IRIS Accounts Production v25.4.12.37 13449521 Board of Directors 1.4.25 31.12.25 31.12.25 false true false false false true false Ordinary 1.00000 Ordinary B 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 13449521 2025-03-31 13449521 2025-12-31 13449521 2025-04-01 2025-12-31 13449521 2024-03-31 13449521 2024-04-01 2025-03-31 13449521 2025-03-31 13449521 ns15:EnglandWales 2025-04-01 2025-12-31 13449521 ns14:PoundSterling 2025-04-01 2025-12-31 13449521 ns10:Director1 2025-04-01 2025-12-31 13449521 ns10:PrivateLimitedCompanyLtd 2025-04-01 2025-12-31 13449521 ns10:SmallEntities 2025-04-01 2025-12-31 13449521 ns10:AuditExempt-NoAccountantsReport 2025-04-01 2025-12-31 13449521 ns10:SmallCompaniesRegimeForAccounts 2025-04-01 2025-12-31 13449521 ns10:FullAccounts 2025-04-01 2025-12-31 13449521 1 2025-04-01 2025-12-31 13449521 ns10:OrdinaryShareClass1 2025-04-01 2025-12-31 13449521 ns10:OrdinaryShareClass2 2025-04-01 2025-12-31 13449521 ns10:Director2 2025-04-01 2025-12-31 13449521 ns10:RegisteredOffice 2025-04-01 2025-12-31 13449521 ns5:CurrentFinancialInstruments 2025-12-31 13449521 ns5:CurrentFinancialInstruments 2025-03-31 13449521 ns5:Non-currentFinancialInstruments 2025-12-31 13449521 ns5:Non-currentFinancialInstruments 2025-03-31 13449521 ns5:ShareCapital 2025-12-31 13449521 ns5:ShareCapital 2025-03-31 13449521 ns5:SharePremium 2025-12-31 13449521 ns5:SharePremium 2025-03-31 13449521 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-12-31 13449521 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-03-31 13449521 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 13449521 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 13449521 ns5:NetGoodwill 2025-03-31 13449521 ns5:NetGoodwill 2025-04-01 2025-12-31 13449521 ns5:NetGoodwill 2025-12-31 13449521 ns5:NetGoodwill 2025-03-31 13449521 ns5:ComputerEquipment 2025-03-31 13449521 ns5:ComputerEquipment 2025-12-31 13449521 ns5:ComputerEquipment 2025-03-31 13449521 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 13449521 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 13449521 ns5:Non-currentFinancialInstruments 2025-04-01 2025-12-31 13449521 ns10:OrdinaryShareClass1 2025-12-31 13449521 ns10:OrdinaryShareClass2 2025-12-31 13449521 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 13449521 ns5:SharePremium 2025-03-31 13449521 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-03-31 13449521 ns5:RetainedEarningsAccumulatedLosses 2025-04-01 2025-12-31

REGISTERED NUMBER: 13449521 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2025 to 31 December 2025

for

2rsq Services Ltd

2rsq Services Ltd (Registered number: 13449521)

Contents of the Financial Statements

for the Period 1 April 2025 to 31 December 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

2rsq Services Ltd

Company Information

for the Period 1 April 2025 to 31 December 2025

| DIRECTORS: | Mr R Amin

| Mr R Moisa

| REGISTERED OFFICE: | 71-75 Shelton Street

| Covent Garden

| London

| WC2H 9JQ

| REGISTERED NUMBER: | 13449521 (England and Wales)

| ACCOUNTANTS: | GrowthBuilders Insight LLP

| 71-75 Shelton Street

| Covent Garden

| London

| WC2H 9JQ

2rsq Services Ltd (Registered number: 13449521)

Balance Sheet

31 December 2025

31/12/25 | 31/3/25 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Intangible assets | 3 | 208,486 |  | 235,679 |  |

Tangible assets | 4 | - |  | - |  |

208,486 |  | 235,679 |  |

CURRENT ASSETS

Debtors | 5 | 97,361 |  | 207,655 |  |

Cash at bank | 65,134 |  | 317,919 |  |

162,495 |  | 525,574 |  |

CREDITORS

Amounts falling due within one year | 6 | 93,080 |  | 104,775 |  |

NET CURRENT ASSETS | 69,415 |  | 420,799 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 277,901 |  | 656,478 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 154,486 |  | 1,717,285 |  |

NET ASSETS/(LIABILITIES) | 123,415 |  | (1,060,807 | ) |

2rsq Services Ltd (Registered number: 13449521)

Balance Sheet - continued

31 December 2025

31/12/25 | 31/3/25 |

| Notes | £ | £ | £ | £

CAPITAL AND RESERVES

Called up share capital | 8 | 635,288 |  | 567,801 |  |

Share premium | 9 | 4,311,584 |  | 2,571,603 |  |

Share based payment reserve | 9 | 677,874 |  | 309,739 |  |

Retained earnings | 9 | (5,501,331 | ) | (4,509,950 | ) |

SHAREHOLDERS' FUNDS | 123,415 |  | (1,060,807 | ) |

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 7 April 2026 and were signed on its behalf by:

Mr R Moisa - Director

2rsq Services Ltd (Registered number: 13449521)

Notes to the Financial Statements

for the Period 1 April 2025 to 31 December 2025

1. | ACCOUNTING POLICIES

| General information

| 2RSQ Services Ltd is a private Company limited by shares incorporated in England and Wales

| within the United Kingdom. The registration number is 13449521 and the address of the

| registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ. The Company

| is not part of a group.

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

| 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.

| The following principal accounting policies have been applied:

| Going concern

| The business has been developing a product which is now ready for market and as such loss making periods are expected. For the period ended 31 December 2025, the company has recorded a loss before tax of £1,066,019 (31 March 2025: £1,468,872) and has net assets as at that date of £123,415 (31 March 2025: net liabilities of £1,060,807). The financial statements have been prepared on the going concern basis which assumes that the company will continue as a going concern for the foreseeable future.

| The directors' assessment of going concern has been based on consideration of the level of cash held by the company at the date of approving these financial statements, the cost base of the company, reviewing forecasts including cashflow forecasts. They have also considered the continuing financial support of the company's directors and shareholders, including the need for further investment if required. Accordingly, the directors are satisfied that the company will be able to meet its liabilities as they fall due for the foreseeable future and therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

| Turnover

| Turnover represents amounts receivable for investment portfolio platform services and software integration and consultancy services net of VAT and trade discounts to the extent that the company has a right to consideration arising from the performance of its contractual obligations.

2rsq Services Ltd (Registered number: 13449521)

Notes to the Financial Statements - continued

for the Period 1 April 2025 to 31 December 2025

| Revenue Recognition

| Revenue is recognised when access to the portfolio management platform is granted or as the software integration and/or consultancy services are delivered. Where revenue is received for software licences, revenue is recognised on the day the service commences and is apportioned on a straight line basis over the contract term as the services are rendered. Services are deemed to be delivered on a continuous basis throughout the course of the contract.

| Research and development

| In the research phase of an internal project it is not possible to demonstrate that the project will

| generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.

| If it is not possible to distinguish between the research phase and the development phase of

| an internal project, the expenditure is treated as if it were all incurred in the research phase only.

| Interest income

| Interest income is recognised in profit or loss using the effective interest method.

| Employee pension scheme

| The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

| The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

| 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 balance sheet 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.

2rsq Services Ltd (Registered number: 13449521)

Notes to the Financial Statements - continued

for the Period 1 April 2025 to 31 December 2025

| 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 cancelled or lapse, the charge is accelerated in accordance with FRS 102.

| Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received over the vesting period.

| Taxation

| Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

| The current income tax charge is calculated on the basis of tax rates and laws that have been

| enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

| Intangible Fixed Assets

| Goodwill

| Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

| All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2rsq Services Ltd (Registered number: 13449521)

Notes to the Financial Statements - continued

for the Period 1 April 2025 to 31 December 2025

1. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

| Depreciation is provided on the following basis:

| Office equipment - 33% straight line

| Computer equipment - 33% straight line

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted

| prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 4 (2025 - 5 ) .

3. | INTANGIBLE FIXED ASSETS

Goodwill |

| £

| COST

| At 1 April 2025

| and 31 December 2025 | 362,583 |  |

| AMORTISATION

| At 1 April 2025 | 126,904 |  |

| Amortisation for period | 27,193 |  |

| At 31 December 2025 | 154,097 |  |

| NET BOOK VALUE

| At 31 December 2025 | 208,486 |  |

| At 31 March 2025 | 235,679 |  |

2rsq Services Ltd (Registered number: 13449521)

Notes to the Financial Statements - continued

for the Period 1 April 2025 to 31 December 2025

4. | TANGIBLE FIXED ASSETS

Computer |

equipment |

| £

| COST

| At 1 April 2025

| and 31 December 2025 | 6,331 |  |

| DEPRECIATION

| At 1 April 2025

| and 31 December 2025 | 6,331 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 March 2025 | - |  |

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

31/12/25 | 31/3/25 |

| £ | £

| Trade debtors | 14,846 |  | 41,983 |  |

| Provision for Doubtful Debts | (14,846 | ) | - |  |

| Refundable Deposits | - |  | 7,038 |  |

| Tax recoverable | 74,638 |  | 132,643 |  |

| VAT | 4,479 |  | 7,758 |  |

| Prepayments | 18,244 |  | 18,233 |  |

97,361 |  | 207,655 |  |

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

31/12/25 | 31/3/25 |

| £ | £

| Trade creditors | 40,210 |  | 13,723 |  |

| Social security and other taxes | 2,618 |  | 10,628 |  |

| Pensions payable | 257 |  | 514 |  |

| Accruals and deferred income | 49,995 |  | 79,910 |  |

93,080 |  | 104,775 |  |

2rsq Services Ltd (Registered number: 13449521)

Notes to the Financial Statements - continued

for the Period 1 April 2025 to 31 December 2025

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

31/12/25 | 31/3/25 |

| £ | £

| Advanced Subscriptions | - |  | 1,717,285 |  |

| Director loan | 154,486 |  | - |  |

154,486 |  | 1,717,285 |  |

| On 9 June 2025, advanced subscription agreements with a total value of £1,799,985 were converted into ordinary share capital.

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31/12/25 | 31/3/25 |

value: |  | £ | £

| 634,854 | Ordinary | 1 | 634,854 |  | 567,651 |  |

| 434 | Ordinary B | 1 | 434 |  | 150 |  |

635,288 |  | 567,801 |  |

9. | RESERVES

Share based |

Retained | Share | payment |

earnings | premium | reserve | Totals |

| £ | £ | £ | £

| At 1 April 2025 | (4,509,950 | ) | 2,571,603 |  | 309,739 |  | (1,628,608 | ) |

| Deficit for the period | (991,381 | ) | (991,381 | ) |

| Cash share issue | - |  | 1,739,981 |  | - |  | 1,739,981 |  |

| Share based payment reserve | - |  | - |  | 368,135 |  | 368,135 |  |

| At 31 December 2025 | (5,501,331 | ) | 4,311,584 |  | 677,874 |  | (511,873 | ) |

2rsq Services Ltd (Registered number: 13449521)

Notes to the Financial Statements - continued

for the Period 1 April 2025 to 31 December 2025

10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| During 2024, the Directors advanced the company loans totalling £330,000 which were repayable by 31/5/24. Interest was charged at 12.5% per annum and the Directors had the option to convert the loans and accrued interest into shares in the event of a funding round. On 20 March 2024, £309,760 of the balance was converted into an advanced subscription agreement and on 16 April 2024 a further £30,840 was converted into an advanced subscription agreement. At the year end, the balance outstanding on the loan to Directors was £nil (31 March 2025: £nil).

| During 2025, a Director advanced the company a loan of £150,000 and interest accrues at the rate of 12.5% per annum. The capital and interest is due to be repaid in three years

2rsq Services Ltd (Registered number: 13449521)

Notes to the Financial Statements - continued

for the Period 1 April 2025 to 31 December 2025

11. | SHARE-BASED PAYMENT TRANSACTIONS

| 2RSQ Services Ltd operates an approved equity-settled share based remuneration scheme (EMI) for its employees and directors and an unapproved equity-settled share option scheme for advisors and contractors. All employees and directors are eligible to participate in the long term EMI scheme once they have completed two years of service.

| Options were granted under the EMI scheme in 2022 and 2023 for one director and one employee. During 2024, a further tranche of EMI options were granted to two employees and a tranche of options were granted under the unapproved option scheme to advisors and contractors.

| There were four types of options granted with different vesting conditions. The options granted have either an immediate vesting condition, a linear 12 month vesting condition, a linear 4-year time-based vesting condition or a back-loaded 4-year time-based vesting condition. The maximum term of options granted is 10 years. The method of settlement is equity.

|  | Weighted average exercise price |  | Number |  | Weighted average exercise price |  | Number |

|  | 31-12-2025 |  | 31-12-2025 |  | 31-03-2025 |  | 31-03-2025 |

|  | £ |  | No |  | £ |  | No |

| Outstanding at beginning of year |  | 3,360p |  | 17,570 |  | 3,373p |  | 8,103 |

| Granted during the year |  | 3,542p |  | 2,791 |  | 2,899p |  | 9,617 |

| Exercised during the year |  | 2,899p |  | 284 |  | 3,615p |  | 150 |

| Expired during the year |  | 3,072p |  | 5,054 |  | - |  | - |

| Outstanding at end of the year |  | 3,419p |  | 15,023 |  | 3,360p |  | 17,570 |

|  | 31-12-2025 |  | 31-03-2025 |  |

| Option pricing model used |  | Black Scholes |  | Black Scholes |  |

| Weighted average share price |  | 28.92 |  | 34.08 |  |

| Exercise price |  | 1 |  | 1 |  |

| Weighted average contractual life (years) |  | 5 |  | 5 |  |

| Expected volatility |  | 50% |  | 50% |  |

| Expected dividend growth rate |  | 0% |  | 0% |  |

| Risk-free interest rate |  | 3.81% |  | 3.93% |  |

12. | PENSION COMMITMENTS

| The Company operates a defined contribution 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 as on 31 December 2025 to the fund and amounted to £1,761 (31 March 2025: £2,642) . Contributions totalling £257 (31 March 2025: £514) were payable to the fund at the balance sheet date and are included in creditors.