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REGISTERED NUMBER: 13792640 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Code First Girls Limited

| Code First Girls Limited (Registered number: 13792640) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Code First Girls Limited |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | A Bentinck

| M P Clifford

| A Brailsford

| T D Profumo

| REGISTERED OFFICE: | 3rd Floor

| 20-24 Old Street

| London

| EC1V 9AP

| REGISTERED NUMBER: | 13792640 (England and Wales)

| ACCOUNTANTS: | Wilson Partners Limited

| 1st Floor

| One Suffolk Way

| Sevenoaks

| Kent

| TN13 1YL

| Code First Girls Limited (Registered number: 13792640) |

Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 980,028 |  | 1,127,032 |  |

Tangible assets | 5 | 8,055 |  | 23,907 |  |

Investments | 6 | 100 |  | 100 |  |

988,183 |  | 1,151,039 |  |

CURRENT ASSETS

Debtors | 7 | 987,390 |  | 979,526 |  |

Cash at bank | 1,990,911 |  | 2,493,837 |  |

2,978,301 |  | 3,473,363 |  |

CREDITORS

Amounts falling due within one year | 8 | 1,023,637 |  | 985,862 |  |

NET CURRENT ASSETS | 1,954,664 |  | 2,487,501 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,942,847 |  | 3,638,540 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 12 |  | 12 |  |

Share premium | 10 | 6,277,163 |  | 6,274,191 |  |

Share Option reserve | 10 | 42,868 |  | 27,152 |  |

Retained earnings | 10 | (3,377,196 | ) | (2,662,815 | ) |

SHAREHOLDERS' FUNDS | 2,942,847 |  | 3,638,540 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year 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 5 May 2026 and were signed on its behalf by:

A Brailsford - Director

| Code First Girls Limited (Registered number: 13792640) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Code First Girls Limited 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

| The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

| Significant judgements and estimates

| In the application of the company's accounting policies the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The company does not make significant estimates and assumptions concerning the future.

| 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 fixed assets - goodwill

| Goodwill represents the excess of the cost of the asset purchase in August 2022, over the fair value of the net identifiable assets acquired. Goodwill is included within ‘intangible assets’ and is carried at cost less accumulated amortisation and accumulated impairment losses.

| Goodwill amortisation is calculated by applying the straight-line method to its estimated useful life. If a reliable estimate cannot be made, the useful economic life of goodwill is presumed to be 10 years. Goodwill is being amortised to ‘administrative expenses’ over a 10 year period.

| Tangible fixed assets

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

| Fixtures and fittings | - | 20% on cost

| Computer equipment | - | 33% on cost

| Financial instruments

| Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

| 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.

| Code First Girls Limited (Registered number: 13792640) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Holiday pay accrual

| A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 43 (2024 - 62 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 1,470,042 |  |

| AMORTISATION

| At 1 January 2025 | 343,010 |  |

| Amortisation for year | 147,004 |  |

| At 31 December 2025 | 490,014 |  |

| NET BOOK VALUE

| At 31 December 2025 | 980,028 |  |

| At 31 December 2024 | 1,127,032 |  |

| Code First Girls Limited (Registered number: 13792640) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 6,387 |  | 69,811 |  | 76,198 |  |

| Additions | - |  | 2,366 |  | 2,366 |  |

| Disposals | - |  | (4,681 | ) | (4,681 | ) |

| At 31 December 2025 | 6,387 |  | 67,496 |  | 73,883 |  |

| DEPRECIATION

| At 1 January 2025 | 1,941 |  | 50,350 |  | 52,291 |  |

| Charge for year | 1,277 |  | 15,964 |  | 17,241 |  |

| Eliminated on disposal | - |  | (3,704 | ) | (3,704 | ) |

| At 31 December 2025 | 3,218 |  | 62,610 |  | 65,828 |  |

| NET BOOK VALUE

| At 31 December 2025 | 3,169 |  | 4,886 |  | 8,055 |  |

| At 31 December 2024 | 4,446 |  | 19,461 |  | 23,907 |  |

6. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 100 |  |

| NET BOOK VALUE

| At 31 December 2025 | 100 |  |

| At 31 December 2024 | 100 |  |

7. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 377,307 |  | 431,190 |  |

| Other debtors | 35,552 |  | 35,569 |  |

| Prepayments and accrued income | 571,617 |  | 512,767 |  |

984,476 |  | 979,526 |  |

| Amounts falling due after more than one year:

| Amounts owed by group undertakings | 2,914 |  | - |  |

| Aggregate amounts | 987,390 |  | 979,526 |  |

| Code First Girls Limited (Registered number: 13792640) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

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

2025 | 2024 |

£ | £ |

| Trade creditors | 7,779 |  | 46,698 |  |

| Amounts owed to group undertakings | 7,343 |  | 100 |  |

| Social security and other taxes | 66,127 |  | 78,200 |  |

| VAT | 175,696 |  | 127,875 |  |

| Other creditors | 21,173 |  | 20,169 |  |

| Accruals and deferred income | 745,519 |  | 712,820 |  |

1,023,637 |  | 985,862 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 972,108 | Ordinary shares | £0.00001 | 10 |  | 10 |  |

| 240,000 | Ordinary A shares | £0.00001 | 2 |  | 2 |  |

12 |  | 12 |  |

| 2,108 Ordinary shares of £0.00001 was allotted as fully paid during the year following share option exercises.

10. | RESERVES

| Share |

| Retained |  | Share |  | Option |

| earnings |  | premium |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 January 2025 | (2,662,815 | ) | 6,274,191 |  | 27,152 |  | 3,638,528 |  |

| Deficit for the year | (714,381 | ) | (714,381 | ) |

| Share Options vested | - |  | - |  | 18,688 |  | 18,688 |  |

| Share options exercised | - |  | 2,972 |  | (2,972 | ) | - |  |

| At 31 December 2025 | (3,377,196 | ) | 6,277,163 |  | 42,868 |  | 2,942,835 |  |

11. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is A Brailsford.

12. | SHARE-BASED PAYMENT TRANSACTIONS

| The company has an equity settled option scheme.

| The company had 35,632 (2024: nil) options outstanding at the beginning of the period.

| During the period 35,360 (2024: 35,632) options were granted to employees.

| During the period 2,380 (2024: nil) options lapsed.

| During the period 2,108 (2024: nil) options were exercised.

| During the period nil (2024: nil) options expired.

| The company had 66,504 (2024: nil) options outstanding at the end of the period.

| The company has 30,403 (2024: 19,257) exercisable options at the end of the period.

| The fair value of the share options has been valued at £1.41 based upon the unrestricted market value.

| During the period the value of share options which vested was £18,688, and this was charged to the profit and loss account. The total carrying amount at the period end is £42,868 (2024: £27,152)