OneID Limited

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

1. General Information

OneID Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11800511 . The registered office is Work.Life, CORE, Brown Street, Manchester, M2 1DH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention 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

Since the Company's incorporation it has been financed by equity fundraises which the directors anticipate will continue to be the principal source of finance for the foreseeable future. The directors have prepared cashflow forecasts for the period ending 31 December 2026 which indicate that further fundraising will be required during this period. The amount of funding will depend on the speed taken to negotiate revenue generating contracts as the Company takes its OneID product to market. There are inherent material uncertainties on timing and amount and therefore this directly impacts on the amount of additional equity fundraising that will be required in the next twelve months.

Customer and prospect opportunities and other discussions give the directors strong grounds for believing that there is a profitable market for the product which supports the directors' use of the going concern basis of preparation for the financial statements. Furthermore, the directors recognise that additional equity fundraising depends on the ongoing support of current and new shareholders which cannot be guaranteed. The directors therefore recognise that this represents a further material uncertainty. Whilst the directors are confident that sufficient financial support will be available for the Company to operate as a going concern for the period of at least 12 months from the date of approval of these financial statements, they recognise that the events above represent material uncertainties regarding the going concern status of the Company. The financial statements do not include any adjustments that may arise from any significant changes in the assumptions used in preparing forecasts.

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 rendering of services. Turnover is reduced for estimated customer rebates and other similar allowances.

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. 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:

Computer Equipment

33% straight line

2.5. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

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OneID Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Financial Instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and

other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial

recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the

case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred

beyond normal business terms, then it is measured at the present value of future payments discounted at a market

rate of interest for a similar debt instrument.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within

profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between

the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective

interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the

asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to

be sold at the balance sheet date.

2.7. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

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

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.

Current tax for the year is recognised in profit or loss.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.10. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

2.11. Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.

The research and development costs involved in developing products for future sale are expensed.

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OneID Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.12. Preparation of consolidated accounts exemption

The company is exempt under Section 399 of the Companies Act from the requirement to prepare consolidated financial statements by virtue of the fact it is subject to the small companies regime. These financial statements contain information the company as an individual undertaking and not about this group.

2.13. Share based payments

The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking in to account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do not meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 29 (2024: 31)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2025	61,767
Disposals	(378 )

As at 31 December 2025	61,389

Depreciation
As at 1 January 2025	56,474
Provided during the period	5,180
Disposals	(291 )

As at 31 December 2025	61,363

Net Book Value
As at 31 December 2025	26

As at 1 January 2025	5,293

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	74,841	4,362
Other debtors	559,452	253,319

	634,293	257,681

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OneID Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	270,831	69,019
Other loans	284,778	179,625
Other creditors	165,546	103,620
Taxation and social security	202,806	70,959

	923,961	423,223

Other creditors includes an amount of £6,307 (2024: £7,038) in respect of pension contributions not yet paid.

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

	2025	2024
	£	£
Other loans	711,945	778,375
Other creditors	-	17,121

	711,945	795,496

A loan of £996,723 (2024: £958,0000) is secured by a fixed and floating charge over the assets of the company.

The loan comprises an amount of £284,778 (2024: £179,625) falling due within one year and £711,945 (2024: £778,375) falling due after more than one year.

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	47,530	45,171

9. Share based payments

The company operates two equity based share option schemes (approved EMI and an unapproved scheme) to certain consultants and employees which provides additional remuneration for those personnel who are key to the company. The options expire ten years after the date of the grant. Option-holders are not entitled to dividends until the shares are exercised. All options granted have performance conditions relating to the relevant consultant or employee remaining in the employment of the company at exercise.

A reconciliation of share option movements during the year ended 31 December 2025 is shown below:

Number of options - weighted average exercise price

Outstanding as at 1 January 2025: 228,771 - £0.26

Granted during the year: 52,818 - £1.00

Forfeited during the year: 12,768 - £0.09

Exercised during the year: 860 - £0.48

Outstanding as at 31 December 2025: 267,961 - £0.42

The company is unable to directly measure the fair value of the share options. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value share option schemes similar to that of the company.

Equity settled schemes - charges arising: £81,964 (2024: £402,975 )

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		26		5,293

			26		5,293
CURRENT ASSETS
Debtors	5	634,293		257,681
Cash at bank and in hand		1,633,006		1,005,884

		2,267,299		1,263,565
Creditors: Amounts Falling Due Within One Year	6	(923,961 )		(423,223 )

NET CURRENT ASSETS (LIABILITIES)			1,343,338		840,342

TOTAL ASSETS LESS CURRENT LIABILITIES			1,343,364		845,635

Creditors: Amounts Falling Due After More Than One Year	7		(711,945 )		(795,496 )

NET ASSETS			631,419		50,139

CAPITAL AND RESERVES
Called up share capital	8		47,530		45,171
Share premium account			17,482,771		16,079,900
Share Based Payment Reserve			512,366		429,822
Advance Share Subscriptions			1,695,999		-
Profit and Loss Account			(19,107,247 )		(16,504,754 )

SHAREHOLDERS' FUNDS			631,419		50,139