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REGISTERED NUMBER: 11241778 (England and Wales)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 JUNE 2025 |

| FOR |

| REX LABS LTD |

REX LABS LTD (REGISTERED NUMBER: 11241778)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

REX LABS LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 30 JUNE 2025

| DIRECTORS: | J Kavanagh

| D Miller

| SECRETARY: | J Kavanagh

| REGISTERED OFFICE: | 10 John Street

| London

| WC1N 2EB

| REGISTERED NUMBER: | 11241778 (England and Wales)

| AUDITORS: | Oury Clark Chartered Accountants

| Statutory Auditors

| Herschel House

| 58 Herschel Street

| Slough

| Berkshire

| SL1 1PG

REX LABS LTD (REGISTERED NUMBER: 11241778)

BALANCE SHEET

30 JUNE 2025

| 30.6.25 | 30.6.24 |

| (Unaudited) |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 10,700 |  | - |  |

Tangible assets | 5 | 3,967 |  | 6,186 |  |

14,667 |  | 6,186 |  |

CURRENT ASSETS

Debtors | 6 | 105,801 |  | 148,621 |  |

Cash at bank | 218,424 |  | 145,069 |  |

324,225 |  | 293,690 |  |

CREDITORS

Amounts falling due within one year | 7 | 1,932,399 |  | 1,254,967 |  |

NET CURRENT LIABILITIES | (1,608,174 | ) | (961,277 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (1,593,507 | ) | (955,091 | ) |

CAPITAL AND RESERVES

Called up share capital | 9 | 1,014,207 |  | 1,014,207 |  |

Retained earnings | (2,607,714 | ) | (1,969,298 | ) |

SHAREHOLDERS' FUNDS | (1,593,507 | ) | (955,091 | ) |

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 1 July 2026 and were signed on its behalf by:

J Kavanagh - Director

REX LABS LTD (REGISTERED NUMBER: 11241778)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1. | STATUTORY INFORMATION

| Rex Labs Ltd 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.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| An intermediate parent company, RXL HoldCo Pty Limited, have provided a commitment to provide any financial support which may be necessary in order that the company can meet its liabilities, as they fall due, for at least twelve months and one day following the signing of the audit report attached to these accounts. As a result of this commitment the directors have continued to adopt the going concern basis in preparing these financial statements.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover consists of software as a service and is invoiced in advance. Turnover is recognised as the service is provided to customers.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Development costs are being amortised evenly over their estimated useful life of three years.

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and accumulated impairment losses.

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

| Land and buildings - 33% on cost

| Plant and machinery etc - 33% on cost

| Financial instruments

| Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102.

| 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.

REX LABS LTD (REGISTERED NUMBER: 11241778)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 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.

| Research and development

| Expenditure on research is written off in the year in which it is incurred.

| Research and development tax credits are recognised on receipt of funds.

| Foreign currencies

| 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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 10 (2024 - 10 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| Additions | 11,921 |  |

| At 30 June 2025 | 11,921 |  |

| AMORTISATION

| Charge for year | 1,221 |  |

| At 30 June 2025 | 1,221 |  |

| NET BOOK VALUE

| At 30 June 2025 | 10,700 |  |

REX LABS LTD (REGISTERED NUMBER: 11241778)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

5. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 July 2024 | 3,305 |  | 9,796 |  | 13,101 |  |

| Additions | 1,693 |  | 618 |  | 2,311 |  |

| At 30 June 2025 | 4,998 |  | 10,414 |  | 15,412 |  |

| DEPRECIATION

| At 1 July 2024 | - |  | 6,915 |  | 6,915 |  |

| Charge for year | 1,649 |  | 2,881 |  | 4,530 |  |

| At 30 June 2025 | 1,649 |  | 9,796 |  | 11,445 |  |

| NET BOOK VALUE

| At 30 June 2025 | 3,349 |  | 618 |  | 3,967 |  |

| At 30 June 2024 | 3,305 |  | 2,881 |  | 6,186 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.6.25 |  | 30.6.24

| (Unaudited)

£ | £ |

| Trade debtors | 70,625 |  | 118,136 |  |

| Amounts owed by group undertakings | 5,236 |  | - |  |

| Other debtors | 29,940 |  | 30,485 |  |

105,801 |  | 148,621 |  |

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

| 30.6.25 |  | 30.6.24

| (Unaudited)

£ | £ |

| Trade creditors | 13,440 |  | 3,798 |  |

| Amounts owed to group undertakings | 1,573,930 |  | 1,038,499 |  |

| Taxation and social security | 81,602 |  | 68,591 |  |

| Other creditors & accruals | 263,427 |  | 144,079 |  |

1,932,399 |  | 1,254,967 |  |

| During the preparation of the financial statements it was noted that some amounts included in trade creditors at 30 June 2024 should have been included in other creditors and accruals. £22,301 was reanalysed from trade creditors to other creditors and accruals in the prior year as this was determined to be a more appropriate classification. This had no impact on the profit and loss.

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 30.6.25 |  | 30.6.24

| (Unaudited)

£ | £ |

| Within one year | - |  | 92,199 |  |

REX LABS LTD (REGISTERED NUMBER: 11241778)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.6.25 |  | 30.6.24

| value: | £ | £ |

| 1,014,207 | Ordinary | £1 | 1,014,207 |  | 1,014,207 |  |

10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| William Humphreys (Senior Statutory Auditor)

| for and on behalf of Oury Clark Chartered Accountants

| We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

| "Use of our report

| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

| Other matters

| The financial statements for the year ended 30 June 2024 were not audited."

11. | SECURED DEBTS

| On 19 February 2025 a fixed and floating charge over all assets of the Company was registered by Global Loan Agency Services Australia Nominees Pty Limited.

12. | PARENT COMPANY

| The immediate parent company is Rex Software Pty Ltd which is incorporated in Australia. Rex Software Pty Ltd is the parent undertaking of the smallest group preparing consolidated financial statements which includes the results of the company, but are not publicly available. Their registered office address is Lake Business Services Unit 140, 117 Old Pittwater Road, Brookvale, NSW 210, Australia.

| There is no ultimate controlling party.