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 3,590 | 12,574
Taxation and social security | 11,230 | 18,556
Accruals and deferred income | 247,931 | 184,185
Other creditors | 8,561 | 32,554
| 271,312 | 247,869

8 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 54,087 | 52,800
Later than one year and not later than five years | 4,517 | 4,400
| 58,604 | 57,200

The amount of non-cancellable operating lease payments recognised as an expense during the year was £52,474 (2024 - £40,932).

Turnleaf Analytics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £0.000001 each | 5,051,250 | 5.05 | 5,051,250 | 5.05

10 | Share-based payments

The Company has a share option scheme for certain employees. As at 31 December 2025, the total number of employees of the Company that share options have been granted to is 11 (2024: 5), and the total number of
options granted available for exercise is 154,052 (2024: 88,260). In certain circumstances the options may lapse if the relevant individual ceases to be an employee of the Company.
Options are generally exercisable at a price equal to the estimated fair value of the Company's shares on the date of grant.
The fair value of the share options at the grant date was calculated using the Black-Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value.

11 | Other reserves

Other reserves represents the cumulative amounts charged to profit in respect of employee share option arrangements that have not yet been settled by awarding shares to individuals, and its purpose is to ensure that
the financial statements accurately reflect the impact of share-based compensation on the company's equity. Once employee share option arrangements are settled via the allotment of shares, the cumulative amounts
charged to profit in respect of these shares is transferred to retained earnings.