Secondperspective Ltd.

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC575638

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		32,278		18,024
Tangible Assets	5		27,600		39,522

			59,878		57,546
CURRENT ASSETS
Stocks	6	146,971		156,129
Debtors	7	1,004,858		159,306
Cash at bank and in hand		13,500		65,163

		1,165,329		380,598
Creditors: Amounts Falling Due Within One Year	8	(171,900 )		(76,885 )

NET CURRENT ASSETS (LIABILITIES)			993,429		303,713

TOTAL ASSETS LESS CURRENT LIABILITIES			1,053,307		361,259

Creditors: Amounts Falling Due After More Than One Year	9		(2,808,479 )		(1,271,846 )

NET LIABILITIES			(1,755,172 )		(910,587 )

CAPITAL AND RESERVES
Called up share capital	10		326		326
Share premium account			2,761,089		2,761,089
Profit and Loss Account			(4,516,587 )		(3,672,002 )

SHAREHOLDERS' FUNDS			(1,755,172)		(910,587)

Page 1

Page 2

Secondperspective Ltd.

Balance Sheet (continued)

As At 30 September 2025

For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Alexander Birks

Director

15/06/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Secondperspective Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC575638 . The registered office is Wework, 80 George Street, Edinburgh, EH2 3BU.

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

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Significant judgements and estimations

The preparation of financial statements in compliance with FRS 102 requires management to exercise judgement in applying the company's accounting policies.

The following management judgements have had the most significant effect on the amounts recognised in these financial statements:

Share options charges

In accordance with Section 26 of FRS 102, the company accounts for equity-settled share-based payment arrangements with employees based on the fair value of the awards at the grant date. That fair value is recognised as a company expense, with a corresponding increase in equity, over the period during which the employees become unconditionally entitled to the awards.

As at the balance sheet date, the company was in a position of significant negative equity available for distribution, and no reasonable expectation of an exit event in the near term exists. As a result, no share-based payment expense has been recognised in these financial statements.

2.4. 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 returns, 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.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are Trademarks and Website. It is amortised to the profit and loss account over its estimated economic life of Trademarks is 10 years (10% Straight Line) and Website 4 years (25% Straight Line).

2.6. 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:

Plant & Machinery	20% Straight Line
Fixtures & Fittings	20% Straight Line
Computer Equipment	33% Straight Line

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Page 3

Page 4

Secondperspective Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.8. 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.

2.9. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2024: 10)

4. Intangible Assets

	Other
	£
Cost
As at 1 October 2024	28,295
Additions	17,702

As at 30 September 2025	45,997

Amortisation
As at 1 October 2024	10,271
Provided during the period	3,448

As at 30 September 2025	13,719

Net Book Value
As at 30 September 2025	32,278

As at 1 October 2024	18,024

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 October 2024	56,881	2,096	13,351	72,328
Additions	2,163	-	-	2,163

As at 30 September 2025	59,044	2,096	13,351	74,491

Depreciation
As at 1 October 2024	21,756	975	10,075	32,806
Provided during the period	11,458	396	2,231	14,085

As at 30 September 2025	33,214	1,371	12,306	46,891

Net Book Value
As at 30 September 2025	25,830	725	1,045	27,600

As at 1 October 2024	35,125	1,121	3,276	39,522

Page 4

Page 5

Secondperspective Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

6. Stocks

	2025	2024
	£	£
Stock	146,971	156,129

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	68,283	35,109
Amounts owed by group undertakings	803,922	-
Other debtors	8,456	-

	880,661	35,109
Due after more than one year
Amounts owed by participating interests	124,197	124,197

	1,004,858	159,306

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	118,725	32,919
Other creditors	37,152	21,476
Taxation and social security	16,023	22,490

	171,900	76,885

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

	2025	2024
	£	£
Other loans	2,808,479	1,271,846

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	326	326

11. Share based payments

The comapny operates a share option plan for employees and advisors.

Options vest over a 4 year period with a 1 year cliff settlied via equity

outstanding at the beginning of the period: 52,451
granted during the period: Nil
forfeited during the period: Nil
exercised during the period: Nil
expired during the period: Nil
outstanding at the end of the period: 52,451
exercisable at the end of the period: 19,271

Page 5