IRIS Accounts Production v26.1.0.640 12384812 Board of Directors 1.1.25 31.12.25 31.12.25 Medium entities expense management through a card network. false true true false false true true true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 775.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 12384812 2024-12-31 12384812 2025-12-31 12384812 2025-01-01 2025-12-31 12384812 2023-12-31 12384812 2024-01-01 2024-12-31 12384812 2024-12-31 12384812 ns15:EnglandWales 2025-01-01 2025-12-31 12384812 ns14:PoundSterling 2025-01-01 2025-12-31 12384812 ns10:Director1 2025-01-01 2025-12-31 12384812 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 12384812 ns10:MediumEntities 2025-01-01 2025-12-31 12384812 ns10:Audited 2025-01-01 2025-12-31 12384812 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 12384812 ns10:Medium-sizedCompaniesRegimeForAccounts 2025-01-01 2025-12-31 12384812 ns10:FullAccounts 2025-01-01 2025-12-31 12384812 ns10:OrdinaryShareClass1 2025-01-01 2025-12-31 12384812 ns10:Director6 2025-01-01 2025-12-31 12384812 ns10:RegisteredOffice 2025-01-01 2025-12-31 12384812 ns10:Director2 2025-01-01 2025-12-31 12384812 ns10:Director3 2025-01-01 2025-12-31 12384812 ns10:Director4 2025-01-01 2025-12-31 12384812 ns10:Director5 2025-01-01 2025-12-31 12384812 ns5:CurrentFinancialInstruments 2025-12-31 12384812 ns5:CurrentFinancialInstruments 2024-12-31 12384812 ns5:ShareCapital 2025-12-31 12384812 ns5:ShareCapital 2024-12-31 12384812 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 12384812 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 12384812 ns5:ShareCapital 2023-12-31 12384812 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 12384812 ns5:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 12384812 ns5:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 12384812 ns5:ReportableOperatingSegment1 2025-01-01 2025-12-31 12384812 ns5:ReportableOperatingSegment1 2024-01-01 2024-12-31 12384812 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2025-01-01 2025-12-31 12384812 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2024-01-01 2024-12-31 12384812 11 2025-01-01 2025-12-31 12384812 11 2024-01-01 2024-12-31 12384812 1 2025-01-01 2025-12-31 12384812 1 2024-01-01 2024-12-31 12384812 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 12384812 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 12384812 ns5:CurrentFinancialInstruments 2025-01-01 2025-12-31 12384812 ns10:OrdinaryShareClass1 2025-12-31 12384812 ns5:RetainedEarningsAccumulatedLosses 2024-12-31

REGISTERED NUMBER: 12384812 (England and Wales)

Expensemate Ltd

Report of the Directors and

Financial Statements for the Year Ended 31st December 2025

Expensemate Ltd (Registered number: 12384812)

Contents of the Financial Statements

for the year ended 31st December 2025

Page |

Company Information | 1 |

Report of the Directors | 2 |

Report of the Independent Auditors | 4 |

Statement of Comprehensive Income | 7 |

Balance Sheet | 8 |

Statement of Changes in Equity | 9 |

Notes to the Financial Statements | 10 |

Expensemate Ltd

Company Information

for the year ended 31st December 2025

| DIRECTORS: | T Lange

| S Herbst

| REGISTERED OFFICE: | 86-90 Paul Street

| London

| EC2A 4NE

| REGISTERED NUMBER: | 12384812 (England and Wales)

| AUDITORS: | Smailes Goldie

| Chartered Accountants

| Statutory Auditor

| Regent's Court

| Princess Street

| Hull

| East Yorkshire

| HU2 8BA

Expensemate Ltd (Registered number: 12384812)

Report of the Directors

for the year ended 31st December 2025

The directors present their report with the financial statements of the company for the year ended 31st December 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31st December 2025.

FUTURE DEVELOPMENTS

Following the acquisition of the company by Done.ai Group AB on 1 April 2025, the directors are focused on the continued growth and development of the Expensemate platform. The company will continue to provide corporate expense management solutions, enabling businesses to issue and manage employee spending cards, with revenues derived from subscription and interchange fees.

The directors anticipate that the strategic and financial support of the group will enable the company to invest in its platform capabilities and expand its customer base during the coming year.

DIRECTORS

The directors who have held office during the period from 1st January 2025 to the date of this report are as follows:

R M A Clarke - resigned 1st April 2025

T J Rix - resigned 1st April 2025

H J Rix - resigned 1st April 2025

M Binnington - resigned 1st April 2025

T Lange - appointed 1st April 2025

S Herbst - appointed 1st April 2025

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

The group has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

GOING CONCERN

These financial statements are prepared on a going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The support of the group, headed by Done.ai Group AB, the ultimate parent company, has been confirmed and therefore the directors are of the view that the company will be able to operate for at least the next 12 months.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Expensemate Ltd (Registered number: 12384812)

Report of the Directors

for the year ended 31st December 2025

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Smailes Goldie, will be proposed for re-appointment in accordance with Section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

S Herbst - Director

16th April 2026

Report of the Independent Auditors to the Members of

Expensemate Ltd

Opinion

We have audited the financial statements of Expensemate Ltd (the 'company') for the year ended 31st December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31st December 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Expensemate Ltd

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,

including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, tax legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including

obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- |  | performed analytical procedures to identify any unusual or unexpected relationships; |

- |  | tested journal entries to identify unusual transactions; |

- |  | assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |

- |  | investigated the rationale behind significant or unusual transactions. |

Report of the Independent Auditors to the Members of

Expensemate Ltd

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- |  | agreeing financial statement disclosures to underlying supporting documentation; and |

- |  | enquiring of management as to actual and potential litigation and claims. |

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves

intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

William Cowell FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

16th April 2026

Expensemate Ltd (Registered number: 12384812)

Statement of Comprehensive Income

for the year ended 31st December 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 242,823 |  | 296,407 |  |

Cost of sales | 104,462 |  | 102,182 |  |

GROSS PROFIT | 138,361 |  | 194,225 |  |

Administrative expenses | 222,824 |  | 296,112 |  |

(84,463 | ) | (101,887 | ) |

Other operating income | 901,138 |  | - |  |

OPERATING PROFIT/(LOSS) | 5 | 816,675 |  | (101,887 | ) |

Interest payable and similar expenses | 6 | 61,954 |  | 113,400 |  |

PROFIT/(LOSS) BEFORE TAXATION | 754,721 |  | (215,287 | ) |

Tax on profit/(loss) | 7 | - |  | (613 | ) |

PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 754,721 |  | (214,674 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 754,721 |  | (214,674 | ) |

Expensemate Ltd (Registered number: 12384812)

Balance Sheet

31st December 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Stocks | 8 | - |  | 290 |  |

Debtors | 9 | 441,332 |  | 417,018 |  |

Cash at bank | 121,173 |  | 283,384 |  |

562,505 |  | 700,692 |  |

CREDITORS

Amounts falling due within one year | 10 | 1,283,341 |  | 2,176,249 |  |

NET CURRENT LIABILITIES | (720,836 | ) | (1,475,557 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (720,836 | ) | (1,475,557 | ) |

CAPITAL AND RESERVES

Called up share capital | 11 | 775 |  | 775 |  |

Retained earnings | 12 | (721,611 | ) | (1,476,332 | ) |

SHAREHOLDERS' FUNDS | (720,836 | ) | (1,475,557 | ) |

The financial statements were approved by the Board of Directors and authorised for issue on 16th April 2026 and were signed on its behalf by:

S Herbst - Director

Expensemate Ltd (Registered number: 12384812)

Statement of Changes in Equity

for the year ended 31st December 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1st January 2024 | 775 |  | (1,261,658 | ) | (1,260,883 | ) |

Changes in equity

Total comprehensive income | - |  | (214,674 | ) | (214,674 | ) |

Balance at 31st December 2024 | 775 |  | (1,476,332 | ) | (1,475,557 | ) |

Changes in equity

Total comprehensive income | - |  | 754,721 |  | 754,721 |  |

Balance at 31st December 2025 | 775 |  | (721,611 | ) | (720,836 | ) |

Expensemate Ltd (Registered number: 12384812)

Notes to the Financial Statements

for the year ended 31st December 2025

1. | STATUTORY INFORMATION

| Expensemate 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Going Concern

| These financial statements are prepared on a going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The support of the group, headed by Done.ai Group AB, the ultimate parent company, has been confirmed and therefore the directors are of the view that the company will be able to operate for at least the next 12 months.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 3.17(d);

| • | the requirement of paragraph 33.7.

| Turnover

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

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 year 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.

Expensemate Ltd (Registered number: 12384812)

Notes to the Financial Statements - continued

for the year ended 31st December 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| 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.

| Debtors and creditors receivable/payable within one year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Provisions

| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. | TURNOVER

| The turnover and profit (2024 - loss) before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Provision of card services | 242,823 |  | 296,407 |  |

242,823 |  | 296,407 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 64,142 |  | 98,055 |  |

| Social security costs | 1,752 |  | 6,328 |  |

| Other pension costs | 1,719 |  | 2,322 |  |

67,613 |  | 106,705 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Administration | 2 |  | 2 |  |

| Directors remuneration is borne by other group companies.

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | - |  | 27,000 |  |

Expensemate Ltd (Registered number: 12384812)

Notes to the Financial Statements - continued

for the year ended 31st December 2025

5. | OPERATING PROFIT/(LOSS)

| The operating profit (2024 - operating loss) is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Auditors' remuneration | 10,000 |  | - |  |

| Loan write off | (901,138 | ) | - |  |

| In the prior year, the audit fee was recognised in the ultimate parents consolidated financial statements.

| As part of the acquisition of Expensemate Limited on 1 April 2025, it was agreed that a proportion of the intercompany creditor balance outstanding at the date of acquisition would be waived and would not require repayment.

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest | - |  | 113,400 |  |

| Loan interest | 61,954 |  | - |  |

61,954 |  | 113,400 |  |

7. | TAXATION

| Analysis of the tax credit

| The tax credit on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | - |  | (613 | ) |

| Tax on profit/(loss) | - |  | (613 | ) |

| Reconciliation of total tax credit included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit/(loss) before tax | 754,721 |  | (215,287 | ) |

| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 188,680 |  | (53,822 | ) |

| Effects of:

| Income not taxable for tax purposes | (225,285 | ) | - |  |

| Deferred tax asset not recognised | 36,605 |  | - |  |

| Utilisation of tax losses across group | - |  | 53,209 |  |

| Total tax credit | - |  | (613 | ) |

Expensemate Ltd (Registered number: 12384812)

Notes to the Financial Statements - continued

for the year ended 31st December 2025

8. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | - |  | 290 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 436,169 |  | 385,983 |  |

| Amounts owed by group undertakings | - |  | 28,197 |  |

| Tax | 70 |  | 75 |  |

| Prepayments and accrued income | 5,093 |  | 2,763 |  |

441,332 |  | 417,018 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 13,839 |  | 4,706 |  |

| Amounts owed to group undertakings | 900,417 |  | 1,695,548 |  |

| Social security and other taxes | 4,200 |  | - |  |

| VAT | 3,393 |  | - |  |

| Other creditors | 351,492 |  | 435,099 |  |

| Accrued expenses | 10,000 |  | 40,896 |  |

1,283,341 |  | 2,176,249 |  |

| Interest on intercompany creditor carries a market interest rate of a 3 month compounded SONIA rate plus 2%, reviewed periodically by management. During the year the effective interest rate ranged between 4.75% and 3.75%.

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 775 | Ordinary | 775 | 775 |  | 775 |  |

| On 1 April 2025, the entire issued share capital of Expensemate Ltd was acquired by Done.ai Group AB, following which the company became a wholly owned subsidiary of the Done.ai group. Prior to this date, the company was held within the Rix Group. Concurrent with the change in ownership, all former directors resigned and two new directors, T Lange and S Herbst, were appointed to the board. The directors consider the acquisition to represent a positive development for the company, providing access to the resources and strategic direction of the wider Done.ai group to support the company's continued growth.

Expensemate Ltd (Registered number: 12384812)

Notes to the Financial Statements - continued

for the year ended 31st December 2025

12. | RESERVES

| Retained

| earnings

£ |

| At 1st January 2025 | (1,476,332 | ) |

| Profit for the year | 754,721 |  |

| At 31st December 2025 | (721,611 | ) |

| Retained Earnings

| Retained earnings represent cumulative profits and losses net of dividends and other adjustments.

13. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. | ULTIMATE CONTROLLING PARTY

| At the balance sheet date the company's immediate and parent undertaking was Done.ai Group AB.

| The company's financial statements are consolidated within the results of Done.ai Group AB whose financial statements can be obtained electronically from www.done.ai.

| There is no ultimate beneficial owner.