Immersive Finance Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Immersive Finance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11505251 . The registered office is 128 City Road, London, EC1V 2NX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain items at fair value, and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements and believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible Fixed Assets are stated at cost (or deemed cost) or valuation less accumulated amortisation and accumulated impairment losses. Amortisation is provided on all Intangible fixed assets, at rates calculated to write off the cost or valuation less estimated residual value, of each asset over its expected useful life, as follows:

Other intangibles – Revalued Annually from an Independent Source

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% Straight Line
Computer Equipment	25% Straight Line

Page 3

Page 4

Immersive Finance Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Financial Instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instruments.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The Company operates a defined contributions scheme for its employees and directors. The assets of the scheme are held separately from those of the Company in an independently administered fund. The contributions are recognised as an expense in the Profit & Loss account.

2.9. Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.10. Debtors & Creditors

Debtors

Trade and other debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Trade and other creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11. Interest Income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding 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.

Page 4

Page 5

Immersive Finance Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

3. Average Number of Employees

Average number of employees, including directors, during the period was as follows: 6 (2024: 3)

4. Intangible Assets

	Other
	£
Cost or Valuation
As at 1 January 2025	-
Additions	372,626

As at 31 December 2025	372,626

Amortisation
As at 1 January 2025	-
Impairment losses	151,815

As at 31 December 2025	151,815

Net Book Value
As at 31 December 2025	220,811

As at 1 January 2025	-

The £151,815 revaluation loss has been recorded directly to the Profit & Loss account.

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2025	1,006	7,386	8,392
Additions	1,554	873	2,427

As at 31 December 2025	2,560	8,259	10,819

Depreciation
As at 1 January 2025	448	2,290	2,738
Provided during the period	461	1,995	2,456

As at 31 December 2025	909	4,285	5,194

Net Book Value
As at 31 December 2025	1,651	3,974	5,625

As at 1 January 2025	558	5,096	5,654

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	22,369	-
Other debtors	34,752	42,777

	57,121	42,777

Page 5

Page 6

Immersive Finance Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	510	1
Bank loans and overdrafts	2	-
Other creditors	98,913	31,163
Taxation and social security	10,110	124

	109,535	31,288

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other creditors	800,255	201,665

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,244	1,000

10. Pension Commitments

The Company pays contributions into a defined contributions scheme for its employees and directors. The pension cost charge represents contributions payable by the Company into these schemes and amounted to £2,936 (2024: £0). Contributions of £0 (2024: £0) were payable at the reporting date.

11. Directors Advances, Credits and Guarantees

Included within Creditors falling due after more than 1 year are the following loans from directors:

	As at 1 January 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Dr Katia Babbar	(185,589 )	(1,452,134 )	878,641	-	(759,082 )
Dr William McGhee	(16,076 )	(25,297 )	200	-	(41,173 )

The above loans are unsecured, interest free and repayable on demand, but not expected to be repaid within the following year.

Page 6

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		220,811		-
Tangible Assets	5		5,625		5,654

			226,436		5,654
CURRENT ASSETS
Debtors	6	57,121		42,777
Cash at bank and in hand		12,288		15,245

		69,409		58,022
Creditors: Amounts Falling Due Within One Year	7	(109,535 )		(31,288 )

NET CURRENT ASSETS (LIABILITIES)			(40,126 )		26,734

TOTAL ASSETS LESS CURRENT LIABILITIES			186,310		32,388

Creditors: Amounts Falling Due After More Than One Year	8		(800,255 )		(201,665 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,406 )		-

NET LIABILITIES			(615,351 )		(169,277 )

CAPITAL AND RESERVES
Called up share capital	9		1,244		1,000
Share premium account			74,985		-
Profit and Loss Account			(691,580 )		(170,277 )

SHAREHOLDERS' FUNDS			(615,351)		(169,277)

Dr Katia Babbar Director	Dr William McGhee Director	Mr Stephen Taylor Director
05/05/2026