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REGISTERED NUMBER: 12415626 (England and Wales)

Financial Statements for the Year Ended 31 January 2026

for

Smartgrade Ltd

Smartgrade Ltd (Registered number: 12415626)

Contents of the Financial Statements

for the Year Ended 31 January 2026

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Smartgrade Ltd

Company Information

for the Year Ended 31 January 2026

| DIRECTORS: | J M Diaz Angulo

| J J Perry

| REGISTERED OFFICE: | Lytchett House

| 13 Freeland Park

| Wareham Road

| Poole

| Dorset

| BH16 6FA

| REGISTERED NUMBER: | 12415626 (England and Wales)

| ACCOUNTANTS: | We`ll Mind Your Own Business LTD

| 39 Long Acre

| London

| WC2E 9LG

Smartgrade Ltd (Registered number: 12415626)

Balance Sheet

31 January 2026

| 31.1.26 | 31.1.25 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 142,443 |  | - |  |

Tangible assets | 5 | 4,514 |  | 3,545 |  |

146,957 |  | 3,545 |  |

CURRENT ASSETS

Debtors | 6 | 23,319 |  | 19,894 |  |

Cash at bank | 406,972 |  | 208,006 |  |

430,291 |  | 227,900 |  |

CREDITORS

Amounts falling due within one year | 7 | 130,301 |  | 101,644 |  |

NET CURRENT ASSETS | 299,990 |  | 126,256 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 446,947 |  | 129,801 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 181,104 |  | - |  |

NET ASSETS | 265,843 |  | 129,801 |  |

Smartgrade Ltd (Registered number: 12415626)

Balance Sheet - continued

31 January 2026

| 31.1.26 | 31.1.25 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 9 | 1,260 |  | 1,260 |  |

Share premium | 10 | 299,740 |  | 299,740 |  |

Retained earnings | 10 | (35,157 | ) | (171,199 | ) |

SHAREHOLDERS' FUNDS | 265,843 |  | 129,801 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 15 April 2026 and were signed on its behalf by:

J M Diaz Angulo - Director

Smartgrade Ltd (Registered number: 12415626)

Notes to the Financial Statements

for the Year Ended 31 January 2026

1. | STATUTORY INFORMATION

| Smartgrade 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Turnover

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

| Intangible assets

| Intangible assets comprise educational intellectual property and trademarks acquired by the company. They are stated at cost less accumulated amortisation and any impairment losses.

| Educational IP

| Educational IP is amortised on a reducing-basis profile of 40%, 30%, 20% and 10% over four years. This reflects the expected front-loaded consumption of economic benefits, based on the directors’ assessment that educational materials are typically updated or replaced within this timeframe.

| Trademark

| Trademark registration costs are recognised as intangible assets at cost when they are expected to generate future economic benefits. The cost includes registration fees and directly attributable legal and professional costs.

| Amortisation is charged on a straight-line basis over five years, commencing when the asset is available for use.

| The amortisation method and useful economic life of each asset are reviewed annually and adjusted if necessary.

| Tangible fixed assets

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

| Computer equipment - 33% on cost

| Fixtures and fittings, office equipment - 20% on cost

Smartgrade Ltd (Registered number: 12415626)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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.

| Interest income

| Interest income is recognised when it probable that the economic benefits will flow to the Group and the amount of income can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 10 (2025 - 8 ) .

4. | INTANGIBLE FIXED ASSETS

| Patents |

| and |

| Trademark |  | licences |  | Totals

£ | £ | £ |

| COST

| Additions | 7,569 |  | 225,000 |  | 232,569 |  |

| At 31 January 2026 | 7,569 |  | 225,000 |  | 232,569 |  |

| AMORTISATION

| Amortisation for year | 126 |  | 90,000 |  | 90,126 |  |

| At 31 January 2026 | 126 |  | 90,000 |  | 90,126 |  |

| NET BOOK VALUE

| At 31 January 2026 | 7,443 |  | 135,000 |  | 142,443 |  |

Smartgrade Ltd (Registered number: 12415626)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 February 2025 | - |  | 7,485 |  | 7,485 |  |

| Additions | 443 |  | 2,939 |  | 3,382 |  |

| At 31 January 2026 | 443 |  | 10,424 |  | 10,867 |  |

| DEPRECIATION

| At 1 February 2025 | - |  | 3,940 |  | 3,940 |  |

| Charge for year | 28 |  | 2,385 |  | 2,413 |  |

| At 31 January 2026 | 28 |  | 6,325 |  | 6,353 |  |

| NET BOOK VALUE

| At 31 January 2026 | 415 |  | 4,099 |  | 4,514 |  |

| At 31 January 2025 | - |  | 3,545 |  | 3,545 |  |

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

| 31.1.26 |  | 31.1.25

£ | £ |

| Trade debtors | 18,241 |  | 9,865 |  |

| VAT | - |  | 2,184 |  |

| Prepayments and accrued income | 5,078 |  | 7,845 |  |

23,319 |  | 19,894 |  |

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

| 31.1.26 |  | 31.1.25

£ | £ |

| Trade creditors | 7,462 |  | 4,253 |  |

| Tax | - |  | 515 |  |

| VAT | 6,861 |  | - |  |

| Other creditors | 1,000 |  | - |  |

| Accruals and deferred income | 114,978 |  | 96,876 |  |

130,301 |  | 101,644 |  |

Smartgrade Ltd (Registered number: 12415626)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

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

| 31.1.26 |  | 31.1.25

£ | £ |

| Other creditors | 181,104 |  | - |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.1.26 |  | 31.1.25

| value: | £ | £ |

| 1,260 | Ordinary | 1 | 1,260 |  | 1,260 |  |

10. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 February 2025 | (171,199 | ) | 299,740 |  | 128,541 |  |

| Profit for the year | 136,042 |  | 136,042 |  |

| At 31 January 2026 | (35,157 | ) | 299,740 |  | 264,583 |  |

11. | RELATED PARTY DISCLOSURES

| During the year, the company made sales of £76,761 (2025: £69,648) to Carousel Learning Limited, a related party by virtue of common directorship. At the year end, Carousel Learning Limited owed the company £5,078 (2025: £7,525).

| During the year, the company purchased services amounting to £415,876 (2025: £248,294) from Aircury Ltd, a related party by virtue of common directorship. These services were purchased on an arm's length basis. At year end, there was outstanding balance of £30,533 (2025: £49,419) to Aircury Ltd.