Registration number: 07459549

Fatigue Risk Management Science Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Financial Position	3 to 4
Notes to the Unaudited Financial Statements	5 to 10

Fatigue Risk Management Science Limited

Company Information

Directors

V Kothari L A Skoczkowski R Rahim B C McGrady P Dhrona

Registered office

163 Herne Hill London SE24 9LR

Accountants

Innovi Advisors Ltd Chartered Certified Accountants163 Herne Hill London SE24 9LR

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Fatigue Risk Management Science Limited
for the Year Ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fatigue Risk Management Science Limited for the year ended 31 December 2025 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Fatigue Risk Management Science Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fatigue Risk Management Science Limited and state those matters that we have agreed to state to the Board of Directors of Fatigue Risk Management Science Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fatigue Risk Management Science Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fatigue Risk Management Science Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Fatigue Risk Management Science Limited. You consider that Fatigue Risk Management Science Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Fatigue Risk Management Science Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Innovi Advisors Ltd
Chartered Certified Accountants
163 Herne Hill
London
SE24 9LR

11 May 2026

Fatigue Risk Management Science Limited

(Registration number: 07459549)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	583,288	-
Tangible assets	5	2,543	7,737
		585,831	7,737
Current assets
Debtors	6	437,405	232,082
Cash at bank and in hand		867,289	1,293,675
		1,304,694	1,525,757
Creditors: Amounts falling due within one year	7	(1,990,444)	(875,306)
Net current (liabilities)/assets		(685,750)	650,451
Total assets less current liabilities		(99,919)	658,188
Provisions for liabilities		(636)	(1,934)
Net (liabilities)/assets		(100,555)	656,254
Capital and reserves
Called up share capital		600	605
Capital redemption reserve		5	-
Retained earnings		(101,160)	655,649
Shareholders' (deficit)/funds		(100,555)	656,254

Fatigue Risk Management Science Limited

(Registration number: 07459549)
Statement of Financial Position as at 31 December 2025 (continued)

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 Income Statement.

Approved and authorised by the Board on 11 May 2026 and signed on its behalf by:
 

V Kothari Director

Fatigue Risk Management Science Limited

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:
163 Herne Hill
London
SE24 9LR

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.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

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.

Government grants

Government and other grants are recognised as income when there is reasonable assurance that the grants or contributions will be received and the conditions attaching to the grants or contribution have been met. Monies advanced as grants and contributions for which conditions have not been satisfied are carried in the Balance Sheet as creditors. When conditions are satisfied, the grant or contribution is credited to income.

Fatigue Risk Management Science Limited

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

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Equipment	Straight line at 25%

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
SAFE perpetual license	Over 5 years

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.

Fatigue Risk Management Science Limited

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

2	Accounting policies (continued)

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Fatigue Risk Management Science Limited

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 7).

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
Additions acquired separately	700,000	700,000
At 31 December 2025	700,000	700,000
Amortisation
Amortisation charge	116,712	116,712
At 31 December 2025	116,712	116,712
Carrying amount
At 31 December 2025	583,288	583,288

Fatigue Risk Management Science Limited

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

5	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 January 2025	32,328	32,328
Additions	872	872
Disposals	(12,143)	(12,143)
At 31 December 2025	21,057	21,057
Depreciation
At 1 January 2025	24,591	24,591
Charge for the year	2,921	2,921
Eliminated on disposal	(8,998)	(8,998)
At 31 December 2025	18,514	18,514
Carrying amount
At 31 December 2025	2,543	2,543
At 31 December 2024	7,737	7,737

6

Debtors

Current	2025 £	2024 £
Trade debtors	409,267	193,759
Prepayments	1,692	7,515
Other debtors	26,446	30,808
	437,405	232,082

Fatigue Risk Management Science Limited

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

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	584,113	1,614
Taxation and social security	26,911	117,041
Accruals and deferred income	126,869	54,928
Other creditors	1,252,551	701,723
	1,990,444	875,306

8	Related party transactions

Red Lane commissions are comprised of two components.

Sales commissions are calculated at 9% of revenue and paid monthly to Red Lane Technologies Inc. These amounted to a total of £45,301.29.

Service fees comprised administrative, integration, development, marketing, and other support services required during the post acquisition integration period following the acquisition of FRMSc. These services were provided by Red Lane Technologies Inc. to FRMSc and amounted to a total of £578,422.55.

As at 31 December 2025, £554,486.43 was outstanding. Subsequent to the year end, all amounts due to Red Lane Technologies Inc. were settled.

9	Parent and ultimate parent undertaking

The directors regard Red Lane Technologies Inc., a company incorporated in Canada with registry ID 2647171, as the company's ultimate parent undertaking. The parent undertaking registered office address is Mississauga, Ontario.

 The company's immediate parent is Red Lane Technologies Inc., incorporated in Canada.